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The Lagos State Internal Revenue Service (LIRS) recently issued a Notice (the "Notice") to employers in the State to file their annual tax returns for the 2024 financial year on or before 31st January 2025.

On 24 September 2019, the Tax Appeal Tribunal ("TAT" or "the Tribunal"), sitting in Lagos, upheld the imposition of excess dividend tax under Section 19 of the Companies Income Tax (CIT)...

The Nigerian Startup Act 2022 (NSA) is a significant piece of legislation, designed to foster innovation, attract investment, and create a favourable business climate for tech-enabled startups in Nigeria. It aims to position Nigeria as a leading hub for digital entrepreneurship in Africa by removing regulatory barriers and offering targeted incentives.

Financial technology often referred to as "fintech" has been a thriving aspect of technology for the past few years. It is a term used to describe the deployment of new...

In April 2021, the Nigerian Securities and Exchange Commission ("SEC") issued a directive prohibiting unregistered Financial Technology ("Fintech") companies from offering, selling or dealing...

A shipping company engages in cargo transport, ship ownership, and operations.

The recent public warning issued by the Federal Competition and Consumer Protection Commission (FCCPC) is a reminder that merger notification in Nigeria is not a mere procedural formality, but a substantive legal...

After years of anticipating a review of the primary law on companies in Nigeria, the President, Muhammadu Buhari on the 7th day of August, 2020...

Effective October 2024 the Economic Community of West African States (ECOWAS) introduced a merger control regime as part of their continued affords of building a common market.

Imagine two powerhouse companies joining forces to dominate the market, streamline operations, and catapult their revenues to new heights. That's one of the benefits of mergers and acquisitions (M&A)...

The concept of a "nominee director" is not strange to Nigeria but it is also not expressly provided in the principal legislation regulating the affairs of a company in Nigeria i.e. the Companies and Allied Matters Act 2020 "CAMA".

The Companies and Allied Matters Act, 2020, came into force in August 2020, repealing the Companies and Allied Matters Act, Cap. C20, Laws of the Federation of Nigeria, 2004 (CAMA 2020).

The Corporate Affairs Commission (the "CAC") has issued a new schedule of fees (the "Revised Schedule"), superseding the previous regime that governed the cost of incorporation...

The Companies and Allied Matters Act, 2019 ("the new CAMA") recently signed into law by the President of the Federal Republic of Nigeria

Nigeria's Revenue Service has issued comprehensive guidelines establishing a uniform framework for taxing virtual assets and cryptocurrency transactions. The new rules adopt a substance-over-form approach, focusing on the economic nature of digital asset transactions rather than their technical labels. These guidelines clarify tax treatment, compliance obligations, and administrative procedures for all persons engaged in virtual asset activities under Nigerian law.