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Nigeria's upstream regulator has issued a critical enforcement circular targeting holders of Petroleum Prospecting Licences awarded in three recent licensing rounds. The circular activates drill-or-drop provisions under the Petroleum Industry Act 2021, creating immediate compliance obligations and potential forfeiture consequences for licensees who have not met their minimum work programme commitments.

On 25th March, 2026, the Central Bank of Nigeria ("CBN") issued a circular titled "Removal of Cash Pooling Requirement for International Oil Companies (IOCs)" (the "2026 Circular")...

The Federal Government of Nigeria ("FGN"), through its upstream oil and gas industry regulator, the Nigerian Upstream Petroleum Regulatory Commission ("NUPRC"), has announced the commencement of the mini bid round 2022 ("MBR").

The Petroleum Industry Act, 2021 (PIA or "the Act") waded through many turbulent waters of rejections and approvals to finally emerge on 16 August 2021.

The Petroleum Industry Act, 2021 was signed into law in August 2021. The PIA introduces significant changes to the legal and governance framework, administrative processes, regulatory and fiscal terms, and host community engagements ...

On November 8, 2022, the new Africa Carbon Markets Initiative (ACMI) was inaugurated at the United Nations Climate Change global conference held in Sharm, Egypt, with an objective to scale...

The Central Bank of Nigeria has issued draft guidelines requiring financial institutions with closely linked entities to maintain operational independence through ring-fencing measures. These proposed regulations introduce comprehensive governance requirements, customer fund protections, and mandate the formation of non-operating holding companies to prevent financial contagion across related entities.

The Central Bank of Nigeria has released draft guidelines establishing ring-fencing requirements for closely linked entities operating within the Nigerian financial system. These proposed regulations aim to create clear legal, operational, and financial boundaries between affiliated entities to prevent contagion risks and regulatory arbitrage.

The Nigerian banking sector is no stranger to mergers and acquisitions.

The Nigerian banking sector is no stranger to mergers and acquisitions. It has probably seen the highest number of consolidation activity within the financial services sector in West Africa.

This month, the Central Bank of Nigeria (the "CBN") and the Securities and Exchange Commission (the "SEC") issued relevant guidelines and market updates.

The Nigeria Police Trust Fund (Establishment) Act 2018 (as amended) (the "Act") was signed into law by the President of the Federal Republic of Nigeria on June 24, 2019.

There is a new opportunity for investment in Nigeria's power sector.

Commercial agreements often contain broadly drafted intellectual property clauses that can inadvertently transfer ownership of proprietary tools, systems...

The hotel business in Nigeria is very profitable. However, to provide these services, these potential investors have to comply with the laws and regulations applicable in the sector.

The Nigerian Communications Commission and Corporate Affairs Commission have jointly established a mandatory prior approval framework for telecom share transfers.

It has been three years since the Petroleum Industry Act ("PIA" or the "Act") was signed into law, and the implementation of the Act has come into full swing.

Employees share based compensation (ESBC) has been described as one of the most novel innovations in the corporate business world and finance.