BY SEUN TIMI-KOLEOLU & ENIOLA SOGBESAN Introduction Nigeria’s maritime sector is poised for a significant regulatory transformation following the enactment of the Nigerian Ports Economic Regulatory Agency Act, 2026 (the “NPERA Act” or the “Act”) by President Bola Ahmed Tinubu on June 19, 2026, and the repeal of the Nigerian Shippers’ Council Act (the “Nigerian […]
BY ADERONKE ALEX-ADEDIPE & OLUWAYEMI IBIRINDE Introduction On 6th August 2026, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (“NMDPRA”) launched a stakeholder consultation in relation to the proposed Midstream and Downstream Petroleum Prevention of Anti-Competitive Practices and Behavior Regulations, 2026 (the “Regulations”). Comprising 138 provisions across 23 parts, the Regulations seek to introduce the first […]
BY SEUN TIMI-KOLEOLU & PROMISE ITAH Introduction The Securities and Exchange Commission (“SEC”) has proposed rules on Online Forex Trading and Contracts for Difference (“CFDs”) (the “Proposed Rules”), introducing a regulatory framework for businesses involved in the provision of online Forex and CFD trading services in Nigeria. The Proposed Rules will affect not only Forex […]
BY ADERONKE ALEX-ADEDIPE & EFE OKPARAVERO Introduction On 18 August 2026, the Nigerian Electricity Regulatory Commission (“NERC”) issued Order No. NERC/2026/087, transferring regulatory oversight of Akwa Ibom State’s (“the State”) intrastate electricity market to the Akwa Ibom State Electricity Regulatory Commission (“AKSERC”). The Order was issued pursuant to Section 230(2) of the Electricity Act […]
BY SEUN TIMI-KOLEOLU & HILLARY OKOROTIE Introduction On August 20, 2026, the Securities and Exchange Commission (“SEC”) published the Proposed Rules on Digital and Virtual Assets Operations, Custody and Markets (the “Proposed Rules”). The Proposed Rules seek to establish a comprehensive regulatory framework for digital and virtual asset activities in Nigeria, including the issuance, offering, trading, custody, […]
BY ADERONKE ALEX-ADEDIPE & ENIOLA SOGBESAN Introduction On 17 August 2026, the Federal Government of Nigeria introduced the National Digital Cloud Policy (the “Policy”), replacing the Nigeria Cloud Computing Policy 2019. The Policy is effective immediately, save for the sovereignty provisions contained in Part III, which remain subject to Presidential approval. The Policy represents a […]
BY SEUN TIMI-KOLEOLU & OLUWAYEMI IBIRINDE INTRODUCTION On 2 August 2026, the transparency obligations under the European Union Artificial Intelligence Act (the “EU AI Act”) became applicable. These include requirements under Article 50 for certain AI-generated or manipulated content to be identifiable through machine-readable markings and, in specified circumstances, disclosed to users. The effect of these […]
BY ADERONKE ALEX-ADEDIPE & EFE OKPARAVERO Introduction On 10 August 2026, the Nigerian Electricity Regulatory Commission (“NERC”) issued Order No. NERC/2026/086 in respect of Kaduna Electricity Distribution Plc (“KAEDC”), dissolving its existing board and appointing an interim board of “Special Directors” to oversee the company. NERC has also appointed an Administrator and commenced a 12-month […]
SEUN TIMI-KOLEOLU & PROMISE ITAH Introduction On July 31, 2026, the Nigeria Revenue Service (NRS) issued the Guidelines on the Taxation of Virtual Assets (the “Guidelines”), providing the first comprehensive administrative framework for the taxation of virtual asset transactions in Nigeria. While the Guidelines do not introduce new taxes, they clarify how existing tax laws […]
BY ADERONKE ALEX-ADEDIPE & HILLARY OKOROTIE Introduction On February 10, 2026, the Central Bank of Nigeria (CBN) issued a circular on the Participation of Licensed Bureau De Change Operators in the Nigerian Foreign Exchange Market, permitting licensed Bureau De Change (BDC) operators to participate in the Nigerian Foreign Exchange Market (NFEM). Following the commencement of […]