By Seun Timi-Koleolu and Ebikeniye Best DOWNLOAD PUBLICATION Introduction In a bid to further tighten the nuts and bolts of data protection in Nigeria, the Nigeria Data Protection Commission (the “Commission”) published on May 31, 2024, a draft General Application and Implementation Directive (the “Directive”) which is to guide the interpretation and implementation of the […]
BY ADERONKE ALEX-ADEDIPE AND KOFOWOROLA AYOOLA DOWNLOAD PUBLICATION Introduction The Nigerian e-commerce sector continues to evolve and experience rapid growth and changes. Businesses operating in this sector, however, experience a number of challenges, one of which includes the downside of the Cash-on-Delivery (COD) payment option. As a result, several e-commerce giants in Nigeria have suspended […]
BY SEUN TIMI-KOLEOLU AND QASIM OGUNJIMI DOWNLOAD PUBLICATION Introduction ESG (Environmental, Social, and Governance) investing is gaining traction globally, and Nigeria is no exception. It involves assessing companies for potential investment based on their environmental practices/ impact, social responsibilities, and governance frameworks. With the increasing emphasis on sustainable and ethical business conduct, Nigerian companies have […]
BY ADERONKE ALEX-ADEDIPE AND EBIKENIYE BEST DOWNLOAD PUBLICATION Introduction On May 7, 2024, the Securities and Exchange and Commission (“SEC”) issued the “Exposure of Proposed New Rules for the Issuance and Allotment of Securities by Private Companies” (“Rules”). The Rules are made pursuant to Section 43(1) (b) of the Business Facilitation (Miscellaneous Provisions) Act, 2022 […]
BY SEUN TIMI-KOLEOLU AND HILLARY OKOROTIE DOWNLOAD PUBLICATION INTRODUCTION On May 6, 2024, the Central Bank of Nigeria (“CBN”) published a circular providing “Implementation Guidance on the Collection and Remittance of theNational Cybersecurity Levy” (the “CBN Circular”) introduced by the Cybercrime (Prohibition, Prevention, etc.) Act of 2015 and amended by the Cybercrime (Prohibition, Prevention, etc.) […]
BY ADERONKE ALEX-ADEDIPE AND OMOWUMI OLONADE DOWNLOAD PUBLICATION INTRODUCTION In the dynamic Startup scene in Nigeria, attaining success depends not only on innovation and market traction but also on effectively navigating the intricate realm of legal requirements. Therefore, this newsletter provides some guidance essential for ensuring the prosperity and sustainability of tech startups in Nigeria. […]
BY ADERONKE ALEX-ADEDIPE AND OLAWALE ATANDA DOWNLOAD PUBLICATION Introduction Employee benefits such as health insurance, pensions, annual leave, and work-life balance initiatives can greatly improve an employee’s overall job satisfaction and ultimately lead to increased productivity and loyalty. In Nigeria, there are laws addressing benefits for employees such as the Pension Reform Act for pensions […]
BY SEUN TIMI-KOLEOLU AND KOFOWOROLA AYOOLA DOWNLOAD PUBLICATION Introduction Previously, navigating the Nigerian Foreign Exchange market could be a challenge for foreign businesses and investors. Fluctuations in the Naira exchange rate meant investors received less when converting profits back to their home currency. Repatriating funds could be hindered by a shortage of foreign currency, rendering […]
BY ADERONKE ALEX-ADEDIPE AND HILLARY OKOROTIE DOWNLOAD PUBLICATION Introduction The Central Bank of Nigeria (“CBN”) on March 28, 2024, published a circular reviewing the minimum capital requirements for Commercial, Merchant, and Non-interest Banks in Nigeria. This upward review according to the CBN, aims to ensure that financial institutions maintain the capacity to support the growth […]
BY SEUN TIMI-KOLEOLU AND OMOWUMI OLONADE DOWNLOAD PUBLICATION Introduction As we grow our assets and wealth either as entrepreneurs, employees or investors, in the tech, banking, manufacturing, energy, agricultural, and all other sectors, it is important that we are intentional about putting structures in place to ensure our loved ones are well provided for in […]