Newsletters

In August 2023, President Bola Ahmed Tinubu inaugurated the Fiscal Policy and Tax Reforms Committee (“the Committee”) with a mandate to undertake a comprehensive overhaul of Nigeria’s tax system. Pursuant to this mandate, the Committee developed four major tax reform bills...

With the full rollout of Open Banking scheduled for August 2025, in this newsletter, we explore the intricacies of this pivotal development, exploring its foundational concepts, the framework guiding its implementation, and the profound implications for financial institutions,...

The Securities and Exchange Commission (SEC) has released a fresh Guidance Note clarifying its recent Circular on the Transmutation of Independent Non-Executive Directors and Tenure of Directors. This development has far-reaching implications for Capital Market Operators (CMOs)...

The Nigerian Investment Promotion Commission (NIPC) has introduced a revised Service Fee Schedule, impacting business registrations and Pioneer Status Incentive (PSI) applications. These changes reflect the Commission’s drive to enhance service delivery and support investment...

The Central Bank of Nigeria (CBN) has taken a bold step towards strengthening the country's foreign exchange market with the introduction of the Nigeria Foreign Exchange Code (FX Code). With this move, Nigeria aligns with global financial hubs like the United Kingdom and Hong...

The Nigerian tax landscape is on the brink of transformation with four key tax reform bills currently under review. From tax harmonization to revenue administration and dispute resolution, these bills aim to simplify processes, attract foreign investment, and strengthen the...

The 2024 Domestic Base Price (DBP) for natural gas reflects a significant milestone in Nigeria’s efforts to drive investment in the energy sector while addressing market realities. Our newsletter provides insight into the key provisions of the pricing framework, its...

The Lagos State Electricity Law marks a significant step towards decentralizing Nigeria’s electricity market, empowering the state to take full regulatory control. With NERC’s recent Transfer Orders, Lagos now has the autonomy to shape its intrastate electricity supply and...

The Corporate Affairs Commission (CAC) recently announced its intention to commence the enforcement of the Persons with Significant Control (PSC) Regulations 2022 and mandated Limited Liability Companies, Limited Liability Partnerships and other corporate entities to ensure...

The primary rationale for imposing the windfall tax on Nigerian banks arises from the substantial foreign exchange gains these institutions have realized due to the depreciation of the Naira. This newsletter examines the government's objectives, explores the potential impact of...

This newsletter provides insight into exit of Nigerian Bulk Electricity Trading Plc. (“NBET”) from the Nigerian Electricity Supply Industry (“NESI”) which creates a bilateral contract market arrangement, as well as reviews the Nigerian Electricity Regulatory Commission’s...

Further to the Paris Agreement, a legally binding international treaty on climate change adopted by one hundred and ninety-six (196) parties at the UN Climate Change Conference in Paris, on 12th December 2015 (COP21), countries and their institutional Banks have begun...