Newsletters

NEW CBN LICENCING REQUIREMENTS FOR PAYMENT SERVICES

FILE PHOTO: Central Bank of Nigeria's logo is seen on the headquarters building in Abuja, Nigeria January 22, 2018. REUTERS/Afolabi Sotunde/File Photo - RC1E81C7FA80In line with the Central Bank of Nigeria’s (CBN) commitment to promote a strong and credible payment system in...

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SEC REGULATORY DEADLINE FOR CROWDFUNDING PLATFORMS

Pursuant to a statement dated 26th May 2021, issued by the Securities and Exchange Commission (SEC), all existing investment crowdfunding portals/digital commodities investment platforms (“Platforms”) are required to comply with the registration requirements and eligibility...

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SOURCES OF CAPITAL MARKET FINANCING FOR AGRICULTURE IN NIGERIA

INTRODUCTION According to the Food and Agricultural Organisation of the United Nations (FAO), agriculture remains one of the largest sectors of the Nigerian economy and employs two-thirds of the entire labour force. However, a major factor that has stifled the growth of the...

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FIRS Circular on Applicability of VAT to Financial Institutions

  WHICH FINANCIAL INSTITUTIONS' TRANSACTIONS ARE LIABLE TO VALUE ADDED TAX IN NIGERIA? THE FIRS PERSPECTIVE AND MATTERS ARISING  Value Added Tax (“VAT”) is a consumption tax that is levied at the rate of 7.5% on the supply of all goods and services that are backed by...

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HIGHLIGHTS OF THE FINANCE ACT 2020

INTRODUCTION The Finance Act, 2020 (the Act) was signed into law by President Muhammadu Buhari on 31st December, 2020. The objectives of the Act include reforming Nigerian tax laws to align with global best practices, supporting small businesses in line with the ongoing ease of...

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Security Arrangements Under CAMA 2020

Background The signing into law of the Companies and Allied Matters Act 2020 (CAMA 2020) in August 2020 by President Muhammadu Buhari is generally believed by various stakeholders to be a positive development for businesses in Nigeria. The government has been keen on improving...

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FINANCE BILL, 2019 AND ITS IMPACT ON NIGERIAN BUSINESSES

Background The President of the Federal Republic of Nigeria, President Muhammadu Buhari, recently presented the Nigerian Tax and Fiscal Law (Amendment) Bill, 2019 (the Finance Bill) to the National Assembly for consideration and passage into law. The Finance Bill has been...

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