The digital asset ecosystem in Nigeria is rapidly evolving, fueled by the rise of blockchain technology, cryptocurrencies, and other virtual assets. In order to regulate and harness the potential of this growing sector, the Securities and Exchange Commission (SEC)…
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The Accelerated Regulatory Incubation Program (ARIP), introduced by the Securities and Exchange Commission (SEC) of Nigeria, is a pivotal framework designed to streamline the onboarding process of Virtual Assets Service Providers (VASPs) and Digital Investments Service Providers (DISPs). This program…
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Background In the rapidly evolving landscape of financial technology, regulatory frameworks are crucial for ensuring market integrity, protecting investors, and fostering innovation. One significant initiative in this realm is the Securities and Exchange Commission’s (SEC) Accelerated Regulatory Incubation Program (ARIP).…
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Background Recapitalization is a process often mandated by regulatory authorities to ensure the financial stability of banks. It refers to the process of increasing a bank’s financial strength by raising additional capital. In Nigeria, the Central Bank of Nigeria…
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Background Nigerian Free Trade Zones (FTZs) are designated areas where businessesare afforded favorable conditions, including reducedregulatory burdens and tax incentives to encourage investment and economic activity. However, it is imperative to emphasize that Companies doing business within these zones must…
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Nigeria’s Free Trade Zones (FTZs) are valuable for businesses, offering significant advantages, especially regarding tax incentives and legal benefits. These zones are strategically designed to drive economic growth by attracting foreign and domestic investments, facilitating job creation, and promoting the…
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Background A free-trade zone (FTZ) is a class of special economic zones. It is defined by the Nigerian Export Processing Zone Authority as a geographically designated area deemed to be outside the customs territory within which national regulations to company registration, production,…
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Background Foreign Direct Investment (FDI) is the process by which a firm or individual from one country invests in business interests within another country. Typically, FDI involves significant ownership stakes in foreign businesses or acquiring assets such as factories, machinery,…
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Background In the complex financial landscape of Nigeria, the Central Bank of Nigeria (CBN) plays a critical role in ensuring the stability and integrity of the banking sector. The CBN’s authority to revoke banking licenses is one of its most…
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The Licensing Regulations 2019[1] (the Regulation) was enacted by the Nigerian Communications Commission (NCC) on 11th January, 2019 under the authority conferred by sections 33 and 70 of the Nigerian Communications Act[2] to govern the licensing processes for communication services…
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