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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In recent years, the intersection between freedom of expression and cybercrime legislation has become a contentious issue in Nigeria. Section 24(b) of the Cybercrime Act criminalizes the intentional dissemination of false information through computer systems or networks, while Section 39…
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On the 6th of May, 2024, the Central Bank of Nigeria (CBN) issued a circular requiring banks and other financial institutions to levy a cybersecurity fee on all electronic transactions to enhance the country’s cybersecurity defenses. The circular was a…
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WHAT IS NAIRA ABUSE? “Naira abuse” typically refers to the improper handling, mutilation, or defacement of the Nigerian currency, the Naira. This can include actions such as tearing, writing on, or otherwise damaging the currency, as well as using it…
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