The Finance Act 2021 (“the Act”) was signed into law on the 31st of December 2021 by the President of the Federal Republic of Nigeria. The Act is effective from 1st January 2022 and amends 13 laws viz Capital Gains Tax Act, Companies Income Tax Act, Federal Inland Revenue Service Establishment Act, Personal Income Tax …
More →Read our contribution to the International Comparative Legal Guide on a practical cross-border insight into Merger Control Laws and Regulation in Nigeria.
More →It is no longer news that the provisions of the new Companies and Allied Matters Act (CAMA), 2020, which repealed and replaced the erstwhile Companies and Matters Act (CAMA), 1990 introduced several innovations aimed at improving business operation in Nigeria and the protection of the interests of various stakeholders, one of which is the Company …
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By Elizabeth Idigbe, Deborah Okpiaifo and Sandra Ifejika An independent director is a non-executive director with no material or pecuniary connection to the Company, other than approved directors’ remuneration and sitting fees. The concept of an independent director was first introduced in Nigeria in 2003 by the Securities and Exchange Commission’s (SEC) in its Code of Corporate …
More →The Corporate Affairs Commission (the Commission) on August 31, 2021, released a circular notifying the public that it had commenced the registration of Limited Liability Partnerships (LLPs) and Limited Partnerships (LPs). The Commission therefore deployed the registration interface for LLPs and LPs on the Company Registration Portal (CRP) and advised members of the public to commence the registrations of LLPs and LPs using the …
More →Introduction The Financial Reporting Council of Nigeria issued the ‘Nigerian Code of Corporate Governance’ (NCCG) in 2018, replacing all existing sectorial Codes of Corporate Governance in Nigeria. The Securities and Exchange Commission subsequently developed the ‘SEC Corporate Governance Guidelines’ (SCGG). By the nature of their operations and the additional need to protect the investing public, public companies are required …
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Authors: Ugochukwu Nwaokike, Ibukun Adebara The CBN, like other Central Banks globally, has commenced preparation for the issuance and operation of Central Bank-issued Digital Currency (CBDC). This project is driven by a collaboration between the CBN and its technical partner, Bitt. Inc. A CBDC is a digital representation of a fiat currency, denominated in an existing unit of account, …
More →This piece highlights some of the key provisions of the law that participants in the industry and the general public need to know.
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Author: Sharon Juwah Keywords: Electronic Bill of Lading, Shipping, Cross-border Trade The most important document since the beginning of international trade transactions is the Bill of Lading. The ‘Hamburg Rules’[1] defines a bill of lading in Article 1, as “a document which evidences a contract of carriage of goods by sea and taking over or …
More →Keywords: Bill of Lading, Shipping, Cross-border Trade AUTHOR: SHARON JUWAH INTRODUCTION A Bill of Lading is a document issued by the carrier of goods, to be transferred from the seller to the buyer.[1] It is also a document of title which confers certain legal rights to the holder of the document, such as the right …
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