INTRODUCTION The parties executed a contract that has an arbitration agreement to resolve any dispute between same. During the arbitral proceedings, the Arbitral Tribunal issued Procedural Order 5 which allowed all the Respondent’s document requests and directed the Applicant to produce all the documents requested by the Respondent. However, the Arbitral Tribunal issued Procedural Order …
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Nominee Directors in Nigeria: What should I know for free? Written by: Tobenna Nnamani Partner, PUNUKA Attorneys & Solicitors Lagos, Nigeria t.nnamani@punuka.com www.punuka.com Introduction The concept of a “nominee director” is not strange to Nigeria but it is also not expressly provided in the principal legislation regulating the affairs of a company in Nigeria i.e. …
More →Securities litigation in Nigeria generally entails disputes between capital market operators (any individual or corporate duly registered by the Securities and Exchange Commission (SEC) to perform specific functions in the capital market), investors, securities exchanges, the issuers of securities and clearing agencies, and the SEC arising from the administration, management, and operation of investment schemes …
More →The Administrative Penalties under the sections 18 and 19 of the Finance Act 2023 – Wherein lies the Constitutional Basis? Author: Ifeanyi Ujah, Associate, PUNUKA Attorneys & Solicitors Introduction: The recent Finance Act 2023 (FA3)[1] ushered in numerous fiscal changes in Nigeria. Just like previous Finance Acts, the FA3 amended several legislations.[2] In particular, sections …
More →Authors: Ifeanyi Ujah– Associate, Punuka Attorneys & Solicitors Rosemary Nne Bernard– Associate, Punuka Attorneys & Solicitors Introduction: The fiscal measures by the administration of the Former President Muhammed Buhari culminated in the New Finance Act 2023, which was enacted by the National Assembly and Assented by the President on the 28th of May 2023; just …
More →SAFE Finance in Nigeria Written by: Tobenna Nnamani Partner, PUNUKA Attorneys & Solicitors Lagos, Nigeria t.nnamani@punuka.com www.punuka.com Introduction According to the African Venture Capital Activity Report 2022, seed stage deals continually comprise the largest proportion of venture capital volume in Africa. When categorized from sector specific level, …
More →OPEN BANKING REGULATIONS OF THE CENTRAL BANK OF NIGERIA AND THE OUTLOOK FOR THE FINTECH INDUSTRY IN NIGERIA Open banking is a term that refers to the practice of allowing third-party financial service providers to access customer data and transaction history held by banks and other financial institutions. This concept has gained popularity in recent …
More →The regulatory oversight for mergers and acquisitions in Nigeriais vested in the Federal Competition and Consumer ProtectionCommission (the “Commission” or “FCCPC”) by virtue ofthe Federal Competition and Consumer Protection Act 2018(“FCCPA” or “Act”). Click Here to read more or Download
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 …
More →INTRODUCTION Recently, the Securities Exchange Commission (The Commission) introduced its Regulatory Incubation Program (RI Program) through the release of Regulatory Incubation Guidelines. The Guidelines and the RI Program is predicated on Section 38 (1), (2) and (3) of the Investment and Securities Act, 2007 which sets the parameters for the categories of persons that intend …
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