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 →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 →In the bid to cushion the effects of the COVID-19 pandemic ravaging the world with attendant impact on businesses and economies of nations, several fiscal measures have been put in place by relevant government agencies in Nigeria. Below, we give an overview of these measures and how you can maximize them for competitive and business …
More →The Financial Reporting Council (FRC) recently issued Guidance dated April 22, 2020, for the directors and those charged with governance to assess the risk of COVID-19 at an early stage of the financial reporting and audit process concerning the preparation of financial reporting (quarterly, interim and annual) ending on or after January 1, 2020, and …
More →Further to the outbreak and rapid wide spread of Corona Virus (Covid-19) in Nigeria and its debilitating effect on the Nigerian economy, there has been several economic interventions across various sectors aimed at cushioning the effect of the Covid-19 pandemic on individuals, businesses and the economy as a whole. These interventions include stimulus package released …
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