SEC NEW RULES ON ALLOTMENT OF EQUITY SECURITIES BY PRIVATE COMPANIES
May 24, 2024May 24, 2024

Security and Exchange Commission (SEC) on 7th of May 2024, passed a Rule ‘Exposure of proposed New Rules on the Issuance and Allotment of Private Companies Securities. Apart from regulating how securities are issued by private companies, the new rule is also aimed at providing alternative fundraising options to private companies. In this article, we’ll…

CBN Guideline on Cybersecurity Levy
May 16, 2024May 16, 2024

On May 6, 2024, the Central Bank of Nigeria issued a circular directing all banks, financial institutions, and payment service providers to remit 0.5% (0.005) of all electronic transactions to the National Cybersecurity Fund (NCF). In this article, we will explore the scope of the guidelines and recent developments since the issuance of the directive….

Doing business in the free trade zone in Nigeria
May 9, 2024May 9, 2024

Nigeria is committed to attracting foreign investors and promoting economic growth in the country. To achieve this, the government has established free trade zones where businesses can operate without paying taxes or other fees. These areas are available to both local and foreign companies, and offer significant tax incentives, including tax holidays. In this write-up,…

CAN A FOREIGNER OWN LAND IN NIGERIA
May 2, 2024May 2, 2024

Are you a non-Nigerian currently residing in Nigeria for work or other reasons? Or are you a foreigner interested in investing in real estate in Nigeria but unsure of whether it’s legal to own property as a foreigner? This article aims to provide clarity on the legality of foreign land ownership in Nigeria. WHO IS…

What do I need to know before buying a property in Nigeria
April 25, 2024April 25, 2024

Real estate investment continues to be a profitable financial venture in Nigeria. Acquiring real estate offers the potential for capital appreciation. However, like all investments, real estate carries risks if not acquired properly. In this article, we will be considering the various stages of a real estate transaction and what every buyer needs to know…

HOW DO I REGISTER A PRIVATE UNIVERSITY IN NIGERIA
April 18, 2024April 18, 2024

In Nigeria, educational institutions established for university, technological, or professional education are classified as Institutions of Higher Learning. There are various types of Institutions of Higher Learning, such as polytechnics, colleges of education, colleges of agriculture, and universities, which may be owned by the government or privately owned. This article will focus on the procedure…

CBN new capital requirement for banks in Nigeria
April 11, 2024April 11, 2024

To promote the resilience, solvency, and capacity of banks while continuing to augment the growth of the Nigerian economy among the prevailing macroeconomic challenges in Nigeria, the Central Bank of Nigeria (CBN), on 28 March 2024 reviewed the minimum capital requirement for commercial, merchant, and non-interest banks. This article will consider in detail, the requirements…

HOW TO REGISTER WITH THE NIPC IN NIGERIA
April 4, 2024April 4, 2024

To benefit from the various incentives that Nigeria offers to foreign businesses, they must first be registered with the Nigeria Investment Promotion Commission (NIPC). This commission is a Federal Agency that oversees, coordinates, and monitors all investments in Nigeria. This article aims to clearly understand the process and NIPC registration requirements that foreign investors need…

WHAT ARE THE TAX INCENTIVES AVAILABLE TO FOREIGNERS IN NIGERIA
March 28, 2024March 28, 2024

If you’ve ever wondered what are the tax incentives for foreigners starting a business in Nigeria, this article provides all the answers that we hope will enable you to decide whether or not Nigeria is a good place to start your business as a foreigner. There are many factors a foreign investor should put into…

Suspension of the Expatriate Employment Levy in Nigeria
March 21, 2024March 21, 2024

The temporary suspension of the expatriate employment levy has been announced. In our previous article, we promised to provide updates on developments that may arise from the Expatriate Employment Levy (EEL) policy. For context, the Expatriate Employment Levy was launched on the 27th day of February 2024 by the Federal Government to strike a balance…