Recently, the Central Bank of Nigeria (CBN) fined 3 commercial banks (Stanbic IBTC, Access Bank and the United Bank for Africa (UBA), for flouting its crypto currency trading restriction issued a year ago. According to the Apex Bank, some of the violations carried out by the above mentioned banks include; Operating accounts used for crypto trading Failure…
INTRODUCTION Data is an important asset in any organization and as such data protection compliance should be a top priority for all businesses. More so, the increased rate of cybercrimes within the African continent, including Nigeria, and the growing demand for cyber security, has demonstrated the importance of data protection compliance particularly amongst businesses and…
INTRODUCTION Amongst other concerns associated with starting and running a business, fundraising is one of them. There are several fund raising options to consider to consider which we shared in our previous article you may read it HERE. There are primarily two ways in which startups could fund their businesses; 1. Equity financing; in which…
INTRODUCTION A patent is an exclusive legal right secured over an invention. It is a right that protects a product or a process which provides a new way of doing something, or offers a new technical solution to a problem such as discovery on a new process of producing a chemical compound, a new drug…
Ensuring effectiveness and building trust within the community are critical for any NGO. To achieve their aims, an NGO must operate with transparency, communicate clearly, and engage stakeholders consistently. This approach not only maximises the impact of their programs but also fosters a positive reputation in the wider public. A Non-Governmental Organisation (NGO) is a…
In Nigeria, the directors of a company are regulated by The Companies and Allied Matters Act (CAMA). Section 244(1) of CAMA 2020 defines a director as a person duly appointed by the company to direct and manage the business of the company. There are Life Directors, Shadow Directors, Executive and Non- Executive Directors, Managing Directors,…
Crowdfunding is a form of financing that allows people or businesses to raise small amount of money in the form of donations, loans or investments from large numbers of people, while crowdfunding platforms are websites that enable the interaction between fundraisers and the crowd (public). Financial pledges are usually made and collected via the crowdfunding…
Few years ago, if you needed to make financial investments, you had two options; do it yourself or work with investment advisers. However, the advent of robo-advisors has brought about the third option. WHAT ARE ROBO ADVISORS? Also known as digital investment advisors, they are financial advising platforms that provide financial advice and or manages…
With the great surge in demand for fast and convenient access to credit facilities by both individuals and businesses across Africa, traditional lending institutions such as banks continue to fall below expectations with tedious paperwork, high-interest rates, high collateral, and in some cases delayed processing. This has given rise to the emergence of digital lending/credit…
Microfinance Banks are mini banks licensed by the Central Bank of Nigeria (CBN) to carry on the business of microfinance services such as savings, loans, domestic fund transfers, and other financial services which they provide for their customers particularly the economically disadvantaged, subsistence farmers, artisans, micro-entrepreneurs, etc., and to a large extent unbanked people in…
