HOW TO OBTAIN NIN IN NIGERIA AS A FOREIGNER
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HOW TO OBTAIN NIN IN NIGERIA AS A FOREIGNER

It is important for foreigners residing in Nigeria to obtain a National Identification Number (NIN), which is issued by the National Identity Management Commission (NIMC). This eleven-digit number serves as a unique identifier and is crucial for various legal and administrative purposes such as banking transactions, accessing healthcare services, obtaining a driver’s license, and other legal...

WHAT HAPPENS WHEN A BANK LICENCE IS REVOKED
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WHAT HAPPENS WHEN A BANK LICENCE IS REVOKED

The banking industry is built on trust and stability, with financial institutions serving as the backbone of modern economics. However, when a bank’s licence is revoked, the implications can be far-reaching and devastating. This rare but significant event can have a profound impact on the bank’s customers, employees, and the broader financial landscape. The revocation...

HOW TO SET UP A PHARMACY IN NIGERIA
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HOW TO SET UP A PHARMACY IN NIGERIA

Similar to other professions, registering a pharmacy in Nigeria follows a structured process that requires adherence to specific regulatory guidelines. These processes ensure that pharmacies operate within established frameworks to maintain professional standards and safeguard public health. This article offers a detailed guide on who qualifies to set up a pharmacy in Nigeria, how to...

REGULATORY UPDATE: CBN WITHDRAWS CIRCULAR ON CYBERSECURITY LEVY
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REGULATORY UPDATE: CBN WITHDRAWS CIRCULAR ON CYBERSECURITY LEVY

On the 6th of May, 2024, the CBN issued a circular directing all banks, financial institutions, and payment service providers to remit 0.5% of all electronic transactions as cybersecurity levy to the National Cybersecurity Fund (NCF). Our article examined the scope of the guideline. The circular has since its publication been met with mixed reactions...

SEC NEW RULES  ON ALLOTMENT OF EQUITY SECURITIES BY PRIVATE COMPANIES
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SEC NEW RULES ON ALLOTMENT OF EQUITY SECURITIES BY PRIVATE COMPANIES

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...

NEW CENTRAL BANK OF NIGERIA’S GUIDELINE ON CYBERSECURITY LEVY
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NEW CENTRAL BANK OF NIGERIA’S GUIDELINE ON CYBERSECURITY LEVY

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
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DOING BUSINESS IN THE FREE TRADE ZONE IN NIGERIA

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
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CAN A FOREIGNER OWN LAND IN NIGERIA

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 REAL ESTATE IN NIGERIA
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WHAT DO I NEED TO KNOW BEFORE BUYING REAL ESTATE IN NIGERIA

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
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HOW DO I REGISTER A PRIVATE UNIVERSITY IN NIGERIA

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...