In Nigeria, transferring land ownership is a significant process as land holds immense value and permanence as an asset. It’s crucial to ensure that land ownership is legally recognized to protect property rights and minimize the risk of disputes and potential loss of investment. The Land Use Act of 1978 regulates land ownership in Nigeria,...
In today’s digital age, the transfer of personal data across borders has become a common practice, driven by the global nature of business and communication. However, this practice brings with it significant concerns regarding the protection and privacy of data being transferred. Personal data, which includes sensitive information such as names, addresses, financial details, race...
Are you a foreigner looking to register your foreign company’s trademark in Nigeria? This article will outline ten important things you need to know about trademark registration in Nigeria. Some of these points may be familiar based on your experiences with registration in other countries, while others may be new to you. In no particular...
Suppose you have a registered trademark in another country other than Nigeria for a name, logo, slogan, or design for your company’s product or services. You are wondering whether securing another trademark registration on the same brand in Nigeria is the right way to go. In that case, this article provides a comprehensive guide on...
The Central Bank of Nigeria (CBN) recently released revised guidelines for International Money Transfer services in Nigeria. The guideline aims to liberalize the foreign exchange market, ensure transparency in foreign exchange transactions, boost diaspora remittances and other foreign capital inflows to Nigeria, promote efficient price discovery mechanisms and the evolution of an appropriate market-determined exchange...
Opening a bank account in Nigeria as a foreigner is a crucial step towards establishing your financial foothold in one of Africa’s largest and most dynamic economies. Whether you are an expatriate, a business investor, or an international student, having a local bank account is essential for seamless financial transactions and integration into the Nigerian...
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...
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...
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...
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...
