The Money Laundering (Prevention and Prohibition) Act, 2022 introduces stricter regulations for financial and non-financial businesses in Nigeria. It mandates reporting suspicious transactions, customer identification, and record-keeping, with significant...
The Money Laundering (Prevention and Prohibition) Act, 2022 introduces stricter regulations for financial and non-financial businesses in Nigeria. It mandates reporting suspicious transactions, customer identification, and record-keeping, with significant...
In a landmark decision, Nigeria\'s Supreme Court has reinforced the financial autonomy of Local Governments, ruling against State Governors withholding funds. This judgment empowers Local Governments to receive direct allocations from the Federation Account,...
Nigeria\'s Ministry of Finance issued the Deduction of Tax at Source (Withholding) Regulation 2024, reshaping the rules for Withholding Tax (WHT). This regulation emphasizes that WHT should not add extra costs to contracts. This article explores gross-up...
Corporate espionage, or industrial espionage, involves obtaining trade secrets from competitors through illegal or unethical practices. This act poses a grave threat to businesses, leading to devastating financial consequences. As technology advances,...
Recent months have seen significant changes in the Nigerian Electricity Supply Industry (NESI) due to a Constitutional amendment and the Electricity Act 2023 (EA 2023). These reforms aim to decentralize the system, increasing sector activity. Despite...
Recent months have seen significant changes in the Nigerian Electricity Supply Industry (NESI) due to a Constitutional amendment and the Electricity Act 2023 (EA 2023). These reforms aim to decentralize the system, increasing sector activity. Despite...
Nigeria, a major crude oil producer, is often called a gas province with some oil. Despite vast natural gas resources estimated at over 200 trillion cubic feet, gas revenue lags behind oil. This highlights missed opportunities in revenue and energy development....
The Petroleum Industry Act (PIA) was enacted in 2021 to regulate Nigeria\'s oil and gas industry. One of its key provisions is the establishment of Host Communities Development Trusts under Chapter 3 of the PIA. The introduction of the Host Community...
As the name indicates, renewable energy refers to energy that is generated from natural sources which replenishes itself at a rate higher than the rate of consumption. They are also referred to as clean energy. Examples of this class of energy include...