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On the 17th of April 2024, the firm of Anaje. Olumide. Oke. Akinkugbe (carrying on business as AO2LAW®) held a stakeholders’ webinar with the theme: “Pension Fund Administrators and Pension Fund Custodians: Rethinking the Strictures on Common Control”....
Nigeria’s pension system has undergone significant transformations since its inception in 1951. Initially plagued with malpractices, budgetary issues, weak administration, and a lack of accountability, the system has evolved into a defined contribution...
Nigeria is said to have 206.53 trillion cubic feet (tcf) of untapped proven gas reserves with an estimated recoverable gas reserve of 139.4 tcf. Despite the abundance of gas reserves, the production and development of gas have not been optimally harnessed....
The protection of the minority shareholders within the domain of corporate activity constitutes one of the most difficult problems facing modern company law. It is not unusual to find majority shareholders running a company in an illegal or oppressive...
On Wednesday, February 21, 2024, the Federal Inland Revenue Service (FIRS) in conjunction with the Nigeria Export Processing Zones Authority (NEPZA) issued a public document, captioned “Guidelines for Tax Compliance by Approved Enterprises Operating in...
PENSION FUND ADMINISTRATORS AND PENSION FUND CUSTODIANS: RETHINKING THE STRICTURES ON COMMON CONTROL
The Pension regime in Nigeria under the Pension Reform Act 2014 (“PRA” or the “Act”) is structured in a such manner that it creates role bifurcation between Pension Fund Administrators (“PFAs”) and Pension Fund Custodians (“PFCs”). The roles are stratified...
On 28th February 2024, the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu issued an Executive Order and Presidential Directives relating to the Oil and Gas Industry. The Executive Orders include: (i) the Oil & Gas Companies (Tax Incentives,...
On Tuesday, February 27, 2024, Nigeria’s President Bola Ahmed Tinubu announced the introduction of an Expatriate Employment Levy (the Levy) that will be administered by the Nigerian Immigration Service (NIS), a foremost agency in the Federal Ministry...
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