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INTRODUCTION
Until recently, before the Companies and
Allied Matters Act, 2020 (“CAMA 2020”) was passed into law, the Insolvency
practice in Nigeria was devoid of a defined legal framework. Once an
incorporated entity was declared insolvent by a competent...
The Federal High Court (Federal Inland Revenue
Service) Practice Directions, 2021(the Practice Directions) came into
effect on 1st June 2021. It provides a new set of rules for tax
litigations concerning the Federal Inland Revenue Service (FIRS). The
following...
Introduction
In May 2020, the Nigerian Government announced the commencement of the Marginal Fields Bid Rounds through the issuance of bid guidelines. This bid rounds came to a climax on 31 May 2021 through the issuance of Award Letters to Awardees. In...
Introduction
On 6 May 2021, the Nigerian President launched the
National Policy for the Promotion of Indigenous Content in the Nigerian
Telecommunications Sector (the “Policy”). The Policy was developed by the
Ministry of Communications and Digital Economy...
The Department of Petroleum Resources (DPR) recently approved the
Guidelines and Procedures
for Obtaining Minister’s Consent to the Assignment of Interest in Oil and
Gas Assets 2021 (2021 Guidelines). The 2021 Guidelines repeals the Guideline and Procedures...
Introduction:
On 17th February 2021, the Tax Appeal Tribunal
(TAT) delivered its judgment in the case of Tourist
Company of Nigeria v. Federal Inland Revenue Service, Unreported Appeal No.
TAT/LZ/VAT/033/2018 (the Judgment). The Judgment considered...
Before the
advent of the Nigeria Data Protection Regulation, the only legislation with
provisions touching on Data Protection was the 1999 Nigerian Constitution,
which provided that “the privacy of citizens, their homes, correspondence,
telephone conversations...
After the political
launch of the AfCFTA (“The Agreement”) which clearly was in the right
direction, the real challenge that stares in the faces of every African policy
maker, entrepreneur and investor is how do we ensure that its impact materializes
at...
Introduction:
By virtue of a letter dated 5 February 2021[1], the Central Bank of Nigeria
(CBN) directed all banks, non-bank financial institutions and other financial
institutions to, with immediate effect, identify and close bank accounts being
used...