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Further to our Regulatory Compliance Update on the National Action Plan on the Ease of Doing Business in Nigeria [See here] the Acting President, Prof. Yemi Osinbajo, on the 18th day of May 2017, signed three executive orders, one of which is the promotion...
Introduction
Taxation of non-residents in Nigeria has been quite an interesting area of tax law considering the dynamism of commerce and increase in trans-border transactions by multinational enterprises (“MNEs”). Also, the recent tax drive by...
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Relevant Facts:
1. By an amended Writ of Summons and Statement of Claim sealed out of the High Court of Lagos State, Nigeria Fijabi Adebo Holdings Limited and its alter ego, Dr. Emmanuel Fijabi...
Relevant Facts:
On 13 April, 2017 the Federal High Court sitting at Abuja (the Court), with the Honourable Justice G.O. Kolawole presiding, held the activities of the Nigerian Postal Service (NIPOST) in seeking to enforce the provisions of the Stamp Duties...
CNOOC Exploration and Production Nigeria Limited & South Atlantic Petroleum Limited (“The Appellants”), who are contractors to the Oil Mining Lease 130 Production Sharing Contract (“PSC”), prepared the petroleum profit tax returns for the 2010 accounting...
Relevant Facts:
On 13 March, 2017 the Federal High Court (Coram: Honourable Justice (Prof.) Chuka Austine Obiozor (the “Court”) in an action (FHC/L/CS/126/2016: Retail Supermarkets Nigeria Limited v Citibank Nigeria Limited & Central Bank of Nigeria...
Money laundering is the act of concealing the true origin and purpose of illegally acquired money. It is punishable in Nigeria with a jail term of between 7 and 14 years.
For purposes of Nigeria’s anti-money laundering laws (“AML”), a non-financial institution...
Early this month, the Nigerian Government released to the public its Economic Recovery and Growth Plan (“ERGP”), a Medium-Term Plan for 2017-2010 developed for restoring economic growth.
The ERGP address issues of energy from the perspective of electric...
On February 21, 2017, the Presidential Enabling Business Environment Council approved a 60-day National Action Plan on the ease of doing business in Nigeria (the “Plan”). Almost midway into the life of the Plan, we provide you with a summary of the Plan...