Nigeria’s IPO Lull: When do the Clouds Finally Gather?

“IPO activity in the year remained mute …” so said Mr. Oscar Onyema, CEO of Nigeria’s premier and biggest bourse, the Nigerian Nigerian Stock Exchange(”NSE”), while giving his review of the 2017 calendar year and outlook for 2018.

There hasbeen a steady decline of initial public offerings (“IPOs”) in Nigeria since the 2007-2008 global financial meltdown. The period 2009 till date has witnessed a lamentable dearth of IPOs.

In this paper, I examine the IPO process in Nigeria, highlight the factors which may militate against company listings and proffer policy recommendations to improve and engender IPOs in Nigeria.

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RECAPITALIZATION OF COMMERCIAL BANKS: WHAT DOES THIS PORTEND FOR THE PENSION INDUSTRY?

RECAPITALIZATION OF COMMERCIAL BANKS: WHAT DOES THIS PORTEND FOR THE PENSION INDUSTRY?

Nigeria’s economic headwinds over the years have culminated in hyperinflation, macroeconomic variability, and instability in the exchange rate. As part of the approaches to tackle the economic instability bedevilling the country and bolster the country’s economy to be more resilient, solvent and in tune with the aspirations of the Federal Government of Nigeria , the Central Bank of Nigeria (“CBN”) issued a circular mandating commercial, merchant, and non-interest banks to shore up their capital base. This recapitalization exercise is backed by Section 9 of the Banks and Other Financial Institutions Act, 2020 (“BOFIA”) which empowers the apex bank to, from time to time determine the minimum paid-up share capital requirement of each category of licensed banks operating in Nigeria.

DIGITAL DISPUTE RESOLUTION: NAVIGATING LEGAL CHALLENGES IN ONLINE TRANSACTIONS

The development of Internet and Information and Communication Technology (ICT) has revolutionised the world and brought with them the emergence of online commerce. Trades are now concluded on the Internet between parties from different parts of the world. Online transactions have reshaped the foundations of trade and have brought many advantages to many individuals and corporate entities. More goods and services are being bought and sold online on a daily basis. In fact, some goods and services are bought and sold virtually online without any physical or tangible equivalent. Interestingly, Nigerian Courts are increasingly adopting digital tools, especially in the wake of the Covid-19 pandemic to resolve commercial disputes. Alternative dispute resolution (ADR) procedures such as arbitration and mediation are also being digitized.

Aligning ESG Practices in the Nigerian Oil and Gas Sector with Climate Change and Nigeria’s Net-Zero Goal by 2060

Nigeria’s oil and gas sector evolved over the decades. The sector has moved from an era where little or no effort was put towards addressing the negative impacts occasioned by oil exploration and other incendiary activities, the failure by the Federal Government (FG) to sign the Petroleum Industry Bill into Law and a plethora of socially related malaise that have affected the host communities; their source of livelihood and their living conditions to one where a robust Legislative framework coupled with Regulations have been put in place to make it align with global best practices.