Nigeria’s Investments and Securities Act 2025: A New Era for Capital Markets

The Investments and Securities Act 2025 (“ISA 2025”) was assented to on 31st March 2025 by President Bola Ahmed Tinubu. It repealed the Investment and Securities Act of 2007 (“ISA 2007”). The new legislation was driven by the need to align Nigeria’s capital market with global standards and reflect the changing investment landscape, including the evolvement […]

Citizenship By Investment: A Progressive Step?

Globally, governments are deliberate in implementing policies to achieve specific objectives. In Nigeria, the House of Representatives, a legislative arm of government, recently introduced a Bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999 (as amended) (the “Constitution”) to include Citizenship by Investment (“CBI”), as one of the classes […]

The Nigeria Tax Bill 2024: Taxation of Digital Assets in Nigeria

The global adoption of cryptocurrencies, Non-Fungible Tokens (NFTs), and other digital assets has transformed the way businesses operate, invest, and transact. AS these digital assets gain prominence, understanding how they are taxed and its implications becomes crucial for businesses navigating the evolving tax landscape in Nigeria

An Overview of the Nigerian Communications Commission’s Draft Licence Framework for International A2P Messaging in Nigeria

Introduction The Nigerian Communications Commission (NCC) recently unveiled its Draft Licensing Framework (the “Framework”) for International Application-to-Person (A2P) Messaging. This development underscores Nigeria’s commitment to establishing a regulated ecosystem for digital communications in line with global trends. A2P messaging enables Over-The-Top (OTT) service providers communicate directly with their customers via Short Message Service (SMS) transmitted […]

Reminder on the Registration of Data Controllers and Data Processors of Major Importance with the Nigeria Data Protection Commission

On 14th February 2024, the Nigeria Data Protection Commission (the “Commission”) issued a Guidance Notice (“the Notice”) on the registration of Data Controllers and Data Processors of Major Importance (DCMI and DPMI). Section 65 of the NDPA defines a DCMI and DPMI as a data controller or data processor that is domiciled, resident in, or […]

Nigerian Courts Will Grant Anti-Suit Injunctions – A Review of P. v C.

Introduction Anti-suit injunctions are orders, usually made by courts in the seat of arbitration, restraining a party from commencing or continuing court proceedings in breach of an agreement to arbitrate. In P v C[1], the claimant (P) sought anti-suit injunctions from the High Court of Lagos State against the defendant (C) who had commenced multiple court […]

Self-Advertising Under Scrutiny: Exploring ARCON’s Boundaries

Advertising is an important tool for providing visibility to a business’s products and services. Over the years, advertising has evolved from traditional (billboards, television, or radio jingles) to digital adverts that leverage technology and social media platforms. The Advertising Regulatory Council of Nigeria (ARCON) was established in 2022 to replace the Advertising Practitioners Council of […]

Examining the FCCPC’s Sanction of Meta Inc. for its Alleged Data Privacy Violation

In January 2021, instant messaging application – WhatsApp updated its privacy policy, which among several introductions, enabled certain information (such as contact details and the content of some messages) to be shared with Facebook and potentially used for advertising purposes. Users who did not wish to share this data were given the option to delete […]

Restrictive Covenants in Employment Contracts: How Enforceable are They?

The beauty of a contract is the liberty contracting parties enjoy in deciding the terms that bind them. This basic principle extends to our revered courts, who are bound to interpret contracts to give effect to the parties’ agreement. As such, courts should not rewrite the terms of an agreement willingly entered into by parties. […]

Sanctity of Arbitration Agreements: Important Lessons from The Supreme Court’s Decision in NNPC V Fung Tai Engineering Company

In its recent decision in Nigerian National Petroleum Corporation v Fung Tai Engineering Company, the Supreme Court came out strongly in favour of arbitration by reaffirming the sanctity of arbitration agreements and the limits to the courts’ intervention in arbitral proceedings. Why Arbitration? Black’s Law Dictionary defines arbitration as: “a dispute resolution process in which […]