Payment Service Banks (“PSBs”) have remained a veritable vehicle for financial inclusion across countries since their introduction into the financial space,. In July 2021, the Central Bank of Nigeria (“CBN”) issued a Supervisory Framework for [...]
Partner and Head of our Technology and Innovation Practice Group, Davidson Oturu, was on Africa Independent Television (AIT) - Focus Nigeria Program where he discussed the regulatory environment and the need for a Nigerian Start-up [...]
Considering the necessity of adequate cybersecurity systems in this digital world, the ǼLEX Fintech Centre (“the Centre”) in its latest podcast hosted Ms. Confidence Staveley, the Founder and Executive Director of Cybersafe Foundation. In this podcast, [...]
On 1 January 2021 , a new era began in Africa with the commencement of trade under the African Continental Free Trade Area (“AfCFTA”) regime. The AfCFTA seeks to create a single market for goods [...]
SEC Introduces New Custody Rules for Collective Investment Schemes and Mutual Funds
During the 306th Banker’s Committee Meeting in July 2021, the Governor of the Central Bank of Nigeria (CBN) announced that CBN will start working on a digital currency, the eNaira, which will support and complement [...]
There has been a lot of interest in the activities of investment technology companies (investment tech) as some of them have been utilising platforms offering securities of foreign companies to investors in Nigeria. However, these [...]
Are you a start-up or are you contemplating starting that business as you do not have a clue on how to proceed, do not fret as this start-up tool kit[1] will guide you through on [...]
In line with the Central Bank of Nigeria’s commitment to promote an efficient and credible payments system, it issued the Guidelines for Licensing and Regulation of Payments Service Holding Companies in Nigeria which sets out [...]
Non-payment in construction projects could be extremely frustrating for the contractor. The contractor's frustration is further heightened where the contract prevents it from opting to suspend the performance of works because of the employer's non-payment. [...]
2021 has been an active year for the FinTech Industry as the Nigerian public appears to be embracing technology solutions following the Covid-19 lockdown. There have also been significant regulatory and legal developments in the [...]
ǼLEX is excited to have been engaged to draft a Startup Bill for Nigeria. The Bill is a joint initiative by Nigeria’s tech startup ecosystem and the Presidency to harness the potential of Nigeria's digital economy [...]
The Central Bank of Nigeria recently issued the Regulatory Framework for Mobile Money Services in Nigeria and the Guidelines for Mobile Money Services in Nigeria which sets out the modalities for providing mobile money services [...]
ǼLEX is delighted to announce that it has been shortlisted for the Technology, Media & Telecommunications Team of the year for the 2021 edition of the African Legal Awards. The African Legal Awards recognises exceptional achievement [...]
There are currently over 4000 (four thousand) cryptocurrencies in circulation and about 51,200,000 (fifty-one million, two hundred thousand) active traders of cryptocurrency around the world. With the proliferation of cryptocurrency and the associated technology that [...]
Following recent currency fluctuations experienced in many countries, parties to contracts are examining the force majeure provisions of their existing contracts to determine if currency devaluation may trigger their force majeure clauses. In this article, [...]
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The Nigerian Securities and Exchange Commission (“SEC”) released its Rules on Crowdfunding (“the Rules”) to regulate investment-based crowdfunding in Nigeria. The effective date of the rules is set at 21 January 2021 and entities who [...]
The Securities and Exchange Commission(“SEC”) on 16 June 2021 announced its Regulatory Incubation Program (the “RI Program”) for financial technology companies (“FinTechs”) offering services and products in the Nigerian Capital Markets space who are uncertain [...]
The AELEX Technology, Media and Telecommunications practice group presents its 2021 Webinar themed-”"THE FUTURE OF TECHNOLOGY AND INNOVATION IN NIGERIA”. The webinar promises a line-up of seasoned experts (speakers) in technology and related fields, within and beyond [...]
