Open banking is an emerging financial services model that focuses on the portability and open availability of customer data held by financial institutions. It involves opening up banking systems, particularly customer data, to third parties [...]
The Finance Act 2019 (“the Finance Act”) made significant changes to the tax regime in Nigeria, with broad implications for doing business, investment strategies and tax planning in Nigeria. Changes introduced by the Finance Act [...]
Section 20 of the Banks and Other Financial Institutions Act (BOFIA), 2020 provides two ways banks may acquire or hold shares in other entities. It provides that banks may hold shares in small and medium [...]
Dr Martin Tallhause looked out of his 15th-floor office window at the busy façade of the hustle and bustle of Ikoyi. He looked like he had just seen a ghost; worst still, he looked like [...]
Recently, companies that offer platforms for the purchase of shares in foreign companies (“investment tech” or “wealth tech”) to Nigerians have been in a tussle with the Securities and Exchange Commission, Nigeria (“SEC”) over their business activities. [...]
Are you running a start-up or contemplating starting that business and you are uncertain on how to proceed? Do not fret as AELEX Fintech centre has compiled this start-up tool kit to guide you on setting up your business.
ǼLEX congratulates our Mrs Funke Adekoya SAN on her appointment into the Oil and Gas Alternative Dispute Resolution Centre (ADRC) Body of Neutrals of the Department of Petroleum Resources (DPR). The ADRC was established to [...]
$69,000,000 (sixty-nine million US Dollars). That is how much the first Non-Fungible Token (“NFT”) was sold at an auction house. This sale along with other “mega-sales” have created an NFT hype that has spread across [...]
We are delighted to have contributed to the Nigeria Chapter of Corporate Tax 2021, a global corporate tax guide published annually by Chambers and Partners. The Chapter was jointly authored by Theophilus Emuwa and Jibrin Dasun. This [...]
Franchising has become an increasingly popular business model. As such, it is necessary for franchisors to ensure that their businesses are adequately protected and their intellectual property rights (IPRs) are secured before a franchise is [...]
Stableoins are unique cryptocurrencies that peg their value to external resources such as fiat currency (central bank issued currencies), commodities and other cryptocurrencies. The AELEX FinTech Centre considers this crypto asset in an article written [...]
AELEX heartily congratulates our Funke Adekoya SAN on her appointment as the President of the ILFA. ILFA’s mission is to build legal excellence in Africa by providing access to advanced legal training, networking opportunities and education for African [...]
It is common for parties in commercial construction projects to include sectional completion provisions in their contracts where they have agreed to complete works in sections or phases. These provisions provide information on when the [...]
Over the past few weeks, the Central Bank of Nigeria (“CBN”) issued circulars amending and clarifying the procedure for receipt of diaspora remittances (“the Circulars”) in Nigeria. In accordance with the new policy introduced by [...]
The Central Bank of Nigeria (CBN) recently released the Framework for Regulatory Sandbox Operations and the Framework for Quick Response (QR) Code Payments in Nigeria. According to the CBN, the frameworks are aimed at strengthening [...]
The National Information Technology Development Agency (NITDA) has extended the timeline for filing the 2021 data audit report from 15 March 2021 till 30 June 2021. In 2019, the National Information Technology and Development Agency [...]
In celebration of the International Women's Day, 2021, the ǼLEX Fintech Centre (“the Centre”) has published as part of its interview series, the podcast themed ‘Choose to Challenge in the Fintech Sector’. In this podcast, Katharina Dalka [...]
With the potential that exists to raise funds through the primary market, there are projections that initial public offerings (IPOs) may be on the rise in 2021. In this article, our Rapheal Irenen examines the regulatory [...]
The Technology, Media and Telecommunications (TMT) Practice Group of ǼLEX has commenced the operation of the ǼLEX FinTech Centre ("the Centre") from today, 1st March 2021! The Centre, which is a virtual hub for all registered [...]
The objective of open banking is to have a payments and markets infrastructure which provides customers with the ability to review all their banking and financial information seamlessly. Open banking will lead to a [...]
