ǼLEX is proud to be sponsoring the African Private Equity and Venture Capital Association (AVCA) Focus Live event scheduled to hold on Friday 13th September, 2019 at the Eko Hotel, Victoria Island, Lagos, from 9.30am [...]
With more organisations migrating their functionalities online, the National Information Technology Development Agency (NITDA) had previously issued the Nigerian Data Protection Regulations. Following recommendations by stakeholders, NITDA has released a draft implementation framework informing individuals [...]
The Economic Community of West African States (ECOWAS) recently launched its competition regulator called the ECOWAS Regional Competition Authority (ERCA) in Banjul, Gambia. ERCA, by implementing the earlier published ECOWAS competition rules, is expected to promote, maintain and [...]
ǼLEX congratulates the Interswitch group on the launch of the Verve Global Card in New York, just months after the card’s debut in Dubai, UAE. This achievement is evidence that Nigerian companies can operate on [...]
To address the challenges with taxing the digital economy in Nigeria, the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, recently mentioned FIRS’ plans to begin the collection of 5% Value Added [...]
The Federal Inland Revenue Service (FIRS) recently issued a warning against companies whose bank accounts had been placed under lien by FIRS but were yet to reconcile their tax records with FIRS. In the public [...]
The Federal Inland Revenue Service (FIRS) recently issued a public notice calling out the failure of some companies to deduct and remit withholding tax (WHT) and value added tax (VAT) from compensation, including commissions, paid [...]
On 29th July 2019, a subsidiary of Telco major – MTN, was issued a licence by the Central Bank of Nigeria to operate as a Super-Agent, making MTN the first Telco in Nigeria to venture [...]
In July 2014, the then Minister of Finance – Dr Ngozi Okonjo- Iweala signed the Value Added Tax (Exemption of Commissions on Stock Exchange Transactions) Order, 2014 to waive payment of Value Added Tax (“VAT”) on [...]
Nigeria has a new Asset Management Corporation of Nigeria (Amendment) Act, 2019 (AMCON Act) as the President of the Federal Republic of Nigeria signed it into law on 7th August 2019. The AMCON Act [...]
A pestering issue in the tax administration has been poor tax compliance, difficulty in payment of taxes, multiple taxations amongst others. To address this issue, the Joint Tax Board has introduced a new Tax Identification Number [...]
Free float is the percentage of a publicly quoted company’s shares which is not restricted from public trading and is made available on the stock exchange market. The free float of a publicly quoted company is [...]
ǼLEX Partner Mr. Ola Orewale was at the special Enhancement Workshop organised for the Principal Officers of Tertiary Institutions, Thought Leaders and Administrators at Michael Otedola College of Primary Education, Epe, Lagos State. He delivered [...]
The arrival of financial technology (“FinTech”) companies continues to change the way we live and bank. By virtue of their operations, from payments and remittances to lending and wealth management, FinTech companies are attractive targets [...]
Social media has come to be recognised as a very important tool for the circulation of information due to its global reach. Yet, if not used properly, it could pose a lot of disadvantages. This double-edged [...]
Mrs Funke Adekoya (SAN), Partner, Ibifubara Berenibara, Senior Associate, and Oluwaseun Philip-Idiok, Associate, are contributors to the Global Arbitration Review (GAR) know-how on Commercial Arbitration in Nigeria. The GAR is the leading resource on international [...]
Electricity was first generated in Nigeria in 1866 when two generating sets were installed to serve the Colony of Lagos. In 1951, the government of Nigeria, through an Act of Parliament, established the Electricity Commission [...]
Dr. Adesegun A. Akin-Olugbade, International Counsel at ǼLEX, has been appointed as a member of the World Trade Board. He joins twenty other global trade and finance leaders on this prestigious board, as the first [...]
The President of the Federal Republic of Nigeria, Muhammadu Buhari, recently signed an executive order titled: “Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme Order 2019 No.: 007 of 2019” (“the Order”). The Order [...]
During legal representations, a lot of sensitive matters are usually disclosed to a counsel and it would be unfair to the client if these matters can be divulged without any restrictions. More so, unrestricted disclosure [...]
