President Bola Ahmed Tinubu transmitted the Tax Reform Bills to the National Assembly for consideration in October 2024. The Bills aim to promote uniform procedures for the consistent and efficient administration of tax laws, facilitating [...]
Musical works often result from collaborative efforts, with various contributors playing unique roles. These roles may involve composing melodies, writing lyrics, creating beats, or producing rhythms. Contributors such as songwriters, composers, producers, and sound engineers [...]
The African Continental Free Trade Area (“AfCFTA”) Agreement establishes the world's largest free trade market, with the potential to revolutionise markets and economies across the continent. Projections indicate that AfCFTA could significantly boost intra-African trade [...]
Key Insights for Banks, Financial Holding Companies, and Public Companies under the SEC Code of Corporate Governance in Nigeria.
INTRODUCTION On 30th July 2024, the Federal High Cout sitting in Abuja delivered a landmark judgment in Suit No: FHC/ABJ/CS/665/2023: Primetech Design & Engineering Nigeria Limited and Julius Berger Nigeria Plc v. Corporate Affairs Commission. [...]
Introduction Pursuant to the Electricity Act, 2023 (the “EA”)[1], the National Electricity Regulatory Commission (the “NERC” or “Commission”) issued an order dated 30 April 2024 titled – Order on the Establishment of the Independent System [...]
On 26 March 2021, Zhongshan Fucheng Industrial Investment Co. Ltd (“Zhongshan”) obtained an arbitral award in the sum of about $USD70 million against the Federal Republic of Nigeria (“Nigeria”). The award flowed from a dispute [...]
ǼLEX is pleased that, in a unanimous judgment of the Court of Appeal in Appeal No. CA/LAG/CV/854/2022 – Sqimnga Nigeria Limited v. Systems Applications Nigeria Limited delivered on 26 March 2024, the Court of Appeal [...]
The removal of a director is popularly recognised as the exclusive preserve of a company’s members in general meetings in line with the provision of section 288(1) of the Companies and Allied Matters Act, 2020 [...]
ǼLEX is pleased to have represented the successful defendants; Pressure Control Systems Nigeria Ltd (PSCNL) and Baker Hughes (BH) in a suit instituted by a former employee in Suit No: NICN/LA/405/2019-Adebisi Arike Shonekan v. Pressure [...]
1. What are the main methods of resolving disputes in your jurisdiction? The main methods of resolving commercial disputes in Nigeria are Litigation and Alternative Dispute Resolution Mechanisms such as; Arbitration and Mediation. Parties may [...]
Nigeria has overhauled its nearly half-century-old regime on the administration of withholding tax (WHT) with the signing of the Deduction of Tax at Source (Withholding) Regulations 2024 by the Minister of Finance. [...]
Introduction Artificial Intelligence (AI) represents one of the greatest technological advancement of man and since its emergence, it has witnessed a widespread global adoption. From the introduction of smart assistants like Alexa, Cortana, Siri and [...]
The Securities and Exchange Commission (“SEC/Commission”) has issued a Framework on Accelerated Regulatory Incubation Program for the Onboarding of Virtual Assets Service Providers and other Digital Investments Service Providers (“ARIP Framework”), to facilitate the onboarding [...]
Is your state a party to the New York Convention? Are there any noteworthy declarations or reservations? Nigeria is a party to the New York Convention, and it acceded to the Convention on 17 March [...]
The authors of the National Report Nigeria, Olufunke Adekoya SAN, Adedapo Tunde-Olowu SAN, Perenami Momodu and Oluwaseun Philip-Idiok, confirm that the National Report as published in Supplement 131 of March 2024 reflects current arbitral practice [...]
Nigeria is a party to the United Nations Framework Convention on Climate Change (UNFCCC)[1] and other framework conventions such as the Paris Agreement of 2015, where the recommended net-zero target was set as year 2050 [...]
In a public notice issued on the 17th of May, the Nigerian Communications Commission (NCC) notified stakeholders of the temporary suspension of licences in three categories, namely: Interconnect Exchange License (‘IEX’), Mobile Virtual Network [...]
In recent years, competition law has become increasingly important in regulating market behaviour and ensuring fair competition among businesses. One of the critical areas that competition laws address is concerted action among competitors, including price-fixing [...]
