On December 13, 2022, the CBN launched the Regulatory Sandbox for testing innovative products and services in the Nigerian payments space before market rollout. In this short note, we discuss the criteria for qualifying as [...]
By a circular dated 22nd November 2022 (the “Circular”) NAICOM introduced tenure limits for Executive Directors (EDs) of Insurance and Reinsurance Companies in Nigeria. Consequently, with effect from 1st January 2023, the tenure of CEOs [...]
On 27 June 2022, ǼLEX secured a landmark judgment for Accugas Limited (“Accugas”) at the Abuja Division of the Federal High Court (“the “FHC) by moving the FHC to hold that the Finance Act, 2019 [...]
In this Article, our Olusina Sipasi and Merit Okafor Examine the powers of the federal Inland Revenue service to recover unpaid stamp duties on dutiable instruments, especially as it relates to financing transactions.
Our Adedapo Tunde Olowu SAN, Ngozi Efobi and Christabel Ndeokwelu authored the Nigerian chapter of Lexology’s Getting the Deal Through Complex Commercial Litigation Guide for 2023. The 2023 chapter provides local insights into the [...]
We are pleased to announce that AELEX has been acknowledged as 'Firm of the Year - Nigeria' at the 2022 edition of the Who's Who Legal (WWL) Awards.
Cryptocurrencies have largely received conflicting treatment by regulators in Nigeria. While the Central Bank of Nigeria (“CBN”) has increasingly been hostile towards cryptocurrencies, the Securities and Exchange Commission (“SEC”) has, for the most part, adopted [...]
Contactless payments offer a convenient and, where proper safeguards are introduced, significantly safer payment method. With projections that Contactless Payments will reach a global value of USD164.15 billion by 2030 and major players in the [...]
This year, we will be having another stellar panel discussing pertinent issues and the pivotal role Nigeria holds on the African continent. The wealth of knowledge and experience of the selected panel will enrich the [...]
Dear sir/madam, We trust this email meets you well. Please be informed that there have been a few regulatory updates in the Nigeria data protection space recently that may affect your business as a data [...]
The NDPB released a compliance notice (“Notice”) on 13 October 2022, which contained additional compliance requirements for data controllers under the National Data Protection Adequacy Programme (“NaDPAP”) Whitelist. We have highlighted some of these updates [...]
On 6 October 2022, the NDPB released the Data Protection Bill 2022 (“the Bill”). The Bill appears to be a beacon of hope for a final legislation on the subject, as the National Commissioner of [...]
AELEX is pleased to note that the President of the Federal Republic of Nigeria has given his assent and the Nigeria Startup Act (NSA) has now been signed into law. The NSA is a joint [...]
On 6 October 2022, the Nigeria Data Protection Bureau (“NDPB”) released the Data Protection Bill 2022 (“the Bill”). In this article, our Ifeoluwa Ebiseni, Nenjom Asuk and Ademayowa Borokinni examine the Bill and highlight the attendant issues [...]
In recent times, Buy Now Pay Later (BNPL) arrangements have witnessed a huge surge, recording almost 400% global growth between 2019 – 2021, and expected to further increase by over $480 billion between 2021 – 2026
Startup Acts have proven themselves to be a veritable tool in spurring/maintaining development of startup ecosystem. As such, the Nigerian Startup Act (the “Act”), a product of an impressive startup ecosystem, stakeholder engagement and regulatory foresight, which has just received presidential assent has quite the big shoe to fill.
An M&A deal can be described as a marathon. The process from initial negotiations to drafting term sheets, conducting due diligence, negotiating and eventually, the signing and closing (or completion) of the transaction documents is [...]
Determining the Role of Law in Automated Transactions Smart Contracts, a blockchain-based solution that ensure automatic performance of the terms of contracts, hold a great deal of potential in redefining the [...]
Retirement Saving Account (“RSA”) holders can now access 25% of their RSA balance towards making equity contribution for residential mortgages in Nigeria. This was contained in a statement released by Nigeria’s pensions regulator, the National [...]
ǼLEX Partners, a leading law firm with offices in Lagos, Abuja, Port Harcourt and Accra, has admitted two new partners into the practice with effect from 6th September 2022. The appointments reflect the firm's culture [...]
