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, [...]
Directors have a fiduciary duty to their companies as they hold positions of trust and confidence and as a result, have an obligation to act in good faith and in the company’s best interests. Ghana's [...]
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.
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 [...]
AELEX is the exclusive contributor to the Nigerian Chapter of The Legal 500 (Legalease): Franchise and Licensing Country Comparative Guides. The country specific Guide provides a pragmatic overview of how businesses can set up franchises [...]
In line with the impact of technological advancements on the communications industry, the Nigerian Communications Commission (which is the governmental agency responsible for the regulation of Value Added Services (“VAS”) providers in Nigeria) has published [...]
With the passage of the new Companies and Allied Matters Act, there have been a lot of discussions around its impact on the Nigerian business community. We highlight a few of the important sections in [...]
ǼLEX is the author of the Nigeria chapter of the Chambers Doing Business In...2020 Guide. The Chapter offers insight on Nigeria's legal system - including laws on employment, tax, competition, data protection, intellectual property as [...]
The Nigerian Stock Exchange (“NSE”), a company limited by guarantee, is currently in the process of being demutualised into a public company limited by shares (“Plc”). Upon conclusion of the demutualisation, the NSE will be [...]
On 4th February 2020, the President of the Federal Republic of Nigeria presented the Nigeria Visa Policy (NVP) 2020 which replaces the Nigeria Visa Policy 2012. According to the Federal Government, the NVP 2020 is [...]
The Nigerian Immigration Service (NIS) recently rolled out a new Visa on Arrival (VoA) application process for Business Travelers and African nationals. The new VoA, which became effective on 1st January 2020, does not apply [...]
ǼLEX is proud to announce that our Damilola Ogedengbe has been appointed as an officer of the Securities Law Committee of the International Bar Association for the 2020/2021 term. Damilola is a member of the [...]
The ‘Guidelines on Simplified Process for Foreign–to-Foreign Mergers with Nigerian Component’ was published by the Federal Competition and Consumer Protection Commission on 13 November 2019. Our understanding is that the Guidelines were issued pursuant to the [...]
Our Tiwalola Osazuwa and Frances Anaekwe Obiago are the contributors to the Nigerian Chapter on Franchising in the International Comparative Legal Guide (ICLG) 2020. The publication examines the different models of local and international franchising [...]
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 [...]
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 [...]
The African Continental Free Trade Agreement (AfCFTA) was introduced in March 2018 to eliminate barriers to trade among the countries that signed the agreement (partner states) and promote free trade and movement of business professionals [...]
On 5th February, 2019, the Federal Competition and Consumer Protection Act, 2019 (the “Act”), was enacted. The Act, among other things, repealed sections 118-128 (excluding section 121(1)(d)) of the Investments and Securities Act, 2007), thereby vesting [...]
Introduction A local company which intends to employ foreigners in Nigeria is required to assume immigration formalities as well as certain responsibilities for such employees. This entails obtaining several approvals and permits required by the Nigeria [...]
