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 [...]
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 [...]
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 [...]
The federal tax authority – the Federal Inland Revenue Service (‘FIRS’), recently introduced new measures to improve the experience of taxpayers during tax audits. The strategy includes the reduction of the tax audit cycle to [...]
In our article in the link below, we highlight LIRS’ intention to generate new Tax Identification Numbers (TIN) for taxable persons resident in Lagos by leveraging on their Bank Verification Numbers (BVN). Read more [...]
Facebook launched its cryptocurrency called Libra on 18th June 2019. Libra is an evolution of the current cryptocurrencies and it is expected to change the narrative in financial transactions. With Libra, financial transactions will be [...]
Big Data describes the massive collection of structured, unstructured and multi-structured data that flow through our digital universe every day — data streamed from phones and credit cards, internet activities and embedded systems, televisions and computers; [...]
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 [...]
It has been a few months since the issuance of the Nigerian Data Protection Regulation (‘NDPR’). The NDPR applies to the processing of the personal information of Nigerians and non-Nigerian residents, and the risks [...]
The National Information Technology and Development Agency (‘NITDA’) has published a notice stating that the full implementation of the Data Protection Regulation (‘Regulation’) commenced on 25th April 2019. On January 25 2019, NITDA issued the [...]
Currently, the Nigerian corporate insolvency regime is restricted, generally, to receivership, liquidation and arrangement and compromise mechanisms as provided under the Companies and Allied Matters [...]
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 [...]
Florence Bola-Balogun Nigeria moved from a country with zero legislation on cyber security to a country with an extensive law with the enactment of the Cybercrime (Prohibition, Prevention, Etc.) Act (“the Act”) in 2015. The [...]
By a letter to the Senate President dated 28th March 2019, the President of the Federal Republic of Nigeria declined to assent to the National Housing Fund (Establishment) Bill 2018 (“the Bill”) which was earlier passed [...]
Recently, the Central Bank of Nigeria issued the Regulations on End-to-End Electronic Payment of Salaries, Pensions and Other Remittances, Suppliers and revenue collections in Nigeria (the Regulation). The Regulation seeks to promote safe and effective [...]
