FEDERAL COMPETITION AND CONSUMER PROTECTION COMMISSION NOTICE OF THRESHOLD FOR MERGER NOTIFICATION
The Federal Competition and Consumer Protection Commission issued a ‘Notice of Threshold for Merger Notification’ (the Notice) detailing the annual turnover threshold for determining what constitutes a small and large [...]
The new Visa on Arrival Application Process for Business Travelers and Nationals of African Union Countries
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 [...]
ǼLEX ASSOCIATE APPOINTED TO THE INTERNATIONAL BAR ASSOCIATION’S SECURITIES LAW COMMITTEE
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 [...]
MIGRANT e-REGISTRATION
The Nigerian Immigration Service (NIS) recently issued the Migrant e-Registration Guidelines (the Guidelines) pursuant to its powers under the provisions of the Immigration Act 2015 and the Immigration Regulation 2017. [...]
THE LEGALITY OF THE NIGERIAN LAND BORDERS CLOSURE IN LIGHT OF THE ECOWAS REVISED TREATY, THE WTO’S GATT AND THE AFCFTA AGREEMENT
The Nigerian government’s decision to close its land borders on 20 August 2019 has raised many questions regarding the legality of the government’s action particularly in light of the recently [...]
FCCPC Guidelines on Foreign-to-Foreign Mergers
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 [...]
Aelex Associates contributes to Franchising in the International Comparative Legal Guide (ICLG) 2020
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 [...]
THE DEFERMENT OF THE NEW FREE FLOAT RULES BY THE NIGERIAN STOCK EXCHANGE: WHAT NIGERIAN INVESTORS SHOULD KNOW
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 [...]
THE NIGERIA POWER SECTOR REVIEW 2019
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 [...]
LEGAL PRIVILEGE OF IN-HOUSE COUNSEL – THE POSITION UNDER NIGERIAN LAW
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 [...]
LIRS TO ISSUE NEW TAX IDENTIFICATION NUMBER
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 [...]
SPOTLIGHT ON THE AFRICAN CONTINENTAL FREE TRADE AGREEMENT
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 [...]
A QUICK GUIDE TO COMPLIANCE WITH THE NIGERIA DATA PROTECTION REGULATION
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 [...]
NITDA RELEASES NOTICE OF COMMENCEMENT OF THE NIGERIA DATA PROTECTION REGULATION
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 [...]
NOTE ON THE FEDERAL COMPETITION AND CONSUMER PROTECTION ACT 2019:
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 [...]
STEPS EXPATRIATES MUST UNDERTAKE IN ORDER TO WORK IN NIGERIA
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 [...]
THE BILL FOR AMENDMENT OF THE COMPANIES AND ALLIED MATTERS ACT 1990: A PANORAMIC VIEW OF THE AMENDED PROVISIONS
INTRODUCTION The Companies and Allied Matters Act Chapter C20 Laws of the Federation of Nigeria 2004 (CAMA) was enacted in 1990. Although it was an improvement of the repealed Companies [...]
THE NITDA DATA PROTECTION REGULATION: A WATERSHED IN THE PROTECTION OF PERSONAL DATA IN NIGERIA
INTRODUCTION Through the years, Nigeria has lacked comprehensive legislation which protects against the misuse and mismanagement of personal data. However, on 28th January 2019, the National Information Technology Development Agency’s (NITDA) [...]
THE PRESIDENT SIGNS THE FEDERAL COMPETITION AND CONSUMER PROTECTION BILL INTO LAW
On 6th February 2019, President Muhammadu Buhari signed the Federal Competition and Consumer Protection Bill into law. The new Act establishes the Federal Competition and Consumer Protection Commission (‘the Commission”) [...]
THE CODE OF CORPORATE GOVERNANCE 2018 – A NEW DAWN FOR CORPORATE GOVERNANCE IN NIGERIA?
The Nigerian Code of Corporate Governance (the “Code”) was issued in 2018 by the Financial Reporting Council of Nigeria (the “FRCN”) pursuant to Sections 11(c) and 41(c) of the Financial [...]