BANKING AND FINANCE
Value Added Tax Legislative Framework and the Authority to Amend the Chargeable Rate (1)
In a bid to shore up its revenue base to finance the 2020 budget, the executive arm of the Federal Government of Nigeria has expressed its intention to increase the chargeable [...]
INTRODUCTION OF BANK CHARGES ON CASH DEPOSITS AND WITHDRAWALS – A PUNITIVE MEASURE
The Central Bank of Nigeria (“CBN”) recently reintroduced bank charges on select cash deposits and withdrawals in the country. The objective of this policy, according to the CBN, is to discourage [...]
AN APPRAISAL OF THE EXTANT LEGAL FRAMEWORK FOR MERGERS ACQUISITIONS
The passage of the Federal Competition and Consumer Protection Act 2018 resulted in the introduction of a new regulatory framework for mergers & acquisitions in Nigeria. With the establishment of the [...]
The Nigerian Stock Exchange Amends Rules on Online Trading
The Nigerian Stock Exchange (the “NSE”) recently amended its rules on online trading through a press release. The objective of the amendment, according to the NSE, is to assist with the regulation [...]
Central bank of Nigeria Unveils Guidelines on Disclosure and Transparency for Banks and Other Financial Institutions
The Central Bank of Nigeria (the “CBN”), recently issued a new set of guidelines on Disclosure and Transparency (“the Guidelines”) for institutions under its regulation. The objective of the Guidelines is [...]
Central Bank of Nigeria Limits Daily Standing Deposit Facility to N2 Billion
The Central Bank of Nigeria (CBN) recently released a circular titled, “Guidelines on Accessing the CBN Standing Deposit Facility.” The Circular limits the interest-bearing amount of banks’ and discount houses’ liquid [...]
FACEBOOK TO LAUNCH IT’S DIGITAL CURRENCY, LIBRA – IMPLICATIONS FOR AFRICA
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, [...]
THE EVOLUTION OF CYBER SECURITY IN THE NIGERIAN BANKING SECTOR
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 [...]
REVIEW OF THE CENTRAL BANK’S REGULATIONS ON END-TO-END ELECTRONIC PAYMENTS
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 [...]
DEPOSITARY RECEIPTS: A TOOL FOR INVESTMENT IN SUB-SAHARAN AFRICA
The perception about African economies appears to be changing as investors are increasingly taking an interest in participating in Africa's capital markets through the use of Depositary Receipts (DRs). An analysis of [...]
REPRESENTATIONS, COVENANTS AND EVENTS OF DEFAULT – UNDERSTANDING THE BASICS OF LOAN AGREEMENTS
Representations, covenants and events of defaults (the “Core Clauses”) are the foundations of loan agreements, and a number of these clauses are often found in a loan agreement. Unfortunately, their importance could [...]
ISLAMIC FINANCE IN NIGERIA: AN OVERVIEW OF THE RULES GOVERNING THE LISTING OF SUKUK ON THE NIGERIAN STOCK EXCHANGE
Islamic financing has gained ground in Nigeria in recent times. Further to this, Islamic finance institutions are being set up and the government at both state and federal levels have issued sukuk [...]
ǼLEX sponsors NBA’s 12th Annual Business Law Conference
ǼLEX is proud to be one of the sponsors of the 12th Annual Business Law Conference of the Nigerian Bar Association Section on Business Law (NBA SBL) scheduled to hold at the Transcorp [...]
ENHANCED PROTECTION FOR INVESTORS PARTICIPATING IN PRIVATE PLACEMENTS? – THE DECISION IN STANBIC IBTC BANK PLC v. LONGTERM GLOBAL CAPITAL LIMITED & ORS.
Private placement refers to the issuing of securities by a company to a small number of select persons. In Nigeria, where the company issuing the securities (the "issuing company") is a public [...]
ENABLING ACCESS TO CREDIT IN NIGERIA
ENABLING ACCESS TO CREDIT IN NIGERIA The secured transactions in movable asserts ACT 2017 Read More
AUDIT FAILURE IN THE AILING BANKS:
AUDIT FAILURE IN THE AILING BANKS: The ‘Sins’ of the Auditors may not be used in evidence against them: This article appeared in the October, 2009 Business Day Newspaper Read More
IFRS, disclosure and foreign direct investment:
IFRS, disclosure and foreign direct investment: This article appeared in the August, 2009 Business Day Newspaper Read More
Reproduced with permission from Law Business Research.
Reproduced with permission from Law Business Research. These article(s) were first published in Getting the Deal Through: Project Finance Read More For further information please visit www.GettingTheDealThrough.com