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Review of the New NSE Free Float Rules
2 January 2020 marked the commencement of the implementation of the Nigerian Stock Exchange (NSE or the Exchange) Rules Governing Free Float Requirements for Issuers Listed on the Nigerian Stock Exchange...
Our New Partner
Olaniwun Ajayi LP is delighted to announce the admission of, a highly valued professional, Jonathan Aluju into its partnership. Commenting on Jonathan’s admission into the partnership of Olaniwun Ajayi LP, Prof....
The FCCPC Releases Guidelines on Simplified Process for Foreign-to-Foreign Mergers with Nigerian Component
In January 2019, the president of the Federal Republic of Nigeria signed the Federal Competition and Consumer Protection Act (the FCCPA) into law, which introduced a new regime and authority for the...
CBN Publishes Regulation for the Operation of Indirect Participants in the Payments System
In exercise of the powers conferred on the Central Bank of Nigeria (CBN) under the CBN Act 2007 to promote a sound financial system in Nigeria, the CBN published Regulations for the...
FIRS Establishes Tax Office for Non-Resident Persons
By a public notice (“the Notice”) issued by the Federal Inland Revenue Service (“the Service” or “FIRS”), a tax office-specific and peculiar to Non-Resident persons as defined under Nigerian law has been...
Deep Offshore and Inland Basin Production Sharing Contract (Amendment) Bill 2019.
Recently, a bill for an Act to amend the Deep Offshore and Inland Basin Production Sharing Contract Act, (the Bill) passed the third reading at the Senate and currently awaits passage at...
Deal Announcement
Olaniwun Ajayi LP is pleased to be acting as adviser to Seplat Petroleum Development Company Plc. (Seplat) on its proposed circa £382 million cash acquisition of the entire issued share capital of...
Expansion of the Statutory Deadline for Filing of Tax Objections
The Tax Appeal Tribunal ("TAT") on 17.09.19, sitting in Lagos, in the matter of Earth Moving International v. Federal Inland Revenue Service1, delivered judgement to the effect that; (x) a Notice of...
A New Tax Burden on Nigerian Companies
The President of the Federal Republic of Nigeria recently passed into law the Nigerian Police Trust Fund Establishment Act 2019. (NPTFEA or the Act). The NPTFEA creates a Special Intervention Fund for the Nigerian...
The MYTO Minor Review Order 2019 – The Awaited Relief or a Nostrum?
One of the principal objectives of the Nigerian Electricity Regulatory Commission (NERC), as stipulated in the Electric Power Sector Reform Act 2005 (EPSRA), is to ensure that the prices charged by licensees...