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Executive Order 008: Voluntary Assets Regularization Scheme (VOARS)

The Federal Government of Nigeria (“FGN”),on Monday 8th October 2018, signed a new Executive Order (008) (the Order) tagged Voluntary Offshore Assets Regularization Scheme (VOARS or the Scheme). The Order, which is for a period of twelve (12)...

FGN INVITES EXPRESSIONS OF INTEREST FOR CORE INVESTORS IN RESPECT OF AFAM AND YOLA...

In continuation of the wholesale privatization of the key power infrastructure assets which began in 2006 with the horizontal unbundling of the Power Holding Company of Nigeria Plc (PHCN), and the subsequent handover of...
TAXATION

Impact Of Multiple Taxation On Businesses In Nigeria

There are over fifty taxes and levies collected by the federal, state and local governments in Nigeria. In addition to the plethora of taxes and levies in Nigeria, it is more worrisome where different...

NIGERIAN SUPREME COURT RULES THAT A CLAIM ARISING FROM AN AGREEMENT FOR THE USE...

The Nigerian Supreme Court in its recent decision in TSKJ Nigeria Ltd v Otochem Nigeria Ltd (Unreported), SC 118/2009, has held that a State High Court has the jurisdiction to adjudicate over a matter...
Company and Allied Matters Act

COMPANIES AND ALLIED MATTERS ACT (REPEAL AND RE-ENACTMENT) BILL 2018

On 15 May 2018, the 8th Senate considered and passed the Companies and Allied Matters Act (Repeal and Re-enactment) Bill, 2018 (the Bill) after its third reading. The Bill was the result of a...
Emerging trends in the oil and gas industry

Emerging Trends in the Nigerian Oil and Gas Sector – Talking Points

On the 24th of April 2018, Olaniwun Ajayi LP in conjunction with Hogan Lovells, hosted an executive round table to discuss emerging trends in the oil and gas industry, with select stakeholders of  the...

Power and Infrastructure Wrap-Up report 2017

Our Power & Infrastructure team published a report detailing the key developments in the Nigerian power and infrastructure space over the course of 2017. In the report, we also share our outlook for 2018,...

Lagos State Passes New Land Use Charge Law

On Monday 29 January, 2018, the Lagos State House of Assembly (LSHA) passed into law the Land Use Charge Bill 2017. The objective of the law is to provide for the consolidation of Property...

Analysing the ‘No-Reflective Loss’ Principle in the Context of an SSPA

Sometimes share subscription and purchase agreements will contain a clause to the effect that if the contracting company breaches certain representations and warranties, causing the acquirer of the shares to suffer loss, the acquirer...

African Union Assembly Endorses Model Law Drafted by OALP

At the recently concluded - 2018 African Union Summit, held in Addis Abba, Ethiopia, the Model Law for Development of Transboundary Infrastructure Projects in Africa, drafted by Olaniwun Ajayi LP was endorsed by African...