OALP TAX PRACTICE QUARTERLY NEWSLETTER 2nd Quarter 2023
The second quarter of the year 2023 had an interesting start. It commenced with heightened curiosity as to what to expect after the general elections which ushered in a new government. Nigerians...
OVERVIEW OF THE CBN’s GUIDELINES FOR CONTACTLESS PAYMENTS IN NIGERIA 2023
The Central Bank of Nigeria (CBN) has always strived to ensure that the Nigerian electronic payment system keeps up with global advancements in technology. In recognition of the technological advances made in...
CBN (Customer Due Diligence) Regulations 2023: Overview and Potential Implications
On 20 June 2023, the Central Bank of Nigeria (CBN) issued the CBN (Customer Due Diligence) Regulation 2023 (the CDD Regulations). This regulatory initiative is aimed at assisting financial institutions to comply...
Foreign Exchange Rate Convergence in Nigeria
Following an announcement by President Bola Ahmed Tinubu on his administration’s plan to unify the different foreign exchange market rates, the Central Bank of Nigeria (CBN), in its Press Release issued on...
Regulatory Notice: The Securities and Exchange Commission is Accepting Applications for its Regulatory Incubation...
The Securities and Exchange Commission (SEC) has invited applications from the public for the first cohort of its Regulatory Incubation Program (Program). The Program is designed for entities offering a novel type...
Banking and Capital Market 2022 Wrap-Up / 2023 Outlook
The financial services sector (with the banking and capital market segments being the larger slice) of the Nigerian economy, which is a key contributor to the Gross Domestic Product (GDP), witnessed significant...
FINTECH FORWARD LOOK 2023
The sixth edition of our Fintech Forward Look for 2023 outlines key facts and figures that shaped the fintech industry in 2022. It also gives an in-depth analysis of the key developments...
FAQs on the CBN Guidelines on Anti-Money Laundering, Combating the Financing of Terrorism and...
On November 23, 2022, the Central Bank of Nigeria (CBN) issued the Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation of Weapons of Mass Destruction (AML/CFT/CPF) Guidelines for Licensing of...
Newsletter on the CBN Draft Operational Guidelines for Open Banking in Nigeria
In February 2021, the Central Bank of Nigeria (CBN) released the Regulatory Framework for Open Banking in Nigeria (the Open Banking Framework) which establishes principles for data sharing across the banking and...
Newsletter on the New SEC Rules on Issuance, Offering Platforms and Custody of Digital...
In April 2022, the Securities and Exchange Commission (the SEC) released its Proposed Rules on the Registration of Virtual Asset Service Providers and the Proposed Rules on the Issuance, Offering Platforms and...