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...

Constitutional Amendment Relating to the Railway Transport Sector: A Panacea for Resuscitating the Railway...

As one of the astounding farewell accomplishments of the erstwhile President of the Federal Republic of Nigeria, His Excellency Muhammadu Buhari (the Erstwhile President), the Erstwhile President signed 16 (sixteen) constitution alteration...

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...

TECH Digest for May

Olaniwun Ajayi’s Technology Innovation and Fintech Team presents its Technology News Highlights (Highlights) for the month of May. The Highlights contain a summary of major local and international developments in the Technology...

REVIEW OF NERCS ORDER ON MIGRATION OF CUSTOMERS AND COMPENSATION FOR SERVICE FAILURE UNDER...

The Nigerian Electricity Regulatory Commission (NERC) introduced the service-based tariff (SBT) regime in the Multi-Year Tariff Order 2020 (MYTO 2020), a form of incentive-based regulation, permitting distribution companies (DisCos) to receive higher...

Nigeria’s New Arbitration and Mediation Act 2023 – A Competitive Edge To Arbitration In...

The Arbitration and Mediation Act, 2023 (the AMA) – came into force in Nigeria on 26 May 2023, replacing the Arbitration and Conciliation Act (the ACA) that had stood unaltered for over...

Olaniwun Ajayi London and Nigeria Advises BUA Cement Plc (BUA) on the US$1 billion...

The Joint English and Nigeria team of Olaniwun Ajayi has advised BUA on the US$1 billion expansion of its Kalambaina Plant in Sokoto State. The US$500 million momentous expansion debt financing was...

The Nigerian Electricity Regulatory Commission issues Consumer Protection Regulations 2023

On March 29, 2023, the Nigerian Electricity Regulatory Commission (NERC) issued the Consumer Protection Regulations 2023 (the Consumer Protection Regulations) to safeguard consumers from the activities of electricity distribution companies (DisCos) in...

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...

Tech Digest for April

Olaniwun Ajayi's Technology Innovation and Fintech Team presents its Tech News Highlights (Highlights) for the month of April. The Highlights contain a summary of major local and international developments in the Technology...