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Payment System

Newsletter on the Categorisation for the Nigerian Payments System

In furtherance of the objective and commitment to promote a strong and credible payment system in Nigeria, the Central Bank of Nigeria (CBN) on 9 December 2020 published the Circular on New...
BOFIA-GB

The Banks and other Financial Institutions Act 2020 – Spotlight on Notable Provisions

On 13 November 2020, the President of the Federal Republic of Nigeria assented to the Bill to repeal the almost three-decade old Banks and Other Financial Institutions...
BOFIA 2020

The Banks and Other Financial Institutions Act 2020 and Impact on Fintech Companies in...

On 13 November 2020, the President of the Federal Republic of Nigeria signed the Banks and Other Financial Institution Act (2020) (BOFIA or the Act) into law. The Act repealed the extant BOFIA 1991 (as amended) and...
Fame Factor

Fame Factor: Is There a Special Trademark Regime for Superstars?

The right of Lionel Messi (“the Footballer”) to register his name as a trademark was recently upheld in a decision delivered by the Court of Justice of the European Union (“the Court”)...
Netting Provisions

An Appraisal of Netting Provisions Under the Companies and Allied Matters ACT 2020

The new Companies and Allied Maters Act, 2020 (the Act or CAMA 2020), made significant amendments and introductions to the Nigerian companies’ laws, one of which is the provision for statutory enforcement of netting...
CBN Guidelines

Overview of the Updated CBN Guidelines for Payment Service Banks

The CBN, in a bid to promote financial inclusion and enhance access to financial services for low income earners and unbanked segments in society, proposed the establishment and licensing of Payment Service...
NAICOM and PenCom

NAICOM and PenCom Guidelines on Retiree Life Annuity and Employee Group Life Insurance Policy

On the 1st of September 2020, the National Pension Commission (PenCom), in partnership with the National Insurance Commission (NAICOM) (jointly, the Regulators), issued the following guidelines and regulations applicable to the pension and...
SEC Statements on Digital Assets

Securities and Exchange Commission’s Statement on Digital Assets

Previously, digital assets such as cryptocurrencies and tokens were unregulated in Nigeria, with regulators taking a cautious approach, and urging the public to tread carefully when investing in such assets.
NERC - MYTO 2020

NERC’s Multi Year Tariff Order (MYTO) 2020

On 28 August 2020, the Nigerian Electricity Regulatory Commission (NERC) issued the “Multi Year Tariff Order (MYTO) 2020” (MYTO 2020 or the Order), which marks the commencement of a novel “service reflective”...
IFLR Nigerian Law Firm of the Year Award

OALP – IFLR 2020 Nigerian Law Firm of the Year

Olaniwun Ajayi is pleased to have been recognised at the prestigious IFLR Sub-Saharan Africa Awards 2020, as “The Nigerian Law Firm of the Year”. In...