Africa: Finance and Banking

In 2024, the Nigerian banking and finance sector experienced significant regulatory changes driven by the Central Bank of Nigeria ("CBN").

The Kimberley High Court recently confirmed that an account holder who uses funds in a bank account that do not belong to them will be liable for the loss suffered.

Following the progressive advancement in technology wherein funds are now transferred digitally without the need to visit a formal banking hall setting, incidents of erroneous transfer of funds are prevalent and inevitable.

The Nigerian capital market has undergone a significant regulatory transformation with the recent enactment of the Investment and Securities Act 2025 signed into law on March 31, 2025...

A recent judgment from the Supreme Court of Appeal has provided important clarification on the application of prescription in the context of misappropriation of funds within a close corporation.

The Investment and Securities Act (ISA) of 2025 was signed into law on March 31st, 2025, by President Bola Ahmed Tinubu, repealing and replacing the Investment and Securities Act (ISA) of 2007...

Startups often find themselves navigating the complex world of fundraising, and one term that's becoming increasingly common is the "Pre-Series." But what does it really mean, and when should you use it?

More investors are now leveraging Nigeria's free trade zones as a strategic gateway into the market, capitalizing on the significant increase in businesses and robust growth...

Consortium Agreements remain one of the crucial ways to win and execute public private partnerships and high-stakes public and private contracts.

The Companies Act 71 of 2008 (the Companies Act) has brought about a unique change in business methods.

ENS acted on behalf of Investec Bank Limited in an application for summary judgment against a defendant where the defendant had stood surety for the debts of certain companies.

With the introduction of business rescue by the new Companies Act (which came into effect on 1 May this year), a company director is obligated to either pass a resolution for business rescue or for liquidation, as soon as he or she becomes aware that the company is trading in a financially distressed situation or notify all stakeholders of the basis for not doing so.