Nigeria: Compliance

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Article
Seating Arbitrations In Nigeria: A Strategic Evaluation Under The Arbitration And Mediation Act
Nigeria's Arbitration and Mediation Act 2023 fundamentally transforms West Africa's dispute resolution framework by introducing mandatory judicial stays, emergency arbitrator provisions, and third-party funding mechanisms. How do these reforms position Nigeria as a competitive arbitral seat for international commercial transactions, and what strategic considerations should global counsel evaluate when drafting dispute resolution clauses for Nigerian-connected contracts?
Nigeria Litigation
Adeola Oyinlade & Co
Article
CBN Regulatory Sandbox Cohort 2.0: A New Pathway For Virtual Asset And Stablecoin Innovation In Nigeria
The Central Bank of Nigeria has launched Cohort 2.0 of its Regulatory Sandbox Programme, introducing two specialized tracks for testing innovative financial solutions. The VASP Track focuses on virtual assets and stablecoins, while the Non-VASP Track covers data-enabled financial services including Open Banking and payment initiation. Applications are open from August 12-31, 2026, offering eligible innovators a controlled environment to test their products under CBN supervision.
Nigeria Finance
UU
Udo Udoma & Belo-Osagie
Article
Tax Reforms: Understanding The Guidelines On The Taxation Of Virtual Assets
Nigeria's Revenue Service has issued comprehensive guidelines establishing a uniform framework for taxing virtual assets and cryptocurrency transactions. The new rules adopt a substance-over-form approach, focusing on the economic nature of digital asset transactions rather than their technical labels. These guidelines clarify tax treatment, compliance obligations, and administrative procedures for all persons engaged in virtual asset activities under Nigerian law.
Nigeria Tax
WT
WTS Blackwoodstone
Article
When A Banking Partner Loses Its Licence: What The CBN’S Revocation Of 46 MFB Licences Means For Fintech Resilience And Customer Funds
When the Central Bank of Nigeria revoked the operating licences of 46 microfinance banks in July 2026, fintech companies relying on these institutions for customer accounts and settlement infrastructure faced immediate operational disruption. This analysis examines the regulatory grounds for revocation, the deposit insurance framework administered by the NDIC, and the critical due diligence and resilience measures fintech companies must implement when their products depend on regulated banking partners.
Nigeria Finance
TA
Tope Adebayo LP
Article
Legislative Spotlight: NOSDRA (Establishment) Act (Amendment) Bill, 2025
The National Oil Spill Detection and Response Agency (Establishment) Act (Amendment) Bill, 2025 proposes significant changes to Nigeria's regulatory framework for oil spill management and environmental compliance. What new enforcement powers will NOSDRA gain, and how will financial and criminal consequences for non-compliance by operators and facility owners be strengthened?
Nigeria Environment
SK
Streamsowers & Kohn
Article
Environmental Justice In Nigeria: Seven Common Myths Every Business And Community Should Know
Environmental justice in Nigeria extends far beyond oil spills and conservation, touching every sector from mining to waste management. Yet persistent myths continue to shape how businesses assess risk, how regulators enforce compliance, and how communities understand their legal rights. What are the seven most dangerous misconceptions about environmental justice that could be costing your organization in regulatory exposure, investor confidence, and stakeholder trust?
Nigeria Environment
OA
Olisa Agbakoba Legal (OAL)
Article
The Limits Of Regulatory Oversight: How Far Can The CAC Go Under Sections 839 And 851 Of CAMA 2020?
A Federal High Court judgment has nullified the Corporate Affairs Commission's deregistration of the National Youth Council of Nigeria, raising critical questions about the constitutional limits of administrative power under CAMA 2020. The decision exposes fundamental structural weaknesses in Sections 839 and 851, which grant the CAC sweeping powers to suspend trustees and adjudicate disputes through an internal committee. This analysis examines whether these provisions, as currently drafted, strike an appr
Nigeria Commercial
TA
Tunde & Adisa
Article
Federal Government Issues Compliance Circular On Data Protection And Responsible Data Governance For MDAS
The Federal Government of Nigeria has issued a new compliance circular addressing data protection and responsible data governance requirements for Ministries, Departments, and Agencies (MDAs). This directive establishes mandatory standards for how government entities must handle, protect, and govern data under their control. The circular represents a significant step in strengthening Nigeria's data protection framework across the public sector.
Nigeria Government
AP
Advocaat Law Practice
Article
Nigeria Revenue Service Commences Compliance Monitoring For Large Taxpayers Under The National E-invoicing & Electronic Fiscal System (‘EFS’)
Nigeria's Revenue Service has initiated compliance monitoring for large taxpayers as part of the National E-invoicing and Electronic Fiscal System implementation. This development marks a significant step in the country's tax administration modernization efforts, requiring affected businesses to ensure their systems and processes align with the new electronic invoicing requirements.
Nigeria Tax
AP
Advocaat Law Practice
Article
Open Banking And Digital Lending In Nigeria: Opportunities, Risks And Regulatory Readiness
Nigeria's open banking framework promises to transform digital lending through secure, consent-driven financial data sharing. As the phased rollout approaches mid-2026, lenders face both opportunity and obligation: faster credit decisions, better risk assessment, and new product possibilities, alongside stricter compliance requirements and infrastructure dependencies that will reshape competitive dynamics across the sector.
Nigeria Finance
TA
Tope Adebayo LP
Article
Confession, Counselling And Confidentiality: Managing Legal Risk For Religious Leaders
Religious leaders routinely receive sensitive personal disclosures during spiritual counselling, creating expectations of confidentiality rooted in faith traditions and pastoral trust. Yet the legal landscape presents a complex web of competing obligations, from safeguarding laws and mandatory reporting requirements to data protection regulations and criminal investigations. This analysis examines how clergy must balance their religious duty of confidentiality against evolving legal obligations that may com
Nigeria Privacy
Syntegral Legal Practice
Article
Professional Ship Management: The Missing Link In Nigeria’s Maritime Growth
Nigeria's maritime industry pursues ambitious reforms and blue economy development, yet overlooks a fundamental challenge that determines whether vessel acquisitions become successful businesses or costly failures. While stakeholders focus on financing and fleet expansion, the critical question of how ships remain commercially viable years after purchase demands urgent attention from investors, lenders, and policymakers alike.
Nigeria Transport
OA
Olisa Agbakoba Legal (OAL)
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