Worldwide: Contracts and Commercial Law

When borrowers default on loans in Nigeria's volatile credit market, lenders face a complex web of contractual rights, statutory provisions, and judicial precedents that govern security enforcement.

Joint ventures have become essential structuring tools in Nigeria's commercial landscape, yet they remain among the most litigated arrangements due to inadequate legal frameworks.

Commercial contracts form the foundation of business relationships, yet their effectiveness depends entirely on how well they are drafted. Understanding which clauses to include and how to structure them can mean the difference between a smooth transaction and costly litigation. What are the essential provisions every business must incorporate to protect its interests and prevent disputes?

On March 12, 2026, the Central Bank of Nigeria issued a directive barring commercial banks from providing new loans and specific banking services to “large-ticket obligors” who have defaulted on their existing loan obligations.

Letters of credit remain one of the most successful instruments for managing payment risk in international trade, offering dual security to both buyers and sellers through bank-mediated documentary compliance.

On 25th March, 2026, the Central Bank of Nigeria ("CBN") issued a circular titled "Removal of Cash Pooling Requirement for International Oil Companies (IOCs)" (the "2026 Circular")...

Most people skim through "terms and conditions" like they are watching a movie trailer, and often miss the plot twist. However, those tiny paragraphs you think do not matter can lead to significant risks, revenue loss...

President Bola Ahmed Tinubu has signed a significant Executive Order aimed at overhauling Nigeria's oil and gas revenue framework.

Nigeria's 2025 Petroleum Licensing Round (the "Licensing Round") is a competitive, performance-driven allocation process that will determine the next wave of Petroleum Prospecting Licence ("PPL") holders...