Introduction In a significant policy shift that is set to reshape Nigeria’s financial services landscape, financial institutions and payment ecosystem participants have been directed by the Central Bank of Nigeria (“CBN”) to ensure that all payment transaction data generated within Nigeria are stored and managed …

Nigeria’s expanding population and growing awareness of financial and asset protection have created significant opportunities in the insurance sector. The insurance industry plays a vital role in Nigeria’s economy by providing financial protection against unforeseen risks and promoting confidence in commercial and personal transactions. Launching …

Introduction When parents plan their estate (whether in respect of moveable or immoveable assets), the age of their children is one of the fundamental considerations that requires proper legal guidance. Naturally, it should be a simple matter to buy assets in the name of one’s …

Under the Companies and Allied Act (“CAMA”) 2020, private companies in Nigeria may operate with a single shareholder. Section 18(2) of CAMA introduced the concept of single-member private companies, thereby removing the previous requirement that a private company must have at least two shareholders. This …

Filing annual returns is a mandatory requirement of the Corporate Affairs Commission (“CAC”) as it remains the only means by which the CAC remains informed about the status of the operational activity of a company in Nigeria. The CAC has made compliance with filing requirements …

Urban transportation in Nigeria has become technology-driven. Since e-hailing platforms such as Uber, Boltetc, emerged, the transportation sector in Nigeria has experienced an increase in local entrants. In a notable development, our client, FlexxyDrive Software Technologies International Limited (“FlexxyDrive”), has obtained regulatory approval to operate an e-hailing …

The importance of corporate governance cannot be overemphasized. Corporate governance plays the role of preserving corporate assets, promoting accountability and ensuring that those entrusted with management powers do not exploit their position for personal benefit. Directors control the company’s affairs. They influence financial decisions and …

Nigeria’s payment sector has witnessed significant growth over the past decade. Driven by financial inclusion, the sector has experienced rapid technological innovations. As payments solutions expands, payment solutions companies must navigate a complex regulatory landscape and also maintain efficiency, security and consumer protection. The Central …

Licence renewal for Payment Service Providers (PSPs) and other Fintech companies is more than a routine regulatory requirement. It is a critical test of compliance, governance, and operational resilience. The Central Bank of Nigeria (CBN) uses the renewal process to assess the credibility and stability …

As part of African countries’ efforts to open the region to economic opportunities, Ghana has taken a bold step to formalise the regulatory framework for operating online lending business. The Bank of Ghana (BoG) last year introduced the Directive for Digital Credit Services Providers 2025, …