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What You Need to Know about Startups in Nigeria The Nigeria Startup Act, 2022 (“the Act”) is the principal legal and institutional framework for the development, operations and regulation of startups in Nigeria.  According to the Act, a startup is a company in existence for …

The responsible agency for company incorporation in Nigeria, the Corporate Affairs Commission (“CAC”), continues to innovate and undertake investment in technological infrastructure to enhance speedy company registration and national development.  Since 2020, incorporation of a company in Nigeria can be completed in 24 hours using …

It is mandatory, under the Companies and Allied Matters Act 2020 (“CAMA”), for every registered business name, private or public company (either limited by shares or guarantee or unlimited), incorporated trustees or partnership to file annual returns with the Corporate Affairs Commission (“CAC”). Prompt and …

The Central Bank of Kenya (“CBK”) was recently vested with the powers to license and regulate digital lenders in Kenya under a new law, The Central Bank of Kenya (Digital Credit Providers) Regulations 2022 (“Regulation 2022”) effective from 18th March 2022. Before 2022, digital lending …

What is a Payment Service Bank? Payment Service Banks in Nigeria are channels by which telecommunication and technology solutions companies are licensed by the Central Bank of Nigeria to participate in the fintech payment ecosystem with primary focus on the rural areas and unbanked locations, …

What is a Payments Service Holding Company in Nigeria? A Payments Service Holding Company is a type of corporate structure that is required by Nigerian law for a group company that is desirous of holding more than one payment system licence within the Nigeria payments …

The Federal Competition and Consumer Protection Commission (“FCCPC”) has in the exercise of its powers under its enabling law, ventured into the regulation of digital lending business in Nigeria. Recently, in exercise of the powers conferred upon it by sections 17, 18 and 163 of …

1.0. Why Regulatory Sandbox and Which Fintech Company Should Participate in Regulatory Sandbox? In view of the growing demand for easier and cheaper payment solutions through disruptive technology in the financial services space, the Central Bank of Nigeria (CBN) has deemed it pertinent to ensure …

1          Can a business be registered as a Limited Liability Partnership in Nigeria? Yes. The introduction of Limited Partnership (“LP”) and Limited Liability Partnership (“LLP”) is one of the fundamental watersheds that the Companies and Allied Matters Act 2020 (“CAMA”) has afforded the investors community …

INTRODUCTION The Kenyan gambling market was estimated to be worth $40 million in 2020 and ranked as the third in Sub-Saharan Africa when it comes to sheer market size, (after South Africa and Nigeria), but has the highest number of young gambling players in the …