Author: admin

WHAT IS PENSION? According to the Nigerian Pension Reform Act, pension is a minimum percentage of an employee’s salary required by law to be paid into a contributory pension scheme by both employer and employee for the benefit of the employee during the employment relationship. …

The Federal Competition and Consumer Protection Commission (FCCPC) has approved the operations of three (3) of our clients and 91 other companies as digital money lenders in Nigeria. Recently, the FCCPC came up with the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending for the …

According to the records of the Nigeria Inter-Bank Settlement System Plc (“NIBSS”) as of July 2021, there are 986,252 registered PoS terminals in Nigeria. But the total number of deployed PoS terminals as of January 2023 was 955,234. Although unconfirmed report shows that there are over …

Information technology has greatly improved not only the means of disseminating information but has also galvanized innovations in the ways products and services are delivered in the financial service industry. For instance, a new crop of business has emerged in the insurance sector acting as …

The meetings of every company in Nigeria are a matter of law, the Company and Allied Matters Act 2020 (“CAMA”). All directors and shareholders of a company need to be abreast of their obligations in terms of the mandatory meetings that a company must hold …

The Central Bank of Nigeria (“CBN”) has issued our Client, LibertyPay Limited, a fintech company in Nigeria, a Payment Solutions Service Licence to operate agency banking business in the country. Super-Agents are Fintech companies with the lowest capital requirement threshold (being N50 Million) in the …

There is major development on the Corporate Affair Commission (“CAC”) online portal which sets a new tune in the registration of companies in Nigeria. The CAC portal is now linked with the National Identity Management Commission (“NIMC”) portal to enforce the use of the National …

With the ever-increasing commercial activities between Nigeria and other nations, leading to the ingress and egress of persons, goods and services from the country, there is a need for more intentional investment in the maritime sector by the government and private sectors alike. Undoubtedly, an …

Employees play a key role in the growth of any business. In recognition of an employee’s meritorious service to a company, certain benefits may accrue subject to such benefits being provided for under the employees’ condition for service. Gratuity is one of such payments. Payment …

Length of notice for termination of employment contract is usually determined by the parties to an employment contract. According to the Supreme Court in the case of Idufueko v. Pfizer Products Limited (2014) 12 NWLR (Pt. 1420) page 96 at 119, where an employment contract …