Category: Publications

Aggressive Regulatory Enforcement against Unregistered Money Lenders In our earlier Koriat’s Update on Fintech Lending Law in Nigeria (January 2022), we provided update that the Federal Competition and Consumer Protection Commission (“FCCPC”) had announced that a Joint Committee (comprising federal regulators and law enforcement agencies) was set …

1. Introduction One key thing gaming investors must note is that Nigeria is a Federation with 36 Federating Units (“States”) and one (1) Federal Capital Territory, Abuja (“FCT”) with clearly delineated powers of both levels of government under the Constitution of 1999 (as amended). The …

Introduction From our understanding as company secretary of various companies in Nigeria, the meetings, proceedings and decision-making process of directors are largely in accordance with the provisions of their company’s articles of association. This means that business men in Nigeria have a chance to decide …

1. Who is a director under Nigerian law? Under Nigerian law, there are three (3) types of directors: the executive directors, the non-executive directors and the shadow directors.  Executive directors are those directors who are involved in the day-to-day management of the company’s business usually …

Who is a venture capital manager? Venture capital is a private equity and finance services firm that helps startup companies and small businesses to realize their long-term growth potentials through funding, planning, marketing and other necessary support in exchange for equity stake in the business.  The …

1. Strong Regulatory Supervision Builds up in the Fintech Lending Industry In November 2021, the Federal Competition and Consumer Protection Commission (“FCCPC”) announced that a Joint Committee was set up by the Federal Government to tackle violation of consumer rights and unfair practices in the money …

Introduction A Micro Finance Bank (“MFB”) is a subsector company in the financial industry licensed by the Central Bank of Nigeria (“CBN”) to carry on the business of providing financial services such as savings and deposits, loans, domestic funds transfer and non-financial services to individuals …

1. Introduction Confirmation of a probationary contract is a rather vexed topic amongst human resource practitioners (and some employment lawyers) in Nigeria. There is some degree of confusion around the power of employer to confirm, delay or refuse confirmation of probationary contract at will as …

Registration of companies in Nigeria is easy and seamless for those who are familiar with the Nigerian law, the company classifications and necessary requirements for the digital incorporation procedure of the Corporate Affairs Commission (CAC) using the https://pre.cac.gov.ng/. There are about 11 pages of the …

Introduction Divorce is a legal means of bringing a statutory marriage to an end through the court system. Whenever an aggrieved spouse is contemplating a separation, it is better to speak to a family lawyer for proper guidance on the best way to go.  It …