Tag: Business licence

The Banking and Financial Services Act (BFSA), 1994, gives the Bank of Zambia the authority to license, regulate and supervise banks and other financial institutions registered under the referred Act. There are mainly two categories of non-bank financial institutions: Deposit Financial Institution: These institutions are …

The Central Bank of Nigeria (“CBN”) has released new directives that will fundamentally reshape how Point of Sale (“PoS”) agents and payment providers operate across the country. The regulator is moving to tighten oversight by mandating the geo-tagging of all POS terminals, restricting their use …

Nigeria’s economy relies heavily on imports and has significant growth potential, necessitating a renewed emphasis on infrastructural development. Due to the extensive nature of the maritime sector, both local and foreign operators need to coordinate their efforts and resources to engage with the government in …

If you are wondering whether a foreigner can register a company in Nigeria, the answer is yes. In accordance with the provision of section 18(1) of the Companies and Allied Matters Act, 2020 (“CAMA”), any two or more persons may form and incorporate a company …

1. What does the “Corporate Veil” mean? The question of who to sue when a business entity commits a wrong is one of the threshold questions that a Nigerian lawyer to an aggrieved person must answer before filing a claim in a Nigerian court. The …

All digital loan companies’ licences in Lagos State must renew their licence as same is deemed to have expired by 31st of December 2024. Effective from 1st January 2025, digital lenders must reapply to to their respective licensing authorities for the renewal of their operational …

The entire team of Koriat is pleased to announce that the Central Bank of Nigeria has granted a Final Licence (Super Agents Licence) to LibertyPay Limited to operate agency banking in Nigeria. See below: There are different categories of payment licences for operators within the …

A charitable organization or non-governmental organisation (“NGO”) can be registered in Nigeria as either a Company Limited by Guarantee (“Ltd/Gte”) or an Incorporated Trustee (“IT”) depending on the intentions of its promoters and the intended scope of operations. The registration of business entities and NGOs …

The Nigerian financial services sector is highly regulated with a gamut of legislative and other subsidiary legislations binding operators. The Central Bank of Nigeria (“CBN”) is the apex bank and main regulator for licencing and supervising financial services companies including Fintech businesses. In Nigeria, no …

By 31st of December 2023, all existing loan companies’ licences in Nigeria will expire and all loan companies doing business in the country must reapply to to their respective licensing authorities for renewal of their operational licences, amongst other regulatory compliance obligations that they must …