Tag: company registration

The long wait is over! The Central Bank of Nigeria (“CBN”) has announced, in its Press Release of 20th September 2023, the unveiling of a new digital platform for submission of microfinance bank (“MFB”) licence applications, known as the CBN Licensing, Approval and Other Requests …

Doing business in Nigeria is easy if business promoters are properly guided on the requirements for company incorporation, licensing procedures, applicable taxes and related costs. For example, as parts of the efforts of the Federal Government of Nigeria to promote investment opportunities, the Business Facilitation …

The Ministry of Home Affairs and Tourism (“Ministry”) of the Lagos State Government has renewed the operational licence for digital lending business for our client, Igho Finance Limited. This renewal of the digital lending licence is a confirmation of the company’s compliance with regulatory standards …

On 2nd of August, 2023, the Federal Competition & Consumer Protection Commission (“FCCPC”) issued a new directive that all previously approved digital money lenders in Nigeria must revalidate the information they submitted to the FCCPC. The foregoing means that existing loan companies in Nigeria must …

Federal Competition & Consumer Protection Commission (FCCPC) has permanently delisted three digital loan Apps belonging to Orange Loan Limited, Purple Credit Limited and another company which are licensed as approved Digital Mobile Lenders (“DMLs”) in Nigeria. According to the Commission, the deleted loan Apps were …

Companies doing business in Nigeria are required by the Corporate Affairs Commission (“CAC“) to make some mandatory compliance filings failure of which may attract severe penalties including deletion of any defaulting company from the CAC’s Register of Companies in Nigeria. In 2022, the CAC published …

Rwanda is one of the fastest developing African countries with a thriving Information Communication and Technology (ICT) sector. According to the Rwanda Development Board (RDB), as of 2020, the ICT sector grew by 29%, contributed 2% of the country’s GDP and employed around 8,962 workers …

Quarrying business is an important sub-sector of the Nigerian mining industry. The mining and quarrying sector contributed over N100 billion to Nigeria’s GDP in 2021. The quarrying business sector is regulated by the Federal Ministry of Mines and Steel (“Ministry”) in terms of issuance of …

Hotel business is a flourishing business in most parts of the commercial cities of Nigeria. Lagos State, as the commercial capital of the country, is a preferred destination for investors seeking to do hotel business in Nigeria. This article details out the requirements, procedures and …

What is a non-interest bank or financial institution? A non-interest bank or other financial institution is one of the specialized institutions that can be licensed by the Central Bank of Nigeria (“CBN”), as complements of the conventional banking system, to undertake banking, trading, investment and …