New Rules for Agent Banking in Nigeria
On 6 October 2025, The Central Bank of Nigeria (CBN) issued the Guidelines for the Operations of Agent Banking in Nigeria (the “Guidelines”). The purpose of the Guidelines is the…
How Virtual Assets Service Providers (VASPs) Can Obtain Licenses in Nigeria
With the enactment of the Investment and Securities Act (ISA) 2025, virtual assets/digital assets including cryptocurrencies, Non-Fungible Tokens (NFTs), etc. can now be legally traded and transacted in Nigeria subject to satisfying applicable legal requirements. Prior to the enactment of the ISA, the legality of trading or transacting in virtual/digital assets was uncertain especially following the Central Bank of Nigeria (CBN) circular of 2021 which directed all financial institutions to identify persons and entities transacting or operating cryptocurrency exchanges in Nigeria and ensure that their bank accounts are closed.
A Guide on Anti-Money Laundering and Counter-Terrorism Finance Compliance for Designated Non-Financial Businesses and Professions in Nigeria
Money laundering and terrorist financing are major threats to national and global security, and Nigeria is no exception. Under Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 (MLPPA), money laundering is defined as the act of concealing, disguising, converting, transferring, or controlling funds or property, knowing they are proceeds of an unlawful act.
All You Need to Know About Nigeria’s Newly Signed Tax Reform Acts
Introduction On 26th June 2025, the President of the Federal Republic of Nigeria signed four landmark tax reform bills into law, marking a significant shift in the nation’s tax landscape.…
Overregulation of FinTechs in Nigeria: Myth or Reality
Introduction In the last few years, the Nigerian Financial Technology (FinTech) space has witnessed exponential growth and has attracted both local and international investors. Nigeria is home to some unicorns…
The Role of Arbitration in Resolving Disputes in Nigeria
Disputes are inevitable in most business relationships. Traditional litigation, while effective, often proves to be time-consuming, expensive and adversarial, potentially straining business relationships. This is particularly the case in Nigeria…
How to Obtain International Money Transfer Operators (IMTO) License from the Central Bank of Nigeria
An International Money Transfer Operator (IMTO) is a company approved by the Central Bank of Nigeria (CBN) to facilitate the transfer of funds from individuals or entities residing abroad to…
Goldsmiths Solicitors – Legal Recap for the Year 2024
This Legal Recap for 2024 offers a comprehensive overview of the most significant legal, regulatory, and judicial developments in Nigeria. In 2024, Nigeria’s legal landscape experienced major transformations, with notable…
Practical Tips on How to Obtain Sports Betting License in Lagos State, Nigeria
Following the emergence of online betting, the Nigerian gambling industry has experienced extraordinary growth in the past few years. This also followed the legalization of some forms of gambling in…
How to Obtain Money Lenders License in Lagos State, Nigeria
A money lender looking to operate in Nigeria must navigate a regulated framework that governs loan services across the country. With Nigeria being a leading Fintech hub in Africa, we…