How to Obtain Money Lenders License in Lagos State, Nigeria
Introduction With Nigeria being a leading Fintech hub in Africa, we have in last few years witnessed a surge in online money lending service. The operation of money lending business…
What you Need to Know about the New Nigeria Expatriate Employment Levy
The Expatriate Employment Levy (EEL) handbook was recently issued by the Ministry of Interior and was launched by the Nigerian president, on 27 February 2024. The EEL is a government-mandated…
Goldsmiths Solicitors – Legal Recap for the Year 2023
Introduction 2023 was election year in Nigeria. It therefore was no surprise that we saw a lot of activities in the legal space in Nigeria, not least in the enactment…
Better Late than Never: Nigeria Finally Passes the Data Protection Act
On 12 June 2023, the Nigeria Data Protection Act, 2023 (“the Act”) was signed into law by President Bola Ahmed Tinubu. The Act provides a legal framework for the protection…
How to Obtain a Payment Solution Service Providers Licence in Nigeria
Introduction A Payment Solution Service Providers (PSSP) licence is a financial licence within the payments system which is issued by the Central Bank of Nigeria (CBN). A PSSP licence authorizes…
An Overview of CBN’s Operational Guidelines for Open Banking in Nigeria
Introduction By a Circular dated 7th March 2023, the Central Bank of Nigeria (CBN) released the “Operational Guidelines for Open Banking in Nigeria” (‘the Guidelines’). The Guidelines set out rules…
Goldsmiths Solicitors – Legal Recap for the Year 2022
Introduction 2022 has been an incredibly busy and exciting year in the Nigerian legal and regulatory environment. There were major and far-reaching changes ushered in by the regulatory authorities particularly…
An Overview of the Central Bank of Nigeria Exposure Draft Guidelines on Contactless Payments in Nigeria
On 25 October 2022, the Central Bank of Nigeria (CBN) released the Exposure Draft Guidelines on Contactless Payments in Nigeria (the Guidelines). The Guidelines were released by CBN in line…
The Nigerian Startup Act, 2022, Nigeria’s Bold Step to Encourage Innovation?
The Nigerian Startup Act, 2022 (the Act) was signed into law on 19th October 2022 by President Muhammad Buhari. The core objectives of the Act are to boost digital operations…
An Overview of the Central Bank of Nigeria Exposure Draft Guidelines for the Regulation of Representative Offices of Foreign Banks in Nigeria
On 12 October 2022, the Central Bank of Nigeria (CBN) released an exposure draft Guidelines for the Regulation of Representative Offices of Foreign Banks in Nigeria (the Guidelines). The Guidelines…