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…
Overview of the Central Bank of Nigeria (CBN) Guidelines for the Regulation and Supervision of Credit Guarantee Companies in Nigeria
On 28 March 2022, the Central Bank of Nigeria (CBN) issued the Guidelines for the Regulation and Supervision of Credit Guarantee Companies (CGCs) in Nigeria. The Guidelines are expected to…
Non-Resident Foreign Companies doing Business in Nigeria must now Register for VAT in Nigeria
A Review of the Nigerian Finance Act 2021: On 31 December 2021, the Nigerian President signed the Finance Act 2021 (the Act) into law. The Act came into effect on…
Goldsmiths Solicitors – Legal Recap for the Year 2021
2021 was an incredibly busy and exciting year in the Nigerian legal and regulatory landscape. There were major and far-reaching changes in the legal and regulatory frameworks relating to Oil…