In a significant ruling, the Tax Appeal Tribunal (TAT) dismissed the Bayelsa State Board of Internal Revenue’s appeal against Sterling Global Resources Ltd, a player in the oil and gas sector.

On February 20, 2024, the Federal Inland Revenue Service (FIRS) introduced TaxProMax, an innovative digital platform tailored for Transfer Pricing (TP) and Country by Country Reports (CbCR) submissions.

In recent weeks, a series of undersea cable cuts have caused significant disruptions to data and voice services across Africa

The country once again emerged victorious and received a more reassuring relief in what may well be dubbed the most significant and indeed controversial arbitration dispute in Nigeria’s history.

On January 5, 2024, a pivotal Supreme Court ruling clarified the National Inland Waterways Authority’s (NIWA) role as the singular regulatory body for Nigeria’s inland waterways, marking a significant moment for regulatory clarity in the nation. 

In a landmark development that underscores Nigeria’s increasing focus on tax compliance and corporate accountability, MultiChoice, the prominent broadcaster known for DSTV, has finalized a substantial settlement with the Nigerian tax authorities.

In an unprecedented series of events that have reshaped the geopolitical and economic landscape of West Africa, Burkina Faso, Mali, and Niger have formally exited the Economic Community of West African States (ECOWAS) as of January 28, 2024.

On February 13th, 2024, the Corporate Affairs Commission (CAC) directed social media content creators to formalize their operations by registering their businesses under the Companies and Allied Matters Act, 2020.

On December 22, 2023, the Central Bank of Nigeria (CBN) introduced guidelines for Virtual Asset Service Providers (VASPs).

In an important development for Nigeria’s power sector, President Tinubu has signed into law the Electricity Act (Amendment) Bill, 2024