The Central Bank of Nigeria (CBN) has extended the deadline for Bureau De Change (BDC) operators to access foreign exchange (FX) through the Nigerian Foreign Exchange Market (NFEM) from January 30, 2025, to May 30, 2025.

On March 12, 2025, the National Pension Commission (PenCom) introduced a significant policy change to accelerate the processing of pension benefits for Retirement Savings Account (RSA) holders. From June 1, 2025, Pension Fund Administrators (PFAs) will no longer require PenCom’s approval before disbursing benefits, a move designed to enhance efficiency and eliminate delays in the pension payment process. 

On February 14, 2025, the Nigeria Customs Service (NCS) formally launched the Authorised Economic Operator (AEO) Programme following a successful pilot phase that began in September 2024. During the pilot, participating businesses reportedly saved over ₦100 million and experienced a 66.9% reduction in average customs clearance time.

On February 28, 2025, His Excellency, President Bola Ahmed Tinubu signed the ₦54.99 trillion Appropriation Bill into Law. The budget, which reflects a significant increase from 2024 figures, outlines the government’s spending and revenue priorities for the year.

Recently, the Federal Government of Nigeria, through the National Council on Micro, Small, and Medium Enterprises (MSMEs), announced the creation of a specialized financing committee aimed at improving access to capital for MSMEs.

A bill introduced in the Nigerian Senate seeks to introduce new obligations for social media platforms and online content creators. Notably, it mandates that digital platforms operating in Nigeria establish physical offices within the country.

Introduction  The Federal High Court has established a dedicated Insolvency Unit to strengthen Nigeria’s corporate legal framework and improve corporate restructuring and dissolution processes. Approved by the Chief Judge, Justice John Terhemba Tsoho, the unit will operate under key Nigerian laws, including the Companies and Allied Matters Act (CAMA) 2020, the Asset Management Corporation of […]

On February 12, 2025, the House of Representatives passed the second reading of four major tax reform bills introduced by His Excellency, President Bola Ahmed Tinubu.

The Nigerian Communications Commission (NCC) has approved a 50% increase in telecom tariffs, marking the first major adjustment in over a decade.

A recent ruling of the Federal High Court, Lagos in the case of Emeka Nnubia v. Honourable Minister of Industry, Trade and Investment, FCCPC and MTN Communications Nigeria Plc (FHC/L/CS/1009/2024), has reaffirmed the Federal Competition and Consumer Protection Commission’s (FCCPC) oversight authority over competition and consumer protection across all sectors.