The Economic Community of West African States (ECOWAS) is setting the stage for a shift in regional trade and economic policy with the planned introduction of a single currency—the “ECO”. Supported by Nigeria and fourteen (14) other member countries, this initiative aims to consolidate economic growth and enhance integration across West Africa.  Understanding the New […]

Revocation of Heritage Bank Plc’s License  On June 3, 2024, the Central Bank of Nigeria (CBN) revoked Heritage Bank Plc’s license due to its failure to meet the minimum capital adequacy ratios required by banking guidelines. This action, dictated by Section 12(1) of the Banks and Other Financial Institutions Act, 2020 (BOFIA), highlights Heritage Bank’s […]

The Chairman of the Investment and Securities Tribunal (IST) recently highlighted the significant impact of the IST in resolving capital market disputes in Nigeria. According to the Chairman’s report, since its inception, the IST has successfully resolved disputes valued at approximately N1 trillion, including N17 billion in the past year. Despite these achievements, there remains […]

Nigeria is stepping into a greener future by transitioning to Compressed Natural Gas (CNG) vehicles in its public transportation system.

The Nigerian government is preparing to significantly reshape the maritime sector with the Nigerian Shipping and Port Economic Regulatory Agency Bill 2023.

The Federal Executive Council (FEC) has approved a N110 billion capital injection for startups and early-stage businesses across Nigeria through the Nigeria Youth Investment Fund (NYIF).

On May 30, 2024, the Presidential Committee on Fiscal Policy and Tax Reforms (the “Committee”) in Nigeria presented a proposal to the Federal Government, recommending a fixed exchange rate of N800 per dollar to calculate customs import duty throughout the remainder of 2024.  

On May 20, 2024, the Federal High Court extended an interim order, halting any changes to the existing drilling contract conditions between Dolphin Drilling, a Norwegian offshore drilling contractor, and Lagos-based General Hydrocarbons Limited (GHL)

The digital landscape is constantly evolving, and so is the concept of wealth. Today, digital assets like social media accounts, domain names, cryptocurrencies, intellectual property software etc., have the potential to be as valuable as traditional assets like real estate and stocks.

On May 24, 2024, the Securities and Exchange Commission (SEC) announced its intention to release a comprehensive framework to support the recapitalization of banks in Nigeria in the coming weeks.