The Federal High Court Port Harcourt Division recently held that the Rivers State Government and not the Federal Government is empowered to collect Value Added Tax (“VAT”) among other taxes in the State.
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The bill seeks to amend the 2020 Appropriations Act and authorize the issue of the total sum of ₦10,509,654,033,053 only from the Consolidated Revenue Fund of the Federation, of which: ₦398,505,979,362 is for Statutory Transfers; ₦2,951,710,000,000 is for Debt Service;
On 24 May 2021, the Central Bank of Nigeria (‘CBN’) issued a circular on the new license requirements for the Payment Systems in Nigeria(the ‘Circular’). This is a follow-up to its circular dated 9 December 2020 issued...
Nigeria’s communications sector is primarily regulated by the Nigerian Communications Act (NCA) and the Wireless Telegraphy Act (WTA). The NCA established the Nigerian Communications Commission (NCC), which is charged with the responsibility of regulating the communiction cation
ArticlesGovernanceNational Renewable Energy Development Agency (Establishment), Bill 2021 (HB. 1241)
The bill seeks to establish the National Renewable Energy Development Agency (the “Agency”), charged with the responsibility of promoting the use of renewable energy resources - including hybrid systems - to achieve greater energy self-reliance and thereby reduce the exposure to fossil fuel price fluctuations, reduce harmful emissions, and promote economic growth and protection of the environment in Nigeria.
What are the primary sources of law, regulation and practice relating to corporate governance? Is it mandatory for listed companies to comply with listing rules or do they apply on a ‘comply or explain’ basis?
Nigeria is a signatory to the following significant air law treaties: • the Convention on International Interests in Mobile Equipment and the Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment (Cape Town, 2001);
What different types of private equity transactions occur in your jurisdiction? What structures are commonly used in private equity investments and acquisitions? Private equity (PE) transactions in Nigeria can generally be classified
What is the legal framework in your jurisdiction covering the behaviour of dominant firms? The Federal Competition and Consumer Protection Act 2018 (FCCPA), which in section 72(1) prohibits the abuse of a dominant position by one or more undertakings.
The bill seeks to transfer the subject matter of minimum wage prescription from the Exclusive Legislative List set out under Part I of the Second Schedule to the Concurrent Legislative List set out under Part II of the Second Schedule of the Constitution.
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