Navigating Class Actions in Nigeria: Challenges, Developments and Future Prospects
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A 2021 report by the International Survey on Revenue Administration reveals that only about 16.7% of the Nigerian economically active population pay tax1. The informal sector is estimated at 65% of the gross domestic product (GDP)2 and according to SMB Intelligence, the reason for the low tax-to-GDP ratio in Nigeria is because of the large size of the country’s informal economy.3
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Streamsowers & Köhn’s Ibukun Konu sheds some light on how the recent passing of revolutionary new legislation looks set to generate a boost in the use of renewable energy in Nigeria’s future.
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On 25th July 2023, the Corporate Affairs Commission (“the Commission”) in partnership with the NBA-SBL organised a training workshop on the use of the Beneficial Ownership Register (“BOR").
The Federal High Court in Suit No: FHC/L/CS/742/2020 between Wale Taiwo SAN v. Stanbic IBTC Plc. & 4 Ors. restrained Stanbic IBTC Plc from complying with a demand by the House of Representatives Joint Committee on Finance and Banking & Currency to disclose sensitive confidential customer information, particularly foreign exchange transactions conducted through the Plaintiff’s
In July 2016, the Federal Government established the Presidential Enabling Business Environment Council (“PEBEC”) to address the constraints facing businesses in Nigeria. One key focus area has been improving the ease of doing business, including the process of starting a business.
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