The rapid expansion of Nigeria’s music industry is not only a cultural milestone but also a strategic asset in the country’s economy. As global demand for Nigerian music surges, particularly through digital platforms like Spotify, royalty inflows are injecting valuable foreign exchange, stimulating ancillary industries such as audiovisual production and
On 2nd October 2024, the Deduction of Tax at Source (Withholding) Regulations 2024 (the Regulations), issued by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, were published in the official gazette. The Regulations took effect from 1st January 2025.
The Nigerian music industry is laced with stories of exploitation and conflict between artists and record labels. It has now become expedient for artistes and entertainers to take a holistic view of what legal protections are available to them and save themselves from countless disputes. The point is that the array of
On 19 July 2024, the Federal Competition and Consumer Protection Commission (FCCPC or Commission) in Nigeria imposed a fine of $220 million on Meta Platforms Inc (Meta), the parent company of WhatsApp LLC (WhatsApp), for violations of both the Federal Competition and Consumer Protection Act 2018 (FCCPA) and the
In Nigeria, the execution of an aircraft or engine sale agreement will attract stamp duties at an ad valorem rate of 1.5%. The gains realised from the sale will be subject to capital gains tax. Capital gains tax at the rate of 10% arises on gains accruing to domestic parties upon the sale of
We are delighted to announce the publication of Lexology’s Panoramic Telecoms and Media: Nigeria 2024, authored by our partners Tamuno Atekebo and Chukwuyere Izuogu. This comprehensive guide provides an in-depth overview of communications and broadcast media regulation in Nigeria, highlighting key trends and developments in each sector.
Artificial Intelligence is developing rapidly around the world, with Nigeria seeing growing adoption and investment in AI technologies across various industries. As AI systems become more advanced and autonomous in their capabilities, questions have emerged regarding the application of copyright law to the works created by AI. Nigeria’s current copyright statutes were established prior to the emergence of AI and do not provide explicit guidance on authorship and ownership issues involving AI-generated output. This article examines the potential impacts of advancing AI technologies on copyright protection in Nigeria, as well as the challenges involved in appropriately applying and updating intellectual property law for an AI-driven era.
The Public Officer Protection Act, 2004 (POPA) was enacted in a bid to ensure that public officers are not distracted from their public functions and duties at the instance of many litigations pending against them. This article will appraise the provisions of the POPA, examine the exceptions created from the protections of the court, and clarify the extent of the protection offered by the Act.
The Central Bank of Nigeria (CBN) has issued a significant directive affecting electronic transfers. As per the latest mandate, banks are now required to impose a 0.5% cybersecurity levy on electronic transfers. Our article sheds more light on the implications of this directive and how it might impact your transactions.
Public sector governance is aimed at ensuring that Public Sector Entities (PSEs) not only fulfill their mandates and achieve their intended outcomes but also operate within the bounds of ethical integrity, transparency, efficiency, and effectiveness. The Nigeria Public Sector Code of Corporate Governance 2023(referred to as "the draft Code") encompasses a comprehensive definition of PSEs. This includes all
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