In 2019, the Federal Competition and Consumer Protection Commission Act (FCCPA) was enacted into law. The FCCPA is Nigeria’s first federal competition and consumer protection statute. The FCCPA also establishes the Federal Competition and Consumer Protection Commission (the Commission) and the Federal Competition and Consumer Protection Tribunal (the Tribunal), respectively,
For an employment relationship that is not clothed with statutory flavor, a contract of employment is the basis of that relationship. In a contract of employment, the terms of the relationship, benefits, and responsibilities of the employer and employee are clearly stated. Such terms may include salary, retirement benefits, company policies, and termination.
The Nigerian Startup Act, 2022 (the “Act”) was signed into law by President Muhammadu Buhari on 19 October 2022. The Act aims to provide a legal and institutional framework for the development of startups in Nigeria by providing an enabling environment for the establishment, development, and operation of startups in Nigeria, providing for the development and growth of technology-related talent, and positioning Nigeria’s startup ecosystem as the leading digital technology centre in Africa, having excellent innovators with cutting edge skills and exportable capacity.
The digital world is here to stay. It is the new normal. This realization was responsible for the conclusion of the OECD that the digital economy cannot be ringfenced for tax purposes as digitalization has imprinted virtually every sector of the world’s economies.
In this series of questions and answers, we provide an overview of the competition-related aspect of the merger control process in Nigeria
The Constitution of the Federal Republic of Nigeria (Fifth Alteration) Bill No. 19, 2022 (“the Bill”) sought to amend Chapter VII, Part IV of the Principal Act (the 1999 Constitution), by inserting after the existing section 287, a new section ‘287A’, that will comprise 10 (ten) clauses. Clause 2 of the Bill proposed to mandate every trial superior court of record to deliver judgment on a matter before it, within 270 days (about nine months) from the date of the filing.
According to Clause 2, the Bill clearly defines its scope as applying to companies incorporated under the Companies and Allied Matters Act, 2020 (“CAMA”) and registered as start-ups per the provisions of Clause 13 of the Bill, and also organisations whose activities affect the creation, support and incubations of labelled start-ups in Nigeria. Non-technology companies, holding companies or subsidiaries of
The Department of Petroleum Resources (DPR)on the 31st of May 2020 issued Guidelines for the Award and Operations of Marginal Fields in Nigeria, 2020 (“the Guidelines”). The aim of the Guidelines is
In the modern context of capital raising, Crowdfunding is a relatively novel method for funding for-profit ventures/projects which allows individual founders/promoters to request funding from many individuals in
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