Is your country party to any bilateral or multilateral treaties for the reciprocal recognition and enforcement of foreign judgments? What is the country’s approach to entering into these treaties, and what, if any, amendments or reservations has your country made to such treaties?
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.
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
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 Warsaw Convention 1929 was extended to Nigeria by the British colonial government via an order known as the Carriage by Air (Colonies, Protectorates and Other Trust Territories) Order 1953. This Order was repealed by section 77(1)(a) of the Civil Aviation Act 2006 (CAA 2006). Prior to its repeal, the applicability of the Warsaw Convention as the basis for determining air carrier liability was upheld in a plethora of Nigerian cases. The Warsaw Convention has, however, ceased to apply in Nigeria.
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