While banks and other financial institutions are prohibited from dealing in cryptocurrencies in Nigeria, cryptocurrency has not been termed illegal, but it is unregulated. Engaging in cryptocurrency transactions does not constitute illegal activities, but what the user does with the cryptocurrency in the transaction determines whether it is unlawful or not. No specific regulation in…
With the growth of various forms of cryptocurrencies and their increasing value, cybercriminals are fast moving their focus from ransomware to cryptojacking due to the reduced risk and larger possibility for financial gain. Cryptojacking, which is less difficult and less detectable than ransomware assaults, allows attackers to mine for cryptocurrencies using compromised computing devices and…
According to recent findings, businesses with less than 200 employees lose an average of $2.5 million each due to cyber threats and Nigerian SMEs are currently highly subjected to cyber-attack. This necessitates an understanding of the most serious cyber security threats facing businesses in Nigeria, as well as strategies for mitigating them. Most Nigerian…
The disruption of robo-advisors in Nigeria as new market players in the financial sector is posing new issues for regulators in the short term. As a result, it is vital that regulators address certain critical factors in order to design and implement effective regulation of robo-advisory services in Nigeria. The Securities and Exchange Commission…
Due diligence is the level of care or judgment exercised prior to establishing a commercial relationship. It is a process that involves collecting, understanding and assessing all legal risk, associated with a target company. The main purpose of due diligence is to investigate all the possible financial and legal risks in relation to a…
Lionel Messi Bids Adieu To Barca, Bonjour PSG: The global sports news airwaves have been dominated by the news of the recent move of Argentine Superstar, Lionel Messi fromF.C Barcelona of Spain to Paris Saint Germain (P.S.G.) after a 21 season Trophy laden period with the club. On August 5, 2021, F.C Barcelona through…
Illegal police arrest and detention of a suspect/defendant in Nigeria can be effectively tackled by a broad and extensive enlightenment of citizens by National Human Rights Commission, Non-Governmental Organizations (NGO’s) and the Police Complaints Response Unit etc. It is becoming more common to find civil disputes having Police participation in contravention of the provisions…
More than 400,000 people die globally from murder or culpable homicide each year. In Nigeria, murder, culpable homicide and attempt to murder are becoming alarmingly prevalent, generating public interest in existing laws that protect and prevent arbitrary deprivation of the constitutionally guaranteed right to life. Two criminal law regimes are in operation in Nigeria;…
For far too long, you’ve already heard of people forming foreign companies in Nigeria to take advantage of tax benefits. The process of setting up an offshore company in Nigeria is much less complicated than most people believe. It is actually simple and straightforward, and can be completed in a matter of weeks. This post…
Annual general meetings (AGMs) are integral components of corporate governance in Nigeria. Words like resolutions, proxies, votes, shares, directors and investors though synonymous with the Annual General Meeting (AGM) have their unique meanings and importance in the Corporate Governance world. The general meeting is a regulatory tool which seeks to ensure that the interests…
