Bank loans are a very valuable tool for the growth and sustainability of businesses in Nigeria; particularly since we are not exactly a credit-oriented society. It is important to understand that obtaining a bank loan in Nigeria does not necessarily mean that a person or business is in financial trouble. In fact, a loan can…
Venture capital firms in Nigeria are gradually becoming a regular part of the startup conversation. In the last 3 years, we have witnessed an increased activity of local and international VC firms in Nigeria and across the African continent and there is an advocacy for the rise of more homegrown VCs who will be instrumental…
The Federal Government recently raised alarm over the use of “deepfake news to target the Nigeria government and its officials. According to the report, fake news has gotten worse by becoming a tool for critics to target the government, and Nigerians ought to know that we have graduated from normal fake news to “deepfake news”.…
Generally, Intellectual Property (“IP”) covers products of intellectual creations. However, it can also mean a generic term that describes creations of the intellect concerning which the law ascribes the exclusive right of appropriation to the designated owners. Intellectual Property law is a body of laws that governs all the relevant aspects (i.e. ownership, registration, protection,…
Nigerians are becoming well-known for their involvement in dating or romance scams. Scammers prey on those looking for love connections, generally through dating websites, apps, or social media, by posing as potential partners. They use emotional manipulation to persuade them to provide money, gifts, or personal information. According to CNN, federal authorities have charged…
The pandemic of the coronavirus (COVID-19) has impacted the delivery of legal services in Nigeria. For cyber-criminals and fraudsters, these shifts have created an opportunity as they increasingly take advantage of the spread of the virus to engage in criminal activities. Since the emergence of COVID-19, global reports have identified over 31,000 scams relating…
Ransomware is a serious threat to businesses, and it is getting worse. While individuals were struggling to deal with ransomware attacks, fraudsters went one step further and started offering ransomware-as-a-service (RaaS). Via this business model, Cybercriminals offer a malicious kit that may be used to conduct ransomware attack services at little or no price. …
The “dark web” is a hidden internet world where good and evil coexist. On the bright side, the dark web enables anonymous, highly secure communication routes to protect reform agents such as human rights activists and journalists who are targeted by oppressive foreign regimes. On the negative side, the dark web has become a…
There has been an increase in the use of Arbitration process in Nigeria to resolve complex commercial disputes. The resurgence in the use of arbitration process in Nigeria is as a result of users’ dissatisfaction with the slow pace and inefficiency of the normal court system in Nigeria. The normal court system in Nigeria is…
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…
