*Aderonke Alex-Adedipe and Olawale Atanda

On the 5th of February 2021, the Central Bank of Nigeria (CBN)[i] released a letter addressed to banks and other financial institutions which stated that dealing in cryptocurrencies and facilitating payment for cryptocurrency exchanges are prohibited. …

*Seun Timi-Koleolu and Olawale Atanda

In July 2020, the Central Bank of Nigeria (CBN)[i] released a draft Framework for Regulatory Sandbox Operations[ii] aimed at establishing a controlled environment where disruptive technology in the financial services can be tested under the supervision of the CBN.

The CBN has now issued an…

*Seun Timi-Koleolu and Olawale Atanda

Companies desirous of providing International Money Transfer Operator (IMTO) services in Nigeria are required to be licensed by the Central bank of Nigeria (CBN) as provided by the Guidelines for the Operation of International Money Transfer Services in Nigeria, 2014 (“IMTO Guidelines”).

What activities can…

*Aderonke Alex-Adedipe and Olawale Atanda

The Federal Executive Council ratified Nigeria’s membership of the African Continental Free Trade Area (AfCFTA) on the 11th of November 2020. This occurs more than a year after Nigeria signed the African Continental Free Trade Agreement (the “Agreement”) in July 2019. …

*Aderonke Alex-Adedipe and Olawale Atanda

The main objective of every business is to make profit. Companies continually explore methods of increasing their bottom line and sometimes, that may mean acquiring companies in the same industry for several operational or economic reasons which ultimately would lead to increased revenue.

Recently, the…

*Aderonke Alex-Adedipe and Olawale Atanda

Investment entities may take several forms in Nigeria. …

*Seun Timi-Koleolu and Olawale Atanda

Startups require funding for their operations and to scale. This is where venture capital companies (VCs) come in. VCs (as a subset of private equity) provide early or late stage financing to startups. VC funding is growing in Nigeria and has led to startups receiving…

*Seun Timi-Koleolu and Olawale Atanda

The National Information and Technology Development Agency (“NITDA”) recently published the Draft Data Protection Bill 2020 (the “Bill”) for the input of stakeholders. The Bill, if enacted, will be an addition to the laws that govern the use and protection of the data in Nigeria.

*Aderonke Alex-Adedipe and Olawale Atanda

Lack of financing is a major constraint which businesses experience at the startup phase. Seed capital is required for startups to fund their operations and scale, thereby returning profits to founders and investors.

A major indicator that a startup may thrive is the availability of…

*Seun Timi-Koleolu and Olawale Atanda

Access to credit in Nigeria has been low for a while, with the Central Bank of Nigeria affirming that only 5.3% of the adult population have access to finance. …

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