Goldsmiths Solicitors – Legal Recap for the Year 2025

2025 was a very exciting year and saw significant changes in Nigeria’s legal and regulatory landscape. Series of laws were enacted by the National Assembly and regulatory guidelines were also issued by regulators including the Central Bank of Nigeria, Federal Competition and Consumer Protection Commission, the Nigerian Communications Commission, etc. There were also some important judicial decisions from the courts in Nigeria which shaped the legal and regulatory space in the country. This recap is divided into four parts representing the four quarters of the year, highlighting what we think are the most impactful laws and regulations, reforms, and judicial decisions in 2025.

Nigeria Officially Launches Open Banking Framework

Nigeria Officially Launches Open Banking Framework

The formal operationalization of the Open Banking framework marks a significant milestone in Nigeria’s financial sector, positioning the country as a leader in Africa for adopting this collaborative system. Driven by the Central Bank of Nigeria (CBN), the framework establishes the foundational rules and technical standards for secure, consent-based sharing of customer financial data and services through standardized Application Programming Interfaces (APIs).

New Obligations Under the NCC Internet Code of Practice 2025

New Obligations Under the NCC Internet Code of Practice 2025

The Nigerian communications landscape is currently undergoing a significant regulatory shift following the issuance of the draft Internet Code of Practice 2025 by the Nigerian Communications Commission (NCC). This proposed framework introduces substantial new obligations for “Online Platforms,” a broad categorization that encompasses social media networks, digital content streaming services, messaging applications, and any intermediary facilitating user-generated content or digital services.

The Nigerian Music Industry - Navigating Digital Royalties and the Copyright Act, 2022

The Nigerian Music Industry: Navigating Digital Royalties and the Copyright Act, 2022

The Nigerian music industry, globally recognized for its vibrant Afrobeats genre, is currently undergoing a pivotal transformation in its approach to Intellectual Property (IP) following the enactment of the Nigerian Copyright Act, 2022 (the Act). This legislation is explicitly designed to address the persistent economic threat posed by digital piracy and the complexities of online content distribution, providing modern legal tools for securing artists’ remuneration.

Legislative Update - Proposed Nigerian Fintech Regulatory Commission Bill Advances

Legislative Update: Proposed Nigerian Fintech Regulatory Commission Bill Advances

The Nigerian House of Representatives successfully passed the Nigerian Fintech Regulatory Commission Bill (HB. 2389) for its second reading on October 28, 2025. This legislative progression is a pivotal step towards restructuring the regulatory framework governing the country’s burgeoning fintech sector. Nigeria’s current fintech ecosystem faces regulatory complexity due to fragmented oversight distributed among various agencies, primarily the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).

Contracting in the Digital Finance Ecosystem: How to Manage Legal Risks in Nigerian FinTech Partnerships

The emergence and continued growth of Financial Technology (FinTech) companies in the Nigerian financial services sector has redefined how financial services are delivered, with technology driven solutions that enable faster payments, lending and wealth management. These innovations often lead to complex collaborations between FinTech startups, traditional banks and third-party service providers. These partnerships may inevitably expose the parties to legal and regulatory risks if not properly managed.