Almost three years after The Start-up Act, was signed into law in Nigeria, the jury is still out as to whether or not it has made any difference at enhancing the development and growth of the Nigerian Startup sector and encouraged innovation and entrepreneurship for startups. In October 2022, Nigerian president at the time, signed…
An International Money Transfer Operator (IMTO) is a company approved by the Central Bank of Nigeria (CBN) to facilitate the transfer of funds from individuals or entities residing abroad to recipients in Nigeria. Cross-border money remittances into Nigeria by any financial institution are regulated by the CBN. Therefore, any person or entity desiring to provide…
This Legal Recap for 2024 offers a comprehensive overview of the most significant legal, regulatory, and judicial developments in Nigeria. In 2024, Nigeria’s legal landscape experienced major transformations, with notable developments across various sectors including financial services, oil and gas, energy, transportation, etc. Significant judicial decisions were also delivered by the courts which shaped the…
Following the emergence of online betting, the Nigerian gambling industry has experienced extraordinary growth in the past few years. This also followed the legalization of some forms of gambling in the Nigerian Criminal Code Act, 1990. The industry has therefore continued to attract both local and international investors due to its huge potentials. Gambling activities…
Navigating the regulatory requirements for telemedicine businesses in Nigeria is crucial for entrepreneurs and healthcare providers aiming to offer remote medical services. Telemedicine which involves the delivery of healthcare services remotely using information and communication technologies which allow real-time audio or audio-visual patient-health provider communication, diagnosis and treatment through laboratory tests and drug prescriptions. With the…
A money lender looking to operate in Nigeria must navigate a regulated framework that governs loan services across the country. With Nigeria being a leading Fintech hub in Africa, we have in last few years witnessed a surge in online money lending service. The operation of money lending business in Nigeria is regulated by the…
It is required that all food, drinks, drugs, chemicals, cosmetic products and medical devices whether imported or locally manufactured are registered with The National Agency for Food and Drugs Administration and Control before being marketed, sold or distributed in Nigeria. This article highlights the requirements, processes and practical considerations to consider when registering imported products…
The Expatriate Employment Levy (EEL) handbook was recently issued by the Ministry of Interior and was launched by the Nigerian president, on 27 February 2024. The EEL is a government-mandated contribution imposed on companies that employ expatriate workers in Nigeria. According to the Nigerian government, the EEL is aimed at addressing the wage imbalance between…
2023 was election year in Nigeria. It therefore was no surprise that we saw a lot of activities in the legal space in Nigeria, not least in the enactment of new laws, handing down of judicial decisions and the like. In our 2023 legal recap, we have highlighted some of the major legal, regulatory, and judicial changes that occurred. This recap is divided into four parts representing four quarters of the year. In each quarter, we deal with all the major legal changes that occurred therein.
Like in all common law jurisdictions, relationships between employers and employees in Nigeria are primarily governed by their contracts of employment and any applicable employment laws for the time being in force. Contracts of employment would typically deal with issues such as nature of work, hours of work, emoluments, holidays, sickness, termination, notice period, disciplinary procedures, etc. Despite the provisions of the contracts, disputes still arise between the parties. Some of the issues that lead to disputes in employment include termination without notice, failure to follow laid down procedure/policies, non-payment of termination benefits, failure to give notice of termination, withholding or deduction of salaries, etc.