A Guide on Anti-Money Laundering and Counter-Terrorism Finance Compliance for Designated Non-Financial Businesses and Professions in Nigeria

A Guide on Anti-Money Laundering and Counter-Terrorism Finance Compliance for Designated Non-Financial Businesses and Professions in Nigeria

Banking and Finance Law, Business Advisory, Corporate & Commercial, Corporate Restructuring and Insolvency, Financial Services, Insights

Money laundering and terrorist financing are major threats to national and global security, and Nigeria is no exception. Under Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 (MLPPA), money laundering is defined as the act of concealing, disguising, converting, transferring, or controlling funds or property, knowing they are proceeds of an unlawful act. Terrorist financing on the other hand, refers to the provision of funds or financial support to individuals or groups to enable them commit acts of terrorism.

Tax Reform Act

All You Need to Know About Nigeria’s Newly Signed Tax Reform Acts

Banking and Finance Law, Business Advisory, Business, Entrepreneurs, Business, Small Business, Capital Markets, Corporate & Commercial, Corporate Restructuring and Insolvency, Financial Services, Financial Technology (FinTech), Insights, Labour and Employment

Introduction On 26th June 2025, the President of the Federal Republic of Nigeria signed four landmark tax reform bills into law, marking a significant shift in the nation’s tax landscape.…

Overregulation of FinTechs in Nigeria: Myth or Reality

Banking and Finance Law, Business Advisory, Corporate & Commercial, Financial Services, Financial Technology (FinTech), Insights, Startups and MSME Law

In the last few years, the Nigerian Financial Technology (FinTech) space has witnessed exponential growth and has attracted both local and international investors. Nigeria is home to some unicorns especially in the payments segments of the financial services sector. Like in most jurisdictions, the regulators appear to be playing ‘catch up’ with FinTechs and it has been said that there appears to be an over regulation of FinTechs in Nigeria.

ARBITRATION

The Role of Arbitration in Resolving Disputes in Nigeria

Banking and Finance Law, Business Advisory, Capital Markets, Corporate & Commercial, Energy & Natural Resources, Financial Services, Financial Technology (FinTech), Innovation and Technology, Insights, Labour and Employment, Litigation and Alternative Dispute Resolution (ADR), Media and Entertainment, Public-Private Partnerships (PPP), Startups and MSME Law

Disputes are inevitable in most business relationships. Traditional litigation, while effective, often proves to be time-consuming, expensive and adversarial, potentially straining business relationships. This is particularly the case in Nigeria…

International Money Transfer

How to Obtain International Money Transfer Operators (IMTO) License from the Central Bank of Nigeria

Banking and Finance Law, Business Advisory, Business, Small Business, Capital Markets, Corporate & Commercial, Financial Services, Financial Technology (FinTech), Insights

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…

Legal Recap

Goldsmiths Solicitors – Legal Recap for the Year 2024

Banking and Finance Law, Business Advisory, Corporate & Commercial, Financial Services, Financial Technology (FinTech), Insights, Press Release, Project Finance, Public Sector, Public-Private Partnerships (PPP), Startups and MSME Law

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…