Nigerian Open Banking - The Legal Framework All Banks and FinTechs Need to Know

Nigerian Open Banking: The Legal Framework All Banks and FinTechs Need to Know

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

The Central Bank of Nigeria (CBN) framework on open banking has now transitioned from a policy document to a phased implementation. Nigeria has a comprehensive history of open banking; with the Central Bank issuing Africa’s first Open Banking Regulatory framework in February 2021, followed by the Operational Guidelines in March 2023. In April 2025, the CBN provided August 2025 as the launch date for an operation that would have seen Nigeria emerge as the first African country to launch national open banking. However, the initial launch date was deferred as the CBN stressed that a wholly automated system that offers robust data protection and stringent consumer protection mechanisms should first be in place.

IP and the Nigerian Creative Economy - Why Founders Are Leaving Money On The Table

IP and the Nigerian Creative Economy: Why Founders Are Leaving Money On The Table

Business Advisory, Business, Entrepreneurs, computers and technology, fashion, Innovation and Technology, Intellectual Property, Startups and MSME Law

Film, music, fashion, digital content, gaming, and design, as well as the technology platforms that distribute and monetise creative work, are among Nigeria’s fastest-growing sectors and among its top exports to the world. Nollywood is the second-largest film industry in the world by volume with the industry projected to surpass ₦20 billion in gross box office revenue by the end of 2026. The Nigerian music industry is attracting international commercial interest in a way that seemed impossible a decade ago. Nigerian fashion, design, and digital content are gaining commercial sophistication.

Regulatory Compliance Strategies for Navigating Cybersecurity Risks and Threats in Nigeria

Regulatory Compliance Strategies for Navigating Cybersecurity Risks and Threats in Nigeria

Business Advisory, computers and technology, Corporate & Commercial, Innovation and Technology

In today’s increasingly digital environment, cybersecurity has become a critical issue for organizations across the globe, including Nigeria. As organizations continue to rely heavily on digital systems and infrastructures for communication, financial transactions, data storage, and operational processes, they are becoming increasingly vulnerable to cyberthreats and breaches such as data theft, ransomware attacks, phishing schemes, and unauthorized system access. These threats not only expose companies to financial losses but can also damage corporate reputation, disrupt business operations, and result in regulatory penalties. In Nigeria, several regulatory frameworks such as the Nigeria Data Protection Act, 2023 and other sector specific compliance regulations place increasing obligations on companies to protect and safeguard sensitive information and implement effective cybersecurity measures.

How to Obtain Internet Service Provider’s (ISP) License in Nigeria

How to Obtain Internet Service Provider’s (ISP) License in Nigeria

Business Advisory, computers and technology, Innovation and Technology, Telecommunications

The Nigerian telecommunication sector has continued to experience exponential growth by attracting interests from local and international investors. With a teeming youth population, increase in remote work, online streaming, Nigeria presents immense opportunity for investments in the telecommunication sector especially the provision of internet services.
An Internet Service Provider (ISP) is a company that provides access to the internet through various technologies including fibre-optics, satellite and cable, to individuals and organisations and may also provide other related services such as web hosting, etc.

The Orbit of Space Governance -- Understanding Nigeria’s Multilayered Satellite Legal Frameworks

The Orbit of Space Governance: Understanding Nigeria’s Multilayered Satellite Legal Frameworks

Business Advisory, Innovation and Technology, Telecommunications

Nigeria’s investment in satellite technology, anchored by the Nigerian Communications Satellite Limited (NIGCOMSAT), sits at the intersection of law, policy, and rapid technological innovation. As a state-owned enterprise mandated to provide satellite communication services, NIGCOMSAT operates within a sophisticated legal and regulatory ecosystem designed to ensure compliance with global norms while positioning Nigeria strategically within the emerging global space economy. For industry stakeholders, legal practitioners, and technology enthusiasts, understanding this framework is essential, as it dictates how satellite services are delivered, how international partnerships are structured, and how the broader technology landscape is governed.

Goldsmiths Solicitors – Legal Recap for the Year 2025

Banking and Finance Law, Business Advisory, Business, Entrepreneurs, Business, Sales, Capital Markets, Corporate & Commercial, Financial Services, Financial Technology (FinTech), Innovation and Technology, Intellectual Property, Public Sector, Startups and MSME Law, Telecommunications

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.

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…

What the Electricity Act 2023 Means for the Electricity Market and Stakeholders in Nigeria.

Business Advisory, Construction, Corporate & Commercial, Energy & Natural Resources, Innovation and Technology, Insights, Project Finance, Public Sector, Public-Private Partnerships (PPP)

On 9th June 2023, President Bola Ahmed Tinubu signed the Electricity Act 2023 into law. Notwithstanding all the steps taken by previous governments and administrations, the Nigerian power sector continues…

Better Late than Never: Nigeria Finally Passes the Data Protection Act

Banking and Finance Law, Business Advisory, Corporate & Commercial, Financial Services, Financial Technology (FinTech), Innovation and Technology, Insights, Intellectual Property, Labour and Employment, Media and Entertainment, Startups and MSME Law, Telecommunications, Transportation

On 12 June 2023, the Nigeria Data Protection Act, 2023 (“the Act”) was signed into law by President Bola Ahmed Tinubu. The Act provides a legal framework for the protection…