Author: Balogun Harold

Our Submission to the Ministry of Industry, Trade & Investment on the Review of the Pioneer Status Incentives as Relates to the Technology Industry

We recently submitted a policy position analysis to the Federal Ministry of Industry, Trade and Investment and the Nigerian Investment Promotion Commission on the need to review the administration of Nigeria’s Pioneer Status Incentives as applicable to the Emerging Growth Segment of the Information & Communications Technology (ICT)  industry. A copy of our submission is Read More

2017 Trends in Data Privacy & Regulation in Nigeria – Practical Considerations for Investors and Technology Companies

We recently provided legal advice to a strategic technology investor on the liabilities under Nigerian law, which a prospective portfolio technology company will be exposed to under the applicable legal framework for data privacy regulation in Nigeria and within the context of possible court action for data privacy breaches. As part of that instruction, we Read More

Here’s How To Qualify for Pioneer Tax Incentives in Nigeria

The Federal Government of Nigeria recently added 27 industries to the Pioneer Industry List. The Pioneer Industry List is a list of industries and products which qualify under Nigerian law for Nigeria’s Pioneer Status Incentives. The Federal Government of Nigeria grants Pioneer Status Incentives to businesses in industries where economic activity is not being undertaken Read More

The ILPA Guidance on Subscription Lines of Credit 2017

The Institutional Limited Partners Association (ILPA) on June 27, 2017 issued the Guidance For Limited Partners on Subscription Lines of Credit used by Private Equity Funds( the ILPA Guidance). The Guidance is significant in view of the increasing calls for greater disclosure and better alignment of interests between institutional investors and General Partners (GPs) with respect Read More

Nigeria’s Central Bank Issues Guidelines to Jumpstart Non-Performing Loans Market.

Nigeria has taken the first strategic step to creating an active distressed debt market locally. This is a significant move in the light of the build-up of non-performing loans (NPLs) in Nigeria’s banking industry. NPLs in Nigeria’s banking sector have now crossed the N2 trillion mark and are still on an upward trajectory. The International Read More

Nigeria’s $1M Venture Capital Fund For its Creative Industry: Some Practical Considerations

We commend the Federal Ministry of Information, Culture and Tourism and its partners for successfully organising the maiden edition of the Creative Nigeria Summit. The Creative Nigeria Summit is a bold step in thought leadership and industry engagement around some of the key issues affecting Nigeria’s creative industry. Perhaps, more exciting are the policy direction Read More

Offshore HoldCos as Investment Vehicles for Technology Start-Ups in Nigeria – Some Practical Considerations for Tech Founders and VC

Delaware flips are now increasingly common locally. We estimate that up to 70% of the tech start-ups that have raised seed financing or looking to raise seed financing in Nigeria have had to incorporate offshore holding companies (HoldCos) in Delaware, Mauritius or other jurisdictions considered to be investor-friendly[1]. This statistic is evidence of a prevalent Read More