LATEST NEWS

Legal Update: Schools & other Educational Institutions May Now Be Subject to Corporate Taxes in Nigeria

There is now a new legal development in Nigeria’s education sector that further pushes the envelope on the question as to whether schools in Nigeria are subject to corporate taxation. The new development races towards the conclusion that schools of a certain character and/or structure must be subject to corporate taxes like every other company....

Nigeria’s New Road Infrastructure Credit Regime

The Federal Republic of Nigeria has authorised a new Road Infrastructure Credit Regime for private companies, special purpose infrastructure funds and institutional investors (Target Firms).  With the new regime, Target Firms who deploy own funds to construct or refurbish “Eligible Roads” across the six geo-political zones of the country will be entitled to deduct the...

New DPR Gas Flare Commercialization Guidelines

Nigeria’s Department of Petroleum Resources (DPR) have recently issued follow up guidelines to the  2018 Flare Gas (Prevention of Waste and Pollution Regulations) earlier issued by the Minister of Petroleum Resources The new guidelines make specific provisioning for measurement of gas flare data, gas flare payments and associated gas projects. The new guidelines are accessible...

Public Notice From the SEC to CMOs in Nigeria’s Capital Market on Fidelity Bonds

The Securities & Exchange Commission (SEC) recently directed all registered Capital Market Operators  (CMOs) to update their statutory annual Fidelity Bond Filings and/or Professional Indemnity Insurance Policy Filings (Fidelity Filings). By virtue of Rule 27 (1) of SEC Rules and Regulations, (made pursuant to the Investments and Securities Act, 2007) every Registered CMO is required...