Balogun Harold - Leading Commercial &amp; Corporate Law Firm

Commercial Satellite Operations in Nigeria - Key Considerations for Nigeria Market Entry

The 2015 NASRDA Regulations on Licensing and Supervision of Space Activities establishes general licensing requirements for any “space activity” conducted by Nigerian or foreign operators

November 25, 2025

End User Certificates in Nigeria – Key Considerations for Importers of Controlled Goods

The end user certificate framework applies to a range of controlled goods, including military hardware, parts and components, security-sensitive equipment, and specific chemicals.

November 24, 2025

Explainer

Agency Banking in Nigeria - the Fintech Play

Fintechs aiming to operate in Nigeria’s agency banking space typically obtain a microfinance banking license, though even fintechs without a banking license can participate as super-agents for a principal bank

November 22, 2025

Agency Banking vs. Deposit-Banking: Key Considerations for Fintechs

As agency banking continues to expand financial access in Nigeria, a common misconception is that a fintech must obtain a deposit-taking banking licence, often in the form of a microfinance bank (MFB) licence, to fully tap the opportunities in agency banking. In reality, this licensing strategy may not only be unnecessary, but often strategically counterproductive. We highlight a number of considerations below.

November 22, 2025

The New CBN Agency Banking Regulations - Key Considerations for Venture-Backed Fintechs

The new CBN Agency Banking Regulations represent a major regulatory development that warrants more than just an investor update. In our view, the new CBN Agency Banking Regulations should prompt a strategic conversation at the board level between venture capital investors and their fintech founders

November 22, 2025

Neobanks in Nigeria: Key Considerations for Market Entry - Part I

Neobanks are digital-first financial platforms offering a variety of services, ranging from multi-currency accounts and payments to cards and investing solutions. Neobanks are undoubtedly reshaping global banking and for global Neobanks considering expansion into Africa, Nigeria presents a particularly compelling opportunity

November 10, 2025

Neobanks in Nigeria: Key Considerations for Market Entry - Part II

In Part 2 of our Neobanking Series, we will focus on some of the key legal and regulatory considerations governing market entry, licensing, and operational compliance

November 10, 2025

Stream Financing in Nigeria: An Alternative Financing Strategy for Mineral Title Holders

Stream financing is a form of alternative financing whereby an investor or “streamer” provides upfront capital in exchange for a contractual right to purchase a portion of future mineral production, typically at a discounted price.

November 9, 2025

Could Centralizing the Management of Nigeria's Sectoral Funds Unlock Greater Impact?

A centralized management framework, coordinated through a financially disciplined entity such as the Nigerian Sovereign Investment Authority or the Federal Inland Revenue Service, could enhance the effectiveness of sector fund allocation, allow for co-ordinated allocation across sectors, while preserving sector-specific oversight.

November 8, 2025

Mining Mergers and Acquisitions in Nigeria: Key Legal Considerations for Foreign Investors

This pattern of dormant and inactive mineral titles suggests that many existing promoters may be constrained by limited access to capital, technical expertise, or strategic partnerships necessary to advance projects beyond the licensing stage.

November 7, 2025

SEC Issues Interpretive Guidance on Amended Private Equity Fund Rules

The SEC’s interpretive guidance and amendments aim to streamline compliance for smaller private equity funds, and enhance transparency on fees and governance. Fund managers and sponsors should review their internal policies to ensure consistency with the updated requirements, particularly regarding the ₦5 billion registration threshold, proprietary investment obligations, and fee disclosures.

November 5, 2025

Explainer

Obtaining a Startup Label Under the Nigeria Startup Act, 2022

The distinction between a startup and a scale-up may become critical for for eligibility because a “labelled startup” is defined to mean a startup labelled under this Act and issued a digital certificate. Subject to further clarification from the NITDA, it would appear that the regulatory intent is to exclude scale-ups from obtaining a start-up label under the Nigeria Startup Act.

November 4, 2025

Tax Incentives for Venture Capital and Angel Investors in Nigeria.

Other than fund domicile, perhaps the most important consideration when setting up a venture capital fund in Nigeria is tax planning and tax leakage avoidance.This article highlights two of some of the key tax incentives available to venture capital investors in Nigeria and some practical considerations for venture capital fund structuring.

November 4, 2025

Minimum KYC Requirements for Opening Bank Accounts for Nigerian Entities Offshore

Notwithstanding the removal of Nigeria from the FATF Grey List, foreign banks are still required to conduct full KYC and AML/CFT checks for Nigerian clients, as these obligations remain mandatory under global banking regulations. This article provides some local intel for foreign banks on the minimum requirements for safely and efficiently onboarding Nigerian clients while maintaining compliance with international AML/CFT standards.

October 30, 2025

Defence & Security Financing in Nigeria: Recent Developments

The establishment of the Defence and Security Infrastructure Fund represents a significant step towards strengthening Nigeria’s security architecture

October 29, 2025

New Capital Gains Tax Rules for Nigerian M&A Transactions

While gains on the disposal of shares in Nigerian companies are generally chargeable, the Nigeria Tax Act introduces important exemptions designed to encourage investment and capital market activity.

October 29, 2025

Should In-Person or Banking Hall Verification Still Be Mandatory for Bank Accounts in Nigeria?

Nigeria now operates the Bank Verification Number (BVN) and the National Identification Number (NIN), national digital identity databases containing biometric and demographic data. With these systems, banks can reliably authenticate customers remotely, making mandatory physical presence largely redundant. It is useful to note that the CBN has now extended the requirement for all account holders ( including Tier-1 accounts) to link their accounts to BVN and/or NIN.

October 22, 2025

Taxation of Non-Residents in Nigeria

The Nigeria Tax Act 2025 has clarified and expanded the legal basis for the taxation of non-residents in Nigeria. Under the Act, non-resident persons can now be taxed under four broad categories: Capital Gains, Profits, Consumption of Imported Services, and Premiums/Nigerian Source Income. We discuss these broad categories below.

October 21, 2025

Explainer

Permanent Establishment in Nigeria

The Nigeria Tax Act 2025 has clarified and expanded the legal definition of permanent establishment and the rules regarding the attribution of income and profits to a permanent establishment. Under the Nigeria Tax Act 2025, a permanent establishment is the taxable presence of a non-resident person in Nigeria.

October 14, 2025

When Should Liability Caps Be Applied – Before or after Set-Off ?

Technology contracts frequently include liability caps. For example, a technology vendor might agree that “no more than 12 months’ fees” can be claimed. But complications often arise when both parties have contractual claims against each other. Should the parties set off their claims first and then apply the liability cap to the net amount? Or should the cap bite on each party’s liability separately, with set-off only after the cap has reduced one side’s claim?

September 30, 2025