Pre-Series Financing: Key Insights for Founders
We find that some startups attach the “Pre-” label to a funding round because they didn’t secure the full target amount or feel the amount raised doesn’t align with what’s typically associated with that stage. But what does it really...
Regulating Online Trust & Safety in Nigeria: An Overview
In Nigeria, the regulatory landscape surrounding online trust and safety is anchored primarily in the Code of Practice for Interactive Computer Service Platforms & Internet Intermediaries (the “Code”). This framework defines the rules that digital platforms must follow, with specific...
How VCs Support Start-Ups Post-Investment
It’s often overlooked but venture capital is more than just a financial investment—it’s a partnership that fuels growth. Beyond the cash infusion, VCs provide critical post-investment management support to help startups achieve critical product and revenue milestones. So, what should...
Intermediary Liability: Legal Considerations for Tech Platforms in Nigeria
Intermediary liability, as a legal and policy concern, raises the question: To what extent should tech platforms bear financial or criminal responsibility for the online actions or omissions of their users? As digital platforms continue to reshape industries and societies,...
Software as a Service in Nigeria: Some Commercial Issues
When global companies offer Software as a Service (SaaS) in Nigeria, they encounter distinct commercial challenges shaped by the country’s unique legal, economic, and business landscape. From navigating regulatory compliance and overcoming payment barriers to addressing data protection requirements and...
Social Media Handles & Data Privacy Rights of Bank Customers
In a recent judgment, a Nigerian Court upheld a new central banking regulation requiring banks to collect customers' social media account details as part of standard Know Your Customer (KYC) process. Additionally, the Court offered some side remarks on the...
Some Compliance Learnings from FCCPC’s $220 million fine on Meta
Until FCCPC's Decision imposing a $220m fine on Meta has been successfully appealed, the legal principles enumerated in the decision as well as the conclusions reached therein are generally legally binding on businesses operating in Nigeria. Without a doubt, the...
Key Competition Law Considerations for SaaS Suppliers and SaaS Resellers in Nigeria
A growing area of regulatory risk for SaaS resellers and SaaS suppliers involves the requirement and enforcement of resale price maintenance in SaaS Agreements. Under Nigerian competition law (the “FCCP Act”), contractual clauses which stipulate the price which any goods...
FCCPC fines Meta Platforms Inc & Whatsapp LLC $220 million
The FCCPC’s decision (the "Decision") to impose a $220,000,000 fine (the "Fine") on WhatsApp LLC ("WhatsApp") and Meta Platforms Inc. ("Meta") warrants an appellate review due to its unprecedented nature. This Decision affirms the powers of a competition regulator to...
CBN Issues New Rules for International Money Transfer Firms
Nigeria's Central Bank ( the "CBN") is intensifying its efforts to safeguard the Naira from ongoing devaluation pressures. A key battleground in this mission is the international money transfer and remittance sector. This sector is particularly strategic compared to the...
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