Why Do I Need a Legal Opinion & Why is My Series A Investor Asking For One?
If you are raising a Series A Financing (or any priced equity around), US venture capital firms will typically ask you to provide a legal opinion, as one of the closing conditions for a venture capital financing.
Avoiding Permanent Establishment Risk – Nigeria’s New Dependent Agents Rule
Presidential Order 5 has thrown up an array of contracting structures between local promoters and foreign OEMs and partners looking to bid for government contracts. These contractual arrangements are increasingly subject of litigation both from a taxation point of view...
Nigeria’s Proposed Internet & Social Media Regulation: Key Takeways
Nigeria has recently published a draft of its proposed social media laws. There are important thematic similarities between Nigeria’s social media laws and the proposed H.B. 20 in Texas, the European Digital Services Act, the UK Online Safety Bill and...
Why is the Nigerian SEC Regulating Digital Assets? What Do Fintechs Need to Know?
The Securities & Exchange Commission (the “SEC”) has an inherent economic role of facilitating capital formation, meaning, from an economic standpoint, the SEC is also partly responsible for finding and regulating new and innovative ways by which members of the...
Closing Technology Mergers & Acquisitions in Nigeria
Acquiring high-growth technology companies in Africa presents an opportunity for scale-ups and strategic investors to acquire more customers, increase revenue and also become more attractive to trade buyers or public markets. Our work with firms in the tech industry...
New Rules for Operating a Fintech in Nigeria
Between 2020 & 2021, the Central Bank of Nigeria (CBN) made significant changes to the legal and regulatory framework around the establishment and operation of Fintech companies in Nigeria. While a wave of reactions have trailed the recent changes by...
Buy Now Pay Later Offerings in Nigeria: Some Market Entry Considerations (Nigeria)
Africa presents an interesting proposition for point-of-sale financings commonly referred to as Buy Now Pay Later financing (BNPL). However, there are ..
Registering a Nigerian Venture Fund: Some Key Issues
Nigeria’s venture capital rules do not appear to have been designed to attract modern venture capital. That’s concerning because venture capital fund managers perform an ..
Twitter Suspension in Nigeria: Some Key Policy & Legal Considerations for Web Platforms
Nigeria has no legal or regulatory construct similar to Section 230 (c) (1) & (2)[1]. The implication is that, providers of interactive computer services (“Platforms”) will likely be treated by ..
Six Operational & Time-Critical Takeaways From Nigeria’s Open Banking Regulations
Nigeria’s Central Bank deserves some commendation for publishing a well thought-out Open Banking Framework. Here are 6 (six) compliance/operational and time-critical takeaways from CBN’s new Open Banking Regulations, for Nigerian Fintechs and Financial Institutions. The Open Banking Regulations does not...