Our Sectors
Balogun Harold’s Technology & Media lawyers have market-leading experience in the technology and media sectors, advising global media and high-growth tech start-ups doing business in Nigeria.
We act as trusted independent and real-time advisors to technology and media start-ups throughout their entire corporate lifecycle from founder-led business to unicorns and global large-cap public companies. We have advised application software companies, media and internet companies, data & information companies, digital banking & payment companies, industrial tech companies, Fintechs, wealthtech and insurtech companies, systems & deep tech companies, infrastructure software & cyber security companies, retail-tech companies, mobility-tech companies, cloud managed service companies, digital health companies, regtech & suptech companies, amongst others
Fintech Lender not Liable for Breach of Human Rights of Borrower
February 19, 2024Fintech lenders in Nigeria frequently face legal action from their borrowers. Often, these borrowers, who have outstanding debts, initiate court proceedings to stall or avoid repayment altogether. One common claim made by borrowers is that a fintech lender has violated their constitutional rights by involving the Nigerian Police in the debt recovery process. In other cases, a borrower will allege that a fintech lender has violated his/her data privacy rights. In a recent case filed by a borrower against a fintech lender[1], we successfully argued, on behalf of the fintech lender, that the fintech's actions were lawful and did not constitute a violation of the Borrower's constitutional rights.
CBN Issues New Rules for International Money Transfer Firms
February 5, 2024Nigeria'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 foreign direct investments (FDI) markets because there is generally no requirement for repatriation of capital as would be the case with FDI investments. Accordingly, the central regulatory theme in newly released regulations appears to be the need to deepen the remittance market and to reduce the demand for FX locally. Investors in the remittance sector can therefore expect that the relative permanence of remittance capital and the need to deepen the remittance market, will continue to drive the policies of the CBN in the short term.
New Central Banking Regulations for Cryptocurrency Companies in Nigeria
January 3, 2024In a new 2023 Regulation for the Operation of Virtual Asset Providers in Nigeria, issued by Nigeria’s Central Bank, Nigeria has effectively lifted a previous ban that prohibited local Nigerian banks from transacting with or providing business banking services to cryptocurrency companies and virtual asset service providers ("VASPs"). The legal update highlights the categories of cryptocurrency businesses and VASPs that local Nigerian banks are now allowed to transact with as well, as some of the product and compliance considerations that are now applicable to cryptocurrency companies and VASPs operating in Nigeria.
Fintech Lenders: From Unsecured to Secured Lending
November 23, 2023We have a theory. It’s not original but it works: Fintechs and other lenders will significantly diminish loan losses as well as the risk of loan defaults if they take security over the movable assets of a borrower and if...
Why Has the UK Supreme Court Just Decided that Deliveroo Riders are not Employees?
November 21, 2023A new decision of the UK Supreme Court (“UKSC”), delivered today, will have implications for the contractual relationship between tech platforms, gig workers and other key stakeholders ( the “Decision“). The Decision has implications, not just for food delivery platforms...
Raising Money via Securitizations: Key Considerations for Startups
September 28, 2023Contrary to common belief, the financing round following a Series A financing need not be a Series B equity financing. In between one equity financing round and the other, it is often prudent for founders to explore other innovative strategies for raising capital.
Venture Capital Portfolio Roll-Ups Can Refine Exit Strategy in Africa
September 10, 2023Portfolio add-ons and roll-ups are a great way for venture capital funds focused on tech companies in Africa to qualify an existing portfolio for an IPO, grow revenues, lower costs and improve an underperforming portfolio
ChatGPT – Some Legal Considerations for Users
September 4, 2023This legal update summarises some of the legal issues that may arise from the use of ChatGPT. What is ChatGPT? In simple terms, the Chat Generative Pre-trained Transformer (“ChatGPT”) is an artificial intelligence platform that allows users to input content...
Anton Piller Orders – A Powerful Tool to Protect your Intellectual Property
September 4, 2023When an employee or vendor steals your intellectual property or another company monetises your trademarks, patent or intellectual property rights, without your consent, one of the legal strategies that can be used to checkmate such illegal activity is to get an Anton Piller order from the courts