Nigeria: Compliance

The classification of workers as either independent contractors or employees is one of the most consequential legal determinations a foreign company operating in Nigeria must make.

The Central Bank of Nigeria's Fourth Edition of the Foreign Exchange Manual introduces sweeping changes to currency and trade regulations, raising import payment thresholds, increasing tuition remittance limits...

The Pan-African Payment and Settlement System (PAPSS) represents a transformative infrastructure for cross-border payments across Africa, enabling instant transactions in local currencies without relying on intermediary Western currencies. This comprehensive analysis explores how PAPSS operates through its three core processes of instant payment, pre-funding, and net settlement, while examining Nigeria's regulatory framework and the system's critical role in advancing the African Continental Free Trade Area

Nigeria's data protection landscape has fundamentally shifted with the enactment of the Nigeria Data Protection Act 2023 and the General Application and Implementation Directive 2025. This article examines the legal architecture governing cross-border data transfers, identifies critical compliance obligations for international technology transactions, and demonstrates how well-structured data compliance can serve as a competitive advantage in one of Africa's most dynamic digital markets.

The Nigerian Communications Commission has published Draft Business Rules establishing a comprehensive regulatory framework for Mobile Virtual Network Operators (MVNOs), introducing structured onboarding processes, commercial agreement requirements, and dispute resolution mechanisms.

Nigeria's Securities and Exchange Commission has introduced revised minimum capital requirements for capital market operators, creating new compliance obligations and potential penalties for firms operating in the securities industry. This regulatory update affects various market participants including broker-dealers, investment advisers, and other licensed entities who must now assess their capital adequacy and plan for compliance within specified timelines.

Nigeria's Revenue Service has launched Rev360, a fully digital tax administration platform replacing TaxProMax.

The Nigerian Upstream Petroleum Regulatory Commission has issued new Decommissioning and Abandonment Regulations 2026, fundamentally reshaping Nigeria's upstream petroleum decommissioning framework.

The recent public warning issued by the Federal Competition and Consumer Protection Commission (FCCPC) is a reminder that merger notification in Nigeria is not a mere procedural formality, but a substantive legal...