Nigeria: Financial Services

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Finance law and banking law thought leadership, articles, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics such as capital adequacy, BASEL, acquisition finance, debt capital markets, fund finance, islamic finance, securitization and structured finance.
Article
Presidential Executive Order Boosts Virtual Assets Regulation In Nigeria
President Bola Ahmed Tinubu has signed a Presidential Executive Order establishing Nigeria's first coordinated national framework for virtual assets regulation. The Order creates a Virtual Asset Council comprising the CBN, SEC, NRS, NFIU and ONSA to harmonize oversight, clarify regulatory responsibilities, and eliminate fragmented supervision across digital asset activities. How will this institutional restructuring impact VASPs, market participants, and the broader Nigerian digital assets ecosystem?
Nigeria Finance
BI
Banwo & Ighodalo
Article
The Limited Rights Of A Garnishee In Garnishee Proceedings: A Brief Review Of The Case Of Access Bank Plc vs. Emmanuel Ikpon
One of the challenges encountered while trying to enforce monetary judgments in Nigeria by way of garnishee proceedings is that often, garnishee banks feel obligated to stonewall the judgment enforcement process by asserting certain rights or interests over judgment sums standing in the credit of judgment debtors in their custody.
Nigeria Litigation
OA
Odujinrin & Adefulu
Article
CBN’s Data Localisation Mandate: What Nigerian Fintechs Need To Know
Nigeria's Central Bank has issued a sweeping directive requiring all payment and financial transaction data generated within the country to be processed and stored locally by January 2027. This regulatory shift forces fintech companies to abandon their reliance on global cloud platforms like AWS and Azure, introducing significant operational costs, infrastructure risks, and compliance complexities. The mandate affects not only licensed financial institutions but extends throughout the entire fintech ecosyst
Nigeria Finance
TA
Tope Adebayo LP
Article
CBN’S Data Localisation Directive – Compliance Considerations For Payment System Participants
Nigeria's Central Bank has introduced sweeping data localisation requirements that will fundamentally reshape how payment service providers, banks, and financial institutions handle transaction data. With a January 2027 compliance deadline, these new rules mandate that all payment transaction data generated within Nigeria must be stored and managed locally, raising critical questions about cloud infrastructure, vendor relationships, and operational readiness. This analysis examines the scope of the requirem
Nigeria Finance
PL
Pavestones Legal
Article
Politically Exposed Persons In Nigeria: Who Qualifies And What Companies Need To Know
Understanding the regulatory framework surrounding Politically Exposed Persons (PEPs) is crucial for companies operating in Nigeria's financial and business sectors. This publication examines the legal definition of PEPs under Nigerian law, identifies who qualifies for this designation, and outlines the enhanced due diligence obligations that financial institutions and businesses must implement when dealing with these high-risk individuals.
Nigeria Government
AP
Advocaat Law Practice
Article
Central Bank Of Nigeria: Revised Guidelines For Licensing And Regulation Of Financial Holding Companies In Nigeria
On 10 June 2026, the Central Bank of Nigeria ("CBN") released an Exposure Draft of the Revised Guidelines for Licensing and Regulation of Financial Holding Companies in Nigeria (the "Guidelines"). The proposed Guidelines are aimed at strengthening the regulatory framework governing Financial Holding Companies ("FHCs"), addressing governance and operational issues that have emerged under the current regime, and promoting greater consistency in the supervision of banking groups and financial conglomerates.
Nigeria Finance
Syntegral Legal Practice
Article
SEC’s Guidelines On Revised Minimum Capital Requirements For Capital Market Operators
Nigeria's Securities and Exchange Commission has introduced new capital adequacy rules for fund managers and private capital participants, establishing tiered minimum capital requirements based on assets under management. The guidelines clarify what constitutes qualifying capital, outline compliance pathways including cash injection and securities transfer, and set a June 2027 deadline for full implementation.
Nigeria Finance
UU
Udo Udoma & Belo-Osagie
Article
The Quincecare Duty And Its Implications In The Fintech Era
As financial technology reshapes how consumers and businesses manage money, a century-old banking duty is gaining new relevance. The Quincecare duty requires financial institutions to pause suspicious payment instructions—but how does this obligation apply when traditional banks serve merely as infrastructure beneath fintech platforms? This analysis explores the duty's evolution from English case law through its modern application in layered payment systems.
Nigeria Finance
GE
G ELIAS
Article
Regulatory Update: Introduction Of Nigerian Overnight Financing Rate: Implications For Pricing, Risk And Documentation In Nigeria's Money Market Transactions
NOFR is a transaction-based reference rate derived from actual overnight secured funding trades, specifically NGN-denominated repurchase (“REPO”) transactions with a minimum size of NGN 5 billion (five billion Naira), between eligible financial institutions, reflecting current liquidity conditions in Nigeria’s interbank market
Nigeria Finance
UU
Udo Udoma & Belo-Osagie
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