Nigeria: Financial Services

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 has emerged as a leading destination for private equity and venture capital in Africa, with $3 billion invested across 404 transactions between 2020 and 2024. The newly enacted Investments and Securities Act 2025 introduces comprehensive regulatory oversight for PE and VC funds, bringing enhanced investor protection, stricter compliance requirements, and clearer operational frameworks to this rapidly evolving market.

A recurring question in Nigerian real estate practice is whether a seller of land can lawfully accept cash payment from a buyer for the transfer of property. For decades, many Nigerians...

This document provides a comprehensive overview of regulatory guidelines, letters, circulars, and notifications issued by Nigerian financial and regulatory authorities during May 2026. The compilation offers legal practitioners and financial institutions insight into the latest compliance requirements and regulatory developments affecting the Nigerian financial sector.

When Kinder Morgan grew from a $40 million asset purchase into North America's largest midstream energy company, the financial structure that fueled its success quietly became its greatest constraint.

Foreign investment depends heavily on the ability to repatriate profits and capital, yet government-imposed foreign exchange controls can significantly restrict these transfers.

Fidelity Bank faced a significant challenge when Envivo Communications Limited failed to repay a ₦1.7 billion loan. Through precise legal action under Nigeria's Companies and Allied Matters Act (CAMA) 2020, winding-up proceedings were initiated with meticulous procedural compliance. The court's decisive ruling resulted in a complete winding-up order and the appointment of a liquidator to recover the outstanding debt.

The Central Bank of Nigeria's new rule limiting BVN-linked phone number changes to just once raises critical questions about balancing financial security with data subject rights. As phone numbers serve as essential authentication tools yet remain inherently changeable due to theft, loss, or compromise, this regulatory restriction may conflict with statutory rectification rights under data protection law.