RECAP OF MAJOR DATA PRIVACY AND PROTECTION TRENDS IN NIGERIA IN 2023 & OUTLOOK FOR 2024 As data privacy and protection evolves around the world, Nigeria witnessed its fair share of data privacy and protection innovations in 2023. In this edition of our data privacy and protection newsletter, we have summarized the major events for […]
NIGERIA DATA PROTECTION COMMISSION (NDPC) COMPLIANCE AUDIT RETURNS (“CARs”) GUIDANCE NOTICE ALERT The Nigeria Data Protection Commission (NDPC) in November 2023, published a Guidance Notice concerning annual Data Protection Compliance Audit Returns. The filing of Annual Data Protection Compliance Audit Returns is an obligation for data controllers and processors under the Nigeria Data Protection Regulation […]
CROSS BORDER DATA TRANSFER: NAVIGATING COMPLIANCE UNDER NIGERIA’S DATA PROTECTION ACT 2023 It is without peradventure that the nature of technology use has occasioned a near borderless global society as personal data flows in trillions of bytes across borders. The recently enacted Nigeria Data Protection Act (the Act) 2023, occasioned a modification of the data […]
NON-FUNGIBLE TOKENS (NFTS) AND TRADEMARK INFRINGEMENT: REAL-WORLD IP RIGHTS IN THE VIRTUAL SPACE: ART, TECHNOLOGY, AND THE LAW? From the Bored Apes collection to Jack Dorsey’s auctioned Non-Fungible Tokens (NFT) of his first-ever tweet, “just setting up my twttr”, which sold for over US$2.9 million, the creation and sale of NFTs is one that took […]
CategoriesFirm Update NewsINVESTMENT GUIDE: DOING BUSINESS IN NIGERIA With immense growth in technology and globalization, cross-border investments have taken prime positions in global economies. As a developing country with immeasurable growth potential, Nigeria ranks as the largest oil producer in Africa and the 11th largest oil producer in the world. Aside from available oil and gas reserves, […]
CategoriesLawNOTABLE DIFFERENCES BETWEEN THE COPYRIGHT ACT CAP C28 LFN 2004 AND THE COPYRIGHT ACT AS AMENDED The Copyright Act, 2004 was first enacted in 1988 to make provisions, inter alia, for the protection of creative works and the remedy and penalty for the infringement thereof. Sequel to the phenomenal growth in the creative industry, it […]
CategoriesTaxThe Senate and the House of Representatives have passed the Finance Bill 2022 Background The National Assembly passed the Finance Bill 2022 (“the Finance Bill”) on 28 December 2022. The Finance Bill introduces certain amendments to existing tax laws including the Companies Income Tax Act (CITA), Customs, Excise Tariff, etc. (Consolidation) Act, Personal Income Tax […]
CategoriesLegalIn furtherance of the CBN’s objective to deepen financial inclusion in Nigeria, the apex financial regulator has invited innovators to submit their expression of interest to participate in its Regulatory Sandbox (the “Sandbox”) in accordance with its Framework for Regulatory Sandbox Operations before the 1st of February 2023. Application is via the link https://sandbox.cbn.gov.ng/ The […]
CategoriesTaxThe Federal Inland Revenue Service (FIRS) Appoints MTN, Airtel and Banks as VAT Collection Agents The Federal Inland Revenue Service (FIRS) Appoints MTN, Airtel and Banks as VAT Collection Agents The FIRS has issued a Public Notice (the “Notice”) appointing MTN, Airtel and all money deposit Banks (as defined in the Central Bank of Nigeria […]
