On 19th October 2022, the Nigerian Startup Act, 2022 (the “NSA”) was signed by the President of the Federal Republic of Nigeria. Amongst other things, the NSA provides for the creation and development of an enabling environment for technology-enabled startups in Nigeria. In this article, we feature the highlights of the NSA, and how it …
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On 26th August 2022, the Federal Competition and Consumer Protection Commission (“FCCPC”) issued the “Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending 2022” (the “Guideline”). It was, indeed, issued pursuant to the powers of the FCCPC under sections 17, 18, and 163 of the Federal Competition and Consumer Protection Act, 2018 (“FCCPA”) – that …
In exercise of its powers under the Central Bank of Nigeria Act, (“CBN”) issued the Guidelines for Licensing and Regulation of Payments Service Holding Companies in Nigeria (the “Guidelines”). This is a follow up to the approved new licence categorizations for participants in the payments system, issued by the CBN on 24 May 2021 which …
On the 24th day of May 2021, the Central Bank of Nigeria (“CBN”) issued a circular which consolidated the requirements for obtaining licences for payments system services in Nigeria (the “New Regime”). Prior to the issuance of the New Regime, the CBN had in December 2020 issued a circular which categorized payment systems licences into …
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