On 18 March 2019, the Central Bank of Nigeria (“CBN”) published a circular dated 07 March 2019 to all microfinance banks in Nigeria (“MfBs”) titled, “Review of Minimum Capital Requirement for Microfinance Banks in Nigeria’’ (“Revised Circular”). The Revised Circular seeks to revise the minimum capital requirement for all MfBs on which it had earlier issued a circular on 22 October 2018.
Continue reading “CBN Issues Circular Reviewing The Minimum Capital Requirement For Microfinance Banks In Nigeria”
With the conclusion of the 2019 Nigeria presidential election which has yielded another 4 years to President Muhammadu Buhari, all attention has been turned to the Governorship elections which are scheduled to hold on 09 March 2019 following the postponement of same by the Independent National Electoral Commission from 02 March 2019 when it was previously Continue reading “APPLICABLE SANCTIONS FOR THE OFFENCE OF SNATCHING BALLOT BOXES UNDER THE ELECTORAL ACT”
In Nigeria, there was a void in the corporate sector due to the absence of a comprehensive legislation in corporate governance regime. However, this absence was mitigated for by sector-specific corporate codes issued by their respective regulators to address this challenge. In order to consolidate the various codes of different sectors and establish a unified corporate governance framework, the Financial Reporting Council of Nigeria (“FRCN”), released the National Code of Corporate Governance 2016. However this was suspended as there were questions relating to its legality and how it may negatively impact the ease of doing business in Nigeria.
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The President of the Federal Republic of Nigeria on Wednesday, 06 February 2019, assented to the Federal Competition and Consumer Protection Bill, now Federal Competition and Consumer Protection Act 2019 (“The Act”). By the passage of the Act, the Federal Government has demonstrated commitment towards the welfare of consumers and the citizens at large. Continue reading “President Muhammadu Buhari Assents to the Federal Competition and Consumer Protection Bill”
On 02 February, 2019, our Managing Partner, Mrs. Mfon Ekong Usoro, ran the 3rd Annual Access Bank 10km Lagos City Marathon race to create awareness for clean oceans and the need to recycle plastics. Continue reading “Access Bank Lagos City Marathon- Creating Awareness for Clean Oceans”
On 25 January 2019, the Nigerian President, Muhammadu Buhari, signed the Executive Order 007 on Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme (the “Scheme”). The Scheme is aimed at closing the gap in the infrastructural deficit plaguing the country, particularly in the road transport sector. Continue reading “President Muhammadu Buhari Signs The Executive Order 007 OF 2019”
Recently, our Senior Partner, Paul Usoro SAN, was discussing with stakeholders in the telecoms industry, on “Optimising Telecoms Infrastructure in Nigeria”, in a sensitisation program organised by the Nigerian Continue reading “Legal Framework for Telecommunications Infrastructure Rollout – Paul Usoro, SAN”
Mfon Usoro with the Secretary General of International Maritime Organization, Mr Kitack Lim, at the ongoing International Maritime Organization Conference on Sustainable Blue Economy, in Nairobi, Kenya. Continue reading “Mrs. Mfon Usoro at the IMO Side Event Conference on Sustainable Blue Economy”
The Managing Partner of Paul Usoro & Co., Mrs. Mfon Usoro, in her capacity as the Secretary General, Abuja Memorandum of Understanding on Port State Control will be speaking at the International Maritime Organization Conference on Sustainable Blue Economy (the “Conference”) holding from 26 – 28 November 2018 at Nairobi, Kenya. Continue reading “Mrs. Mfon Usoro is featured to speak at the IMO Side Event Conference on Sustainable Blue Economy”