Ease of doing business: The implications of Lekoil v. Ministry of Petroleum Resources
The Federal High Court, recently ruled that an indigenous oil exploration company could not deem the consent of the Minister of Petroleum Resources (the Consent) granted on default as recommended by the Executive Order One (EO1) signed in May 2017 by the Presidency.
Nigerian Senate passes a bill for amendment of the Deep Offshore and Inland Basin Production Sharing Contract Act, 2004
The Nigerian Senate recently passed the Deep Offshore and Inland Basin Production Sharing Contract Act 2004 (Amendment) Bill, 2019 (the Bill).
The Bill which will amend the provisions of the Deep Offshore and Inland Basin Production Sharing Contract Act 2004 (DOIBPSCA or the Act), when passed by the House of Representatives, and after the President’s assent, aims to shore up Nigeria’s revenue earnings.
Analysis of the Federal Government’s 2020 Budget Proposal
On Tuesday, 8 October 2019, President Muhammadu Buhari presented the proposed 2020 budget of the Federal Government of Nigeria to the joint session of the National Assembly (NASS), wherein he also itemised the policy thrust of FGN.
Companies in Nigeria to pay Police Trust Fund Levy of 0.005% of net profits
The Federal Government of Nigeria (FGN), recently made public the Nigeria Police Trust Fund (Establishment) Act, 2019 (The Act), which was signed into law on 24 June 2019 and will be in force for period of six years.
Tax Appeal Tribunal delivers landmark ruling against Abia State Board of Internal Revenue
The Tax Appeal Tribunal on 21 August 2019, in the case between Polaris Bank PLC (the Appellant) V. Abia State Board of Internal Revenue (the Respondent), affirmed that statutorily stipulated procedures must be followed before a tax liability determined from an audit exercise becomes payable by a taxpayer.
Career Opportunities for Cyber Security Professionals
Are you ready to join a team of Cyber Security professionals that are making an impact by advising clients on how to manage their cyber risk exposures in an inter-connected world?
Nigeria to sign agreement establishing the African Continental Free Trade Area
The Federal Government of Nigeria has indicated its intent to sign the agreement establishing the African Continental Free Trade Area (AfCFTA) at the 12th Extraordinary Summit of the African Union slated for 7 July 2019.
Federal Executive Council approves new import levy
The Federal Executive Council (FEC) has approved a new 0.2% import levy on eligible imports from African Union (AU) Member States.
Mergers and acquisitions now under the joint purview of SEC and FCCPC…till further notice
SEC and FCCPC recently issued joint guidance on submission of notifications for proposed mergers, acquisitions and other business combination notifications