Blog
NERC Issues Consultation Paper on the Capping of Estimated Billing
In order to address complaints received from electricity consumers in respect of the concerns surrounding the system of estimated billing with a view to implementing an equitable billing methodology, ...
Introduction of Mortgage Guarantee Companies in Nigeria
In furtherance of the objectives of the Central Bank of Nigeria (the “CBN”) to promote affordable financing and a sound financial system in Nigeria, the CBN recently released an Exposure Dra...
Entire Agreement Clause as a Defence Against Liability for Misrepresentation
The purpose of an entire agreement clause (EAC) is to convey in an unequivocal manner that the written contract in which it is incorporated, sets out the entire decision of the parties, so that either...
Supreme Court orders the Federal Government to Review Fiscal Terms under Production Sharing Contracts
On Wednesday 17th October 2018, a seven-man panel of the Supreme Court led by the Chief Justice of Nigeria, Justice Walter Onnoghen ordered the Federal Government of Nigeria (“FGN”) to revisit the...
The President Directs the Immediate Implementation of Executive Order No.6 of 2018
The President of the Federal Republic of Nigeria on Saturday 13th October 2018 directed the Attorney-General of the Federation to commence the implementation of Executive Order No.6, which was signed ...
Federal Government Cuts Cost of Business Name Registration by 50%
The Vice-President of Nigeria recently announced the Federal Government’s (“FG”) approval of a 90-day special window commencing from 1st October 2018 to 31st December 2018 for the registration o...
Protecting your Intellectual Property Rights - The Versace Example!
Versace, the Italian fashion house, was purchased by Michael Kors in September 2018, for $2.2 billion, despite suffering a loss in 2016, which was the year the offer and negotiations for its sale begu...
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Highlights Of The Meter Asset Provider Regulations, 2018
Electricity metering and attendant collection losses are well-known prevalent problems in the Nigerian Power Sector (the “Sector”). Despite the launch of the Credit Advance Payment for Metering Im...
NEITI to Unveil a Comprehensive Register of Beneficial Owners of Oil and Gas and Mining Companies in Nigeria
The Nigeria Extractive Industries Transparency Initiative (“NEITI”) recently stated that a comprehensive register of beneficial owners of oil, gas and mining companies is set to be unveiled in Dec...
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TAX EVASION: PRESIDENT BUHARI SIGNS NEW EXECUTIVE ORDER
President Muhammadu Buhari on 8 October 2018 signed a new executive order (“Order”), Voluntary Offshore Assets Regularization Scheme (“VOARS”), meant to target money launderers and tax evaders...