Blog
COVID-19: IMPACT ON CONTRACTUAL PERFORMANCE
In response to the novel COVID-19 outbreak, which has caused extreme turmoil to livelihood and society, governments worldwide have adopted unprecedented measures such as city lockdowns and travel rest...
COVID-19: DECLARATION OF FORCE MAJEURE BY THE DPR: CAN OPERATORS, CONTRACTORS AND SERVICE PROVIDERS IN THE NIGERIAN OIL AND GAS INDUSTRY RELY ON THE SAME?
As part of the collective effort to combat the spread of COVID-19 in Nigeria, different regulatory authorities and bodies have, in line with their statutory functions, introduced measures to be adhere...
BUSINESS CONTINUITY UPDATE
Following the outbreak of the novel coronavirus (COVID-19), we have been monitoring the unfolding situation closely, while being proactive. Although the incidence rate as currently reported in Nigeria...
PRESIDENT BUHARI RESTRICTS THE DOCKING OF CARGO VESSELS AT THE NATION’S PORTS DUE TO COVID-19 PANDEMIC
The President of the Federal Republic of Nigeria, His Excellency, Muhammadu Buhari, addressed the nation on 26th March 2020 concerning the COVID-19 pandemic. During his address, the Presiden...
THE ROLE OF THE INDEPENDENT NON-EXECUTIVE DIRECTOR UNDER THE NIGERIAN CODE OF CORPORATE GOVERNANCE 2018
“Independent Non-Executive Directors bring a high degree of objectivity to the Board for sustaining stakeholder trust and confidence” -Principle 7 of the Nigerian Code of Corporate Gove...
Applicability of Value Added Tax to the Assignment of a Participating Interest in an Oil Prospecting Licence or an Oil Mining Lease
The promulgation of the Finance Act, 2019 has resuscitated familiar tax issues that were previously settled. One of such issues is the applicability of value added tax (“VAT”) to the assignment of...
Coronavirus (COVID-19)
Following the recent outbreak of the coronavirus (COVID-19), ACAS-Law is closely monitoring the unfolding situation while being proactive.Although the incidence rate is minimal in Africa, we are still...
ACAS-Law Advises Interswitch Management on Visa’s Strategic Investment in Interswitch
Interswitch Limited and Visa Inc. have announced the acquisition of a significant minority stake in Interswitch Limited by Visa Inc. Now valued at US$1 Billion, Interswitch Limited is unarguably Niger...
FGN to Amend the PPTA to Remove the Tax Exemption on Dividends Received from Upstream Entities
It is a well-known fact that President Muhammadu Buhari on 4 November 2019 signed into law an amendment to the Deep Offshore and Inland Basin Production Sharing Contract Act Cap D3 LFN 2004 (the ...
Ease of Doing Business in Nigeria: CBN automates the processing of Form ‘NXP’ for Commercial Exports
In previous blog posts[1], we detailed some policies introduced by the Federal Government of Nigeria (the "FGN") (through its agencies such as the National Agency for Food and Drug Administration and ...