Blog
Bridging the Funding Gap in the Creative Industry
In an effort to bridge the funding gap in the creative industry and also boost job creation, the Central Bank of Nigeria in collaboration with the Banker’s Committee recently introduced a Creative I...
FGN Reels Out Plans to Decentralise MCO
The Federal Government of Nigeria (“FGN”) has announced a proposed decentralisation of the Nigeria Mining Cadastre Office (“MCO”) for ease of operations. This was disclosed by the Minister of ...
FIRS, CBN to track VAT paid by foreign entities
The Federal Inland Revenue Service (“FIRS”) is seeking the support of the Central Bank of Nigeria to track the payment of Value Added Tax (“VAT”) made electronically by foreign entities that a...
Inflation rate falls according to the National Bureau of Statistics
The National Bureau of Statistics (NBS) on Tuesday released the Consumer Price Index (CPI), which measures inflation. The CPI showed that the index had dropped to 11.25 per cent (year-on-year) in Marc...
THE COMPANY SECRETARY AND THE ANNUAL RETURN
Every company registered in Nigeria is required to file its annual returns with the Corporate Affairs Commission (“CAC”) once a year[1]. The annual return form is required to be filed within forty...
FGN issues new Back-In Regulations.
The Federal Government of Nigeria (“FGN”) has issued new regulations titled: Oil Block Allocations to Companies (Back-in-Rights) Regulations, 2019 (the “New Back-in Regulations”). The New Back...
CBN ADDS TEXTILES TO LIST OF ITEMS NOT ELIGIBLE FOR FOREX
The Central Bank of Nigeria (CBN) has added all forms of textiles to the list of items not valid for foreign exchange (Forex) from the official window. It is intended that the restriction w...
Nigerian minister updates APPO Cape VII on the progress of legal reform
Nigeria’s Minister of State for Petroleum provided an update at African Petroleum Producers Organization (APPO) Cape VII congress and exhibition last week concerning the progress of the Petroleum In...
NCDMB Finalised the Nigerian Content Ministerial Regulations with Stakeholders
The Nigerian Content Development and Monitoring Board (“NCDMB”) recently disclosed that it has concluded its engagements with stakeholders in the Nigerian oil and gas industry (the “Industry”)...
Nigerian Refinery acquires Africa's First ISO 9001:2015 Certification
Port-Harcourt Refining Company Limited (“PHRC”) which is a subsidiary of the Nigerian National Petroleum Corporation (“NNPC”) has become the first refinery in Africa to attain the ISO 9001:201...