Resolution Law Firm

THE REQUIREMENTS FOR FCCPC REGISTRATION FOR DIGITAL & MONEY LENDING COMPANIES IN NIGERIA

 FCCPC REGISTRATION FOR DIGITAL LENDING COMPANIES The Federal Competition and Consumer Protection Commission (FCCPC) is the regulatory authority responsible for, among other things, the administration and enforcement of the Federal Competition and Consumer Protection Act 2018 (the Act).  Recently the FCCPC, NITDA (National Information Technology Development Agency) together with other federal agencies have been looking [...]

By |December 13th, 2022|Business Operation & Licenses|Comments Off on THE REQUIREMENTS FOR FCCPC REGISTRATION FOR DIGITAL & MONEY LENDING COMPANIES IN NIGERIA

KEY PROVISIONS OF THE NIGERIAN ANTI-MONEY LAUNDERING ACT 2022

Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, and embezzlement by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime. In Nigeria, the Money Laundering (Prevention and [...]

By |August 28th, 2022|Business Operation & Licenses, Criminal Matters|Comments Off on KEY PROVISIONS OF THE NIGERIAN ANTI-MONEY LAUNDERING ACT 2022

SEC ISSUES NEW REGULATIONS ON CRYPTOCURRENCIES IN NIGERIA

The Securities Exchange Commission (SEC) of Nigeria has recently released new rules regarding the issuance, exchange and custody of digital assets (i.e digital token that represents assets such as debt or equity claim on the issuer) in Nigeria. Digital assets here refer to all types of crypto assets. The rules shall apply to all issuers [...]

By |June 12th, 2022|Business Operation & Licenses|Comments Off on SEC ISSUES NEW REGULATIONS ON CRYPTOCURRENCIES IN NIGERIA

HOW TO START A BUSINESS IN NIGERIA AS A FOREIGNER

HOW TO START A BUSINESS IN NIGERIA  In Nigeria, foreign investments have been a great boost to the economy. It is to be noted that Nigeria operates a free market economy hence, there are no restrictions on foreigners starting a business in Nigeria subject to the fulfilment of certain requirements. We shall briefly explain the [...]

By |June 12th, 2022|Business Formation, Business Operation & Licenses|Comments Off on HOW TO START A BUSINESS IN NIGERIA AS A FOREIGNER

CRYPTOCURRENCY TRADING IS NOT ILLEGAL IN NIGERIA – COURT RULED

A Federal High Court sitting in Abuja, in a Ruling delivered by Justice Taiwo O. Taiwo on 18th October 2021, has held that the Central Bank of Nigeria circular, referenced as BSD/DIR/PUB/LAB/014/001 of February 5, 2021, is not a law and the CBN lacks the requisite authority to declare the trading of Cryptocurrency illegal by [...]

By |November 3rd, 2021|Business Operation & Licenses|Comments Off on CRYPTOCURRENCY TRADING IS NOT ILLEGAL IN NIGERIA – COURT RULED

REQUIREMENTS FOR IMPORTATION OF ELECTRIC POWER GENERATOR IN NIGERIA

Generator importation requires an import permit from the Nigeria Electricity Regulatory Commission (NERC). The Nigeria Electricity Regulatory Commission (NERC) is an independent regulatory body with the authority to supervise Nigeria's electricity industry The main purpose of establishing NERC is to supervise the electricity prices of government-owned or controlled power generation companies and any other power [...]

By |June 11th, 2021|Business Operation & Licenses|Comments Off on REQUIREMENTS FOR IMPORTATION OF ELECTRIC POWER GENERATOR IN NIGERIA

PROCEDURE FOR NIPC REGISTRATION IN NIGERIA

PROCEDURE FOR NIPC REGISTRATION IN NIGERIA Nigerian Investment Promotion Commission (NIPC) is a Federal Government Agency in Nigeria established by the NIPC Act 1995. The objective of the NIPC is to promote, coordinate and monitor investments in Nigeria. The commission initiates and supports the enhancement of the investment climate in Nigeria for both Nigerian and [...]

By |September 4th, 2020|Business Operation & Licenses|Comments Off on PROCEDURE FOR NIPC REGISTRATION IN NIGERIA