ENFORCING CBN REVOCATION OF BANKING LICENSES: NDIC COMMENCES DEPOSITORS’ VERIFICATION
CBN revoked the licences of 46 microfinance banks. NDIC has commenced depositor verification and payment of insured deposits. Find out what it means.
Manifield Solicitors
Nigeria’s AML Enforcement Enters a New Era with the StAR Award
Introduction Just months after Nigeria successfully exited the Financial Action Task Force (FATF) grey list in October 2025, the Nigerian Financial Intelligence Unit (NFIU) (the agency) was awarded the UNODC-World Bank-Egmont Group Stolen Asset Recovery (StAR) initiative award in recognition of the successful efforts in investigating…
OPERATING THE FISCAL TERMS OF THE PIA 2021: BIDDING PROCEDURE IN THE OIL AND GAS SECTOR
Introduction The oil and gas industry is an extremely competitive industry in Nigeria. The industry is responsible for the production, use, supply, regulation and the economy of oil and gas in Nigeria. It is of extreme importance and contribution to…
CORPORATE COMPLIANCE ALERT: CAC ENFORCEMENT OF THE REQUIREMENTS OF A COMPANY BUSINESS LETTER
Introduction On the 7th day of July 2026, the Corporate Affairs Commission (CAC) (hereinafter referred to as “the Commission”) issued a notice to registered companies and the general public of its intention to enforce the statutory provision and requirement of…
NIMC ACT 2026: A NEW LEGAL FRAMEWORK FOR NIGERIA’S DIGITAL IDENTITY SYSTEM.
Introduction In a press release by the National Identity Management Commission (NIMC) (hereinafter referred to as the Commission) on the 26th day of June 2026, President Bola Ahmed Tinubu signed the NIMC Act 2026 into law. The new legislation introduces…
Regulating Platform Work in Nigeria: Workers’ Economic Rights and Obligations in the Gig Economy
An analysis of gig worker rights under Nigerian labor law. Explore structural gaps, the Uber v. Olatunji case, and the urgent need for regulatory reform.
CORPORATE ALERT: PRIOR NCC APPROVAL MANDATORY FOR SHAREHOLDING AND OWNERSHIP CHANGES IN COMMUNICATIONS COMPANIES
NCC approval for shareholding changes is now mandatory before eligible telecom ownership transfers can be registered with CAC. Learn the new rules.
CBN DRAFTS GUIDELINES ON RING-FENCING OPERATIONS OF CLOSELY LINKED ENTITIES IN THE NIGERIAN FINANCIAL SYSTEM
Introduction CBN Ring-Fencing Guidelines introduce a new regulatory framework aimed at strengthening governance, protecting customer funds, and ensuring operational independence among closely linked entities in Nigeria’s financial system. On the 10th day of June, the Central Bank of Nigeria (CBN)…
COURT REJECTS NO‑REFUND POLICY: MANIFIELD SOLICITORS PREVAILS IN REAL ESTATE CONSUMER‑PROTECTION SUIT
Introduction In a judgment that strengthens consumer protection in Nigeria’s real estate sector, the High Court of Lagos State has ruled in favour of Zikel Solutions Investment Limited (The Claimant), holding that a developer cannot rely on a blanket no‑refund…
FCCPC SUSPENDS ENFORCEMENT OF DEON REGULATIONS FOLLOWING FEDERAL HIGH COURT INTERIM ORDE
Introduction Nigeria’s regulatory landscape for consumer protection continues to evolve as regulators seek to address the challenges arising from digital commerce, online platforms, electronic transactions, and other technology-driven services. In line with its consumer protection mandate, the Federal Competition and Consumer Protection…