Regulatory Update: Designation of the Nigerian Copyright Commission as a Relevant Organisation under the Proceeds of Crime (Recovery and Management) Act 2022
On 7 February 2025, the Nigerian Copyright Commission (“NCC”) was designated as a Relevant Organisation under the Proceeds of Crime (Recovery and Management) Act, 2022 (“Act”), by the Proceeds of Crime (Designation of Nigerian Copyright Commission as a Relevant Organisation) Order 2025 (“Order”). What’s New The Act provides a legal framework for the recovery and […]
Nigeria’s EV Opportunity: Is Nigeria’s Solid Mineral Sector ready for this opportunity?
Dear Readers, In a strategic development poised to reshape Nigeria’s industrial landscape, China is set to deepen its collaboration with Nigeria through the establishment of electric vehicle (EV) factories. During a recent courtesy visit to the Honourable Minister of Solid Minerals Development, Dr. Dele Alake, Ambassador Dunhai reiterated China’s commitment to elevating its engagement with […]
Revived But Not Reformed: The Stalled Progress of Nigeria’s State Refineries
Dear Readers, Barely a month after the much-celebrated reopening of the Warri Refining and Petrochemical Company, the Refinery has come to a grinding halt.[1] Commissioned in 1978 and inactive for decades due to technical inefficiencies, the 125,000 barrels-per-day refinery resumed operations on December 30, 2024, only to shut down on January 25, 2025, due to […]
Client Update: CBN Invites Stakeholders’ Feedback on the Exposure Draft of the Baseline Standards for Automated Anti-Money Laundering (AML) Solutions
On May 20, 2025, the Central Bank of Nigeria (CBN) published the Exposure Draft of the Baseline Standards for Automated Anti-Money Laundering (AML) Solutions (the “Exposure Draft” / “Proposed Baseline Standards”). The Exposure Draft was developed in recognition of the rapid pace of technological advancement in the financial sector and the increasing use of innovative […]
Client Update: CBN Reviews Documentation Requirements for PAPSS Transactions in Nigeria
The Pan-African Payment and Settlement System (PAPSS), launched in January 2024, is a centralized payment infrastructure designed to facilitate faster and more cost-effective cross-border trade transactions in local African currencies. It was adopted as a key mechanism to support the implementation of the African Continental Free Trade Area (AfCFTA). Following the successful completion of Africa’s […]
Afreximbank’s $3 Billion Power Move: Is Africa Ready to Refine Its Future?
Dear Readers, In a bold play to reclaim control of Africa’s energy destiny, the African Export–Import Bank (Afreximbank) has pledged $3 billion to finance the purchase of locally refined petroleum products across the continent. This was announced earlier this month by the Executive Vice-President, Kanayo Awani, at an energy conference in Cape Town, South Africa. […]
Licenses Issued, But Can Nigeria’s Refineries Survive Without Crude?
Dear Readers, Nigeria’s refining sector is poised for expansion as the Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has approved licenses for the construction of three new refineries. These facilities are expected to add 140,000 barrels per day (bpd) to the country’s domestic refining capacity. The newly licensed refineries include: […]
Poisoned at the Source: Securing Nigeria’s AI Supply Chain Against Data Poisoning
Nigerian technology businesses already understand guardrails. Fintechs build transaction limits, velocity checks, and fraud detection into their payment rails. Banks apply identity and onboarding checks. Health technology platforms restrict access to patient records. The familiar approach is to build a system, then place controls around it to detect misuse before harm reaches the user. AI […]
Virtuitis Solaris Powers Ahead with 500 Mini-Grids to Expand Energy Access in Nigeria
Dear Readers, Nigeria is making significant progress in closing its electricity access gap, with the International Finance Corporation (IFC) partnering with five Distributed Renewable Energy (DRE) companies to accelerate mini-grid deployment across the country. This initiative aligns with Mission 300, led by the World Bank Group and African Development Bank, which aims to connect 300 […]
Nigeria’s Emerging Mining Renaissance: Lithium Discoveries, Billions in Investments, and a 7-Point Agenda – Is Real Transformation Imminent?
Dear Readers, Just weeks after Minister of Solid Minerals Development Dele Alake announced significant discoveries of lithium deposits, alongside major platinum group metals, gold, nickel, copper, and rare earth elements in Kaduna State at the opening ceremony of the African Natural Resources and Energy Investment Summit 2026 held in Abuja, Nigeria’s solid minerals sector has […]
