Crowdfunding in Nigeria – Review of the Securities and Exchange Commission Proposed Rules
Crowdfunding, also known as “online financing,” is defined as raising funds to finance a project or business from the public using an online platform. A crowdfunding platform could be a website portal, intermediary portal, mobile application, or other similar medium of exchange employed to facilitate interaction between fundraisers and the investing public.[2]The concept of crowdfunding […]
The Jurisprudence of Non-Conviction Based Asset Forfeiture (Civil Forfeiture) in Nigeria: Constitutionality of the New Knight-Errant Innovated Under the UNCAC
Research shows that between 1980 and 2018, African countries received close to $2 trillion in foreign direct investments and development assistance but recorded over half of that sum, about $1.3 trillion, in illicit financial flows (outflow). Nigeria, South Africa, Democratic Republic of Congo and Ethiopia collectively accounted for more than 50% of illicit outflows from […]
The Department of Petroleum Resources’ Guidelines for the Award and Operations of Marginal Fields in Nigeria 2020
The Department of Petroleum Resources (DPR) on May 31st 2020, issued approved Guidelines for the Award and Operations of Marginal Fields in Nigeria and announced that the marginal fields bid rounds for 2020 will commence on Monday June 1st, 2020. After two previous stalled attempts to conduct marginal field rounds (2013 and 2017) following from […]
Impacts of Covid-19 Pandemic and Measures at Containment on Loan Repayment Obligation
Debt financing has become a significant aspect of capital raising for businesses globally. In 2019, the Central Bank of Nigeria issued a directive that increased Loan-to-Deposit Ratio (LDR) to 65%, which means that Deposit Money Banks (DMBs) were obligated to give 65% of their deposits as loan. Due to this directive, many DMBs gave out […]
Guidelines for Holding Virtual Corporate Meetings
Company meetings are key to the decision-making process of a company. Management, Board, Committee(s) and General Meetings are avenues through which a company deliberates and makes decisions bordering on its management, control and administration. Thus, it is imperative that these meetings are convened in line with the protocols and procedures stipulated in the relevant statutes; […]
Convertible Promissory Notes: A Financing Model for Tech Startups in Nigeria
According to Bloomberg, about 80 percent of startup businesses fail within the first 18 months. A major reason for this is limited access to finance and Nigeria is not left out of these statistics. In fact, recent study suggests this numbers have risen to a whopping 90 per cent. The prohibitive interest rate and inability […]
Workplace Hazards and Imperatives of Increased Social Security Under the Employees’ Compensation Act
The growing appetite for organizations, corporations, industries, factories and other business establishments to develop international influence and drive increased market share has made workplaces to be more prone to hazards. The International Labour Organization (ILO) in a recent report estimated that about 317 million non-fatal occupational injuries and 321,000 occupational fatalities occur globally each year. […]
Covid-19: A Critical Analysis of the Federal Government’s Proposal to Supply Free Electricity
Recently, the House of Representatives proposed a stimulus bill to facilitate the free distribution of electricity to Nigerians for two months as part of the Federal Government (FG)’s socio-economic response to limit and alleviate the human and economic impact of the Covid-19 pandemic. Other countries such as Ghana and the Democratic Republic of Congo have […]
Legal Mechanism for Investor Protection in Private Equity Transactions in Nigeria
According to the African Private Equity and Venture Capital Association, 73 percent of the total value of private equity deals in West Africa between the years 2013 to 2018 were recorded in Nigeria. This trend continued into 2019 and 2020 with a high volume of deals recorded in the financial services, information technology and real […]
Decriminalisation of Bigamy in Lagos State And its Legal Implications
The present Nigerian criminal justice system is part of Nigeria’s inheritance from colonial Britain. In fairness, it served the colonial power rather well. But with the transformation from colonialism to self-governance, democracy, military rule and now a hybrid of civilian rule and democracy, the inherited system had come under severe strain to the extent that […]
