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Important Notification for Large Taxpayers in Nigeria: Introduction of the National E-Invoicing Regime and Associated Global Insights

The Federal Inland Revenue Service (FIRS) has announced the implementation of the National E-lnvoicing Regime, a component of the Electronic Fiscal System (EFS). This initiative, specifically the FIRS Merchant-Buyer Solution, represents a significant procedural change in tax administration for eligible entities. You can access the full publication by clicking here.

SEC Nigeria Rings the Governance Bell: No More INED-to-CEO Transmutations & Introduction of Tenure Limits

The Securities and Exchange Commission (SEC) Nigeria has once again demonstrated its stance in fostering transparency, accountability, and ethical governance in Nigeria’s corporate space. In a recent circular published on its website on Thursday 29 June 2025, the Commission raised serious concerns over a growing corporate governance anomaly—the internal rotation of directorship roles, particularly the […]

REGULATORY UPDATE: CAC ISSUES REVISED SCHEDULE OF FEES – KEY IMPLICATIONS FOR NIGERIAN COMPANIES AND OTHER BUSINESS VEHICLES

The Corporate Affairs Commission (CAC), in a move aimed at updating its statutory fee structure, has released a new schedule of fees for services rendered to business entities registered in Nigeria, effective August 1, 2025. This revision affects both routine and strategic filings, including annual returns, increase of share capital, post-incorporation changes, and requests for […]

Internal Control Over Financial Reporting: Understanding the Context and Implementation of ICFR

In today’s dynamic business environment, having strong financial reporting systems is essential. It is in recognizing this that regulators like the Securities and Exchange Commission (SEC) and the Financial Reporting Council (FRC) now require entities under their oversight to conduct annual assessments of their Internal Control over Financial Reporting (ICFR) function. This measure ensures the […]

Ensuring Compliance with Modern Business Practices: FHC Upholds Single-Shareholder Transition for Pre-CAMA 2020 Companies

IN CASE YOU MISSED IT On Tuesday, July 30, 2024, the Federal High Court sitting in Abuja delivered a judgment stating that the Corporate Affairs Commission (CAC) lacks the authority to prevent companies incorporated prior to the enactment of the Companies and Allied Matters Act (CAMA) 2020 from transitioning to single-shareholder statuses. The FHC determined […]

Finance-Act-Amendment bill 2024

What’s New with the Finance Act Amendment Bill 2024: An Analysis

I n this briefing, we examine the Finance Act Amendment Bill of 2024, a legislative proposal that aims to introduce new sections to the Finance Act of 2023. This Bill introduces a new “windfall tax” provisions designed to specifically impact commercial banks. Our analysis will explore the specific amendments proposed, their broader economic implications, and […]