Regulatory
Updates
Timely analysis of regulatory developments shaping Nigeria’s commercial and legal landscape.
Understanding the NCC’s March 2026 SIM Regulation Update: What It Means for Individuals and Organisations
In March 2026, the Nigerian Communications Commission (NCC) introduced the Telecoms Identity Risk Management System (TIRMS), a regulatory initiative designed to strengthen mobile number security, reduce...
CBN Introduces New Anti Money Laundering (AML) Technology Standards for Financial Institutions
The Central Bank of Nigeria has issued new Baseline Standards for Automated Anti-Money Laundering (AML) Solutions, requiring financial institutions to adopt technology-driven monitoring systems...
CBN ISSUES NEW GUIDELINES FOR AGENT BANKING OPERATIONS IN NIGERIA
The Central Bank of Nigeria (the “Bank” or the “CBN”), pursuant to its powers under the Central Bank of Nigeria Act, 2007 and the Banks and Other Financial Institutions Act, 2020 (BOFIA), has issued the Guidelines...
NIGERIAN COMMUNICATION COMMISSION SIMPLIFIES TARIFF PLANS FOR TELECOMMUNICATION OPERATORS IN NIGERIA
The Nigerian Communications Commission (NCC) on July 29, 2024, issued new guidelines aimed at simplifying tariff plans for mobile network operators (MNOs) in Nigeria...
REGULATORY UPDATE: IMPLEMENTATION OF RETAIL DUTCH AUCTION SYSTEM (RDAS) BY THE CENTRAL BANK OF NIGERIA
In August 2024, the Central Bank of Nigeria (CBN) announced the implementation of the Retail Dutch Auction System (RDAS) to address the growing unmet demand for foreign exchange (forex) within...
INTERNAL REVENUE SERVICE (IRS) GUIDELINES FOR TAX TREATMENT ON FOREIGN EXCHANGE TRANSACTIONS IN NIGERIA
On July 25, 2024, the Internal Revenue Service (IRS) released new guidelines on the tax treatment of foreign exchange transactions in Nigeria. These guidelines aim to provide clarity on...