Corporate Governance in Family-Owned and Closely Held Nigerian Companies
Family-owned and closely held companies remain a pivotal part of Nigeria’s private sector and growing economy. The introductory paragraph of the Financial Reporting Council’s (FRC) SME Corporate Governance Guidelines indicates [...]
POWER SECTOR REFORM IMPLEMENTATION
The Nigerian Electricity Act 2023 (EA 2023) made mini-grids one of the cornerstones of Nigeria’s power sector reform. It, through the licensing mechanism, moved mini-grids from being a niche “rural [...]
GHANA’S COCOA TRADE
Ghana ranks as the second-largest producer of cocoa globally, with its beans highly valued for their reliable quality and rich taste. Recognising its strategic importance, the Government of Ghana has [...]
The NIGERIA DATA PROTECTION ACT GENERAL APPLICATION AND IMPLEMENTATION DIRECTIVE 2025
In March 2025, the Nigeria Data Protection Commission (“NDPC”) issued the Nigeria Data Protection Act (“NDPA”) General Application and Implementation Directive, 2025 (“GAID”). The GAID officially takes effect today, 19 [...]
Overview of the SEC’s Amended Digital Assets Rules
Nigeria has continuously experienced a surging adoption of digital assets, with revenues in 2025 projected at over US$1.5 billion.[1] Recognising the vast economic opportunities and benefits of digital assets and [...]
Regulation of Lotteries in Nigeria: Review of the Supreme Court’s Decision and its Implications
In a landmark decision delivered on 22 November 2024, the Supreme Court nullified the National Lottery Act 2005 (‘NLA’), which established the National Lottery Regulatory Commission (‘NLRC’) and granted it [...]
The Hidden Costs of Doing Business in Nigeria
On 28 January 2025, the Head of Tax Practice at AELEX, Mr. Theophilus Emuwa, voiced his concerns regarding the hidden non-tax costs that businesses in Nigeria face. He shared these [...]
Navigating Corporate Governance for Financial Institutions
Key Insights for Banks, Financial Holding Companies, and Public Companies under the SEC Code of Corporate Governance in Nigeria.
CAN A PRIVATE COMPANY INCORPORATED PRE-CAMA 2020 HAVE A SINGLE SHAREHOLDER?
INTRODUCTION On 30th July 2024, the Federal High Cout sitting in Abuja delivered a landmark judgment in Suit No: FHC/ABJ/CS/665/2023: Primetech Design & Engineering Nigeria Limited and Julius Berger Nigeria [...]
Examining NERC’s Order on the Establishment of the Independent System Operator
Introduction Pursuant to the Electricity Act, 2023 (the “EA”)[1], the National Electricity Regulatory Commission (the “NERC” or “Commission”) issued an order dated 30 April 2024 titled – Order on the [...]
REMOVAL OF DIRECTORS NOT AN EXCLUSIVE REMIT OF SHAREHOLDERS
The removal of a director is popularly recognised as the exclusive preserve of a company’s members in general meetings in line with the provision of section 288(1) of the Companies [...]
OVERVIEW OF THE SEC FRAMEWORK ON ACCELERATED REGULATORY INCUBATION PROGRAM
The Securities and Exchange Commission (“SEC/Commission”) has issued a Framework on Accelerated Regulatory Incubation Program for the Onboarding of Virtual Assets Service Providers and other Digital Investments Service Providers (“ARIP [...]
REGULATORY AND POLICY EVOLUTION TOWARDS ENERGY TRANSITION IN NIGERIA
Nigeria is a party to the United Nations Framework Convention on Climate Change (UNFCCC)[1] and other framework conventions such as the Paris Agreement of 2015, where the recommended net-zero target [...]
JUST ENERGY TRANSITION: THE WAY TO GO FOR AFRICA
Last year, the Conference of Parties (“COP 28”) took place in Dubai, UAE, featuring conversations and a renewed commitment to lay the groundwork for a swift, just and equitable transition [...]
IMPACT OF THE ELECTRICITY ACT (AMENDMENT) ACT OF 2024 ON GENCOs AND HOST COMMUNITIES
The Electricity Act (Amendment) of 2024 (the “Amendment Act”) was enacted on February 9, 2024, to address the development and environmental concerns of host communities. It amends the Electricity Act [...]
REVISED METHOD FOR FILING OF MONTHLY EXPATRIATE QUOTA RETURNS WITH THE FEDERAL MINISTRY OF INTERIOR
In a public notice dated 8th November 2023, the Federal Ministry of Interior (“the Ministry”) announced a significant update regarding the filing of Monthly Quota Returns, reflecting its commitment to [...]
FOREIGN OWNED COMPANIES MUST NOW HAVE N100 MILLION MINIMUM PAID-UP CAPITAL
By a notice dated 5th December 2023 which has now been retracted, the Corporate Affairs Commission (the “CAC”) informed the public of the commencement of the implementation of the N100 [...]
FOREIGN OWNED COMPANIES MUST NOW HAVE N100 MILLION MINIMUM PAID-UP CAPITAL
By a notice dated 5th December 2023 which has now been retracted, the Corporate Affairs Commission (the “CAC”) informed the public of the commencement of the implementation of the N100 [...]
INTEGRATING RENEWABLE ENERGY INTO NIGERIA’S ENERGY MIX; PROSPECTS AND CHALLENGES
AELEX in collaboration with Renewable Energy and Energy Efficiency Associations -Alliance (REEEA-A) are pleased to invite the general public and stakeholders to a webinar on the topic “INTEGRATING RENEWABLE [...]
CORPORATE AFFAIRS COMMISION TO IMPOSE PENALTIES FOR LATE FILING OF ANNUAL RETURNS
FULL APPLICATION OF PENALTIES FOR FAILURE TO FILE ANNUAL RETURNS BY COMPANIES AND RECOVERY OF PENALTIES AGAINST COMPANY DIRECTORS AND OFFICERS The Corporate Affairs Commission wishes to remind the [...]