We provide legal support to local and international corporate bodies, government agencies, non- government organisations and individuals.

Category: Regulatory Updates – Financial Services

INTERNAL REVENUE SERVICE (IRS) GUIDELINES FOR TAX TREATMENT ON FOREIGN EXCHANGE TRANSACTIONS IN NIGERIA

INTRODUCTION 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 how such transactions should be reported

Read More

REGULATORY UPDATE: IMPLEMENTATION OF RETAIL DUTCH AUCTION SYSTEM (RDAS) BY THE CENTRAL BANK OF NIGERIA

Introduction 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 the country. This initiative is

Read More