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NIGERIA IMMIGRATION SERVICE SET TO EXTEND PASSPORT VALIDITY FOR ADULTS

Background The Nigeria Immigration Service (NIS) through the Comptroller-General of NIS, Mr Mohammed Babandede has recently announced plans to increase the validity of passports issued to adults from five (5) to ten (10) years. Passport validity of children will not […]

by FSAdmin

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CENTRAL BANK OF NIGERIA ISSUES DRAFT CYBERSECURITY GUIDELINE FOR DEPOSIT MONEY BANKS (DMB) AND PAYMENT SERVICE PROVIDER (PSP)

BACKGROUND The Central Bank of Nigeria (CBN) recently published a draft guideline on cybersecurity for Deposit Money Banks (DMB’S) and Payment Service Providers (PSP’s). The guideline is borne out of the persistent and increasing cyber-attacks on financial institutions and platforms […]

by FSAdmin

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President of Nigeria Signs Executive Order 6 of 2018 on the Preservation of Assets Connected With Serious Corruption and Other Relevant Offences

BACKGROUND The Nigeria President, Muhammadu Buhari on 5 th July 2018 signed the Executive Order 6 of 2018 (EO6) on the preservation of suspicious asset recovered from corrupt officials. This is part of the anti-graft drive by the Federal Government […]

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THE CBN NIGERIA /PBOC CHINA BILATERAL CURRENCY SWAP AGREEMENT (BCSA)

BACKGROUND The Central Bank of Nigeria (CBN) in 2011 made a decision to hold a part of its external reserves in Chinese Renminbi (CNY). The reason for this is not far-fetched given the expanding influence of China in global trade […]

by FSAdmin

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Nigeria Immigration Service suspends extra $110 Visa Fees

Recently, a new policy affecting foreigners entering the country with a Visa on Arrival was introduced at Lagos Murtala Muhammed International Airport. The new policy imposed an additional $90 on foreigners on arrival as Biometric Visa-On-Arrival charge and an additional […]

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Nigeria – Federal Executive Council approves 2 Executive Orders and 5 Amendment Bills on tax policy.

The Federal Executive council on the of 6th June 2018 approved 2 executive orders and 5 tax policy amendment bills in a bid to ameliorate tax burden, simplify tax payment, and increase the ease of doing business. It is noteworthy […]

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Federal government of Nigeria rewards whistle-blowers

BACKGROUND The Whistle Blowing Policy was created by the Federal Ministry of Finance and approved by the Federal Executive Council in December 2016. The policy is targeted at encouraging patriotic citizens to report criminal acts such as mismanagement or misappropriation […]

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Cybersecurity: understanding the threat landscape and lessons from the GDPR for Nigerian entities

Cybersecurity threat and cyberattack have emerged as a foremost menace facing global businesses and public institutions over the last decade. The danger is an existential reality private and public institutions have to contend with. The increased sophistication of attacks has […]

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Understanding consent in the age of GDPR – lessons for Nigerian entities.

Technology has increasingly eased the condition of our living. Often, these technologies rely on data generated by our interactions with it to serve us better. As we increasingly produce data, our privacy rights becomes vulnerable. The exponential growth of technology […]

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Visa, work and residence permit in Nigeria

INTRODUCTION As in any other country, Non- Nigerians that desire to enter, work and reside in Nigeria have to comply with the Immigration requirements of the country. The Immigration Act 2015 and the Immigration Regulations 2017 provide the framework for […]

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