by Stren & Blan Partners | Jan 21, 2025 | Insight, Tax
The Lagos State Internal Revenue Service (LIRS) recently issued a Notice (the “Notice”) to employers in the State to file their annual tax returns for the 2024 financial year on or before 31st January 2025. Pursuant to Section 81(2) of the Personal Income Tax Act....
by Stren & Blan Partners | Jan 6, 2025 | Energy, Insight
Nigeria currently experiences a wave of divestments by international oil companies (IOCs), an increased attention is being directed towards the decommissioning of ageinginfrastructure. This has prompted the urgent need for decommissioning strategies that are...
by Stren & Blan Partners | Jan 3, 2025 | Energy, Insight
In the last quarter of 2024, Nigeria’s oil and gas sector experienced a slight development from the previous quarter. In October 2024 the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)recorded a decline in crude oil production from 1.54 million...
by Stren & Blan Partners | Dec 30, 2024 | Insight, Intellectual Property
The Trademarks Registry (TMR) released two journals on 18 and 25 October 2024. Interested persons had until 18th and 25th December 2024 respectively, to oppose the registration of any trademark in the journals. The TMR has now received notices of opposition filed by...
by Stren & Blan Partners | Dec 30, 2024 | Insight
The Central Bank of Nigeria (CBN) in a circular dated 29 November 2024, issued the Revised Guidelines for the Nigerian Foreign Exchange Market (“NFEM”) (the “Guidelines”), marking a significant shift in how foreign exchange transactions are to be conducted in Nigeria....
by Stren & Blan Partners | Dec 17, 2024 | Insight
The shift to digital platforms has created a competitive landscape and increased reliance on remote work, particularly for expatriates in software development and cybersecurity. This shift has also largely impacted the fintech sector in Nigeria, which has emerged as a...
by Stren & Blan Partners | Dec 16, 2024 | Insight
The Central Bank of Nigeria’s (CBN) Circular of July 2016 (CBN Circular) approved the quotation rules of the FMDQ OTC Securities Exchange (FMDQ) and authorized the quotation of Commercial Papers in Nigeria. It also directed that deposit money banks and discount houses...
by Stren & Blan Partners | Nov 28, 2024 | Insight
Nigeria’s maritime sector, though crucial to its economy, faces challenges such as aging infrastructure, inefficiency, and insufficient funding. To address these issues, Public-Private Partnerships (PPPs) have emerged as a promising solution. PPPs combine the...
by Stren & Blan Partners | Nov 27, 2024 | Insight
The Central Bank of Nigeria (CBN) has issued the Nigerian Foreign Exchange Code (FX Code), effective from October 14, 2024, under the authority of the CBN Act 2007 and the Banks and Other Financial Institutions Act (BOFIA) 2020. The FX Code outlines various principles...
by Stren & Blan Partners | Nov 21, 2024 | Insight
The Nigerian Investment Promotion Commission (‘NIPC’ or ‘the Commission’), established under the NIPC Act of 1995, is Nigeria’s primary agency for attracting and coordinating domestic and foreign investments. By offering incentives and ensuring an investor-friendly...
