Balogun Harold - Leading Commercial &amp; Corporate Law Firm

SEC Issues Interpretive Guidance on Amended Private Equity Fund Rules

The SEC’s interpretive guidance and amendments aim to streamline compliance for smaller private equity funds, and enhance transparency on fees and governance. Fund managers and sponsors should review their internal policies to ensure consistency with the updated requirements, particularly regarding the ₦5 billion registration threshold, proprietary investment obligations, and fee disclosures.

November 5, 2025

Obtaining a Startup Label Under the Nigeria Startup Act, 2022

The distinction between a startup and a scale-up may become critical for for eligibility because a “labelled startup” is defined to mean a startup labelled under this Act and issued a digital certificate. Subject to further clarification from the NITDA, it would appear that the regulatory intent is to exclude scale-ups from obtaining a start-up label under the Nigeria Startup Act.

November 4, 2025

Tax Incentives for Venture Capital and Angel Investors in Nigeria.

Other than fund domicile, perhaps the most important consideration when setting up a venture capital fund in Nigeria is tax planning and tax leakage avoidance.This article highlights two of some of the key tax incentives available to venture capital investors in Nigeria and some practical considerations for venture capital fund structuring.

November 4, 2025

Minimum KYC Requirements for Opening Bank Accounts for Nigerian Entities Offshore

Notwithstanding the removal of Nigeria from the FATF Grey List, foreign banks are still required to conduct full KYC and AML/CFT checks for Nigerian clients, as these obligations remain mandatory under global banking regulations. This article provides some local intel for foreign banks on the minimum requirements for safely and efficiently onboarding Nigerian clients while maintaining compliance with international AML/CFT standards.

October 30, 2025

Infrastructure, Power & Energy

Defence & Security Financing in Nigeria: Recent Developments

The establishment of the Defence and Security Infrastructure Fund represents a significant step towards strengthening Nigeria’s security architecture

October 29, 2025

New Capital Gains Tax Rules for Nigerian M&A Transactions

While gains on the disposal of shares in Nigerian companies are generally chargeable, the Nigeria Tax Act introduces important exemptions designed to encourage investment and capital market activity.

October 29, 2025

Taxation of Non-Residents in Nigeria

The Nigeria Tax Act 2025 has clarified and expanded the legal basis for the taxation of non-residents in Nigeria. Under the Act, non-resident persons can now be taxed under four broad categories: Capital Gains, Profits, Consumption of Imported Services, and Premiums/Nigerian Source Income. We discuss these broad categories below.

October 21, 2025

Permanent Establishment in Nigeria

The Nigeria Tax Act 2025 has clarified and expanded the legal definition of permanent establishment and the rules regarding the attribution of income and profits to a permanent establishment. Under the Nigeria Tax Act 2025, a permanent establishment is the taxable presence of a non-resident person in Nigeria.

October 14, 2025

When Should Liability Caps Be Applied – Before or after Set-Off ?

Technology contracts frequently include liability caps. For example, a technology vendor might agree that “no more than 12 months’ fees” can be claimed. But complications often arise when both parties have contractual claims against each other. Should the parties set off their claims first and then apply the liability cap to the net amount? Or should the cap bite on each party’s liability separately, with set-off only after the cap has reduced one side’s claim?

September 30, 2025

Significant Economic Presence in Nigeria

The concept of Significant Economic Presence in Nigeria establishes a taxable nexus for non-resident companies or individuals that derive significant economic benefits from Nigeria, even if they do not have a traditional physical permanent establishment in the country. The concept of Significant Economic Presence is particularly relevant in the digital economy, including e-commerce, cloud computing, online advertising, online platforms, and other electronically mediated service

September 30, 2025

Infrastructure, Power & Energy

LASPA: Parking Regulations in Lagos State

Parking in Lagos is no longer an unregulated free-for-all. Since the enactment of the Lagos State Parking Authority Law, 2018 and the operational rollout of the Lagos State Parking Authority, the State has moved to bring both public and private parking under a unified regulatory framework.

September 16, 2025

Cross-Border Data Transfers in Nigeria – U.S. SaaS Companies

For DPOs and privacy counsel of U.S. SaaS companies and Nigerian customers, one big challenge is ensuring lawful cross-border data transfers. This article explains the rules and what NDPA compliance for U.S. SaaS companies requires in practice.

September 14, 2025

Legal Update

Nigeria Issues 2024 Online Trust and Safety Compliance Report

The National Information Technology Development Agency (NITDA) has released the 2024 Compliance Report on the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries (CoP for ICSPs/IIs).

August 22, 2025

Technical and Organizational Measures- A Primer

Technical measures are the technological controls used to protect personal data. On the other hand, organizational measures are the internal policies, governance frameworks, and cultural practices that ensure personal data is processed responsibly

August 20, 2025

Artificial Intelligence in Nigeria: Key Regulatory Considerations

A recent report by Google titled "Our Life With AI: From Innovation to Application" suggests that generative AI adoption in emerging markets is significantly higher than global averages. Within that context, we examine some regulatory touch points within the emerging legal framework for artificial intelligence services in Nigeria.

August 17, 2025

Are U.S. Foreign SaaS Corporations Regulated by Nigeria?

We think that the African SaaS market is already significantly larger than commonly cited figures suggest. While some sources estimate it at around $3.5 billion in 2023, we believe this substantially understates actual consumption.

August 16, 2025

Online Safety Act: Age Verification and Data Reuse

The risk of reuse of age verification data is conceivable

August 13, 2025

Online Trust & Safety in Nigeria: An Overview

In Nigeria, the regulatory landscape surrounding online trust and safety is anchored primarily in the Code of Practice for Interactive Computer Service Platforms & Internet Intermediaries (the “Code”). This framework defines the rules that digital platforms must follow, with specific obligations

August 5, 2025

Bank Corporate Client Acquisitions: Employment Law Considerations

If women were selected, incentivized, or subtly pressured to use charm or appearance to attract business, this may constitute constructive dismissal, if such women feel compelled to resign.

August 5, 2025

Nigeria Data Privacy Law 2025: NDPA & GAID Guide

In March 2025, NDPC issued the General Application and Implementation Directive (GAID) 2025, an operational rulebook that consolidates how the Act applies in practice and introduces detailed rules

August 5, 2025