Firm News•August 31, 2025
Balogun Harold Advises PaidHR on $1.8 Million Seed Funding Round
This venture capital investment marks an important milestone in PaidHR’s growth journey and supports its mission to expand its HRIS offering across Africa.
Balogun Harold - Leading Commercial & Corporate Law Firm
Providing strategic legal counsel for high-stakes transactions across infrastructure, energy, technology, and financial services sectors.
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Case Reviews
Fintech Lender not Liable for Breach of Human Rights of Borrower
Fintech lenders in Nigeria frequently face legal action from their borrowers. Often, these borrowers, who have outstanding debts, initiate court proceedings to stall or avoid repayment altogether. One common claim made by borrowers is that a fintech lender has violated their constitutional rights by involving the Nigerian Police in the debt recovery process. In other cases, a borrower will allege that a fintech lender has violated his/her data privacy rights.
February 19, 2024
Policy Update
Nigeria's Carbon Market Activation Plan
Nigeria is making concerted efforts to grow its carbon market. This policy update highlights some of the recent policy developments in Nigeria's carbon market.
February 12, 2024
Policy Update
CBN Issues New Rules for International Money Transfer Firms
Nigeria's Central Bank ( the "CBN") is intensifying its efforts to safeguard the Naira from ongoing devaluation pressures. A key battleground in this mission is the international money transfer and remittance sector. This sector is particularly strategic compared to the foreign direct investments (FDI) markets because there is generally no requirement for repatriation of capital, as would be the case with FDI investments.
February 5, 2024
Technology, Media & Digital Economy
Article
New Central Banking Regulations for Cryptocurrency Companies in Nigeria
In a new 2023 Regulation for the Operation of Virtual Asset Providers in Nigeria, issued by Nigeria’s Central Bank, Nigeria has effectively lifted a previous ban that prohibited local Nigerian banks from transacting with or providing business banking services to cryptocurrency companies and virtual asset service providers ("VASPs").
January 3, 2024
Technology, Media & Digital Economy
Explainer
Fintech Lenders: From Unsecured to Secured Lending
We have a theory. It's not original but it works: Fintechs and other lenders will significantly diminish loan losses as well as the risk of loan defaults if the...
November 23, 2023
Technology, Media & Digital Economy
Case Reviews
Why Has the UK Supreme Court Just Decided that Deliveroo Riders are not Employees?
A new decision of the UK Supreme Court (“UKSC”), delivered today, will have implications for the contractual relationship between tech platforms, gig workers and other key stakeholders.
November 21, 2023
Technology, Media & Digital Economy
Insights
Debt-for-Nature Swaps in Nigeria: Key Commercial Considerations
Especially for developing countries in Africa, debt-for-nature swaps are great tool for sovereigns to replace expensive debt and to put increasing sovereign deb...
November 19, 2023
Financial Intermediation
Legal Updates
Infrastructure Funds: Key Protections for Investors in Nigeria
For global pension funds and institutional investors investing in Nigeria's infrastructure sector for the first time, investing in Nigeria through an infrastructure fund addresses some of the traditional risks associated with emerging/frontier markets and provides some level of risk management. This legal update outlines some key protections for infrastructure fund investors in Nigeria.
October 12, 2023
Infrastructure, Power & Energy
Insights
Raising Money via Securitizations: Key Considerations for Startups
Contrary to common belief, the financing round following a Series A financing need not be a Series B equity financing. In between one equity financing round and the other, it is often prudent for founders to explore other innovative strategies for raising capital.
September 28, 2023
Technology, Media & Digital Economy
Insights
FX Liquidity: Driving Growth through Non-Resident Accounts
In this update, we reflect on some learnings from recent corporate financing and fund formation transactions in sharing some insights around the need for Nigeria's central bank to review its rules around the operation of non-resident accounts.
September 25, 2023
Financial Intermediation
Policy Update
Foreign Direct Investments in Nigeria - Policy Updates: 2024/25
Compared to other African countries, Nigeria has one of the most investment-friendly laws and continues to be an attractive destination for foreign direct inves...
September 15, 2023
Financial Intermediation
Insights
Venture Capital Portfolio Roll-Ups Can Refine Exit Strategy in Africa
Portfolio add-ons and roll-ups are a great way for venture capital funds focused on tech companies in Africa to qualify an existing portfolio for an IPO, grow revenues, lower costs and improve an underperforming portfolio
September 10, 2023
Technology, Media & Digital Economy
Insights
Immunity of the Central Bank: Legal Issues Arising
The recent suspension and subsequent arrest of Nigeria’s central bank Governor and some Deputy Governors, as well as the appointment of an independent panel to ...
September 10, 2023
Financial Intermediation
Explainer
Anton Piller Orders - A Powerful Tool to Protect your Intellectual Property
When an employee or vendor steals your intellectual property or another company monetises your trademarks, patent or intellectual property rights, without your consent, one of the legal strategies that can be used to checkmate such illegal activity is to get an Anton Piller order from the courts
September 4, 2023
Technology, Media & Digital Economy
Insights
ChatGPT - Some Legal Considerations for Users
This legal update summarises some of the legal issues that may arise from the use of ChatGPT. What is ChatGPT? In simple terms, the Chat Generativ...
September 4, 2023
Technology, Media & Digital Economy
Insights
Doing Business in Nigeria Using Joint Venture Structures
Joint ventures have proven to be a highly resilient market-entry structure for conducting business in Nigeria. These strategic partnerships allow foreign busine...
September 4, 2023
Financial Intermediation
Legal Updates
Finance Act 2023: Key Updates to Nigeria's corporate tax regime
This legal update provides a high-level summary of the changes made by the Finance Act 2023 which became effective as of May 1, 2023. Businesses are advised to ...
September 4, 2023
Financial Intermediation
Insights
Is Web Scraping Illegal in Nigeria?
This legal update highlights some key legal issues for web scraping companies in Nigeria, based on a recent client engagement.
September 3, 2023
Technology, Media & Digital Economy
Legal Updates
Carbon Trading in Nigeria: Key Considerations for Investors
The carbon trading market is finally taking off in Nigeria. There are at least 5 regulatory developments which support this conclusion. First, is the publication of the revised National Policy on Climate Change (2021-2030)
September 3, 2023
Infrastructure, Power & Energy
Article
A Highlight of the Key Protections for Private Asset Management Companies
The Bank and other Financial Institutions Act 2020 (the "BOFIA 2020") provides a number of protections for Private Asset Management Companies in Nigeria. In 2017, Nigeria's Central Bank ( the "Central Bank") proposed a legal framework for licensing Private Asset Management Companies ( the "PAMC Regulation").
August 19, 2023
Financial Intermediation
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Firm News•July 2, 2025
Olubunmi Abayomi-Olukunle to Speak at ELLAN Employment Law Conference 2025
The program will explore contemporary issues in employment law, including workplace ethics, labour law compliance, risk management, and dispute resolution, with particular focus on the interpretation and application of the Department of Petroleum Resources (DPR) Guidelines for the Release of Staff in the Nigerian Oil and Gas Industry, as highlighted in recent decisions of the National Industrial Court.
Firm News•April 11, 2025
Balogun Harold Advises Consultants on $20 Million Naira-Denominated Venture Capital Fund for Nigeria’s Startup Ecosystem
Balogun Harold acted as legal advisers to consultants on the structuring of a Naira-denominated venture capital fund aimed at fostering the growth of Nigeria’s startup ecosystem.
Firm News•February 15, 2025
Olubunmi Abayomi-Olukunle to Speak at Fintech Association Program
Olu will share his insights on regulatory frameworks, investment strategies, and legal considerations, offering guidance for startups and investors navigating the evolving fintech landscape.
Firm News•December 28, 2024
Balogun Harold Advises Seamfix on $4.5 Million Venture Capital Investment Led by Alitheia Capital
Balogun Harold provided end-to-end legal advisory on the transaction structure, due diligence, and investment documentation, ensuring a seamless fundraising process in line with Nigerian and international venture capital standards.
Firm News•November 28, 2024
Balogun Harold Advises ThriveAgric on International Partnership Delivering $50 Million in Carbon Credit Revenue
Balogun Harold provided comprehensive legal support throughout the transaction, including partnership structuring, documentation, and regulatory compliance, ensuring a smooth and compliant execution in line with Nigerian and international standards.