Olaniwun Ajayi LP

December 4, 2020

BOFIA 2020

The Banks and Other Financial Institutions Act 2020 and Impact on Fintech Companies in Nigeria

On 13 November 2020, the President of the Federal Republic of Nigeria signed the Banks and Other Financial Institution Act (2020) (BOFIA or the Act) into law. The Act repealed the extant BOFIA 1991 (as...

September 24, 2020

CBN Guidelines

Overview of the Updated CBN Guidelines for Payment Service Banks

The CBN, in a bid to promote financial inclusion and enhance access to financial services for low income earners and unbanked segments in society, proposed the establishment and licensing of...

September 17, 2020

SEC Statements on Digital Assets

Securities and Exchange Commission’s Statement on Digital Assets

Previously, digital assets such as cryptocurrencies and tokens were unregulated in Nigeria, with regulators taking a cautious approach, and urging the public to tread carefully when investing in such assets....

July 29, 2020

NSE

Nigerian Stock Exchange Proposed Rules for Broker to Fintech Collaborations

The Nigerian Stock Exchange (NSE or the Exchange) recently released its Exposure Draft of the Proposed Rules for Broker to Fintech Collaborations (BFC or Collaboration) (the Proposed Rules). The Proposed Rules seek to regulate...

July 10, 2020

IMTS

Guideline to the provision of International Money Transfer Services in Nigeria – Part B

In Part A of this two-part series on the provision of international money transfer services (IMTS) in Nigeria (access part A here), we considered the regulatory overview of IMTS in...

July 1, 2020

IMTS Guidelines

Guideline to the provision of International Money Transfer Services in Nigeria – Part A

The far-reaching effects of the ongoing COVID-19 pandemic on the global economy have been extensively discussed within the contexts of the technology, business, finance, and energy sectors, as no industry...

April 22, 2020

Video conferencing

COVID-19: Privacy and Security Risks in the use of Video Conferencing Tools

Until recently, hours spent in conference rooms each day were a staple of office life, many organisations heavily relied on physical meetings in order to make day-to-day business decisions, consult...

April 18, 2020

Future of tech

COVID-19: Threat to the Future of Tech?

In his book Need, Speed, and Greed (How the New Rules of Innovation Can Transform Businesses, Propel Nations to Greatness and Tame World’s Most Wicked Problems), Vjay V. Vaitheeswaran highlights...

February 18, 2020

Electronic Signature and Nigeria’s Digital Economy – Key Issues

According to reports by the Nigerian Interbank Settlement System (NIBSS), in the first half of 2018, the value of electronic payment transactions in Nigeria hit a record high of N65.3...

February 4, 2020

2020 Fintech Report

FINTECH FORWARD LOOK 2020

In 2019, Nigeria’s Fintech industry recorded significant growth, this is evident in the establishment of more fintech companies, the development and expansion of incumbent Fintech companies, more innovative solutions and an upward...

December 4, 2020

BOFIA 2020

The Banks and Other Financial Institutions Act 2020 and Impact on Fintech Companies in Nigeria

On 13 November 2020, the President of the Federal Republic of Nigeria signed the Banks and Other Financial Institution Act (2020) (BOFIA or the Act) into law. The Act repealed the extant BOFIA 1991 (as...

September 24, 2020

CBN Guidelines

Overview of the Updated CBN Guidelines for Payment Service Banks

The CBN, in a bid to promote financial inclusion and enhance access to financial services for low income earners and unbanked segments in society, proposed the establishment and licensing of...

September 17, 2020

SEC Statements on Digital Assets

Securities and Exchange Commission’s Statement on Digital Assets

Previously, digital assets such as cryptocurrencies and tokens were unregulated in Nigeria, with regulators taking a cautious approach, and urging the public to tread carefully when investing in such assets....

July 29, 2020

NSE

Nigerian Stock Exchange Proposed Rules for Broker to Fintech Collaborations

The Nigerian Stock Exchange (NSE or the Exchange) recently released its Exposure Draft of the Proposed Rules for Broker to Fintech Collaborations (BFC or Collaboration) (the Proposed Rules). The Proposed Rules seek to regulate...

July 10, 2020

IMTS

Guideline to the provision of International Money Transfer Services in Nigeria – Part B

In Part A of this two-part series on the provision of international money transfer services (IMTS) in Nigeria (access part A here), we considered the regulatory overview of IMTS in...

July 1, 2020

IMTS Guidelines

Guideline to the provision of International Money Transfer Services in Nigeria – Part A

The far-reaching effects of the ongoing COVID-19 pandemic on the global economy have been extensively discussed within the contexts of the technology, business, finance, and energy sectors, as no industry...

April 22, 2020

Video conferencing

COVID-19: Privacy and Security Risks in the use of Video Conferencing Tools

Until recently, hours spent in conference rooms each day were a staple of office life, many organisations heavily relied on physical meetings in order to make day-to-day business decisions, consult...

April 18, 2020

Future of tech

COVID-19: Threat to the Future of Tech?

In his book Need, Speed, and Greed (How the New Rules of Innovation Can Transform Businesses, Propel Nations to Greatness and Tame World’s Most Wicked Problems), Vjay V. Vaitheeswaran highlights...

February 18, 2020

Electronic Signature and Nigeria’s Digital Economy – Key Issues

According to reports by the Nigerian Interbank Settlement System (NIBSS), in the first half of 2018, the value of electronic payment transactions in Nigeria hit a record high of N65.3...

February 4, 2020

2020 Fintech Report

FINTECH FORWARD LOOK 2020

In 2019, Nigeria’s Fintech industry recorded significant growth, this is evident in the establishment of more fintech companies, the development and expansion of incumbent Fintech companies, more innovative solutions and an upward...