Olaniwun Ajayi LP

November 8, 2022

CBN Issues Draft Guidelines on Contactless Payments in Nigeria

Contactless payment is the system by which devices that have radio-frequency identification or near-field communication are used for making secure payments. The CBN recently issued the Draft Guidelines on Contactless...

October 31, 2022

The Nigeria Startup Act 2022: Highlights of its Framework and Notes on its Prospects

On 19 October 2022, the President of the Federal Republic of Nigeria gave his assent to the Nigeria Startup Bill 2021, effectively signing it into law as the Nigeria Startup...

October 27, 2022

Newsletter on the Securities and Exchange Commission (Capital Market Operators AML/CFT) Regulations 2022

In exercise of its powers to protect the integrity of the securities market against all forms of abuse, fraudulent and unfair trade practices, the Securities and Exchange Commission (SEC) reviewed,...

May 27, 2022

Newsletter on the CBN Draft Operational Guidelines for Open Banking in Nigeria

In February 2021, the Central Bank of Nigeria (CBN) released the Regulatory Framework for Open Banking in Nigeria (the Open Banking Framework) which establishes principles for data sharing across the...

May 23, 2022

Newsletter on the New SEC Rules on Issuance, Offering Platforms and Custody of Digital Assets

In April 2022, the Securities and Exchange Commission (the SEC) released its Proposed Rules on the Registration of Virtual Asset Service Providers and the Proposed Rules on the Issuance, Offering...

May 12, 2022

Newsletter on SEC Proposed Rules on Issuance, Offering Platforms and Custody of Digital Assets

The Securities and Exchange Commission (SEC) has recently issued its Proposed Rules on Issuance, Offering Platform and Custody of Digital Assets (the Proposed Rules). This is following the SEC’s press...

May 11, 2022

Newsletter on SEC Proposed Rules for Registration of Virtual Asset Service Providers

In 2020, the Securities and Exchange Commission (SEC) expressed its intention to regulate the virtual assets when it released the “Statement on digital assets and their Classification and Treatment”. However,...

October 27, 2021

Newsletter on the CBN Revised Regulatory Framework for Bank Verification Number (BVN) Operations and Watch-List for the Nigerian Banking Industry

Pursuant to a circular dated 12th October 2021, the CBN has issued a revised Regulatory Framework for BVN Operations and Watch-List for the Nigerian Banking Industry (the Revised Regulatory Framework)....

October 18, 2021

Newsletter on the eNaira Draft Regulatory Guidelines

In an attempt to provide legal and regulatory clarity on the proposed eNaira, the CBN has prepared the draft Regulatory Guidelines on eNaira (Draft Guidelines). Upon its issuance by the...

October 13, 2021

Digital Banking in Nigeria: The State of Play and Legal Framework

In Part A of this Article, we examined the value proposition and factors driving the adoption of digital banking in Nigeria including the challenges facing the sector. Part B of...

November 8, 2022

CBN Issues Draft Guidelines on Contactless Payments in Nigeria

Contactless payment is the system by which devices that have radio-frequency identification or near-field communication are used for making secure payments. The CBN recently issued the Draft Guidelines on Contactless...

October 31, 2022

The Nigeria Startup Act 2022: Highlights of its Framework and Notes on its Prospects

On 19 October 2022, the President of the Federal Republic of Nigeria gave his assent to the Nigeria Startup Bill 2021, effectively signing it into law as the Nigeria Startup...

October 27, 2022

Newsletter on the Securities and Exchange Commission (Capital Market Operators AML/CFT) Regulations 2022

In exercise of its powers to protect the integrity of the securities market against all forms of abuse, fraudulent and unfair trade practices, the Securities and Exchange Commission (SEC) reviewed,...

May 27, 2022

Newsletter on the CBN Draft Operational Guidelines for Open Banking in Nigeria

In February 2021, the Central Bank of Nigeria (CBN) released the Regulatory Framework for Open Banking in Nigeria (the Open Banking Framework) which establishes principles for data sharing across the...

May 23, 2022

Newsletter on the New SEC Rules on Issuance, Offering Platforms and Custody of Digital Assets

In April 2022, the Securities and Exchange Commission (the SEC) released its Proposed Rules on the Registration of Virtual Asset Service Providers and the Proposed Rules on the Issuance, Offering...

May 12, 2022

Newsletter on SEC Proposed Rules on Issuance, Offering Platforms and Custody of Digital Assets

The Securities and Exchange Commission (SEC) has recently issued its Proposed Rules on Issuance, Offering Platform and Custody of Digital Assets (the Proposed Rules). This is following the SEC’s press...

May 11, 2022

Newsletter on SEC Proposed Rules for Registration of Virtual Asset Service Providers

In 2020, the Securities and Exchange Commission (SEC) expressed its intention to regulate the virtual assets when it released the “Statement on digital assets and their Classification and Treatment”. However,...

October 27, 2021

Newsletter on the CBN Revised Regulatory Framework for Bank Verification Number (BVN) Operations and Watch-List for the Nigerian Banking Industry

Pursuant to a circular dated 12th October 2021, the CBN has issued a revised Regulatory Framework for BVN Operations and Watch-List for the Nigerian Banking Industry (the Revised Regulatory Framework)....

October 18, 2021

Newsletter on the eNaira Draft Regulatory Guidelines

In an attempt to provide legal and regulatory clarity on the proposed eNaira, the CBN has prepared the draft Regulatory Guidelines on eNaira (Draft Guidelines). Upon its issuance by the...

October 13, 2021

Digital Banking in Nigeria: The State of Play and Legal Framework

In Part A of this Article, we examined the value proposition and factors driving the adoption of digital banking in Nigeria including the challenges facing the sector. Part B of...