Legislative Inaction and the Enforcement of Constitutional Governance in Nigeria Or (Can Nigerian Legislators Be…
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Legislative Inaction and the Enforcement of Constitutional Governance in Nigeria
Legislative Inaction and the Enforcement of Constitutional Governance in Nigeria Or (Can Nigerian Legislators Be Sued for Failure to Perform Their Constitutional Duties?) 1. Introduction The National Assembly of Nigeria is vested with immense constitutional powers under the 1999 Constitution of the Federal Republic of Nigeria (as amended). From making laws under Section 4, to performing oversight functions over the executive under Sections 88 and 89, the legislature occupies a central role in Nigeria’s democratic […]
The Nigerian Insurance Industry Reform Act 2025 and the Race to Meet New Thresholds
Capital or Collapse? The Nigerian Insurance Industry Reform Act 2025 and the Race to Meet New Thresholds Abstract The Nigerian Insurance Industry Reform Act 2025 (NIIRA 2025) represents the most aggressive regulatory intervention in the insurance sector since the Insurance Act 2003. Responding to chronic undercapitalisation, low penetration (0.3% of GDP), and numerous insolvencies, the National Assembly has mandated a multi‑tier minimum capital framework that raises requirements by between 200% and 500%, depending on class […]
The Investment and Securities Act 2025 and Nigeria’s New Takeover, Merger, and Restructuring Regime
M&A Reimagined: The Investment and Securities Act 2025 and Nigeria’s New Takeover, Merger, and Restructuring Regime Abstract The Investment and Securities Act (ISA) 2025, which repealed the ISA 2007, represents the most significant overhaul of Nigerian capital market and mergers & acquisitions (M&A) regulation in nearly two decades. This article examines the Act’s modernisation of the legal framework for takeovers, mergers, and corporate restructurings. Key innovations analysed include: the introduction of a mandatory squeeze‑out and […]
Expanding the Net on Non‑Resident Digital Companies
The Force of Attraction Principle in Nigeria’s 2025 Tax Reform: Expanding the Net on Non‑Resident Digital Companies Abstract Nigeria’s 2025 tax reform package introduces a radical departure from traditional source‑based taxation. The new “Force of Attraction” principle, embedded within the Nigeria Tax Act 2025, redefines the taxable presence of non‑resident companies (NRCs) operating through digital or intermediary channels. Note: This article examines the statutory framework for Significant Economic Presence (SEP) and the mechanics of the Force of Attraction rule. This […]
Retroactive Application of CAMA 2020’s Single‑Shareholder Provisions and the Transformation of Nigerian Company Law
One Is the New Many: Retroactive Application of CAMA 2020’s Single‑Shareholder Provisions and the Transformation of Nigerian Company Law Abstract The Companies and Allied Matters Act (CAMA) 2020 revolutionised Nigerian corporate law by permitting a single person to form and operate a private company, a departure from the previous minimum of two shareholders. Less noticed, however, is the Act’s retroactive application of this single‑shareholder regime to companies incorporated before 2020. Through a combination of transitional provisions and judicial interpretation, thousands of […]