13 September

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Investment Opportunities Under the New Regime of the Electricity Sector

The Nigerian electricity market is on the brink of transformation with the enactment of the new Electricity Act 2023, which replaces the Electric Power Sector Reform Act (EPSRA) of 2005. This legal overhaul is designed to foster a more competitive, decentralized, and sustainable electricity market. Nigerian Electricity Regulatory Commission (NERC) has been creating and enforcing policies in the light of the new electricity regime in Nigeria. The framework opens the door to a myriad of investment opportunities for both local and international investors. We will be examining successful case studies from around the world, investors can glean valuable insights into...

03 September

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TRANSITION TO STATE ELECTRICITY MARKETS IN NIGERIA

Posted by Morgan Cole Partners

in Legal Advice

Introduction The Nigerian Electricity Supply Industry (“NESI”) is currently undergoing a transition as sub nationals based on recent constitutional amendment[1] to establish and regulate their own electricity markets. This was further strengthened by the enactment of the Electricity Act of 2023 which was assented to by President Bola Ahmed Tinubu. Consequent upon the foregoing, the Nigerian Electricity Regulatory Commission (“NERC”) has granted regulatory approvals to six states — Enugu, Ekiti, Ondo, Imo, Oyo and Edo, which marks a significant milestone in the decentralization of Nigeria's power sector. This transition offers opportunities for states to craft policies that enhance energy access, stimulate...

19 July

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MONEY LENDING SERVICES IN NIGERIA

Posted by Morgan Cole Partners

in Legal Advice, Pro Bono Work, Training

Introduction Money lending in Nigeria has transitioned from traditional banking to a more flexible, technology-driven system. This evolution, which includes FinTechs and other digital companies, offers increased convenience, speed, and efficiency. As the money lending landscape has changed, the need to regulate these entities and their interactions with borrowers has become crucial. This paper outlines key regulatory and compliance considerations for establishing and operating money lending businesses in Nigeria. Who Can Offer Money Lending Services in Nigeria? In Nigeria, money lending services can be offered by various entities, including: Deposit Money Banks (DMBs) Microfinance Banks (MFBs) Finance companies Cooperative societies Financial technology companies operating...

20 May

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The National Cyber Security Fund – A Brief Overview

Posted by Morgan Cole Partners

in Legal Advice, Pro Bono Work

The Cybercrime (Prohibition, Prevention, etc) Act 2015 (as amended) was first passed into law in Nigeria in May 2015. The Act was deemed necessary as a result of the ever-rising influence of technology and the realization that 21st century technology, especially easy-to-access social media could, as much as it was a way of bringing the world together for ease of communication and business, also be a breeding and fertile ground for scams, frauds, bullying and other related illegal activities. This fertile ground for illegal activities has actually been on a constant rise since the late 1990s, when online scams started...

13 November

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UNLOCKING NIGERIA’S ENERGY TRANSITION POTENTIAL

Posted by Morgan Cole Partners

in Cultural Schemas, High Pressure, Legal Advice, Necessary Forms, Pro Bono Work, Training, Uncategorized

Nigeria, with its vast energy resources, is at a crucial crossroads in its journey towards cleaner and more sustainable energy sources. In 2022, the nation launched its much-anticipated Energy Transition Plan, aiming to reduce emissions and harness the power of natural gas. However, despite decades of planning, only a mere $1 billion of the planned $80 billion has been committed to these transformative projects. Civil society organizations, including the African Initiative for Transparency, Accountability, and Responsible Leadership, and the Natural Resource Governance Institute, came together in a policy dialogue in Abuja. Their message was clear: Nigeria declared the 2020s as the...

01 September

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Host Community Rights Under the Petroleum Industry Act in Nigeria: The Journey So Far – Stanley Negbenebor & Prisca Enwerem

Posted by Morgan Cole Partners

in Legal Advice, Training

In Nigeria, the issue of host community rights has gained significant attention due to the nation's reliance on natural resources, particularly in the oil and gas sector. The exploration and extraction of these resources often occur in regions inhabited by host communities, raising concerns about their rights, compensation, and overall well-being. Over the years, the Nigerian government has implemented various laws and regulations to address these concerns and ensure that host communities are adequately protected and compensated for the use of their land and resources. Host communities hold a pivotal role in the success of Nigeria's petroleum industry operations, with their...

01 September

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Executive Summary of the Evidence Act 2023

Posted by Morgan Cole Partners

in Legal Advice, Training

GENERAL OVERVIEW OF THE EVIDENCE ACT The Evidence Act generally is a law that provides guidelines for how evidence should be collected, presented, and weighed in both civil and criminal cases in Nigeria. The Nigerian Evidence Act outlines various types of evidence, including oral testimony, documents, electronic records, and expert opinions amongst other provisions. It establishes rules for the examination and cross-examination of witnesses, the authentication of documents, and the criteria for admitting or excluding evidence based on factors such as relevance, authenticity, and hearsay. Section 1 is the amendment clause and it states that the Evidence Act, 1990 “the...

17 August

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A REVIEW OF THE NIGERIA STARTUP ACT 2022

Posted by Morgan Cole Partners

in Legal Advice, Training

By Temituope Kekema ABSTRACT The advancement of digital technology is a contemporary trend of the 21st century. Digital technology entrepreneurship has become a popular line of business both domestically and globally. The Nigeria Startup Act (the Act) was invented to promote digital technology and innovation entrepreneurship in Nigeria. It was passed to provide a legal framework to promote startups and eliminate the clogs in the wheel of their development. This paper reviewed key provisions of the Act and highlighted its contribution to the advancement of Digital technology startups in Nigeria. The Act addressed several issues that directly affect the advancement of startups...

17 August

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A REVIEW OF THE MONEY LAUNDERING ACT 2022

Posted by Morgan Cole Partners

in Legal Advice

Abstract President Muhammadu Buhari, on 12th May, 2022, signed the Money Laundering (Prevention and Prohibition) Act, into law to address the lethal effect of money laundering activities and related crimes in Nigeria and ensure compliance with international anti-money laundering instruments, best practices and standards spearheaded by the Financial Action Task Force. The Act repealed the Money Laundering (Prohibition) Act, No. 11, 2011 to provide an effective and comprehensive legal and institutional framework, for the prevention, prohibition, detection, prosecution and punishment of money laundering and other related offences in Nigeria. Equally, it established the Special Control Unit Against Money Laundering under the...

17 August

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