Entries by Adeola Oyinlade

International Money Transfer Operator (IMTO) License in Nigeria: Procedure and Requirements under the Updated Guidelines

International Money Transfer Operator (IMTO) License in Nigeria: Procedure and Requirements under the Updated Guidelines Introduction An International Money Transfer Operator (IMTO) is a Central Bank of Nigeria (CBN)-approved firm that facilitates the transfer of monies from persons or entities residing outside of Nigeria to Nigerian nationals. IMTOs are in charge of receiving funds from […]

How to Acquire a Commercial Bank License in Nigeria

Introduction A bank license is a legal document that authorises a financial institution to operate as a bank and conduct banking activities. The bank license shows that the financial institution has met government regulations and requirements to protect its customers’ money and data. It indicates that the bank is safe and secure for customers to […]

The Procedure and Requirements for Obtaining a Telecommunication License in Nigeria

Introduction Telecommunication licenses are indispensable for any entity wishing to provide communication services in Nigeria. The NCC is responsible for issuing these licenses, ensuring that operators comply with legal and regulatory standards. The licensing framework is designed to promote fair competition, protect consumers, and enhance the quality of telecommunication services. This article summaries the procedure […]

Types of Fintech Licenses Required for Operation in Nigeria

Introduction Financial technology, generally referred to as “Fintech”, is a thriving business that applies technology. Leveraging innovation to improve financial services, cut transaction costs, and increase access to financing. Smartphones enabled financial breakthroughs like mobile banking. Fintech is disrupting traditional financial markets, including capital market trade. The banking industry prioritizes technology innovation more than ever […]

Doing Business in Nigeria: A Guide to Foreign Investors

Nigeria is a developing capitalist economy. Free enterprise is the norm but there are some important sectors like Electricity and Water that are partially owned and controlled by the government. Most of Nigeria’s economic activities occur in the major metropolitan areas such Abuja, Lagos, Kano, Onitsha, and Port Harcourt. Oil and Gas is the major […]

How to Choose the Best Law Firm for Your Business in Nigeria

Introduction A law firm is a business that offers legal representation and advice to clients. It can assume a variety of organisational forms, including partnership, limited liability partnership, professional corporation or sole proprietorship. A law firm’s major duty is to practice law by employing lawyers that specialise in various legal fields such as corporate and […]

Procedure and Requirements for Work Permit and Visas in Nigeria

Introduction Foreign nationals seeking to enter, work, or reside in Nigeria must meet the country’s Immigration Rules. The Nigeria Immigration Regulations on work permits are outlined in the Immigration Act 2015 and the Immigration Regulations 2017. The agency responsible for issuing work permits to aliens is the Nigeria Immigration Service. Definition of work permit Section […]

The Use of Drones for Commercial Purposes and Privacy Rights of Others

Introduction In the field of innovative technology, drones are used in different spheres of human activities. Drones can be used to handle complex jobs, offer security, conduct surveillance and collect information. However, the employment of drones can pose challenges from the point of standpoint of human rights and privacy, which raises the question of the […]

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