Transforming Land Administration in Nigeria: The Power of Blockchain Technology
In Nigeria, the complex nature of land administration presents a challenge that hinders economic growth and the optimal utilization of land resources. The process encompasses a variety of activities such as land acquisition, surveying, mapping, registration, and the issuance of titles. Efficient land administration is fundamental to unlocking the real estate sector’s full potential, attracting […]
Unlocking Nigeria’s Digital Future: A Strategic Blueprint Through the National Blockchain Policy
In an era where digital transformation shapes economies and societies alike, technology offers nations unprecedented opportunities to redefine their economic landscapes. Nigeria, with a vibrant population of over 200 million and substantial untapped potential, has recognized blockchain technology as a powerful tool to drive innovation, enhance efficiency, and build a resilient digital economy. By launching […]
Am I legally married under Nigerian Law? the interplay between customary and statutory Marriages in Nigeria
The article delves into the legal complexities surrounding marriages in Nigeria; a culturally diverse nation with rich traditions. It highlights the significance of Nigerian laws governing marriage, focusing on the Marriage Act and the Matrimonial Causes Act.
Technology Regulatory Report Q1 2024
The first quarter of 2024 witnessed a significant amount of regulatory activity within the fintech industry, marked by the issuance of numerous laws, regulations, frameworks, circulars, draft instruments, and more. We have compiled a summary of these instruments in the Perchstone & Graeys Tech Regulatory Report for Q1 2024.
Perchstone & Graeys Tech Regulatory Report for Q2 2023
The second quarter of 2023 was remarkable due to the change in government in Nigeria at
the national level following the last general elections. In this report, we highlight fintech-
related laws, regulations, frameworks, circulars, draft instruments, etc. which were issued
by regulators in the second quarter of 2023.
Private Blockchain Independent of Public Land Administration
According to Businessday’s publication of June 14, 2021, opportunity in the Nigerian real estate industry is worth an estimated US$56billion. And yet, the potential has barely scratched the surface of possibility. Contemporary real estate deals are limited to the most basic transactions conducted by the brave, at considerable risk. Unreliable record keeping is widespread across the country, and unscrupulous middlemen make it difficult for stakeholders to make informed commercial decisions.
Tech Regulatory report Q4 2023
The year 2023 marked another historic period for Nigeria, serving not only as an election year
but also witnessing a surge in regulatory activities within the fintech sub-sectors. Notable
among these initiatives is the CBN Circular dated June 22, 2023, titled “Guidance Note on
Politically Exposed Persons (PEPs),” which introduces measures to mitigate potential money
laundering. Additionally, the CBN issued a Press Release to Authorized Dealers and the public
in June 2023, announcing operational changes to the Nigerian Foreign Exchange Market.
These changes resulted in the consolidation of all segments in the foreign exchange market in
Nigeria into the Investors’ and Exporters’ Window (I&E Window). Other significant
developments include the enactment of the Nigerian Data Protection Act, 2023, the
formalization of the Copyright Act 2022, and the launch of the Licensing, Approvals, and
Other Requests Portal (LARP) for Micro-Finance Bank Licenses by the CBN.
Resolving Persistent Frictions Between the Music Label Companies and the Artists
The music industry thrives on the creativity and talent of artists who bring melodies, lyrics,
and emotions to life. However, an ongoing issue that persists in this industry involves the
frictions between artists and music label companies. These frictions primarily revolve
around issues of fairness, transparency, and the distribution of power and revenue. In this
article, we will explore some of the key challenges faced by artists and propose potential
solutions to bridge these gaps and foster healthier relationships within the music industry.
Overview of the salient provisions of the nigeria data protection act, 2023
The Nigeria Data Protection Act, 2023 (“NDPA”) was signed into law on June 12, 2023, by
President Bola Ahmed Tinubu. Prior to the enactment of the Act, the Nigeria Data
Protection Regulation of 2019 regulated data protection in Nigeria.
Technological advancements have created an increased need for the security and protection
of personal data. The main objective of the Act is to safeguard the fundamental rights,
freedom and the interest of data subjects as guaranteed under the Constitution of the Federal
Republic of Nigeria, 1999
1
. The Act further establishes the Nigeria Data Protection
Commission
2 with functions geared towards effecting implementation, enforcement and
actualization of the objectives of the Act. This article presents an overview of the salient
provisions of the Act.
Review of CBN operational changes on the foreign exchange market
In a bid to address the extant economic gaps that exist in the Nigerian Foreign Exchange
Market (the “FX Market”), the Central Bank of Nigeria (“CBN”) released a circular
dated June 14, 2023 titled “Operational Changes to the Foreign Exchange Market” (the
“Circular”). This Circular introduces notable changes to the country’s FX Market and its
operations. The purpose of this paper is to highlight the changes and impact of the
introduced changes on the foreign exchange market as well as its interplay with the
Nigerian economy.