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THE IMPLICATION OF LIMITATION OF CASH WITDRAWALS/DEPOSITS: PROS & CONS.
On the 6th day of December, 2022 the Central Bank of Nigeria (CBN) issued a circular directing Deposit Money Banks, Payment Service of Bank (PSB) and other financial Institutions limiting cash withdrawal by customers from their accounts.
Our corporate commercial practice group recently reviewed the legal framework of this regulation from a pros and cons perspective.
Click to read the full article
The Petroleum Industry Act, 2021 occasioned the restructuring of the petroleum industry into two main sectors: Upstream sector and Midstream and Downstream sector, by establishing two principal regulatory bodies: Nigerian Upstream Petroleum Regulation Commission (The Commission) and the Nigerian Midstream and Downstream Regulatory Authority (The Authority) to regulate the technical, commercial and operational activities within the sectors.
2024-01-19
The contributory pension scheme (CPS) is an arrangement whereby employees and employers are mandated to collectively contribute a percentage of an employee’s emolument from where the employee will be paid retirement benefits. The Scheme (CPS) was established by Section 3 of the Pension Reform Act, 2014 and is regulated by the National Pension Commission. The scheme guarantees protection of the pension assets as same survives the deceased, cannot be seized, sold or be granted as loan neither can same be used to satisfy a judgement debt.
2022-07-30
