In this article by Gabriel Eze, we consider part by part the provisions of NITDA’s draft Code of Practice for Interactive Service Computer Platforms and Digital Intermediaries (draft Code of Practice). looking at both sides of the coin as well as the edge.
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Industry Insight
Startup Law
Technology Law
September 24, 2022
What Digital Platforms and Intermediaries Should Know about NITDA’s Code of Practice for Nigeria’s Digital Space
Blockchain Technology
Technology Law
July 2, 2022
The Role of Centralized Crypto Exchanges in Sanitizing the Crypto Market: Lessons For Nigeria
According to the Chainalysis Crypto Crime Report 2022, about $8.6bn worth of cryptocurrency were laundered in 2021, which means a 30% increase from the 2020 report.
As we observed in the introductory paragraphs, KYC, AML/CFT controls are some of the effective ways centralized exchanges are combating fraud and other criminal activities like money laundering, terrorism financing, scams, ransomware, etc. To set up adequate rules and protocols, centralized exchanges often rely on the services of data analytics experts (including legal experts) to ensure that where and when necessary, there is due compliance with the law and relevant rules and regulations in operation within a given jurisdiction as well as international standards and practices.
Blockchain Technology
Startups
Technology Law
June 2, 2022
Crypto Lending: Using Cryptocurrency as Security for Fiat Loans and the Status of Cryptocurrency in Nigeria
Stephen Azubuike Introduction Beyond the mere promise to repay loans, prudent business entities and financial institutions generally rely on security in advancing loans to borrowers. The idea of security is the underlying assurance tied to something of value which flows.. Read more
Data Protection and Privacy
Tech Entrepreneurs
August 26, 2021
NITDA fines Sokoloan N10 Million for privacy invasion: Lessons for Businesses that Control Personal Data in Nigeria
by Gabriel Eze, Associate Privacy breaches by online lending platforms; the new normal that must be curbed? Data-privacy breaches by a number of online lending platforms in Nigeria appear to be the new normal that must be curbed… Read more
Startup Law
Startups
Tech Entrepreneurs
June 24, 2021
Incorporating your company in the US
Whether it is in Delaware, Wyoming, or other states in the US, incorporating a US company for your business is at your fingertips Many entrepreneurs and innovators, for various reasons, are increasingly looking to incorporate their companies in the US… Read more
Startups
Tech Entrepreneurs
June 24, 2021
The Phoenix—incorporate your company abroad
Incorporating your company abroad with the structure used by the most innovative companies in the world. As an entrepreneur or innovator in today’s global economy, incorporating your company in the most friendly and suitable jurisdictions in the world has become.. Read more
Industry Insight
Regulatory Compliance
Startups
Tech Entrepreneurs
June 4, 2021
Crowdfunding portals and digital commodities investment platforms in Nigeria: Before crowdfunding is crowded out
by Senator Ihenyen, Lead Partner Download the PDF version here. Introduction Crowdfunding today is no longer charity. It is serious business. And the ever-growing digital economy has been a big part of this. New business models as well as.. Read more
Blockchain Technology
Startup Law
Tech Entrepreneurs
May 31, 2021
Blockchain & Cryptocurrency Business in Nigeria: Legal Compliance & Business Considerations
by Gabriel Eze, Associate Photo by André François McKenzie on Unsplash Legal compliance is key to building and sustaining a reputable brand Understanding the legal terrain where a business is or will be located and complying with its legal requirements.. Read more
Intellectual Property
May 7, 2021
Michael Jackson: Brand Name and Image Valued by the Jackson Estate at the Price of a Heavily Used 20-year-old Honda Civic
IP Matters by Senator Ihenyen, Lead Partner If you consider it unbelievable that the brand name and image of Michael Jackson was recently valued at $2,105—the price of a heavily used 20-year-old Honda as put by the U.S. Tax.. Read more
Data Protection and Privacy
May 6, 2021
A Precaution to Businesses that Control Personal Data: NITDA’s N5million fine against Electronic Settlement Limited as a Case in Point
by Gabriel Eze, Associate The National Information Technology Development Agency (NITDA) is a data protection authority in Nigeria. It issued the Nigeria Data Protection Regulation 2019 (the ‘NDPR’). The NDPR requires data controllers that process personal data that meet certain.. Read more