One of the trends in electronic communication in today’s world is the use of emoji. An emoji has been defined as “a digital image that is added to a message in electronic communication in order to express a particular idea or feeling.”
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Technology Law
July 22, 2023
How the Use of Emoji in Electronic Communication Can Lead to a Binding Contract
Regulatory Compliance
Startup Law
Startups
Technology Law
February 24, 2023
The Nigerian Startup Act 2022: Prospects for Startups in Nigeria and Potential Pitfalls
Gabriel Eze, Associate and Tobechukwu Ndunagu, Lead Associate Introduction According to Statista’s startup ecosystem index score, Nigeria is the second-leading country for startups after South Africa, with Lagos as one of the leading cities in Africa. By its February 2022.. Read more
Blockchain Technology
Regulatory Compliance
Technology Law
January 1, 2023
A Rundown of Crypto Regulations Around the World in 2022
Given the high rate of regulation in the preceding year, 2022 started on a promising note for the crypto industry, with a total market cap of $2.2 trillion on January 1. At the time of writing, global market cap is about $810 billion, representing a drop of over $1.3 trillion. This is huge. And this perhaps demonstrates why crypto regulation is vital. Consumer protection and investor safety must be safeguarded. Here’s a rundown of crypto regulations around the world in 2022.
Corporate Law & Practice
Industry Insight
Regulatory Compliance
Technology Law
September 28, 2022
International Businesses in the Digital Economy: Why Nigeria Adopted its Significant Economic Presence (SEP) Rules over OECD’s Corporate Tax Agreement
In this article, Jude Ayua briefly highlights and discusses the provisions of the OECD framework on base erosion, profit sharing, and taxation of international businesses in the digital economy, the three reasons why the FIRS rejected it, and the four steps FIRS has taken to ensure that Nigeria’s revenue is not hurt by its decision.
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
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.
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
Blockchain Technology
Industry Insight
Regulatory Compliance
Technology Law
August 6, 2020
Deal or no deal, cryptocurrency transactions remain legal in Nigeria and environs.
In the inaugural edition of Blockchain Street, we considered whether blockchain technology—a decentralized ledger technology which has been described as a ‘trustless technology’—can really solve the problem of trust in a centralized world. In the month of July, we consider the.. Read more
Blockchain Technology
Industry Insight
Technology Law
June 5, 2020
Blockchain Technology: Can it really solve the problem of trust in a centralized world?
Introducing Blockchain Street, a monthly walk into an emerging decentralized economy powered by the blockchain. In this month’s Blockchain Street, we consider whether blockchain technology—a decentralized ledger technology which has been described as a ‘trustless technology’—can really solve the problem.. Read more
Data Protection and Privacy
Industry Insight
Technology Law
July 15, 2019
Nigeria: New regulation demonstrates a serious approach to data protection
This is a fresh piece published by DataGuidance by OneTrust. It is written by our Lead Partner Senator Iyere Ihenyen who is Nigeria’s expert contributor to DataGuidance by OneTrust. Excerpt “On 25 January 2019, the National Information Technology Development Agency.. Read more