The Central Bank of Nigeria (the “CBN”) through a press release dated September 20, 2023 announced the launch of the Licensing, Approvals and Other Requests Portal (LARP). The LARP is developed to digitise the application process for licences, approvals and other requests granted by the CBN. The goal is for the LARP to eventually replace the current manual process wherein prospective applicants for a CBN licence physically submit their applications to the CBN.
The first step in establishing a business in Nigeria is selecting the most appropriate business structure. The most common structure for foreign-owned businesses in Nigeria is a private limited liability company. This structure provides a separate legal entity, limited liability protection, and flexibility in ownership and management.
The world is rapidly shifting into a cashless system. Even with this change, cash is still widely used in most countries, just like in Nigeria where it is the mainstay for a majority of its population of over 200 million people. This means that currency management services, especially with respect […]
Looking at stats from Crunchbase, VCs have invested over $10.5 billion in early stage investment in the entertainment sector globally over the last decade. Not many of these investments were made in African entertainment companies even with the growth experienced in the sector within the same period. With a preference […]
The global startup ecosystem is growing at fast pace. In Africa, it is faster than ever before. There is ever increasing innovation, and investors are ready to put in good capital to bring the next big innovation into profitability. This is largely influenced by growth in the global information technology […]
Imagine that you run an e-commerce business established in Nigeria. Let’s call the platform Buymore. Buymore records about 100,000 trades daily. In Nigeria, Buymore has about 100 warehouses from where it stores, packages and delivers goods to customers. You decide to establish similar structures in Ghana, Kenya and South Africa. You also […]
Legal and Market Entry Considerations For Investment in the Nigerian Mining and Solid Minerals Sector
Nigeria is a rich diverse country with a host of natural resources. It is a country with a lot of solid minerals, many of which are found in industrial quantities. With about 34 different solid minerals, the sheer size of Nigeria makes the prospect for exploration and mining of natural […]