The Current State of Lottery and Gaming Regulation in Nigeria

February 26, 2025 | | Uncategorized

In a landmark decision on November 22, 2024, the Supreme Court of Nigeria fundamentally reshaped the regulatory landscape of the country’s gaming industry. The Court ruled that the National Assembly lacked the constitutional authority to legislate on lottery and gaming activities, rendering the National Lottery Act of 2005 void. This judgment effectively transfers regulatory control from the federal government... Read More

Understanding the Licensing Requirements for Banks in Nigeria

February 4, 2025 | | Banking and Finance, Uncategorized

In Nigeria, the financial sector is regulated by the Central Bank of Nigeria (CBN) to ensure stability, transparency, and integrity. Various types of financial institutions, including commercial banks, merchant banks, specialized banks, microfinance banks, and fintech services, must meet specific licensing requirements to operate legally. The CBN issues three primary banking licenses: Commercial Banking, Merchant Banking, and Specialized Banking.... Read More