Newsletter
NGX Impact Board: A Platform for Sustainable Investments
The Impact Board provides a transparent avenue for raising capital for sustainable projects aligned with the SDGs and the Paris Agreement. It supports the listing of Green Bonds, Social Bonds, Sustainability Bonds, Blue Bonds, Climate Bonds, and Gender Bonds, attracting foreign and multilateral investments to advance Nigeria’s climate and development goals. The Impact Board aims to not only benefit issuers and investors but also support Nigeria’s progress in achieving Nationally Determined Contributions (NDCs) on climate change.
COURT NULLIFIES KEY PROVISIONS OF NIGERIA DATA PROTECTION COMMISSION (NDPC) GUIDANCE NOTICE.
On February 14, 2024, the Nigeria Data Protection Commission (NDPC) issued a Guidance Notice (“the Notice”) on the registration of Data Controllers and Data Processors of Major Importance (DCPMI) pursuant to Sections 5(d), 6(c), 44, 45, and 65 of the Nigeria Data Protection Act (NDPA) 2023. The Notice mandated registration with the NDPC by June 30, 2024, which was later extended to September 30, 2024.
Introduction of the Electronic Foreign Exchange Matching System (‘EFEMS’) by the Central Bank of Nigeria.
This initiative aims to enhance the efficiency and transparency of foreign exchange transactions in the Nigerian interbank market through transparent and automated matching of trades. As a precursor, the CBN issued a circular on October 2, 2024 to introduce the EFEMS, followed by the release of the Guidelines for the Electronic Foreign Exchange Matching System (‘the EFEMS Guidelines’) on November 25, 2024.
SPOTLIGHT ON NIGERIA’S FOREIGN CURRENCY
Spotlight on Nigeria’s New Foreign Currency Disclosure and Repatriation Scheme