Nigeria’s removal from the FATF grey list marks a major boost to its financial credibility, restoring investor confidence and easing access to global markets. The move reflects stronger anti-money-laundering and counter-terrorist-financing reforms, paving the way for increased foreign investment, lower compliance burdens, and deeper participation in Nigeria’s financial and business sectors. Organisations are encouraged to reassess Nigeria’s risk profile, strengthen internal compliance, and tap into new opportunities across fintech, energy, manufacturing, and global trade. For further guidance, contact info@greychapellegal.com.

Effective 19 Sept 2025, GAID 2025 replaces the NDPR 2019 under the Nigeria Data Protection Act 2023. It introduces new data controller categories (UHL, EHL, OHL), mandates annual audits, qualified DPOs, and impact assessments for high-risk activities. It also covers foreign entities targeting Nigerians, strengthens individual rights, and sets fines up to ₦10m or 2% of revenue. Action: Register with NDPC, appoint a DPO, update policies, and train staff. Contact info@greychapellegal.com for guidance.

This report offers a comprehensive review of Nigeria’s current economic and political developments, with a focus on the reforms and structural shifts shaping the nation’s future. It highlights issues of governance, financial regulation, investment climate, and socio-economic growth, while situating Nigeria within broader global trends. The analysis provides stakeholders with critical insights into the opportunities and challenges that define this new era for the country.

The document outlines key updates from FMDQ’s new framework, focusing on regulatory changes, compliance requirements, and structural adjustments affecting financial market operations. It serves as a concise reference guide for stakeholders, highlighting implications for market participants and providing practical insights for alignment with the updated standards.

President Bola Tinubu signed four tax reform bills into law on June 26, 2025, aimed at creating a unified and transparent tax system in Nigeria. The laws, effective January 1, 2026, include the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill. Key reforms include merging tax statutes, aligning federal, state, and local tax operations, and replacing the Federal Inland Revenue Service (FIRS) with the Nigeria Revenue Service (NRS). Businesses are advised to update systems, review strategies, and stay informed about the transition. Greychapel Legal offers support for compliance and restructuring.

Open banking is a banking system that allows customers to authorize regulated financial institutions to access their personal financial data, including account balances, transaction histories, and spending patterns through standardized Application Programming Interfaces (APIs). This system recognises customers as rightful owners of their financial data and grants them the right to authorise service providers to access this data for tailored financial services and products. Open Banking promotes financial transparency, foster innovation, and improve customer experience by enabling seamless and secure data sharing across banks and other financial institutions .