KNOW THE LAW

1.What is Contactless Payment? Contactless payment refers to a method of payment which enables consumers  to make payment for goods and services by tapping a contactless payment enabled credit card, smart card or device over a contactless- enabled payment terminal. It provides an…

Introduction In recent times, startups and financial servicing companies around the world have been sanctioned for breach of money laundering regulations. The use of digital platforms for the concealment of origin of funds obtained from illicit activities is also on the rise, which…

The National University Commission (NUC) is the statutory body regulating the procedure to open a private university in Nigeria. The NUC is empowered by the provisions of National Universities Commission Act 1974 and Education (National Minimum Standards and Establishment of Institutions) Act…

Forming a Political Party in Nigeria involves having an association of members constituted and ready for the proposed party to participate in an election. Any Individual who intends to run a political office must be a registered member of a Political Party…

The National Broadcasting Commission is the broadcast regulator of the Federal Republic of Nigeria. The National Broadcasting Commission is a parastatal of the Federal Government of Nigeria established by Section 1 of the National Broadcasting Commission Act, Cap. NII, laws of the Federation,…

An application software (app) is a program or group of programs designed to help customers perform particular activities. These apps, which are usually on our electronic devices, are used to control several things ranging from health & fitness, music, movies, online shopping,…

The private security guard companies are supervised by the Nigerian Security and the Civil Defense Corps (NSCDC). The procedure for how to register a security guard company in Nigeria must be commenced with the registration of a private limited liability company. Most individuals…

The National Pension Commission recently approved the guidelines to access Retirement Savings Account balance for payment of equity contribution for residential mortgage by RSA holders. The approval was in line with Section 89 (2) of the Pension Reform Act 2014, which allows RSA…

Investment bank is a type of bank that acts as an intermediary that undertakes large and complex financial transactions on behalf other companies or government. Such financial transactions include underwriting/ issuing house for securities issuing companies and investors, facilitating merger of 2 competitors,…

Introduction With the rapid growth of technology, Start-ups have continually found ways to improve financial services. This trend has been matched by the growing appetite of consumers globally, for faster and more convenient financial services. The financial sector in Nigeria has witnessed a…