Legalify Attorneys and Solicitors

18/11/2025

In October 2025, after more than two years under scrutiny, Nigeria was formally removed from the Financial Action Task Force (FATF) “grey list”, a designation for jurisdictions with strategic deficiencies in their anti-money‑laundering (AML) and counter‑financing‑of‑terrorism (CFT) frameworks.

Almost concurrently, in November 2025, S&P Global Ratings revised Nigeria’s sovereign credit outlook from Stable to Positive. To many, these are mere surface headline with little impacts, while for others, this signals stability. For investors, senior executives, compliance teams, and financial transaction lawyers, the key question remains: Is this really a turning point, or just a token signal?

In this insight, we explore exactly what FATF delisting means for cross-border banking risk, compliance costs, and capital flows; we unpack how S&P’s Positive Outlook maps to Nigeria’s fiscal, external, monetary, and growth trajectory; and we detail the investment implications - for foreign investors, corporate Nigeria, and high-level financial institutions. We closed with calibrated risk scenarios, actionables, and strategic recommendations.

Read more in the comment section

15/11/2025

For decades, Nigeria’s fixed‑income market has served as a foundation of the country’s capital markets, providing a venue for trading government securities, corporate bonds, and other debt instruments. At the heart of that ecosystem has been the FMDQ Group, which has facilitated trading, settlement, and price discovery for institutional investors, banks, fund managers and corporate issuers.

As part of a broader reform agenda aimed at enhancing transparency and efficiency, the Central Bank of Nigeria (CBN) announced a phased operational restructuring of the fixed‑income market, commencing from November 2025. The reform letter, addressed to the Financial Markets Dealers Association (FMDA), outlines the objective of “strengthening market integrity, streamlining operations, and establishing a unified regulatory framework that ensures end‑to‑end visibility and supervisory oversight of fixed income transactions.”

Our latest insight breaks down what has changed, what remains uncertain, and what investors must prepare for.

See link in comment section to read more.

13/11/2025

Nigeria’s capital markets are at a sensitive point.

The new Tax Laws increased the Capital Gains Tax from 10% to 30% depending on the investor’s overall income or profit level, and the market seems to have reacted to such increase as the date of implementation, January 2026, draws closer; causing significant volatility and market value loss.

The government through the office of Minister of Finance, Wale Edun, has responded immediately to calm the market and reassure investors that the reforms are designed to be fair, transparent, and investor-friendly. The Finance Minister has pledged to review Capital Gains Tax (CGT) as part of ongoing tax reforms, aiming to balance government revenue with the need to encourage investment. Also, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, who clarified that past gains will not be taxed under the new law.

Click https://legalifyattorneys.com/wp-content/uploads/2025/11/Legalify-CGT.pdf to read more about what these developments mean for investors, capital market operators, and corporate dealmakers.

13/11/2025

Nigeria’s capital markets are at a sensitive point.

The new Tax Laws increased the Capital Gains Tax from 10% to 30% depending on the investor’s overall income or profit level, and the market seems to have reacted to such increase as the date of implementation, January 2026, draws closer; causing significant volatility and market value loss.

The government through the office of Minister of Finance, Wale Edun, has responded immediately to calm the market and reassure investors that the reforms are designed to be fair, transparent, and investor-friendly. The Finance Minister has pledged to review Capital Gains Tax (CGT) as part of ongoing tax reforms, aiming to balance government revenue with the need to encourage investment. Also, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, who clarified that past gains will not be taxed under the new law.

Click link in comment section to read more about what these developments mean for investors, capital market operators, and corporate dealmakers.

11/09/2025

Register to Attend.

11/09/2025

With the changes in Nigeria Tax Laws, this workshop is designed for HR leaders, CFOs, and business owners to gather, review and get clear, practical guidance on how these new tax changes affect their daily business operations. You will walk away with actionable insights you can apply immediately in payroll, benefits, expense management, and compliance reporting.
Workshop sessions:
Session 1: Practical Compliance.
Led by a tax and financial compliance expert, this session will cover Company Income Tax, PAYE, VAT, and Withholding Tax. Participants will learn how the new laws affect payroll, employee benefits, expense deductions, and compliance reporting. The session will also cover exemptions, reliefs, common errors, and risk areas, including directors’ perks, car and housing benefits, equity awards, and remote staff. You’ll also get clear guidance on penalties, reconciliation, taxation on digital services, virtual assets, as well as record-keeping, and reporting requirements.
Second Session: Tax Strategy and Risk Management
This session focuses on structuring operations, transactions, and workforce compensation to reduce tax exposure while remaining compliant. Participants will gain insight into grey areas, what triggers audits, and approaches to manage tax risks. Practical advice will include audit readiness checklists, risk-mapping tools, and strategies for engaging with regulators.
Each session is built to collaborate, challenge assumptions, share practical strategies, and provide tools and guidance that attendees can take back to their organisations.
Register to attend, limited zoom slot available:
https://bit.ly/zxkt

11/09/2025

With the changes in Nigeria Tax Laws, this workshop is designed for HR leaders, CFOs, and business owners to gather, review and get clear, practical guidance on how these new tax changes affect their daily business operations. You will walk away with actionable insights you can apply immediately in payroll, benefits, expense management, and compliance reporting.

Workshop sessions:

Session 1: Practical Compliance.

Led by a tax and financial compliance expert, this session will cover Company Income Tax, PAYE, VAT, and Withholding Tax. Participants will learn how the new laws affect payroll, employee benefits, expense deductions, and compliance reporting. The session will also cover exemptions, reliefs, common errors, and risk areas, including directors’ perks, car and housing benefits, equity awards, and remote staff. You’ll also get clear guidance on penalties, reconciliation, taxation on digital services, virtual assets, as well as record-keeping, and reporting requirements.

Second Session: Tax Strategy and Risk Management

This session focuses on structuring operations, transactions, and workforce compensation to reduce tax exposure while remaining compliant. Participants will gain insight into grey areas, what triggers audits, and approaches to manage tax risks. Practical advice will include audit readiness checklists, risk-mapping tools, and strategies for engaging with regulators.

Each session is built to collaborate, challenge assumptions, share practical strategies, and provide tools and guidance that attendees can take back to their organisations.

Register to attend, limited zoom slot available:
https://bit.ly/zxkt

03/09/2025

Nigeria’s tax system has entered a new era. Content Creators, online influencers and digital entrepreneurs are now subject to tax.

This online workshop delivers exactly what content creators, online influencers, etc needs.

You will learn simple and practical insights on business structuring, foreign incomes and tax treaties, compliance, avoiding penalties, VAT, deductible expenses, structuring busines deals, risk management, audit readiness and checklist, negotiation strategy with tax regulators, etc

This webinar is built to share practical strategies, and provide tools and guidance that attendees can easily use.

Register to attend, limited Zoom slot available: https://bit.ly/prx7

Register to Attend

20/08/2025

With the changes in Nigeria Tax Laws, this workshop is designed for HR leaders, CFOs, and business owners to gather, review and get clear, practical guidance on how these new tax changes affect their daily business operations. You will walk away with actionable insights you can apply immediately in payroll, benefits, expense management, and compliance reporting.

Workshop sessions:

Session 1: Practical Compliance.

Led by a tax and financial compliance expert, this session will cover Company Income Tax, PAYE, VAT, and Withholding Tax. Participants will learn how the new laws affect payroll, employee benefits, expense deductions, and compliance reporting. The session will also cover exemptions, reliefs, common errors, and risk areas, including directors’ perks, car and housing benefits, equity awards, and remote staff. You’ll also get clear guidance on penalties, reconciliation, taxation on digital services, virtual assets, as well as record-keeping, and reporting requirements.

Second Session: Tax Strategy and Risk Management

This session focuses on structuring operations, transactions, and workforce compensation to reduce tax exposure while remaining compliant. Participants will gain insight into grey areas, what triggers audits, and approaches to manage tax risks. Practical advice will include audit readiness checklists, risk-mapping tools, and strategies for engaging with regulators.

Each session is built to collaborate, challenge assumptions, share practical strategies, and provide tools and guidance that attendees can take back to their organisations.

Register to attend, limited zoom slot available:
https://bit.ly/zqi

Register to Attend

02/08/2025

If you are an employee, run a business, pay staff, HR professional, investor, into tech startup, real estate, crypto-currency or online content creator in or from Nigeria, your tax life just changed and you should read this.

In this first installment of a 3 part series, Legalify Attorneys has fully analysed the new Nigeria Tax Act 2025 on a sector by sector basis.

Here is the thing: it’s not just about taxes, it’s about who is now in the tax net, whether or not your tax liability increased; deductions applicable to you and how.

Click here to read more:

12/07/2025

For many Nigerian companies, UK sanctions may seem distant. After all, these are British Laws, made by British institutions, mostly in response to issues like the Russia-Ukraine war. But that assumption is no longer safe.

The UK government has now made it clear that it will go after not only companies operating in the UK or owned by UK nationals, but also non-UK businesses anywhere in the world, including Nigeria, if they are seen to be directly, indirectly, intentionally or unintentionally helping others avoid the sanctions, even unintentionally shipping UK goods or services to Russia. It should be noted that this is only in relation to specific actors contained in UK sanction list.

The UK Foreign, Commonwealth & Development Office (FCDO), working with the Office of Financial Sanctions Implementation (OFSI), has issued new guidance that makes one thing clear: a business based outside the United Kingdom can face serious consequences under UK sanctions if it is found to be involved, directly or indirectly, in efforts to bypass those restrictions. UK authorities have already started investigating and in some cases sanctioning companies located entirely outside their territory.

At Legalify Attorneys, we have analysed the said UK Government's sanctions guidance for non-UK businesses, and we offer clear, actionable guidance for businesses in international logistics, procurement, construction, oil and gas, tech, manufacturing, cross-border finance, or plays in the field contained in sanction lists.

Kindly click below to read our analysis:
https://legalifyattorneys.com/wp-content/uploads/2025/07/Legalify-UK-sanction-and-Nigerian-Businesses-1.pdf

09/07/2025

A match-fixing allegation or ban can derail an athlete’s career branding them with a stigma that threatens their livelihood and hard-earned reputation. These claims are now pursued with increasing urgency, often based on betting reports, statistical anomalies, and expert opinions.

Yet, these tools are only as reliable as the evidence supporting them. Too often, the process overlooks the fact that behind the data is a human being, with a career, a future, and a right to fairness.

At Legalify Attorneys, we have analysed the legal strategies that led to victory in the case of CAS 2024/A/10456 Arturs Lotcikovs v. Latvian Football Federation, and we offer clear, actionable guidance for sports professionals facing similar sanctions

Kindly click here to read our analysis:
https://legalifyattorneys.com/wp-content/uploads/2025/07/Legalify-Defence-to-Match-Fixing.pdf