Author name: ORE_NYS

Introduction In today’s business environment, strong corporate governance is essential for ensuring the transparency, accountability, and sustainability of organizations. This is particularly crucial for public companies in Nigeria, where past corporate failures linked to weak governance practices led to the need for stronger oversight. In response, the Securities and Exchange Commission (SEC) revised the Code …

Understanding Regulatory Compliance: The Nigerian Code of Corporate Governance for Public Companies Read More »

Introduction Running an e-commerce business is about more than just offering great products or services. To succeed, businesses must also comply with important regulatory obligations, ensuring both business protection and a secure, trustworthy environment for customers. In Nigeria, the e-commerce space is growing rapidly, making it essential for businesses to align with legal standards to …

Essential Requirements for Running a Successful E-commerce Business in Nigeria Read More »

Introduction On July 17, 2024, President Bola Ahmed Tinubu sent an executive bill to the Nigerian Senate, proposing an amendment to the Finance Act 2023 via the Finance Bill 2024. This bill introduces a one-time windfall tax of 50% on the realized foreign exchange profits derived by banks during the 2023 financial year. The tax, …

Further Insights on the Windfall Tax on Nigerian Banks: Implications and Challenges Read More »

Introduction In the complex regulatory landscape of Nigeria, businesses are subject to various measures to ensure compliance with legal requirements and ethical standards. One critical aspect that demands attention is social insurance audits, specifically related to the Social Insurance Trust Fund (SITF). In this article, we aim to demystify social insurance audits for Nigerian companies, …

Demystifying Social Insurance Audits for Nigerian Companies Read More »

Introduction In the face of global environmental challenges, the business landscape is shifting towards sustainable practices and ethical considerations. For Nigerian accounting firms, the adoption of green accounting principles is not only a corporate responsibility but also a strategic imperative. Industrial Training Funds (ITFs) present a unique opportunity for accounting firms to champion sustainability initiatives, …

Green Accounting: Sustainability Initiatives Supported by Industrial Training Funds Read More »

Introduction Transfer pricing has become a critical focus for multinational enterprises (MNEs) operating in Nigeria. As the Federal Inland Revenue Service (FIRS) intensifies its scrutiny on cross-border transactions, it’s essential for companies to not only comply with the regulatory guidelines but also implement proactive measures to mitigate transfer pricing risks. This article provides insights and …

Mitigating Transfer Pricing Risks for Multinational Enterprises in Nigeria Read More »

Introduction In today’s business environment, regulatory compliance is no longer just a mandatory task to avoid penalties and legal consequences. Organizations increasingly recognize it as a strategic advantage that can enhance operations, improve brand reputation, and secure long-term success. This shift in perspective stems from a growing understanding that compliance can provide significant benefits beyond …

The Strategic Value of Regulatory Compliance in Modern Business Read More »

Introduction Tax savings is a critical objective for individuals and businesses alike. For entrepreneurs and investors seeking to optimize profits, understanding tax-friendly jurisdictions is essential when deciding where to establish operations or expand into new markets. This guide offers insight into some of the most favorable tax havens, where businesses can significantly reduce tax burdens …

Exploring Global Tax Havens: Strategic Destinations for Business Expansion Read More »

The Corporate Affairs Commission (CAC) has issued a strong reminder to Point of Sale (POS) operators across Nigeria, highlighting that the deadline for their mandatory business registration, initially set on July 7, 2024, expired on September 5, 2024. The CAC expressed concerns over the low compliance rate among operators, despite the large number of POS …

CAC Urges Point of Sale (POS) Operators to Comply with Business Registration Deadline Read More »

Introduction Franchising has become an increasingly popular business model in Nigeria, offering entrepreneurs the opportunity to expand their brand rapidly with minimal capital outlay. By partnering with franchisees, businesses can achieve faster market penetration while distributing operational responsibilities. However, franchising in Nigeria involves several challenges and important considerations that are crucial for success and regulatory …

Key Considerations for Franchising Your Business in Nigeria Read More »