Legal & Regulations Archives - Nairametrics https://nairametrics.com/category/industries/legal-regulations/ Destination for Business news and analysis from Africa's largest economy Wed, 09 Jul 2025 17:22:42 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Legal & Regulations Archives - Nairametrics https://nairametrics.com/category/industries/legal-regulations/ 32 32 201037849 Dantata & Sawoe advised to resolve $1.4 Million Dangote project debt in Court https://nairametrics.com/2025/07/09/dantata-sawoe-advised-to-resolve-1-4-million-dangote-project-debt-in-court/ https://nairametrics.com/2025/07/09/dantata-sawoe-advised-to-resolve-1-4-million-dangote-project-debt-in-court/#respond Wed, 09 Jul 2025 08:38:58 +0000 https://nairametrics.com/?p=518772 The Federal High Court in Abuja has advised Dantata & Sawoe Construction Company Limited to be “serious” about the $1.4 million terms of a settlement agreement regarding an alleged $1,257,592.83 debt owed to Zutari Consulting Nigeria Ltd, following subcontract work on the Dangote Fertilizer Plant project in Lekki, Lagos, Nigeria. 

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]]> https://nairametrics.com/2025/07/09/dantata-sawoe-advised-to-resolve-1-4-million-dangote-project-debt-in-court/feed/ 0 518772 TStv MD, Bright Echefu, re-arraigned over N1bn and $1.3m alleged investment fraud, seeks out-of-court settlement  https://nairametrics.com/2025/07/08/tstv-md-bright-echefu-re-arraigned-over-n1bn-and-1-3m-alleged-investment-fraud-seeks-out-of-court-settlement/ https://nairametrics.com/2025/07/08/tstv-md-bright-echefu-re-arraigned-over-n1bn-and-1-3m-alleged-investment-fraud-seeks-out-of-court-settlement/#respond Tue, 08 Jul 2025 07:50:35 +0000 https://nairametrics.com/?p=518686 The Economic and Financial Crimes Commission (EFCC) has re-arraigned Bright Echefu, Managing Director and Chief Executive Officer (MD/CEO) of Telecom Satellites Limited (TStv), and three others on an amended twelve-count money laundering charge totaling about N1 billion and $1.3 million alleged investment fraud, including N66 million tax default allegations. 

The post TStv MD, Bright Echefu, re-arraigned over N1bn and $1.3m alleged investment fraud, seeks out-of-court settlement  appeared first on Nairametrics.

]]> https://nairametrics.com/2025/07/08/tstv-md-bright-echefu-re-arraigned-over-n1bn-and-1-3m-alleged-investment-fraud-seeks-out-of-court-settlement/feed/ 0 518686 AGF approves prosecution of Andy Uba, Benjamin Etu over alleged N400 million fraud  https://nairametrics.com/2025/07/07/agf-approves-prosecution-of-andy-uba-benjamin-etu-over-alleged-n400-million-fraud/ https://nairametrics.com/2025/07/07/agf-approves-prosecution-of-andy-uba-benjamin-etu-over-alleged-n400-million-fraud/#respond Mon, 07 Jul 2025 20:00:33 +0000 https://nairametrics.com/?p=518679 The Office of the Attorney-General of the Federation (AGF) has approved the prosecution of Senator Andy Uba and Benjamin Etu over N400 million fraud allegations raised by the Inspector-General of Police (IGP). 

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]]> https://nairametrics.com/2025/07/07/agf-approves-prosecution-of-andy-uba-benjamin-etu-over-alleged-n400-million-fraud/feed/ 0 518679 EFCC arraigns 2 CBEX promoters for promising Nigerians 88% investment returns without SEC consent  https://nairametrics.com/2025/07/07/efcc-arraigns-2-cbex-promoters-for-promising-nigerians-88-investment-returns-without-sec-consent/ https://nairametrics.com/2025/07/07/efcc-arraigns-2-cbex-promoters-for-promising-nigerians-88-investment-returns-without-sec-consent/#respond Mon, 07 Jul 2025 17:42:51 +0000 https://nairametrics.com/?p=518662 The Economic and Financial Crimes Commission (EFCC) on Monday arraigned two promoters of the now-collapsed and fraudulent cryptocurrency investment scheme known as “CBEX” before the Federal High Court in Abuja for allegedly promising Nigerians an 88 percent return on investments without obtaining written consent from the Securities and Exchange Commission (SEC), among other allegations. The […]

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]]> https://nairametrics.com/2025/07/07/efcc-arraigns-2-cbex-promoters-for-promising-nigerians-88-investment-returns-without-sec-consent/feed/ 0 518662 Alleged $854K, N590m fraud: Court to decide Afriq Arbitrage CEO’s fresh bail request on July 22  https://nairametrics.com/2025/07/07/alleged-854k-n590m-fraud-court-to-decide-afriq-arbitrage-ceos-fresh-bail-request-on-july-22/ https://nairametrics.com/2025/07/07/alleged-854k-n590m-fraud-court-to-decide-afriq-arbitrage-ceos-fresh-bail-request-on-july-22/#respond Mon, 07 Jul 2025 14:44:27 +0000 https://nairametrics.com/?p=518650 The Federal High Court in Abuja, on Monday, has fixed July 22 to decide a fresh bail application by Jesam Michael, CEO of the cryptocurrency trading platform Afriq Arbitrage System (AAS) in an alleged investment fraud case against him, involving $844,416.36, $10,000, and N590 million. 

The post Alleged $854K, N590m fraud: Court to decide Afriq Arbitrage CEO’s fresh bail request on July 22  appeared first on Nairametrics.

]]> https://nairametrics.com/2025/07/07/alleged-854k-n590m-fraud-court-to-decide-afriq-arbitrage-ceos-fresh-bail-request-on-july-22/feed/ 0 518650 Court upholds CBN-backed NIBSS Authority to manage BVN Database nationwide  https://nairametrics.com/2025/07/04/court-upholds-cbn-backed-nibss-authority-to-manage-bvn-database-nationwide/ https://nairametrics.com/2025/07/04/court-upholds-cbn-backed-nibss-authority-to-manage-bvn-database-nationwide/#comments Fri, 04 Jul 2025 13:11:31 +0000 https://nairametrics.com/?p=518472 The Federal High Court in Abuja on Friday affirmed the legality of the Nigeria Inter-Bank Settlement System Plc’s (NIBSS) management of the Bank Verification Number (BVN) database across Nigeria, in line with the Central Bank of Nigeria (CBN) Act and other relevant banking laws. 

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]]> https://nairametrics.com/2025/07/04/court-upholds-cbn-backed-nibss-authority-to-manage-bvn-database-nationwide/feed/ 1 518472 Court fines Senator Natasha Akpoti N5m for satirical post against Godswill Akpabio, directs her recall  https://nairametrics.com/2025/07/04/court-fines-senator-natasha-akpoti-n5m-for-satirical-post-against-godswill-akpabio-directs-her-recall/ https://nairametrics.com/2025/07/04/court-fines-senator-natasha-akpoti-n5m-for-satirical-post-against-godswill-akpabio-directs-her-recall/#respond Fri, 04 Jul 2025 11:39:16 +0000 https://nairametrics.com/?p=518457 The Federal High Court in Abuja has fined Senator Natasha Akpoti-Uduaghan N5 million for contempt (due to a satirical post) against Senate President Godswill Akpabio, while also directing her recall from suspension. 

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]]> https://nairametrics.com/2025/07/04/court-fines-senator-natasha-akpoti-n5m-for-satirical-post-against-godswill-akpabio-directs-her-recall/feed/ 0 518457 Gov. Alex Otti’s N50 billion Suit: Facebook user accused of defamation, court accepts key exhibits  https://nairametrics.com/2025/07/03/gov-alex-ottis-n50-billion-suit-facebook-user-accused-of-defamation-court-accepts-key-exhibits/ https://nairametrics.com/2025/07/03/gov-alex-ottis-n50-billion-suit-facebook-user-accused-of-defamation-court-accepts-key-exhibits/#respond Thu, 03 Jul 2025 15:41:55 +0000 https://nairametrics.com/?p=518423 The High Court of the Federal Capital Territory on Thursday admitted several documentary exhibits into evidence, alleging that Hon. Toby Chuks used his Facebook platform to harm Abia State Governor Alex Otti’s "profile as a financial expert," among other defamatory claims. 

The post Gov. Alex Otti’s N50 billion Suit: Facebook user accused of defamation, court accepts key exhibits  appeared first on Nairametrics.

]]> https://nairametrics.com/2025/07/03/gov-alex-ottis-n50-billion-suit-facebook-user-accused-of-defamation-court-accepts-key-exhibits/feed/ 0 518423 NAICOM issues operational licences to SanlamAllianz Life and General Insurance to strengthen industry confidence  https://nairametrics.com/2025/07/03/naicom-issues-operational-licences-to-sanlamallianz-life-and-general-insurance-to-strengthen-industry-confidence/ https://nairametrics.com/2025/07/03/naicom-issues-operational-licences-to-sanlamallianz-life-and-general-insurance-to-strengthen-industry-confidence/#respond Thu, 03 Jul 2025 14:34:03 +0000 https://nairametrics.com/?p=518407 The National Insurance Commission (NAICOM) has formally issued operational licences to SanlamAllianz Life Insurance and General Insurance, marking a significant milestone in Nigeria's evolving insurance landscape. 

The post NAICOM issues operational licences to SanlamAllianz Life and General Insurance to strengthen industry confidence  appeared first on Nairametrics.

]]> https://nairametrics.com/2025/07/03/naicom-issues-operational-licences-to-sanlamallianz-life-and-general-insurance-to-strengthen-industry-confidence/feed/ 0 518407 NCC vs MTN: AGF to decide on criminal charges facing CEO Karl Toriola  https://nairametrics.com/2025/07/02/ncc-vs-mtn-agf-to-decide-on-criminal-charges-facing-ceo-karl-toriola/ https://nairametrics.com/2025/07/02/ncc-vs-mtn-agf-to-decide-on-criminal-charges-facing-ceo-karl-toriola/#comments Wed, 02 Jul 2025 19:40:00 +0000 https://nairametrics.com/?p=518370 The Office of the Attorney General of the Federation (AGF) has said it would, by October 2025, decide on the pending copyright infringement criminal charge instituted against MTN Nigeria Communications Limited and its CEO, Karl Toriola, by the Nigerian Copyright Commission (NCC). The AGF counsel, Aderonke Imana, Esq, made this known to Justice Mohammed Umar […]

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]]> https://nairametrics.com/2025/07/02/ncc-vs-mtn-agf-to-decide-on-criminal-charges-facing-ceo-karl-toriola/feed/ 1 518370 9mobile Ownership Battle: Court set to decide on 43 Million shares by Sept 24  https://nairametrics.com/2025/07/02/9mobile-ownership-battle-court-set-to-decide-on-43-million-shares-by-sept-24/ https://nairametrics.com/2025/07/02/9mobile-ownership-battle-court-set-to-decide-on-43-million-shares-by-sept-24/#respond Wed, 02 Jul 2025 15:12:27 +0000 https://nairametrics.com/?p=518354 The Federal High Court in Abuja has fixed September 24 to rule on several applications in the case of businessman Abubakar Ismaila Isa, who claims that his 43 million shares were allegedly transferred to Emerging Markets Telecommunication Services Limited, operating under the trade name 9mobile, without his consent. 

The post 9mobile Ownership Battle: Court set to decide on 43 Million shares by Sept 24  appeared first on Nairametrics.

]]> https://nairametrics.com/2025/07/02/9mobile-ownership-battle-court-set-to-decide-on-43-million-shares-by-sept-24/feed/ 0 518354 Nigeria must adopt AI surveillance to build future ready capital market — SEC  https://nairametrics.com/2025/07/01/nigeria-must-adopt-ai-surveillance-to-build-future-ready-capital-market-sec/ https://nairametrics.com/2025/07/01/nigeria-must-adopt-ai-surveillance-to-build-future-ready-capital-market-sec/#respond Tue, 01 Jul 2025 05:55:43 +0000 https://nairametrics.com/?p=518232 The Securities and Exchange Commission (SEC) has called for the adoption of Artificial Intelligence (AI)-driven surveillance systems as part of broader reforms to reposition Nigeria’s capital market for sustainable growth and resilience. 

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]]> https://nairametrics.com/2025/07/01/nigeria-must-adopt-ai-surveillance-to-build-future-ready-capital-market-sec/feed/ 0 518232 Supreme Court Judgment: CBN Governor agrees to settle with Consultant over Committal suit  https://nairametrics.com/2025/06/30/supreme-court-judgment-cbn-governor-agrees-to-settle-with-consultant-over-committal-suit/ https://nairametrics.com/2025/06/30/supreme-court-judgment-cbn-governor-agrees-to-settle-with-consultant-over-committal-suit/#respond Mon, 30 Jun 2025 15:56:46 +0000 https://nairametrics.com/?p=518189 The CBN Governor's lawyer, Yusuf Ali SAN, disclosed the development to Justice Mohammed Umar during Monday's proceedings. 

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]]> https://nairametrics.com/2025/06/30/supreme-court-judgment-cbn-governor-agrees-to-settle-with-consultant-over-committal-suit/feed/ 0 518189 Alleged $1 billion scam: Court refuses CBEX promoters bail requests from EFCC custody  https://nairametrics.com/2025/06/30/alleged-1-billion-scam-court-refuses-cbex-promoters-bail-requests-from-efcc-custody/ https://nairametrics.com/2025/06/30/alleged-1-billion-scam-court-refuses-cbex-promoters-bail-requests-from-efcc-custody/#respond Mon, 30 Jun 2025 15:28:23 +0000 https://nairametrics.com/?p=518186 The Federal High Court in Abuja on Monday, has refused the bail applications of three promoters of the now-collapsed and fraudulent cryptocurrency investment scheme known as “CBEX” following their detention in connection with an alleged $1 billion scam targeting Nigerian victims. 

The post Alleged $1 billion scam: Court refuses CBEX promoters bail requests from EFCC custody  appeared first on Nairametrics.

]]> https://nairametrics.com/2025/06/30/alleged-1-billion-scam-court-refuses-cbex-promoters-bail-requests-from-efcc-custody/feed/ 0 518186 SEC warns Nigerians against Value Growth Platform, flags it as potential Ponzi scheme  https://nairametrics.com/2025/06/27/sec-warns-nigerians-against-value-growth-platform-flags-it-as-potential-ponzi-scheme/ https://nairametrics.com/2025/06/27/sec-warns-nigerians-against-value-growth-platform-flags-it-as-potential-ponzi-scheme/#comments Fri, 27 Jun 2025 19:01:12 +0000 https://nairametrics.com/?p=518000 The Securities and Exchange Commission (SEC) has issued a public warning about Value Growth Platform, an online entity it suspects to be operating a Ponzi scheme under the guise of a legitimate investment service. 

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]]> https://nairametrics.com/2025/06/27/sec-warns-nigerians-against-value-growth-platform-flags-it-as-potential-ponzi-scheme/feed/ 2 518000 NJC retires 9 judges over Age Falsification in Imo State  https://nairametrics.com/2025/06/27/njc-retires-9-judges-over-age-falsification-in-imo-state/ https://nairametrics.com/2025/06/27/njc-retires-9-judges-over-age-falsification-in-imo-state/#respond Fri, 27 Jun 2025 06:13:43 +0000 https://nairametrics.com/?p=517943 The National Judicial Council (NJC) has recommended the compulsory retirement of nine judges in Imo State over allegations of age falsification. 

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]]> https://nairametrics.com/2025/06/27/njc-retires-9-judges-over-age-falsification-in-imo-state/feed/ 0 517943 President Tinubu declines assent to NDLEA Amendment Bill, cites constitutional contravention https://nairametrics.com/2025/06/26/president-tinubu-declines-assent-to-ndlea-amendment-bill-cites-constitutional-contravention/ https://nairametrics.com/2025/06/26/president-tinubu-declines-assent-to-ndlea-amendment-bill-cites-constitutional-contravention/#respond Thu, 26 Jun 2025 12:17:19 +0000 https://nairametrics.com/?p=517905 President Bola Tinubu has declined assent to the National Drug Law Enforcement Agency (NDLEA) Amendment Bill, 2025, recently passed by the National Assembly.  

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]]> https://nairametrics.com/2025/06/26/president-tinubu-declines-assent-to-ndlea-amendment-bill-cites-constitutional-contravention/feed/ 0 517905 Pensioners demand National Assembly’s speedy approval of N758 billion treasury bond to clear decades-long arrears  https://nairametrics.com/2025/06/25/pensioners-demand-national-assemblys-speedy-approval-of-n758-billion-treasury-bond-to-clear-decades-long-arrears/ https://nairametrics.com/2025/06/25/pensioners-demand-national-assemblys-speedy-approval-of-n758-billion-treasury-bond-to-clear-decades-long-arrears/#comments Wed, 25 Jun 2025 06:11:00 +0000 https://nairametrics.com/?p=517824 Pensioners under Nigeria’s Contributory Pension Scheme (CPS) have appealed to the National Assembly to approve the full implementation of the N758 billion Treasury bond announced earlier this year, intended to clear decades-long arrears owed to retirees. 

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]]> https://nairametrics.com/2025/06/25/pensioners-demand-national-assemblys-speedy-approval-of-n758-billion-treasury-bond-to-clear-decades-long-arrears/feed/ 1 517824 FCCPC to arraign MultiChoice CEO, Pay TV Directors for allegedly Impeding Investigation https://nairametrics.com/2025/06/24/fccpc-to-arraign-multichoice-ceo-pay-tv-directors-for-allegedly-impeding-investigation/ https://nairametrics.com/2025/06/24/fccpc-to-arraign-multichoice-ceo-pay-tv-directors-for-allegedly-impeding-investigation/#respond Tue, 24 Jun 2025 13:50:28 +0000 https://nairametrics.com/?p=517776 The Federal Competition and Consumer Protection Commission (FCCPC) will arraign MultiChoice Nigeria Limited, its CEO John Ugbe, and some of the Pay TV directors for allegedly impeding its investigation and failing to comply with its lawful summons regarding its services. 

The post FCCPC to arraign MultiChoice CEO, Pay TV Directors for allegedly Impeding Investigation appeared first on Nairametrics.

]]> https://nairametrics.com/2025/06/24/fccpc-to-arraign-multichoice-ceo-pay-tv-directors-for-allegedly-impeding-investigation/feed/ 0 517776 CBN blames State Governors in court over  delayed N85bn 774 Health Center Construction Contract completion    https://nairametrics.com/2025/06/24/cbn-blames-state-governors-in-court-over-delayed-n85bn-774-health-center-construction-contract-completion/ https://nairametrics.com/2025/06/24/cbn-blames-state-governors-in-court-over-delayed-n85bn-774-health-center-construction-contract-completion/#respond Tue, 24 Jun 2025 07:17:21 +0000 https://nairametrics.com/?p=517753 The Central Bank of Nigeria (CBN) has accused the Nigeria Governors Forum and other "interlopers" of delaying the N85 billion contract for the construction of 774 healthcare centers across Local Government Areas in Nigeria through their respective pending litigations. 

The post CBN blames State Governors in court over  delayed N85bn 774 Health Center Construction Contract completion    appeared first on Nairametrics.

]]> https://nairametrics.com/2025/06/24/cbn-blames-state-governors-in-court-over-delayed-n85bn-774-health-center-construction-contract-completion/feed/ 0 517753