Understanding The CBN’s Revised Guidelines For International Money Transfers and the Removal of Allowable Limits Circular
Businesses with an International Money Transfer Operator (IMTO) license are authorised by the Central Bank of Nigeria (CBN) to facilitate efficient fund transfers from entities or individuals abroad to recipients in Nigeria. Initially issued in September 2014, the IMTO Guidelines, also referred to as the “Old IMTO Guidelines,” govern the licensing and operations of IMTOs in Nigeria.
CURRENCY RISK MANAGEMENT IN CROSS-BORDER M&A TRANSACTIONS
Many Nigerian businesses and founders are seeking opportunities outside the Nigerian markets. Access Bank, First Bank, United Bank for Africa (UBA), etc. have long scaled their businesses beyond Nigerian markets. Flutterwave announced on 9th February 2023 its expansion into Egypt. Many more Nigerian and African businesses are likely to go beyond home markets, especially when the African Continental Free Trade Agreement (ACFTA) is fully implemented.[1]
In scaling to new markets, one of the penetration tools available to businesses is mergers and acquisitions (M&A). Scaling businesses are likely to enter new markets by buying stakes in existing businesses in those markets because M&A provides assets on the ground, a customer base and a staff pool to immediately work with at the completion of the transaction. M&A involving businesses operating in different countries is called cross-border M&A.
Navigating the Regulatory Maze: A Guide to Starting and Scaling Your Business in Nigeria
In the vibrant and dynamic landscape of Nigeria, the allure of entrepreneurship has never been stronger. The country’s vast market, coupled with the resilience and creativity of its people, offers a fertile ground for startups and established businesses alike. However, beneath this entrepreneurial enthusiasm lies a challenging reality – the complexities of Nigerian business regulations.
Key Legal Considerations for Series A Funding: Investor Expectations
Series A funding is a critical stage of financing for your startups or early-stage companies, where you seek investment from venture capitalists and institutional investors to accelerate growth and scale your business. Investors at this stage are looking for several key factors before committing their capital. Given our years of experience of conducting due diligence […]
The Nigerian Startup Act, 2022: What you should know
Finally!!! And may we say congratulations to the Startup/tech ecosystem on the recent Presidential assent of the Nigerian Startup Bill. The Nigerian Startup Act, 2022 (“the Act”) is aimed at harnessing the potential of the country’s digital economy by providing an enabling environment for the establishment, development, and operation of Startups in Nigeria. The passage […]
Paytech Regulations: Supporting Or Restricting Innovation?
Anyone with a smartphone in this age has undoubtedly been exposed to some sort of financial technology one way or another.