Author: Seun Timi-Koleolu
Seun Timi-Koleolu
Founding Partner of Pavestones Legal. I am a highly skilled commercially minded lawyer with a passion for excellence and a keen interest in supporting clients in achieving their business goals. I have strong strategic thinking skills and I am high on integrity. I believe technology is now a crucial part of the legal profession and should be embraced by lawyers to efficiently deliver legal services on a global scale. The interest of Pavestones in technology is in two ways. On one hand, we are interested in supporting companies who are innovating and making a difference with the use of technology. On the other hand, we believe in utilising technology to efficiently provide our legal services to businesses operating in various sectors.
Introduction The CBN in its March 28, 2024 circular announced an upward review of the minimum capital requirements for banks in Nigeria, mandating banks to raise their minimum paid-up capital by March 31, 2026 as follows: ₦500 billion for international commercial banks; ₦200 billion for national commercial banks; ₦50 billion for regional commercial banks; ₦50 billion for national merchant banks; ₦20 billion for national non-interest banks; and ₦10 billion for regional non-interest banks. As the CBN deadline approaches, this article outlines the options available to banks yet to meet the CBN’s recapitalization requirements and key legal considerations. A. Legal Considerations…
In Nigeria, the importance of a well-regulated banking system cannot be overstated, especially in light of the sector’s influence on economic growth, investor confidence and public trust. To achieve this, a robust regulatory framework has been established, one that combines statutory legislation, institutional oversight and evolving policy guidelines to ensure stability and transparency. Both local and foreign businesses wishing to operate in the banking and fintech sector must understand the regulatory framework. Banking And Finance In Nigeria: The Regulatory Framework At A Glance In-view of the foregoing, we have provided a snapshot of the regulatory framework. Banks and Other Financial…
As businesses in Nigeria increasingly leverage technology including social media platforms such as LinkedIn, Instagram, and Medium; and Emerging Technologies including Artificial Intelligence to expand their customer reach both locally and internationally, such businesses must adhere to Data Protection provisions in Nigeria. In view of the foregoing, it is important to note recent updates to the protection of Personal Data in Nigeria. The most recent update is the Nigeria Data Protection Act – General Application and Implementation Directive (the “GAID”) issued on March 20, 2025, by the Nigeria Data Protection Commission. Compliance in Nigeria: Data Protection Directives for Businesses Below…
The agricultural sector is an important sector in Nigeria, with great potential to drive significant growth to the economy. There are various opportunities in the sector to create value which are largely untapped. One of these opportunities is with respect to the value that can be derived from the protection of Intellectual Property ( “IP”) arising from innovative works- such as improved plant varieties, new food processing technology amongst other novel works- developed by players in the agricultural sector. Intellectual Property Protection in Nigeria’s Agricultural Sector In view of the foregoing, we have set out some IP protections available for…