Goalposts Shift in Compliance: Nigeria’s BAT Fine and CAF’s Regulatory Penalty Redefine Africa’s Competition Law Scene
Setting the New Benchmark in Africa Africa’s approach to enforcing competition law is experiencing a transformative shift, highlighted by the Federal Competition and Consumer Protection Commission (FCCPC) of Nigeria’s landmark USD 110 million fine on British American Tobacco Nigeria Limited and affiliated companies (BAT). This penalty is not just a substantial financial imposition; it also …
From Bytes to Heirs: Digital Estate Planning in Wealth Management
Introduction The wealth management landscape keeps evolving because of the growth of technology and digitalization. Assets are no longer confined to traditional forms such as monies in accounts, shares, real property, tangible assets like jewellery. Interestingly, they now encompass digital assets[1], such as personalized online platforms accounts e.g. X account, all contributing to an individual’s …
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Hired, Fired, and Outsourced: Nigeria’s Employment Maze
Introduction The impact of globalization and trade liberalization on Nigeria’s employment practices cannot be overstated. With the drive for increased profitability and competitiveness, a significant shift is occurring as businesses increasingly turn to labour outsourcing. This model, facilitated by specialized third-party labour contractors,1 is reshaping traditional employment dynamics.2 At the heart of these changes are …
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Value Added Tax and Digital Services in Nigeria
Introduction Value Added Tax (VAT) is an indirect tax imposed on the supply of goods and services. Historically, this supply of goods and services involved physical exchanges in specific locations known as markets, where the identities of the transaction parties were also disclosed.
Big Apple, Big Rules: The Abuse of Dominance Dilemma
Inside Apple’s App Store: Control, Controversy, and Compliance On 4 March 2024, the European Commission (EC) fined Apple more than €1.8 billion for breaching EU competition laws through its App Store practices. The EC found that Apple’s dominant position in the market for distributing music streaming apps on iOS devices was exploited by implementing restrictions …
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