Nigeria is abuzz with crowdfunding. In 2021, Nigerian startups raised over $1.6 billion in funding.¹ Out of about $4 billion startups funding that Africa attracted in 2021, Nigeria earned the largest chunk of $1.37 billion.² One of the major tools presently being employed to garner such humongous funding is the innovation of crowdfunding. According to Regulation 1 of the SEC Rules on Crowdfunding 2021, crowdfunding is the process ... read more

Download Article

J-K Gadzama LLP has appointed Mr. Francis Oronsaye as the new Managing Partner of the Firm. The appointment is geared towards the efficient management of the Firm.

Prior to his appointment as the firm's Managing Partner, Mr. Oronsaye had previously served as the firm’s Deputy Managing Partner.

He took over from Mrs. Geraldine Mbah, who served the firm exceptionally and was celebrated with a sendoff party earlier this year. She is currently in the United States of America to further her legal education.

In other news, the firm is pleased to announce the promotion of Mr. Darlington Onyekwere and Mr. Madu Joe-Kyari Gadzama from Junior Partners to Partners. Similarly, Mr. Oluniyi Adediji and Mr. Jerry Ombugadu Musa were admitted into the firm’s partnership as Junior Partners.

The firm wishes them the best as they assume their new positions.

by Madu J. Gadzama and Sarah J. Atumga

J-K Gadzama LLP

1 Legislative framework

1.1 Which legislative provisions govern private client matters in your jurisdiction?

• The Finance Act, 2021;
• The Companies and Allied Matters Act, 2020;
• The Nigeria Data Protection Regulation, 2019;
• The Investments and Securities Act, 2007;
• The National Information Technology Development Agency Act, 2007;
• The Nigerian Deposit Insurance Corporation Act, 2006;
• The National Office of Technology Acquisition and Promotion Act, 2004;
• The Nigerian Investment Promotion Commission Act, 2004;
• The Foreign Exchange (Monitoring & Miscellaneous Provisions) Act, 2004;
• The Wills Act, 1837 – as amended by the Wills Amendment Act of 1852 (including the wills laws of various states); and
• The administration of estate laws of various states.

View complete article here: https://www.mondaq.com/nigeria/family-and-matrimonial/1122216/private-client-comparative-guide 

Open banking is an emerging financial services model that focuses on the portability and open availability of customer data held by financial institutions. Open banking is also known as “open bank data.”

Simply put; open banking is a banking practice that enables ordinary people to grant permission for our financial data to be securely shared between banks and other financial service providers through the use of application programming interfaces (APIs).

View complete article here: https://j-kgadzamallp.com/publications/articles/47-cbn-guidelines-on-open-banking-in-nigeria-a-tranquil-steer 

Yesterday, Thursday, October 14, 2021, Joe-Kyari Gadzama SAN hosted his football team, Gadzama FC, to a sumptuous cocktail reception. As may be recalled, the football team represented J-K Gadzama LLP at the Abuja Lawyers League Tournament earlier this year.

The event, which began at 6:00 pm, was well attended. As is usual with events hosted by the Learned Silk, members of the football team enjoyed some of the most exquisite drinks and finger foods available on the market.

As the players enjoyed themselves and danced to the groove of music of the night, Joe-Kyari Gadzama SAN appreciated each and everyone of them for making the time to attend training sessions and representing his firm at the football competition. He promised the team that he would continue to support them and would register for the next football competition.

The event, which wasn’t a speech making event, turned into an entertaining social outing for the team as they continued to dance all through the night.

We are pleased to announce that our Madu Gadzama and Olasunkanmi E. Oluwabiyi Esq., recently contributed to the International Arbitration in Nigeria guide published by MONDAQ.

To have access to the guide, kindly click on the link below: https://www.mondaq.com/nigeria/litigation-mediation-arbitration/1110014/international-arbitration-comparative-guide 

The Central Bank of Nigeria on the 14th of July,2020, released a new batch of guidelines to facilitate an improved credit repayment system, reduce nonperforming loans, and take action against loan defaulters.

Information is the key to sustaining a healthy living in every society. To underscore the importance of this, several international treaties have made provisions for the protection rights of the masses to information.

There is every need to religiously and dutifully enforce the letters and spirit of the Nigerian Maritime Administration Agency's (NIMASA) Guidance Notice for COVID-19 and review it from time to time.