News
IP Expert Seeks Mandatory Copyright Registration, Whistle Blower Policy on Piracy

Nigerian Copyright Commission (NCC) has been urged to initiate a regulatory scheme for compulsory registration of copyright and a whistle blower policy to strengthen its renewed drive for enhanced copyright protection and effective anti-piracy enforcement in the country.
Dr. Abdullahi Saliu Ishola, an Intellectual Property (IP) lecturer and acting head of department of the College of Law, Kwara State University, Malete, made this call in Ilorin yesterday (6th November 2013) while delivering a guest lecture on NCC anniversary theme, “Changing the Copyright Narrative for Wealth Creation” as part of activities organised by NCC Kwara State Office in commemoration of the 30th Anniversary of the Commission.
Proffering some practical solutions towards changing the copyright narrative in Nigeria, Dr. Ishola stated that the Commission should initiate proactive measures to check the prevalence of piracy, engender positive attitude of copyright owners and enlist an active role for right owners in the copyright system.
Calling for a review of the Copyright Collective Management Organisations Regulations, he urged the Commission to invoke its discretionary powers in sections 38(1) and 39 of the Copyright Act to approve CMOs as its enforcement agents by appointing some of them as copyright inspectors.
According to him, “NCC should accredit NGOs as copyright activists like the Corporate Affairs Commission accredits lawyers, accountants and chartered secretaries to work for it as partners, relying on Section 45 of the Copyright Act which prescribes that the supervising minister can prescribe regulations for purposes of the Act”.
The senior lecturer opined that copyright registration should not be optional, adding that all educational materials “should be officially copyrighted so that when people want to study, the registered works will be a standard”.
He expressed concern that due to high cost, a lot of foreign books were being pirated and urged NCC to encourage foreign publishers to come and publish the Nigerian edition of their works in the country to reduce costs.
Noting that most authors were only interested in reputation, not really in wealth creation, he admonished NCC to introduce the ‘most economically viable copyright award’ to boost creative enterprise for national wealth creation.
Dr. Ishola who commended the NCC efforts at implementation of its mandates, canvassed for religious and cultural support for copyright, and underscored the need for awareness that Islamic law supports copyright through adoption of ‘waqf’ endowment for exploitation of religious works and creation of employment opportunities.
Chairman on the occasion, Prof. Olu Obafemi, represented by Prof. Abubakar Abdullahi, both of the Department of English, University of Ilorin (UNILORIN), in his remarks, emphasised that in order to change the copyright narrative for wealth creation in Nigeria, the scourge of piracy must be tamed.
Prof. Obafemi expressed concern that the copyright industry was not being adequately funded and decried the attitude of Nigerians in patronising cheap pirated works without minding the loss to copyright owners.
He noted that unduly long litigation constituted a drawback to the fight against piracy, adding that lack of incentive in the creative industry was a discouragement to creative enterprise in the country.
Mr. John O. Asein, Director-General of NCC, while appreciating the support of stakeholders in the State, reassured of the Commission’s partnership with the Kwara State Government and key players in the creative industry to enable a vibrant exploitation of the rich cultural endowments of the state, especially in the creative arts.
Mr. Vincent A. Oyefeso, Represented by the Director of Public Affairs, the Director-General stated: “Today, we are in the global era of knowledge economy and Kwara State can leverage on the copyright system to grow its state economy on a sustainable basis as well as contribute to the national economy. In this wise, NCC is committed to continue to partner with the State Government to attain its development goals, especially in the creative sector.”
He added: “The Commission is also committed to enhanced collaboration with all authors and stakeholders in the copyright based industry to change the copyright narrative for sustained and sustainable wealth creation and national development.”
In an earlier guest lecture, a Senior Lecturer in Faculty of Law, University of Ilorin, Dr. Kayode Adam, had noted that the current copyright narrative was inherited or borrowed from the British legal system, adding that Nigeria’s copyright policies should be based on its fundamental national values.
Commending the NCC for identifying the need for a new national copyright narrative, Dr. Adam stated that a new copyright narrative would serve three purposes, namely guide the adoption of a national copyright policy; assist judges in correct interpretation of our copyright law; help in creating awareness on Nigeria’s copyright values and law.
Honourable Awodiji Tayo Felix, Chairman of Kwara State House Committee on Land, Housing and Urban Development, in a goodwill message, assured that the State House of Assembly would support the Commission’s bid to review the Copyright Act in the interestof right owners and for sustainable development of the copyright industries and the economy.
Mr. Justina Akinwumi, NCC State Coordinator, in her welcome address, stated that the NCC 30th Anniversary celebration was an opportunity for the Commission and all stakeholders “to come together to assess and analyse the journey so far and chart a way forward for economic development through creativity”.
News
NGX Unveils Net-Zero Plan for Greener Capital Market

Nigerian Exchange Limited (NGX) has launched the NGX Net-Zero Programme to guide listed companies toward clear carbon reduction pathways and enhanced climate disclosures aligned with global investor standards.

NGX
The high-level launch engaged chief executives of quoted firms alongside development partners including German Investment Corporation KfW, DEG, and African Foresight Group (AFG), NGX’s implementation partner. Issuers and investors discussed financing decarbonisation, sustainability practices, and attracting climate-aligned capital.
NGX Group Chairman Dr Umaru Kwairanga described the initiative as concrete climate action, commending partners for two years of groundwork. “Today marks leadership and decisive action. Climate change has become a core business imperative, with capital markets mobilising capital and setting standards,” Kwairanga said.
He positioned NGX Net-Zero to support emissions measurement, disclosure, capacity building, and sustainable finance access, urging CEOs to embrace it strategically rather than as compliance. Kwairanga reaffirmed NGX’s goal to make Nigeria’s capital market Africa’s green finance hub.
Group CEO Temi Popoola called climate action a business imperative, noting sustainability-embedded firms attract capital, manage risks, and stay competitive. DEG Management Board Member Monika Beck highlighted partnerships scaling impactful, commercially viable climate solutions.
The event closed with a ceremonial gong marking the programme launch and send-off for outgoing DEG Regional Director Bernd Telemann.
News
Nigeria Off EU High-Risk Money Laundering List in Major Financial Win

Nigerian Financial Intelligence Unit (NFIU) has hailed Nigeria’s removal from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) as a landmark achievement endorsing the nation’s reform efforts.

Nigerian Financial Intelligence Unit (NFIU)
NFIU CEO Hafsat Abubakar Bakari said the delisting, contained in European Commission Delegated Regulation (EU) C (2025) 8460 adopted December 4, 2025 and effective January 29, 2026, affirms sustained AML/CFT and Counter Proliferation Financing (CPF) reforms.
The move follows Nigeria’s exit from the FATF Jurisdictions under Increased Monitoring after addressing strategic deficiencies, alongside Burkina Faso, Mali, Mozambique, South Africa and Tanzania.
Bakari noted the European Commission recognised Nigeria’s strengthened AML/CFT effectiveness, closed technical gaps, and fulfilled FATF Action Plan commitments leading to grey list removal in June and October 2025.
The delisting eliminates enhanced due diligence requirements for EU financial transactions, easing compliance, boosting cross-border flows, and enhancing Nigeria’s appeal for European trade, investment and partnerships.
The NFIU attributed success to President Bola Ahmed Tinubu’s political will and collaboration among National Assembly, law enforcement, regulators, judiciary, private sector and development partners.
The agency reaffirmed commitment to ongoing FATF, GIABA, EU engagement and domestic framework resilience to maintain international confidence in Nigeria’s financial system.
News
FG Directs Banks, Fintechs to Remit VAT on Service Fees

The Federal Government has directed all banks and fintechs to collect and remit 7.5 per cent value-added tax on certain electronic banking services, effective Monday, January 19, 2026, according to an email notice issued by payment platforms.

The VAT will apply to electronic banking charges, including mobile money transfers, USSD transaction fees, and card issuance fees, according to an email notice on Wednesday shared with customers by Moniepoint.
For example, if a bank charges N100 to make a transfer, the 7.5 per cent VAT will be applied to that service fee, not the money being sent.
“From Monday, January 19, 2026, we are required to collect a 7.5 per cent VAT, to be remitted to the Nigerian Revenue Service (formerly known as the Federal Inland Revenue Service).
“VAT will apply to certain banking services that include electronic banking charges such as mobile banking fees (transfers), USSD transaction fees, and card issuance fees,” the email read.
Other operators are expected to issue similar notices to their customers in the coming days. Services that will remain exempt include interest earned on deposits and savings, meaning customers will not pay tax on the returns from their accounts.
The NRS, formerly known as the Federal Inland Revenue Service, has set the deadline to ensure that all commercial banks, microfinance banks, and electronic money operators comply with the collection and remittance requirement.
Moniepoint stressed that this is not a price increase but a statutory obligation. “Moniepoint is required to collect and remit VAT to the Nigerian Revenue Service,” the company said in a statement.
The move is part of the government’s broader efforts to standardise VAT collection on digital financial services and expand revenue generation amid Nigeria’s growing digital economy. VAT on banking transactions is not entirely new; the NRS is now enforcing uniform collection rules across all platforms, ensuring compliance across the sector.
Customers have been assured that the new tax will be clearly itemised, with the VAT shown separately on transaction statements and reports.
In December, several commercial banks informed customers that the N50 stamp duty would be deducted on electronic transfers of N10,000 and above, following the commencement of provisions of the new Tax Act.
The charge, previously known as the EMTL, has now been formally reclassified as stamp duty and will be applied as a one-off fee on qualifying electronic transfers.
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