Threshold Attorneys

Today, we celebrate the hard work and dedication of workers everywhere.

Happy Workers' Day from all of us at Threshold Attorneys.

The Business Facilitation (Miscellaneous Provision) Act, 2023 (the "Act") was signed into law on 10th February 2023. Part of the objective of the Act is to institutionalise all the reforms to ease implementation.

Below is a snippet from the Act. Swipe to your left to read.

On February 17, 2021, the Central Bank of Nigeria (CBN) released the Regulatory Framework for Open Banking in Nigeria to provide an enabling regulatory environment for the provision of innovative-centric financial services through the safe utilization of shared data.

However, major risks exist with the adoption and implementation of Open Banking, notably data breach and abuse. In recognition of these risks the CBN has now released the Exposure Draft of the Operational Guidelines for Open Banking in Nigeria (the Guidelines), setting out the responsibilities and expectations for the participants in the Open Banking ecosystem, the framework for sharing information and customer experience standards, amongst others.

In this Newsletter, we examine the key provisions of the Guidelines including but not limited to provisions on the scope, categories of data, tiers, and responsibilities of participants, and shared information framework.

Click on the link to read the full publication https://threshold-attorneys.com/newsletter-on-the-cbn-draft-operational-guidelines-for-open-banking-in-nigeria/

On June 13, 2022, the National Information Technology Development Agency (“NITDA”) released a draft of the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries (the “Draft Code”) for public review and comment.

The Draft Code aims to safeguard the security and interest of Nigerians and Non-Nigerians with respect to activities conducted on online platforms. It outlines the best practices required of all Interactive Computer Service Platforms/Internet intermediaries to make the digital ecosystem safer for internet users in Nigeria.

This Newsletter examines key provisions of the Draft Code.

Click on the link to read the full publication https://threshold-attorneys.com/nitda-draft-code-for-interactive-computer-service-platforms-and-internet-intermediaries-regulating-social-media-platforms-in-nigeria/