MegathosLegally birthing your unique ideas into reality

The good people of Business Day asked for Megathos Law Practice thoughts on Nigeria earning N622 billion from exporting Liquefied Natural Gas (LNG) in the first quarter of this year, the lowest in five quarters according to new government data. According to the National Bureau of Statistics (NBS), Nigeria’s LNG sales dropped by 18 percent from 757 billion in the third quarter of last year. “Incessant attacks on oil and gas facilities, the rising cost of oil and gas production, need for newer drilling technology, and community issues reduced the amount of associated gas, which serves as feed gas for LNG companies to purify, liquefy and ship for export,” said Olufola Wusu, partner and head of oil and gas at Megathos Law Practice. “Other reasons include the migration from onshore to deep Offshore fields by the IOC’s, the maturity of the fields leading to a decline in output, the seeming unwillingness to drill new wells, and the initial delay in setting up a bid process to allocate new oil and gas blocks.” Wusu added that the delay in expediting drilling for non-associated gas, in natural gas wells in the prolific deep offshore fields also contributed to the dip in natural gas sales. To read more via Businessday.

Introduction to the Nigerian Money Laundering Act 2022 •Prior to the evolution of the Money Laundering Act 2022, the Money Laundering Act 2011 was in effect with a few notable gaps. •The Money Laundering Act of 2011 did not specifically establish the Special Control Unit under the Economic and Financial Crimes Commission (SCUML). •Nigeria is Africa’s top technology hub, Nigeria has four Fintech unicorns – Interswitch, Flutterwave, Andela and Opay – who have all attained valuations of over $1 billion. •The Money Laundering Act 2022 which was graciously signed into law by the President of Nigeria, should lead to more regulatory certainty and help catalyze the growth of the Financial industry in Nigeria. •Several foreign investors are taking advantage of Nigeria’s ranking as one of the leading financial ecosystems in Africa to invest in Nigeria’s digital economy. •The Megathos Law Practice Update, Review of Money Laundering Act of 2022_Megathos Law Practice, will lead and guide you and your teams through the business opportunities available in the Money Laundering Act 2022 in Nigeria. To learn more about the business opportunities available in the Money Laundering Act 2022, please click on this link : www.megathoslaw.com

As the mass resignation continues, more employees are looking to change jobs, with an emphasis on stock options, flexible working hours, a better work life balance and better pay. This has led to an increase in mobility of labour, with several employees becoming digital nomads, sometimes working two jobs at the same time. However, as you search for talent, it is important to understand the characteristics of the types of employees you have or plan to hire and the number of generations in the workplace so you can evolve appropriate H.R. policies to cater for the needs of “Boomers”, “Gen X”, “Millennials” and “Gen Z”. Being able to identify the type of workforce you currently have or are about to hire, can help prevent a lot of heartache for your H.R. Department or a stint at the National Industrial Court. In commemoration of labour day that was celebrated recently, this Megathos Law Practice update, Types of Employees you meet in the workplace _ Megathos Law Practice gives a brief overview of the type of employees you are likely to meet in the workplace… To learn more about labour laws in Nigeria please visit : www.megathoslaw.com

It is one thing to have a great business idea, another thing to gather the right team and to successfully raise the right amount of finance from the right sources to build the product that you have in mind. It was reported that African Startups raised $4.65 billion in 2021, about twice what was raised in 2020 and Nigerian Startups raised $1.37 billion in 2021. Nigerian Startups are making their mark on the global Startup scene! As it stands, we seem to be witnessing a global funding surge as large investors back high-growth tech Startups at a record rate. In this update, How to Raise Funding for Your Startup Megathos Law Megathos Law Practice gives a snapshot of how to raise funding for your Startup. Several foreign investors are taking advantage of Nigeria’s ranking as one of the leading Startup ecosystems in Africa to invest in Nigeria’s digital economy. Please seek guidance via the contact form of www.megathoslaw.com on how to set up a proper transaction structure, corporate governance and as regards Doing Business in in Nigeria without tears…😊 The Megathos Law Practice Update on how to raise funding for your Startup, will highlight funding opportunities in the Startup Industry. To learn more about how to raise funding for your Startup, please click on this link.