KEY COMPONENTS OF EMPLOYMENT CONTRACTS IN NIGERIA
The employment contract in Nigeria is a crucial tool in employment and labour relations, serving to delineate the rights and responsibilities of the parties involved. It primarily underscores the employer’s authority to direct and oversee the employee’s work. According to section 91 of the Labour Act 2004, a contract of employment is described as “an […]
New NIBSS Policy Bars Unlicensed Fintechs From Bank Transfer Channels:
The Nigerian Interbank Settlement System (NIBSS) recently released a new policy mandating banks to remove non-deposit taking fintechs from the National Instant Payments (NIP) funds transfer system. This impacts players like switching companies, payment processors and super-agents facilitating transfers through channels like USSD, mobile apps and web. As per the NIBSS circular, allowing such fintechs […]