Bank of Tanzania Issues Restrictions on Use of Foreign Exchange

Pursuant to the Bank of Tanzania Act, 2006, the Bank of Tanzania is given the mandate to formulate and implement monetary policies. Given that, the Bank of Tanzania has severally issued circulars and public notices reminding the public to adhere to the legal and regulatory requirements.

Commentary on Transfer of Licence and Permit Regulations, 2023

The Petroleum Industry Act (PIA) empowers the Nigerian Midstream and Downstream Petroleum Regulatory Authority (the Authority / NMDPRA) to issue licenses and permits for the transportation and storage of crude oil (midstream), and the conversion of crude oil into finished products (downstream) to licence or permit holders (Regulated Entity(ies)) in the Nigerian oil and gas industry.

New Categorisation of Data Controller / Processor and Duty to Register as A Data Controller and Processor

As highlighted in the publication – An Overview of The Nigeria Data Protection Act 2023, one of the key provisions of the Nigeria Data Protection Act (NDPA or Act) is the introduction of a new classification of data controllers and processors i.e., “Data Controllers and Data Processors of major importance” (DCPMI) and the compulsory registration obligations with the Nigeria Data Protection Commission (the NDPC or Commission) where they meet the threshold/benchmark for such registration.

An Overview Nigeria’s Data Protection Act 2023

The Nigeria Data Protection Act 2023 (the Act) is the first major federal legislative instrument for the processing and protection of personal data in Nigeria and supersedes any other law or enactment that relates directly or indirectly to the processing of personal data.

Introducing the Nigeria Data Protection Act 2023

On Tuesday, 12 June 2023, President Bola Ahmed Tinubu assented to the passage of the Nigeria Data Protection Bill into law. The draft Data Protection Bill was introduced by the National Data Protection Bureau (NDPB) on the 4th of October 2022 and was approved by the Federal Executive Council in February 2023. The Nigeria Data Protection Act 2023 (NDPA) is the first major federal legislative instrument for the processing and protection of personal data in Nigeria.

KRA Introduces Disclosure Obligations for Related Party Transactions

In a recently published Public Notice (the Notice), the Kenya Revenue Authority (KRA) has enhanced the Income Tax Company Return (the Return) on the iTax platform to provide for the declaration of related party transactions by persons with related parties and whose ascertainment of gains or profits from a business is subject to the provisions of Section 18 or Section 18A of the Income Tax Act Cap 470 Laws of Kenya (the ITA).