Welcome to the inaugural edition of Sophia from Governance, a new quarterly newsletter series on corporate governance.
In this series, one of our top consultants will share key insights, trends, and updates shaping the corporate governance landscape in Nigeria and beyond.
Highlights
The National Digital Economy and E- Governance Bill, 2024
This is a Bill for an Act to enable the growth of Digital Economy and digital governance in Nigeria by improving the certainty of digital transactions, digital service delivery, and matters related. The bill when enacted would provide a legal framework to support international digital trade and investments using digital means driving innovation and governance.
Expatriate Employment Levy
In February 2024 the Federal Government presented the Expatriate Employment Levy Handbook (“handbook”), which introduced the expatriate employment levy ("levy”). The levy is applicable to the private sector industries that utilise foreign workforce or rely on expatriate labour mandating them to pay US$10,000 for non-director expatriates and US$15,000 for director expatriates annually.
However, concerns were raised about the provisions of the handbook and in March 2024, the federal Government Announced the Suspension of The Implementation of The Levy.
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