Lexsetters

At the South East Vision 2050 Stakeholders Forum, our Partner and Head of our Sports Law Practice, , emphasized the need for a deliberate grassroots-driven approach to sports development across the region. Sustainable progress in sports, he noted, must begin with accessible community-level participation, supported by modern sporting facilities, structured youth pathways, and continuous capacity building for sports administrators and leaders.

From a sports law and governance perspective, he highlighted that the future of sports development in the South East—and indeed Nigeria—depends on strong institutional frameworks that ensure accountability, transparent investment, athlete protection, and effective policy implementation. When infrastructure, governance, and leadership development move together, sports becomes not only a tool for recreation but also a powerful engine for youth empowerment, economic growth, and social cohesion.

At Lexsetters LLP, the Sports Law Practice Team remains committed to advancing legal, regulatory, and policy-driven solutions that strengthen sports institutions, support grassroots initiatives, and unlock the full developmental potential of sports across our communities.

When the news broke that the Nigerian sprint queen Favour Ofili was considering switching nationality to represent Turkey, it stirred more than headlines. It stirred hearts. While nationality swaps are not new in international sports, the governing rules under World Athletics provide a detailed framework balancing the freedom of the athlete with the integrity of sports. For many Nigerians, Ofili is not just a name on the track—she’s a symbol of promise, never say die spirit and excellence. But behind this proposed switch lies a deeper legal story, and an even deeper human one: the push and pull between personal opportunity and national identity. In this article, we analysed the ‘Transfer of Allegiance Regulations (Book C-C3.4) of the World Athletics approved by Council on 13 July 2022 and took effect from 15 August 2022 (the “Regulations”), the Eligibility Rules of World Athletics (the “Eligibility Rules”), and their interplay with other global sports governance frameworks such as the Olympic Charter. Click the link below to read the full article.

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Merry Christmas

The Corporate Affairs Commission (the “Commission”) has extended the grace period for the full application of penalties for failure to file annual returns by companies, from 1st January 2024 to 1st April 2024. This is contained in the public notice issued by the Commission dated 28th December 2023.

The Commission had in its earlier public notice of 2nd November 2023, stated that it shall commence the full application of penalties as prescribed by the Companies and Allied Matters Act 2020 (“CAMA”) and Companies Regulations of 2021.

While this extension of time does not affect the striking off proceedings commenced by the Commission prior to its public notice of 2nd November 2023, all entities registered under the CAMA, including limited liability companies, limited liability partnerships, limited partnerships, business names, and incorporated trustees, are encouraged to use this opportunity to file their annual returns to date.

https://lnkd.in/d5sWxJrA

Regulatory Compliance Update - Minimum Paid-Up Capital for Companies with Foreign Participation