
Best Banking & Finance Lawyers in Lagos
Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
List of the best lawyers in Lagos, Nigeria


CO-dunni Law Solicitors
15 minutes Free Consultation
Goldsmiths Solicitors

Adeola Oyinlade & Co
Legal guides written by Adeola Oyinlade & Co:
- The Step-By-Step Procedure of How to Apply for Microfinance Bank License Online in Nigeria
- Procedure and Requirements for Work Permit and Visas in Nigeria
- The Use of Drones for Commercial Purposes and Privacy Rights of Others

Moland Partners
15 minutes Free Consultation
Afe Babalola & Co. (Emmanuel Chambers)

IOC LAW

Nomos Legal Practice

Bloomfield Law Practice

Dentons ACAS-Law
Nigeria Banking & Finance Legal Questions answered by Lawyers
Browse our 3 legal questions about Banking & Finance in Nigeria and the lawyer answers, or ask your own questions for free.
- My bank mistakenly credited my account and I withdraw the money as I was expecting money at that time. I wasn't contacted by the bank till after 3-4weeks. Now the banks are blocking my BVN and putting my account on watch list. How do I resolve this? T
- Good day from Recososa Law Firm!Your situation involves a mistaken bank credit and subsequent withdrawal, which, while possibly done in good faith, may have legal and financial consequences that require immediate resolution. Under Philippine civil and criminal laws, mistaken bank credits are generally treated as solutio indebiti, a legal concept found in Article 2154 of the Civil Code which states that if something is received when there is no right to demand it, and it was unduly delivered through mistake, an obligation to return it arises.a.) Since you withdrew the funds believing it to be your own due to an expected deposit, there may be a valid argument of good faith. However, once the bank notifies you of the error, you are legally obliged to return the funds. Retaining the amount after demand could expose you to civil liability and, in some cases, criminal implications under Article 315 of the Revised Penal Code on estafa, particularly if there is continued refusal to return despite knowledge of the bank error.b.) The blocking of your Bank Verification Number (BVN) or watchlisting may be the bank’s internal compliance measure to mitigate loss and trace fund movements. While there may not yet be a court case filed, this step may severely affect your financial credibility and access to banking services.c.) To resolve this, you may formally communicate with the bank, express your willingness to settle the amount withdrawn in good faith, and propose a repayment plan if full restitution is not immediately feasible. This can be formalized through a written undertaking or amicable settlement, which we can help you prepare to prevent further legal escalation and assist in unblocking your banking privileges.d.) If the bank refuses to lift the restrictions even after your willingness to return the amount, you may consider legal remedies such as filing a complaint before the Bangko Sentral ng Pilipinas (BSP) for abusive banking practices or filing for judicial relief if there is reputational or financial harm arising from prolonged restrictions without due process.We highly recommend that you hire us so we can directly communicate with the bank on your behalf, protect your legal interests, and negotiate an amicable settlement or defense if legal action is already contemplated.We can schedule an initial consultation via zoom call. Client may schedule a convenient date and time of the meeting through the below calendly link:👉 https://calendly.com/recososalawfirmThere is a 2,000 Philippine Peso consultation fee but we will refund consultation fee when client hires us after the consultation. Alternatively, client can also call or text on the below contact number +639175046510 or email [email protected] are ready to assist you in resolving this matter swiftly and legally.
- recover money sent to a scammer
- Hello,It's possible to recover the said sum. For more details on how to go about it; You may Visit our Profile.
- I need an advise on handle the organisation I borrowed money from
- First, what are the terms and conditions of your loan contract?
About Banking & Finance Law in Lagos, Nigeria:
Lagos, Nigeria is a major financial hub and the economic center of Nigeria. The field of Banking & Finance Law in Lagos is concerned with the legal aspects of financial activities, including banking transactions, lending, investments, and other financial services. It encompasses a wide range of areas such as banking regulations, corporate finance, securities, insurance, and more. Understanding the laws and regulations governing Banking & Finance in Lagos, Nigeria is essential for individuals and businesses involved in the financial sector.
Why You May Need a Lawyer:
There are several situations in which you may need to seek legal advice in the field of Banking & Finance. Some common examples include:
- Disputes with banks or other financial institutions
- Negotiating loan agreements or drafting financial contracts
- Dealing with debt collection or restructuring
- Facing regulatory investigations or compliance issues
- Seeking advice on investment transactions or securities regulations
Local Laws Overview:
The key aspects of local laws relevant to Banking & Finance in Lagos, Nigeria include:
- The Central Bank of Nigeria Act
- The Banks and Other Financial Institutions Act
- The Investments and Securities Act
- The Companies and Allied Matters Act
- The Insurance Act
These laws govern the establishment, operation, regulation, and supervision of financial institutions, as well as transactions, contracts, and disputes within the banking and finance sector.
Frequently Asked Questions:
1. Can I sue a bank for unfair practices?
Yes, you can take legal action against a bank for unfair practices. It is advisable to consult with a lawyer who specializes in Banking & Finance Law to understand your rights and options.
2. What are the requirements for starting a financial institution in Lagos?
The requirements for starting a financial institution in Lagos, Nigeria are regulated by the Central Bank of Nigeria. They typically include obtaining necessary licenses, meeting capital requirements, and complying with various regulations. Consulting with a lawyer familiar with these requirements is recommended.
3. How can I ensure compliance with banking and finance regulations?
To ensure compliance with banking and finance regulations in Lagos, Nigeria, it is important to stay updated with the relevant laws and engage legal experts who specialize in this field. They can assist in establishing internal controls, conducting audits, and advising on compliance measures specific to your business.
4. What legal protections are available for consumers of financial services?
Consumers of financial services in Lagos, Nigeria are protected by various consumer rights laws and regulations. These include provisions for fair lending practices, disclosure of terms and conditions, protection of personal information, and avenues for redress in case of disputes. Consulting a lawyer specializing in consumer protection can help you understand and exercise your rights.
5. How can I resolve a banking or finance-related dispute?
Resolving a banking or finance-related dispute in Lagos, Nigeria may involve negotiation, mediation, or litigation. It is advisable to consult with a lawyer who has experience in handling such disputes to assess the best course of action based on the specifics of your case.
Additional Resources:
For additional information and resources related to Banking & Finance Law in Lagos, Nigeria, consider the following:
- The Central Bank of Nigeria (www.cbn.gov.ng) - The official website provides information on banking regulations and policies.
- The Securities and Exchange Commission (www.sec.gov.ng) - The regulatory body for securities and investments in Nigeria.
- The Nigeria Deposit Insurance Corporation (www.ndic.gov.ng) - Provides deposit insurance and promotes stability in the banking system.
Additionally, contacting local law firms specializing in Banking & Finance Law can provide you with valuable guidance and assistance.
Next Steps:
If you require legal assistance in the field of Banking & Finance in Lagos, Nigeria, it is recommended to follow these steps:
- Evaluate your specific legal needs or concerns in the banking and finance sector.
- Research and identify reputable law firms or lawyers in Lagos with expertise in Banking & Finance Law.
- Arrange initial consultations with potential lawyers to discuss your case and assess their suitability.
- Select a lawyer who understands your needs and has the necessary experience in the relevant areas of Banking & Finance Law.
- Engage the chosen lawyer to proceed with legal advice or representation.
Remember, seeking legal advice promptly is crucial to protect your rights and interests in the complex field of Banking & Finance in Lagos, Nigeria.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.