ABDUL MUHAMMED LAW PRACTICE

 Compliance for crypto businesses

How much does a crypto lawyer charge for compliance program in Nigeria?

The typical range for developing compliance plans and policies, as well as overseeing compliance requirements, falls between 12 million Naira to 30 million Naira. However, this range is quite broad and as such, in my practice, I prefer to start with an initial payment of 1 million Naira.

While this payment is non-refundable, it can be deducted from the final agreed-upon price. This initial payment allows me to engage deeply with the client, understanding their specific needs.

During this intensive process, which usually spans 2 to 3 full working days, I work closely with the client to fully grasp their situation. By the end of this period, I can provide a definitive breakdown of charges based on the client’s requirements.

I am Abdulateef Muhammed the lead lawyer at Abdul Muhammed Law Practice, I often receive inquiries about the costs associated with compliance programs for cryptocurrency businesses in Nigeria and in this post, I aim to shed light on this topic and provide some insights into the factors that influence pricing in this field.

Cryptocurrency businesses in Nigeria must adhere to strict compliance regulations to operate legally and securely. Developing comprehensive compliance programs tailored to the specific needs of such businesses requires expertise, time, and resources.

I understand the importance of transparency when it comes to pricing. While the cost of compliance programs can vary depending on the scope of work and the complexity of the business, I often receive queries about the typical charges.
Cryptocurrency business might expect to pay between 12 million Naira to 30 million Naira for a comprehensive compliance program, inclusive of developing compliance plans, policies, and overseeing compliance requirements. However, it’s crucial to note that this range is broad and subject to various factors.
To provide clarity and ensure alignment with our clients’ expectations, we typically request an initial payment of 1 million Naira. This initial payment allows us to dedicate time and resources to understanding the client’s business thoroughly. Through a collaborative and intensive process, usually spanning 2 to 3 full working days, we delve deep into the client’s operations, compliance needs, and objectives.

By the end of this process, we can provide a definitive breakdown of charges based on the client’s requirements. While the initial payment is non-refundable, it is deducted from the final agreed-upon price, ensuring transparency and fairness in our billing practices.

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