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Sumbo Akintola

Partner

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Sumbo is a Partner in the Firm of Aluko & Oyebode 

Practice Focus and Experience

Sumbo Akintola joined the Firm of Aluko & Oyebode in 2002, and became a Partner in 2008.

Sumbo is a member of the Firm’s corporate and commercial practices. She provides legal advisory services to corporations within and outside Nigeria on various corporate and commercial matters. Sumbo’s main areas of practice include:

Sumbo has been involved in a number of transactions in respect of project and infrastructure financing, corporate finance, corporate restructuring, telecommunications, media and technology including the following:

1.    Provided & still providing legal support and advisory services to a number of multinational companies in matters relating to technology, media & telecommunication. The legal advisory support focus includes:

i.    Regulatory and legal framework affecting businesses in the telecommunication sector or seeking to operate in the sector;
ii.    Divestment and restructuring by companies operating in the telecommunication sector;
iii.    Advising on the regulatory and legal framework for broadcasting;
iv.    Provision of legal advisory support to Value Added Service providers in the telecommunication sector;
v.    Advise on legal and regulatory framework for data protection, retention and transfer.

2.    Leader of the team that is currently drafting a regulation for the Nigerian Communications Commission (“NCC”) pursuant to the Nigerian Communications Act.

3.    Co-head of the legal team who provided legal advisory services to MTN Nigeria Communications Limited (MTNN) in connection with a USD 3.3billion medium term loan facility from a syndicate of Nigerian banks, offshore banks and export credit agencies used to refinance the existing local facility, and to finance MTNN’s capital expenditure and working capital requirements.  The transaction won the Trade Finance Deal of the Year by Euromoney Magazine in June 2014.

4.    Leader of the team who provided legal support and advisory services to United Cement Company of Nigeria Limited (“UNICEM”) in connection with the refinancing provided by a syndicate of Nigerian banks for the construction of a Line 2 Cement Plant and a Power Plant. The total value of the transaction was USD 680.625 Million.

5.    Provided legal support and advisory services to a South African based logistic company; Imperial Mobility International BV in connection with the acquisition of 49% stake in MDS Logistics Plc; a wholly owned subsidiary of United Africa Company of Nigeria (UACN). The total value of the transaction was USD 27 Million.

6.    Provision of Legal Advisory Support to African Development Bank (AfDB) in connection with ADB’s provision of an equity injection into African Reinsurance Corporation (“Africa Re”). Specific assignments undertaken included: review of the Equity Participation Agreement between the AfDB and Africa Re; advising on general issues of Nigerian law; drafting and reviewing corporate authorisations in respect of the transaction; co-ordinating the satisfaction of conditions precedent; rendering a legal opinion on the bindingness and enforceability of the transaction documents under Nigerian; assisting with stamping of the transaction documents.

7.    Co-head of the legal team who advised the selling SPV Shareholders in the divestiture by certain shareholders of MTN Nigeria Communications Limited of a portion of their shareholding by way of private placement exercise to select investors to broaden its Nigerian shareholder base. Approximately US$1billion was realised from the sale of a total number of 38,465,381 linked units to select beneficial investors at US$24.50 per linked unit.

Education

  • 1989 - University of Wales College of Cardiff, B.Sc. Econs (Law and Politics)
  • 1990 - Nigerian Law School, BL.