Insights

Nov 2019

The Department of Petroleum Resources (“DPR”), on 17 October 2019 issued the Guidelines for the Release of Staff in the Nigerian Oil and Gas Industry, 2019 (the “2019 Guidelines”), pursuant to Regulation 15A of the Petroleum (Drilling and Production) Regulations (as amended). The 2019 Guidelines repeals and replaces the Guidelines No. 1 of 2015 for …

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Nov 2019

Aluko & Oyebode and Blaugrana Sports International (BSI), the official licensee of FC Barcelona Football Academy (FCBESCOLA LAGOS) in Nigeria has entered an agreement to promote the development of sports and talent management in Nigeria. The aim of this partnership is to work closely with BSI in mitigating legal bottlenecks in the Nigerian sports industry …

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Nov 2019

It is undeniable that the social media makes sharing of information remarkably easy and reinforces the right to freedom of expression of the individual. However, the lot of every right is that it has limits. A strain on the right to freedom of expression is the duty not to cause injury to another person without …

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Nov 2019

The Private Guard Companies Act (the “PGC Act” or the “Act”), was enacted in 1986 to regulate the licensing of Private Guard Companies (“PGCs”) in Nigeria. Thirty two years after the enactment of the Act, the Minister of Interior issued the Private Guard Companies Regulations, 2018 (the “Regulations”) pursuant to his powers under section 35 …

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Nov 2019

Aluko & Oyebode is pleased to have advised Olam International (“Olam”) and Crown Flour Mills Limited (“CFM”) on the US$330 Million acquisition of Dangote Flour Mills Plc by CFM. Olam is one of the world’s largest food and agribusiness companies, operating in over 70 countries around the world. The acquisition is part of Olam’s strategy …

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Nov 2019

The Nigeria Immigration Service (NIS) has initiated a mandatory E-Registration exercise for all resident and visiting migrants in Nigeria.  The intention of this initiative is to enable the NIS to maintain an accurate representation of the migrant population in Nigeria. Thus, all non-Nigerians i.e. nationals of Economic Council of West African States (ECOWAS) and other …

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Nov 2019

We are pleased to have advised China Development Bank on its US$629 Million Financing of the Lekki Deep Sea Port project, Nigeria’s first deep seaport, and the largest non-recourse project finance transaction concluded in Nigeria in the last 5 years. The project is sponsored by Tolaram Port Investment Inc. under a concession originally granted by …

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Oct 2019

We are pleased to have advised Nigeria’s leading payment processing company; Interswitch Limited, in relation to the acquisition of a 60% stake in E’clat Healthcare Limited, a technology company providing electronic primary healthcare services. E’clat Healthcare Limited through its software provides electronic and wireless primary healthcare services to a number of hospitals, state governments and …

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Sep 2019

Aluko & Oyebode is pleased to have advised Metropolitan International Holdings (Proprietary) Limited and its affiliates (“MMI”) in connection with the divestment by MMI of its entire shareholding in Metropolitan Life Insurance Nigeria Limited. The transaction involved the provision of advice to MMI on the sale of the entire shareholding of Metropolitan Life Insurance Limited …

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Sep 2019

Aluko & Oyebode acted as Nigerian counsel to leading international banking group, Standard Chartered Plc (the “Group”) on the Nigerian aspects of the Group’s spin out from its global private equity business, and the sale of the majority of its private equity investment portfolio to ICG Strategic Equity Advisors, a unit of Intermediate Capital Group …

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Sep 2019 PUBLICATIONS

Prior to the enactment of the Electric Power Sector Reform Act, 2005 (“EPSRA” or the “Act”), the methodology for setting electricity prices in Nigeria had been vague and uncertain. One of the primary reforms that the Act introduced was to empower the Nigerian Electricity Regulatory Commission (“NERC”) to develop a cost-reflective tariff regime for the …

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Sep 2019

The Federal Government of Nigeria has in recent times, taken steps to review and introduce notable changes to the existing tax system. The changes include the introduction of a new Value Added Tax (“VAT”) rate which has been approved by the Federal Executive Council, the signing into law of the Police Trust Fund (Establishment) Act, …

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Sep 2019

Background The National Office for Technology Acquisition and Promotion (“NOTAP”) is responsible for monitoring, regulating and facilitating the inflow of foreign technology in Nigeria. NOTAP’s mandate is implemented primarily through the evaluation and registration of technology transfer agreements which are required to be submitted to NOTAP within 30 days from the effective date. The agreements …

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Sep 2019

Business organisations typically require initial and recurrent capital inflows to fund their operations and figuring out the best option for capitalising an organisation is an important decision which can have a major impact on the success or otherwise of any business organisation. While various innovative forms of financing such as crowd funding and peer to …

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Sep 2019

Competition law seeks to ensure a fair marketplace by prohibiting unfair conduct that seeks to gain a greater market share than would be realised through effective competition. Mergers and acquisition transactions are likely to have anti-competitive effects as such transactions may make it difficult for smaller companies to enter or succeed in any market. Such …

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Aug 2019

Aluko & Oyebode Partners, Olubunmi Fayokun and Oghogho Makinde have been recognised as IFLR1000 Women Leaders for the second year in a row. They are among the only six female practitioners that were recognised in Nigeria. The annual list recognizes approximately 300 female lawyers with “impressive track records” who are considered to be among the …

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Aug 2019

Nigeria has long been a challenging jurisdiction in which to obtain and enforce registered trademark rights. Recent changes represent significant and positive steps forward, as issues are finally being addressed. Earlier this year, the Nigerian Trademarks Registry published a compendium of its trademark rulings – the first time that it has done so since being …

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Aug 2019

On July 23, 2019, the National Insurance Commission (“NAICOM”) issued two circulars numbered NAICOM/DPR/CIR/25-01/2019 and NAICOM/DPR/CIR/25-02/2019 (the “Circulars”), in furtherance of its circular of May 20, 2019 which introduced a new minimum paid up share capital policy for insurance and reinsurance companies in Nigeria. The Circulars provided directives to insurance and reinsurance companies on the …

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Aug 2019

The Problem There has been a trend where third parties adopt well-known trademarks in the incorporation of their companies. By so doing, the trademark forms part of the company name of the third party. Often, such third parties proceed to register their trademark with the said name; but even where they do not register the …

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Jul 2019

Aluko & Oyebode hosted its Capital Market Roundtable discussion themed: “Engendering an Effective Regulatory Landscape for Competition Law in Nigeria – Promoting a Fairer Market” with 50 stakeholders in the Nigerian capital market and Mr. Oscar Onyema, CEO, The Nigerian Stock Exchange (NSE) as keynote speaker. Ms. Olubunmi Fayokun, Senior Partner and head of the …

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Jul 2019

We are delighted to be shortlisted in five (5) categories for The African Legal Awards 2019: African Law Firm of the Year – Large Practice Energy & Natural Resources Team of the Year Intellectual Property Team of the Year Mergers & Acquisitions Team of the Year TMT Team of the Year Click Here for more information. The African Legal …

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Jul 2019

On 25 January 2019, the Nigeria Information Technology Development Agency (the “NITDA”) issued the Nigeria Data Protection Regulation, 2019 (the “Data Protection Regulation”). The key objectives of the Data Protection Regulation include to: safeguard of the rights of natural persons to data privacy; foster safe conduct of transactions involving the exchange of personal data; prevent …

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Jul 2019

Aluko & Oyebode will be hosting its 2019 Capital Market Roundtable on Thursday, 25 July 2019 at 10:00am. The theme of the roundtable is: “Engendering an Effective Regulatory Landscape for Competition Law in Nigeria – Promoting a Fairer Market” and against this backdrop we have carefully selected topics for discussion from the perspective of different …

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Jul 2019

A Bill for an Act to repeal the Nigeria Football Association Act and enact the Nigeria Football Federation Act (“NFF Act”) has been passed by the Nigerian Senate at the National Assembly. Several commentators have opined that the Bill when passed into law will set football in Nigeria on a path for greatness as the …

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Jun 2019

Aluko & Oyebode advised Goodwell Investments, via its West Africa partner, Alitheia Capital, on its investment in MAX.ng, the pioneer app-based motorcycle hailing in West Africa. Under the investment round, MAX.ng has raised about $7.5 million from a group of investors including NovaStar Ventures, Yamaha, world-leading Japanese motorcycle and marine hardware manufacturer, Bill Gates-backed Breakthrough …

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Jun 2019

We are pleased to announce that our Chairman, Gbenga Oyebode has been appointed to the Board of Trustees of the Foundation. This statement was released by Ford Foundation on Thursday, 20th June 2019. “I am honored and privileged to join the board of the Ford Foundation. I am delighted to be part of the foundation’s …

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Jun 2019

The Nigerian Immigration Service (NIS) has launched a new Visa-On-Arrival application process for all business travellers and African Union Countries. Visitors coming into Nigeria can now apply for Visa On Arrival online prior to their arrival. The Visa On Arrival (VOA) allows visitors coming into Nigeria, to obtain their visa at the point of entry. …

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May 2019 NEWS

The National Information Technology Development Agency (NITDA) published a notice of the commencement of the full implementation of the Nigeria Data Protection Regulations 2018 (“the Notice”) on 16 May 2019.

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May 2019 NEWS

Aluko & Oyebode has once again been recognised as a leading law firm in Nigeria. The Firm was ranked as a top-tier firm in six (6) main practice areas that are researched and evaluated by Legal 500 for Nigeria. Noted practice areas include: Banking, Finance and Capital Markets; Commercial, Corporate and M&A; Dispute Resolution; Energy …

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May 2019 NEWS

Aluko & Oyebode acted as transaction counsel in connection with the initial public offering of shares (IPO) by Skyway Aviation Handling Company Plc (SAHCO), Nigeria’s most prominent aviation ground handling service provider. Under the IPO, Sifax Group (the majority shareholder of SAHCO) offered for sale 406,074,000 shares of 50 kobo each at N4.65 per share. …

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Apr 2019 NEWS

We are honoured to be a recipient of the prestigious “Special Recognition Award (Private Sector)” at the Presidential Enabling Business Environment Council (PEBEC) Awards Ceremony, held at the State House Conference Hall, Abuja. The award was presented to the Firm by Nigeria’s Vice President, Prof. Yemi Osinbajo on Wednesday, 3rd April 2019. This award was …

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Mar 2019 NEWS

As part of Aluko & Oyebode’s celebration of International Women’s Day, we dedicated our monthly learning session to Women, with the theme: “Women in Changing Times: Passion, Career, Growth and Wealth Creation.” The event was held on Thursday, 28th March 2019. The event was graced by the presence of notable industry leaders which includes: Mo …

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Mar 2019 PUBLICATIONS

The National Housing Fund (Establishment) Bill (the “Bill”) 2018, passed by both houses of the National Assembly, was on 18 February 2019 transmitted to the Office of the President for Presidential Assent. The Bill, if signed into law, will repeal and replace the extant National Housing Fund (Establishment) Act Cap N45 Laws of the Federal …

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Mar 2019 NEWS

Aluko & Oyebode is delighted to have advised Access Bank Plc (“Access Bank“) on its historic merger with Diamond Bank Plc (“Diamond Bank“). The transaction was executed in furtherance of the implementation, by Access Bank, of its 2018 5-year corporate strategic plan with the vision of becoming Africa’s gateway to the world and the world’s …

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Mar 2019 NEWSLETTERS

This legislation has been modelled, to a great extent, on the European Union competition law derived primarily from Articles 101 to 106 of the Treaty on the Functioning of the European Union.

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Feb 2019 NEWS

Aluko & Oyebode’s position as a leading Nigerian law firm is reaffirmed in Chambers Global Rankings for 2019. Aluko & Oyebode is the only Nigerian law firm to be given Band 1 rankings in four (4) practice areas in this year’s edition of the Chambers Global. Noted practice areas include Banking and Finance (Band 1); …

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Feb 2019 NEWS

The President of the Federal Republic of Nigeria on the 6th of February 2019 signed the Federal Competition and Consumer Protection Bill into law. The Bill (now an Act) is aimed at developing and promoting fair, efficient and competitive markets in the Nigerian economy with a view to eliminating anti-competitive practices, facilitating access by Nigerian …

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Jan 2019 NEWS

We are delighted to co-sponsor the 2019 Entry Level Associate Training Exercise (ELEVATE). ELEVATE is a practical inter-firm professional development programme collaboratively designed and sponsored by Aluko & Oyebode and 5 other Nigerian law firms for their respective entry-level lawyers as they begin professional careers in corporate and commercial legal practice. The ELEVATE sponsor firms …

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Dec 2018 NEWS

Introduction In June 2018 – in view of the increasing focus on cybersecurity worldwide and the rise in cyber threats both in and outside Nigeria – the Central Bank of Nigeria (CBN) issued a draft risk-based framework and guidelines on cybersecurity for deposit money banks (DMBs) and payment service providers (PSPs), which will come into …

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Dec 2018 NEWS

Aluko & Oyebode acted as transaction counsel in connection with the initial public offering of shares (IPO) by Skyway Aviation Handling Company Plc (SAHCO), Nigeria’s most prominent aviation ground handling service provider. The shares would be listed on The Nigerian Stock Exchange in the only IPO to be brought to The Nigerian capital market over …

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Nov 2018 NEWS

The Federal Government of Nigeria (FGN) has published an official gazette (“the Gazette”) of the current list of pioneer industries and products (“the List”) approved by the Federal Executive Council (“the FEC”) in August 2017. Though released in November 2018, the Gazette became operative in August 2017. The Gazette embodies the first update to the …

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Nov 2018 NEWS

We are delighted to announce that Aluko & Oyebode has retained its ranking as a Top Tier Firm (Tier 1) in all 7 practice areas in the 2019 IFLR1000 Guide, namely: Banking Capital Markets Infrastructure Energy Mergers & Acquisitions Oil & Gas Project Finance Nine (9) Aluko & Oyebode partners were rated as “highly regarded” …

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Sep 2018 NEWS

Aluko & Oyebode Associate, Mobayonle Ogunwumiju won the 2018 Nigerian Bar Association (NBA) Golf Tour. 

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Jul 2018 NEWS

Aluko & Oyebode has been shortlisted in seven categories for The African Legal Awards 2018. 

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Jun 2018 NEWS

Aluko & Oyebode Partners, Olubunmi Fayokun and Oghogho Makinde, have been recognized as IFLR Women Leaders for 2018. 

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Feb 2018 NEWS

The President, on 2nd February, 2018, signed an Executive Order for Planning and Execution of Projects, Promotion of Nigerian Content in Contracts and Science, Engineering and Technology (“Order”).

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Feb 2018 PUBLICATIONS

The 2015/2016 global crash in the price of crude oil caused a severe shock to the Nigerian economy, reliant as it is on this commodity for most of its foreign exchange earnings.

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Feb 2018 NEWS

We are delighted to announce that Aluko & Oyebode has been awarded The Chambers Global Africa 2018 Nigeria Law Firm of the Year Award.

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Dec 2017 NEWS

Merry Christmas and Happy New Year

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Dec 2017 NEWS

In a bid to enforce the use of a common identification system in Nigeria, the National Identity Management Commission (“NIMC”) recently released the Mandatory Use of the National Identification Number Regulations 2017 (the “NIMC Regulations”) made on 26th October 2017. 

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Nov 2017 NEWS

We are pleased to announce the appointment of our Partner, Dr. Simeon Obidairo, as a Senior Fellow at the School of Oriental and African Studies (SOAS), University of London.

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Aug 2017 NEWS

On Monday 7th August 2017, the Federal Ministry of Industry, Trade and Investment (“FMITI”) announced the addition of 27 new industries to the list of pioneer status industries/products. 

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Jul 2017 NEWS

We are pleased to announce the election of Aluko & Oyebode Partner, Chukwuka Ikwuazom, as the Chairman of the Nigerian Bar Association, Lagos Branch.

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Jul 2017 NEWS

The Nigerian Electricity Regulatory Commission (NERC) in exercise of powers conferred on it by section 96 of the Electric Power Sector Reform Act, 2005 (EPSRA) has developed a draft “Business Continuity for the Nigerian Electricity Supply Industry Regulations, 2017” (the draft “Regulations”) to provide business continuity measures for the smooth running of the Nigerian Electricity Supply Industry (NESI).

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Jun 2017 NEWS

Aluko & Oyebode is pleased to announce that it has won the Exceptional Single Deal Advisor of the Year Award at the Private Equity Africa Awards 2017 (PEA Awards).  This award represents the firm’s maiden recognition from PEA Awards.

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Mar 2017 NEWS

We are pleased to announce the appointment of Aluko & Oyebode Partner, Ayodeji Oyetunde, as the Vice Chairman of the Capital Markets Committee of the Nigerian Bar Association Section on Business Law.

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Feb 2017 NEWS

The Companies and Allied Matters Act1 is the basic law that regulates the legal existence and operation of all companies in Nigeria. However, there are other laws which apply to companies depending on whether they are private or public companies; 

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Dec 2016 NEWS

Aluko & Oyebode acted as Nigerian Legal Counsel to the Joint Lead Managers, Citibank Global Markets Limited, Goldman Sachs International and Standard Chartered Bank in connection with the US$800 Million eurobond issuance by IHS Netherlands Holdco B.V., the holding company of IHS Nigeria Limited, which is the largest mobile telecommunications infrastructure provider in Africa.

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Nov 2016 NEWS

Aluko & Oyebode was named the Property, Infrastructure and Construction Team of the Year at this year’s Law Digest Africa Awards held in November 4th at the Oriental Hotel in Lagos, Nigeria.

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Nov 2016 NEWS

Aluko & Oyebode acted as Nigerian counsel to Access Bank Plc (“the Bank”) on its recent US$300 Million Eurobond issuance under the Bank’s US$1,000,000,000.00 Global Medium Term Note Programme.

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Oct 2016 NEWS

Aluko & Oyebode triumphed at the ESQ Nigerian Legal Awards 2016, being named the Law Firm of the Year and the Telecommunications Team of the Year. 

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Aug 2016 NEWS

Aluko & Oyebode acted as Nigerian counsel to a consortium consisting of Sub-Saharan Africa-focused 8 Miles LLP, West Africa-focused African Capital Alliance Limited and DEG, the German development finance institution in relation to its US$80 Million equity…

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Jul 2016 NEWS

Aluko & Oyebode acted as Nigerian counsel to a consortium consisting of Vitol S.A and Helios Investment Partners in relation to the acquisition of the downstream and retail businesses of Oando Plc, a leading Nigerian integrated energy company.

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Feb 2016 NEWS

The Bankole Olumide Aluko (BOA) Football Tournament is the 5-A-Side Annual Football Tournament played in honour of one of our Founding Partners, Late Bankole Aluko Olumide, SAN.

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Nov 2015 NEWS

We are pleased to announce that Aluko & Oyebode has been declared the winner of the following Law Digest Africa Awards:

•    Law Firm of the Year 2015; and
•    Litigation and Dispute Resolution Team of the Year 2015.

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Jan 2013 PUBLICATIONS

Under the common law as applicable in Nigeria, parties to a contract are free to determine the law that will govern their contractual obligations. Such choice must be bona fide and legal and there must not be any reason to avoid the choice on the ground of public policy. Even where the seller and the debtor are resident within Nigeria and the transaction that gives rise to the receivables and the payment of the receivables takes place in Nigeria, the foregoing principle will apply. However, the mandatory provisions of Nigerian law would continue to apply to the contract.

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May 2010 PUBLICATIONS

Reproduced with permission from Law Business Research. This article was first published in Getting the Deal Through – Public Procurement 2010 (published in April 2010; Contributing Editor Hans-Joachim Prieß, Freshfields Bruckhaus Deringer). For further information please visit www.GettingTheDealThrough.com

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Nov 2009 NEWSLETTERS

The Regulatory updates October 2009 issue addresses the following:- 1. Publication of Interest Rates. Ref BSD/DIR/IGEN/CIR/01/023 Dated 14th October 2009 2.Central Bank of Nigeria Public Statement Dated 16th October 2009 3.Central Bank of Nigeria Press Statement 4.Publication of Un-audited Accounts of Banks as at September 30, 2009. Ref:SD/DIR/GEN/CIR/03/024 DATED 26TH OCTOBER 2009

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Dec 2008 PUBLICATIONS

This article appeared in the 1st edition of The International Comparative Legal Guide to: Public Procurement; published by Global Legal Group Ltd, London (www.iclg.co.uk) authored by Gbenga Oyebode and Olubunmi Fayokun

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May 2008 PUBLICATIONS

Reproduced with permission from Law Business Research. This article was first published in Getting the Deal Through – Public Procurement 2008, (published in May 2008 – contributing editor: Hans-Joachim Prieâ). For further information please visit www.gettingthedealthrough.com

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Jan 2007 PUBLICATIONS

“This article first appeared in the 2007 edition of The International Comparative Legal Guide to: PFI / PPP Projects; published by Global Legal Group Ltd, London (www.iclg.co.uk) authored by Gbenga Oyebode and Oghogho Makinde”

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Oct 2004 PUBLICATIONS

A co-publication of the World Bank, the International Finance Corporation and Oxford University Press. Aluko & Oyebode was involved in providing information towards the publication.

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