Insights

Nov 2021 NEWS

We are delighted to announced that Aluko & Oyebode has been named Law Firm of the Year (Large Practice) at the ESQ Nigerian Legal Awards 2021. This marks the second consecutive year that the Firm has received this prestigious recognition. The Firm received the following awards: Corporate and Commercial Team of the Year Mining Team …

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Oct 2021 NEWS

Aluko & Oyebode is pleased to have advised the Edo State Government on the repeal of the Edo State College of Nursing and Midwifery Law 2015 and enactment of the Edo State College of Nursing Sciences Law. The Firm, in collaboration with relevant policymakers in the health sector in Edo State, reviewed and drafted the …

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Sep 2021 PUBLICATIONS

The Securities and Exchange Commission (“SEC” or the “Commission”) on 30 August 2021 introduced new rules to the provisions on mergers, takeovers, and acquisitions (the “New Rules”), amending the provisions of the SEC Rules and Regulations 2013 (as amended) (the “SEC Rules”). The New Rules contain provisions pertaining to certain forms of business divestitures such …

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Sep 2021 NEWS

The Partners of Aluko & Oyebode are pleased to announce the admission of Adeolu Idowu into the Firm’s Partnership. Adeolu, who will head our Governance Risk & Compliance (GRC) practice, is a seasoned expert with experience across several sectors including Oil & Gas and Telecommunications. At different times, she was a top management executive in …

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Sep 2021 NEWS

We are honoured to have received the Competition and Regulatory Team of the Year and Property and Construction Team of the Year (African Firm) Awards at the prestigious African Legal Awards 2021. The awards ceremony was held virtually on Friday, 3 September 2021 and it was hosted by Legal Week and the Corporate Counsel Association …

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Aug 2021 PUBLICATIONS

Background and Introduction of the Petroleum Industry Act, 2021 On 16 August 2021, the President of the Federal Republic of Nigeria assented to the Petroleum Industry Act, 2021 (the “Act”). The key objective of the Act is to restructure and transform the Nigerian oil and gas industry. The Act provides legal, governance, regulatory and fiscal …

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Aug 2021 NEWS

The Federal Government of Nigeria (“FGN”) has directed the Federal Inland Revenue Service (“FIRS”) to collect and remit the statutory deductions due to the National Agency for Science and Engineering Infrastructure (“NASENI”) pursuant to the National Agency for Science and Engineering Infrastructure Act, Cap N3, Laws of the Federation of Nigeria, 2010 (the “Act”). The …

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Aug 2021 PUBLICATIONS

Over the past two years, as Nigeria grapples with the economic challenges arising from the global recession of 2018 and the covid-19 pandemic, Nigeria’s fiscal and monetary regulators have sought to deploy a number of economic and regulatory tools or interventions with the objective of stabilising the economy, facilitating and improving access of the real …

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Jul 2021 NEWS

We are pleased to be shortlisted in twelve (12) categories for The African Legal Awards 2021, the most for a law firm in Nigeria. African Law Firm of the Year – Large Practice Banking & Finance Team of the Year – Large Firm Capital Markets Team of the Year Competition and Regulatory Team of the …

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May 2021 NEWS

We are pleased to announce that our Chairman, Kofo Dosekun, and Partners, Olubunmi Fayokun, and Oghogho Makinde, have been recognised as IFLR1000 Women Leaders for 2021. Women Leaders are the leading female transactional lawyers in the world. These lawyers have impressive track records and are consistently recommended by clients and peers for the quality of their advice and service. …

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May 2021 NEWS

Aluko & Oyebode (the “Firm”) is pleased to have acted as sole Nigerian legal counsel in connection with the successful issuance of US$750 Million 2.875 per cent Rule144A/Regulation S Notes due 2028 (the “Bond Issuance”) by Africa Finance Corporation (the “Corporation”) for which the Firm represented the “Joint Lead Managers” (First Abu Dhabi Bank PJSC, …

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Apr 2021 NEWS

The Companies and Allied Matters Act, 2020 (“CAMA 2020”) has introduced the concept of significant control reporting into Nigerian company law. Persons with significant control in any company are now required to disclose to the company the particulars of such control within 7 (seven) days of acquiring such significant control. Companies, must in turn, notify …

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Apr 2021 NEWS

We are delighted to announce that Aluko & Oyebode has been ranked a top-tier Nigerian law firm in the 2021 edition of the Legal 500 EMEA, a guide to the best lawyers and law firms across Europe, the Middle East and Africa. The Firm was ranked in six (6) main practice areas that are researched and …

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Mar 2021 NEWSLETTERS

The recently enacted Companies and Allied Matters Act (“CAMA”) 2020 allows companies registered in Nigeria to have a single shareholder and single director. The single shareholder structure is suitable for individuals and corporate entities (especially foreign investors) who want to establish wholly owned entities in Nigeria. The previous mandatory requirement to have a minimum of two …

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Mar 2021 NEWS

On 21 January 2021, the Securities and Exchange Commission (“SEC”) published its approved Rules on Crowdfunding (the “Crowdfunding Rules” or the “Rules”), following the release of its draft exposure rules on crowdfunding on 28 March 2020. Crowdfunding refers to the means by which persons or entities, in want of funds for specific objectives, raise a …

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Mar 2021 NEWS

The recently enacted Companies and Allied Matters Act (“CAMA”) 2020 has introduced several changes in the way companies are regulated in Nigeria. One of such changes is that the entire share capital of companies must be fully issued. Prior to this, in the repealed CAMA 1990 every company could have a prescribed authorised share capital …

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Feb 2021 NEWS

We are pleased to announce that Aluko & Oyebode has been ranked in five (5) practice areas in the 2021 edition of Chambers Global. Additionally, the Firm received the most Band 1 practice rankings and the most individual rankings for a law firm in Nigeria. 5 Practice Area Rankings Banking & Finance (Band 1) Corporate/Commercial …

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Feb 2021 NEWS

On 7 August 2020, the Companies and Allied Matters Act (the “CAMA 2020”) was passed into law; repealing the Companies and Allied Matters Act of 1990 (the “CAMA 1990”). The CAMA 2020 introduces various changes to the administration of companies in Nigeria and in particular, has reduced the filing fees payable on the registration of …

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Feb 2021 NEWS

Aluko & Oyebode is pleased to have advised Allianz Nigeria Insurance Limited (“Allianz Nigeria” or the “Company”) in connection with the acquisition of the entire shareholding of its minority shareholders by its core shareholder, Société Fonciere Europeenne B.V through a Scheme of Arrangement (the “Scheme”). Following the completion of the Scheme, the Firm also advised …

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Jan 2021 NEWS

We are delighted to announce that Aluko & Oyebode has been named the Nigeria Law Firm of the Year at the Chambers Africa Awards 2021. Chambers and Partners, in announcing the award, described the Firm as: “A well-known firm at the forefront of the market across numerous practice areas. Aluko & Oyebode is often engaged in some …

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Dec 2020 NEWS

Aluko & Oyebode is pleased to announce the appointment of Reginald Udom as the Managing Partner of the Firm, effective January 1st, 2021. Also effective January 1st, Kofo Dosekun, the current Managing Partner, will become the Chair of the Firm’s Management Board, while current Chairman, Gbenga Oyebode, will stay actively involved as an “Of Counsel”. …

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Dec 2020 NEWS

We are pleased to announce that our Chairman, Gbenga Oyebode has been appointed by the Board of Directors of PZ Cussons Nigeria Plc as Non-Executive Director and Chairman of the Board effective 11th December 2020. Gbenga was conferred with national honours of Nigeria (Member of the Order of the Federal Republic of Nigeria “MFR” and …

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Oct 2020 NEWS

In its 2021 guide, IFLR1000 has recognised Aluko & Oyebode as a Top Tier Firm (Tier 1) in seven practice areas, namely: Banking Capital Markets: Debt Capital Markets: Equity Mergers & Acquisitions Project Development: Infrastructure Project Development: Power Project Finance Nine (9) Aluko & Oyebode partners were rated as “highly regarded”, one partner was rated …

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Oct 2020 NEWS

The purpose of this communication is to convey our deep appreciation for the support and encouragement from our clients, friends, and colleagues from far and wide during these difficult and challenging times. Earlier this year, we were faced with challenges that arose from the COVID-19 pandemic. These challenges have persisted to date. More recently in …

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Sep 2020 PUBLICATIONS

On 14 September 2020, the Securities and Exchange Commission (“SEC” or the “Commission”) published an official statement on its website communicating its position on the regulation of digital assets (also referred to as crypto assets) in Nigeria (the “Statement”) By virtue of the Statement, the SEC has taken the view that unless proven otherwise, crypto …

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Sep 2020 NEWS

Aluko & Oyebode is proud to have won the Nigerian Project Finance Firm of the Year Award at the inaugural IFLR Sub-Saharan Africa Awards 2020. Also, Kofo Dosekun, Managing Partner at Aluko & Oyebode is the recipient of the Women in Business Law Award at the inaugural 2020 IFLR Sub-Saharan Africa Awards. The IFLR Sub-Saharan Africa …

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Sep 2020 PUBLICATIONS

The enactment of the Finance Act in January 2020 has been heralded as a milestone event due to the far-reaching amendments it made to several tax statutes. The Stamp Duties Act[1] is one of the tax statutes amended by the Finance Act – the first amendment since the law was enacted in 1939. The main …

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Sep 2020 NEWS

Our flash note on the 19 of August 2020 (click here), stated that the Lagos State Film and Video Censors Board (the “Board”) had issued a notice stating that all audio and visual contents produced and sold within Lagos State will attract the payment of a 5% levy on each item. Further to the notice, the Board …

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Sep 2020 PUBLICATIONS

It is elementary law that parties are bound by the provisions of the contract or agreement which they have voluntarily entered. This typifies the doctrine of the sanctity of the contract. Consequently, the court is bound to construe only the terms of the contract in the event of an action arising therefrom. This is because the …

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Aug 2020 NEWS

WATCH ON YOUTUBE>>   Aluko & Oyebode hosted a webinar for stakeholders in the Entertainment and Sports Sector to discuss the recent amendments to the sixth (6th) edition of the Nigeria Broadcasting Code. The webinar was held on Monday, 7th September 2020 at 2:00pm. Theme: “An Inside Look on the Nigeria Broadcasting Code and its …

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Aug 2020 NEWS

On 27 August 2020, the Central Bank of Nigeria (the “CBN”) issued the revised Guidelines for Licensing and Regulation of Payment Service Banks (“PSBs”) in Nigeria (the “Revised Guidelines”). In order to leverage on technology to promote its mandate of financial inclusion, the CBN had earlier issued the 2018 Guidelines for Licensing and Regulation of …

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Aug 2020 NEWS

In continuation of the recapitalisation exercise of Insurance and Reinsurance Companies in Nigeria , the National Insurance Commission (“NAICOM” or the “Commission”) on 17 August 2020 issued a Circular No NAICOM/DPR/CIR/25-05/2020 (the “Circular”) to convey its directive on the minimum paid up share capital policy for insurance and reinsurance companies in Nigeria and provide a …

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Aug 2020 NEWS

We are pleased to announce that we have been shortlisted for the inaugural IFLR Sub-Saharan Africa Awards 2020. We are finalists in the following categories: Nigeria Capital Markets Firm of the Year Nigeria loans Firm of the Year Nigeria M&A Firm of the Year Nigeria Project Finance Firm of the Year Capital Markets Deal of …

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Aug 2020 NEWS

The Lagos State Film and Video Censors Board (the “Board”) issued a notice on 12 August 2020 stating that all audio and visual contents produced and sold within Lagos State will attract the payment of a 5% levy on each item. The Board also stated that practitioners involved in the production, sale, distribution of audio and visual …

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Aug 2020 PUBLICATIONS

The President on Friday 7, August 2020 signed into law the Companies and Allied Matters Bill, 2020. The new Companies and Allied Matters Act 2020 (the Act) repeals and replaces the extant Companies and Allied Matters Act, 1990. Some of the provisions of the Act include the following: Private companies (including foreign-owned private companies) can …

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Aug 2020 NEWS

Aluko & Oyebode is pleased to have advised the IHS Group on its Eurobonds issuance and multi-currency loan transaction which won the Corporate Debt Deal of the Year award at the Bonds, Loans & Sukuk Awards, 2020. Aluko & Oyebode acted as counsel to the initial purchasers on the issuance of the US$500,000,000.00 Notes due …

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Aug 2020 NEWS

Aluko & Oyebode is pleased to have advised AXA Mansard Insurance Plc in connection with the divestment of its shareholding from its subsidiary, AXA Mansard Pensions Limited (the “Company”). The transaction involved the provision of legal advice to AXA Mansard Insurance Plc on the sale of its shareholding in the Company to Eustacia Limited, (a …

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Aug 2020 NEWS

The Federal Ministry of Youth and Sports Development (the Ministry) headed by Mr. Sunday Dare released the Draft 2020 National Sports Industry Policy aimed at restructuring the Sports industry in Nigeria and changing the perception of sports in Nigeria from a solely recreational activity to one that can drive economic development in the country. To …

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Jul 2020 NEWS

We are pleased to announce that we have been shortlisted in three (3) categories for The African Legal Awards 2020: Environmental & Renewables Team of the Year Litigation and Dispute Resolution Team of the Year Transportation and Infrastructure Team of the Year Click Here for more information. The African Legal Awards set out to recognise exceptional achievement from within Africa’s …

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Jul 2020 NEWS

Aluko & Oyebode is pleased to have advised leading Nigerian bank, Access Bank Plc (the “Bank”) on the Nigerian law aspects of the Bank’s acquisition of the Transnational Bank (Kenya) Plc. The acquisition of the Transnational Bank (Kenya) Plc marks the entry of the Bank into the Kenyan banking market, a key gateway in East …

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Jul 2020 NEWS

Aluko & Oyebode is pleased to have advised Honoris United Universities, a pan-African education group backed by global investment firm Actis, in its acquisition of the entire shareholding of Nile University of Nigeria. The acquisition of Nile University of Nigeria marks the debut entry of the pan-African education group into West Africa. The transaction was …

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Jul 2020 NEWS

The Federal Inland Revenue Service (FIRS) will commence recovery of outstanding stamp duties including duties that have been collected on behalf of the Federal Government by state and other agencies but are yet to be remitted by the relevant ministries, departments and agencies, deposit money banks, etc. This was announced at the inauguration of the …

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Jul 2020 NEWS

In a statement published by the Department of Petroleum Resources (“DPR”) on 30 June 2020, the DPR has assured stakeholders that reforms are being implemented to ensure that the 2020 bidding round would be transparent, and not encounter similar issues as the 2003 bidding round. According to the DPR, the current framework will ensure that …

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Jul 2020 COVID-19NEWSLETTERSPUBLICATIONS

Significantly, the pandemic offers an opportunity for Nigeria to build her e-sports. Following the outbreak of COVID-19, there has been an alarming increase in the use of internet technologies in varying sectors, the sports sector inclusive. These include e-payment services, video conferencing technologies, cloud services and video streaming platforms. In the sports industry, Over-the-top (OTT) …

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Jun 2020 NEWS

We are delighted to announce that our Managing Partner, Kofo Dosekun and Partners, Olubunmi Fayokun, and Oghogho Makinde, have been recognised as IFLR1000 Women Leaders for 2020. Women Leaders are the leading female transactional lawyers in the world. These lawyers have impressive track records and are consistently recommended by clients and peers for the quality of …

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Jun 2020 PUBLICATIONS

On 30 January 2019, the President of the Federal Republic of Nigeria assented to the Federal Competition and Consumer Protection Act (the FCCP Act). Prior to the enactment of the FCCP Act, Nigeria had no comprehensive competition legislation that dealt with antitrust, abuse of dominant position and merger control issues. The regulation of merger control …

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Jun 2020 NEWS

The Lagos State government has announced its plans to revert to the pre-2018 land use charge rate. This was announced by the Commissioner for Finance, Dr. Rabiu Olowo, at the 2020 Ministerial Briefing marking the first-year anniversary of the Babajide Sanwo-Olu led administration. The Land Use Charge Law, which consolidated all property and land-based charges …

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Jun 2020 NEWS

The Department of Petroleum Resources (“DPR”) has announced the commencement of the 2020 Marginal Field Bid Round Exercise with a total of fifty-seven fields located on land, swamp and shallow offshore terrains open for offers. This bid round exercise is open to all indigenous companies and investors interested in participating in exploration and production business …

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Jun 2020 NEWS

On 3 June 2020, the National Insurance Commission (“NAICOM” or the “Commission”) issued a Circular No NAICOM/DPR/CIR/25-04/2020 (the “Circular”) conveying its decision to segment the recapitalisation process and extend the deadline for the implementation of the recapitalisation exercise by insurance and reinsurance companies. NAICOM noted that the COVID-19 pandemic has negatively impacted efforts to proceed …

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Jun 2020 NEWS

Aluko & Oyebode is pleased to have advised Sanlam Emerging Markets Proprietary Limited in connection with its acquisition of FBN Holdings Plc’s shareholding in FBN Insurance Limited. Following the transaction, Sanlam will hold a 100% equity stake in FBN Insurance Limited and its wholly-owned subsidiary, FBN General Insurance Limited. Sanlam Emerging Markets Proprietary Limited is …

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May 2020 COVID-19NEWSLETTERSPUBLICATIONS

Since the onset of the COVID-19 pandemic in Nigeria, business organisations have been considering how best to respond to its impact. Where contractual obligations have become impossible, businesses have looked to force majeure and (where applicable) frustration in order to suspend performance or terminate the contract in its entirety. However, for many businesses, the impact …

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May 2020 COVID-19NEWSLETTERSPUBLICATIONS

In Nigeria, the effects of the COVID-19 pandemic in relation to projects may arise as a result of: (i) regulatory pronouncements by federal and state governments restricting movements, shutting business operations (including construction activities as in the case of Lagos State) and imposing health and safety measures to contain the spread of the virus such …

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May 2020 COVID-19NEWSLETTERS

The directive of the President of the Federal Republic of Nigeria on 27 April 2020 provided guidance on the phased and gradual easing of lockdown measures in Abuja, Ogun and Lagos States from 04 May 2020. States were also encouraged to adapt and expand the measures as may be necessary to suit their specific circumstances …

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Apr 2020 COVID-19NEWSLETTERS

We are proud to announce the release of the Aluko & Oyebode COVID-19: Managing Disruption Podcast Series. This Series is focused on how businesses can navigate the changing dynamics in economies, following the COVID-19 pandemic. In our first podcast, Oghogho Makinde, Partner in the Corporate and Commercial practice of Aluko & Oyebode, discusses ways to …

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Apr 2020 COVID-19NEWSLETTERSPUBLICATIONS

The novel coronavirus pandemic (“Pandemic” or “COVID-19”) has impacted businesses and communities around the globe. Countries have announced varying levels of restrictions on the movement of people and trade and borders have been closed to all but essential travel. In a bid to contain the spread of COVID-19 in Nigeria, the Federal Government recently issued …

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Apr 2020 COVID-19NEWSLETTERSPUBLICATIONS

The COVID-19 pandemic has both global health and economic implications. It has been predicted that the effect of COVID-19 pandemic on the global economy may be far worse than the 2008 Global Recession. The global shutdown of borders and restriction of movement by Governments around the world has impacted businesses, large and small. In these …

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Apr 2020 COVID-19NEWSLETTERSPUBLICATIONS

Nigeria has adopted strict measures at both national and state levels to curb the spread of the COVID-19 disease. These measures include the total or partial restriction of movement and social distancing rules which have had a severe impact on the ability of companies to comply with corporate governance rules and statutory requirements of regulatory …

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Apr 2020 COVID-19NEWSLETTERSPUBLICATIONS

It is common in Nigeria, particularly in the banking and oil & gas sectors, to see labour contractors recruit workers and deploy them to third parties in furtherance of labour supply agreements. This practice, which appears to be recognised globally, creates a ternary labour relationship between the labour contractor, the end-user, and the employee who …

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Apr 2020 NEWS

Aluko & Oyebode has been ranked a top-tier firm in the 2020 edition of the Legal 500 EMEA, a guide to the best lawyers and law firms across Europe, the Middle East and Africa. The Firm remained top-tier rankings in 5 practice areas: Banking and Finance/Capital Markets; Commercial, Corporate/M&A; Energy and Natural Resources; Dispute Resolution and …

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Apr 2020 COVID-19NEWS

The National Insurance Commission (“NAICOM” or the “Commission”) has recently issued circulars to insurance operators to convey the Commission’s decisions towards mitigating the adverse impact of COVID-19 on the Insurance sector. By a Circular No NAICOM/DPR/CIR/29/2020 dated 27 March 2020, NAICOM, further to its recognition of the impact of the COVID-19 pandemic on the insurance …

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Mar 2020 COVID-19NEWS

This Advisory Update has been prepared to provide practical measures for managing the impact of COVID-19 or Corona Virus on the operations of companies/businesses operating in Nigeria. Commercial Contracts We understand that there may be concerns on how to deal with commercial contracts and any interruptions in performance of obligations as a result of the …

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Feb 2020 NEWS

Aluko & Oyebode’s position as a leading Nigerian law firm is reaffirmed in Chambers Global Rankings for 2020. 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); Corporate/Commercial (Band …

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Feb 2020

On 27 January 2020, the Nigerian Content Development and Monitoring Board issued a public notice, notifying stakeholders, particularly operators and service providers in the Nigerian oil and gas industry, of their obligation to submit statutory reports  in accordance with the Nigerian Oil and Gas Industry Content Development  Act, 2010. Read more >>

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Feb 2020

The Nigerian Immigration Service has recently issued a new Nigerian visa policy. The Nigeria Visa Policy (the “Policy”) is designed to support the attainment of the Economic Recovery and Growth Plan, improve the Nigerian business environment and attract foreign direct investment in Nigeria, amongst other things. A major highlight of the Policy is the introduction …

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Feb 2020

The Finance Act amends various provisions of Nigerian tax legislations such as the Companies Income Tax Act (“CITA”), Value Added Tax Act (“VAT Act”), Capital Gains Tax Act (“CGTA”), Petroleum Profits Tax Act (“PPTA”), Personal Income Tax Act (“PITA”) and Stamp Duties Act (“SDA”). The Finance Act also introduces amendments to the provisions of the …

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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 NEWS

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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