Insights

Nov 2021 NEWS

Aluko & Oyebode (the “Firm”) is pleased to have acted as Solicitors to the Trustees in connection with Ardova Plc’s establishment of a ₦60Billion Bond Issuance Programme (the “Programme”) and the issuance of ₦25.3Billion Series I (Tranches A and B) Bonds under the Programme (the “Issuance”). The Issuance marks the largest Naira-denominated bond issuance from …

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Nov 2021 NEWS

The Nigerian Communications Commission (NCC) is charged with the responsibility of introducing innovative services and practices in the Nigerian telecommunications industry, in accordance with international best practices and trends. All things going as planned, Nigeria, will by January 2022 join the league of countries that have deployed 5G. A planned week-long auction will take place …

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Nov 2021 NEWS

Aluko & Oyebode (the “Firm”) is pleased to have advised MTN Nigeria Communications Plc (“MTN Nigeria”) as Solicitor to the Issue, in connection with the successful issuance of its ₦89,999,000,000.00 Series II 10-year 12.75% fixed rate Bonds, due 2031 (the “Issuance”). The Issuance is the second bond issuance by MTN Nigeria under its ₦200,000,000,000.00 Bond …

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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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Nov 2021 NEWS

Register Today>> Aluko & Oyebode will be partnering with Sterling Bank, Sterling One Foundation, Flutterwave, Wema Bank, Chapel Hill Denham and Ouida Books to launch the maiden edition of its poetry competition themed “Nigeria Of Our Dreams” on Friday, 19th November 2021. The aim of this competition is to restore dialogue between poetry and the …

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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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Oct 2021 NEWS

Aluko & Oyebode is delighted to have acted as sole legal adviser to Nigerian Exchange Group Plc (“NGX Group”) in connection with the landmark listing by introduction of its 1,964,115,918 ordinary shares on the Main Board of Nigerian Exchange Limited (the “Listing”). The Listing was effected after due compliance with the listing requirements of NGX …

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Sep 2021 NEWS

Aluko & Oyebode (the “Firm”) is pleased to have advised Alitheia IDF on its investment in the US$3million Series A funding round by ReelFruit, a fast-growing brand involved in the manufacturing and distribution of processed dried fruits and beverage products. Under the investment round, Alitheia IDF led other investors with an investment of US$2million. The …

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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

Aluko & Oyebode has been named National Law Firm of the Year (Nigeria) at the IFLR Africa Awards 2021, announced on Thursday, 9 September 2021. The Firm received the highest number of awards for a law firm in Nigeria: National Law Firm of the Year (Nigeria) Nigerian Law Firm of the Year (M&A) Nigerian Law …

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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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Sep 2021 NEWS

We are delighted to announce that Aluko & Oyebode has maintained its Tier 1 rankings in the latest edition of IFLR1000. The Firm has been recognised for its outstanding work in multiple practice areas including Tier 1 rankings in the following: Banking Capital Markets: Debt Capital Markets: Equity Mergers & Acquisitions Project Development: Infrastructure Project …

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Aug 2021 NEWS

In April 2021, Africa Construction Law, in collaboration with some of the leading law firms in the African construction law space (including Hogan Lovells and Aluko & Oyebode), organised a week-long programme which brought together experts and stakeholders from across the globe, to discuss the opportunities, challenges and areas for growth within the construction industry …

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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 NEWS

WATCH>> Aluko & Oyebode hosted its inaugural Fintech/Private Equity Fireside Chat on 16th July 2021. This edition themed, “The Emergence of Digital Loans: Challenges, Prospects and Economic Outlook”, featured Fehintolu Olaogun (CEO and Co-Founder, CredPal). Discussions centred around the restrictive regulatory approach in relation to various Fintech products, licensing requirements, business management tools for a …

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Aug 2021 NEWS

We are pleased to announce that we have been shortlisted for the IFLR Africa Awards 2021. We are finalists in the following categories: National Law Firm of the Year: Nigeria (Capital Markets) National Law Firm of the Year: Nigeria (Loans) National Law Firm of the Year: Nigeria (M&A) National Law Firm of the Year: Nigeria …

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Aug 2021 NEWS

Aluko & Oyebode has been listed among the world’s top international arbitration law firms in Global Arbitration Review’s GAR 100 (14th Edition), the authoritative global independent researches of the best law firms specialising in international arbitration. GAR is the leading global resource on international arbitration news and community intelligence. Now in its 14th edition, the …

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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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Jul 2021 NEWS

Aluko & Oyebode is pleased to have advised Guaranty Trust Bank Plc (the “Bank”) in connection with the restructuring of the Bank through a Scheme of Arrangement into a new non-operating financial holding company, Guaranty Trust Holdings Plc (the “Holdco”) becoming the ultimate listed parent entity of the Bank and its subsidiaries (“Scheme”). Against the …

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Jul 2021 NEWS

The Partners of Aluko & Oyebode are pleased to announce the admission of Imaobong Haastrup into the Firm’s Partnership. Prior to this elevation, Imaobong was a Managing Associate in the Firm’s Dispute Resolution Practice. She joined Aluko & Oyebode in 2011 and specialises in commercial litigation and arbitration with a focus on Oil & Gas …

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Jun 2021 NEWS

The Customs and Excise Management Act Cap. C45 LFN 2004 (CEMA) is the principal legislation guiding the administration of customs and excise in Nigeria. The CEMA makes provisions regulating the importation and exportation of goods in Nigeria. Section 3 of the CEMA provides for the Customs and Excise Management Board (“the Board”) which is established …

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Jun 2021 NEWS

We are pleased to announce the appointment of Aluko & Oyebode Senior Associate, Tosin Iyayi, as the Secretary of the Insolvency and Restructuring Committee of the Nigerian Bar Association Section on Business Law. Tosin is a seasoned litigator and a core member of the Firm’s banking, insolvency, and debt recovery dispute team. She has represented …

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Jun 2021 NEWS

We are pleased to announce the admission of Ajibola Asolo, an alumnus, into the Partnership of Aluko & Oyebode, with effect from 1 June 2021. Ajibola, who is joining our Capital Markets practice, is a seasoned financial markets expert with experience in capital markets, structured and financial products, financial regulation, corporate governance, transaction and investment …

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May 2021 NEWS

Aluko & Oyebode in collaboration with international law firm Baker Mckenzie, hosted a virtual Oil & Gas Construction Law Roundtable series for select senior oil and gas stakeholders operating in Nigeria, which took place on 26th January 2021, 4th, 18th, and 25th February, and 2nd March 2021. The series offered participants insight in addressing current …

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May 2021 NEWS

Aluko & Oyebode is pleased to have advised MTN Nigeria Communications Plc on the establishment of its ₦200,000,000,000.00 Bond Issuance Programme and the issuance of the ₦110,000,000,000.00 Series 1 Bonds. The Transaction is the first bond issuance by a Nigerian telecommunications company and one of the largest bond issues by a corporate entity in the …

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May 2021 NEWS

Aluko & Oyebode IP news team brings you the Second Quarter Volume 2 of our Intellectual Property newsletter. Activities at the Regulatory Agencies As the government regulatory agencies continue to open activities with the public during this period: The Honourable Trademarks Registrar, Mr Shafiu Yauri joined the Nation’s think tank, Course 43 of the National …

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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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May 2021 NEWS

The Companies and Allied Matters Act, 2020 (“CAMA 2020”) has introduced some material changes to the regulation and governance of companies in Nigeria. One of such changes is the inclusion of major asset transactions. CAMA 2020 has established a procedure for companies to approve “major asset transactions.” CAMA 2020 defines a major asset transaction as …

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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

Watch on YouTube>> To commemorate World Intellectual Property Day 2021, Aluko & Oyebode hosted a webinar themed “IP and SMEs – Leveraging on IP Assets for Market Penetration and Business Growth”. Discussions included: Key Intellectual Property considerations for SMEs Protection mechanisms for IP Assets of SMEs SMEs strategies for dispute resolution SMEs market penetration strategies …

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Apr 2021 NEWS

Following the enactment of the Companies and Allied Matters Act (“CAMA”) 2020, there has been positive changes to the incorporation process of companies limited by guarantee (Ltd/Gte). The process is largely the same as in the repealed CAMA, however requirement and process for procuring the consent of the Attorney General of the Federation has been …

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Apr 2021 NEWSPUBLICATIONS

The Companies and Allied Matters Act, 2020 (“CAMA 2020”) has changed the previous provisions in the repealed CAMA on the composition of the statutory audit committee for public companies. In the repealed CAMA, the composition of the audit committee of public companies was six (6) members with an equal number of shareholders and directors. However, …

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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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Apr 2021 NEWS

The Comptroller General of the Nigeria Immigration Service (the “NIS”) has directed that all expatriates must now provide evidence of tax payment before renewal of residence or work permits, effective 01 April 2021. This directive also applies to expatriates who are nationals of the Economic Community of West African States. Prior to this, the requirement …

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Apr 2021 NEWS

The recently enacted Companies and Allied Matters Act 2020 (the “CAMA 2020”) has a great innovation which simplifies the process for striking off certain companies from the register of companies. A company can apply to the Corporate Affairs Commission (the “CAC”) for its name to be struck off the CAC register of companies on the …

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Apr 2021 NEWS

WATCH ON YOUTUBE>> Aluko & Oyebode in collaboration with Webber Wentzel hosted a webinar on Regulation of Cryptocurrency: Necessity or Overreach (A Nigerian and South African Perspective). Discussions centred around: Cryptocurrency Regulation Landscape in Nigeria: From SEC’s perspective South African Cryptocurrency Market: What works Crypto Safety and Role in Global Economy Acceptance of Digital Currency …

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Apr 2021 NEWS

The recently enacted Companies and Allied Matters Act 2020 (the “CAMA 2020”) has introduced limited liability partnerships (“LLP”) and limited partnerships (“LP”) into Nigerian companies law and this is a very welcome development which reflects global practice. Individuals and corporate entities can register LLPs and LPs. There must be a minimum of two partners and …

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Apr 2021 NEWS

These questions relate to the effects that insolvency proceedings initiated in Nigeria produce on arbitration commitments (foreign as well as national/local) involving the insolvent party. Part I: Impact of Insolvency Proceedings on Ability to Commence or Continue Arbitration Does the law of Nigeria contain any provision on the effect that the opening of insolvency proceedings …

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Mar 2021 NEWS

We are excited to announce that the Aluko & Oyebode Filmmakers Assistance Project has now commenced. We are currently supporting interesting projects in the industry and look forward to supporting others in producing films with “credible” legal content. For more information about Filmmakers Assistance Project, please click here. Applications for the 2021 session are open …

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Mar 2021 NEWS

The National Information Technology Development Agency (the “NITDA”) is empowered under the Nigerian Data Protection Regulation (“the NDPR”) to impose fines for any data breach by data controllers or processors. True to its mandate, the NITDA, on the 15 March 2021 imposed a fine of N5, 000,000[1] (Five Million Naira) on a Fintech company and …

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Mar 2021 NEWS

Aluko & Oyebode is pleased to have acted as sole legal adviser to The Nigerian Stock Exchange (“The Exchange”) in connection with the demutualisation and restructuring of The Exchange. The demutualisation process, which was effected pursuant to the Demutualisation of The Nigerian Stock Exchange Act, 2018 via a Scheme of Arrangement sanctioned by the Federal …

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Mar 2021 NEWS

Operators in the Nigerian oil and gas industry are familiar with the Guidelines issued by the Department of Petroleum Resources (“DPR”) on the release of Nigerians working in the industry. The extant Guidelines were released on 17 October 2019 and replaced the Guidelines issued by the DPR on 5 March 2015. In brief, the Guidelines …

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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

Aluko & Oyebode will be hosting a virtual event to commemorate this year’s International Women’s Day themed: “Choose To Challenge”. Discussions will centre around celebrating the work of women creatives and forging inclusive work cultures where women’s careers thrive and achievements are celebrated. SPEAKERS Olajumoke Adenowo, Principal Architect, AD Consulting Bolanle Austin-Peters, Founder, Terra Kulture Temitayo …

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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

Employment contracts play an important role in the assignment of copyright developed in the course of employment. Its terms could determine issues relating to ownership and use of such copyright. The aim of this Newsletter is to address salient issues arising from the ownership of copyright developed in the course of employment. We hope the …

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Feb 2021 NEWS

As part of Aluko & Oyebode’s (“the Firm”) commitment to provide valuable support to Nigerian businesses, two units within the Firm, namely, (i) the Telecommunications, Media, Entertainment & Technology unit; and (ii) the Dispute Resolution unit, have identified the film industry (Nollywood) as recipients of our corporate social responsibility initiative. The Firm acknowledges the hard …

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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

On 5 February 2021, the Central Bank of Nigeria (the “CBN”) issued a letter to all deposit money banks (DMBs), non-bank financial institutions (NBFIs) and other financial institutions (OFIs) to remind the foregoing regulated institutions that (further to its earlier circular dated 12 January 2017), dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is …

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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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Feb 2021 NEWS

The Nigerian Communications Commission (NCC) is charged with the general responsibility for the economic and technical regulation of the communications industry. There have been a few developments and mandates issued by the NCC in the past few weeks, notable amongst the recent development is the ongoing audit of the subscriber registration database. The NCC has …

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Feb 2021 NEWS

A regulatory sandbox is a testing environment, supervised by regulatory institutions, which allows companies to test their products and services in a controlled environment for the purpose of promoting innovation. Several countries have adopted the use of sandboxes to enhance the competitiveness of the Financial Technology (FinTech) industry and to facilitate the development of a …

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Jan 2021 NEWS

Introduction On 13 January 2021, the Central Bank of Nigeria (the “CBN”) issued a framework for Quick Response (QR) code payments in Nigeria (the “QR Framework”). The QR Framework was issued in line with the CBN’s mandates to (a) ensure the safety and stability of the Nigerian Financial System; (b) promote the use and adoption …

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Jan 2021 NEWS

Broadcasting rights are and have continually become a source of vibrant discussion amongst the various key players, notably the broadcast rights holders, and regulatory authorities trying to find a delicate balance between what oftentimes are competing interests. The aim of this Guide is to provide an overview and comparison of the broadcasting rights regimes in …

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Jan 2021 NEWS

Aluko & Oyebode in collaboration with Baker Mckenzie will host a Roundtable Series on Oil & Gas Construction Law covering the following topics: Procurement methods and risk allocation (Tuesday, 26 January 2021) Regulatory landscape, local content requirement and compliance considerations (Thursday, 4 February 2021) Effective contract management (Thursday, 18 February 2021) Dealing with contractor claims …

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Jan 2021 NEWS

The Firm is pleased to have advised the United States International Development Finance Corporation (DFC) in connection with a US$250 million tier-2 capital loan advanced to Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa. We are proud to have been involved in this key transaction which will be instrumental in bridging Africa’s …

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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

As 2020 draws to a close, we bring you the 4th volume of our IP newsletter and extend a special greeting to our clients, readers, and friends for staying with us throughout these unprecedented times. We look forward to bringing you continued updates in the New Year and use this opportunity to wish you an …

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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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Dec 2020 NEWS

On 9 December 2020, the Central Bank of Nigeria (CBN) issued a circular on the New Licence Categorisations for the Nigerian Payments System (the “New Licence Categorisations”). Key Provisions of the New Licence Categorisations Streamlining of Permissible Payment Systems Activities: The New Licence Categorisations streamlines the permissible activities for payment systems licensing into the following …

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Dec 2020 NEWS

We are pleased to announce the conferment of our Partner, Chukwuka Ikwuazom, with the rank of Senior Advocate of Nigeria (SAN) by the Nigerian Legal Practitioners Privileges Committee. He was sworn in by the Chief Justice of Nigeria at the Supreme Court, Abuja on 14 December 2020. Chukwuka Ikwuazom was elevated to Partner in the …

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Nov 2020 NEWS

Aluko & Oyebode (“The Firm”), Nigeria’s largest and leading full service law firm, in collaboration with other law firms such as Hogan Lovells, Linklaters and Baker Mckenzie, as well as the Lagos Chamber of Commerce International Arbitration Centre (LACIAC) and Association for Consulting Engineers in Nigeria (ACEN), hosted a virtual regional training workshop on dispute …

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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

Roaming service in the international space is almost taken for granted because there are different dedicated frequency bands applicable to the same technology in different jurisdictions. Thus, there is a need to situate this discussion in the national space. The underlying principles for national roaming is the same for international roaming i.e. they both enable …

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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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Oct 2020 NEWS

The Firm is delighted to have advised Stripe, a global fintech company, in connection with its proposed acquisition of Paystack. The Firm’s transaction team was led by Partner, Oludare Senbore, with associates, Temitope Sowunmi, Oluwatamilore Oluwalaiye, and Nadia Ambah.

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Oct 2020 NEWS

The Nigerian Communications Commission (“NCC”) further to its mandate as the regulator of the communications industry has lifted the suspension on the Spectrum Trading Guidelines (the “Guidelines”), 2018. As you may recall, the NCC had, earlier in May 2020, suspended the Guidelines in order to review the Guidelines with the objective of optimising the usage …

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Oct 2020 NEWS

Aluko & Oyebode (the “Firm”) is delighted to have acted as sole Nigerian legal counsel in connection with the successful issuance, by Africa Finance Corporation (“AFC” or the “Corporation”), of its inaugural CHF150 Million Regulation S Senior Unsecured Benchmark Green Bond (“the Bond”) due 2025 (the “Bond Issuance”) for which the Firm represented the Joint …

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Oct 2020 NEWS

General Activities at the Regulatory Agencies following the Easing of Lockdown in Nigeria The Nigerian government has gradually eased the lockdown by issuing fresh guidelines and following the issuance of the guidelines, the Trademarks, Patents and Designs Registry; the Nigerian Copyright Commission (NCC); the Nigerian Agency for Food and Drugs Administration and Control (NAFDAC); the …

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Sep 2020 NEWS

On 26 March 2020, the National Broadcasting Commission (the ”NBC”) issued the amendments to the 6th Edition of the Nigeria Broadcasting Code (the “Amendments”). At the core of the Amendments is the removal of practices identified by the NBC as anti-competitive. The Amendments seek to restrict broadcasters and licensees of the NBC from entering into …

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Sep 2020 NEWS

Aluko & Oyebode is delighted to have received the Environmental & Renewables Team of the Year Award at the African Legal Awards 2020. The award announcement was made during a virtual award ceremony hosted by Legal Week and the Corporate Counsel Association of South Africa on 17 September 2020. This is the second time that Aluko & Oyebode is …

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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 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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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 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

The National Information Technology Development Agency (The ”NITDA”) is the Nigerian agency mandated under the National Information Technology Development Act (the “Act”) to create a framework for the regulation of Information Technology and all matters related thereto. To promote speedy resolution of disputes arising in the ICT sector, the NITDA, on the 22nd of July …

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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

On Monday, July 20, 2020, the Federal Inland Revenue Service (“FIRS”) issued a public notice clarifying the administration of stamp duties in Nigeria (the “Public Notice”). The Public Notice among other things sets out the basis of stamp duty payments as well as the applicable stamp duty rates for various chargeable instruments. One of the …

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Jul 2020 NEWS

The Lagos State Government has taken a different approach by setting up a special purpose vehicle, Western Telecoms and Engineering Limited, (the “Company”) for the purpose of its unified fibre duct infrastructure and connectivity project. This project was approved under the Lagos State Public Private Law by the Lagos State House of Assembly in alignment …

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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 COVID-19NEWSNEWSLETTERS

DOWNLOAD WEBINAR SLIDE DECK In this webinar, we focused on Nigerian and English law issues arising in the commodities and shipping industries as a result of COVID-19 and Oil Price Disruption. This webinar was jointly presented by Aluko & Oyebode and Reed Smith. Topics include amongst others: Force majeure under sale contracts and charterparties; Negative …

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Jul 2020 NEWS

The Citizenship and Business Department of the Ministry of Interior (the “Department”) which is responsible for issuing business permit and expatriate quota positions, has issued a revised handbook on Expatriate quota administration (the “Handbook”). The Handbook outlines the services that the Department offers, general rules and documentation requirements FOR business permits and expatriate quota positions, …

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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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Jun 2020 NEWS

In continuation of its efforts towards building a financial services sector that promotes innovation, the Central Bank of Nigeria (the “CBN”) on 23 June 2020 issued a Circular PSM/DIR/CON/CWO/07/011 to all Deposit Money Banks, Mobile Money Operators and Payment Service Providers (the “Circular”). By the Circular, the CBN stated that it had published an exposure …

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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 NEWS

Aluko & Oyebode (the “Firm”) is delighted to have acted as sole Nigerian legal counsel in connection with the issuance, by Africa Finance Corporation (“AFC” or the “Corporation”), of a US$700 Million Regulation S Eurobond due 2025 with a coupon of 3.125 percent (the “Eurobond Issuance”) for which the Firm represented the Joint Lead Managers …

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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 National Information Technology Development Agency (the ”NITDA”) is the Nigerian agency mandated under the National Information Technology Development Act (the “Act”) to create a framework for the regulation of Information Technology whilst preserving and ensuring the privacy of Nigerians. The NITDA, in recognition of Government agencies as the biggest processors of personal data of …

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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

WATCH ON YOUTUBE>> Aluko & Oyebode hosted its Fintech/ Private Equity Webinar themed “Enabling Regulation: The Need for Stakeholders to Better Facilitate and Promote Innovation” on Thursday, 11th June 2020 at 12:00PM. As much as innovation by companies and industries is usually seen as curtailed by regulations, regulatory efforts are also easily challenged and frustrated …

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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 NEWS

Aluko & Oyebode is pleased to have advised Goodwell Investments (“Goodwell”) on its participation in Tomato Jos’ €3.9 million Series A round funding. Goodwell, via its West Africa partner Alitheia Capital, led the round with participation from Acumen Capital Partners and VestedWorld. Tomato Jos, a leading agricultural production company, was founded in 2014 with a vision to make tomato …

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May 2020 NEWS

Our flash note on 20 May 2020 (click here) showed that Ekiti state was the first to comply with the Federal Government’s directive to reduce Right of Way (RoW) by reducing the RoW charges from N4,500 (Four Thousand Five Hundred Naira only) to N145 (One Hundred and Forty-Five Naira only), (approximately US$0.37 (Thirty-Seven Cents). Several …

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May 2020 NEWS

The Firm is pleased to have advised Axxela Limited in the establishment of its ₦50 Billion Bond Issuance Programme and the issuance of its ₦11.5 Billion Series 1 Bonds with a 24% oversubscription. Axxela Limited, a portfolio company with a vision of becoming the preferred and fastest-growing gas & power firm in sub-Saharan Africa, has …

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May 2020 NEWS

Right of Way charge is a levy paid by telecommunication companies to state governments, permitting telecommunication companies to dig up the roads and install telecommunications hardware such as optic fibre cables that carry internet traffic. The Right of Way charge has been fraught with inconsistencies across the states in terms of charges and has negatively …

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Apr 2020 COVID-19NEWSPUBLICATIONS

As some key states in Nigeria enter into the fourth week of lockdown due to the COVID-19 Pandemic, different sectors are considering the impact of the pandemic and various regulatory interventions on their operations. In the financial services sector, while some corporates could potentially be looking to banks for funding to bridge liquidity gaps, lenders …

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Apr 2020 COVID-19NEWSPUBLICATIONS

CBN Regulatory Interventions The CBN has made a number of interventions to mitigate the economic impact of the pandemic. These interventions include the creation of a N50 billion credit facility targeted at households and SMEs affected by the pandemic, a N100 billion credit facility specifically aimed at the healthcare sector to meet potential increased demand …

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Apr 2020 COVID-19NEWS

The National Information Technology Development Agency (The”NITDA”) is the agency with supervisory powers to promote, develop and regulate the information and communications technology (ICT) sector in Nigeria. Having identified the role of the ICT sector in earlier an communique (click here) as critical, the NITDA upon the direction of the Honourable Minister of Communications and …

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Apr 2020 COVID-19NEWSNEWSLETTERSPUBLICATIONS

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, social distancing rules and the suspension of court sittings across the Federation, except for urgent, essential and time bound matters. These measures have had a severe …

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Apr 2020 COVID-19NEWS

The National Information Technology Development Agency (the ”NITDA”) is statutorily mandated under o the National Information Technology Development Act (the “Act”) to collaborate with any local or state Government, company, firm, or person in any activity, which in the opinion of the agency is intended to facilitate the attainment of the objective of the Act. …

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Apr 2020 COVID-19NEWS

The National Information Technology Development Agency (the ”NITDA”) in line with its mandate to develop, standardise and regulate Information technologies and data interchange has advocated for the use of Internet of Things (“IoT”) in the fight against COVID-19. The collection and collation of data on a real time basis has become critical in the fight …

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Apr 2020 COVID-19NEWS

Following the Federal Government’s directive on the 23rd of March, 2020, to restrict international flights into and out of Nigeria in a bid to contain the spread of the coronavirus, the Ministry of Interior on the 6th of April 2020, has issued a notice that it will extend at no cost, visitors’ visas and resident …

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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

On 15 April 2020, The Nigerian Stock Exchange (the “NSE”) published the “Guidance on Companies’ Virtual Board, Committee, and Management Meetings” (the “Guidance”) in response to the legal and regulatory uncertainties occasioned by the COVID-19 pandemic and the current inability of companies’ board, board committees and management teams to hold physical meetings. The Guidance provides …

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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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Apr 2020 COVID-19NEWS

WhatsApp, the Facebook owned instant messaging app (the “Company”) is imposing new restrictions on its forwarding feature in order to slow the dissemination of fake news through frequently forwarded messages. The intention behind this is to disrupt false COVID-19 information and to curtail the spread of misinformation. Under the new restriction, a user who receives …

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Apr 2020 COVID-19NEWS

In a bid to contain the spread of the Coronavirus and manage the impact of the pandemic on lives and the economy, Lagos State Government issued the Infectious Diseases (Emergency Prevention) Regulations 2020 (“Regulations”) on 27 March 2020. The Regulations were passed pursuant to the Lagos State Health Law 2015 and Section 8 of the …

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Apr 2020 COVID-19NEWS

The Department of Petroleum Resources (“DPR”) on 30 March 2020 issued a Circular directing all oil & gas operators, contractors and service providers to take steps to mitigate the spread of Coronavirus (“COVID-19”) at project/construction sites by: ensuring safety and welfare of all personnel; ensuring strict compliance with relevant Government directives on social distancing, curfew, …

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Apr 2020 COVID-19NEWS

On 25 January 2019, the National Information Technology Development Agency (“the NITDA”) issued the Nigerian Data Protection Regulation (“the Regulation”) to regulate organisations that collect and process personal data (“Data Controllers”). The Regulation mandates Data Controllers, who process the personal data of more than 2,000 subjects, to submit a summary of their organisation’s data protection …

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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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Mar 2020 NEWS

The National Housing Fund Act 1992 (the “Act”) establishes the National Housing Fund (the “Fund”) into which deductions from employees’ salaries and other monies required by the Act are paid. Any employee earning N3,000 (three thousand Naira) and above per annum in either the public or private sector in Nigeria is required to contribute 2.5% …

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Mar 2020 NEWS

Aluko & Oyebode is pleased to have advised Orange Digital Ventures LLC (ODV), a strategic corporate venture fund of the Orange Group, on the US$1.5 Million seed investment round in Youcheck Online Services Limited (Youverify). The investment forms part of the €50 million African corporate venture fund launched by ODV to boost Africa’s mobile & …

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Mar 2020 NEWS

In response to the Coronavirus (COVID-19) pandemic and the guidelines issued by WHO, we would like to keep you abreast of the measures Aluko & Oyebode is taking to ensure the safety of our staff, clients and work environment. Our people are our greatest asset, and our first priority remains to ensure their safety and …

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Mar 2020 NEWS

The Partners of Aluko & Oyebode are pleased to announce the admission of Funmilayo Otsemobor into the Firm’s Partnership, with effect from 1 April 2020. Funmilayo joined Aluko & Oyebode in 2009 and is a core member of the Firm’s Banking & Finance Practice. She has robust experience in Project & Infrastructure Finance, Banking Law, …

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Mar 2020 NEWS

On 25 January 2019, the National Information Technology Development Agency (“the NITDA”) issued the Nigerian Data Protection Regulation (“the Regulation”) to regulate organisations that collect and process personal data (“Data Controllers”).  The Regulation empowers the NITDA to register and license Data Protection Compliance Organisations (“DPCOs”), who are required to monitor, audit, conduct training and data …

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Mar 2020 NEWS

Aluko & Oyebode hosted an event to commemorate this year’s International Women’s Day themed: “An Equal World is an Enabled World”. Discussions centred around the need for women to constantly develop, gain and acquire skills in an ever-evolving world. Speakers Mia Essien, SAN – Managing Partner, Principles Law Partnership (Keynote Speaker) Aishah Ahmad – Deputy …

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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 NEWS

Under the Nigerian Communications Act, operators in the telecommunications space are required to install equipment with interception capability that allows law enforcement agencies on the occurrence of any public emergency or in the interest of public safety to access communication data. To provide clarity on interception, which has to date been regarded as opaque, the …

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Dec 2019 NEWS

The Federal Inland Revenue Service (“FIRS”) has issued a public notice notifying all taxpayers (Individuals, Partnerships, Enterprises, Corporate organisations) of a nationwide tax enforcement exercise commencing from 18 December 2019. Amongst the taxes listed is the National Information Technology Development Levy under the National Information Technology Development Agency Act (“NITDA”). The NITDA levy applies to …

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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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Jun 2019 NEWS

According to recent media reports, the President of the Federal Republic of Nigeria, as part of the 2019 budget has directed the Nigerian National Petroleum Corporation (NNPC) to reduce its share in various joint ventures (JV) with international oil and gas companies (IOCs) to 40 per cent in the 2019 fiscal year. The NNPC currently owns …

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May 2019 NEWS

The National Insurance Commission (“NAICOM”) on May 20, 2019 published Circular No: NAICOM/DPR/CIR/25/2019 (“the Circular”), on the review of the minimum paid up capital for insurance and reinsurance companies. The Circular applies to all insurance and reinsurance companies except Takaful [see below] operators and micro-insurance companies.

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May 2019 NEWS

*VP reassures investors of government’s interest in achieving objectives of SEZs  *FG condemns negative reports on NSEZCO The Federal Government has assured the strategic investment partners and advisers of the Nigeria Special Economic Zone Investment Company Limited (NSEZCO) of its commitment to the development of special economic zones across the country.  The assurance was given …

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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

Friday 17, May Aluko & Oyebode advised MTN Group Limited in connection with the Listing by Introduction of its Nigerian subsidiary, MTN Nigeria Communications Plc (“MTN Nigeria”) of its entire ordinary shares on The Nigerian Stock Exchange. The listing, which is the largest listing by introduction on the Nigerian Stock Exchange, resulted in MTN Nigeria …

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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

We congratulate our Associate, Inyene Robert, who has been selected for the 2019 Africa Arbitration Academy, which is scheduled to hold in London. The 2019 cohort is the representation of about 15 countries in Africa. Inyene is an Associate in the Firm’s Litigation, Arbitration and ADR Practice Group. Inyene completed her LL.B programme as the …

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May 2019 NEWS

Aluko & Oyebode commemorated this year’s World Intellectual Property Day with a forum themed: “Reach for Gold: Intellectual Property and Sports”. This forum was organised in collaboration with the American Business Council, Lagos Chamber of Commerce International Arbitration Centre (LACIAC) and the Anti-Counterfeiting Collaboration (ACC) of Nigeria. The event speakers from the sports and business community, sports …

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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 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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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

Businesses and investors are increasingly looking to enter Africa and expand operations across the continent. Nigeria and South Africa are two of Africa’s strongest economies with 2019 likely to unlock even greater opportunities in these countries. Recognising this and responding to client needs, Aluko & Oyebode and leading South African law firm, Webber Wentzel, recently …

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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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Jan 2019 NEWS

We are proud to sponsor the first Regional Training Workshop on Dispute Management in Africa Infrastructure Projects that was held in Lagos, Nigeria on Friday, 18 January 2019. The workshop was collaboratively executed by the firm of Aluko & Oyebode in conjunction with the Lagos Chamber of Commerce International Arbitration Centre (LACIAC), the Association for Consulting Engineering in Nigeria (ACE) – …

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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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Aug 2018 NEWS

We are delighted to be a finalist in this year’s edition of the Law Digest Africa Awards. We have been shortlisted in nine categories.

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Aug 2018 NEWS

The Nigerian Communications Commission (NCC) and the National Lottery Regulatory Commission (NLRC) have on Monday, 6th August 2018 signed a Memorandum of Understanding (MoU) on regulation of lottery activities on telecommunications platforms.

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Jul 2018 NEWS

Aluko & Oyebode advised Allianz SE (“Allianz”) in connection with the acquisition of 99.03% of the outstanding shares of Ensure Insurance Plc from Greenoaks Global Holdings Limited. Ensure Insurance Plc offers life and non-life insurance services in Nigeria.

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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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May 2018 NEWS

The Nigerian Senate on Tuesday 15th of May 2018 repealed the Companies and Allied Matters Act (“CAMA”) Cap C20 Laws of the Federation of Nigeria 2004 and passed its re-enactment of the law after twenty-eight (28) years of its being in force. 

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Apr 2018 NEWS

We are delighted to announce that Aluko & Oyebode has been ranked a top-tier Nigerian law firm by Legal 500 EMEA 2018.

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Mar 2018 NEWS

The Lagos State House of Assembly recently passed the Lagos State Electric Power Sector Reform Law (the “Law”) and same has since been assented to by the Lagos State Governor. The Law essentially aims to boost electricity supply in Lagos State (the State) through the establishment of an embedded power scheme and the creation of offences for energy theft. 

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Feb 2018 NEWS

We are delighted to announce that Aluko & Oyebode has been recognised as a leading firm in the 2018 Edition of Chambers Global.

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Feb 2018 NEWS

On 29th January 2018, the Lagos State House of Assembly has passed a Law to Provide For The Consolidation Of Property And Land Based Charges And Make Provisions For The Levying And Collection Of Land Use Charge In Lagos State; otherwise referred to as the Land Use Charge Law of Lagos State, 2018 (the “LUC Law”).

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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 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

We are pleased to announce the election of Aluko & Oyebode Partner, Tonye Krukrubo, as the Vice Chairman of the Chartered Institute of Arbitrators, UK (Nigeria Branch), Port Harcourt Chapter.

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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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Dec 2017 NEWS

We are pleased to announce the appointment of our Intellectual Property Partner, Uche Nwokocha, to the Board of the International Trademark Association (INTA), for a 3-year period, commencing January 2018. 

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Nov 2017 NEWS

The Partners of Aluko & Oyebode are pleased to announce the admission of Hamid Abdulkareem into the Firm’s Partnership, with effect from 1 January 2018.

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Nov 2017 NEWS

The Nigerian Investment Promotion Commission (“NIPC”) in partnership with the Federal Inland Revenue Service (“FIRS”) has, on Friday, 3 November 2017, issued the first edition of a compendium of tax and sector-wide fiscal incentives (the “Compendium”). 

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Nov 2017 NEWS

In the era of declining oil revenues and the government’s drive to shore up tax revenues, it is no wonder that our proverbial Caesar – the Federal Inland Revenue Service (the “FIRS”) – is seeking to clarify the chargeable rates on various instruments and enforce payments of stamp duties more efficiently. Whilst the FIRS’ actions are laudable, any such actions by the FIRS must be within the ambit of the Stamp Duties Act (the “SDA”). To put this simply, Caesar cannot ask for more than the law permits.

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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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Oct 2017 NEWS

Aluko & Oyebode is pleased to have retained its ranking as a Top Tier Firm (Tier 1) in all 7 practice areas in the latest IFLR1000 Guide. 

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Oct 2017 NEWS

Partner, Oludare Senbore contributes to the Lawyer Monthly Magazine, September 2017 Issue. He discussed how Nigeria is progressing post-recession. The excerpt below provides a little insight into what was discussed:

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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

In line with its mandate to promote a sound financial system in Nigeria, the Central Bank of Nigeria (the “CBN”) on 14 June 2017 released a circular titled “Exposure Draft of the Framework for Licencing, Regulation and Supervision of Private Asset Management Companies in Nigeria”.

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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

Following the success of the INTA first regional meeting in Africa titled “Building Africa with Brands”, held in Cape Town, South Africa, INTA has introduced the Roundtable (usually hosted in U.S cities) to Africa for the first time. 

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Mar 2017 NEWS

We are pleased to announce the appointment of Aluko & Oyebode Senior Associate, Funmilayo Otsemobor, as the Secretary of the Banking, Finance and Insolvency Committee of the Nigerian Bar Association Section on Business Law.

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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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Mar 2017 NEWS

We are proud to announce that Aluko & Oyebode has been recognised as a leading firm in the 2017 Edition of Chambers Global. 

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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

We are delighted to announce that the reputable legal guide IFLR1000 has recommended Aluko & Oyebode as a top tier law firm in seven practice areas in its global ranking for 2017:

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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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Sep 2016 NEWS

We are delighted to be a finalist in this year’s edition of the Law Digest Africa Awards. We have been shortlisted in three categories:

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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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Aug 2016 NEWS

We are proud to have been shortlisted for African Legal Awards 2016 – African Law Firm of the Year (Large Practice) for 3rd year in a row. 

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Jul 2016 NEWS

Nigeria offers protection for a range of intellectual property rights including copyrights, trademarks, patents and designs. Being largely an importer of technology and finished products, trademark rights remains the most significant…

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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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Jul 2016 NEWS

Tunde Fagbohunlu SAN (Partner, Head of Litigation, Arbitration and ADR Groups, Aluko & Oyebode, Nigeria), John Miles (Managing Director of JMiles & Co, Nairobi) and Kamal Shah (Partner, Head of the Africa Group, Stephenson Harwood, London) have co-authored this comprehensive account of arbitration in key jurisdictions in Africa. The book was written in conjunction with leading African arbitrators and lawyers.

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Apr 2016 NEWS

The 14th Bankole Olumide Aluko (BOA) Football Tournament Closing Ceremony as was much expected, came to a successful end. he closing ceremony as usual opened with the third-place playoff match as it was last year between Aluko & Oyebode and Tayo Oyetibo & Co/Bayo Osipitan & Co. 

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Apr 2016 NEWS

The Nigerian State has an objective to improve and protect the air, land, water, forest and wildlife of Nigeria.  The National Environmental Standards and Regulations Enforcement Agency (Establishment) Act, 2007 (“NESREA Act”) is the primary environmental legislation in Nigeria. 

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Apr 2016 NEWS

We are delighted to announce that Aluko & Oyebode has been ranked a top-tier Nigerian law firm by Legal 500 EMEA 2016 in four practice area

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Mar 2016 NEWS

We are proud to announce that Aluko & Oyebode has been recognised as a leading firm in Chambers Global 2016 with Band 1 Rankings in 4 Practice Areas:

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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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Nov 2015 NEWS

Simeon Obidairo to speak on “International Co-operation in Fraud and other Economic Crime Investigation, Use of Mutual Assistance and Multi-Jurisdictional Asset Freezing Orders” at the 3rd Annual Cross-Border Litigation And Asset Recovery Forum 2015, 5 November 2015, Lagos, Nigeria.

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Oct 2015 NEWS

We are delighted to announce that IFLR1000 2016 has recommended Aluko & Oyebode as a top tier law firm in seven practice areas:

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Sep 2015 NEWS

We are pleased to announce that our Partner, Adeniyi Adegbonmire, has been conferred with the rank of Senior Advocate of Nigeria (SAN) by the Nigerian Legal Practitioners Privileges Committee. He was sworn-in by the Chief Justice of Nigeria at the Supreme Court, Abuja on 21st September 2015.

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Jun 2015 NEWS

The Bankole Olumide Aluko (BOA) Football Tournament 2015 was a huge success. The closing ceremony started with the third place play-off match between Aluko & Oyebode and Tayo Oyetibo & Co./Bayo Osipitan & Co. 

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May 2015 NEWS

Mr. Gbenga Oyebode, MFR is a founding Partner of Aluko & Oyebode and is also the Chairman of the management board of Aluko & Oyebode. Over the years, Mr. Oyebode has development significant experience in project finance, corporate law, energy and natural resource, telecommunications and aviation law…

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May 2015 NEWS

luko & Oyebode acted as Nigerian Legal Counsel to Seplat Petroleum Development Company Plc (“the Borrower”) in connection with the provision of credit facilities to the Borrower by a syndicate of…

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May 2015 NEWS

In an interview featured in International Trademark Association (INTA) Daily News, Aluko & Oyebode Partner, Uche Nwokocha spoke…