News & Events

MAY 2019 NEWS Aluko & Oyebode

Aluko & Oyebode (“the Firm”) has been asked to provide certain information and documentation to the Nigerian Police in connection with its role as a legal counsel to the Federal Ministry of Industry, Trade and Investment (“the Ministry”), as part of an on-going investigation into the establishment of Nigeria SEZ Investment Company Limited (“the Company”) as a special purpose public-private partnership entity. The Firm has provided the requested information and documentation and is assisting the Nigerian Police with its investigations. It is important to note that no employee or representative of the Firm has been accused of any wrongdoing.

The Firm was engaged by the Ministry on 5 June 2018 to support the legal processes for the establishment of the Company and for AO Secretarial Services Limited to act as the company secretary to the Company following its incorporation. The Firm is also providing legal advice to the Ministry on potential investments into the Company and on the legal structures for the projects which the Company intends to invest in and execute. At inception, the scope of legal services included acting as a nominee shareholder in the Company ahead of the completion of the investment agreements with third party institutional investors and international development finance institutions (“DFIs”), which include African Export-Import Bank, Nigerian Social Investment Authority and Bank of Industry.

At every stage of its engagement, the Firm has ensured that its services have been discharged in accordance with the highest professional and ethical standards and in full compliance with Nigerian law and global best practice for the establishment of public-private partnerships. In addition, the Company has been subjected to extensive due diligence processes by some of the world’s leading DFIs, who require adherence to the highest possible ethical and governance standards.