Insights

Oct 2020 NEWS
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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 PUBLICATIONS
Legal Insights

In August 2020, the Central Bank of Nigeria (“CBN”), whose mandates includes the performance of major developmental functions that are focused on the key sectors of the Nigerian economy (i.e. financial, agricultural and industrial sectors) released the Framework for the Implementation of Intervention Facility for the National Gas Expansion Programme (the “Programme”). The objectives of …

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Sep 2020 NEWS
Legal Insights

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
Legal Insights

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 PUBLICATIONS
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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 PUBLICATIONS
Legal Insights

It appears that some form clarity has now been provided by the recent pronouncement of the Executive Vice Chairman of the Nigerian Communications Commission (the ”NCC”), Prof. Umar Garba Danbatta, on the erstwhile controversial charges for USSD billing. As with most controversies, the commercial terms became a big issue between the Mobile Network Operators (MNOs) …

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Aug 2020 NEWS
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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 NEWSLETTERS
Legal Insights

The Pending Industrial Property Commission Bill (IPCOM) Over the years, efforts have been made to overhaul the current Intellectual Property laws and governing bodies by providing for the establishment of the Industrial Property Commission of Nigeria through the Industrial Property Commission Bill (IPCOM Bill). The IPCOM Bill that seeks to harmonize the Intellectual Property laws …

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Jul 2020 COVID-19NEWSNEWSLETTERS
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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 PUBLICATIONS
Legal Insights

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 COVID-19NEWSLETTERS
Legal Insights

The Presidential Taskforce on COVID-19 (the “PTF”) has issued the Revised Quarantine Protocol (the “Protocol”) for all persons arriving in Nigeria from any country (including returnees/stranded Nigerians), effective 08 June 2020. The Protocol outlines the government’s expectations of travellers into Nigeria before departure, while on board and upon arrival in Nigeria. Below are the highlights …

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Jun 2020 COVID-19NEWSLETTERS
Legal Insights

At the time of writing, the COVID-19 pandemic has resulted in the death of more than 370,000 people in the world. The rapid spread of the novel Coronavirus has disrupted global economic activity and triggered volatility in the international and local capital markets. The uncertainty occasioned by the pandemic has also adversely impacted investor appetite …

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Jun 2020 NEWS
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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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Jun 2020 PUBLICATIONS
Legal Insights

Open banking (i.e. the authorised provision of consumer banking data to third parties through application programming interfaces) looks set to drive innovation and competition in the banking sector to the benefit of customers. However, the financial services industry should be aware of the potential risks associated with opening banking, including market concentration, data compliance concerns, …

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May 2020 COVID-19NEWSLETTERS
Legal Insights

The Nigerian Civil Aviation Authority (“NCAA”) in a circular dated 27 May 2020, issued a public health protocol in conjunction with the Federal Ministry of Health for Nigerian flight crew (the “Protocol”) in a bid to curtail the spread of COVID-19 amongst flight crew members and passengers. The circular applies to airlines, airports and other …

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May 2020 NEWS
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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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May 2020 COVID-19NEWSLETTERSPUBLICATIONS
Legal Insights

The outbreak of the novel coronavirus (COVID-19) and the race by scientists all over the world to find a cure has sparked-off several issues and debates in many areas of law such as Labour/Employment law, Aviation law and Contract law amongst others. Intellectual Property (IP) Law is equally not spared as the race for a …

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May 2020 COVID-19NEWSLETTERS
Legal Insights

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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May 2020 COVID-19NEWSLETTERSPUBLICATIONS
Legal Insights

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-19NEWSLETTERS
Legal Insights

In this edition of Managing Disruption Podcast Series, our Partner, Oghogho Makinde shares her insights on how to mitigate legal risks in labour and employment matters. In order to stay afloat in these unprecedented times, most employers are faced with having to make tough business decisions regarding employment in view of the economic impacts of …

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May 2020 PUBLICATIONS
Legal Insights

Nigerian jurisprudence generally allows the joinder of a person as co-plaintiff or co-defendant to a suit pending before a court of first instance. Thus, under most of the rules of the courts of first instance, an application may be made by a party to a suit for the joinder of another person as a co-plaintiff …

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May 2020 COVID-19NEWSLETTERS
Legal Insights

Following President Muhammadu Buhari’s directive on a phased and gradual easing of the lockdown measures imposed to contain the spread of COVID-19 in Lagos, Ogun and the Federal Capital Territory, Abuja, most businesses are reopening, and employees are returning to work. As businesses reopen, the government rules for reopening must be adhered to; employers must …

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May 2020 COVID-19NEWSLETTERSPUBLICATIONS
Legal Insights

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
Legal Insights

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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May 2020 COVID-19NEWSLETTERSPUBLICATIONS
Legal Insights

The COVID-19 pandemic has resulted in the increased processing of health data globally. We have discussed below some data privacy issues organisation should be considering in light of the COVID-19 crisis in Nigeria. What type of information can be collected from individuals relating to COVID-19 that is likely to be considered personal data under Nigerian …

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Apr 2020 COVID-19NEWSLETTERS
Legal Insights

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
Legal Insights

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
Legal Insights

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 PUBLICATIONS
Legal Insights

Intellectual property (IP) pertains to creations of the human intellect, it comprises majorly of patents, industrial designs, copyright and trademark. IP right provides exclusive rights to the owners, proprietors, inventors and creators of works/innovation in order to reap commercial benefits and fully utilize from their creative efforts or reputation for a given period. It is …

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Apr 2020 COVID-19NEWSLETTERS
Legal Insights

The National Information Technology Development Agency (the ”NITDA”) is statutorily mandated under the National Information Technology Development Act (the “Act”) to regulate information and communication technology (“ICT”) matters in Nigeria. Whilst recognising the challenges faced by most organisation during COVID-19 pandemic, particularly in the context of the lockdown and the need to work remotely, the …

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Apr 2020 COVID-19NEWSLETTERSPUBLICATIONS
Legal Insights

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
Legal Insights

In response to COVID-19, various policies and regulatory measures have been introduced by the Federal Government of Nigeria (FGN) and its agencies (such as the Department for Petroleum Resources (DPR)), and by various state governments. We highlight below some of the key developments which should be borne in mind by companies active in this sector. …

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Apr 2020 COVID-19NEWSLETTERSPUBLICATIONS
Legal Insights

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 COVID-19NEWSLETTERSPUBLICATIONS
Legal Insights

The world is in the middle of a global health crisis. This has resulted in significant adverse conditions for businesses around the globe. One of the most significant consequences for the oil and gas sector is the triggering of an oil price war following disagreements about production cuts amidst the significant decline in the demand …

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Apr 2020 COVID-19NEWSPUBLICATIONS
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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 PUBLICATIONS
Legal Insights

The Nigerian Court of Appeal on 25 July 2017 delivered a landmark decision which has introduced some significant changes to the long-established litigation regime in Nigeria, specifically in the context of claims arising from crude oil spillage. Before this decision, it was legally permissible for litigants seeking financial compensation in Nigerian courts for injuries they …

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Apr 2020 COVID-19NEWS
Legal Insights

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
Legal Insights

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
Legal Insights

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 COVID-19NEWSLETTERS

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. Part of the major measures taken by the Federal Government of Nigeria and the Lagos State …

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Mar 2020 NEWS
Legal Insights

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 NEWSLETTERS
Legal Insights

NOTAP takes steps to automate registration process The National Office for Technology Acquisition and Promotion (NOTAP) held a technical training in January 2020 on the process of registering agreements with the Office using the online platform. The online registration system will give Applicants control over the registration process. NOTAP has indicated that the online registration …

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Mar 2020 NEWS
Legal Insights

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

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. Part of the major measures taken by the Federal Government of Nigeria and the Lagos State …

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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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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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Feb 2020
Legal Insights

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
Legal Insights

Aluko & Oyebode in collaboration with Clifford Chance will host a training on ISDA Master Agreement, Swaps and Derivatives on Thursday, 13th February 2020. This training is themed “The Road Ahead: Fostering Safer and Effective Derivative Market in Africa”. At this training, the facilitators will share their perspectives and experiences on the following topics: Understanding …

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Feb 2020
Legal Insights

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
Legal Insights

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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Dec 2019 PUBLICATIONS

One of the significant developments in arbitration witnessed in Rivers State of Nigeria in 2019 was the enactment of Rivers State Arbitration Law (the Law). The Law applies to arbitration in Rivers State except where the parties expressly agree that another arbitration law will apply. Consistent with the principle of party autonomy in arbitration, parties …

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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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Dec 2019
Legal Insights

Introduction The financial services and products offered in Nigeria have changed significantly in recent years as a result of scientific and technological innovation and ever-evolving consumer behaviour and needs. In turn, this has resulted in a proliferation of new fintech companies. ‘Fintech’ generally refers to the various technologies and innovations used to provide financial services …

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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

In collaboration with the Lagos Chamber of Commerce International Arbitration Centre (LACIAC), Aluko & Oyebode will be sponsoring and hosting the IBA Arb40 – Young ICCA Workshop on “Computation of Damages” on Tuesday, 10 December 2019. This IBA Arb40 – Young ICCA Workshop will feature panel sessions led by legal practitioners and quantum experts, dedicated …

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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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Oct 2019 PUBLICATIONS

Introduction Limitation laws prescribe the period within which an aggrieved party can initiate an action to enforce a legal right. These laws seek to encourage parties to enforce their legal rights timeously and to avoid stale claims. There are several justifications for limitation laws. However, two of such justifications are prominent. The first is that …

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Oct 2019

We are pleased to announce that we have been shortlisted for the 2019 ESQ Nigerian Legal Awards. We are finalists in the following categories: Law Firm of the Year – Large Practice Banking and Finance Capital Market Oil and Gas Dispute Resolution Energy and Power Mergers and Acquisitions Private Equity Real Estate and Construction Telecommunications …

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Oct 2019

We are pleased to announce that Aluko & Oyebode has maintained its ranking as a Top Tier Firm (Tier 1) in seven practice areas in the 2020 IFLR1000 Guide, namely: Banking Capital Markets: Debt Capital Markets: Equity Mergers & Acquisitions Project Development: Infrastructure Project Development: Power Project Finance Nine (9) Aluko & Oyebode partners were …

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Oct 2019

We are pleased to announce that our Partner, Hamid Abdulkareem has been appointed as an officer of the International Bar Association (IBA) Arbitration Committee with effect from 1 January 2020 to 31 December 2021. He will co-chair IBA’s under-40 subcommittee (IBA Abr40) during his tenure, along with Anina Liebkind of Baker McKenzie. “This is an …

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Oct 2019

Introduction                               The Supreme Court of Nigeria recently held in the case of Ibrahim v Obaje that a Power of Attorney can transfer interest in land to a donee and that the consent of the Governor is not needed for transfer of title or alienation of rights between private individuals where there is no overriding public …

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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

We are pleased to announce that our Partner, Babatunde Fagbohunlu, SAN has been nominated for the African Arbitrator of the Year Award. The inaugural African Arbitration Awards is scheduled to hold in Nairobi on Friday, 30th August 2019 and it is hosted by the East Africa International Arbitration Conference (EAIAC). Co-located with EAIAC 2019, the …

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Aug 2019
Legal Insights

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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Aug 2019

The Federal Inland Revenue Service (the “FIRS”) is currently working with the National Assembly to amend the Nigerian tax laws to adequately capture income earned by technology companies from Nigeria and transactions with Nigerian residents. The Chairman of the FIRS, Babatunde Fowler, reiterated at the “FIRS Stakeholders Retreat on the Taxation of the Digital Economy”, …

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Jul 2019
Legal Insights

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
Legal Insights

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
Legal Insights

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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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
Legal Insights

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
Legal Insights

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
Legal Insights

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
Legal Insights

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

The president, on the 6th of February 2019 signed the Federal Competition and Consumer Protection Bill into Law. The 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 citizens to safe products, as well as securing the rights of consumers in Nigeria.

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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

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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Feb 2019 NEWSLETTERS

The National Pension Commission (“PENCOM”) on 28 January 2019 granted its approval for the operation of the Nigerian University Pension Management Company (“NUPEMCO”) as a Pension Fund Administrator (“PFA”) based on an evaluation of NUPEMCO’s compliance with PENCOM’s stipulated requirements. NUPEMCO is the teachers’ union pension company and will now carry on the business of …

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Jan 2019

The Financial Reporting Council (the “FRC”) recently issued the Nigerian Code of Corporate Governance (“the Code”) 2018 to regulate corporate governance best practices. The Code is applicable to both public and private companies. The Code, which was officially launched on 15th January 2019, consists of seven (7) parts and twenty-eight (28) principles which broadly cover …

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Jan 2019 NEWSLETTERS

The Nigeria Information Technology Development Agency (the “NITDA”), on the 25th of January 2019, issued the Nigeria Data Protection Regulation, 2019 (the “Data Protection Regulation”)

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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 NEWSLETTERS

December 2018   Outstanding Trademarks Registration Certificates The current Registrar of the Nigerian Trademarks Registry, Mr. Shafiu Adamu Yauri, continues to champion the clearance of all awaiting registration certificates. There has been continuous publication of awaiting applications in the Trade Mark Journals. Validity of NAFDAC E-Permit In September 2018, National Agency for Food and Drug …

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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
Legal Insights

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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Aug 2018 NEWSLETTERS

The position of the Registrar of Trademarks, Patents and Designs Registry, Nigeria has for many years being occupied by a single Registrar, who doubles as both the Registrar of Trademarks and Patents and Designs registry. 

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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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Jul 2018 PUBLICATIONS

There are two Bills currently pending before the National Assembly proposing amendments to the Personal Income Tax Act (as amended) 2011. 

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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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Jun 2018 PUBLICATIONS

After years spent in recession, Nigeria is now starting to see some upward movement in its GDP numbers. Such positive economic indicators offer good opportunities for investors. It is a nation that is fully focused on growing its economy. 

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Jun 2018 PUBLICATIONS

Companies in the European Union (the “EU”) have been preparing for 25 May 2018, the much anticipated date when the EU’s General Data Protection Regulation (“GDPR”) became effective. 

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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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May 2018 NEWSLETTERS

The Nigerian Trademarks, Patents and Designs registry has published 4 more new Trademarks Journals, dated 24 April, 2018. Three (3) of the published Journals are for online applications, while 1 is for manual applications.

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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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Mar 2018 PUBLICATIONS

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 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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Jan 2018 PUBLICATIONS

The Trademarks, Patents and Designs registry has escalated efforts to ensure that business owners and stakeholders alike have their needs met especially with respect to the publication of trademark application. The registry published Trademark Journals Vol.2 No. 1 on 24th November, 2017, Vol.3 No. 1 on 11th December 2017 and Vol. 4 No. 1 on 15th December 2017. 

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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 NEWSLETTERS

The Presidential Enabling Business Environment Council (PEBEC) is an inter-governmental and inter-ministerial council which is chaired by His Excellency, Vice President Yemi Osinbajo, SAN, and comprises 10 ministers, the Head of Civil Service of the Federation, Governor of the Central Bank of Nigeria, representatives from Lagos & Kano State governments, the National Assembly and the private sector. 

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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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May 2017 PUBLICATIONS

This Banking Regulation guide provides a high level overview of the governance and supervision of banks, including legislation, regulatory bodies and the role of international standards, licensing, the rules on liquidity, foreign investment requirements, liquidation regimes and recent trends in the regulation of banks.

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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 PUBLICATIONS

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. The Africa roundtable committee members were drawn from Nigeria, South Africa and Kenya. The members are Uche Nwokocha (chair), Simon Brown, Afam Nwokedi, Lara Kayode, and John Syekei.

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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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