Overview
Nigeria’s foremost counsel on complex, high-value mergers and acquisitions
Aluko & Oyebode’s Corporate M&A practice is synonymous with Nigeria’s most consequential transactions. For over two decades, we have been the counsel of choice for multinational corporations, pan-African conglomerates, private equity sponsors, and leading Nigerian enterprises executing transformational deals across the country and the continent.
We bring together unrivalled Nigerian market expertise with a truly international perspective. As the preferred Nigerian member of the Africa Legal Network (ALN), we deliver integrated deal execution across 14 African jurisdictions and the UAE, ensuring that cross-border mandates are handled with the precision, speed, and local insight that complex M&A demands.
Our team advises across the full M&A lifecycle: origination and deal structuring, regulatory strategy and antitrust clearance, due diligence, negotiation and documentation, and post-closing integration. We act for buyers, sellers, targets, financial advisers, and board special committees, bringing the same rigour and commercial acuity to every side of a transaction.
What distinguishes our practice is the calibre of the mandates we carry and the relationships we sustain. From landmark divestments by global consumer goods companies, to transformative cross-border financial services consolidations, to high-profile take-privates, we have shaped the deals that have shaped Nigeria’s business landscape.
Tier 1 in M&A (IFLR1000 Sub-Saharan Africa). Band 1 in Corporate/Commercial (Chambers Global) for 20 consecutive years. Shortlisted for Deal of the Year – M&A at the IFLR Africa Awards 2026. When Nigeria’s most complex deals come to negotiation, they come through Aluko & Oyebode.
What We Do
Corporate Restructuring & Divestments
Strategic counsel on group reorganisations, carve-outs, spin-offs, divestments, and corporate separations. We help clients reconfigure their portfolios in a manner that is tax-efficient, commercially optimal, and fully compliant with Nigerian and applicable foreign regulatory requirements.
Cross-Border & Pan-African Deals
We are Nigeria’s gateway for international M&A. Whether advising a global strategic acquirer entering the Nigerian market, or a Nigerian champion expanding across Africa, we structure and execute cross-border transactions that navigate multi-jurisdictional regulatory complexity. Our ALN membership provides seamless deal coverage across 14 African markets.
Joint Ventures & Strategic Alliances
Structuring and negotiating joint ventures, strategic alliances, and consortium arrangements, including governance architecture, profit-sharing mechanics, deadlock provisions, and exit rights. We advise on both incorporated and unincorporated joint ventures across sectors from financial services to energy to technology.
Mergers & Acquisitions
End-to-end advisory on domestic and cross-border M&A transactions. We handle share and asset acquisitions, majority and minority stake transactions, schemes of arrangement, takeover bids, and merger filings under the Federal Competition and Consumer Protection Act. Our team manages comprehensive legal due diligence, transaction documentation, regulatory approvals, and post-closing obligations, for buyers, sellers, targets, and their boards.
Private Equity & Strategic Investments
Advisory to sponsors, portfolio companies, sovereign wealth funds, and institutional investors on private equity acquisitions, venture capital investments, co-investments, and growth equity. We cover deal structuring, subscription and shareholder agreements, governance frameworks, management incentive arrangements, and exit planning, through trade sales, secondary buyouts, or public listings.
Regulatory & Competition Advisory
Expert guidance on merger control filings with the Federal Competition and Consumer Protection Commission (FCCPC) and sector-specific regulators, including the CBN, SEC, NAICOM, and PenCom. We advise on the emerging role of the ECOWAS Regional Competition Authority (ERCA) and its implications for M&A transactions with a West African footprint.
Representative Transactions
Access Holdings / ARM Pension Managers – Acquisition & Merger
Advised Access Holdings Plc on its acquisition of an indirect equity stake in Sigma Pensions Limited and the subsequent merger of Sigma Pensions Limited and First Guarantee Pension Limited, creating Access Pensions Limited. The transaction involved comprehensive due diligence, merger documentation, and securing PenCom regulatory clearances. The Firm also advised Access Golf Nigeria Limited on its later acquisition of ARM Pension Managers (PFA) Limited and the subsequent merger with Access Pensions Limited.
Access Holdings & Coronation Group – Strategic Alliance with Safaricom and M-PESA Africa
Advised Access Holdings Plc and Coronation Group Limited on their collaboration with M-PESA Africa and Safaricom to create a Pan-African strategic alliance focused on financial inclusion and remittance solutions linking East and West Africa. The transaction involved structuring the cross-border alliance framework, aligning regulatory requirements across multiple jurisdictions, and negotiating partnership arrangements among four major institutions.
Africa Capital Alliance – Divestment from Aradel Holdings
Advised on Africa Capital Alliance’s divestment from Aradel Holdings, shortlisted for Deal of the Year – Private Equity at the IFLR Africa Awards 2026. The transaction demonstrated the Firm’s deep expertise in private equity exit structuring within Nigeria’s energy sector.
Arnergy Solar – USD 18 Million Series B Fundraise & Corporate Restructuring
Advised Arnergy Solar Limited on its USD 18 million Series B fundraise and concurrent corporate restructuring. The Firm managed investment structuring, due diligence, shareholder negotiations, SEC filings, and the corporate reorganisation required to support the company’s expansion of off-grid solar energy solutions across Sub-Saharan Africa.
Brookfield-Led Consortium – Take-Private of Network International Holdings Plc (USD 2.9 Billion)
Nigerian counsel to the Brookfield-led consortium in the USD 2.9 billion all-cash acquisition and take-private of Network International Holdings Plc, a leading digital payments company. Working alongside Linklaters, the team advised on Nigerian regulatory compliance, competition aspects, and cross-border coordination. Partners Oludare Senbore and Ajibola Asolo led the transaction team.
Diageo / Guinness Nigeria – Divestment to Tolaram Group
Nigerian counsel to Diageo Plc on the sale of its 58.02% equity stake in Guinness Nigeria Plc, an NGX-listed company, to the Tolaram Group, valued at NGN 81.60 per share, representing a 63% premium over the 30-day volume-weighted average price. The transaction encompassed negotiation of long-term licence and royalty agreements preserving the Guinness brand relationship, SEC regulatory filings, NGX compliance, and all antitrust clearances. Shortlisted for Deal of the Year – M&A at the IFLR Africa Awards 2026. Aluko & Oyebode has been counsel to Diageo for over 25 years.
Moniepoint Inc. – US$110 Million Series C Funding Round
Nigerian counsel to Moniepoint Inc. on its US$110 million Series C funding round, with investors including Development Partners International’s African Development Partners III Fund, Google’s Africa Investment Fund, Verod Capital, and Lightrock. The Firm handled Nigerian law aspects of investment structuring, shareholder negotiations, due diligence coordination, and regulatory filings in support of the fintech unicorn’s continued expansion across Africa.
SanlamAllianz Africa – Landmark Insurance Merger in Nigeria
Advised SanlamAllianz Africa (Pty) Limited on the merger of its Nigerian subsidiaries: Sanlam Life Insurance Nigeria Limited, Sanlam General Insurance Nigeria Limited, and Allianz Nigeria Insurance Limited; resulting in the formation of Sanlam Allianz Life Insurance Nigeria Limited and Sanlam Allianz General Insurance Nigeria Limited. The transaction required approval from the National Insurance Commission and sanction by the Federal High Court of Nigeria. The Firm also previously advised Allianz SE and Sanlam on the establishment of the underlying South African joint venture that combined their pan-African insurance operations.
Client Quotes
“The team at Aluko & Oyebode understands the Nigerian market well. The team is very responsive and well resourced, with well-rounded associates.”
Client Quote
“Aluko & Oyebode is a highly skilled law firm at the forefront of the Nigerian market, which is well known for its involvement in high-value banking transactions, acting on behalf of both domestic and international companies. It is adept at handling a variety of matters including structured trade agreements, foreign exchange contracts and secure lending agreements. The team earns recognition for its exceptional handling of a range of project finance matters, particularly in the oil and gas sector.”
Chambers Global Quote
“A & O reviewed and advised on the transaction with such distinct level of depth and made the bank understand all the options available in the circumstance. Their advice was a guiding light for the bank.”
Client Quote
Key Contacts
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Awards and Accolades
Band 1 in Corporate/Commercial, Nigeria – 20th consecutive year. Client quote: “The partners at the firm have diverse industry experience and typically leverage this experience when providing legal advice to their clients.”
Chambers Global (2025)
Tier 1 in Corporate & Commercial (encompassing M&A). Client quote: “The team is versatile; whether it’s a review of complicated contracts or advisory on an M&A transaction, you can be sure that ALN Nigeria can put you in touch with the right partner very quickly.”
The Legal 500 EMEA (2025)
Tier 1 in Mergers & Acquisitions; additionally Tier 1 in Banking, Capital Markets (Debt & Equity), and Private Equity.
IFLR1000 Sub-Saharan Africa (2025)
Shortlisted for Deal of the Year – M&A (Tolaram Africa / Diageo); Deal of the Year – Private Equity (Africa Capital Alliance / Aradel Holdings); and National Law Firm of the Year – Nigeria. Ajibola Asolo, Kofo Dosekun, and Olubunmi Fayokun individually shortlisted for Lawyer of the Year – Nigeria.
IFLR Africa Awards 2026
<p>Lexology Index Awards (2025</p>
Thought Leadership
