# Aluko & Oyebode > Generated by All in One SEO v5.0.2.1, this is an llms.txt file, used by LLMs to index the site. Nigeria's Largest Full-service Law Firm ## Sitemaps - [XML Sitemap](https://aluko-oyebode.com/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [Nigerian Insurance Industry Reform Act 2025: Implications for the Nigerian Insurance Sector](https://aluko-oyebode.com/nigerian-insurance-industry-reform-act-2025-implications-for-the-nigerian-insurance-sector/): Nigeria’s insurance sector has been considered underdeveloped relative to the size of the economy. Persistent issues such as low penetration, weak public confidence and under capitalisation have hindered its ability to deliver effective financial intermediation and risk protection. Previous reform attempts, ranging from revised capital thresholds to piecemeal legislative updates, sought to address these challenges - [Tax Compliance Essentials for Fintech Startups | AO Insider Series (Ep. 15)](https://aluko-oyebode.com/tax-compliance-essentials-for-fintech-startups-ao-insider-series-ep-15/): https://youtu.be/LS2mEUAgP0M In this edition of the AO Insider Series, experts unpack one of the most pressing issues shaping Nigeria’s fintech sector — tax compliance and evolving regulatory obligations. As Nigeria’s fintech ecosystem continues to expand, startups face growing demands for transparency, compliance, and sustainable governance. This insightful session — “Tax Compliance Essentials: Navigating New Obligations - [Maritime Law | A Review of Rule 14 of COLREGs: The Head-on Situation – Lessons from the KIVELI and AFINA I collision case](https://aluko-oyebode.com/maritime-law-a-review-of-rule-14-of-colregs-the-head-on-situation-lessons-from-the-kiveli-and-afina-i-collision-case/): Nigeria’s insurance sector has been considered underdeveloped relative to the size of the economy. Persistent issues such as low penetration, weak public confidence and under capitalisation have hindered its ability to deliver effective financial intermediation and risk protection. Previous reform attempts, ranging from revised capital thresholds to piecemeal legislative updates, sought to address these challenges - [Nigerian Insurance Industry Reform Act 2025: Implications for the Nigerian Insurance Sector](https://aluko-oyebode.com/clone-nigerian-insurance-industry-reform-act-2025-implications-for-the-nigerian-insurance-sector/): https://youtu.be/LS2mEUAgP0M In this edition of the AO Insider Series, experts unpack one of the most pressing issues shaping Nigeria’s fintech sector — tax compliance and evolving regulatory obligations. As Nigeria’s fintech ecosystem continues to expand, startups face growing demands for transparency, compliance, and sustainable governance. This insightful session — “Tax Compliance Essentials: Navigating New Obligations - [Aluko & Oyebode advises SanlamAllianz Africa (Pty) Limited on landmark insurance merger in Nigeria](https://aluko-oyebode.com/aluko-oyebode-advises-sanlamallianz-africa-pty-limited-on-landmark-insurance-merger-in-nigeria/): Nigeria’s insurance sector has been considered underdeveloped relative to the size of the economy. Persistent issues such as low penetration, weak public confidence and under capitalisation have hindered its ability to deliver effective financial intermediation and risk protection. Previous reform attempts, ranging from revised capital thresholds to piecemeal legislative updates, sought to address these challenges ## Pages - [Home](https://aluko-oyebode.com/): Aluko & Oyebode delivers expert legal services across corporate, commercial, finance, tax, disputes, regulatory matters, and emerging sectors. 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As a whistleblower, your reports via any of the channels are kept confidential and the anonymity preserved (except - [Careers](https://aluko-oyebode.com/careers/): Explore career opportunities at Aluko & Oyebode and join a leading Nigerian law firm built on excellence, collaboration, and professional growth. - [Corporate Social Responsibility](https://aluko-oyebode.com/responsible-business/corporate-social-responsibility/): Discover Aluko & Oyebode’s corporate social responsibility initiatives focused on community impact, sustainable development, and positive social change. - [Environmental, Social & Corporate Governance](https://aluko-oyebode.com/responsible-business/environmental-social-corporate-governance/): Explore Aluko & Oyebode's ESG legal services, including ESG assessment, due diligence, programme design, execution, and sustainable business advisory. - [BOA Lawyers League](https://aluko-oyebode.com/boa-lawyers-league/): Discover the BOA Lawyers’ League, an annual football tournament honouring Bankole Olumide Aluko, SAN, and bringing Nigeria’s legal community together. - [BOA Memorial](https://aluko-oyebode.com/boa-memorial/): Discover the life, legal career, achievements and enduring legacy of Bankole Olumide Aluko, SAN, co-founder of Aluko & Oyebode. - [Responsible Business](https://aluko-oyebode.com/responsible-business/): Aluko & Oyebode integrates responsible business practices, ESG principles, CSR, and pro bono initiatives to create lasting value for clients and communities. - [Private Wealth](https://aluko-oyebode.com/private-wealth/): Private Wealth Overview Private Wealth and Family Office Service Discreet, Sophisticated Counsel for Generational WealthAluko & Oyebode’s Private Wealth and Family Office practice advises Nigeria’s most prominent families, founders, senior executives, and international clients with Nigerian assets. We provide bespoke, end-to-end counsel on wealth structuring, succession planning, estate administration, family governance, and the ongoing operation - [Pro Bono](https://aluko-oyebode.com/responsible-business/pro-bono/): Aluko & Oyebode provides pro bono legal support to advance access to justice, strengthen communities, and support meaningful social impact. - [Contact Us](https://aluko-oyebode.com/contact-us/): Contact Aluko & Oyebode for expert legal advice and strategic solutions. Connect with our teams in Lagos, Abuja, and Port Harcourt. Speak to Our Team. - [Attorneys](https://aluko-oyebode.com/our-attorneys/): Meet Aluko & Oyebode's lawyers delivering strategic legal solutions across corporate, commercial, regulatory, and dispute matters. Speak to our team. - [About](https://aluko-oyebode.com/about/): Founded in 1993, Aluko & Oyebode is a leading Nigerian law firm with 160+ lawyers delivering innovative legal solutions across industries. - [Terms of Use](https://aluko-oyebode.com/terms-of-use/): Read Aluko & Oyebode's Terms of Use covering website access, permitted use, copyright, intellectual property, legal information, and electronic links. - [Search](https://aluko-oyebode.com/search/): Your search for "" returned 1099 results All Practices Antitrust & Competition Banking & Finance Capital Markets Corporate Commercial Corporate M&A Data Privacy, Data Protection & Cyber Security Dispute Resolution Dispute Resolution and Tax Energy, Natural Resources & Infrastructure Governance, Risk & Compliance (GRC) Intellectual Property Investigations & White-Collar Crime Litigation Private Wealth Public Policy - [Work Highlights](https://aluko-oyebode.com/work-highlights/): Work Highlights Filter by Work Highlights Aviation Banking and Finance Capital Markets Fintech Maritime Private Wealth Remove filters Maritime September 24, 2026 Nigeria – Shipping Laws and Regulations 2026 September 24, 2026 Nigeria – Shipping Laws and Regulations 2026 Maritime Fintech September 22, 2026 Nigeria’s New Virtual Asset Tax Guidelines: What Market Participants Need to - [Privacy Policy](https://aluko-oyebode.com/privacy-policy/): Learn how Aluko & Oyebode collects, uses, protects, retains and processes personal data in accordance with Nigerian data protection laws. - [Gallery](https://aluko-oyebode.com/gallery/): Explore Aluko & Oyebode's African art gallery, showcasing works by local artists celebrating the beauty, heritage, and complexity of African culture. - [News](https://aluko-oyebode.com/news/): News Filter by Insight Categories ALN Alerts Banking & Finance Regulatory Update Capital Market Regulatory Update Intellectual Property Media and Technology News Newsletters Publications Telecommunications Work Highlights All Categories Banking and Corporate Finance Capital Markets Corporate and Commercial Data Protection Employment and Labour Law Energy and Natural Resources Environmental Law Fintech Governance Intellectual Property Litigation, - [Press/Media Enquiries](https://aluko-oyebode.com/press-media-enquiries/): Contact Aluko & Oyebode for press and media enquiries, interviews, legal commentary, firm news, and information about our legal professionals. - [Our Locations](https://aluko-oyebode.com/our-locations/): Our Locations Our Offices Lagos 1, Murtala Muhammed Drive (formerly Bank Road) Ikoyi, Lagos, Nigeria Port Harcourt 3rd Floor, Plot 173, Sani Abacha Road GRA Phase III, Port Harcourt Rivers State, Nigeria Abuja Plot 1384A, Agulu Lake Street, Maitama, Abuja, Nigeria ALN Alliance Firms Ghana 3rd Floor, PloSolis House GL-056-7567 Adembra Road East Cantonments, Accra, Ghana - [Insights](https://aluko-oyebode.com/legal-insights/): Explore Aluko & Oyebode's latest legal insights, alerts, publications, newsletters, and regulatory updates covering key Nigerian legal and business developments. - [Disclaimer](https://aluko-oyebode.com/disclaimer/): Read Aluko & Oyebode's legal disclaimer regarding website content, legal advice, external links, and the use of information published on our website. - [Events](https://aluko-oyebode.com/our-events/): Explore upcoming and past events hosted, sponsored, or attended by Aluko & Oyebode, including legal conferences, industry events, and professional gatherings. - [BOA Scholarship](https://aluko-oyebode.com/boa-scholarship/): Learn about the BOA Scholarship by Aluko & Oyebode, supporting outstanding Nigerian law graduates with tuition at the Nigerian Law School. - [Cookie Policy](https://aluko-oyebode.com/cookie-policy/): Learn how Aluko & Oyebode uses cookies on its website, including analytics cookies, and how you can manage, disable, or withdraw your cookie preferences. - [All Practices](https://aluko-oyebode.com/all-practices/): Explore Aluko & Oyebode's legal services across corporate, finance, disputes, energy, technology, tax, regulatory, and other key practice areas and sectors. - [All Sectors](https://aluko-oyebode.com/all-sectors/): Aluko & Oyebode provides strategic legal solutions across key sectors including energy, finance, technology, infrastructure, healthcare, and more. Talk to us. ## JetPopup - [IP Interactions Webinar - Second Edition](https://aluko-oyebode.com/jet-popup/ip-interactions-webinar-second-edition/) - [Awards Popup](https://aluko-oyebode.com/jet-popup/awards-popup/) - [Events Popup](https://aluko-oyebode.com/jet-popup/events-popup/): Share Event Expand Nigerian Insurance Industry Reform Act 2025: Implications for the Nigerian Insurance Sector By ABOUT EVENT Nigeria’s insurance sector has been considered underdeveloped relative to the size of the economy. Persistent issues such as low penetration, weak public confidence and under capitalisation have hindered its ability to deliver effective financial intermediation and risk - [Gallery Popup](https://aluko-oyebode.com/jet-popup/gallery-popup/): Nigerian Insurance Industry Reform Act 2025: Implications for the Nigerian Insurance Sector Artist: Year: - [See More Popup](https://aluko-oyebode.com/jet-popup/see-more-popup/) ## Elementor Header & Footer Builder - [Main Header - Light](https://aluko-oyebode.com/elementor-hf/main-header-light/): OUR SERVICES Our Attorneys Firm Search by keywords All Lawyers Practices Sectors Insights ## Custom Snippets - [Safari Fix for Award Carousel](https://aluko-oyebode.com/jupiterx-codes/safari-fix-for-award-carousel/) ## Custom Forms - [First Bank Staff Meeting](https://aluko-oyebode.com/custom-forms/first-bank-staff-meeting/) - [Understanding Islamic Finance and Sukuk Structures](https://aluko-oyebode.com/custom-forms/understanding-islamic-finance-and-sukuk-structures/) - [Navigating the Future of Intra-African Trade: Insights and Opportunities](https://aluko-oyebode.com/custom-forms/navigating-the-future-of-intra-african-trade-insights-and-opportunities/) - [Business Roadshow: Nigeria Edition - December 2025](https://aluko-oyebode.com/custom-forms/business-roadshow-nigeria-edition-december-2025/) - [The New Nigerian Tax Regime: What Non-Residents Need to Know](https://aluko-oyebode.com/custom-forms/the-new-nigerian-tax-regime-what-non-residents-need-to-know/) - [Navigating Business Law in the Age of Intelligence](https://aluko-oyebode.com/custom-forms/navigating-business-law-in-the-age-of-intelligence/) - [NBA 66th Annual General Conference — "Beyond Limits"](https://aluko-oyebode.com/custom-forms/nba-66th-annual-general-conference-beyond-limits/) - [Founder Wealth in Focus – A UK-Nigerian Perspective](https://aluko-oyebode.com/custom-forms/founder-wealth-in-focus-a-uk-nigerian-perspective/) - [Peace, prosperity and the future of international law](https://aluko-oyebode.com/custom-forms/peace-prosperity-and-the-future-of-international-law/) ## Alumni Gallery - [2014 Aluko & Oyebode Alumni Annual Networking Event in Lagos](https://aluko-oyebode.com/alumni-gallery/2014-aluko-oyebode-alumni-annual-networking-event-in-lagos/) - [2019 Aluko & Oyebode Alumni Thought Leadership Series in Lagos](https://aluko-oyebode.com/alumni-gallery/2019-aluko-oyebode-alumni-thought-leadership-series-in-lagos/) - [2016 Aluko & Oyebode Alumni Social Evening in Ikoyi](https://aluko-oyebode.com/alumni-gallery/2016-aluko-oyebode-alumni-social-evening-in-ikoyi/) - [2018 Aluko & Oyebode Alumni Breakfast Meeting at Wheatbaker Hotel](https://aluko-oyebode.com/alumni-gallery/2018-aluko-oyebode-alumni-breakfast-meeting-at-wheatbaker-hotel/) - [2017 Aluko & Oyebode Alumni Professional Development Forum in Lagos](https://aluko-oyebode.com/alumni-gallery/2017-aluko-oyebode-alumni-professional-development-forum-in-lagos/) - [2015 Aluko & Oyebode Alumni End-of-Year Gathering at The Civic Centre](https://aluko-oyebode.com/alumni-gallery/2015-aluko-oyebode-alumni-end-of-year-gathering-at-the-civic-centre/) - [2018 Aluko & Oyebode Alumni Knowledge & Insights Session at the A&O Lagos Office](https://aluko-oyebode.com/alumni-gallery/2018-aluko-oyebode-alumni-knowledge-insights-session-at-the-ao-lagos-office/) - [2017 Aluko & Oyebode Alumni Dinner & Networking Event, Lagos](https://aluko-oyebode.com/alumni-gallery/2017-aluko-oyebode-alumni-dinner-networking-event-lagos/) - [2016 Aluko & Oyebode Alumni Networking Evening at Eko Hotels & Suites](https://aluko-oyebode.com/alumni-gallery/2016-aluko-oyebode-alumni-networking-evening-at-eko-hotels-suites/) ## Events - [Peace, Prosperity and the Future of International law](https://aluko-oyebode.com/events/peace-prosperity-and-the-future-of-international-law/): Dialogue to explore the future of international law amid shifting geopolitical and geoeconomic realities and Africa’s strategic priorities. LAGOS, NIGERIA | August 5, 2026 – Aluko & Oyebode, a top-tier full-service law firm in Nigeria, is set to co-host the International Law Association (Nigeria Branch) Africa Policy Dialogue alongside the International Law Association (Nigeria Branch), - [NBA 66th Annual General Conference — "Beyond Limits"](https://aluko-oyebode.com/events/nba-66th-annual-general-conference-beyond-limits/): The Nigerian Bar Association's flagship annual gathering brings together thousands of legal practitioners, policymakers, and members of the judiciary for a week of dialogue, learning, and networking under the theme "Beyond Limits." - [Founder Wealth in Focus – A UK-Nigerian Perspective](https://aluko-oyebode.com/events/founder-wealth-in-focus-a-uk-nigerian-perspective/): A collaborative event hosted by Aluko & Oyebode and Fladgate, bringing together founders, entrepreneurs, investors, and advisers to discuss wealth creation, preservation, and succession from both UK and Nigerian perspectives. The programme will feature a fireside chat, expert panel discussions, and a networking reception. - [Navigating the Future of Intra-African Trade: Insights and Opportunities](https://aluko-oyebode.com/events/navigating-the-future-of-intra-african-trade-insights-and-opportunities/): ALN Nigeria | Aluko & Oyebode’s International Trade Practice Group is pleased to announce a one-day discourse titled “Navigating the Future of Intra-African Trade: Insights and Opportunities with the Guided Trade Initiative,” scheduled for Tuesday, 19 November 2024. This event will explore key elements of the African Continental Free Trade Area Agreement (AfCFTA), with discussions - [The New Nigerian Tax Regime: What Non-Residents Need to Know](https://aluko-oyebode.com/events/the-new-nigerian-tax-regime-what-non-residents-need-to-know/): Nigeria’s 2025 Tax laws have introduced major reforms affecting non-residents, including new rules on permanent establishments, taxation of indirect transfers, and additional compliance obligations. In this webinar, attorneys from Aluko & Oyebode’s Tax Practice, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele and senior officials from the Federal Inland Revenue - [Understanding Islamic Finance and Sukuk Structures](https://aluko-oyebode.com/events/understanding-islamic-finance-and-sukuk-structures/): We are pleased to invite you to a virtual training session titled “Understanding Islamic Finance and Sukuk Structures”, which will be held on Thursday, 7 November 2024. This session will provide a comprehensive exploration of Islamic finance in Nigeria, with a focus on Sukuk instruments. As this sector continues to grow, understanding the principles and structures of Islamic finance - [Navigating Business Law in the Age of Intelligence](https://aluko-oyebode.com/events/navigating-business-law-in-the-age-of-intelligence/): Discover the future of commerce, regulation, and technology across Africa at our premier platform for legal and business professionals. - [Business Roadshow: Nigeria Edition - December 2025](https://aluko-oyebode.com/events/business-roadshow-nigeria-edition-december-2025/): Engage in a business dialogue that showcases investment opportunities, regulatory updates, and partnership pathways in Nigeria. - [Understanding Investment Promotion, Facilitation and Incentives in Nigeria](https://aluko-oyebode.com/events/understanding-investment-promotion-facilitation-and-incentives-in-nigeria/): The ALN Ready Business Roadshow – Nigeria Edition was a dynamic event that showcased the wealth of investment and business opportunities in Nigeria. It brought together investors, advisors, and diplomatic missions from around the globe, allowing them to connect with local business leaders and decision-makers. Attendees gained valuable insights into the opportunities and challenges present - [World IP Day Virtual Roundtable | April 25, 2024 | “Driving Innovation for SDGs”](https://aluko-oyebode.com/events/world-ip-day-virtual-roundtable-april-25-2024-driving-innovation-for-sdgs/): We are pleased to invite you to our virtual roundtable (webinar) in celebration of the 2024 World Intellectual Property (IP) Day. This interactive session will explore the crucial role of IP in fostering innovation and creativity for the Sustainable Development Goals (SDGs). The panel of speakers for this virtual event include: – Banke kuku – Founder, Banke - [Leveraging Digital Innovation to Drive Growth for Small Businesses](https://aluko-oyebode.com/events/leveraging-digital-innovation-to-drive-growth-for-small-businesses/): Nigeria’s 2025 Tax laws have introduced major reforms affecting non-residents, including new rules on permanent establishments, taxation of indirect transfers, and additional compliance obligations. In this webinar, attorneys from Aluko & Oyebode’s Tax Practice, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele and senior officials from the Federal Inland Revenue - [Energy & Infrastructure Construction Law Roundtable in Lagos, Nigeria](https://aluko-oyebode.com/events/energy-infrastructure-construction-law-roundtable-in-lagos-nigeria/): An expert forum bringing together industry leaders to discuss emerging trends and challenges in Nigeria’s energy and infrastructure sectors. - [The Future of Business Law in an Intelligence Age](https://aluko-oyebode.com/events/the-future-of-business-law-in-an-intelligence-age/): A premier platform for legal and business professionals to explore the future of commerce, regulation, and technology across Africa. - [Ready Business Roadshow: Dec 2025 Nigeria Edition](https://aluko-oyebode.com/events/ready-business-roadshow-dec-2025-nigeria-edition/): A business dialogue highlighting investment opportunities, regulatory developments, and partnership pathways in Nigeria. - [Energy and Infrastructure Legal Forum in Lagos and Abuja](https://aluko-oyebode.com/events/energy-and-infrastructure-legal-forum-in-lagos-and-abuja/): Join industry leaders at our expert forum to delve into the latest trends and challenges shaping Nigeria’s energy and infrastructure sectors. - [IP and Sports: Ready, Set, Innovate — World IP Day Panel](https://aluko-oyebode.com/events/ip-and-sports-ready-set-innovate-world-ip-day-panel/): A virtual panel exploring how intellectual property sits at the centre of the sports industry — from media rights and sponsorships to athlete image rights and digital content — and what this means for stakeholders in the Nigerian market. - [AVCA Conference & VC Summit 2026 — "Scaling Real Estate in Africa"](https://aluko-oyebode.com/events/avca-conference-vc-summit-2026-scaling-real-estate-in-africa/): Partner Ajibola Asolo moderated a session under Stream 1a: Scaling Real Estate in Africa, examining capital deployment across the real estate value chain, asset classes delivering risk-adjusted returns, and structuring approaches for navigating development risk and exit challenges. - [NBA-YLF Lagos Branch Summit 2026 — "Pioneering Paths, Powering Legacy"](https://aluko-oyebode.com/events/nba-ylf-lagos-branch-summit-2026-pioneering-paths-powering-legacy/): The Firm supported the 2026 Summit of the Nigerian Bar Association Young Lawyers Forum (NBA-YLF), Lagos Branch, as a Gold Sponsor. The Chairman of the Firm's Management Board, Olubunmi Fayokun, joined the panel "The Legacy Blueprint: Building Firms, Shaping Institutions, Leaving Lasting Impact," moderated by Partner Reginald Udom, alongside Gbolahan Elias SAN, Dele Belgore, Konyin - [Lagos Private Wealth Conference 2026](https://aluko-oyebode.com/events/lagos-private-wealth-conference-2026/): As Gold Sponsors, the Firm featured prominently across the conference agenda: Day 1 (3 June): Tax Residency & the Globally Mobile African Family — Agbada S. Agbada; Family Councils & Next-Generation Leadership — Adeolu Idowu Day 2 (4 June): Legal Structures Essential for Global Wealth Transfer — Adeolu Idowu; Africa's Creative Economy: Building and Protecting - [Investment Protection Seminar — International Investment Treaties, the NIPC Act & Investment Agreements](https://aluko-oyebode.com/events/investment-protection-seminar-international-investment-treaties-the-nipc-act-investment-agreements/): Co-hosted with Linklaters, this seminar brought together investors, diplomatic legal advisers, and senior government officials to examine how Investor-State Dispute Settlement (ISDS) mechanisms protect investments in Nigeria and across Africa. Speakers included Olujoke Aliu (Managing Partner), Tunde Fagbohunlu SAN (Senior Partner, Head of Disputes), and Tochukwu J. Anaenugwu (Managing Associate), moderated by Ife Omotola. - [Africa Energy Forum (AEF) 2026 — "Building Africa's Industrialised Future"](https://aluko-oyebode.com/events/africa-energy-forum-aef-2026-building-africas-industrialised-future/): Partner Oludare Senbore joined an ALN delegation spanning five African countries at AEF 2026, the continent's premier energy and infrastructure investment gathering, at the ALN stand (No. A62). - [ECTA 44th Annual Conference — "Green Light for Growth"](https://aluko-oyebode.com/events/ecta-44th-annual-conference-green-light-for-growth/): Partner Toju Dottie represented the Firm at ECTA's Annual Conference, a leading European gathering for intellectual property professionals discussing emerging trends in trademarks, designs, and the wider IP community. - [SIPAC Infrastructure, Energy & Mining Webinar — Mining Investment in Nigeria](https://aluko-oyebode.com/events/sipac-infrastructure-energy-mining-webinar-mining-investment-in-nigeria/): Partner Tonye Krukrubo, SAN, spoke on mining investment in Nigeria — covering the regulatory landscape, project risks, and practical entry considerations — as part of a wider SIPAC discussion spotlighting mining opportunities across Nigeria, Zambia, Poland, and the Philippines. - [IP Interactions Webinar Series — "Beyond the Big Screen: IP, Distribution, and Revenue in the Modern Film Industry"](https://aluko-oyebode.com/events/ip-interactions-webinar-series-beyond-the-big-screen-ip-distribution-and-revenue-in-the-modern-film-industry/): The maiden edition of the Firm's IP Interactions webinar series featured a fireside chat with Nowekere Segun-Ojo, General Manager at Nile Entertainment, on how intellectual property rights shape film creation, distribution, protection, and commercialisation — moderated by Toju Dottie. - [SIPAC Webinar on Energy and Power Generation — Legal and Practical Insights for Chinese Investors](https://aluko-oyebode.com/events/sipac-webinar-on-energy-and-power-generation-legal-and-practical-insights-for-chinese-investors/): Firm representatives joined speakers from across the ALN network — Serge Nawej (ALN ADNA), Ian Gaitta (Anjarwalla & Khanna | ALN Kenya), and Cephas Caleb (Aluko & Oyebode | ALN Nigeria) — to discuss legal and practical considerations for Chinese investors in Africa's energy and power generation sector. - [#AOInsiderSeries | 17th Edition — "The Architecture of Scale: Managing Risk and Speed in High-Growth Startups"](https://aluko-oyebode.com/events/aoinsiderseries-17th-edition-the-architecture-of-scale-managing-risk-and-speed-in-high-growth-startups/): The 17th edition of the AO Insider Series featured a conversation on building sustainable businesses in today's dynamic innovation ecosystem, hosted with Razaq Ahmed, CFA, Co-Founder & CEO of Cowrywise and President of CFA Society Nigeria, and moderated by Senior Associate Aaron Alasa. The session covered building governance frameworks that support rapid growth, managing legal ## Locations - [Port Harcourt](https://aluko-oyebode.com/locations/port-harcourt/): Our Port Harcourt office provides legal support across energy, infrastructure, corporate, commercial, and regional business matters. - [Abuja](https://aluko-oyebode.com/locations/abuja/): Aluko & Oyebode’s Abuja team advises clients on regulatory, government, commercial, transactional, and public sector legal matters. Speak to us. - [Lagos](https://aluko-oyebode.com/locations/lagos/): Our Lagos office delivers expert advice across corporate, finance, commercial disputes, and regulatory matters. Get in touch today. - [Ethiopia](https://aluko-oyebode.com/locations/ethiopia/) - [Ghana](https://aluko-oyebode.com/locations/ghana/) - [UAE](https://aluko-oyebode.com/locations/uae/) - [Zambia](https://aluko-oyebode.com/locations/zambia/) - [Uganda](https://aluko-oyebode.com/locations/uganda/) - [Sudan](https://aluko-oyebode.com/locations/sudan/) - [Tanzania](https://aluko-oyebode.com/locations/tanzania/) - [Mauritius](https://aluko-oyebode.com/locations/mauritius/) - [Rwanda](https://aluko-oyebode.com/locations/rwanda/) - [Kenya](https://aluko-oyebode.com/locations/kenya/) - [Algeria Côte d'Ivoire Guinea Morocco](https://aluko-oyebode.com/locations/algeria-cote-divoire-guinea-morocco/) ## Sectors - [Aviation](https://aluko-oyebode.com/sectors/aviation/): Aviation Overview Nigeria’s most recognised Aviation Law Practice. Aluko & Oyebode is Nigeria’s foremost aviation law practice, the first call for airlines, lessors, lenders, MROs, OEMs, airports, handlers, investors and government across every dimension of the Nigerian and international aviation markets. Our award-winning team combines unrivalled finance, regulatory and disputes capability with deep specialist insight - [Construction](https://aluko-oyebode.com/sectors/construction/): Aluko & Oyebode provides legal support for construction projects, contracts, disputes, regulatory compliance, and infrastructure development. Speak to us. - [Energy & Utilities](https://aluko-oyebode.com/sectors/energy-utilities/): We advise energy and utility businesses on regulation, transactions, projects, compliance, and investments shaping the future of energy. Contact us. - [Mining & Minerals](https://aluko-oyebode.com/sectors/mining-minerals/): We provide legal guidance for mining and minerals businesses on licensing, regulation, investment, projects, and commercial matters. Contact us. - [Oil & Gas](https://aluko-oyebode.com/sectors/oil-gas/): Our oil and gas lawyers advise on transactions, regulatory issues, projects, investments, and commercial matters across the sector. Talk to our team. - [Private Client & Family Office](https://aluko-oyebode.com/sectors/private-client-family-office/): We advise private clients and family offices on wealth planning, succession, asset protection, governance, and investment structures. Speak to us. - [Renewable Energy](https://aluko-oyebode.com/sectors/renewable-energy/): Aluko & Oyebode provides legal advice on renewable energy projects, investments, regulation, development, and sustainability initiatives. Contact us. - [Shipping & Maritime](https://aluko-oyebode.com/sectors/shipping-maritime/): Our maritime lawyers advise on shipping transactions, regulation, disputes, logistics, and commercial matters within the maritime sector. Speak to us. - [Technology, AI & Digital Assets](https://aluko-oyebode.com/sectors/technology-ai-digital-assets/): We advise technology companies on AI, digital assets, data, innovation, regulation, and emerging technology opportunities. Speak to our team. - [Telecommunications](https://aluko-oyebode.com/sectors/telecommunications/): Our telecom lawyers provide strategic advice on regulation, licensing, infrastructure, transactions, and digital communications.Talk to our team. - [Transport & Logistics](https://aluko-oyebode.com/sectors/transport-logistics/): We advise transport and logistics businesses on regulation, contracts, infrastructure, disputes, and commercial operations. Speak to our team. - [Environmental, Social & Governance](https://aluko-oyebode.com/sectors/environmental-social-governance/): Our ESG lawyers help businesses navigate sustainability, governance, environmental obligations, and responsible investment requirements. Speak to us. - [Financial Services & Fintech](https://aluko-oyebode.com/sectors/financial-services-fintech/): We advise banks, fintech companies, and financial institutions on regulation, innovation, transactions, and digital finance solutions. Contact us. - [Infrastructure & Projects](https://aluko-oyebode.com/sectors/infrastructure-projects/): Our infrastructure lawyers support major projects with expertise in development, financing, contracts, regulation, and project delivery. Speak to us. - [Manufacturing & Industrials](https://aluko-oyebode.com/sectors/manufacturing-industrials/): Aluko & Oyebode supports manufacturing businesses with legal solutions covering operations, contracts, regulation, and investments. Speak to our team. - [Life Sciences & Healthcare](https://aluko-oyebode.com/sectors/life-sciences-healthcare/): We provide legal advice to healthcare and life sciences organisations on regulation, compliance, transactions, and industry challenges. Talk to us. - [Media, Sports & Entertainment](https://aluko-oyebode.com/sectors/media-sports-entertainment/): Our team advises clients in media, sports, and entertainment on commercial agreements, intellectual property, regulation, and transactions. Speak to us. - [Private Equity & Venture Capital](https://aluko-oyebode.com/sectors/private-equity-venture-capital/): Our lawyers advise investors and businesses on private equity, venture capital transactions, investments, fundraising, and growth strategies. Contact us. - [Retail, eCommerce & Consumer Goods](https://aluko-oyebode.com/sectors/retail-ecommerce-consumer-goods/): We support retail, eCommerce, and consumer brands with legal advice on transactions, compliance, contracts, and market expansion. Talk to our team. - [Real Estate & Data Centres](https://aluko-oyebode.com/sectors/real-estate-data-centres/): We advise clients on real estate transactions, developments, data centre projects, infrastructure, and regulatory considerations. Speak to our team. ## Practices - [Restructuring & Insolvency](https://aluko-oyebode.com/practices/restructuring-insolvency/): We advise companies, lenders, and stakeholders on restructuring, insolvency proceedings, debt solutions, and business recovery strategies. - [Investigations & White-Collar Crime](https://aluko-oyebode.com/practices/investigations-white-collar-crime/): Our lawyers advise clients on investigations, regulatory enforcement, fraud matters, and white-collar crime defence strategies. Speak to our team. - [Energy, Natural Resources & Infrastructure](https://aluko-oyebode.com/practices/energy-natural-resources-infrastructure/): We provide legal solutions for energy, natural resources, and infrastructure projects, supporting investment, development, and regulatory compliance. - [Governance, Risk & Compliance (GRC)](https://aluko-oyebode.com/practices/governance-risk-compliance-grc/): Our GRC team helps organisations manage regulatory obligations, governance frameworks, risk management, and compliance requirements. - [Data Privacy, Data Protection & Cyber Security](https://aluko-oyebode.com/practices/data-privacy-data-protection-cyber-security/): We advise businesses on data protection compliance, privacy regulations, cybersecurity risks, and digital transformation challenges.Speak to us today. - [Private Wealth](https://aluko-oyebode.com/practices/private-wealth-practice/): We provide private wealth advice covering succession planning, asset protection, family wealth structures, and estate matters. Contact our team today. - [Banking & Finance](https://aluko-oyebode.com/practices/banking-finance/): We advise issuers, investors, and financial institutions on capital markets transactions, securities regulation, listings, and market compliance. Speak to our team - [Dispute Resolution](https://aluko-oyebode.com/practices/dispute-resolution/): Our dispute resolution team provides strategic representation in litigation, arbitration, negotiations, and complex commercial disputes.Talk to us. - [Antitrust & Competition](https://aluko-oyebode.com/practices/antitrust-competition/): Our antitrust and competition team advises businesses on regulations, investigations, mergers, market conduct, and compliance with competition law. Speak to our team - [Public Policy](https://aluko-oyebode.com/practices/public-policy/): Our public policy practice helps clients navigate government relations, regulatory developments, policy issues, and strategic decision-making. - [Regulatory](https://aluko-oyebode.com/practices/regulatory/): Aluko & Oyebode advises businesses on regulatory compliance, government requirements, licensing, and complex industry regulations. - [Tax](https://aluko-oyebode.com/practices/tax/): Our tax team provides strategic advice on transactions, compliance, restructuring, disputes, and complex corporate tax matters. Speak to our team. - [Capital Markets](https://aluko-oyebode.com/practices/capital-markets/): We advise issuers, investors, and financial institutions on capital markets transactions, securities regulation, listings, and market compliance. Speak to our team. - [Intellectual Property](https://aluko-oyebode.com/practices/intellectual-property/): Aluko & Oyebode protects and manages IP assets through strategic advice on trademarks, innovation, and technology. Speak to our team. - [Corporate M&A](https://aluko-oyebode.com/practices/corporate-ma/): Aluko & Oyebode advises clients on complex M&A transactions, acquisitions, disposals, restructuring, and strategic investments across industries.Talk to us. - [Corporate & Commercial](https://aluko-oyebode.com/practices/corporate-commercial/): Our corporate and commercial lawyers deliver strategic advice on business operations, contracts, transactions, governance, and commercial growth.Speak with us. ## Insights - [Aluko & Oyebode Recognised Among Africa’s Top 30 Law Firms](https://aluko-oyebode.com/insights/aluko-oyebode-recognised-among-africas-top-30-law-firms/): Aluko & Oyebode ranks 8th in Law.com International’s 2026 Africa Top 30 Law Firms, achieving the highest position among Nigerian firms in the listing. - [Administration under CAMA 2020: Emerging Procedural Issues in Nigerian Insolvency Practice, Part III](https://aluko-oyebode.com/insights/administration-under-cama-2020-emerging-procedural-issues-in-nigerian-insolvency-practice-part-iii/): Examine common procedural issues in Nigerian insolvency practice under CAMA 2020, including defective administration applications, improper interim orders, service requirements and statutory conditions for administration. - [Administration Under CAMA 2020: Emerging Procedural Issues in Nigerian Insolvency Practice, Part II](https://aluko-oyebode.com/insights/administration-under-cama-2020-emerging-procedural-issues-in-nigerian-insolvency-practice-part-ii/): Explore the objectives of administration under CAMA 2020, the statutory moratorium on creditor enforcement, and the cessation and termination of administration in Nigeria. - [Administration Under CAMA 2020: Emerging Procedural Issues in Nigerian Insolvency Practice, Part I](https://aluko-oyebode.com/insights/administration-under-cama-2020-emerging-procedural-issues-in-nigerian-insolvency-practice-part-i/): Explore Nigeria’s corporate administration procedure under CAMA 2020, including administrator appointments, insolvency tests, application requirements and emerging procedural issues. - [Aluko & Oyebode Co-Managing Partner Olujoke Aliu Conferred with Rank of Senior Advocate of Nigeria](https://aluko-oyebode.com/insights/aluko-oyebode-co-managing-partner-olujoke-aliu-conferred-with-rank-of-senior-advocate-of-nigeria/): Aluko & Oyebode Co-Managing Partner Olujoke Aliu has been elevated to the rank of Senior Advocate of Nigeria (SAN). - [Aluko & Oyebode Advises TotalEnergies EP Nigeria Limited on Landmark Ima Gas Field Development](https://aluko-oyebode.com/insights/aluko-oyebode-advises-totalenergies-ep-nigeria-limited-on-landmark-ima-gas-field-development/): Aluko & Oyebode advised TotalEnergies EP Nigeria Limited on the gas processing and transportation arrangements for the Ima Gas Field Project across OMLs 112 and 117 offshore Nigeria. - [An Analysis of the Nigerian Upstream Petroleum Decommissioning and Abandonment Regulations 2026 and its Impact on Upstream Petroleum Operations](https://aluko-oyebode.com/insights/nigerian-upstream-petroleum-decommissioning-abandonment-regulations-2026/): The Nigerian Upstream Petroleum Decommissioning and Abandonment Regulations 2026 (“the 2026 Regulations”), recently issued by the Nigerian Upstream Petroleum Regulatory Commission (the “Commission”) pursuant to sections 232 and 233 of the Petroleum Industry Act 2021 (“PIA”), for the regulation of the decommissioning and abandonment of the wells, installations and facilities used in upstream petroleum operations - [SEC Revises the Minimum Capital Requirements for Regulated Capital Market Entities](https://aluko-oyebode.com/insights/sec-minimum-capital-requirements-2026/): On 16 January 2026, the Nigerian Securities and Exchange Commission issued a circular to the market, increasing the capital thresholds for entities licensed in the Nigerian capital markets. The increased capital requirements apply to capital market operators, market infrastructure institutions, capital market consultants, financial technology operators, virtual asset service providers, and commodity market intermediaries. The - [Overview of The General Transition Guidelines for The New Tax Acts 2025](https://aluko-oyebode.com/insights/tax-acts-2025-transition-guidelines-nigeria/): On 18 June 2026, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, issued the General Transition Guidelines for the Tax Acts 2025 (the “Guidelines”) pursuant to Section 144 of the Nigeria Tax Administration Act 2025 and Section 200 of the Nigeria Tax Act 2025. The Guidelines provide a framework - [The Nigeria Data Protection Commission Commences Sector-By-Sector Investigation on Companies](https://aluko-oyebode.com/insights/continuation-of-sector-by-sector-investigation-by-ndpc/): The Nigeria Data Protection Commission (NDPC) has issued a public notice announcing the commencement of sector-by-sector investigations into organisations suspected of non-compliance with the provisions of the Nigeria Data Protection Act 2023 (NDPA). A total of 1,368 organisations are listed and are now required to present evidence of compliance with the NDPA within twenty-one (21) - [Aluko & Oyebode Advises Citibank Nigeria Limited In Connection With Its Capital Raising Exercise](https://aluko-oyebode.com/insights/citibank-nigeria-rights-issue/): Aluko & Oyebode is pleased to have advised Citibank Nigeria Limited in connection with its capital raise by way of a rights issue, which enabled Citibank Nigeria to meet the recapitalisation mandate of the Central Bank of Nigeria. The Firm’s transaction team provided comprehensive regulatory and legal support throughout the transaction. The Firm’s transaction team - [Aluko & Oyebode Achieves Leading Rankings in the 2025 IFLR1000 Sub-Saharan Africa Guide](https://aluko-oyebode.com/insights/aluko-oyebode-iflr1000-2025-rankings/): Aluko & Oyebode has been recognised in the 2025 IFLR1000 Sub-Saharan Africa rankings, reflecting the Firm’s continued strength across core transactional practices and its role in advising on significant and complex mandates in Nigeria and the wider region. The Firm achieved Tier 1 rankings in Banking; Capital Markets (Debt and Equity); Mergers & Acquisitions; Private Equity; and Projects. - [Aluko & Oyebode Shortlisted Across Multiple Categories at IFLR Africa 2026 Awards](https://aluko-oyebode.com/insights/aluko-oyebode-iflr-africa-2026-shortlist/): Aluko & Oyebode is pleased to be shortlisted across multiple categories at the IFLR Africa 2026 Awards, reflecting the breadth of our work across key practice areas and transactions in the Nigerian and regional markets. Our recognitions span Deal of the Year, Team of the Year, and Specialist and Firm categories, including Equity Capital Markets, - [Aluko & Oyebode Recognised at the 2025 ESQ Nigerian Legal Awards](https://aluko-oyebode.com/insights/aluko-oyebode-2025-esq-nigerian-legal-awards-wins/): We are pleased to announce that Aluko & Oyebode received nine Firm Awards and six individual recognitions at the 2025 ESQ Nigerian Legal Awards. The Firm was recognised across multiple practice areas, including Banking & Finance, Oil & Gas, Media & Entertainment, Aviation, Immigration, CSR/Pro Bono, and Regional practice leadership. Individual honours celebrated lawyers recognised - [Aluko & Oyebode Acts for Citibank, N.A., London Branch and Export Credits Guarantee Department (UK Finance Export) on £746 Million Nigerian Ports Authority Facility](https://aluko-oyebode.com/insights/citibank-and-uk-finance-export-on-746-million-nigerian-ports-authority-facility/): Nigerian counsel to the arranger and export credit agency on one of the largest export credit agency-supported buyer credit transactions in West Africa Lagos, Nigeria | 26 March 2026 Aluko & Oyebode has acted as Nigerian counsel to Citibank, N.A., London Branch (Citi) and Export Credits Guarantee Department (UK Export Finance) on the £746 million (around $1 billion) - [Nigeria Energy Sector Review: H2 2025 & 2026 Strategic Outlook](https://aluko-oyebode.com/insights/nigeria-energy-sector-review-2026-outlook/): As Nigeria’s energy sector enters 2026, the convergence of sustained regulatory reforms, targeted infrastructure investments, and shifting market dynamics across the power, oil and gas, and mining sectors is reshaping the commercial and legal landscape for investors, operators, and financiers. Power Sector: Decentralisation and Reform The ongoing decentralisation of electricity market regulation is taking firmer - [Aluko & Oyebode Advises Chariot Resources Limited on its Acquisition of Lithium Mining Licences in Nigeria](https://aluko-oyebode.com/insights/advises-chariot-resources-on-its-acquisition-of-lithium-mining-licences-in-nigeria/): Aluko & Oyebode is pleased to have acted as Nigerian legal adviser to Chariot Resources Ltd (formerly Chariot Corporation Limited) (ASX:CC9) (“Chariot“), an Australian mineral exploration company incorporated in Perth, Western Australia, and listed on the Australian Securities Exchange, in connection with its acquisition of interests in a portfolio of lithium exploration and mining licences in - [Nigeria Removed from FATF Grey List](https://aluko-oyebode.com/insights/nigeria-fatf-grey-list-removal-2025/): At the just concluded Financial Action Task Force (“FATF”) Plenary meeting held between the 22nd and 24th of October 2025, Nigeria, alongside other African nations Burkina Faso, Mozambique and South Africa was removed from the FATF Grey list- list of jurisdictions which had been placed under increased monitoring to address strategic deficiencies in their regimes - [Aluko & Oyebode Advises Leks Sports NG on $50 Million Strategic Partnership with Landmark Africa Group for the Development of Escola Park](https://aluko-oyebode.com/insights/leks-sports-strategic-partnership-with-landmark-africa/): Aluko & Oyebode has advised Leks Sports NG, a premier sports talent development and infrastructure firm, on its 25-year strategic partnership with Landmark Africa Group for the development of Escola Park, a multi-use sports, lifestyle and education city in Ogun State, Nigeria. The project, with an estimated Gross Development Value of US$50 million, will be situated - [Nigeria Data Protection Commission Issues Guidance Notice on Continuous Professional Development for Data Protection Officers](https://aluko-oyebode.com/insights/ndpc-issues-guidance-on-cpd-for-dpos/): The Nigeria Data Protection Commission (NDPC) has issued a Guidance Notice on Continuous Professional Development (CPD) for Data Protection Officers (Guidance Notice) pursuant to Schedule 3 of the General Application and Implementation Directive (GAID) 2025. The Guidance Notice operationalises the Data Protection Officers (DPO) verification framework under the Nigeria Data Protection Act (NDPA) 2023 and - [Aluko & Oyebode Advises on the MCM Funding SPV Plc Series 1 ₦5 Billion Fixed Rate Bond Issuance](https://aluko-oyebode.com/insights/advises-on-the-mcm-funding-spv-plc-series-1-₦5-billion-fixed-rate-bond-issuance/): Aluko & Oyebode is pleased to have advised MCM Funding SPV Plc (the “Issuer”) as Solicitor to the Issuer in connection with the issuance of its Series 1 Bond of up to ₦5 billion (the “Issuance” or the “Offer”) under its ₦50 billion Bond Issuance Programme. The Issuance, sponsored by MBO Capital Management Limited, priced - [Aluko & Oyebode Acts as Co-Counsel in Landmark $2 Billion ICSID Arbitration Settlement](https://aluko-oyebode.com/insights/co-counsel-in-landmark-2-billion-icsid-arbitration-settlement/): Lagos, Nigeria — March 2026 — Aluko & Oyebode, in collaboration with Three Crowns LLP, advised Eni on a landmark settlement with the Federal Republic of Nigeria, bringing to a close one of the most significant disputes in Nigeria’s oil and gas sector. The firm co-represented Eni International BV, Eni Holdings BV, and Nigerian Agip Exploration - [Africa at the Chokepoint: ALN’s New Research Series on Africa’s Supply Chain Crisis](https://aluko-oyebode.com/insights/africa-at-the-chokepoint-new-research-series-on-africas-supply-chain-crisis/): The closure of the Strait of Hormuz following the outbreak of hostilities in late February 2026 has triggered the most severe disruption to global energy and commodity flows in decades. For African governments, importers, and commercial actors, the consequences have been immediate and the legal questions urgent. Our Of Counsel and Co-Founder, Gbenga Oyebode MFR - [Aluko & Oyebode Advises on Landmark Medipool Public-Private Partnership to Transform Healthcare Procurement](https://aluko-oyebode.com/insights/landmark-ppp-medipool-nigeria-group-purchasing-organisation/): Aluko & Oyebode is pleased to have advised on a landmark Public-Private Partnership (PPP) between the Federal Government of Nigeria, represented by the Federal Ministry of Health and Social Welfare, and Medipool Nigeria Limited to establish a first-of-its-kind Group Purchasing Organisation in Nigeria. The initiative is designed to reduce the cost of essential medicines and - [EPC, Power and Project Delivery Risk in Nigeria’s Data- Centre Build](https://aluko-oyebode.com/insights/epc-power-and-project-delivery-risk-in-nigerias-data-centre-buildout/): On 15 June 2026, the Central Bank of Nigeria (“CBN”) issued a Circular requiring all payment transaction data generated in Nigeria to be stored and managed domestically by 1 January 2027.1 The rule applies across the payments ecosystem: banks, mobile money operators, switching companies, payment solution providers, and their upstream technology partners. Every affected institution - [Nigeria - Shipping Laws and Regulations 2026](https://aluko-oyebode.com/insights/nigeria-shipping-laws-and-regulations-2026/): Explore Nigeria’s shipping laws and regulations in the ICLG Shipping Law 2026 chapter authored by Aluko & Oyebode, covering key maritime legal issues. - [Nigeria’s New Virtual Asset Tax Guidelines: What Market Participants Need to Know](https://aluko-oyebode.com/insights/nigerias-new-virtual-asset-tax-guidelines-what-market-participants-need-to-know/): Explore Nigeria’s new Virtual Asset Tax Guidelines, including tax obligations, compliance requirements and key implications for VASPs and market participants. - [Aluko & Oyebode Advises on Africa Finance Corporation’s Landmark CHF 350 Million Digital Bond Issuance](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-africa-finance-corporations-landmark-chf-350-million-digital-bond-issuance/): Aluko & Oyebode advised Commerzbank and Deutsche Bank on AFC’s CHF 350 million digital bond issuance listed on SIX Swiss Exchange. - [Nigeria's Maritime Sector and Caselaw Review](https://aluko-oyebode.com/insights/nigerias-maritime-sector-and-caselaw-review/): Explore Nigeria’s maritime sector developments, regulatory updates and key maritime case law in Aluko & Oyebode’s Volume 2, 2026 review - [Tax Thursday H1 2026 Round-Up](https://aluko-oyebode.com/insights/tax-thursday-h1-2026-round-up/): Explore key tax developments and regulatory updates shaping Nigeria's business and investment landscape in H1 2026. - [An Examination of the Securities and Exchange Commission's Rules on Social Bonds](https://aluko-oyebode.com/insights/an-examination-of-the-securities-and-exchange-commissions-rules-on-social-bonds/): Introduction The Securities and Exchange Commission ("SEC" or the "Commission") on 29 October 2021 introduced new rules in relation to the issuance of social bonds in Nigeria (the "Social Bond Rules"). The Social Bond Rules (among other things) contain provisions defining social bonds, the types of projects eligible for social bonds, conditions for approval, as - [Beyond the Trust Deed: What Nigeria’s Legal Arrangements Framework Means for Trust Transparency](https://aluko-oyebode.com/insights/beyond-the-trust-deed-what-nigerias-legal-arrangements-framework-means-for-trust-transparency/): Trusts have been in use for decades in Nigeria as business and investment tools, vehicles for the execution of philanthropic projects for estate and succession planning, family wealth preservation and other legitimate purposes. Trusts had operated within a framework of applicable trust laws, sector specific regulation and the obligations applicable to financial institutions and professional - [Nigeria's Digital Asset Regulatory Reset](https://aluko-oyebode.com/insights/nigerias-digital-asset-regulatory-reset/): The Securities and Exchange Commission (SEC) has released the proposed Rules on Digital and Virtual Assets Operations, Custody and Markets 2026 (the “Proposed Digital Asset Rules” or “Proposed Rules”) for public consultation. If adopted, these rules will supersede the 2022 Rules on Issuance, Offering Platforms and Custody of Digital Assets (the “2022 Rules”) and all - [Aluko & Oyebode Advises Bank of Industry Limited on US$1 Billion Medium-Term Multi-Currency Instruments Programme and Debut N274.18 Billion Series 1 Bond Issuance](https://aluko-oyebode.com/insights/aluko-oyebode-advises-bank-of-industry-limited-on-us1-billion-medium-term-multi-currency-instruments-programme-and-debut-n274-18-billion-series-1-bond-issuance/): Aluko & Oyebode advises Bank of Industry on its US$1 billion multi-currency programme and landmark N274.2 billion 5-year Naira Bond, Nigeria’s largest non-Government bond issuance. - [Aluko & Oyebode advises on USD1.8 billion financing for the Federal Republic of Nigeria's Kano–Maradi Railway Project](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-usd1-8-billion-financing-for-the-federal-republic-of-nigerias-kano-maradi-railway-project/): Aluko & Oyebode pleased to have acted as Nigerian counsel to Africa Finance Corporation and Rand Merchant Bank, a division of FirstRand Bank Limited (London Branch), acting as Global Coordinators and Arrangers and the Lenders, in connection with the USD1.8 billion financing for the Federal Republic of Nigeria's Kano–Maradi Railway Project. The financing will fund Aluko & Oyebode pleased to have acted as Nigerian counsel to Africa Finance Corporation and Rand Merchant Bank, a division of FirstRand Bank Limited (London Branch), acting as Global Coordinators and Arrangers and the Lenders, in connection with the USD1.8 billion financing for the Federal Republic of Nigeria's Kano–Maradi Railway Project. The financing will fund - [Nigeria Energy Quarterly Report - Q2 2026](https://aluko-oyebode.com/insights/nigeria-energy-quarterly-report-q2-2026/): The Nigeria Energy Quarterly Report – Q2 2026 delivers a comprehensive review of the transformative developments that reshaped Nigeria's oil and gas, power, and mining sectors between April and June 2026. The oil and gas sector delivered notable wins during the quarter. Upstream production surged past OPEC quotas, reaching approximately 1.53 million barrels per day - [Nigeria’s Critical Minerals Moment: A Legal and Investment Framework for the Global Race Below the Surface](https://aluko-oyebode.com/insights/nigerias-critical-minerals-moment-a-legal-and-investment-framework-for-the-global-race-below-the-surface-2/): ABSTRACT The global energy transition has repositioned Nigeria’s solid minerals sector from a policy aspiration into a strategic imperative. Sitting atop confirmed reserves of lithium, copper, niobium, tantalum, manganese, and rare earth elements across 44 other mineral types, Nigeria holds an estimated $700 billion in unexplored mineral wealth. A confluence of legislative reform, institutional modernisation, - [Nigeria’s Critical Minerals Moment: A Legal and Investment Framework for the Global Race Below the Surface](https://aluko-oyebode.com/insights/nigerias-critical-minerals-moment-a-legal-and-investment-framework-for-the-global-race-below-the-surface/): ABSTRACT The global energy transition has repositioned Nigeria’s solid minerals sector from a policy aspiration into a strategic imperative. Sitting atop confirmed reserves of lithium, copper, niobium, tantalum, manganese, and rare earth elements across 44 other mineral types, Nigeria holds an estimated $700 billion in unexplored mineral wealth. A confluence of legislative reform, institutional modernisation, - [The Federal Electricity Sector in Nigeria – Legal and Commercial Considerations for Host Community Development Trusts](https://aluko-oyebode.com/insights/the-federal-electricity-sector-in-nigeria-legal-and-commercial-considerations-for-host-community-development-trusts/): The concept of the “host community” has become an established feature of Nigerian natural resource law, which emerged in the oil and gas industry in a response to decades of environmental harm caused to the environment and recognition that project developers owe responsibilities to the communities most directly affected by oil and gas operations. The - [Review of the Deep Offshore Oil and Gas Projects Incentives Order 2026](https://aluko-oyebode.com/insights/review-of-the-deep-offshore-oil-and-gas-projects-incentives-order-2026/): The Federal Government has issued the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026 (the “Order”), a project-level regime for Production Tax Credits (PTCs) and other fiscal incentives for qualifying deep offshore developments. The qualifying projects are greenfield crude oil or non-associated gas (NAG) development projects within one or more oil mining - [IP Newsletter – Volume 1, 2026](https://aluko-oyebode.com/insights/ip-newsletter-volume-1-2026/): The first half of 2026 has been a defining period for intellectual property in Nigeria. From stronger regulatory enforcement and landmark judicial decisions to meaningful policy implementations, intellectual property continues to play an increasingly central role in the country’s legal and business environment. As we navigate the dynamic landscape of IP, this Newsletter highlights significant - [Nigeria’s Cloud Regulatory Stack](https://aluko-oyebode.com/insights/nigerias-cloud-regulatory-stack/): Recently, the Federal Government of Nigeria, through the instrumentality of the Federal Ministry of Communications, Innovation, and Digital Economy, and the National Information Technology Development Agency (NITDA), introduced a suite of five interconnected cloud and digital infrastructure instruments driven by two key objectives: responding to the growing global demand for cloud computing and strengthening Nigeria’s - [Capital Markets Regulatory Update – Q2 2026](https://aluko-oyebode.com/insights/capital-markets-regulatory-update-q2-2026/): Introduction The Aluko & Oyebode Capital Markets Insights is a quarterly report providing updates on laws, regulations, and other activities in the Nigerian capital markets. This edition outlines updates from regulators of different capital market segments in Nigeria for the second quarter of 2026. 1. SEC ISSUES DIRECTIVE ON UNAUTHORISED ADVERTISEMENT OF DANGOTE REFINERY SECURITIES - [13th Annual Wharton Africa Business Forum](https://aluko-oyebode.com/insights/13th-annual-wharton-africa-business-forum/): Mr. Gbenga Oyebode was a member of the panel on "Entrepreneurship & Leadership" at the 13th Annual Wharton Business Forum organised by the Wharton Africa Business Forum at the Wharton School, University of Pennsylvania. The Forum took place at the University of Pennsylvania, Philadelphia, on the 19th of November, 2005. Over 30 speakers including CEO's, policy makers and academics participated in the Forum. The objective of the panel on Entrepreneurship & Leadership was to present each panellist’s individual experiences with entrepreneurship and leadership in Africa, including challenges faced, successes, and overall insights on the African business environment and to discuss entrepreneurial opportunities and challenges within the current African economic environment. - [The Eighth Annual Africa Business Conference organised by the Africa Business Club of Harvard Business School](https://aluko-oyebode.com/insights/the-eighth-annual-africa-business-conference-organised-by-the-africa-business-club-of-harvard-business-school/): Mr. Gbenga Oyebode was a member of the panel on "Agricultural and Rural Development" at the Eighth Annual Africa Business Conference organised by the Africa Business Club of Harvard Business School on the 18th of February, 2006. - [National Committee on the Reform and Harmonisation of Arbitration & ADR Laws](https://aluko-oyebode.com/insights/national-committee-on-the-reform-and-harmonisation-of-arbitration-adr-laws/): Mr. Babatunde Fagbohunlu was recently appointed Secretary to the National Committee on the Reform and Harmonisation of Arbitration & ADR Laws. - [The International Comparative Legal Guide to: PFI / PPP Projects 2007 A practical insight to cross-border PFI / PPP Projects work](https://aluko-oyebode.com/insights/the-international-comparative-legal-guide-to-pfi-ppp-projects-2007-a-practical-insight-to-cross-border-pfi-ppp-projects-work/): "This article first appeared in the 2007 edition of The International Comparative Legal Guide to: PFI / PPP Projects; published by Global Legal Group Ltd, London (www.iclg.co.uk) authored by Gbenga Oyebode and Oghogho Makinde" - [Aluko & Oyebode receives Commendation Award for promoting the culture of Pro Bono in Nigeria.](https://aluko-oyebode.com/insights/aluko-oyebode-receives-commendation-award-for-promoting-the-culture-of-pro-bono-in-nigeria/): Aluko & Oyebode received a commendation award for promoting the Pro Bono culture in Nigeria at the Lagos Public Interest Law Partnership (LPILP) Dinner/Launch of the Pro Bono Trust Fund with the theme, “Building a Culture of Pro Bono in Nigeria” on Friday, April 11, 2014 - [Aluko & Oyebode Partner appointed as a member of the LCIA Court](https://aluko-oyebode.com/insights/aluko-oyebode-partner-appointed-as-a-member-of-the-lcia-court/): We are pleased to announce the appointment of Mr. Babatunde Fagbohunlu, SAN (Head of Litigation and Arbitration/ADR) to the LCIA Court. - [National Industrial Court of Nigeria Alternative Dispute Resolutions Centre Rules and Centre Instruments 2015](https://aluko-oyebode.com/insights/national-industrial-court-of-nigeria-alternative-dispute-resolutions-centre-rules-and-centre-instruments-2015/): On 7th April, 2015, the President of the National Industrial Court of Nigeria (‘NIC’) made 2 (two) subsidiary instruments with commencement dates of 6th April, 2015, - [Aluko & Oyebode Partner, Mark Mordi and Senior Associate, Ngo-Martins Okonmah author the Nigeria Chapter of The Intellectual Property Review, 5th Edition](https://aluko-oyebode.com/insights/aluko-oyebode-partner-mark-mordi-and-senior-associate-ngo-martins-okonmah-author-the-nigeria-chapter-of-the-intellectual-property-review-5th-edition/): Nigeria offers protection for a range of intellectual property rights including copyrights, trademarks, patents and designs. Being largely an importer of technology and finished products, trademark rights remains the most significant... - [An Analysis of the Effective Means Standard as an Alternative to Securing Enforcement of Arbitral Awards in Nigeria](https://aluko-oyebode.com/insights/an-analysis-of-the-effective-means-standard-as-an-alternative-to-securing-enforcement-of-arbitral-awards-in-nigeria/): The effective means standard defined in the cases of Chevron Corporation and Texaco Petroleum Company v The Republic of Ecuador (‘Chevron’) and White Industries Australia Limited v Republic of India (‘White Industries’ )is increasingly relied upon by investors encountering inordinate delays and disconcerting confusion in the judicial system of a host state. - [Aluko & Oyebode advises 8 Miles LLP, African Capital Alliance Limited and DEG on their US$80 Million Equity Investment in Beloxxi Industries Limited](https://aluko-oyebode.com/insights/aluko-oyebode-advises-8-miles-llp-african-capital-alliance-limited-and-deg-on-their-us80-million-equity-investment-in-beloxxi-industries-limited/): Aluko & Oyebode acted as Nigerian counsel to a consortium consisting of Sub-Saharan Africa-focused 8 Miles LLP, West Africa-focused African Capital Alliance Limited and DEG, the German development finance institution in relation to its US$80 Million equity... - [Aluko & Oyebode triumphs as Law Firm of the Year at the ESQ Nigerian Legal Awards 2016](https://aluko-oyebode.com/insights/aluko-oyebode-triumphs-as-law-firm-of-the-year-at-the-esq-nigerian-legal-awards-2016/): Aluko & Oyebode triumphed at the ESQ Nigerian Legal Awards 2016, being named the Law Firm of the Year and the Telecommunications Team of the Year. - [Aluko & Oyebode wins prestigious Private Equity Africa Award](https://aluko-oyebode.com/insights/aluko-oyebode-wins-prestigious-private-equity-africa-award/): 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. - [Draft Business Continuity Regulations for the NESI](https://aluko-oyebode.com/insights/draft-business-continuity-regulations-for-the-nesi/): 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). - [FG Grants Pioneer Status to 27 Industries, issues New Application Guidelines](https://aluko-oyebode.com/insights/fg-grants-pioneer-status-to-27-industries-issues-new-application-guidelines/): 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. - [Overview of the Lagos State Electric Power Sector Reform Law](https://aluko-oyebode.com/insights/overview-of-the-lagos-state-electric-power-sector-reform-law/): 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. - [Aluko & Oyebode Associate, Mobayonle Ogunwumiju wins NBA Golf Tour 2018](https://aluko-oyebode.com/insights/aluko-oyebode-associate-mobayonle-ogunwumiju-wins-nba-golf-tour-2018/): Aluko & Oyebode Associate, Mobayonle Ogunwumiju won the 2018 Nigerian Bar Association (NBA) Golf Tour. - [The Federal Government of Nigeria Publishes an Official Gazette of the Current List of Pioneer Industries and Products](https://aluko-oyebode.com/insights/federal-government-of-nigeria-publishes-an-official-gazette-of-the-current-list-of-pioneer-industries-and-products/): 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 - [Aluko & Oyebode advises SAHCO on its Initial Public Offering of Shares on The Nigerian Stock Exchange](https://aluko-oyebode.com/insights/aluko-oyebode-advises-sahco-on-its-initial-public-offering-of-shares-on-the-nigerian-stock-exchange/): 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 - [CBN issues Draft Guidelines to address Cybersecurity in Financial Sector](https://aluko-oyebode.com/insights/cbn-issues-draft-guidelines-to-address-cybersecurity-in-financial-sector/): 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 - [Aluko & Oyebode sponsors the Regional Training Workshop on Dispute Management in Africa Infrastructure Projects](https://aluko-oyebode.com/insights/aluko-oyebode-sponsors-the-regional-training-workshop-on-dispute-management-in-africa-infrastructure-projects/): 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) – - [Analysis of the Nigerian Code of Corporate Governance 2018](https://aluko-oyebode.com/insights/analysis-of-the-nigerian-code-of-corporate-governance-2018/): 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 - [PENCOM Grants New PFA License](https://aluko-oyebode.com/insights/pencom-grants-new-pfa-license/): 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 - [Nigeria’s President Signs the Federal Competition and Consumer Protection Bill into Law](https://aluko-oyebode.com/insights/nigerias-president-signs-the-federal-competition-and-consumer-protection-bill-into-law/): 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 - [A Review of the Federal Competition and Consumer Protection Act 2019](https://aluko-oyebode.com/insights/review-of-the-federal-competition-and-consumer-protection-act-2019/): 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. - [The National Housing Fund (Establishment) Bill 2018 Awaits Presidential Assent](https://aluko-oyebode.com/insights/the-national-housing-fund-establishment-bill-2018-awaits-presidential-assent/): 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 - [Notification of the Commencement of the Full Implementation of the Nigeria Data Protection Regulations](https://aluko-oyebode.com/insights/notification-of-commencement-of-full-implementation-of-the-nigeria-data-protection-regulation/): 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. - [Circular on the Review of Minimum Paid-Up Share Capital for Insurance and Reinsurance Companies in Nigeria](https://aluko-oyebode.com/insights/circular-on-the-review-of-minimum-paid-up-share-capital-for-insurance-and-reinsurance-companies-in-nigeria/): 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. - [Launch of the Nigerian Immigration Service (NIS) New Visa-On-Arrival Application Process for all Business Travellers and African Union Countries](https://aluko-oyebode.com/insights/launch-of-the-nigerian-immigration-service-nis-new-visa-on-arrival-application-process/): 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. - [Aluko & Oyebode’s Chairman appointed to the Board of Trustees of the Ford Foundation](https://aluko-oyebode.com/insights/aluko-oyebodes-chairman-appointed-to-the-board-of-trustees-of-the-ford-foundation/): 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 - [Aluko & Oyebode advises Goodwell on its investment in MAX.Ng (Series A Funding)](https://aluko-oyebode.com/insights/aluko-oyebode-advises-goodwell-on-its-investment-in-max-ng-series-a-funding/): 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 - [The Nigeria Data Protection – Implementation Framework 2019](https://aluko-oyebode.com/insights/the-nigeria-data-protection-implementation-framework-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 - [Taxing Digital Economy: FIRS Advocates for Law Reform](https://aluko-oyebode.com/insights/taxing-digital-economy-firs-advocates-for-law-reform/): 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”, - [Incorporation of Trademarks as Company Names by Third Parties](https://aluko-oyebode.com/insights/incorporation-of-trademarks-as-company-names-by-third-parties/): 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 - [Additional NAICOM Guidance on Recapitalization Requirements for Insurance Companies](https://aluko-oyebode.com/insights/additional-naicom-guidance-on-recapitalization-requirements-for-insurance-companies/): 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 - [New Dawn in Nigeria: Evolution of the Trademark Ecosystem in Africa’s Biggest Economy](https://aluko-oyebode.com/insights/new-dawn-in-nigeria-evolution-of-the-trademark-ecosystem-in-africas-biggest-economy/): 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 - [Aluko & Oyebode Partners, Olubunmi Fayokun and Oghogho Makinde named to the 2019 IFLR1000 Women Leaders List](https://aluko-oyebode.com/insights/aluko-oyebode-partners-olubunmi-fayokun-and-oghogho-makinde-named-to-the-2019-iflr1000-women-leaders-list/): 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 - [Aluko & Oyebode Partner, Babatunde Fagbohunlu, SAN nominated for the African Arbitrator of the Year Award](https://aluko-oyebode.com/insights/aluko-oyebode-partner-babatunde-fagbohunlu-san-nominated-for-the-african-arbitrator-of-the-year-award/): 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 - [The Federal Competition and Consumer Protection Act: An Improved Regulatory Landscape for Merger Control in Nigeria](https://aluko-oyebode.com/insights/the-federal-competition-and-consumer-protection-act-an-improved-merger-control-regulatory-landscape-in-nigeria/): 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 - [Debt Capital vs. Equity Capital: Finding the Right Fit for your Business](https://aluko-oyebode.com/insights/debt-capital-vs-equity-capital-finding-the-right-fit-for-your-business/): 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 - [NOTAP Reforms – Automation of Registration Process of Technology Transfer Agreements](https://aluko-oyebode.com/insights/notap-reforms-automation-of-registration-process-of-technology-transfer-agreements/): 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 - [Recent Tax Changes in Nigeria](https://aluko-oyebode.com/insights/recent-tax-changes-in-nigeria/): 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, - [The 2016-2018 Minor Review of the Multi Year Tariff Order 2015 for the Nigeria Electricity Market](https://aluko-oyebode.com/insights/2016-2018-minor-review-of-the-multi-year-tariff-order-2015-for-the-nigeria-electricity-market/): 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 - [Aluko & Oyebode advises Standard Chartered Group on the Nigerian aspects of its Private Equity Divestment](https://aluko-oyebode.com/insights/aluko-oyebode-advises-standard-chartered-group-on-the-nigerian-aspects-of-its-private-equity-divestment/): 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 - [Aluko & Oyebode advises Metropolitan International Holdings on the Divestment of its entire shareholding in Metropolitan Life Insurance Limited](https://aluko-oyebode.com/insights/aluko-oyebode-advises-metropolitan-international-holdings-on-the-divestment-of-its-entire-shareholding-in-metropolitan-life-insurance-limited/): 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 - [Can a Power of Attorney Transfer Interest in Land to a Donee? A Review of the Decision in Ibrahim & Ors v. Obaje](https://aluko-oyebode.com/insights/can-a-power-of-attorney-transfer-interest-in-land-to-a-donee-a-review-of-the-decision-in-ibrahim-ors-v-obaje/): 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 - [Limitation of Action in Tax Matters and the Recent Decision of the Tax Appeal Tribunal in Nigeria](https://aluko-oyebode.com/insights/limitation-of-action-in-tax-matters-and-the-recent-decision-of-the-tax-appeal-tribunal-in-nigeria/): 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 - [Aluko & Oyebode advises Interswitch Limited on its Acquisition of 60% stake in E’clat Healthcare Limited](https://aluko-oyebode.com/insights/aluko-oyebode-advises-interswitch-on-its-acquisition-of-60-stake-in-eclat-healthcare-limited/): 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 - [Curtailment of the Unlimited Jurisdiction of the State High Court: A Review of the Supreme Court Decisions in Federal Republic of Nigeria v. Enwenede Solomon & Ors. and National Union of Electricity Employees & Anor. v. Bureau of Public Enterprises](https://aluko-oyebode.com/insights/curtailment-of-the-unlimited-jurisdiction-of-the-state-high-court-a-review-of-the-supreme-court-decisions-in-federal-republic-of-nigeria-v-enwenede-solomon-ors-and-national-union-of-electricity-e/): The Supreme Court recently held in the case of Federal Republic of Nigeria v. Enwenede Solomon & Ors (Solomon’s Case) that aside from the Constitution, rules of court or a statute can also curtail the unlimited jurisdiction of a State High Court under the Constitution. Seven years earlier, the same court had held in the - [Mandatory e-Registration Exercise for Foreigners in Nigeria](https://aluko-oyebode.com/insights/mandatory-e-registration-exercise-for-foreigners-in-nigeria/): 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 - [Aluko & Oyebode advises Olam International on its Acquisition of Dangote Flour Mills](https://aluko-oyebode.com/insights/aluko-oyebode-advises-olam-international-on-its-acquisition-of-dangote-flour-mills/): 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 - [The Private Guard Companies Regulations, 2018: Implications on Foreign Participation in Private Security Services in Nigeria](https://aluko-oyebode.com/insights/the-private-guard-companies-regulations-2018-implications-on-foreign-participation-in-private-security-services-in-nigeria/): 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 - [False Online Publication Injurious to Another: An Examination of Prank as a Defence under Nigerian Law](https://aluko-oyebode.com/insights/false-online-publication-injurious-to-another-an-examination-of-prank-as-a-defence-under-nigerian-law/): 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 - [The Guidelines for the Release of Staff in the Nigerian Oil and Gas Industry, 2019](https://aluko-oyebode.com/insights/the-guidelines-for-the-release-of-staff-in-the-nigerian-oil-and-gas-industry-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 - [How Should Nigeria Regulate its Fintech Industry?](https://aluko-oyebode.com/insights/how-should-nigeria-regulate-its-fintech-industry/): 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 - [FIRS: National Information Technology Development Levy](https://aluko-oyebode.com/insights/3732/): 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 - [The Finance Act 2019: Significant Changes to Nigeria’s Tax Landscape](https://aluko-oyebode.com/insights/finance_act_2019/): 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 - [The Nigeria Visa Policy 2020](https://aluko-oyebode.com/insights/the-nigeria-visa-policy-2020/): The Nigerian Immigration Service has recently issued a new Nigerian visa policy. The Nigeria Visa Policy (the “Policy”) is designed to support the attainment of the Economic Recovery and Growth Plan, improve the Nigerian business environment and attract foreign direct investment in Nigeria, amongst other things. A major highlight of the Policy is the introduction - [Submission of Statutory Nigerian Content Reports for 2020](https://aluko-oyebode.com/insights/submission-of-statutory-nigerian-content-reports-for-2020/): On 27 January 2020, the Nigerian Content Development and Monitoring Board issued a public notice, notifying stakeholders, particularly operators and service providers in the Nigerian oil and gas industry, of their obligation to submit statutory reports in accordance with the Nigerian Oil and Gas Industry Content Development Act, 2010. Read more >> - [The Lawful Interception of Communications Regulations](https://aluko-oyebode.com/insights/the-lawful-interception-of-communications-regulations/): 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 - [NITDA: Notice on Filing of 2020 Annual Audit Report](https://aluko-oyebode.com/insights/nitda-notice-on-filing-of-2020-annual-audit-report/): 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 - [Aluko & Oyebode Admits New Partner: Funmilayo Otsemobor](https://aluko-oyebode.com/insights/aluko-oyebode-admits-new-partner-funmilayo-otsemobor/): 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, - [Aluko & Oyebode advises Orange Digital Ventures LLC on its investment round in Youverify](https://aluko-oyebode.com/insights/aluko-oyebode-advises-orange-digital-ventures-llc-on-its-investment-round-in-youcheck-online-services-limited/): 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 & - [Intellectual Property Newsletter | First Issue 2020](https://aluko-oyebode.com/insights/intellectual-property-newsletter-first-issue-2020/): 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 - [Compliance with the National Housing Fund Act](https://aluko-oyebode.com/insights/compliance-with-the-national-housing-fund-act/): 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% - [Evaluating the Current Trend in Oil Spill Litigation in Nigeria](https://aluko-oyebode.com/insights/evaluating-the-current-trend-in-oil-spill-litigation-in-nigeria/): 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 - [NITDA issues Guidance on Data Backup as Impact Mitigation Strategy in light of the COVID-19 Pandemic](https://aluko-oyebode.com/insights/nitda-issues-guidance-on-data-backup-as-impact-mitigation-strategy-in-light-of-the-covid-19-pandemic/): 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 - [Innovate for a Green Future – Nigeria](https://aluko-oyebode.com/insights/innovate-for-a-green-future-nigeria/): 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 - [COVID-19: Employment and Labour Relations](https://aluko-oyebode.com/insights/covid-19-employment-and-labour-relations/): 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 - [COVID-19: Managing Disruption in the Nigerian Aviation Industry](https://aluko-oyebode.com/insights/covid-19-managing-disruption-in-the-nigerian-aviation-industry/): 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 - [PODCAST: Navigating the Risks and Legal Bottlenecks in a Dynamic Market (Aviation)](https://aluko-oyebode.com/insights/aluko-oyebode-covid-19-managing-disruption-podcast-series/): 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 - [Data Protection and COVID-19](https://aluko-oyebode.com/insights/data-protection-and-covid-19/): 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 - [PODCAST: COVID-19 and Employee Matters](https://aluko-oyebode.com/insights/podcast-covid-19-and-employee-matters/): 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 - [Insurance Relief: Has your Business been interrupted by COVID-19?](https://aluko-oyebode.com/insights/insurance-relief-has-your-business-been-interrupted-by-covid-19/): 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 - [Second Extension of Filing of 2020 Audit Report issued by NITDA](https://aluko-oyebode.com/insights/second-extension-of-filing-of-2020-audit-report-issued-by-nitda/): 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 - [Aluko & Oyebode advises Axxela Limited in the establishment of its ₦50 Billion Bond Issuance Programme and the issuance of its ₦11.5 Billion Series 1 Bonds](https://aluko-oyebode.com/insights/aluko-oyebode-advises-axxela-limited-in-the-establishment-of-its-₦50-billion-bond-issuance-programme-and-the-issuance-of-its-₦11-5-billion-series-1-bonds/): 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 - [Other States Adopt Reduction of Right of Way Charges](https://aluko-oyebode.com/insights/other-states-adopt-reduction-of-right-of-way-charges/): 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 - [The Federal Government Approves New Health Protocol for International Flights](https://aluko-oyebode.com/insights/the-federal-government-approves-new-health-protocol-for-international-flights/): 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 - [Open Banking – Revolution or Risk?](https://aluko-oyebode.com/insights/open-banking-revolution-or-risk/): 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, - [Aluko & Oyebode advises Sanlam Emerging Markets Proprietary Limited on its acquisition of 100% Shareholding in FBN Insurance Limited](https://aluko-oyebode.com/insights/aluko-oyebode-advises-sanlam-emerging-markets-proprietary-limited-on-its-acquisition-of-100-shareholding-in-fbn-insurance-limited/): 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 - [NAICOM issues Circular on the Segmentation of Minimum Paid Up Share Capital Requirement for Insurance Companies in Nigeria](https://aluko-oyebode.com/insights/naicom-issues-circular-on-the-segmentation-of-minimum-paid-up-share-capital-requirement-for-insurance-companies-in-nigeria/): 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 - [Marginal Fields Bid Round 2020](https://aluko-oyebode.com/insights/marginal-fields-bid-round-2020/): 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 - [Guidelines for the Management of Personal Data by Public Institutions in Nigeria, 2020](https://aluko-oyebode.com/insights/guidelines-for-the-management-of-personal-data-by-public-institutions-in-nigeria-2020/): 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 - [Lagos State to Revert to Pre-2018 Land Use Charge](https://aluko-oyebode.com/insights/lagos-state-to-revert-to-pre-2018-land-use-charge/): 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 - [Revised Quarantine Protocol for Persons Arriving in Nigeria](https://aluko-oyebode.com/insights/revised-quarantine-protocol-for-persons-arriving-in-nigeria/): 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 - [Aluko & Oyebode advises on US$700 Million Eurobond Issuance by Africa Finance Corporation](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-us700-million-eurobond-issuance-by-africa-finance-corporation/): 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 - [COVID-19 and the Sports Industry: Kitting Up for the Next Challenge after COVID-19](https://aluko-oyebode.com/insights/covid-19-and-the-sports-industry-kitting-up-for-the-next-challenge-after-covid-19/): 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) - [The 2020 Marginal Fields Bid Round](https://aluko-oyebode.com/insights/the-2020-marginal-fields-bid-round/): 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 - [FIRS to Begin Audit and Recovery of Outstanding Stamp Duties, Targets N1 Trillion Annually from Stamp Duty](https://aluko-oyebode.com/insights/firs-to-begin-audit-and-recovery-of-outstanding-stamp-duties-targets-n1-trillion-annually-from-stamp-duty/): 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 - [Aluko & Oyebode advises Honoris United Universities in its acquisition of the entire shareholding of Nile University of Nigeria](https://aluko-oyebode.com/insights/aluko-oyebode-advises-honoris-united-universities-in-its-acquisition-of-the-entire-shareholding-of-nile-university-of-nigeria/): 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 - [Expatriate Quota Administration Handbook](https://aluko-oyebode.com/insights/expatriate-quota-administration-handbook/): 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, - [Aluko & Oyebode advises Access Bank Plc on the Nigerian law aspects of its Acquisition of Transnational Bank (Kenya) Plc](https://aluko-oyebode.com/insights/aluko-oyebode-advises-access-bank-plc-on-the-nigerian-law-aspects-of-its-acquisition-of-transnational-bank-kenya-plc/): 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 - [Other States Adopt Reduction of Right of Way Charges](https://aluko-oyebode.com/insights/other-states-adopt-reduction-of-right-of-way-charges-2/): 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 - [FIRS Clarifies Stamp Duty Rate on Lease Agreements](https://aluko-oyebode.com/insights/firs-clarifies-stamp-duty-rate-on-lease-agreements/): 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 - [NESG officially presents the 2020 National Sports Industry Policy (Draft) to the Minister of Youths and Sports and Calls for Public Review on the Draft Policy](https://aluko-oyebode.com/insights/nesg-officially-presents-the-2020-national-sports-industry-policy-draft-to-the-minister-of-youths-and-sports-and-calls-for-public-review-on-the-draft-policy/): 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 - [Aluko & Oyebode advises AXA Mansard Insurance Plc on the Divestment of its Shareholding in AXA Mansard Pensions Limited](https://aluko-oyebode.com/insights/aluko-oyebode-advises-axa-mansard-insurance-plc-on-the-divestment-of-its-shareholding-in-axa-mansard-pensions-limited/): 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 - [NITDA Issues Draft Framework on Alternative Dispute Resolution for the ICT Sector](https://aluko-oyebode.com/insights/nitda-issues-draft-framework-on-alternative-dispute-resolution-for-the-ict-sector/): 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 - [Companies and Allied Matters Act 2020](https://aluko-oyebode.com/insights/companies-and-allied-matters-act-2020/): 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 - [Registration of Content Producers and the Imposition of a 5% Levy on all Content Produced in Lagos State](https://aluko-oyebode.com/insights/registration-of-content-producers-and-the-imposition-of-a-5-levy-on-all-content-produced-in-lagos-state/): 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 - [Nigerian Communications Commission Revises Determination on USSD Pricing](https://aluko-oyebode.com/insights/nigerian-communications-commission-revises-determination-on-ussd-pricing/): 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) - [Termination without Reason: Has the Law in Nigeria Changed?](https://aluko-oyebode.com/insights/termination-without-reason-has-the-law-in-nigeria-changed/): 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 - [Registration of Content Producers and the Imposition of a 5% Levy on all Content Produced in Lagos State](https://aluko-oyebode.com/insights/registration-of-content-producers-and-the-imposition-of-a-5-levy-on-all-content-produced-in-lagos-state-2/): 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 - [SEC Issues a Statement on the Classification and Treatment of Digital Assets](https://aluko-oyebode.com/insights/sec-issues-statement-on-treatment-of-digital-assets/): 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 - [Amendments to the 6th Edition of the Nigeria Broadcasting Code](https://aluko-oyebode.com/insights/re-amendments-to-the-6th-edition-of-the-nigeria-broadcasting-code-2/): 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 - [CBN issues Framework for the Implementation of Intervention Facility for the National Gas Expansion Programme](https://aluko-oyebode.com/insights/cbn-framework-for-the-implementation-of-intervention-facility-for-the-national-gas-expansion-programme-the-programme/): 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 - [Aluko & Oyebode Advises on Inaugural CHF150 Million Green Bond Issuance by Africa Finance Corporation](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-inaugural-chf150-million-green-bond-issuance-by-africa-finance-corporation/): 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 - [NCC Lifts Suspension of Spectrum Trading Guidelines](https://aluko-oyebode.com/insights/ncc-lifts-suspension-of-spectrum-trading-guidelines/): 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 - [Aluko & Oyebode advises Stripe on its proposed acquisition of Paystack](https://aluko-oyebode.com/insights/aluko-oyebode-advises-stripe-on-its-proposed-acquisition-of-paystack/): 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. - [Recent Unfolding Events](https://aluko-oyebode.com/insights/recent-unfolding-events/): The purpose of this communication is to convey our deep appreciation for the support and encouragement from our clients, friends, and colleagues from far and wide during these difficult and challenging times. Earlier this year, we were faced with challenges that arose from the COVID-19 pandemic. These challenges have persisted to date. More recently in - [NCC Grants Trial Approval for National Roaming Service](https://aluko-oyebode.com/insights/ncc-grants-trial-approval-for-national-roaming-service/): Roaming service in the international space is almost taken for granted because there are different dedicated frequency bands applicable to the same technology in different jurisdictions. Thus, there is a need to situate this discussion in the national space. The underlying principles for national roaming is the same for international roaming i.e. they both enable - [Legal Workshop on Dispute Management for Infrastructure Projects in Africa](https://aluko-oyebode.com/insights/legal-workshop-on-dispute-management-for-infrastructure-projects-in-africa/): Aluko & Oyebode (“The Firm”), Nigeria’s largest and leading full service law firm, in collaboration with other law firms such as Hogan Lovells, Linklaters and Baker Mckenzie, as well as the Lagos Chamber of Commerce International Arbitration Centre (LACIAC) and Association for Consulting Engineers in Nigeria (ACEN), hosted a virtual regional training workshop on dispute - [Aluko & Oyebode Partner, Chukwuka Ikwuazom, Elevated to the cadre of Senior Advocate of Nigeria (SAN)](https://aluko-oyebode.com/insights/aluko-oyebode-partner-chukwuka-ikwuazom-elevated-to-senior-advocate-of-nigeria/): We are pleased to announce the conferment of our Partner, Chukwuka Ikwuazom, with the rank of Senior Advocate of Nigeria (SAN) by the Nigerian Legal Practitioners Privileges Committee. He was sworn in by the Chief Justice of Nigeria at the Supreme Court, Abuja on 14 December 2020. Chukwuka Ikwuazom was elevated to Partner in the - [Announcement of New Managing Partner: Reginald Udom](https://aluko-oyebode.com/insights/announcement-of-new-managing-partner-reginald-udom/): Aluko & Oyebode is pleased to announce the appointment of Reginald Udom as the Managing Partner of the Firm, effective January 1st, 2021. Also effective January 1st, Kofo Dosekun, the current Managing Partner, will become the Chair of the Firm’s Management Board, while current Chairman, Gbenga Oyebode, will stay actively involved as an “Of Counsel”. - [Intellectual Property Newsletter | Fourth Issue 2020](https://aluko-oyebode.com/insights/intellectual-property-newsletter-fourth-issue-2020/): As 2020 draws to a close, we bring you the 4th volume of our IP newsletter and extend a special greeting to our clients, readers, and friends for staying with us throughout these unprecedented times. We look forward to bringing you continued updates in the New Year and use this opportunity to wish you an - [Aluko & Oyebode advises United States International Development Finance Corporation in connection with a US$250 million tier-2 capital loan advanced to Africa Finance Corporation](https://aluko-oyebode.com/insights/aluko-oyebode-advises-united-states-international-development-finance-corporation-in-connection-with-a-us250-million-tier-2-capital-loan-advanced-to-africa-finance-corporation/): The Firm is pleased to have advised the United States International Development Finance Corporation (DFC) in connection with a US$250 million tier-2 capital loan advanced to Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa. We are proud to have been involved in this key transaction which will be instrumental in bridging Africa’s - [Oil & Gas Construction Law Roundtable Series](https://aluko-oyebode.com/insights/oil-gas-construction-law-roundtable-series/): Aluko & Oyebode in collaboration with Baker Mckenzie will host a Roundtable Series on Oil & Gas Construction Law covering the following topics: Procurement methods and risk allocation (Tuesday, 26 January 2021) Regulatory landscape, local content requirement and compliance considerations (Thursday, 4 February 2021) Effective contract management (Thursday, 18 February 2021) Dealing with contractor claims - [Treatment of Broadcasting Rights in the Two Largest Markets in Sub-Saharan Africa](https://aluko-oyebode.com/insights/treatment-of-broadcasting-rights-in-the-two-largest-markets-in-sub-saharan-africa-newsletter-publication/): Broadcasting rights are and have continually become a source of vibrant discussion amongst the various key players, notably the broadcast rights holders, and regulatory authorities trying to find a delicate balance between what oftentimes are competing interests. The aim of this Guide is to provide an overview and comparison of the broadcasting rights regimes in - [NCC Releases SIM Replacement Policy for the Nigerian Telecommunications Industry](https://aluko-oyebode.com/insights/ncc-releases-sim-replacement-policy-for-the-nigerian-telecommunications-industry/): The Nigerian Communications Commission (NCC) is charged with the general responsibility for the economic and technical regulation of the communications industry. There have been a few developments and mandates issued by the NCC in the past few weeks, notable amongst the recent development is the ongoing audit of the subscriber registration database. The NCC has - [Aluko & Oyebode Advises Allianz Nigeria Insurance on its Minority Buyout by its Core Shareholder through a Scheme of Arrangement and its subsequent recapitalisation](https://aluko-oyebode.com/insights/aluko-oyebode-advises-allianz-nigeria-insurance-on-its-minority-buyout-by-its-core-shareholder-through-a-scheme-of-arrangement-and-its-subsequent-recapitalization/): Aluko & Oyebode is pleased to have advised Allianz Nigeria Insurance Limited (“Allianz Nigeria” or the “Company”) in connection with the acquisition of the entire shareholding of its minority shareholders by its core shareholder, Société Fonciere Europeenne B.V through a Scheme of Arrangement (the “Scheme”). Following the completion of the Scheme, the Firm also advised - [Electronic Registration of Charges via the Corporate Affairs Commission Post-Incorporation Portal](https://aluko-oyebode.com/insights/electronic-registration-of-charges-via-the-corporate-affairs-commission-post-incorporation-portal/): On 7 August 2020, the Companies and Allied Matters Act (the “CAMA 2020”) was passed into law; repealing the Companies and Allied Matters Act of 1990 (the “CAMA 1990”). The CAMA 2020 introduces various changes to the administration of companies in Nigeria and in particular, has reduced the filing fees payable on the registration of - [Filmmakers Assistance [Press Release]](https://aluko-oyebode.com/insights/filmmakers-assistance-press-release/): As part of Aluko & Oyebode’s (“the Firm”) commitment to provide valuable support to Nigerian businesses, two units within the Firm, namely, (i) the Telecommunications, Media, Entertainment & Technology unit; and (ii) the Dispute Resolution unit, have identified the film industry (Nollywood) as recipients of our corporate social responsibility initiative. The Firm acknowledges the hard - [The SEC Approved Rules on Crowdfunding](https://aluko-oyebode.com/insights/the-sec-approved-rules-on-crowdfunding/): On 21 January 2021, the Securities and Exchange Commission (“SEC”) published its approved Rules on Crowdfunding (the “Crowdfunding Rules” or the “Rules”), following the release of its draft exposure rules on crowdfunding on 28 March 2020. Crowdfunding refers to the means by which persons or entities, in want of funds for specific objectives, raise a - [Aluko & Oyebode advises on the Demutualisation of The Nigerian Stock Exchange](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-the-demutualisation-of-the-nigerian-stock-exchange/): Aluko & Oyebode is pleased to have acted as sole legal adviser to The Nigerian Stock Exchange (“The Exchange”) in connection with the demutualisation and restructuring of The Exchange. The demutualisation process, which was effected pursuant to the Demutualisation of The Nigerian Stock Exchange Act, 2018 via a Scheme of Arrangement sanctioned by the Federal - [NITDA Imposes Fines for Data Breach](https://aluko-oyebode.com/insights/nitda-imposes-fines-for-data-breach/): The National Information Technology Development Agency (the “NITDA”) is empowered under the Nigerian Data Protection Regulation (“the NDPR”) to impose fines for any data breach by data controllers or processors. True to its mandate, the NITDA, on the 15 March 2021 imposed a fine of N5, 000,000[1] (Five Million Naira) on a Fintech company and - [NITDA Extends Filing of 2021 Audit Report](https://aluko-oyebode.com/insights/nitda-extends-filing-of-2021-audit-report/): The Nigerian Data Protection Regulation (“the NDPR”) issued by the National Information Technology Development Agency (NITDA) requires all organisations that collect and process personal data (“Data Controllers”) of more than 2,000 subjects, to submit a summary of their organisation’s data protection audit not later than 15 March of every year. The NITDA, in recognition of - [Aluko & Oyebode commences its Filmmakers Assistance Project](https://aluko-oyebode.com/insights/aluko-oyebode-commences-its-filmmakers-assistance-project/): We are excited to announce that the Aluko & Oyebode Filmmakers Assistance Project has now commenced. We are currently supporting interesting projects in the industry and look forward to supporting others in producing films with "credible" legal content. For more information about Filmmakers Assistance Project, please click here. Applications for the 2021 session are open - [Aluko & Oyebode advises on US$750 Million Eurobond Issuance by Africa Finance Corporation](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-us750-million-eurobond-issuance-by-africa-finance-corporation/): Aluko & Oyebode (the “Firm”) is pleased to have acted as sole Nigerian legal counsel in connection with the successful issuance of US$750 Million 2.875 per cent Rule144A/Regulation S Notes due 2028 (the “Bond Issuance”) by Africa Finance Corporation (the “Corporation”) for which the Firm represented the “Joint Lead Managers” (First Abu Dhabi Bank PJSC, - [Intellectual Property Newsletter | Second Issue 2021](https://aluko-oyebode.com/insights/intellectual-property-newsletter-2021/): Aluko & Oyebode IP news team brings you the Second Quarter Volume 2 of our Intellectual Property newsletter. Activities at the Regulatory Agencies As the government regulatory agencies continue to open activities with the public during this period: The Honourable Trademarks Registrar, Mr Shafiu Yauri joined the Nation’s think tank, Course 43 of the National - [Aluko & Oyebode advises MTN Nigeria Communications Plc on the establishment of its ₦200 Billion Bond Issuance Programme and the Issuance of the ₦110,000,000,000.00 Series 1 Bonds](https://aluko-oyebode.com/insights/aluko-oyebode-advises-mtn-nigeria-communications-plc-on-the-establishment-of-its-₦200-billion-bond-issuance-programme-and-the-issuance-of-the-₦110000000000-00-series-1-bonds/): Aluko & Oyebode is pleased to have advised MTN Nigeria Communications Plc on the establishment of its ₦200,000,000,000.00 Bond Issuance Programme and the issuance of the ₦110,000,000,000.00 Series 1 Bonds. The Transaction is the first bond issuance by a Nigerian telecommunications company and one of the largest bond issues by a corporate entity in the - [Oil & Gas Construction Roundtable Series](https://aluko-oyebode.com/insights/oil-gas-construction-roundtable-series/): Aluko & Oyebode in collaboration with international law firm Baker Mckenzie, hosted a virtual Oil & Gas Construction Law Roundtable series for select senior oil and gas stakeholders operating in Nigeria, which took place on 26th January 2021, 4th, 18th, and 25th February, and 2nd March 2021. The series offered participants insight in addressing current - [The Prevention Principle and the Risk of Employer-Caused Delay under the 2017 FIDIC Suite of Contracts](https://aluko-oyebode.com/insights/the-prevention-principle-and-the-risk-of-employer-caused-delay-under-the-2017-fidic-suite-of-contracts/): INTRODUCTION Since the publication by the Fédération Internationale des Ingénieurs Conseils (“FIDIC”) of the 2017 Edition of the FIDIC Suite of Contracts, there have been discussions about its key features and how they differ from those of the 1999 FIDIC Suite of Contracts. Many commentators have pointed out the distinction between the notification and claims - [CBN issues Regulatory Framework for Open Banking in Nigeria](https://aluko-oyebode.com/insights/cbn-issues-regulatory-framework-for-open-banking-in-nigeria/): Open banking was first implemented in the United Kingdom through the revised Payment Services Directive (PSD2) and Open Banking Standard in 2018 and since then several jurisdictions around the world have begun to adopt their own approaches to open banking.[1] In line with its mandate to promote the stability and deepening of the financial system, - [Aluko & Oyebode Senior Associate, Tosin Iyayi Appointed Secretary of the Insolvency and Restructuring Committee of the Nigerian Bar Association Section on Business Law](https://aluko-oyebode.com/insights/tosin_iyayi_insolvency_and_restructuring_committee/): We are pleased to announce the appointment of Aluko & Oyebode Senior Associate, Tosin Iyayi, as the Secretary of the Insolvency and Restructuring Committee of the Nigerian Bar Association Section on Business Law. Tosin is a seasoned litigator and a core member of the Firm’s banking, insolvency, and debt recovery dispute team. She has represented - [A Review of the Nigeria Customs Service’s Powers of Search and Seizure](https://aluko-oyebode.com/insights/a-review-of-the-nigeria-customs-services-powers-of-search-and-seizure/): The Customs and Excise Management Act Cap. C45 LFN 2004 (CEMA) is the principal legislation guiding the administration of customs and excise in Nigeria. The CEMA makes provisions regulating the importation and exportation of goods in Nigeria. Section 3 of the CEMA provides for the Customs and Excise Management Board (“the Board”) which is established - [Aluko & Oyebode admits Imaobong Haastrup into the Firm's Partnership](https://aluko-oyebode.com/insights/aluko-oyebode-admits-imaobong-haastrup-into-the-firms-partnership/): The Partners of Aluko & Oyebode are pleased to announce the admission of Imaobong Haastrup into the Firm’s Partnership. Prior to this elevation, Imaobong was a Managing Associate in the Firm’s Dispute Resolution Practice. She joined Aluko & Oyebode in 2011 and specialises in commercial litigation and arbitration with a focus on Oil & Gas - [Aluko & Oyebode Advises Guaranty Trust Bank Plc on its Restructuring into a Financial Holding Company through a Scheme of Arrangement Between the Bank and The Holders Of Its Fully Paid Ordinary Shares Of 50 Kobo Each](https://aluko-oyebode.com/insights/aluko-oyebode-advises-guaranty-trust-bank-plc-on-its-restructuring-into-a-financial-holding-company-through-a-scheme-of-arrangement-between-the-bank-and-the-holders-of-its-fully-paid-ordinary-shares/): Aluko & Oyebode is pleased to have advised Guaranty Trust Bank Plc (the “Bank”) in connection with the restructuring of the Bank through a Scheme of Arrangement into a new non-operating financial holding company, Guaranty Trust Holdings Plc (the “Holdco”) becoming the ultimate listed parent entity of the Bank and its subsidiaries (“Scheme”). Against the - [Aluko & Oyebode’s Arbitration Practice is Recognised among the Best Arbitration Practices Worldwide By Global Arbitration Review](https://aluko-oyebode.com/insights/aluko-oyebodes-arbitration-practice-is-recognised-among-the-best-arbitration-practices-worldwide-by-global-arbitration-review/): Aluko & Oyebode has been listed among the world’s top international arbitration law firms in Global Arbitration Review’s GAR 100 (14th Edition), the authoritative global independent researches of the best law firms specialising in international arbitration. GAR is the leading global resource on international arbitration news and community intelligence. Now in its 14th edition, the - [The Nigeria Chapter in the 7th edition of The Lending and Finance Secured Review](https://aluko-oyebode.com/insights/the-nigeria-chapter-in-the-7th-edition-of-the-lending-and-finance-secured-review/): Over the past two years, as Nigeria grapples with the economic challenges arising from the global recession of 2018 and the covid-19 pandemic, Nigeria’s fiscal and monetary regulators have sought to deploy a number of economic and regulatory tools or interventions with the objective of stabilising the economy, facilitating and improving access of the real - [Growing Opportunities for the Construction Industry in Africa](https://aluko-oyebode.com/insights/growing-opportunities-for-the-construction-industry-in-africa/): In April 2021, Africa Construction Law, in collaboration with some of the leading law firms in the African construction law space (including Hogan Lovells and Aluko & Oyebode), organised a week-long programme which brought together experts and stakeholders from across the globe, to discuss the opportunities, challenges and areas for growth within the construction industry - [The Federal High Court Decision on the Appropriate Tax Authority to Collect Value Added Tax and Related Taxes: Our view](https://aluko-oyebode.com/insights/the-federal-high-court-decision-on-the-appropriate-tax-authority-to-collect-value-added-tax-and-related-taxes-our-view/): On Monday, 9 August 2021, the Federal High Court (FHC), Port Harcourt Division, declared that the Rivers State Government (and not the Federal Inland Revenue Services (FIRS)) is empowered to collect Valued Added Tax (VAT) and Personal Income Tax (PIT) in the State (the “Rivers State VAT Decision”). Background of the Case The Attorney-General of - [Aluko & Oyebode advises Alithiea IDF on its investment in ReelFruit’s US$3 Million Series A Funding](https://aluko-oyebode.com/insights/aluko-oyebode-advises-alithiea-idf-on-its-investment-in-reelfruits-us3-million-series-a-funding/): Aluko & Oyebode (the “Firm”) is pleased to have advised Alitheia IDF on its investment in the US$3million Series A funding round by ReelFruit, a fast-growing brand involved in the manufacturing and distribution of processed dried fruits and beverage products. Under the investment round, Alitheia IDF led other investors with an investment of US$2million. The - [Analysis of the New Rules & Regulations of the Securities and Exchange Commission on Mergers, Takeovers, and Acquisitions: A New Dispensation for Public Companies](https://aluko-oyebode.com/insights/sec-new-regulations-mta/): The Securities and Exchange Commission (“SEC” or the “Commission”) on 30 August 2021 introduced new rules to the provisions on mergers, takeovers, and acquisitions (the “New Rules”), amending the provisions of the SEC Rules and Regulations 2013 (as amended) (the “SEC Rules”). The New Rules contain provisions pertaining to certain forms of business divestitures such - [Additional Tier-1 Instruments Under the Basel III Framework and New CBN Guidelines on Regulatory Capital](https://aluko-oyebode.com/insights/additional-tier-1-instruments-under-the-basel-iii-framework-and-new-cbn-guidelines-on-regulatory-capital/): Corporate organisations typically require capital on a recurring basis for the purpose of financing their business objectives and projects, and one of the ways by which such organisations raise funding is through the issuance of financial instruments. Companies may choose, subject to applicable laws and regulations, to issue equity instruments (e.g., shares and stocks), debt - [Aluko & Oyebode advises on the Listing of NGX Group on the Main Board of Nigerian Exchange Limited (“NGX”)](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-the-listing-of-ngx-group-on-the-main-board-of-nigerian-exchange-limited-ngx/): Aluko & Oyebode is delighted to have acted as sole legal adviser to Nigerian Exchange Group Plc (“NGX Group”) in connection with the landmark listing by introduction of its 1,964,115,918 ordinary shares on the Main Board of Nigerian Exchange Limited (the “Listing”). The Listing was effected after due compliance with the listing requirements of NGX - [Aluko & Oyebode advises MTN Nigeria Communications Plc on its ₦89,999,000,000.00 Series II Bond Issuance](https://aluko-oyebode.com/insights/aluko-oyebode-advises-mtn-nigeria-communications-plc-on-its-₦89999000000-00-series-ii-bond-issuance/): Aluko & Oyebode (the “Firm”) is pleased to have advised MTN Nigeria Communications Plc (“MTN Nigeria”) as Solicitor to the Issue, in connection with the successful issuance of its ₦89,999,000,000.00 Series II 10-year 12.75% fixed rate Bonds, due 2031 (the “Issuance”). The Issuance is the second bond issuance by MTN Nigeria under its ₦200,000,000,000.00 Bond - [Aluko & Oyebode advises on Ardova Plc’s Establishment of ₦60Billion Bond Issuance Programme and ₦25.3Billion Series I Bond Issuance](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-ardova-plcs-establishment-of-₦60billion-bond-issuance-programme-and-₦25-3billion-series-i-bond-issuance/): Aluko & Oyebode (the “Firm”) is pleased to have acted as Solicitors to the Trustees in connection with Ardova Plc’s establishment of a ₦60Billion Bond Issuance Programme (the “Programme”) and the issuance of ₦25.3Billion Series I (Tranches A and B) Bonds under the Programme (the “Issuance”). The Issuance marks the largest Naira-denominated bond issuance from - [Aluko & Oyebode advises Access Bank Plc on its US$500 Million Eurobond Issuance with Record Oversubscription](https://aluko-oyebode.com/insights/aluko-oyebode-advises-access-bank-plc-on-its-us500-million-eurobond-issuance-with-record-oversubscription/): Aluko & Oyebode (the "Firm") is pleased to have advised Access Bank Plc (the "Bank"), Nigeria's largest bank by asset size with operations spanning 12 countries, in connection with its successful issuance of US$500 million 6.125 percent Rule144A/Regulation S Senior Unsecured Eurobond Notes due 2026 which have been admitted to trading on the London Stock - [The Nigeria Chapter: Chambers Project Finance 2021 Global Practice Guide](https://aluko-oyebode.com/insights/the-nigeria-chapter-chambers-project-finance-2021-global-practice-guide/): 1. Project Finance Panorama 1.1 Sponsors and Lenders The main trends that have influenced the project finance market in Nigeria in the last 12 months are not unconnected to the need to bridge the infrastructure deficit in Nigeria. The absence of capital from the government and the need to bridge the existing deficit in infrastructure - [Aluko & Oyebode Advises on the First Basel III Compliant, Additional Tier 1 Eurobond Issuance by a Nigerian Bank](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-the-first-basel-iii-compliant-additional-tier-1-eurobond-issuance-by-a-nigerian-bank/): Aluko & Oyebode (the "Firm") is delighted to have advised Access Bank Plc (the "Bank") in connection with its successful issuance of US$500 million Basel III compliant Perpetual Non-Call (9.125% Rule144A/Regulation S) Additional Tier 1 Eurobond Notes (the "AT1 Issuance"), which have been admitted to trading on the International Securities Market of the London Stock - [Proper Interpretation of the Oil Pipelines Act on Payment of Compensation to Victims of Oil Pipelines Operations in Nigeria](https://aluko-oyebode.com/insights/proper-interpretation-of-the-oil-pipelines-act-on-payment-of-compensation-to-victims-of-oil-pipelines-operations-in-nigeria/): There has been a lingering debate in both legal and academic circles as to the proper interpretation of the compensation provisions of the Oil Pipelines Act (hereafter referred to as “the OPA”) since the Nigerian Court of Appeal issued its famous decision in NAOC v. Ogbu. Whilst several commentators argue that the decision was reached - [Understanding SUKUK – Series 1](https://aluko-oyebode.com/insights/understanding-sukuk-series-1/): Introduction The international and domestic capital markets, in exploring various forms of funding options, over the years have facilitated the prominence of ethical-based debt financing. In recent times, the government and corporate entities within Nigeria are increasingly accessing the capital markets to attract funding from investors inclined to a peculiar form of ethical-based debt instruments - [Implications of the expiration of the Companies Income Tax (Exemption of Bonds and Short-Term Government Securities) Order 2011](https://aluko-oyebode.com/insights/implications-of-the-expiration-of-the-companies-income-tax-exemption-of-bonds-and-short-term-government-securities-order-2011/): Introduction In 2011, the Federal Government of Nigeria issued the Companies Income Tax (Exemption of Bonds and Short-Term Government Securities) Order (the “CIT Exemption Order”) which commenced on 2 January 2012, to encourage investments in the Nigerian debt capital markets. The following securities were exempted from companies income tax under the CIT Exemption Order: Short - [The Guide to Investment Treaty Protection and Enforcement (First Edition)](https://aluko-oyebode.com/insights/the-guide-to-investment-treaty-protection-and-enforcement-first-edition/): Our Partner, Tunde Fagbohunlu, SAN has co-authored a chapter on "Substantive Protections: Obligations" in the first edition of Global Arbitration Review's The Guide to Investment Treaty Protection and Enforcement. This chapter discusses three distinct substantive protections: umbrella clauses, transfer of funds clauses and prohibitions of performance requirements. For each substantive protection, he provides an overview - [The Construction Disputes Law Review (Nigeria Chapter)](https://aluko-oyebode.com/insights/the-construction-disputes-law-review-nigeria-chapter/): Disputes in the Nigerian construction industry are driven primarily by political, commercial, project delivery, claims-related and legal risks. Commercial, project and legal risks could be the result of lack of regulatory expertise; ambiguity in contractual requirements; poorly defined project scope; improper risk allocation matrix; combative contracting culture; lack of sophistication of the project team; border - [Aluko & Oyebode advises Guaranty Trust Holding Company Plc on its 100% Acquisition of Investment One Funds Management Limited and Investment One Pension Mangers Limited](https://aluko-oyebode.com/insights/aluko-oyebode-advises-guaranty-trust-holding-company-plc-on-its-100-acquisition-of-investment-one-funds-management-limited-and-investment-one-pension-mangers-limited/): Aluko & Oyebode (the “Firm”) is pleased to have advised Guaranty Trust Holding Company Plc (“GTCo”) on the acquisition of the entire shares of Investment One Funds Management Limited (“IOFM”) and Investment One Pension Mangers Limited (“IOPM”), the mutual fund and pension subsidiaries of Investment One Financial Services Limited, respectively. The effect of this acquisition - [Aluko & Oyebode advises Pan African Towers on the Establishment of its ₦50 Billion Bonds Issuance Programme and the Issuance of ₦10 Billion Series I Senior Guaranteed Fixed Rate Infrastructure Bonds](https://aluko-oyebode.com/insights/aluko-oyebode-advises-pan-african-towers-₦50billion-bonds-issuance/): Aluko & Oyebode is pleased to have advised Pan African Towers Limited (“Pan African Towers”) through its special purpose vehicle, PAT Digital Infra Fund SPV Plc, as Solicitor to the Issuer, on the establishment of a ₦50 Billion Bonds Issuance Programme (the “Programme”) and the successful issuance of ₦10 Billion Series I Senior Guaranteed Fixed Rate Infrastructure - [Intellectual Property Newsletter Volume 1 2022](https://aluko-oyebode.com/insights/intellectual-property-newsletter-volume-1-2022/): We bring you our first quarter Intellectual Property Newsletter Volume 1 for 2022. Activities at the Regulatory Agencies The Nigeria Centre for Disease Control (NCDC) continues to adopt international best practices and COVID-19 guidelines to protect Nigerian residents. The general public has been advised to adhere to the COVID-19 measures issued by the government such - [An Analysis of the Insurance Web Aggregators Operational Guidelines, 2022](https://aluko-oyebode.com/insights/an-analysis-of-the-insurance-web-aggregators-operational-guidelines-2022/): Introduction The Insurance Web Aggregators Operational Guidelines (the “Guidelines”) was recently issued by the National Insurance Commission (NAICOM) (the “Commission”) and took effect from 1 February 2022. All insurance companies and web aggregators operating under any agreement of a business relation whether called a “Web Aggregation” business or otherwise, are expected to comply with the - [Uche Nwokocha named as Intellectual Property leader in the elite WIPR Leaders 2022](https://aluko-oyebode.com/insights/uche-nwokocha-named-as-ip-leader-in-the-elite-wipr-leaders-2022/): We are delighted to announce that our Partner, Uche Nwokocha has been selected as an outstanding Intellectual Property practitioner in the elite World IP Review Leaders 2022. WIPR Leaders, published by World IP Review, is a comprehensive guide to the top intellectual property lawyers practicing in the areas of patents and trademarks across the globe. - [Cancellation of Unissued Share Capital of Companies](https://aluko-oyebode.com/insights/cancellation-of-unissued-share-capital-of-companies/): Pursuant to the Companies and Allied Matters Act (“CAMA”) 2020, the requirement for companies to have an ‘authorized share capital’ has been replaced with ‘minimum issued share capital’ principle. Section 124 of CAMA 2020 which replaces section 99 of CAMA 2004 provides that no company shall have a share capital which is less than its - [Aluko & Oyebode Advises Access Bank Plc on its Restructuring into a Financial Holding Company](https://aluko-oyebode.com/insights/aluko-oyebode-advises-access-bank-plc-on-its-restructuring-into-a-financial-holding-company/): Aluko & Oyebode is delighted to have advised Access Bank Plc (“Access Bank” or “Bank”), one of Africa's largest retail banks, on its restructuring into a non-operating financial holding company. The restructuring, which has culminated in Access Holdings Plc (“Access HoldCo”) becoming the listed parent entity of Access Bank, its subsidiaries and related group companies - [Central Clearing Counterparties in the Nigerian Financial Markets](https://aluko-oyebode.com/insights/central-clearing-counterparties-in-the-nigerian-financial-markets/): Historically, central clearing counterparties ("CCPs") have played a critical role in global financial markets. They have, however, become even more critical in financial markets, with clearing now globally accepted as an effective risk management mechanism. To illustrate, in response to the global financial crisis in 2009, G20 leaders committed to reforming the overall structure of - [Aluko & Oyebode advises on the Establishment of a ₦200 Billion Bond Issuance Programme and ₦40 Billion Series I (Tranche A and B) Bond Issuance by The Company for Habitat and Housing in Africa (Shelter Afrique)](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-the-establishment-of-a-₦200-billion-bond-issuance-programme-and-₦40-billion-series-i-tranche-a-and-b-bond-issuance-by-the-company-for-habitat-and-housing-i/): Aluko & Oyebode (the “Firm”) is pleased to have acted as Solicitors to The Company for Habitat and Housing in Africa (“Shelter Afrique”) in connection with Shelter Afrique’s establishment of a ₦200 Billion Bond Issuance Programme (the “Programme”) and the issuance of ₦40 Billion Series I (Tranches A and B) Bonds under the Programme (the - [Political Donations by Corporates in Nigeria](https://aluko-oyebode.com/insights/political-donations-by-corporates-in-nigeria/): In this article, we examine the current position of the Nigerian law on the subject of political donations by corporates. We will attempt a comparative analysis with other jurisdictions such as the United States, the United Kingdom, and India and make some recommendations on how political donations can be regulated in Nigeria. With the 2023 - [Aluko & Oyebode advises Access Bank Plc on its First US Dollar Denominated Green Bond Issuance](https://aluko-oyebode.com/insights/aluko-oyebode-advises-access-bank-plc-on-its-first-us-dollar-denominated-green-bond-issuance/): Aluko & Oyebode (the “Firm”) is delighted to have advised Access Bank Plc (the “Bank”), Nigeria's largest bank by asset size (with a presence in 17 countries), in connection with its issuance of a US$50 Million Regulation S 5-year Senior Unsecured Step-Up Puttable Green Bond due 2027 (the “Bond”). The Bond, which is the Bank’s - [Assent of New Laws on Anti-Money Laundering/ Combatting of Financing of Terrorism in Nigeria](https://aluko-oyebode.com/insights/assent-of-new-laws-on-anti-money-laundering-combatting-of-financing-of-terrorism-in-nigeria/): On 12 May 2022, the President of the Federal Republic of Nigeria, Muhammadu Buhari as part of the efforts to strengthen the AML/CFT regime in Nigeria signed into law the following Bills; (i) Money Laundering (Prevention and Prohibition) Bill, 2022 (ii) Terrorism (Prevention and Prohibition) Bill, 2022 (iii) Proceeds of Crime (Recovery and Management) Bill, - [Nigeria Discontinues Uniform Withholding Tax Rates of 7.5% Applicable to Double Taxation Agreements](https://aluko-oyebode.com/insights/nigeria-discontinues-uniform-withholding-tax-rates-of-7-5-applicable-to-double-taxation-agreements/): The Federal Inland Revenue Service (“FIRS”) on 11 May 2022 issued a circular titled “Information Circular on the Claim of Tax Treaties Benefits and Commonwealth Tax Relief in Nigeria”. Sequel to the circular, a public notice on the application of withholding tax (“WHT”) on dividends, interests, and royalties paid by Nigerian residents to recipients who - [The Federal High Court of Nigeria Rules on the Implementation of the Amendment to the 6th Edition of the Nigeria Broadcasting Code](https://aluko-oyebode.com/insights/the-federal-high-court-of-nigeria-rules-on-the-implementation-of-the-amendment-to-the-6th-edition-of-the-nigeria-broadcasting-code/): The Federal High Court of Nigeria has ruled on the amendment to the 6th Edition of the Nigeria Broadcasting Code (the “Code”). By way of background, the National Broadcasting Commission (the “Commission”) issued an amendment to the Code in March 2020, which made the following significant changes to the broadcasting ecosystem: Wholesale offer, which essentially - [Garnishee Proceedings in Nigeria: The Need for Reform](https://aluko-oyebode.com/insights/garnishee-proceedings-in-nigeria-the-need-for-reform/): Introduction In the Nigerian judicial system, garnishee proceedings are a commonly used means of executing monetary judgments. The process is governed primarily by the Sheriffs and Civil Process Act[1] (“SCPA”) and involves applying to the court for an order, commonly known as a garnishee order absolute, attaching the money of a judgment debtor in the - [Updated Individual Licence Application Requirements](https://aluko-oyebode.com/insights/updated-individual-licence-application-requirements/): The Nigerian Communications Commission (the “NCC”) released updated requirements for Individual Licence applications. What is an Individual License and who can apply for it? Individual Licences are licenses issued by the NCC to conduct specified telecommunications activities. The licencing terms include conditions that regulate the licensees and their activities. Some of the services and activities - [Changes to AVTS and VAS Application Requirements](https://aluko-oyebode.com/insights/changes-to-avts-and-vas-application-requirements/): As part of the updates and changes to the NCC requirements for an Individual License, the NCC updated the requirements for application for an Individual License to operate Automated Vehicle Tracking Service (AVTS) and VAS (Content Service using Short Code). AVTS applicants and VAS (Content Service using Short Code) applicants must, in addition to the - [Aluko & Oyebode Advises Dot on its Acquisition of a Majority Stake in Royal Exchange Healthcare Limited](https://aluko-oyebode.com/insights/ayodeji-oyetunde-3/): Aluko & Oyebode (the "Firm") is pleased to have advised Dot Ensure Limited (and its affiliates) ("Dot") on its acquisition of a majority stake in Royal Exchange Healthcare Limited ("REHL" or the "Company"), a national health maintenance organisation duly registered under the National Health Insurance Scheme. The transaction was structured to advance consideration to the - [NCC Approved and Published Updated Requirements for Individual Licence Application.](https://aluko-oyebode.com/insights/ncc-approved-and-published-updated-requirements-for-individual-licence-application/): Introduction On 6 June 2022, the Nigerian Communications Commission (the “NCC”) released an updated requirements for Individual Licence application. The NCC has approved the additional requirements in furtherance of its mandate as enshrined in the Nigerian Communications Act (“NCA”) 2003. While some of the requirements remain the same, some additions and amendments are noticeable. ReadMore - [The Nigerian National Petroleum Company Limited – “Privatising” the NNPC](https://aluko-oyebode.com/insights/the-nigerian-national-petroleum-company-limited-privatising-the-nnpc/): On Tuesday, 19 July 2022, the President unveiled the Nigerian National Petroleum Company Limited (“NNPC Ltd”); the new limited liability company which has replaced the erstwhile Nigeria National Petroleum Corporation (NNPC), the national oil corporation of the Federal Republic of Nigeria. NNPC Ltd was incorporated in September 2021 in furtherance to the Petroleum Industry Act - [The Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending 2022](https://aluko-oyebode.com/insights/digital-lending-2022-framework/): Introduction The Federal Competition and Consumer Protection Commission (the “Commission”) has released the Limited Interim Regulatory/Registration Framework and Guidelines (the “Guidelines”) for Digital Lending 2022. This is stated to be in exercise of the powers conferred upon it by sections 17, 18 and 163 of the Federal Competition and Consumer Protection Act, 2018. The Guidelines - [Aluko & Oyebode advises Health54 in connection with a US$3 million pre-series A investment in Lifestores Healthcare Holdings Limited](https://aluko-oyebode.com/insights/health54-us3-million-pre-series-a-investment/): Aluko & Oyebode (the "Firm") is pleased to have advised Health54, the healthcare-focused corporate venture capital arm of CFAO Group, in connection with a US$3 million pre-Series A funding round in Lifestores Healthcare Holdings Limited ("Lifestores" or the "Company"), a Nigerian healthtech startup. The round, which was significantly oversubscribed, was led by Health54, with the - [New Capital Requirements for Foreign Investors in Nigeria](https://aluko-oyebode.com/insights/minimum-share-capital-requirement/): The Immigration Act, 2015, makes it mandatory for every company with foreign equity participation to obtain a business permit from the Minister of Interior before it commences business in Nigeria. This applies to a company that is wholly owned by foreigners or a joint venture company between locals and foreign partners irrespective of the percentage - [Coming Soon – The National Data Protection Adequacy Programme (The NADPAP) Whitelist: The NDPB Issues a Compliance Notice](https://aluko-oyebode.com/insights/the-nadpap-whitelist/): The National Data Protection Adequacy Programme (the “NADPAP”) Whitelist is expected to be issued by the Nigeria Data Protection Bureau (the “NDPB”) in the last quarter of 2022 or first quarter of 2023. The NDPB is the Nigerian agency responsible for data protection and privacy in Nigeria. The NDPB earlier this month issued a compliance - [Commentary on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)](https://aluko-oyebode.com/insights/nmdpra/): The Nigerian Midstream and Downstream Petroleum Regulatory Authority (“NMDPRA” or “the Authority”) was established by the recently enacted Petroleum Industry Act (“PIA” or “the Act”) 2021, the first major update of the legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry in decades. This article focuses on the Authority, which is responsible for - [PENCOM Guidelines on Accessing RSA Balance for Residential Mortgage](https://aluko-oyebode.com/insights/pencom-guidelines-on-accessing-rsa-balance-for-residential-mortgage/): PENCOM Guidelines on Accessing RSA Balance for Residential Mortgage - [The Nigerian Communication Commission Publishes the Draft Information Memorandum for the Auction of 2 x 100MHz in the 3.5GHz Spectrum Band.](https://aluko-oyebode.com/insights/ncc-draft-information-memorandum/): The Nigerian Communications Commission (NCC) has published the Draft Information Memorandum (IM) for its upcoming auction of the remaining lots of 2 x 100MHz in the 3.5GHz spectrum band to support 5G deployment in Nigeria. To support the attainment of its objective of reliable communications services and innovative digital technologies, the draft IM provides much needed guidance - [Key Regulators in the Nigerian FinTech Sector](https://aluko-oyebode.com/insights/key-regulators-in-the-nigerian-fintech-sector/): Founders and investors looking to create solutions or invest within the financial technology (FinTech) sector in Nigeria would need to embrace its regulatory landscape. This is the first of a series highlighting key regulators of the FinTech sector in Nigeria. Central Bank of Nigeria The Central Bank of Nigeria (the "CBN") is the lead regulator - [Tax Implications of the Nigeria Startup Act 2022](https://aluko-oyebode.com/insights/tax-implications-of-the-nigeria-startup-act-2022/): Introduction On 19th October 2022, Nigeria took a significant step in its quest to encourage the economic growth of startups with the assent of the Startup Bill by President Muhammadu Buhari. The Nigeria Startup Act [the Act] brings with it key provisions to encourage financial investments in startups. Our focus will be on the tax - [The Nigeria Startup Act 2022](https://aluko-oyebode.com/insights/the-nigeria-startup-act-2022/): The recent enactment of the Nigeria Startup Act ("Startup Act") has introduced a new regulatory framework for startups in Nigeria. The Startup Act is expected to drive growth in Nigeria’s tech industry, and its proper implementation will contribute to the development of an enabling environment for startups to thrive. Here are four provisions in the - [Partner Mark Mordi, SAN contributes to WIPO-ARIPO-USDOJ Africa Regional Benchbook](https://aluko-oyebode.com/insights/partner-mark-mordi-san-africa-intellectual-property-ip-bench-book/): Our Partner Mark Mordi (SAN) is a member of the Working Committee for the WIPO-ARIPO-USDOJ Africa Regional Benchbook that just concluded a 4-day meeting in Geneva, Switzerland that took place from the 14th of November to the 18th of November 2022. The Africa Intellectual Property (IP) bench book is being facilitated by the World Intellectual - [Aluko & Oyebode advises Access Bank Plc on its Divestment from Access Pension Custodian Limited ](https://aluko-oyebode.com/insights/aluko-oyebode-advises-access-bank-plc-on-its-divestment-from-access-pension-custodian-limited/): Aluko & Oyebode (the “Firm”) is pleased to have advised Access Bank Plc (“Access Bank”) on the divestment of its entire equity stake in Access Pension Custodian Limited to First Pension Custodian Nigeria Limited, a subsidiary of First Bank of Nigeria Limited (the “Transaction”). The Transaction which received relevant regulatory approvals marked the divestment of - [Aluko & Oyebode advises Access Holdings Plc on its Indirect Acquisition of Sigma Pensions Limited and Subsequent Merger of Sigma Pensions Limited and First Guarantee Pension Limited for the Creation of Access Pensions Limited  ](https://aluko-oyebode.com/insights/aluko-oyebode-advises-access-holdings-plc-on-its-indirect-acquisition-of-sigma-pensions-limited-and-subsequent-merger-of-sigma-pensions-limited-and-first-guarantee-pension-limited-for-the-creation-o/): Aluko & Oyebode (the “Firm”) is pleased to have advised Access Holdings Plc (“Access Corporation”) on its acquisition of an indirect equity stake in Sigma Pensions Limited from Actis Golf B.V., and the subsequent merger of Sigma Pensions Limited and First Guarantee Pension Limited (“FGPL”), a subsidiary of Access Corporation (the “Transaction”). Following the completion - [The Central Bank of Nigeria (CBN) Calls for Applications for Participation in Its Regulatory Sandbox](https://aluko-oyebode.com/insights/central-bank-of-nigeria-calls-for-applications-regulatory-sandbox/): The Central Bank of Nigeria (CBN) Calls for Applications for Participation in Its Regulatory Sandbox - Download PDF Here. The Central Bank of Nigeria (the “CBN”) on Monday, 12 December 2022 issued an invitation to participants in the financial system to submit expressions of interest to participate in its Regulatory Sandbox (“the Sandbox”). It - [Analysis of the Nigeria Startup Act 2022](https://aluko-oyebode.com/insights/analysis-of-the-nigeria-startup-act-2022/): The Nigeria Startup Act 2022 (the “Act”) introduces a new regulatory framework for startups in Nigeria. Its implementation is expected to drive growth in Nigeria’s tech industry and contribute to the development of an enabling environment for startups. The Act contains various provisions ranging from the introduction of a labelling requirement for eligible startups, to - [The Nigerian Upstream Petroleum Development Commission Holds A Pre-Bid Conference For The 2022/2023 Mini Bid Round](https://aluko-oyebode.com/insights/the-nigerian-upstream-petroleum-development-commission-holds-a-pre-bid-conference-for-the-2022-2023-mini-bid-round/): Introduction The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) held a Pre-Bid Conference on 16 January 2023 to clarify modalities for the 2022/2023 Mini Bid Round (MBR) which was announced on 20 December 2022. The NUPRC has put on offer a total of seven (7) offshore blocks (PPL 300-DO, PPL 301-DO, PPL 302-DO, PPL 303-DO, PPL - [An Analysis of the Guidelines on Contract Staffing by Financial Institutions in Nigeria](https://aluko-oyebode.com/insights/an-analysis-of-the-guidelines-on-contract-staffing-by-financial-institutions-in-nigeria/): Introduction The Federal Ministry of Labour and Employment (the “Ministry”) has released the Guidelines on Labour Administration Issues in Contract Staffing/Outsourcing Non-Permanent Workers in Banks, Insurance and Financial Institutions (the “Guidelines”) effective 8 September 2022. The Guidelines seeks to set the basic terms and conditions to be observed by financial institutions and insurance companies in - [Cross Rivers State Government calls for Expression of Interest for the concession of various State-owned Industries and Assets](https://aluko-oyebode.com/insights/cross-rivers-government-calls-for-expression-of-interest-assets/): The Cross Rivers State government, in collaboration with the Cross River State Ministry of Industries, the State’s Public Private Partnership Council and the Bureau of Public Private Partnership has announced the call for expression of interest from investors for the concession of some of the state-owned key industries and assets. The submission deadline has been - [Aluko & Oyebode Advises Access Holdco Plc And Access Bank Plc In Connection With An Unsecured Financing Of Up To Us$300 Million From Afrexim Bank And The Issuance Of Mandatory Convertible Notes](https://aluko-oyebode.com/insights/access-holdings-plc-and-afrexim-us300-million-facility/): Aluko & Oyebode is pleased to have advised Access Holdings PLC (“Access HoldCo”) and Access Bank Plc (“Access Bank”) in connection with an unsecured facility of up to US$300 million obtained from the African Export-Import Bank (“AFREXIM”). The facility amount is to be invested by Access HoldCo into its banking subsidiary – Access Bank Plc, - [Constitutional Reforms in Railway and Power: Opportunities and Implications for Investors](https://aluko-oyebode.com/insights/constitutional-reforms-in-railway-and-powe-investors/): The President of the Federal Republic of Nigeria recently assented to sixteen (16) Constitution Alteration Bills, some of which have decentralised certain critical sectors of the economy previously controlled by the Federal Government. Notable sectors of the economy affected by the amendments are railway and electricity. We have provided commentaries on the implications of the - [Aluko & Oyebode advises Acumen in connection with its investment into CropSafe Agro Services Limited](https://aluko-oyebode.com/insights/aluko-oyebode-advises-acumen-cropsafe-agro-services-limited/): Aluko & Oyebode (the “Firm”) is pleased to have advised Acumen Fund Inc. (“Acumen”), a non-profit impact investment fund focused on investing in social enterprises servicing low-income individuals and communities, on its strategic investment into CropSafe Agro Services Limited (“CropSafe”), a high-impact agricultural social enterprise whose innovative grain-drying method is supporting smallholder farmers across Nigeria - [Additional Tier 1 Bonds: The Credit Suisse Situation and Lessons for Nigeria](https://aluko-oyebode.com/insights/additional-tier-1-bonds-the-credit-suisse-situation/): On 19 March 2023, the two (2) largest banks in Switzerland, Credit Suisse Group AG ("Credit Suisse") and UBS Group AG ("UBS"), entered into a merger agreement (the "Merger") further to the intervention of the Swiss Federal Department of Finance, the Swiss National Bank (the "SNB"), and the Swiss Financial Market Supervisory Authority ("FINMA"). As - [Key Highlights of the Copyright Act 2022](https://aluko-oyebode.com/insights/key-highlights-of-the-copyright-act-2022/): On Friday, March 17th, 2023, the President of the Federal Republic of Nigeria signed the Copyright repeal and re-enactment Bill (the "Bill"), which is now the Copyright Act, 2022 (the "Act"). The Act contains ample and innovative provisions that address modern-day realities, technological advancements, and international best practices, including the need to ensure Nigeria's compliance - [Regulatory Update | May 2023](https://aluko-oyebode.com/insights/regulatory-update-may-2023/): Aluko & Oyebode Regulatory Update CBN REGULATORY UPDATES CBN Releases Guidelines For The Regulation Of Representative Offices Of Foreign Banks In Nigeria CBN Releases Circular On The Accreditation Of Cheque Printers CBN Asserts That Bvn Issued In Nigeria Has No Expiry Date CBN Releases Statement On The Operating Guidelines For Rt200 Non-Oil Export Proceeds Repatriation - [NCC Releases New Updates on its Frequency Assignment Tables](https://aluko-oyebode.com/insights/nnc-frequency-assignment-tables/): The Nigerian Communications Commission (NCC) recently released and published an updated list of licensees who have been assigned frequency slots in the 2.1, 2.3, 2.6 and 3.5 gigahertz (GHZ) spectrum bands across various states in the country. Most notable among the spectrum band is the 3.5GHZ which has been assigned to MTN Nigeria Communications Plc, - [“Work of ART” or “Tool for the ARTful Dodger”? The Award Review Tribunal mechanism in the Arbitration & Mediation Act 2023](https://aluko-oyebode.com/insights/work-of-art-or-tool-for-the-artful-dodger-the-award-review-tribunal-mechanism-in-the-arbitration-mediation-act-2023/): “Work of ART” or “Tool for the ARTful Dodger”? The Award Review Tribunal mechanism in the Arbitration & Mediation Act 2023 - [Introducing the Nigeria Data Protection Act 2023](https://aluko-oyebode.com/insights/nigeria-data-protection-act-2023-ndpa/): On Monday 12th of June 2023, President Bola Ahmed Tinubu assented to the passage of the Nigeria Data Protection Bill into law. The draft Data Protecti on Bill was introduced by the National Data Protection Bureau (“NDPB”) on the 4th of October 2022 and was approved by the Federal Executive Council in February 2023. The - [What is ESG?](https://aluko-oyebode.com/insights/what-is-esg/): What is ESG? The acronym ESG stands for Environmental, Social and Governance. It is a set of principles that guide a company’s strategy, operations and activities and guides the assessment of its impact on the environment, customers, stakeholders and the wider society. The concept of “ESG” emerged from an initiative led by the United Nations - [Privacy Please – An Overview of the Nigeria Data Protection Act 2023](https://aluko-oyebode.com/insights/privacy-please-an-overview-of-the-nigeria-data-protection-act-2023/): The Nigeria Data Protection Act 2023 (the “Act”) is the first major federal legislative instrument for the processing and protection of personal data in Nigeria and supersedes any other law or enactment that relates directly or indirectly to the processing of personal data. For a better understanding of the Act, we have prepared an overview - [Privacy Please – New Categorization of Data Controller/Processor and Duty to Register as A Data Controller and Processor](https://aluko-oyebode.com/insights/nigeria-data-protection-act-data-controller-processor/): As highlighted in our publication - An Overview of the Nigeria Data Protection Act 2023, one of the key provisions of the Nigeria Data Protection Act (“NDPA” or “Act”) is the introduction of a new classification of data controllers and processors i.e., “Data Controllers and Data Processors of major importance” ("DCPMI”) and the compulsory registration - [Commentary on the Assignment or Transfer of Licence and Permit Regulations, 2023](https://aluko-oyebode.com/insights/nigeria-midstream-and-downstream-petroleum-regulatory-authority-2023/): Introduction The Petroleum Industry Act (PIA) empowers the Nigerian Midstream and Downstream Petroleum Regulatory Authority (the “Authority” / ”NMDPRA”) to issue licenses and permits for the transportation and storage of crude oil (midstream), and the conversion of crude oil into finished products (downstream)[1] to licence or permit holders (Regulated Entity(ies)) in the Nigerian oil and - [Privacy Please – Cross Border Transfer Of Personal Data](https://aluko-oyebode.com/insights/cross-border-transfer-of-personal-data-in-nigeria/): Introduction Cross border transfer of personal data simply means the sharing of personal data from one national jurisdiction to another. The expansion of the internet in the 21st century means that a number of international organizations can share all sorts of information including personal data seamlessly across various countries. The protection of personal data that will - [Disclosure Obligations in Respect of Persons with Significant Control](https://aluko-oyebode.com/insights/disclosure-obligations-in-respect-of-persons-with-significant-control/): The concept of disclosure of Beneficial Ownership (“BO”) or Persons with Significant Control ("PSC”) of companies in Nigeria started gaining prominence over a decade ago in the drive to implement the Financial Action Task Force (FATF) recommendations on money laundering and financing of terrorism and further to Nigeria’s subscription to the membership of the Extractive - [Commentary on the Presidential Directive on Delineation of Regulatory Oversight between NUPRC and NMDPRA pending Amendment of Petroleum Industry Act 2021](https://aluko-oyebode.com/insights/directive-on-nuprc-nmdpra-regulatory-oversight/): The President of the Federal Republic of Nigeria has issued a directive on the delineation of regulatory oversight between the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in relation to the regulation of terminal operations and the export of crude oil pursuant to sections 7(ee) and - [Invitation For Prequalification: Federal Government Of Nigeria Through the Rural Electrification Agency invites Solar PV Mini-Grid Developers to Prequalify for the $5.91 Million Africa Mini-grids Program Funded By The Global Environment Facility (GEF)](https://aluko-oyebode.com/insights/nigeria-solar-pv-mini-grid-developers-prequalification/): The Federal Government of Nigeria (FGN) through the Rural Electrification Agency (REA) has invited interested Solar PV Mini-Grid developers to participate in the Africa Mini-grids Program (AMP) aimed at supporting access to clean energy by increasing financial viability and promoting scaled-up commercial investment in low-carbon mini-grids. The AMP which is active in 21 African countries - [Privacy Please – Third Party Data Processing Agreements and Notification Requirements – Series 5](https://aluko-oyebode.com/insights/privacy-please-third-party-data-processing-agreements-and-notification-requirements-series-5/): Over the course of a business arrangement, organizations often need to share and transfer data to various third parties in order to carry out the transaction. Almost every business relies on third parties to process personal data. However, the transfer of personal data to a third-party may expose such data to certain privacy risks. The - [Migration E-Registration Platform by Nigerian Immigration Service (NIS)](https://aluko-oyebode.com/insights/nis-migration-e-registration-platform/): The Nigerian Immigration Service (NIS) has mandated the registration of all migrants who have lived in or plan to remain in Nigeria for over 90 days on a new Migration e-Registration Platform (the “Platform”). Expatriates are required to provide evidence of registration on the Platform before applying for any immigration permits such as CERPAC, resident - [Privacy Please – Indirect Collection of Data](https://aluko-oyebode.com/insights/privacy-please-indirect-collection-of-data/): Business organizations often find themselves in situations where they may need to collect personal data beyond that of a data subject. A common example is where a data subject is filling out a form and an employer requires the data subject to provide the name, phone number, address, and other contact details of their next - [Highlights of the Evidence (Amendment) Act 2023](https://aluko-oyebode.com/insights/highlights-of-the-evidence-amendment-act-2023/): Introduction On 12 June 2023, the President of the Federal Republic of Nigeria signed the Evidence (Amendment) Act 2023 (the “Act/Amendment”) into law. It is important to note that the Amendment does not repeal the Evidence Act 2011 (the “2011 Act”) and is intended to reflect technological advancements in evidence-taking, particularly in court proceedings. This - [Tortious Claims Conundrum; The Nigerian Court of Appeal Pronouncements on the Jurisdiction of the National Industrial Court of Nigeria](https://aluko-oyebode.com/insights/nicn-jurisdiction-over-tortious-claims/): The Third Alteration to the 1999 Constitution of the Federal Republic of Nigeria, elevated the status of the National Industrial Court of Nigeria (NICN) to that of a superior court of record and conferred it with exclusive jurisdiction over labour, employment, and industrial relation matters. The jurisdiction of the NICN is expressly set out in - [Privacy Please – Digital Age of Consent for Children – Series 6](https://aluko-oyebode.com/insights/child-data-protection-in-nigeria/): Introduction The pervasiveness and the allure of the internet continues to hold sway and wax stronger amongst different age groups, more so with the younger generation. A huge outcome of this, is the readiness of a number of users in sharing their personal data on various platforms. One of the rising challenges amidst all this, - [Notaries Public Act, 2023: New Provisions Anticipated to Enhance Access to Notarial Services](https://aluko-oyebode.com/insights/notaries-public-act-2023/): A Notary Public in Nigeria is authorised to carry out certain official acts including attesting to or certifying the authenticity of a deed or other legal documents such as birth certificates, school certificates, biodata pages of international passports, marriage certificates, etc. He also carries out the functions of administering oaths and witnessing the execution of - [Aluko & Oyebode advises GuarantCo](https://aluko-oyebode.com/insights/aluko-oyebode-advises-guarantco/): Aluko & Oyebode advises GuarantCo in connection with the provision of an excess of loss guarantee with a maximum counter-guaranteed amount of NGN 20.23 billion (USD 25 million) to InfraCredit. Aluko & Oyebode (the “Firm”) is pleased to have advised GuarantCo; part of the Private Infrastructure Development Group (PIDG), in connection with the provision of - [Aluko & Oyebode advises Edo State Government in connection with the passage of the Edo State College of Health Sciences And Technology Law 2023](https://aluko-oyebode.com/insights/aluko-oyebode-advises-edo-state-government-health-sciences-and-technology-law/): Aluko & Oyebode advises Edo State Government in connection with the passage of the Edo State College of Health Sciences And Technology Law 2023 Aluko & Oyebode (the “Firm”) is pleased to have acted as legal counsel to Edo State Government in connection with the drafting of the recently enacted Edo State College of Health, - [NDPC Releases a Guidance Notice on Filing of Compliance Audit Returns](https://aluko-oyebode.com/insights/ndpc-releases-a-guidance-notice-on-filing-of-compliance-audit-returns/): The Nigeria Data Protection Commission (NDPC) has recently published a Guidance Notice on the filing of Data Protection Compliance Audit Returns (CAR). In view of the new cycle of CAR filing, which will commence in 2024, the guidance notice provides Data Controllers and Data Processors with the opportunity to demonstrate accountability and also comply with - [Update on the Implementation of N100 Million Minimum Share Capital Requirement for Companies with Foreign Participation](https://aluko-oyebode.com/insights/update-on-the-implementation-of-n100-million-minimum-share-capital-requirement-for-companies-with-foreign-participation/): In our October 2022 News Flash, we examined the provisions of the Revised Handbook on Expatriate Quota Administration 2022, released by the Ministry of Interior (MoI). This Handbook stipulates a requirement for companies with foreign shareholders in Nigeria to maintain a minimum paid-up capital of N100,000,000 (One Hundred Million Naira). The Corporate Affairs Commission (CAC) - [Regulatory Alert: Directive to Disconnect Switching Companies, Payment Solution Service Providers, and Super Agents from NIBSS Instant Payment (NIP) Outwards System](https://aluko-oyebode.com/insights/regulatory-alert-directive-to-disconnect-switching-companies-payment-solution-service-providers-and-super-agents-from-nibss-instant-payment-nip-outwards-system/): On 5 December 2023, the Nigerian Inter-Bank Settlement System PLC (“NIBSS”) issued a notice directing all deposit money banks, merchant banks, payment service banks, microfinance banks, mortgage banks, and mobile money operators (“MMOs”) to delist non-deposit-taking financial institutions (“NDFIs”) such as switching and processing companies, Payment Solution Service Providers (“PSSPs”), and Super Agents (“SAs”) as - [Establishment of the Startup Support and Engagement Portal pursuant to the Nigeria Startup Act](https://aluko-oyebode.com/insights/establishment-of-the-startup-support-and-engagement-portal-pursuant-to-the-nigeria-startup-act/): On 19 October 2022, former president Muhammadu Buhari signed the Nigeria Startup Act (the "Act") into law. Prior to this, the country had no specific, encompassing startup legislation. The Act creates a foundational legal and institutional framework for supporting startups in Nigeria. One of the provisions of the Act is the introduction of a startup - [Proactive Compliance: Navigating Regulatory Transitions for Business Sustainability](https://aluko-oyebode.com/insights/proactive-compliance-navigating-regulatory-transitions-for-business-sustainability/): Introduction New leadership and the regulatory changes they bring can have a profound impact on the landscape of business operations[1]. Following the swearing in of President Bola Ahmed Tinubu on May 29, 2023, businesses have found themselves in a sprint to navigate new realities and find ways to adapt to new rules, policies and laws - [Guidelines on the Operations of Bank Accounts for Virtual Assets Service Providers](https://aluko-oyebode.com/insights/guidelines-on-the-operations-of-bank-accounts-for-virtual-assets-service-providers/): On 22 December 2023, the Central Bank of Nigeria ("CBN") issued the Guidelines on the Operation of Bank Accounts for Virtual Assets Service Providers (the "Guidelines"). In issuing the Guidelines, the CBN has lifted its restrictions on banks and other financial institutions from operating accounts for cryptocurrency transactions. Before the issuance of the Guidelines, Virtual - [Why You Need to File Annual Returns for Active And Dormant Companies Before 1 April 2024](https://aluko-oyebode.com/insights/penalty-for-not-filing-annual-returns-nigeria/): The Corporate Affairs Commission (“Commission”) had issued a public notice stating that from 1 January 2024, the full penalties prescribed in the Companies and Allied Matters Act, 2020 and the Companies Regulations 2021 will be enforced for late filing of annual returns. However, the Commission has extended the deadline to April 1, 2024. The Companies - [An Overview of the Trading and Settlement of Derivative Contracts in Nigeria](https://aluko-oyebode.com/insights/an-overview-of-the-trading-and-settlement-of-derivative-contracts-in-nigeria/): Among other things, the derivatives market is essentially about mitigating financial market risk, and derivative contracts are the financial instruments used for that purpose. A derivative contract derives its value or price from an underlying asset such as currency, commodities, stocks, or bonds. Derivative contracts provide opportunities for financial market participants to capture value from - [Update on Public Interest Entities under the Financial Reporting Council Of Nigeria (Amendment) Act, 2023](https://aluko-oyebode.com/insights/frcn-amendment-act-2023-expanded-definition-of-public-interest-entities/): The Financial Reporting Council of Nigeria (Amendment) Act 2023 (the “Amendment Act”) made several changes to the Financial Reporting Council of Nigeria Act 2011. A key amendment is the expansion of the definition of Public Interest Entities (“PIE”). The PIE was previously defined to include governments, government organizations, quoted and unquoted companies, and any organizations - [Directive to Disconnect Switching Companies, PSSPs, and SAs from NIP Outwards System](https://aluko-oyebode.com/insights/directive-to-disconnect-switching-companies-pssps-and-sas-from-nip-outwards-system/): On 5 December 2023, the Nigerian Inter-Bank Settlement System (NIBSS) issued a notice directing all deposit money banks, merchant banks, payment service banks, microfinance banks, mortgage banks, and mobile money operators (MMOs) to delist non-deposit-taking financial institutions (NDFIs) such as switching and processing companies, Payment Solution Service Providers (PSSPs), and Super Agents (SAs) as beneficiary - [Revised Levies and Sanctions for Non-Compliance with the Financial Reporting Council of Nigeria (Amendment) Act, 2023](https://aluko-oyebode.com/insights/frc-nigeria-amendment-dues-sanctions-2023/): Understand new annual dues and penalties for professionals, firms, and entities under the 2023 FRC Nigeria Amendment Act. Avoid late fees and non-compliance with this guide. - [CBN Issues Circular on Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks](https://aluko-oyebode.com/insights/cbn-issues-circular-on-harmonisation-of-reporting-requirements-on-foreign-currency-exposures-of-banks/): The Central Bank of Nigeria (the “CBN”) on 31 January 2024 issued a circular titled the “Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks” (the “Circular”), which it stated is aimed at managing risks and preventing potential losses that could pose significant challenges to the Nigerian financial system. The Circular comes as the - [Powering Nigeria: A Recap of Recent Developments in the Electric Power Sector as 2024 Commences with a Flurry of Regulatory Interventions and Proposed Power Asset Sales](https://aluko-oyebode.com/insights/developments-regulatory-changes-nigeria-electricity-sector-2024/): The year 2023 recorded significant legal milestones in the Nigerian Electric Supply Industry (NESI) owing to an amendment to the Constitution that allows states to establish electricity markets within the states and the enactment of the Electricity Act, 2023 (the “Electricity Act” or “the Act”). The Electricity Act repealed the Electric Power Sector Reform Act, - [CBN Issues New Guidelines On International Money Transfer Services In Nigeria](https://aluko-oyebode.com/insights/cbn-issues-new-guidelines-on-international-money-transfer-services/): The Central Bank of Nigeria ("CBN") on 31 January 2024 issued two (2) policies that pertain to foreign exchange remittances - the Guidelines for the Operation of International Money Transfer Services in Nigeria (the "IMTO Guidelines") and the circular on the Removal of Allowable Limit of Exchange Rate Quoted by the International Money Transfer Operators - [Fintech M&A in Nigeria: Key Considerations and Projections](https://aluko-oyebode.com/insights/fintech-ma-in-nigeria-key-considerations-and-projections/): Introduction Nigeria's financial technology (fintech) industry has experienced unprecedented growth over the last decade, and this has transformed the country's financial landscape. The fintech industry offers innovative solutions by facilitating financial payments, access to credits and consumer financing solutions, flexible savings, and investment products. A sizeable youth population, increased smartphone penetration, and regulatory developments have - [Intellectual Property Newsletter Volume 1, 2024](https://aluko-oyebode.com/insights/intellectual-property-newsletter-volume-1-2024/): We bring you our first quarterly Intellectual Property (IP) Newsletter, Volume 1, 2024. As we navigate the dynamic landscape of IP, this newsletter serves as a guide to keep you informed of the latest IP related developments and trends in Nigeria. Activities at the Regulatory Agencies Trade Marks Registry The Nigeria Institute of Advanced Legal - [Aluko & Oyebode Advises on the Debut Commercial Paper Issuance by ThriveAgric Limited](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-the-debut-commercial-paper-issuance-by-thriveagric-limited/): Lagos, Nigeria — Aluko & Oyebode (the “Firm”) is pleased to have advised on the establishment of the debut N50,000,000,000 (Fifty Billion Naira) Commercial Paper Issuance Programme by ThriveAgric Limited (the “Issuer”) and the successful issuance of a N5,000,000,000 (Five Billion Naira) Series 1 (Tranches A & B) Commercial Paper under the Programme (the “Issuance”). The - [Guidelines for Grant of Attorney-General’s Consent to Incorporate a Not-For-Profit in Nigeria](https://aluko-oyebode.com/insights/guidelines-for-grant-of-attorney-generals-consent/): Under Nigerian law, the limited by guarantee (“Ltd/Gte”) entity is incorporated for not-for-profit activities which may include commerce, art, science, religion, sports, culture, education, research, charity or other similar objects. The consent of the Attorney-General of the Federation ("AG") is required for the incorporation of a Ltd/Gte.[1] The application for the AG’s consent is processed - [CBN Revised Guidelines for International Money Transfer Services in Nigeria](https://aluko-oyebode.com/insights/cbn-revised-guidelines-for-international-money-transfer-services-in-nigeria/): The Central Bank of Nigeria (“CBN”) on 31 January 2024 released the revised Guidelines for International Money Transfer Services in Nigeria (the ‘’Guidelines’’) which effectively repealed the previous guidelines issued in 2014 (the “2014 Guidelines”). The Guidelines were issued in light of the recent reforms to liberalise the foreign exchange market, and with the aim - [NUPRC Moves to Enforce Domestic Crude Supply Obligations of Lessees and Licensees in the Nigerian Upstream Petroleum Industry](https://aluko-oyebode.com/insights/nuprc-crude-supply-obligations-of-lessees-and-licensees/): Introduction The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has communicated its resolve to enforce the domestic crude oil supply obligations to ensure adequate supply of crude oil to domestic refineries. This was revealed at a stakeholders’ meeting between NUPRC and oil producers on November 2023. NUPRC enjoined the crude oil producers to provide the details - [Securities And Exchange Commission Calls For Applications For Its Regulatory Incubation Program](https://aluko-oyebode.com/insights/securities-and-exchange-commission-calls-for-applications-for-its-regulatory-incubation-program/): The Securities and Exchange Commission (the "SEC" or the "Commission") has announced the launch of applications for the second cohort of its Regulatory Incubation Program ("RI Program"). The Commission noted that applications will remain open till 8 April 2024. The RI Program was launched by the Commission in 2021 to address the needs of new - [CBN Issues Directives on Foreign Currency Cash Pooling by Banks on Behalf of IOCs in Nigeria](https://aluko-oyebode.com/insights/cbn-issues-directives-on-foreign-currency-cash-pooling-by-banks/): The Central Bank of Nigeria (the “CBN”) in a circular dated 14 February 2024, issued directives to all Authorised Dealers on the requirements for foreign currency cash pooling on behalf of International Oil Companies (“IOCs”) in Nigeria (the “Circular”). The CBN noted that the practice of transferring proceeds of crude oil exports by IOCs operating - [Nigeria Data Protection Commission Releases Guidance Notice on the Registration of Data Controllers and Processors of Major Importance](https://aluko-oyebode.com/insights/nigeria-data-protection-commission-releases-guidance-notice-on-the-registration-of-data-controllers-and-processors-of-major-importance/): The Nigeria Data Protection Commission (“the Commission”) on 14 February 2024, issued a Guidance Notice on the Registration of Data Controllers and Processors of Major Importance (the “Guidance Notice”) pursuant to provisions of the Nigeria Data Protection Act 2023 (“NDPA”), Section 5(d) which empowers the Commission to register Data Controllers[1] and Data Processors[2] of Major - [Implementation of N100 Million Minimum Share Capital Requirement for Companies with Foreign Participation](https://aluko-oyebode.com/insights/implementation-of-n100-million-minimum-capital-requirement-with-foreig/): In our regulatory alert of 8 December 2023, we discussed the notice issued by the CAC on 5 December 2023 which was reversed by the subsequent notice issued by the CAC on 8 December 2023. Thus, the CAC directive for foreign owned companies to have N100m shares which must be fully paid up, failing - [Federal High Court affirms the power of the NMDPRA to impose statutory levies on import of petroleum products in Nigeria](https://aluko-oyebode.com/insights/federal-high-court-affirms-the-power-of-the-nmdpra-to-impose-statutory-levies/): The Federal High Court (the "Court") has affirmed the powers of the Nigerian Midstream and Downstream Petroleum Regulatory Authority ("NMDPRA") to impose and collect levies on petroleum products and natural gas sold in Nigeria. This was contained in a judgment delivered on 5 February 2024 by Justice Inyang Ekwo of the Abuja division of the - [Update On The Implementation Of The Expatriate Employment Levy](https://aluko-oyebode.com/insights/update-on-the-implementation-of-the-expatriate-employment-levy/): Further to the recent release of the handbook on expatriate employment levy (the “Levy”) 2024 (the “Handbook”), the Federal Ministry of Interior (“the Ministry”) has now announced that the effective date for the implementation of the Levy is 15 March 2024. Companies subject to the Levy may, however, begin the registration of their expatriate employees - [CBN Exposure Draft on Revised Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria](https://aluko-oyebode.com/insights/cbn-exposure-draft-onbureau-de-change-operations-in-nigeria/): The Central Bank of Nigeria (“CBN”) on 23 February 2024 released an exposure draft of the Revised Regulatory and Supervisory Guidelines for Bureau De Change Operations (“BDCs”) in Nigeria (the ‘’Draft Guidelines’’). The Draft Guidelines seek to amend the extant guidelines for BDCs in Nigeria made in 2015 (the “2015 Guidelines”). The Draft Guidelines form - [Suspension of the Implementation of the Expatriate Employment Levy](https://aluko-oyebode.com/insights/suspension-of-the-expatriate-employment-levy/): The Federal Ministry of Interior (“FMoI”) has announced the suspension of the implementation of the expatriate employment levy (the “Levy”). The FMoI, in its announcement, stated that the implementation of the Levy has been suspended pending further consultation with stakeholders. The FMoI had earlier announced that the implementation of the Levy would commence on 15th - [So What if Nigerian Courts Set Aside Foreign Arbitral Awards? The Limak Decision in Perspective](https://aluko-oyebode.com/insights/limak-case-nigerian-courts-set-aside-foreign-arbitral-awards/): So What if Nigerian Courts Set Aside Foreign Arbitral Awards? Revisiting Limak V Sahelian Energy. In December 2021 the Nigerian Court of Appeal pronounced in Limak v Sahelian Energy that Nigerian courts may set aside foreign arbitral awards. This has caused a stir among Nigeria’s multinational investors and in legal circles. Investors and businesspeople would naturally be worried that arbitral awards obtained by them in foreign neutral seats may be nullified by Nigerian courts. In this article, we conclude that the Limak decision is not as significant as it seems at face value. - [Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines 2024](https://aluko-oyebode.com/insights/nigeria-oil-gas-contracting-reform/): The Nigerian President issued a directive on February 28, 2024, aimed at speeding up contract approvals and reducing costs in the oil and gas industry. This includes raising financial approval thresholds, implementing single-level approvals, and setting time limits for processing applications. Learn more about the implications for businesses. - [ARCON to Publish Register of Licensed Advertising Professionals in Nigeria](https://aluko-oyebode.com/insights/arcon-to-publish-register-of-advertising-practitioners-and-agencies/): The Advertising Regulatory Council of Nigeria (“ARCON" or “the Council”) recently issued a notice informing advertising practitioners and corporate organisations engaged in advertising, advertisement and marketing communications business in Nigeria that the Council is in the process of issuing a Register of Advertising Practitioners and Advertisement Agencies. This requirement is in accordance with section 22(1)(5) - [Nigerian Communications Commission Publishes Draft Telecommunications Networks Interconnection Regulations, Guidelines on Procedure for Granting Approval to Disconnect Telecommunication Operators and Guidelines on Dispute Resolution](https://aluko-oyebode.com/insights/ncc-guidelines-approval-to-telecom-operators/): Introduction: The Nigerian Communications Commission (NCC) in exercise of its functions under the Nigerian Communications Act has published three draft regulations and guidelines for stakeholders comments. The draft documents seek to amend and repeal the existing regulations and guidelines. The draft regulatory documents include: 1. Telecommunications Network Interconnection Regulations (as amended) 2024, 2. Guidelines on - [Aluko & Oyebode Announces All-Female Leadership Team](https://aluko-oyebode.com/insights/aluko-oyebode-leadership-transition-2025/): Lagos, Nigeria – 1 August 2025 – Aluko & Oyebode, Nigeria’s leading full-service law firm, announces key leadership changes that underscore its deep bench of legal talent and continued commitment to excellence. After four transformative years, Kofo Dosekun has stepped down as the firm’s first female Chairman. She played a foundational role in building and - [Nigeria Launches 2024 Licensing Round for 17 Oil Blocks](https://aluko-oyebode.com/insights/nigeria-launches-2024-licensing-round-for-17-oil-blocks/): Background The Petroleum Industry Act 2021 (“PIA”) empowers the Nigerian Upstream Regulatory Commission (“NUPRC”) to conduct bid rounds for the award of petroleum prospecting licences. In 2022, the NUPRC initiated the 2022 Mini-Bid Round for seven deep offshore blocks namely PPL 300-DO, PPL 301-DO, PPL 302-DO, PPL 303-DO, PPL 304-DO, PPL 305-DO, PPL 306-DO. However, - [Legacy and Estate Planning: Creating Generational Wealth](https://aluko-oyebode.com/insights/legacy-and-estate-planning-creating-generational-wealth/): The perception that only wealthy individuals, with vast assets, should plan their legacies is misconceived. Regardless of wealth, the preservation and transfer of assets, values and legacies to future generations has made legacy planning crucial. Legacy planning transcends estate planning - which primarily focuses on asset distribution. Legacy planning encompasses a comprehensive approach that involves - [CBN Clarification on the Circular on Cash Pooling of Repatriated Oil and Gas Export Proceeds by International Oil Companies  ](https://aluko-oyebode.com/insights/cbn-clarification-cash-pooling-of-repatriated-ioc/): The Central Bank of Nigeria (“CBN”) on 6 May 2024 published a circular to all Authorised Dealer Banks (the “May Circular”) clarifying its earlier directive on cash pooling of repatriated oil and gas export proceeds by international oil companies (“IOCs”) in a circular published on 14 February 2024 (the “February Circular”) reported in our earlier - [Highlight of NUPRC 2024 Licencing Round Guidelines](https://aluko-oyebode.com/insights/highlight-of-nuprc-2024-licencing-round-guidelines/): the Nigeria Upstream Regulatory Commission (“NUPRC”) has launched the 2024 Licencing Round Portal for 12 new oil blocks. The portal which can be accessed at https://br2024.nuprc.gov.ng/ contains a bid package that includes the Petroleum Industry Act 2021 (“PIA”), the Petroleum Licencing Round Regulations 2022, the Licencing Round Guidelines 2024 (the “Guidelines”), the Model Concession Contract between the NUPRC and successful bidders, pre-qualification requirements, and criteria for bid evaluation. - [Taking Security in Africa | Co-authored with Latham & Watkins](https://aluko-oyebode.com/insights/taking-security-in-africa/): We are pleased to announce that our firm, ALN Nigeria | Aluko & Oyebode, collaborated with the international law firm Latham & Watkins on their recent publication, "Taking Security in Africa." Our Chairman, Kofo Dosekun, Partner, Oludare Senbore and Senior Associate, Onyinyechi Iwuoha, provided valuable insights for the Nigeria section of this comprehensive guide. The - [The Introduction of Merger/Acquisition on the CAC Platform](https://aluko-oyebode.com/insights/merger-acquisition-on-the-cac-platform/): The Corporate Affairs Commission (CAC) since the launch of its 24-hour online registration and management platform, has constantly introduced new updates to the platform to provide better services for its customers. One of the recent introductions to the platform is the merger/acquisition link. What this means is that the documentation relating to Merger/Acquisition such as - [New CBN Guidelines on Bureau De Change Operations and Implications for Fintechs](https://aluko-oyebode.com/insights/new-cbn-guidelines-on-bureau-de-change-fintechs/): Introduction The Central Bank of Nigeria (the "CBN") has issued new Regulatory and Supervisory Guidelines for Bureau de Change (BDC) Operations (the "Guidelines"). This follows an exposure draft issued for stakeholder input in February 2024. The Guidelines issued on 22 May 2024 supersede the Revised Operational Guidelines for Bureau de Change in Nigeria issued in - [NMDPRA Reviews Licence Fees](https://aluko-oyebode.com/insights/nmdpra-reviews-licence-fees/): The Nigerian Midstream and Downstream Petroleum Regulatory Authority (“NMDPRA”) has issued draft Midstream and Downstream Petroleum Fees Regulations 2024 (the “Draft Regulations”) for review by industry stakeholders and the public. The Draft Regulations outline the proposed fees payable to the NMDPRA for the grant, reissue or renewal of licences, permits, authorisations and approvals for midstream - [SEC Issues New Framework for Virtual Asset Service Providers and other Digital Investment Service Providers](https://aluko-oyebode.com/insights/sec-arip-framework-digital-asset-providers-nigeria/): The Securities and Exchange Commission (“SEC” or the “Commission”) has released a pre-licensing framework for fintechs that operate in the digital assets and investment space. The Commission on 21 June 2024 issued A Framework on Accelerated Regulatory Incubation Program (ARIP) for the Onboarding of Virtual Assets Service Providers (VASPs) and other Digital Investments Service Providers (DISPs) - [ALN Nigeria | Aluko & Oyebode Advises Diageo Plc on the Sale of its Equity Stake in Guinness Nigeria Plc and Long-term Partnership with the Tolaram Group](https://aluko-oyebode.com/insights/aln-nigeria-aluko-oyebode-advises-diageo-plc-on-the-sale-of-its-equity-stake-in-guinness-nigeria-plc-and-long-term-partnership-with-the-tolaram-group/): ALN Nigeria | Aluko & Oyebode (the "Firm") is delighted to be advising Diageo Plc ("Diageo") on the sale of its 58.02% equity stake in Guinness Nigeria Plc ("Guinness"), an NGX-listed company, to the Tolaram Group, and its entry into new long-term licence and royalty agreements with Guinness (the "Transaction"). Diageo is a prominent beverage - [World Whistleblowers Day 2024: A Nigerian Reflection](https://aluko-oyebode.com/insights/world-whistleblowers-day-2024-a-nigerian-reflection/): Established by the United Nations in 2019 and celebrated yearly on the 23rd day of June, World Whistleblowers Day aims to highlight the importance of whistleblowers and celebrate the role they play in exposing wrongdoing and in upholding accountability and integrity in organisations. Whistleblowing is the act of disclosing information that exposes wrongdoing, improper or - [Lagos State Issues Executive Order Mandating All Residents and Workers to Register for the Social Health Insurance Scheme](https://aluko-oyebode.com/insights/mandatory-health-insurance-lagos/): Lagos State now requires social health insurance for all residents and workers! This legal alert explains the new law, how to register, and how it impacts residents, employers, and healthcare providers. Learn more about Lagos State's Social Health Insurance Scheme and how to comply. (Contact: businessadvisory@aluko-oyebode.com) - [Nigerian Communications Commission Issues Guidance on the Simplification of Tariffs to Telecommunications Operators](https://aluko-oyebode.com/insights/nigerian-communications-commission-issues-guidance-on-the-simplification-of-tariffs/): Introduction: The Nigerian Communications Commission (NCC) on the 29th of July 2024 issued a Guidance on the Simplification of Tariffs in the Nigerian Communications Sector (the “Guidance”) to (a) simplify tariff plans and bundles, (b) ensure promotional elements of tariff plans are transparent and fair, (c) improve consumer understanding and (d) foster fair competition amongst - [NUPRC Seeks to Amend the Production Curtailment and Domestic Crude Supply Obligation Regulations 2023](https://aluko-oyebode.com/insights/nuprc-proposed-amendments-2024/): The Nigerian Upstream Petroleum Regulatory Commission (the “Commission”) released the Production Curtailment and Domestic Crude Oil Supply Obligations (the “Regulations”) in 2023 pursuant to section 8 (c) and section 109 of the Petroleum Industry Act 2021 (the “Act”). The Regulations are generally aimed at ensuring that licensees and lessees meet the production quotas set by - [Reimagining Africa’s Digital Future: A Strategic Approach to Cybersecurity](https://aluko-oyebode.com/insights/august-aln-africa-bullatin/): Africa’s burgeoning digital economy is full of growth opportunities as global businesses and investors continue to explore its digital landscape. With this upward trajectory, various stakeholders across the continent are focusing more on cybersecurity to reduce incidents and address vulnerabilities. According to a report by Kearney titled Cybersecurity in Africa – A Call to Action, - [Construction and Engineering Law 2024 – Nigerian Chapter](https://aluko-oyebode.com/insights/construction-and-engineering-law-2024-nigerian-chapter/): We are pleased to share that our Senior Partner, Tunde Fagbohunlu, SAN, and Partner, Ngo-Martins Okonmah FCIArb, along with Senior Associates, Joy Mgbado and Ife Omotola, have contributed the Nigerian chapter to the 11th edition of Construction and Engineering Law 2024. Our team provided valuable insights on key legal and commercial issues pertaining to construction - [CBN Issues New Directives to Payment Service Providers on Routing POS Transactions](https://aluko-oyebode.com/insights/cbn-issues-new-directives-to-payment-service-providers-on-routing-pos-transactions/): On Wednesday, 11 September 2024, the Central Bank of Nigeria (CBN) issued a new circular to Payment Service Providers (PSPs) directing them to comply with updated guidelines on routing Point of Sale (POS) transactions. The directive comes on the back of the CBN’s issuance of a Payment Terminal Service Aggregator (PTSA) to Unified Payment Services - [The Attorney-Client Privilege: An Untouchable in the Fight Against Corruption? A Commentary on the Judgment of the Federal High Court in Suit No. FHC/ABJ/CS/25/2023 – Abu Arome v. Central Bank of Nigeria & 3 Others](https://aluko-oyebode.com/insights/the-attorney-client-privilege-an-untouchable-in-the-fight-against-corruption-a-commentary-on-the-judgment-of-the-federal-high-court-in-suit-no-fhc-abj-cs-25-2023-abu-arome-v-central-bank/): It has been said that the crimes of money laundering and terrorism financing can lead to instability which can in turn weaken law and order, governance, regulatory effectiveness, foreign investments, and international capital inflow in the countries in which they are perpetuated. There is no gainsaying that money laundering and terrorism financing have global consequences - [Validity of Clause Permitting Extension of Probationary Period: Reflections on the Recent Decision of the National Industrial Court of Nigeria in Ann Chiamaka Nwanguma v Artee Industries Ltd & Ors](https://aluko-oyebode.com/insights/validity-of-clause-permitting-extension-of-probationary-period-reflections-on-the-recent-decision-of-the-national-industrial-court-of-nigeria-in-ann-chiamaka-nwanguma-v-artee-industries-ltd-ors/): Since the decision of the Court of Appeal in Obafemi Awolowo University v Onabanjo,[1] the law regarding the status of an employee, whose employment is neither confirmed nor terminated after serving out the probationary period, seems well settled in Nigeria. Such an employee is deemed to have been confirmed by the operation of law based - [CBN Releases Revised Foreign Exchange Market Guidelines: Key Insights and Market Implications](https://aluko-oyebode.com/insights/cbn-foreign-exchange-market-guidelines-2024/): Central Bank of Nigeria issues comprehensive Revised Guidelines for Nigerian Foreign Exchange Market, consolidating regulatory frameworks and enhancing market transparency in 2024. - [Imminent Changes to Nigeria’s Investments and Securities Law](https://aluko-oyebode.com/insights/nigeria-investments-securities-bill-2024-key-provisions/): Background Recently, the Nigerian Senate conducted the third reading of the Investments and Securities Bill 2024 (the “ISB”) following the recommendations of the Committee on Capital Market. This marks a significant milestone in the legislative process and brings the ISB closer to becoming law. The ISB is intended to modernise the country's capital market regulatory - [Petroleum Industry Act: Federal High Court of Nigeria Rules That Host Communities Lack Standing in Operators’ Divestments](https://aluko-oyebode.com/insights/host-communities-rights-petroleum-industry-act/): Introduction The Petroleum Industry Act 2021 (“PIA”), signed into law in August 2021, marked a significant reform of Nigeria’s petroleum sector. Repealing the Petroleum Act of 1969, the PIA introduced a comprehensive legal, governance, regulatory, and fiscal framework for the industry. Notably, the PIA introduced the requirement for specified petroleum industry operators to establish a - [NUPRC Announces 2025 Oil Licensing Round](https://aluko-oyebode.com/insights/nuprc-2025-licensing-round-announcement/): Background The Nigerian Upstream Petroleum Regulatory Commission ("NUPRC") has a mandate to conduct fair, competitive and transparent licensing rounds for petroleum prospecting licences and petroleum mining leases in order to maximise Nigeria’s hydrocarbon resources. In keeping with this mandate, the NUPRC has concluded substantial phases of the 2024 Licensing Round and has just announced a - [African Development Bank Strengthens Commitment to Infrastructure Excellence with Renewal of Agreement to use FIDIC Standard Contracts](https://aluko-oyebode.com/insights/afdb-fidic-contract-agreement-renewal/): The African Development Bank (AfDB) has renewed and expanded its agreement with the International Federation of Consulting Engineers (FIDIC) to employ FIDIC standard contracts in its procurement framework for another five years. Under the agreement, FIDIC has granted AfDB a non-exclusive license to use ten major standard contracts in projects they finance, as well as - [Toward Sustainability: Nigeria’s Advancements in ESG Litigation and Practices](https://aluko-oyebode.com/insights/esg-legal-framework-nigeria/): On 4 December 2024, Joke Aliu, Managing Partner at ALN Nigeria | Aluko & Oyebode, participated as a speaker in the third session of the International Bar Association (IBA) Environmental, Social, and Governance (ESG) Accelerator Training Programme. The session, titled “ESG Litigation and Dispute Resolution Trends,” delved into global and African ESG litigation and dispute - [Unveiling the Spectrum of Protection Under the Nigerian Labour Act](https://aluko-oyebode.com/insights/nigerian-labour-act-worker-definition/): “But the provisions of that section are made applicable only to a 'worker' as defined in section 91(1) of the same Act. 'Worker' is defined in the section as follows: "'Worker' means any person who has entered into or works under a contract with an employer, whether the contract is for manual labour, clerical work - [Q4 2024 Maritime Newsletter](https://aluko-oyebode.com/insights/q4-2024-maritime-newsletter/): We are pleased to present our Q4 2024 Maritime Newsletter, offering key insights into recent developments in the maritime sector. This edition includes: Industry News: Updates from across the sector. Regulatory Focus: A critical analysis of the Admiralty Jurisdiction Rules 2023. Case Reviews: Commentary on significant judgments, including: - MV Samsun v Ibeto Investment Company - [Aluko & Oyebode Advises Guaranty Trust Holding Company Plc on the Listing of Its Shares on the Main Market of the London Stock Exchange and International Capital Raise](https://aluko-oyebode.com/insights/gtco-lse-ngx-dual-listing/): Aluko & Oyebode (the "Firm") is pleased to have acted as Lead Nigerian Counsel to Guaranty Trust Holding Company Plc ("GTCO" or the "Company"), Africa's leading financial services institution, on the successful admission of ordinary shares to the equity shares (international commercial companies secondary listing) category of the Official List of the Financial Conduct Authority, - [Practical Law Global Guide: Enforcement of Judgments: Overview (Nigeria)](https://aluko-oyebode.com/insights/enforcement-of-judgments-overview-nigeria/): ALN Nigeria | Aluko & Oyebode is pleased to present an in-depth publication titled "Enforcement of Judgments: Overview (Nigeria)", featured in the Practical Law Global Guide by Thomson Reuters. This comprehensive overview provides a detailed examination of the enforcement of judgments in Nigeria, addressing domestic and foreign legislative frameworks, procedural rules, recognition and enforcement of - [ALN Nigeria | Aluko & Oyebode Contributes to Practical Law’s “Capital Markets in Nigeria – Regulatory Overview”](https://aluko-oyebode.com/insights/capital-markets-nigeria-regulatory-overview/): ALN Nigeria | Aluko & Oyebode is pleased to announce the contribution of our Senior Partner, Olubunmi Fayokun, alongside Partner Ajibola Asolo, Senior Associate Gregory Yinka-Gregg, and Associate Ofure Odia, to the Thomson Reuters publication, Practical Law: Capital Markets in Nigeria – Regulatory Overview. This comprehensive guide offers a high-level overview of Nigeria’s equity and debt - [NUPRC Issues the Upstream Petroleum Decarbonisation Template](https://aluko-oyebode.com/insights/upstream-petroleum-decarbonisation-template-nigeria/): Pursuant to the Petroleum Industry Act 2021, the Nigerian Petroleum Regulatory Commission (NUPRC) has issued the Upstream Petroleum Decarbonisation Template (UPDT). The UDPT is a regulatory tool for promoting energy sustainability and environmental stewardship in Nigeria’s upstream operations. This is part of Nigeria’s commitment to net zero emissions by 2060 and in line with global - [Megawatts Nigeria Limited v. Registered Trustees of Gbagada Phase 2 Residents’ Association & Others: A Fact-Specific Judgment and Its Limited Precedential Value](https://aluko-oyebode.com/insights/megawatts-nigeria-limited-case-analysis-cda-disputes/): The decision in Megawatts Nigeria Limited v. Registered Trustees of Gbagada Phase 2 Residents’ Association & Others touches on fundamental constitutional issues, such as freedom of association, corporate personality and community governance. While the case has garnered attention for its bold stance against coercive practices by community development associations (CDAs), it is imperative to recognize - [The Right of a Data Subject to Be Forgotten: A Review of the Decision in Olatokun v Polaris Bank Ltd](https://aluko-oyebode.com/insights/tokunbo-olatokun-v-polaris-bank-limited-data-privacy-judgment/): The High Court of Lagos State ruled that Polaris Bank violated the Applicant's privacy rights under the Nigeria Data Protection Act by sending unsolicited emails. This article by Adeolu Idowu and team explores the judgment's implications for data privacy and business compliance. - [Intellectual Property Outlook for 2025: What Nigerian and Global Brand Owners Need to Know](https://aluko-oyebode.com/insights/intellectual-property-outlook-2025-nigeria-global-brands/): Explore key intellectual property trends for 2025. Learn how Nigerian and global brands can navigate IP protection, digital transformation, AI challenges, and regulatory changes to safeguard their assets. - [The Supreme Court Rules, 2024: A Step in the Right Direction? [Part 1]](https://aluko-oyebode.com/insights/supreme-court-rules-2024-reforms-analysis-part-1/): Discover key reforms in the Supreme Court Rules 2024, their impact on litigation, and how they modernize legal procedures in Nigeria. Read part one of our analysis. - [The Supreme Court Rules, 2024: A Step in the Right Direction? [Part 2]](https://aluko-oyebode.com/insights/supreme-court-rules-2024-reforms/): Explore key reforms in the Supreme Court Rules 2024, including appellate procedure, case management, and technological integration. Learn how these changes impact litigants, legal practitioners, and the administration of justice. - [Transitional Period for the Implementation of Order 4, Rule 15 of the Supreme Court Rules, 2024](https://aluko-oyebode.com/insights/supreme-court-rules-2024-transitional-period/): The Chief Justice of Nigeria has approved a transitional period for Order 4, Rule 15 of the Supreme Court Rules 2024, allowing counsel and litigants to regularise pending appeals before the new rule takes full effect on 12 March 2025. Learn more about the implications and deadlines. - [Aluko & Oyebode Contributes to the Inaugural Edition of NDPC’s Journal](https://aluko-oyebode.com/insights/data-breach-management-strategies-ndpc-journal/): Aluko & Oyebode contributes to the inaugural NDPC International Journal of Data Privacy & Protection with an insightful article on data breach management strategies. Discover key considerations for prevention, response, and remediation aligned with legal and best practice standards. Read more. - [Copyright Infringement in Scriptwriting and Merchandise: Copyright Considerations and Understanding the Issues](https://aluko-oyebode.com/insights/copyright-infringement-creative-industry-case-study/): Copyright infringement threatens creativity and economic growth in the entertainment, software, and publishing industries. This article examines a real-life case of a disputed screenplay, its impact on the creative ecosystem, and the legal and ethical implications. Read more. - [The Procedural Implications of Leaders and Company Limited v. Abuja Investment Company Limited in Tenancy Disputes](https://aluko-oyebode.com/insights/court-of-appeal-decision-limitations-originating-summons-tenancy-disputes/): The decision of the Court of Appeal on 29 November 2024 in CA/ABJ/CV/518/2022 - Leaders and Company Limited v. Abuja Investment Company Limited provides an insightful judicial periscope on the limitations of Originating Summons in disputes involving contested facts. The case highlights the risks associated with initiating proceedings through Originating Summons in matters requiring evidential - [Land Excision or Certificate of Occupancy: A Distinction with a Difference](https://aluko-oyebode.com/insights/land-excision-vs-certificate-of-occupancy-nigeria/): A common misconception amongst landowners and real estate practitioners is that land excision and certificate of occupancy are the same. These two (2) concepts are similar because they both relate to title to land and landed properties. However, there are material differences between them. The understanding of these differences is crucial in navigating land transactions - [Lottery and Gaming Regulation: Nigeria Central Gaming Bill](https://aluko-oyebode.com/insights/central-gaming-bill-nigeria-2025/): The gaming sector in Nigeria is undergoing a rapid evolution, marked by contentious sectoral laws and a pressing need for regulatory and legal stability. A significant development in this regard was the Supreme Court nullification of the National Lottery Act 2005 in November 2024. The nullification followed a suit filed in 2008 by Lagos state - [Enugu State Lifts Gaming License Renewal Restrictions and Introduces Other Reforms](https://aluko-oyebode.com/insights/enugu-gaming-reforms-2025/): Discover the latest gaming reforms in Enugu State following the Supreme Court's ruling. Learn about ESGC's new regulatory platform, decentralised oversight, and initiatives to modernise the gaming sector. - [US Executive Order Suspends Enforcement of the Foreign Corrupt Practices Act (FCPA): Implications for Nigeria’s Business Landscape and Anti-Corruption Measures](https://aluko-oyebode.com/insights/fcpa-suspension-nigeria-business-impact/): The suspension of the Foreign Corrupt Practices Act (FCPA), announced by the United States. President, Donald J. Trump, on February 10, 2025, paused FCPA enforcement with the main aim of boosting U.S. business competitiveness abroad. This move has raised concerns in many countries, including Nigeria, where companies have been targets of FCPA enforcement through several - [Commentaries on the Nigeria Data Protection Act Amendment: Social Media Platforms and Data Controllers/Processors Local Office Registration Requirement](https://aluko-oyebode.com/insights/amendment-nigeria-protection-act-2024/): Introduction A Bill titled “A Bill for an Act to Amend the Nigeria Data Protection Act, 2023, LFN, to Mandate the Establishment of Physical Offices within the Territorial Boundaries of the Federal Republic of Nigeria by Social Media Platforms and for Related Matters” (the “Bill”) has successfully passed its first and second reading in the - [What Nigerian Courts Consider as Evidence of Well-Known Marks: A Legal and Analytical Perspective](https://aluko-oyebode.com/insights/well-known-marks-nigeria-legal-framework-trademarks/): This article explores how Nigerian courts determine well-known marks in the absence of clear legal guidelines, examining key criteria such as international sales, local recognition, and global marketing efforts. It also discusses the challenges and recommendations for a more robust trademark protection framework in Nigeria. - [Key Provisions of the Investments and Securities Act 2025: Strengthening Nigeria’s Capital Markets](https://aluko-oyebode.com/insights/isa-2025-nigeria-capital-markets-reforms/): Explore the key provisions of Nigeria's Investments and Securities Act 2024, a landmark legislation enhancing SEC's regulatory powers, bolstering investor protection, and aligning securities laws with global standards. - [Ride-Hailing and Smart Mobility Bill in Nigeria: Highlight of Key Provisions with Commentaries](https://aluko-oyebode.com/insights/ride-hailing-regulation-bill-nigeria/): In a significant move toward national regulation of ride-hailing and digital taxi services in Nigeria, a bill titled “A Bill for an Act to Regulate the Operation of Ride Hailing and Smart Mobility Services in Nigeria by Establishing Licensing Requirements, Safety Standards, Fare Regulations, and Consumer Protections to Ensure the Efficient Operation of Digital Taxi - [Compliance Analysis: Considerations on the Updated Registration of Data Controllers and Processors of Major Importance and All Matters Connected Therewith 2024](https://aluko-oyebode.com/insights/ndpc-updated-guidance-notice-dcpmi-registration/): The Nigeria Data Protection Commission (NDPC), by virtue of its Guidance Notice on Registration of Data Controllers and Processors of Major Importance and All Matters Connected Therewith. NDPC/HQ/GN/.VOL.03/B/24 (the “Updated Guidance Notice”) and the Nigeria Data Protection Act 2023 General Application and Implementation Directive 2025 (GAID), has introduced changes to the Data Controllers and Processors - [Aluko & Oyebode Advises on Public-Private Partnership and Landmark N32.5 Billion Infrastructure Bond Issuance for the Ado-Ekiti Ring Road Project in Ekiti State](https://aluko-oyebode.com/insights/ado-ekiti-ring-road-infrastructure-bond/): Aluko & Oyebode is pleased to have advised the Ekiti State Government (the “State”) and Infrastructure Credit Guarantee Company Limited (“InfraCredit”) in connection with the landmark concession granted to Craneburg EKSG Motorway Company Plc for the development of a 17.85km expressway in Ado Ekiti, Ekiti State (the “Project”). The Project which was structured as a - [The 2025 Collective Management Regulations: A New Framework for Rights Governance in Nigeria](https://aluko-oyebode.com/insights/nigerian-copyright-commission-collective-management-regulations-2025/): The Nigerian Copyright Commission introduces the Collective Management Regulations, 2025, to enhance copyright governance. Learn about the new framework, CMO functions, and rights for creators. - [Nigeria Rolls Out e-Visa and Automated Entry System](https://aluko-oyebode.com/insights/nigeria-e-visa-automated-entry-system-2025/): The Nigeria Immigration Service (NIS) on 2 May 2025, released guidelines for the Implementation of the e-Visa Application System and Automated Landing and Exit Cards (the “Guidelines”). The Guidelines are part of the Federal Government’s ongoing efforts to reform Nigeria's Visa Policy, control the movement of foreigners in and out of Nigeria. As part of - [Federal High Court Clarifies ARCON’s Power to Regulate Influencers, Content Creators, and Social Media Platforms](https://aluko-oyebode.com/insights/arcon-power-to-regulate-social-media-influencers-and-advertising/): The Federal High Court has clarified ARCON's authority to regulate all advertising activities in Nigeria, including those by influencers, content creators, and social media platforms, affirming mandatory content vetting and enforcement processes. - [Frustration in Financial Contracts: A Critical Analysis of the Supreme Court’s Decision in Bank of Agriculture Limited v. Salem Farms Limited](https://aluko-oyebode.com/insights/doctrine-of-frustration-nigerian-loan-contracts-salem-farms-v-boa/): On the 17th of January 2025, the Supreme Court of Nigeria delivered a judgment in the case of Bank of Agriculture Limited v Salem Farms Limited (the “Salem Farms’ case”),[1] that raises significant implications on the application of the common law doctrine of frustration in financial contracts, especially loan agreements. According to the facts of - [Lotteries and Gaming Law and Regulatory Tracker: Nigeria (May 2025)](https://aluko-oyebode.com/insights/insights-nigeria-gaming-regulation-tracker-2025/): The Supreme Court’s landmark decision in AG Lagos State v. AG Federation (2024) has reshaped Nigeria’s gaming regulatory landscape, affirming that states and not the federal government have the authority to regulate gaming within their territories. In response, we have developed the Gaming & Lottery Law and Regulatory Tracker – a comprehensive, state-by-state breakdown of - [LOTTERIES AND GAMING LAW AND REGULATORY TRACKER: FCT Lottery Regulatory Office Commences Oversight and Regulation of Gaming Operations in the FCT](https://aluko-oyebode.com/insights/fct-gaming-regulation-2025-supreme-court-nla-update/): On 14 May 2025, the Federal Capital Territory Administration (FCTA) announced that the FCT Lottery Regulatory Office (FCT-LRO) will commence regulating gaming operations in the FCT. Mr. Lanre Gbajabiamila who was the Director General (DG) of the now-defunct National Lottery Regulatory Commission (NLRC), is now the DG of the FCT-LRO. In announcing the new regulatory - [Nigeria’s Climate Change Fund](https://aluko-oyebode.com/insights/national-climate-change-fund-nigeria-2025/): In April 2025, the National Council of Climate Change (NCCC) announced plans to operationalise the National Climate Change Fund (the ‘’Fund’’) which has remained inactive since it was established under Section 15 of the Climate Change Act 2021. The Fund was created to support climate change mitigation and adaptation efforts across key sectors of the - [Court of Appeal Rules Banks Can Freeze Accounts Without Court Order in Fraud Cases](https://aluko-oyebode.com/insights/kuda-microfinance-bank-account-freezing-decision/): In the landmark decision of Kuda Microfinance Bank Ltd v. Amarachi Kenneth Blessing, CA/EK/48/2024, the Court of Appeal, Ekiti Division, held that banks in Nigeria can lawfully freeze customer accounts without first obtaining a court order, provided there is a report of fraud or suspicious activity, and the customer has agreed to such terms. The - [OPL 245: Victory for Agip at the Court of Appeal](https://aluko-oyebode.com/insights/opl-245-court-of-appeal-decision-nigeria/): We were honoured to represent Nigerian Agip Exploration Limited (NAE) in a significant win before the Court of Appeal in Abuja. On 23 May 2025, the Court of Appeal unanimously dismissed Malabu Oil & Gas Ltd’s claim over Oil Prospecting Licence (OPL) 245, setting aside the 2020 decision of the Federal High Court which had - [NCDMB Issues the Guidelines for Approvals of Nigerian Oil and Gas Industry Contracting Processes](https://aluko-oyebode.com/insights/ncdmb-contracting-guidelines-2024/): Further to the Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines, 2024 and the Presidential Directive on Local Content Compliance Requirements, 2024, the Nigerian Content Monitoring and Development Board (NCDMB) released the Guidelines for NCDMB Approvals of Nigerian Oil and Gas Industry Contracting Processes 2024 (the “Guidelines”) in December 2024. The Guidelines - [Federal Executive Council Approves the National Integrated Electricity Policy](https://aluko-oyebode.com/insights/national-integrated-electricity-policy-nigeria-2025/): The Federal Executive Council has approved Nigeria’s 2025 National Integrated Electricity Policy, setting ambitious goals for universal access, renewable energy, and market reform. - [Maritime Newsletter – Q1, 2025](https://aluko-oyebode.com/insights/nigeria-maritime-sector-update-q1-2025/): Aluko & Oyebode’s Maritime Newsletter for Q1 2025 provides a comprehensive overview of key developments shaping Nigeria’s maritime sector. Highlights include the long-awaited disbursement of the Cabotage Vessel Financing Fund (CVFF), revival of the Olokola Port Project, and Nigeria’s push for shipping decarbonisation and seafarer recognition. The newsletter also covers significant legislative updates, such as proposed - [Punitive Revocation of Title to Land in Nigeria: What You Need to Know](https://aluko-oyebode.com/insights/punitive-revocation-land-title-nigeria/): Explore the legal framework and grounds for punitive revocation of land titles in Nigeria under the Land Use Act of 1978. Understand the conditions, statutory powers, and implications for titleholders. - [Do Stable Coins Qualify as “Securities” Under Nigerian Law?](https://aluko-oyebode.com/insights/do-stable-coins-qualify-as-securities-under-nigerian-law/): Introduction The growth of financial technology has birthed innovative instruments such as stablecoins. These are digital assets designed to mirror the stability of fiat currencies while harnessing blockchain efficiencies. As adoption increases, regulators globally and locally are grappling with their legal classification and supervision. This flash note assesses whether stablecoins qualify as "securities" under Nigerian - [SEC Releases Circulars that Impact the Operations of Capital Market Operators in Nigeria](https://aluko-oyebode.com/insights/sec-nigeria-circular-t2-settlement-unclaimed-dividends-2025/): The Securities and Exchange Commission (the “Commission”) recently issued two circulars that impact the operations and processes of several capital market operators in Nigeria. Moving from T+3 to T+2 in the Nigerian Equities Market The Circular on the Implementation of a New Settlement Cycle for Equities Transactions in the Nigerian Capital Market was issued by - [LOTTERIES AND GAMING LAWS AND REGULATORY TRACKER: The FSGRN Signs a Landmark Unified Subnational Reciprocity Licensing Framework; Grants Fee Waiver to existing NLRC Licensees](https://aluko-oyebode.com/insights/nigeria-subnational-gaming-license-framework-2025/): Introduction In our past publication, we had discussed the impact of the Supreme Court ruling of November 2024, which nullified the National Lotteries Act (NCA), confirmed the authority of state governments to regulate gaming operations, and restricted the erstwhile national authority of National Lottery Regulatory Commission (NLRC). Some of the major industry concerns caused by - [Lotteries and Gaming Law and Regulatory Tracker: Nigeria (June 2025)](https://aluko-oyebode.com/insights/nigeria-gaming-regulatory-tracker-2025/): The Supreme Court’s landmark decision in AG Lagos State v. AG Federation (2024) has reshaped Nigeria’s gaming regulatory landscape, affirming that states and not the federal government have the authority to regulate gaming within their territories. In response, we have developed the Gaming & Lottery Law and Regulatory Tracker – a comprehensive, state-by-state breakdown of - [CBN Issues New Directive on Capital Retention for Banks Under Regulatory Forbearance](https://aluko-oyebode.com/insights/cbn-regulatory-forbearance-directive-2025/): On 13 June 2025, the Central Bank of Nigeria (the “CBN”), as part of its ongoing efforts to enhance the resilience and stability of the Nigerian banking sector, issued a directive targeting banks currently operating under approved regulatory forbearance regimes, specifically in relation to credit exposures and single obligor limits (SOL). Regulatory forbearance refers to - [Exclusive jurisdiction of the High Court over simple contracts: A review of the recent Court of Appeal decision in the case of Central Bank of Nigeria (CBN) v Adani Mega System Ltd](https://aluko-oyebode.com/insights/exclusive-jurisdiction-high-court-simple-contracts-cbn-v-adani/): The civil jurisdiction of the Federal High Court[1] and the High Court[2] are distinctively spelt out under the constitution. Unlike the civil jurisdiction of the High Courts, the civil jurisdiction of the Federal High Court is limited to the matters listed under section 251(1) of the 1999 constitution. Thus, the Supreme Court has held that - [Sumbo Akintola Named Leading Lawyer in Media Law International (MLI) 2025 Rankings](https://aluko-oyebode.com/insights/sumbo-akintola-leading-lawyer-mli-2025/): We are pleased to announce that Sumbo Akintola, Head of our Telecommunications, Media, and Technology (TMT) team has been recognised as a “Leading Lawyer” in the prestigious Media Law International (MLI) Ranking 2025. This esteemed recognition underscores her outstanding contributions, expertise, and leadership in the media law sector in Nigeria. Sumbo’s achievement is a testament to her exceptional - [The Scope of the FIRS’s Power to Impose Withholding Tax on the Undistributed Profits of a Close Company: A Review of the Federal High Court’s Judgment in Rand Merchant Bank of Nigeria Limited v. FIRS](https://aluko-oyebode.com/insights/withholding-tax-undistributed-profits-nigeria-firs-judgment/): In a judgment delivered on 25 February 2025, the Federal High Court allowed an appeal instituted by Aluko & Oyebode on behalf of Rand Merchant Bank of Nigeria Limited (“RMB” or the “Bank”) against a judgment of the Tax Appeal Tribunal (“TAT” or the “Tribunal”) which upheld the Federal Inland Revenue Service (“FIRS”)’s assessment of - [CBN Outlines Regulatory Measures to Support Exit from Forbearance Regime](https://aluko-oyebode.com/insights/cbn-forbearance-regime-exit-measures-2025/): In a letter dated 20 June 2025 and addressed to all banks, the Central Bank of Nigeria (CBN) outlined six transitional measures designed to support affected banks to exit from the regulatory forbearance regime, which was introduced to help banks manage their credit exposures and maintain stability during the COVID-19 pandemic. The measures as outlined - [NUPRC Issues the Upstream Petroleum Fees and Rents (Temporary) Regulations, 2025](https://aluko-oyebode.com/insights/nuprc-issues-the-upstream-petroleum-fees-and-rents-temporary-regulations-2025/): The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), with the approval of the Minister of Petroleum Resources, recently issued the Upstream Petroleum Fees and Rents (Temporary) Regulations, 2025 (the “Regulations”), pursuant to section 216(5) of the Petroleum Industry Act (PIA) 2021 which provides that the NUPRC may in national interest and exigent circumstances, issue a regulation - [Aluko & Oyebode Advises uMunthu Investment Company II on Its US$2 Million Investment in Hinckley eWaste Recycling Company Limited](https://aluko-oyebode.com/insights/umunthu-ii-2m-investment-hinckley-ewaste-recycling-nigeria/): Aluko & Oyebode (the “Firm”) is pleased to have advised uMunthu Investment Company II (“uMunthu II”) on its successful investment in Hinckley Ewaste Recycling Company Limited, an electronic waste recycling company, that provides end-of-life solutions for electrical and electronic equipment (the “Company”). uMunthu II, which is co-managed by Alitheia IDF pioneering private equity fund, specialises - [Intellectual Property (IP) Newsletter (Volume 2) 2025](https://aluko-oyebode.com/insights/intellectual-property-newsletter-nigeria-2025/): Stay updated with our Intellectual Property Newsletter (Vol. 2, 2025), highlighting key developments in Nigeria’s IP landscape, including Trade Mark Journals and the FCCPC’s Digital Traceability Project. - [Between Mineral Rights and Land Tenure: Navigating Land Acquisition in Nigeria’s Oil and Gas Sector](https://aluko-oyebode.com/insights/land-acquisition-in-oil-and-gas-operations-nigeria/): The acquisition of land is an indispensable aspect of oil and gas operations in Nigeria. Although the Federal Government is vested with ownership and control of mineral resources, including oil and gas, under Section 44(3) of the Constitution of the Federal Republic of Nigeria, 1999 as amended (“the Constitution”) and Section 1 of the Petroleum - [SEC Grants Approvals in Principle to Virtual Asset Service Providers in Nigeria](https://aluko-oyebode.com/insights/sec-grants-approvals-in-principle-to-virtual-asset-service-providers/): Introduction The Nigerian virtual asset[1] and cryptocurrency space has been the subject of regulatory scrutiny in recent times. The Securities and Exchange Commission ("SEC" or the "Commission") is keen to ensure the safety of investors in the space, while encouraging innovation. To achieve this objective, the SEC has undertaken a number of actions this year. - [NUPRC Seeks to Amend the Production Curtailment and Domestic Crude Supply Obligation Regulations 2023](https://aluko-oyebode.com/insights/nuprc-seeks-to-amend-the-production-curtailment-and-domestic-crude-supply-obligation-regulations-2023/): The Nigerian Upstream Petroleum Regulatory Commission (the “Commission”) released the Production Curtailment and Domestic Crude Oil Supply Obligations (the “Regulations”) in 2023 pursuant to section 8 (c) and section 109 of the Petroleum Industry Act 2021 (the “Act”). The Regulations are generally aimed at ensuring that licensees and lessees meet the production quotas set by - [An Overview of Deduction of Tax at Source (Withholding) Tax Regulations 2024 and Its Implications on the Existing Tax Regime](https://aluko-oyebode.com/insights/deduction-of-tax-at-source-regulations-2024/): Introduction Pursuant to the provisions of relevant tax laws[1], the Minister of Finance and Coordinating Minister of the Economy (the “Minister”) has issued new Deduction of Tax at Source (Withholding) Regulations 2024 (the “Regulations”) which took effect from 1 July 2024. The Regulations supersede all previous withholding tax (WHT) regulations and create a consolidated WHT - [Nigerian Electricity Regulatory Oversight Transfer to State Commissions](https://aluko-oyebode.com/insights/nigerian-electricity-regulatory-oversight-transfer-to-state-commissions/): The Nigerian Electricity Regulatory Commission Transfer of Regulatory Oversight of the Electricity Market in Edo, Oyo, Enugu, Imo, Ekiti, and Ondo States to the Respective States’ Electricity Regulatory Commission As part of the process of reformation of the electricity sector in Nigeria, the Nigerian Electricity Regulatory Commission (the “NERC”) pursuant to the powers conferred on - [Babatunde Fagbohunlu, SAN, and Oghogho Makinde Officially Join NUPRC ADRC Body of Neutrals](https://aluko-oyebode.com/insights/babatunde-fagbohunlu-san-and-oghogho-makinde-officially-join-nuprc-adrc-body-of-neutrals/): We are pleased to announce that our Senior Partner, Babatunde Fagbohunlu, SAN, and Partner, Oghogho Makinde, were officially inaugurated into the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)'s Alternative Dispute Resolution Centre (ADRC) Body of Neutrals today. The ceremony took place at the NUPRC Regional Office in Lagos. The ADRC, launched by the NUPRC, with the - [Private Mergers and Acquisitions in Nigeria: Overview](https://aluko-oyebode.com/insights/private-mergers-and-acquisitions-in-nigeria/): ALN Nigeria | Aluko & Oyebode is pleased to have authored an overview on private mergers and acquisitions in Nigeria in the Practical Law Global Guide on Mergers and Acquisitions by Thomson Reuters. The overview provides insightful analyses of key issues in private mergers and acquisitions in Nigeria including, acquisition structures, due diligence investigations, acquisition - [Aluko & Oyebode Shortlisted for ITR EMEA Tax Awards 2025](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-itr-emea-tax-awards-2025/): Aluko & Oyebode has been shortlisted for the ITR (International Tax Review) Europe, Middle East, and Africa (EMEA) Tax Awards 2025, which recognise notable tax and transfer pricing firms and teams across 15 jurisdictions. Our Partner and Head of Tax Practice, Chukwuka Ikwuazom, SAN, FCTI, has been shortlisted for Tax Litigation Lawyer of the Year, - [Strengthening Resilience: Catastrophe Bonds and Emerging Risks](https://aluko-oyebode.com/insights/strengthening-resilience-catastrophe-bonds-and-emerging-risks/): Introduction: In recent years, Nigeria has been increasingly exposed to various natural disasters, including flooding, droughts, and disease outbreaks, which have taken a toll on its economy and population. According to the United States Government’s Nigeria Complex Emergency Fact Sheet,[1] seasonal heavy rains and subsequent flooding had adversely affected more than 157,000 people and displaced - [Current Developments in the Nigerian Energy Sector](https://aluko-oyebode.com/insights/current-developments-in-the-nigerian-energy-sector/): The Nigerian energy sector is in the midst of significant transformation, with wide-ranging activities across oil, gas, electricity, and renewable energy. Key drivers of this shift include regulatory reforms, international divestments, gas sector investments, and efforts to modernize the electricity market. International Oil Companies (IOCs) are divesting from Nigerian onshore assets, creating new opportunities for - [Webinar RSVP: Understanding Islamic Finance and Sukuk Structures](https://aluko-oyebode.com/insights/webinar-rsvp-understanding-islamic-finance-and-sukuk-structures/): We are pleased to invite you to a virtual training session titled "Understanding Islamic Finance and Sukuk Structures", which will be held on Thursday, 7 November 2024. This session will provide a comprehensive exploration of Islamic finance in Nigeria, with a focus on Sukuk instruments. As this sector continues to grow, understanding the principles and structures of Islamic finance - [ALN Nigeria | Aluko & Oyebode advises on US$500 Million Eurobond Issuance by Africa Finance Corporation](https://aluko-oyebode.com/insights/aln-nigeria-aluko-oyebode-advises-on-us500-million-eurobond-issuance-by-africa-finance-corporation/): ALN Nigeria | Aluko & Oyebode is pleased to have acted as sole Nigerian legal counsel in connection with the successful issuance of US$500 Million 5.55 percent Rule144A/Regulation S Notes due 2029 (the “Bond Issuance”) by Africa Finance Corporation (the “Corporation”) for which the Firm represented the “Joint Lead Managers” (Citigroup Global Markets Limited, First - [Cybersecurity in Gaming Industry: Compliance with National Lottery Regulatory Commission Risk-Based Cybersecurity Framework 2024](https://aluko-oyebode.com/insights/cybersecurity-in-gaming-industry-compliance-with-national-lottery-regulatory-commission-risk-based-cybersecurity-framework-2024/): Digital technologies remain susceptible to cybersecurity risk, the gaming industry, with its huge adoption of technology, is exposed to various vulnerabilities. Nigeria and other parts of the world have documented experiences of cyberattacks. The National Lottery Regulatory Commission (the “NLRC”) recently announced that KC Gaming Networks Limited (Bet 9ja), one of the leading sports betting - [Highlights of the Notice of Tax Incentives on Deep Offshore Oil and Gas Production, 2024](https://aluko-oyebode.com/insights/notice-of-tax-incentives-on-deep-offshore-oil-gas-2024/): In February 2024, the President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu issued the Oil and Gas Companies (Tax Incentives, Exemption, Remission, Etc) Order, 2024 (the “Order”) pursuant to powers conferred on him by sections 23 (2) and 89 of the Companies Income Tax Act 2004 (as amended) which empowers the President - [CBN Issues Guidelines on the Implementation of the Foreign Currency Disclosure, Deposit, Repatriation and Investment Scheme 2024](https://aluko-oyebode.com/insights/cbn-issues-guidelines-on-the-implementation-of-the-foreign-currency-disclosure-deposit-repatriation-and-investment-scheme-2024/): The CBN on 5 November 2024, issued the Guidelines on Implementation of the Foreign Currency Disclosure, Deposit, Repatriation, and Investment Scheme, 2024 (the “CBN Disclosure Guidelines”). Prior to this, the Federal Government of Nigeria (FGN) had, on 19 October 2023, launched the Foreign Currency Voluntary Disclosure, Deposit, Repatriation, and Investment Scheme (the “DDRI Scheme”) pursuant - [Green Bond as a Tool for Unlocking Sustainable Capital](https://aluko-oyebode.com/insights/green-bonds-and-climate-financing/): As governments and organisations increasingly recognise the impact of human activities on global warming, it has become imperative to prioritise climate concerns and address the climate crisis that threatens communities, economies, agriculture, food, and water supply. Addressing this challenge requires substantial financing, which led to the creation of a new class of securities that are - [Nigeria Infrastructure Sector Report – Q1 2026](https://aluko-oyebode.com/insights/nigeria-infrastructure-sector-report-q1-2026/): The first quarter of 2026 has marked a period of significant momentum across Nigeria’s infrastructure landscape. Driven by a combination of ambitious federal budgetary allocations, international financing arrangements, and private sector participation, the quarter saw notable developments spanning digital infrastructure, road and rail transport, urban mobility, maritime logistics, and the emerging green economy. Key highlights - [Financial crime enforcement: Key issues to watch in Nigeria](https://aluko-oyebode.com/insights/financial-crime-enforcement-key-issues-to-watch-in-nigeria/): Nigeria’s financial crime enforcement landscape has undergone significant change over the past year, driven by its exit from the Financial Action Task Force (FATF) grey list, a wave of legislative and regulatory reform and deepening international cooperation, most notably with the United Kingdom. Anti-money laundering (AML), counter-terrorist financing (CTF) and counter proliferation financing (CPF) are - [The Federal High Court Renders Two Important Decisions Relating to Statutory Contributions Under the Industrial Training Fund Act](https://aluko-oyebode.com/insights/federal-high-court-itf-act-payroll-rulings/): In the first of two important decisions relating to statutory contributions under the Industrial Training Fund Act, Cap I9 LFN 2004 (as amended in 2011) (“the ITF Act”), the Lagos Division of the Federal High Court (the “Court”), on 27 November 2024 in Suit No.: FHC/L/CS/1865/2023: The Shell Petroleum Development Company of Nigeria Limited & - [NUPRC Issues Guidelines on Advance Cargo Declaration Process](https://aluko-oyebode.com/insights/nuprc-issues-guidelines-on-advance-cargo-declaration-process/): The Nigerian Upstream Petroleum Regulatory Commission (“NUPRC”) has issued the Guidelines for the Operationalisation of the Advance Cargo Declaration Regulation 2025 (the “Guidelines”) pursuant to Regulation 8 of the Nigerian Upstream Advance Cargo Declaration Regulation 2024 (the “Regulations”), and the Petroleum Industry Act 2021 (the “PIA”). The Guidelines outline the procedures for implementing the digital - [WEBINAR | The New Nigerian Tax Regime: What Non-Residents Need to Know](https://aluko-oyebode.com/insights/nigeria-2025-tax-act-webinar-non-resident-taxation/): Nigeria’s 2025 Tax laws have introduced major reforms affecting non-residents, including new rules on permanent establishments, taxation of indirect transfers, and additional compliance obligations. In this webinar, attorneys from Aluko & Oyebode’s Tax Practice, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele and senior officials from the Federal Inland Revenue - [Nigerian Capital Markets Update Q2 2025](https://aluko-oyebode.com/insights/nigerian-capital-markets-update-q2-2025/): The Aluko & Oyebode Capital Markets Insights is a quarterly report providing updates on laws, regulations, and other activities in the Nigerian capital markets. This edition outlines updates from regulators of different capital market segments in Nigeria for the second quarter of 2025. In Q2 2025, Nigeria’s capital markets underwent significant regulatory changes, as outlined - [Aluko & Oyebode Advises AFG Aviation Ireland Limited on the Finance Lease of Two Aircraft to the Cross River State Government](https://aluko-oyebode.com/insights/finance-lease-bombardier-crj1000-aircraft-cross-river-state/): Aluko & Oyebode (the “Firm”) is pleased to have advised AFG Aviation Ireland Limited (“AFG Aviation”) in connection with the successful finance lease of 2 two Bombardier CRJ1000 aircraft to Cross River State Government (the “Transaction”). The Firm’s transaction team provided legal and regulatory guidance throughout the Transaction. This included advising on the transaction structure, - [Banking and Finance Outlook 2025: Mid-Year Reflections and the Road Ahead](https://aluko-oyebode.com/insights/nigerian-banking-finance-outlook-2025-midyear-review-projections/): We are excited to publish the inaugural edition of our Banking & Finance Outlook, in which we share our mid-year reflections on developments which have occurred in the Nigerian banking and finance sector from January – June 2025, as well as our projections for the rest of the year. The first half of this year - [Lower Costs, Higher Margins: What the Cost Efficiency Incentives Order Means for Operators and Contractors in Upstream Petroleum Operations](https://aluko-oyebode.com/insights/nigeria-upstream-petroleum-cost-efficiency-incentives-2025/): Explore the 2025 Upstream Petroleum Operations (Cost Efficiency Incentives) Order in Nigeria, detailing tax credit benefits, cost reduction benchmarks, and compliance requirements for oil and gas operators and contractors. - [Key Points from the Webinar on the Taxation of Non-Residents Under Nigeria’s New Tax Regime](https://aluko-oyebode.com/insights/nigeria-non-resident-tax-reforms-2025-webinar-key-takeaways/): On 28 July 2025, Aluko & Oyebode hosted a webinar for non-residents to examine recent developments in Nigerian tax law and their implications. The session featured insights from Chukwuka Ikwuazom, SAN, FCTI, Partner & Head of Tax Practice at Aluko & Oyebode; Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee; Dr. - [ARTICLE ON TRIANGULAR EMPLOYMENT](https://aluko-oyebode.com/insights/article-on-triangular-employment/): Traditionally, employment relationships involved only two parties: the employer and the employee. However, the modern labour landscape has evolved to accommodate more complex arrangements, including those involving three or more entities. One such arrangement is known as triangular employment, where a worker is formally employed by one entity (often a labour provider or contractor) but - [The FCCPC Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations 2025: Potential Implications for the Nigerian Digital Lending Landscape](https://aluko-oyebode.com/insights/insights-fccpc-digital-lending-regulations-2025-nigeria/): Over the years, the growth of the Nigerian fintech ecosystem has spurred a range of financial product offerings. One such offshoot is the digital lending platforms or “loan apps” as they are commonly referred to by their users. These platforms enable consumers access instant retail loans without security or collateral. The proliferation of these digital - [Highlight of the NCC Draft Guidelines for the Use of the Lower 6 GHz Band (5925–6425 MHz): Key Provisions and Practical Implications](https://aluko-oyebode.com/insights/highlight-of-the-ncc-draft-guidelines-for-the-use-of-the-lower-6-ghz-band-5925-6425-mhz-key-provisions-and-practical-implications-2/): IntroductionThe Nigerian Communications Commission (“NCC”) has issued Draft Regulatory Guidelines for the use of the lower 6 GHz (5925–6425 MHz) Band (the “Guideline”). The Guideline’s main proposition is to establish a framework for accessing and utilizing this frequency range to support high-bandwidth, high-speed, and low-latency applications such as Wireless Access Systems (WAS) and Radio Local - [Highlight of the NCC Draft Guidelines for the Use of the Lower 6 GHz Band (5925–6425 MHz): Key Provisions and Practical Implications](https://aluko-oyebode.com/insights/highlight-of-the-ncc-draft-guidelines-for-the-use-of-the-lower-6-ghz-band-5925-6425-mhz-key-provisions-and-practical-implications/): IntroductionThe Nigerian Communications Commission (“NCC”) has issued Draft Regulatory Guidelines for the use of the lower 6 GHz (5925–6425 MHz) Band (the “Guideline”). The Guideline’s main proposition is to establish a framework for accessing and utilizing this frequency range to support high-bandwidth, high-speed, and low-latency applications such as Wireless Access Systems (WAS) and Radio Local - [Intellectual Property Newsletter | Volume 3, 2025](https://aluko-oyebode.com/insights/intellectual-property-newsletter-volume-3-2025/): Welcome to the third edition of our 2025 Intellectual Property Newsletter. As Nigeria’s intellectual property landscape continues to evolve, this edition highlights key developments, regulatory actions, and emerging trends shaping IP rights across the country and their broader implications within the global context. This quarter, we spotlight notable regulatory initiatives, including the FCCPC’s market sensitisation - [WHEN OBEDIENCE BECOMES A LIABILITY: A REVIEW OF PAULYN ABHULIMEN v ZENITH BANK & ANOR. AND RELATED DECISIONS](https://aluko-oyebode.com/insights/when-obedience-becomes-a-liability-a-review-of-paulyn-abhulimen-v-zenith-bank-anor-and-related-decisions/): One of the longest-standing principles of the Nigerian legal system is the sanctity of court orders. It is a well-established rule that every person against whom an order of court is made owes a legal and civic duty to comply with the order, and until the order is set aside, it remains binding.[1] However, an - [Nigerian Capital Markets Update Q3 2025](https://aluko-oyebode.com/insights/nigerian-capital-markets-update-q3-2025/): The Aluko & Oyebode Capital Markets Insights is a quarterly report providing updates on laws, regulations, and other activities in the Nigerian capital markets. This edition outlines updates from regulators of different capital market segments in Nigeria for the third quarter of 2025. In Q3 2025, Nigeria’s capital markets saw key regulatory developments, as detailed - [Aluko &Oyebode MARITIME NEWSLETTER: QUARTER 3 2025](https://aluko-oyebode.com/insights/aluko-oyebode-maritime-newsletter-quarter-3-2025/): IMO Secretary-General visits Nigeria, commends Maritime Security Gains, Deep Blue Project, and Blue Economy Policy The Secretary General of the International Maritime Organization (IMO), Mr. Arsenio Domínguez, has praised Nigeria’s maritime achievements, highlighting its three-year streak of zero piracy incidents and the success of the Deep Blue Project as a model for regional cooperation in - [Aluko & Oyebode Advises on the Lagos State Government’s Series IV 10-Year ₦200 Billion Fixed Rate Bond Issuance](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-the-lagos-state-governments-series-iv-10-year-₦200-billion-fixed-rate-bond-issuance-2/): Aluko & Oyebode (the “Firm”) is pleased to have acted as a Joint Solicitor to the Trustees in connection with the Issuance of Lagos State Government’s Series IV 10-Year Fixed Rate Bond under its ₦1 Trillion Debt and Hybrid Instruments Issuance Programme (the “Issuance”). Proceeds from the Issuance are intended to be utilised for infrastructure - [2025 in Review: Highlights of Major Tax Developments](https://aluko-oyebode.com/insights/2025-in-review-highlights-of-major-tax-developments/): The year 2025 was a transformative year for Nigeria’s tax landscape. It was characterized by sweeping reforms, landmark judicial decisions, and significant policy initiatives. The Federal Government, the Federal Inland Revenue Service (“FIRS”) and some State Governments spearheaded bold legislative, administrative and policy reforms, introducing new tax frameworks and enhancing compliance systems, including updates to - [The Contractor’s Gamble: Disclose the Defect or Hope it never Fails](https://aluko-oyebode.com/insights/the-contractors-gamble-disclose-the-defect-or-hope-it-never-fails/): In modern construction projects, the timely identification and disclosure of emerging risks is central to effective project risk management. Standard forms such as the FIDIC Conditions of Contract incorporate notification and early warning mechanisms designed to encourage transparency and collaborative problem-solving between contracting parties. When properly implemented, these mechanisms enable project participants to identify and - [When IP Clauses Fail: Common Dispute Triggers in Technology and Commercial Agreements](https://aluko-oyebode.com/insights/when-ip-clauses-fail-common-dispute-triggers-in-technology-and-commercial-agreements/): In technology and commercial transactions, intellectual property (IP) is often the most valuable asset in the room. Yet disputes rarely arise because parties ignore IP entirely. They arise because IP clauses are poorly drafted, misaligned with commercial expectations, or silent on critical risk allocation issues. When this happens, what was intended to safeguard value becomes - [Aluko & Oyebode Contributes to Thomson Reuters Practical Law Global Guide on Nigeria’s Capital Markets](https://aluko-oyebode.com/insights/aluko-oyebode-contributes-to-thomson-reuters-practical-law-global-guide-on-nigerias-capital-markets/): Aluko & Oyebode is pleased to have contributed to the latest edition of the Practical Law Global Guide on Nigeria’s capital markets, titled “Capital Markets in Nigeria: Regulatory Overview”, published by Thomson Reuters. This Q&A-style guide, available on Thomson Reuters Practical Law, provides practical insights into Nigeria’s equity and debt capital markets, including the regulators, - [Aluko & Oyebode Advises Syncord Nigeria Limited on 22-Floor Mixed-Use Tower Development in Eko Atlantic City](https://aluko-oyebode.com/insights/aluko-oyebode-advises-syncord-nigeria-limited-on-22-floor-mixed-use-tower-development-in-eko-atlantic-city/): Aluko & Oyebode has acted as legal counsel to Syncord Nigeria Limited on a landmark real estate transaction for the development of Syncord Tower by Arkland, a 22-floor mixed-use tower located in Eko Atlantic City, Lagos. The project represents a significant addition to Eko Atlantic City‘s rapidly evolving commercial skyline and reflects the deepening appetite of private - [NUPRC Issues the Conversion and Renewal (Licences and Leases) Regulations 2026](https://aluko-oyebode.com/insights/nuprc-issues-the-conversion-and-renewal-licences-and-leases-regulations-2026/): The Nigerian Upstream Petroleum Regulatory Commission (“NUPRC”) has issued the Conversion and Renewal (Licences and Leases) Regulations, 2026 (the “2026 Regulations”) which repeals the Conversion and Renewal (Licenses and Leases) Regulations, 2022 (the “2022 Regulations”). This regulatory update forms part of the Petroleum Industry Act, 2021 (the “PIA”)’s transition mandate for migrating legacy upstream titles - [Fintech Friday | Cross-Border Data Transfers for Fintechs](https://aluko-oyebode.com/insights/fintech-friday-cross-border-data-transfers-for-fintechs/): What Constitutes Cross-Border Transfer of Personal Data? A cross-border transfer of personal data occurs when personal data collected in Nigeria is sent to, stored in, or accessed from another country. This includes sending customer KYC data to a foreign vendor, using a cloud server located outside Nigeria, or sharing transaction records with an international payment - [The CBN’s Removal of Cash Pooling Requirements for International Oil Companies (IOCs) and Its Implications for Nigeria’s Foreign Exchange Market](https://aluko-oyebode.com/insights/the-cbns-removal-of-cash-pooling-requirements-for-international-oil-companies-iocs-and-its-implications-for-nigerias-foreign-exchange-market/): On 25 March 2026, the Central Bank of Nigeria (CBN) issued a circular to all Authorised Dealer Banks (ADBs) confirming that International Oil Companies (IOCs) operating in Nigeria are “hereby granted unfettered access to their repatriated export proceeds.” Under this directive, IOCs may repatriate 100% of their export proceeds through ADBs, subject to adequate documentation - [Training Your Employee and Management Team on Data Privacy and Protection: Guidance on Content and Standards](https://aluko-oyebode.com/insights/training-your-employee-and-management-team-on-data-privacy-and-protection-guidance-on-content-and-standards/): The NDPC, not too long ago, issued a guidance notice on data privacy and protection training for employees of data controllers and processors (the Notice). Article 30(1) of the NDPA General Application & Implementation Directive (GAID) mandates data controllers and processors to prepare and implement an organisational schedule for internal sensitisation and training on privacy, while - [NNPC Limited Announces River Niger Crossing on OB3 Gas Pipeline Key Significance and Implications](https://aluko-oyebode.com/insights/nnpc-limited-announces-river-niger-crossing-on-ob3-gas-pipeline-key-significance-and-implications/): On 30 April 2026, the Nigerian National Petroleum Company (NNPC) Limited announced the completion of the River Niger crossing of the Obiafu-Obrikom-Oben (OB3) gas pipeline, marking a significant milestone in the pipeline project and Nigeria’s gas transmission network. This development follows the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline River Niger crossing in June 2025. The OB3 Pipeline - [Nigeria’s SEC Expands ARIP: What the Latest Fintech Admissions Mean](https://aluko-oyebode.com/insights/nigerias-sec-expands-arip-what-the-latest-fintech-admissions-mean/): Introduction On 2 and 3 July 2026, the Securities and Exchange Commission (the “SEC” or “Commission“) issued public notices confirming the admission of 9 (nine) Virtual Asset Service Providers (“VASPs“) into its Accelerated Regulatory Incubation Programme (“ARIP“), granting them Approval-in-Principle (“AIP“). The admissions represent a significant acceleration in the Commission’s engagement with the digital assets - [What the Federal Competition and Consumer Protection Commission’s Inquiry Means for Online Platforms, Publishers, and Artificial Intelligence](https://aluko-oyebode.com/insights/what-the-federal-competition-and-consumer-protection-commissions-inquiry-means-for-online-platforms-publishers-and-artificial-intelligence/): The Federal Competition and Consumer Protection Commission (FCCPC or the “Commission”) has commenced a formal inquiry into allegations concerning the use of Nigerian news content by certain digital and generative artificial intelligence (AI) platforms (the “Inquiry”). The Inquiry has generated significant interest across Nigeria’s technology and media sectors – and rightly so. It sits at - [Successful Bidders in Nigeria’s 2025 Licensing Round: What to Do in the First 90 Days](https://aluko-oyebode.com/insights/successful-bidders-in-nigerias-2025-licensing-round-what-to-do-in-the-first-90-days/): The emergence of thirty-one (31) companies as winners of the Nigerian Upstream Regulatory Commission’s (the “Commission ”) 2025 Licensing Round during the commercial bid conference held on 21 July 2026 marks the culmination of one of Nigeria’s most transparent upstream licensing exercises and the beginning of an equally critical post-award phase, which is subject to - [Data Protection Compliance: Federal High Court Upholds NDPC’S Power to Designate and Register Entities as DCPMIs](https://aluko-oyebode.com/insights/data-protection-compliance-federal-high-court-upholds-ndpcs-power-to-designate-and-register-entities-as-dcpmis/): On July 28, 2026, the Federal High Court sitting at Lagos (Coram: F. N. Ogazi J) dismissed Suit – Emmanuel Harunna v. Nigeria Data Protection Commission (the “Suit”).1 In the Suit, the Applicant had sought, among others, a declaration that Point of Sale (POS) agents did not qualify as Data Controllers or Data Processors of Major Importance under - [Guide To White-Collar Crimes And Forensic Investigations In Key African Jurisdictions](https://aluko-oyebode.com/insights/guide-to-white-collar-crimes-and-forensic-investigations-in-key-african-jurisdictions/): Aluko & Oyebode contributes the Nigeria chapter to Webber Wentzel’s Africa-wide guide examining white-collar crime and forensic investigations across six African jurisdictions. The Guide to White-Collar Crimes and Forensic Investigations in Key African Jurisdictions provides an overview of the legal and regulatory frameworks governing white-collar crime and forensic investigations across six African jurisdictions. Aluko & Oyebode contributed - [CBN New Instant Payment Security Requirements](https://aluko-oyebode.com/insights/cbn-new-instant-payment-security-requirements/): The Central Bank of Nigeria Introduces New Instant Payment Security Requirements: Compliance Considerations for Financial Institutions On 12 March 2026, the Central Bank of Nigeria (“CBN”) issued its circular titled “Additional Functionalities for Instant Payment” addressed to all banks, other financial institutions (“OFIs”) and payment service providers (“PSPs”) (together, “Financial Institutions”) operating in Nigeria (the - [Aluko & Oyebode Advises Sage Grey Finance Limited on the Establishment of the Circular Economy Impact Facility](https://aluko-oyebode.com/insights/aluko-oyebode-advises-sage-grey-finance-limited-on-the-establishment-of-the-circular-economy-impact-facility/): Aluko & Oyebode is pleased to have advised Sage Grey Finance Limited (“Sage Grey”), a financial institution licensed and regulated by the Central Bank of Nigeria and integrated into the Nigerian Inter-Bank Settlement System (NIBSS), on the establishment and launch of the US$10 million Circular Economy Impact Facility (“CEIF”). The CEIF reflects Sage Grey’s commitment - [Aluko & Oyebode Advises 26-Lender Syndicate on AFC’s US$2bn Facility](https://aluko-oyebode.com/insights/aluko-oyebode-advises-26-lender-syndicate-on-afcs-us2bn-facility/): Aluko & Oyebode is proud to have acted as Nigerian legal advisers to a syndicate of 26 global lenders on the landmark US$2 billion syndicated term loan facility extended to the Africa Finance Corporation (AFC), the largest single funding facility raised by AFC to date. The facility will support AFC’s role as a catalyst for - [2025 Oil Licensing Round: What to Know about the New Bid Portal, Fiscal Terms and Contracting Models](https://aluko-oyebode.com/insights/2025-oil-licensing-round-what-to-know-about-the-new-bid-portal-fiscal-terms-and-contracting-models/): The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has now launched the dedicated bid portal (https://br2025.nuprc.gov.ng/) for registrations and submissions of bids in line with the Petroleum Industry Act, 2021 (PIA) and the Petroleum Licensing Round Regulations, 2022. The NUPRC in the 2025 round seeks to grow reserves and production and deepen gas development with transparency - [Maritime Newsletter Quarter 4](https://aluko-oyebode.com/insights/maritime-newsletter-quarter-4/): China has announced plans to accelerate the implementation of a zero-tariff regime for Nigerian exports, signalling a major boost for bilateral trade. This initiative, revealed by China’s Ambassador to Nigeria during a meeting with Nigeria’s Foreign Minister, aligns with Beijing’s broader strategy to deepen economic ties with Africa and promote high-standard opening-up. The policy will - [31 March 2026 – Deadline for Filing Annual Data Protection Compliance Audit Returns](https://aluko-oyebode.com/insights/31-march-2026-deadline-for-filing-annual-data-protection-compliance-audit-returns/): The Nigeria Data Protection Commission has introduced a new regulatory regime under the General Application and Implementation Directive (GAID), which significantly updates the process and requirements for filing Annual Data Protection Compliance Audit Returns (CAR). Eligible Data Controllers and Processors of Major Importance are required to comply with the new GAID template and filing process, - [Nigeria 2025 Oil Licensing Round: Key Clarifications from The Pre-Bid Conference](https://aluko-oyebode.com/insights/nigeria-2025-oil-licensing-round-key-clarifications-from-the-pre-bid-conference/): The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has provided key clarifications on the Nigeria 2025 Oil Licensing Round during its pre‑bid conference held in Lagos. The session outlined critical details on the 50 blocks on offer, the bidding procedure, technical and commercial evaluation criteria, consortium rules, available incentives, and the revised licensing timetable. With signature bonuses ranging - [Data Privacy Week Conversation | Privacy in the Age of Emerging Technologies: Trust, Ethics & Innovation](https://aluko-oyebode.com/insights/data-privacy-week-conversation-privacy-in-the-age-of-emerging-technologies-trust-ethics-innovation/): To mark Data Privacy Week 2026, Aluko & Oyebode convened a conversation between our Managing Partner, Adeolu Idowu, and Associate Oyinkansola Adebayo to explore what data privacy really means for Nigerians navigating an increasingly digital world. From mobile banking and fintech apps to AI tools and facial recognition, technology is now embedded in everyday life. - [Toritseju “Toju” Dottie recognised in the Top 100 Influential Women Leaders in IP Law ranking](https://aluko-oyebode.com/insights/toritseju-toju-dottie-recognised-in-the-top-100-influential-women-leaders-in-ip-law-ranking/): We are pleased to share that our Partner, Toritseju Toju Dottie, has been recognised in the 2026 Women’s Intellectual Property (IP) World Annual Top 100 Influential Women Leaders in IP Law ranking. According to The Women’s IP World Annual publication, Toritseju is distinguished by her role as a visible advocate and mentor for women in IP, guiding and - [Aluko & Oyebode Advises Anergi on Landmark Decentralised Energy Joint Venture in Nigeria](https://aluko-oyebode.com/insights/aluko-oyebode-advises-anergi-on-landmark-decentralised-energy-joint-venture-in-nigeria/): Aluko & Oyebode is delighted to have acted as legal counsel to Anergi International Limited and Anergi Nigeria Commercial Limited (“Anergi”), in connection with its landmark investment in Decentralised Energy Limited (“DEL”), a joint venture between Anergi and Viathan (Nigeria’s largest embedded energy solutions provider), which is backed by a strong investor consortium consisting of Sango - [Lagos State Approves 50 Year Lease Renewal for Ikoyi-Obalende Properties](https://aluko-oyebode.com/insights/lagos-state-approves-50-year-lease-renewal-for-ikoyi-obalende-properties/): The Lagos State Governor, Mr Babajide Sanwo-Olu, has approved a 50-year lease renewal for property owners within the Ikoyi-Obalende axis under the Obalende South-West Ikoyi Urban Regeneration Scheme. The approval was announced by the Governor’s Special Adviser on e-GIS and Urban Development, Dr Olajide Babatunde, during a stakeholders’ meeting in Ikoyi held on 4 April - [Aluko & Oyebode Promotions: Senior and Managing Associates](https://aluko-oyebode.com/insights/aluko-oyebode-promotions-senior-and-managing-associates/): Aluko & Oyebode is pleased to announce the promotion of a number of its lawyers to Senior Associate and Managing Associate. These promotions reflect the Firm’s continued focus on strengthening its capabilities and recognising individuals who have consistently demonstrated strong technical expertise, sound commercial judgement, and a commitment to client service. The newly promoted Senior Associates - [Lagos State Blue Book to Take Effect from 1 May 2026](https://aluko-oyebode.com/insights/lagos-state-blue-book-to-take-effect-from-1-may-2026/): At the stakeholders’ engagement on Fair Market Value (the “Blue Book”) held on 28 April 2026, the Lagos State Lands Bureau informed stakeholders that it has concluded a review of its Blue Book, which sets out Fair Market Value (FMV) rates. This review exercise is conducted every five (5) years. During the engagement, stakeholders were - [Aluko & Oyebode Has Been Shortlisted for Nigeria Law Firm of the Year in Both Transactional and Dispute Resolution at the Chambers and Partners Africa Awards 2026](https://aluko-oyebode.com/insights/aluko-oyebode-has-been-shortlisted-for-nigeria-law-firm-of-the-year-in-both-transactional-and-dispute-resolution-at-the-chambers-and-partners-africa-awards-2026/): Aluko & Oyebode is pleased to have been shortlisted at the Chambers and Partners Africa Awards 2026 in the following categories: • Nigeria Law Firm of the Year: Transactional • Nigeria Law Firm of the Year: Dispute Resolution These shortlists reflect the Firm’s continued focus on delivering high-quality, commercially sound advice across complex transactions and contentious mandates, - [NERC 2026 Mini-Grid Regulations and the New Power Reality in Nigeria](https://aluko-oyebode.com/insights/nerc-2026-mini-grid-regulations-and-the-new-power-reality-in-nigeria/): Nigeria’s electricity landscape is increasingly defined by off-grid and decentralised solutions. A significant portion of current activity, including commercial and industrial (C&I) power generation, distributed energy solutions, and renewable energy projects, is being developed outside the national grid, driven by reliability challenges and the need for flexible, captive power arrangements. In parallel, the emergence of - [Nigerian Energy Quarterly Report](https://aluko-oyebode.com/insights/nigerian-energy-quarterly-report/): The Nigeria Energy Quarterly Report – Q1 2026 provides an overview of key developments across Nigeria’s oil and gas, power and mining sectors between January and March 2026. The oil and gas sector recorded significant commercial and regulatory activities across the upstream, midstream, and downstream segments. Notable developments included the pre-qualification process for the 2025 - [NMDPRA Signals Enforcement Against Free-Zone Petroleum Operators](https://aluko-oyebode.com/insights/nmdpra-signals-enforcement-against-free-zone-petroleum-operators/): On 12 May 2026, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) issued an industry circular to operators in the midstream and downstream petroleum sector reiterating its statutory oversight role for technical, commercial, operational and licensing regulations in the sector. The circular clarifies that NMDPRA’s regulatory mandate extends to free zones, export processing zones - [A&O Maritime Newsletter- Quarter 1 2026](https://aluko-oyebode.com/insights/ao-maritime-newsletter-quarter-1-2026/): After decades of anticipation, Nigeria’s National Single Window (NSW) officially commenced operations on March 27, 2026. This unified digital platform is designed to eliminate the multi-agency bureaucracy that has historically cost the Nigerian economy an estimated N2.5 trillion annually in lost revenue and red tape. Following a strategic “phased rollout” approach to avoid the glitches associated with previous launch events - [ALN Nigeria | Aluko & Oyebode advises Brookfield-led consortium on the take-private of Network International Holdings Plc](https://aluko-oyebode.com/insights/aln-nigeria-aluko-oyebode-advises-brookfield-led-consortium-on-the-take-private-of-network-international-holdings-plc/): Aluko & Oyebode (the “Firm”) is pleased to have advised a Brookfield-led consortium in connection with its take-private of Network International Holdings Plc ("Network"), a leading payments provider across the Middle East and Africa, at a value of approximately £2.2 billion. This deal is one of the largest private equity investments ever completed in the - [Aluko & Oyebode Advises on Access Golf’s Majority Stake Acquisition and Merger with ARM Pensions](https://aluko-oyebode.com/insights/access-pensions-arm-merger-advisory/): Aluko & Oyebode is pleased to have advised Access Golf Nigeria Limited, a subsidiary of Access Holdings Plc and majority shareholder of Access Pensions Limited on the acquisition of a significant majority equity stake in ARM Pension Managers (PFA) Limited, and on the subsequent merger of Access Pensions and ARM Pensions. Following the acquisition, and - [Aluko & Oyebode Advises Access Holdings Plc and Access Bank Plc on the Successful Completion of their Respective Rights Issues](https://aluko-oyebode.com/insights/aluko-oyebode-advises-access-holdings-plc-and-access-bank-plc-on-the-successful-completion-of-their-respective-rights-issues/): Aluko & Oyebode (the "Firm") is delighted to have advised Access Holdings Plc (“Access Corporation”) as lead Solicitors to the Issue in connection with its capital raise of N351.01 Billion by way of rights issue ("Rights Issue"). The Firm further acted as Solicitors to Access Bank Plc ("Access Bank") in connection with its rights issue - [ALN Nigeria | Aluko & Oyebode Advises First Abu Dhabi Bank PJSC on a US$400 Million Murabaha Facility to Africa Finance Corporation](https://aluko-oyebode.com/insights/shariah-compliant-commodity-murabaha-africa-finance-corporation/): ALN Nigeria | Aluko & Oyebode acted as Nigerian Legal Counsel in a US$400 million Shariah-compliant Commodity Murabaha Facility to Africa Finance Corporation, driving sustainable infrastructure development across Africa. - [Aluko & Oyebode Advises on Debut Hybrid Bond Issuance by Africa Finance Corporation](https://aluko-oyebode.com/insights/africa-finance-corporation-hybrid-bond-issuance/): Aluko & Oyebode (the "Firm") is pleased to have acted as sole Nigerian legal counsel in connection with the successful issuance, by Africa Finance Corporation, of its debut US$500 million hybrid bond (the "Notes"). The Firm represented the Joint Bookrunners: Emirates NBD Bank PJSC, J.P. Morgan Securities plc, Mashreqbank psc, Merrill Lynch International, MUFG Securities - [Aluko & Oyebode Advises Arnergy Solar Limited on USD 18 Million Series B Fundraise and Corporate Restructuring](https://aluko-oyebode.com/insights/arnergy-series-b-fundraise-legal-counsel/): Aluko & Oyebode served as legal counsel to Arnergy Solar Limited in its USD 18 million Series B fundraise, enabling the company to expand its footprint across Africa with sustainable energy solutions. - [Aluko & Oyebode Advises First Ally Capital Limited on the Acquisition of a Majority Equity Stake in Mines.IO Nigeria Limited](https://aluko-oyebode.com/insights/first-ally-capital-acquisition-in-mines-io-nigeria/): The Firm is pleased to have advised First Ally Capital Limited (“FACL”), a leading independent financial services group providing tailored financial solutions, on its successful acquisition of a majority stake in Mines.IO Nigeria Limited (“Mines.IO”). Mines.IO is a fintech company that leverages artificial intelligence, data, and financial analytics to deliver credit solutions to individuals and - [Aluko & Oyebode advises SanlamAllianz Africa (Pty) Limited on landmark insurance merger in Nigeria](https://aluko-oyebode.com/insights/insights-sanlamallianz-nigeria-merger-2025/): Aluko & Oyebode is pleased to have advised on the successful merger of the Nigerian subsidiaries of SanlamAllianz Africa (Pty) Limited (the “Joint Venture”), comprising Sanlam Life Insurance Nigeria Limited, Sanlam General Insurance Nigeria Limited, and Allianz Nigeria Insurance Limited. This strategic consolidation resulted in the formation of Sanlam Allianz Life Insurance Nigeria Limited and - [Aluko & Oyebode Advises Accion Venture Lab in Connection with its Investment in PaidHR](https://aluko-oyebode.com/insights/paidhr-accion-venture-lab-funding-2025/): Aluko & Oyebode is pleased to have advised Accion Venture Lab, a leading early-stage investor in inclusive fintech, providing seed-first capital and strategic support to innovative startups that are meeting the financial needs of underserved people globally, on the successful completion of a seed round investment in Pade HCM Technology Limited (“PaidHR”). PaidHR is a - [Aluko & Oyebode Advises on the Lagos State Government’s Series IV 10-Year ₦200 Billion Fixed Rate Bond Issuance](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-the-lagos-state-governments-series-iv-10-year-₦200-billion-fixed-rate-bond-issuance/): Aluko & Oyebode (the “Firm”) is pleased to have acted as a Joint Solicitor to the Trustees in connection with the Issuance of Lagos State Government’s Series IV 10-Year Fixed Rate Bond under its ₦1 Trillion Debt and Hybrid Instruments Issuance Programme (the “Issuance”). Proceeds from the Issuance are intended to be utilised for infrastructure - [Aluko & Oyebode to Co-Host Africa Policy Dialogue on the Future of International Law during the ILA Vienna Conference](https://aluko-oyebode.com/insights/aluko-oyebode-to-co-host-africa-policy-dialogue-on-the-future-of-international-law-during-the-ila-vienna-conference/): Dialogue to explore the future of international law amid shifting geopolitical and geoeconomic realities and Africa’s strategic priorities. LAGOS, NIGERIA | August 5, 2026 – Aluko & Oyebode, a top-tier full-service law firm in Nigeria, is set to co-host the International Law Association (Nigeria Branch) Africa Policy Dialogue alongside the International Law Association (Nigeria Branch), - [Chambers Global 2027 Affirms Aluko & Oyebode’s Market Leadership](https://aluko-oyebode.com/insights/chambers-global-2027-affirms-aluko-oyebodes-market-leadership/): The 2027 edition of the Chambers Global Guide has once again recognised Aluko & Oyebode as a leading law firm in Nigeria, with rankings across nine practice areas and 14 individually ranked lawyers. The Firm is ranked in Banking & Finance, Capital Markets, Competition/Antitrust, Corporate/Commercial, Dispute Resolution, FinTech Legal, Intellectual Property & TMT, Projects & Energy, and - [Nigerian Capital Markets Regulatory Update Q4 2025](https://aluko-oyebode.com/insights/nigerian-capital-markets-regulatory-update-q4-2025/): Key Nigerian SEC, PENCOM & NAICOM Developments – December 2025 Aluko & Oyebode is pleased to present the latest edition of our Capital Markets Insights, a quarterly series delivering essential updates on laws, regulations, and key activities shaping Nigeria’s capital markets and pension ecosystem. Q4 2025 featured significant regulatory advancements from the Securities and Exchange Commission (SEC), National - [Aluko & Oyebode Recognised for Employment Law and Diversity Innovation in Africa](https://aluko-oyebode.com/insights/aluko-oyebode-africa-legal-awards-2025/): We are pleased to announce that Aluko & Oyebode has been named Employment Team of the Year at the 2025 African Legal Awards, and recognised for Innovation in Diversity for a Law Firm at the 2025 African Legal & Technology Awards, both hosted by ALM Global, LLC. We extend our warm congratulations to our fellow - [Continuation of Sector-by-Sector Investigation by the Nigeria Data Protection Commission](https://aluko-oyebode.com/insights/continuation-of-sector-by-sector-investigation-by-the-nigeria-data-protection-commission/): The Nigeria Data Protection Commission (“NDPC”) on Thursday, 19 February 2026, issued a Compliance Notice containing a schedule of six hundred and forty-nine (649) higher institutions across Nigeria. The listed institutions include federal, state, and private universities, technical colleges, colleges of education, polytechnics, and similar bodies. This action forms part of the Commission’s ongoing sector-by-sector - [Gbenga Oyebode, Chairman of ALN, on N. Dowuona & Company’s Joining the Alliance](https://aluko-oyebode.com/insights/n-dowuona-company-joins-aln-pan-african-alliance/): N. Dowuona & Company, one of Ghana's leading law firms, joins ALN to enhance the alliance's West African presence. This strategic partnership strengthens ALN's ability to provide integrated legal services across Africa, leveraging local expertise and global reach. - [NUPRC issues Directive on Standardised Templates and Measurement-Based Methane and GHG Reporting](https://aluko-oyebode.com/insights/nuprc-issues-directive-on-standardised-templates-and-measurement-based-methane-and-ghg-reporting/): On 13 April 2026, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) issued a Directive requiring upstream operators to use standardised templates for greenhouse gas emissions management planning and reporting of methane/GHG accounting and inventory. The Directive marks a shift from policy-level expectations to an auditable, evidence-driven compliance framework. Click here to download the full publication. - [Betting on the Future – Why Africa’s Moment Demands More Than Belief](https://aluko-oyebode.com/insights/betting-on-the-future-why-africas-moment-demands-more-than-belief/): That distinction, between admiration from a distance and committed capital on the ground, is the sharpest diagnosis of where the continent stands in 2026. Delivered at the Africa Forward | Inspire & Connect Summit, this observation from Gbenga Oyebode, Chairman of ALN and one of Africa’s most consequential legal and business architects, cuts through the - [CBN Issues Circular on Market Structure, Data Localisation, and Systemic Oversight in Nigeria Payments](https://aluko-oyebode.com/insights/cbn-issues-circular-on-market-structure-data-localisation-and-systemic-oversight-in-nigeria-payments/): On 15 June 2026, the Central Bank of Nigeria (the “CBN”) issued circular PSS/DIR/PUB/CIR/001/004 on the introduction of market structure requirements, data localisation, ultimate beneficial ownership disclosure and systemic oversight measures in the Nigeria payments system (the “Circular”). The Circular applies to deposit money banks, microfinance banks, mobile money operators, switching and processing companies, payment - [Internet Platforms and Online Intermediaries Regulatory Coordination: Commentary](https://aluko-oyebode.com/insights/internet-platforms-and-online-intermediaries-regulatory-coordination-commentary/): On the 7 July, 2026, the Federal Ministry of Communications, Innovation and Digital Economy (the “Ministry”) directed its agencies that the regulatory status quo be maintained on matters relating to the regulation of internet platforms, online intermediaries and other cross-cutting digital economy issues, pending the development of a harmonised national policy and governance framework. The - [Incident Response Beyond the Organisation: A Brief Overview on Cybersecurity Incident Reporting Obligations under Nigerian Law](https://aluko-oyebode.com/insights/cybersecurity-incident-reporting-nigeria-2025/): Generally, organisations may be categorised into those who have experienced cybersecurity incidents and those that would experience cyber incidents.[1] The reality is that most organisations, whether they have experienced a cyber threat/incident in the past or not, may be on their way to their first or the next cyber threat/incident. These incidents may manifest in - [NUPRC Issues the Upstream Petroleum Fees and Rents (Temporary) Regulations, 2025](https://aluko-oyebode.com/insights/nuprc-issues-the-upstream-petroleum-fees-and-rents-temporary-regulations-2025-2/): The NUPRC has issued the Upstream Petroleum Fees and Rents (Temporary) Regulations, 2025, introducing a temporary framework for fees and rents in Nigeria’s upstream sector under the PIA. Read about its scope, key provisions, and implications. - [The Nigerian Communications Commission (NCC) Commences Licensing for the Provision of International Application to Person (A2P) Messaging in Nigeria.](https://aluko-oyebode.com/insights/ncc-international-a2p-messaging-aggregator-licence-nigeria-2025/): Introduction In a significant move to regulate the Application-to-Person (“A2P”) messaging[1] services within Nigeria, the Nigerian Communications Commission (“NCC” or the “Commission”) has released the Licence Framework for International Application to Person (A2P) Messaging in Nigeria (the “IA2P Framework”), which introduces the “International A2P Messaging Aggregator Licence” (“IA2P Aggregator Licence” or the “Licence”). The IA2P - [Impact of the ECOWAS Regional Competition Authority on M&A Transactions in Nigeria](https://aluko-oyebode.com/insights/erca-m-and-a-nigeria-ecowas/): The inauguration of members of the ECOWAS Regional Competition Authority (“ERCA”) on October 1, 2024, marked a new era in the regulation of competition across West Africa. This development signals progress towards greater regional economic integration. However, it also raises significant questions for stakeholders involved in Merger & Acquisition (“M&A”) transactions in Nigeria, which stands - [NUPRC Issues Upstream Petroleum (Commercial) Regulations 2025](https://aluko-oyebode.com/insights/nigerian-upstream-petroleum-commercial-regulations-2025-overview/): The Nigerian Upstream Petroleum Regulatory Commission (“NUPRC”) recently issued the Nigerian Upstream Petroleum (Commercial) Regulations 2025 (the “Regulations”), pursuant to Section 8 of the Petroleum Industry Act, 2021 (the “PIA”), which empowers the NUPRC to review and approve the commercial aspects of field development plans and to develop cost benchmarks for upstream operations. Section 79 - [ISA 2025 and NTAA 2025: Further Developments in the Regulatory Oversight of Virtual Assets](https://aluko-oyebode.com/insights/digital-asset-regulation-nigeria-2025/): Explore Nigeria's 2025 digital asset regulations under the ISA 2025 and NTAA. Learn how the SEC oversees virtual assets qualifying as securities. - [Overview of the Notable Changes Introduced by the New Nigeria Tax Acts, 2025](https://aluko-oyebode.com/insights/nigeria-2025-tax-acts-summary/): The Nigeria Tax Act, 2025 (“NTA”), the Nigeria Tax Administration Act, 2025 (“NTAA”), the Nigeria Revenue Service (Establishment) Act, 2025 (“NRSA”) and the Joint Revenue Board (Establishment) Act, 2025 (“JRBA”) (collectively referred to herein as the “New Tax Acts”) which were recently signed into law by the President of Nigeria have established a new tax - [A Blueprint for Wealth Preservation and Legacy](https://aluko-oyebode.com/insights/estate-planning-nigeria-legacy-wealth-protection/): Estate planning is not just for the ultra-wealthy but rather, is a process that any individual with assets, items of value or business interests should navigate and undertake. Certainly, anyone who qualifies as high net worth should prioritise the thoughtful preservation and transfer of their assets, businesses, and family legacy. Beyond asset distribution, estate planning - [Sumbo Akintola and Timothy Ogele speak to African Law & Business on new NDPC's Investigations](https://aluko-oyebode.com/insights/sumbo-akintola-and-timothy-ogele-speak-to-african-law-business-on-new-ndpcs-investigations/): We have provided our responses below for your consideration. Happy to help further. Was it surprising? Not exactly. Last year, the CEO/EVC of Nigeria Data Protection Commission (NDPC) had indicated their intention for massive/proactive enforcement in 2025, we have since witnessed experienced a surge in NDPC investigations. What we did not envisage, however, - [Nigerian Insurance Industry Reform Act 2025: Implications for the Nigerian Insurance Sector](https://aluko-oyebode.com/insights/nigerian-insurance-industry-reform-act-2025/): Nigeria’s insurance sector has been considered underdeveloped relative to the size of the economy. Persistent issues such as low penetration, weak public confidence and undercapitalisation have hindered its ability to deliver effective financial intermediation and risk protection. Previous reform attempts, ranging from revised capital thresholds to piecemeal legislative updates, sought to address these challenges but - [Tax Compliance Essentials for Fintech Startups | AO Insider Series (Ep. 15)](https://aluko-oyebode.com/insights/tax-compliance-essentials-for-fintech-startups-ao-insider-series-ep-15/): In this edition of the AO Insider Series, experts unpack one of the most pressing issues shaping Nigeria’s fintech sector — tax compliance and evolving regulatory obligations. As Nigeria’s fintech ecosystem continues to expand, startups face growing demands for transparency, compliance, and sustainable governance. This insightful session — “Tax Compliance Essentials: Navigating New Obligations for - [Looking at the IP Side of Big Big Things in Detty December](https://aluko-oyebode.com/insights/looking-at-the-ip-side-of-big-big-things-in-detty-december/): Over the past few years, the Nigerian creative sector has witnessed several moments of genius, instances that were neither staged nor planned, but born of perfect timing. In those brief, spontaneous bursts of creativity, a single word, phrase, image, or action can emerge and instantly resonate with people across different spheres, including the arts, fashion, - [Unpacking the New DEON Consumer Lending Guidelines 2025: Key Obligations and Implications for Lenders](https://aluko-oyebode.com/insights/unpacking-the-new-deon-consumer-lending-guidelines-2025-key-obligations-and-implications-for-lenders/): On 21 July 2025, the Federal Competition and Consumer Protection Commission (“FCCPC”) issued the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025 (“DEON Regulations”) to establish a regulatory framework governing digital, electronic consumer lending services in Nigeria. Further to this, the FCCPC issued the Digital, Electronic, Online or Non-Traditional Consumer Lending Guidelines 2025 (the - [Aluko & Oyebode Contributes Guidance Note on Nigeria’s Privacy Impact Assessment Regime](https://aluko-oyebode.com/insights/aluko-oyebode-contributes-guidance-note-on-nigerias-privacy-impact-assessment-regime/): Aluko & Oyebode is pleased to present our deep‑dive publication on Data Protection Impact Assessments (DPIA) in Nigeria, titled “Nigeria – Privacy Impact Assessment,” now featured as a guidance note on OneTrust Data Guidance. This publication, prepared by our Partner Sumbo Akintola and Senior Associate Timothy Ogele, provides a comprehensive analysis of organisations’ obligations to conduct a DPIA under the Nigeria Data - [Regulatory Update: Nigeria Introduces Comprehensive Trademarks (Repeal & Enactment) Bill, 2025](https://aluko-oyebode.com/insights/regulatory-update-nigeria-introduces-comprehensive-trademarks-repeal-enactment-bill-2025/): On 11 November 2025, the Senate completed the first reading of the Trademarks (Repeal & Enactment) Bill, 2025 (the Bill). Sponsored by Sen. Asuquo Ekpenyong (Cross River South), the Bill represents the most significant overhaul of Nigeria’s trademark regime since the 1965 Act (now Cap. T13 LFN 2004). The proposed legislation modernises Nigeria’s trademark system - [CBN Commences AML/CFT/CPF Supervision Pilot for Virtual Asset Service Providers](https://aluko-oyebode.com/insights/cbn-commences-aml-cft-cpf-supervision-pilot-for-virtual-asset-service-providers/): On 31 March 2026, the Central Bank of Nigeria (CBN) announced the commencement of an Anti-Money Laundering, Counter-Financing of Terrorism and Counter-Proliferation Financing (AML/CFT/CPF) Supervision Pilot for a select group of Virtual Asset Service Providers (VASPs). Six entities constitute the first cohort. This note examines the scope of the Pilot, the obligations it imposes on - [Unlocking Value: NCDMB’s Equity Fund Marks a New Frontier for Local Content Investment](https://aluko-oyebode.com/insights/unlocking-value-ncdmbs-equity-fund-marks-a-new-frontier-for-local-content-investment/): Nigerian Content Development and Monitoring Board (“NCDMB”) has announced the launch of a $100,000,000 (One Hundred Million US Dollars) Nigerian Content Equity Fund (“NCE Fund”), an initiative poised to reshape local content funding. This signals a pivotal shift from traditional debt financing, creating new opportunities for investors and growth-focused Nigerian companies to partner with the - [NMDPRA Licenses the First Gas Trading Platform: Legal and Commercial Implications](https://aluko-oyebode.com/insights/nmdpra-licenses-the-first-gas-trading-platform-legal-and-commercial-implications/): In a significant step towards modernising its energy sector, Nigeria has launched its first regulated gas trading and settlement platform. This initiative, anchored by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Securities and Exchange Commission (SEC), operationalises sections 33, 126 and 159 of the Petroleum Industry Act (PIA) 2021 and the - [Aluko & Oyebode recognised for equity, private equity and digital finance work at the IFLR Africa Awards 2026](https://aluko-oyebode.com/insights/aluko-oyebode-recognised-for-equity-private-equity-and-digital-finance-work-at-the-iflr-africa-awards-2026/): Aluko & Oyebode has been recognised at the IFLR Africa Awards 2026, held on 17 March 2026 in Cape Town, South Africa, receiving awards in the following categories: – Impact Deal Award – Equity: Guaranty Trust Share Offer – Deal of the Year – Private Equity: Africa Capital Alliance divestment from Aradel Holdings Company – - [Aluko & Oyebode Shortlisted in Eleven Categories for the IFLR Africa Awards 2021](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-in-eleven-categories-for-the-iflr-africa-awards-2021/): We are pleased to announce that we have been shortlisted for the IFLR Africa Awards 2021. We are finalists in the following categories: National Law Firm of the Year: Nigeria (Capital Markets) National Law Firm of the Year: Nigeria (Loans) National Law Firm of the Year: Nigeria (M&A) National Law Firm of the Year: Nigeria - [Aluko & Oyebode admits Tosin Iyayi and Ngo-Martins Okonmah into the Firm's Partnership](https://aluko-oyebode.com/insights/aluko-oyebode-admits-tosin-iyayi-and-ngo-martins-okonmah-into-the-firms-partnership/): The Partners of Aluko & Oyebode are pleased to announce the admission of Tosin Iyayi and Ngo-Martins Okonmah into the Firm’s Partnership, effective 1 August 2022. Tosin has 15 years' experience in banking litigation, debt recovery, and insolvency, having joined the firm as a law graduate in 2007. Her major clients include some of the - [Striking Off of Companies Names under the Companies and Allied Matters Act 2020](https://aluko-oyebode.com/insights/striking-off-of-companies-names-under-the-companies-and-allied-matters-act-2020/): The recently enacted Companies and Allied Matters Act 2020 (the “CAMA 2020”) has a great innovation which simplifies the process for striking off certain companies from the register of companies. A company can apply to the Corporate Affairs Commission (the “CAC”) for its name to be struck off the CAC register of companies on the - [Nigeria Chapter: IBA Arbitration Committee's Toolkit on Insolvency and Arbitration](https://aluko-oyebode.com/insights/nigeria-chapter-iba-arbitration-committees-toolkit-on-insolvency-and-arbitration/): These questions relate to the effects that insolvency proceedings initiated in Nigeria produce on arbitration commitments (foreign as well as national/local) involving the insolvent party. Part I: Impact of Insolvency Proceedings on Ability to Commence or Continue Arbitration Does the law of Nigeria contain any provision on the effect that the opening of insolvency proceedings - [Banking Regulation in Nigeria](https://aluko-oyebode.com/insights/banking-regulation-in-nigeria/): 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. - [ALN Recognised Among Africa’s Largest Law Firms](https://aluko-oyebode.com/insights/aln-recognised-among-africas-largest-law-firms/): “At ALN, our growth mirrors the ambitions of our clients, and this ranking reinforces our belief that when we combine expertise, connectivity, and purpose, we can help shape a more prosperous Africa. Being ranked among the top law firms on the continent underscores our commitment to excellence, our integrated approach across markets, and the trust - [Aluko & Oyebode Recognised in the 2025 Lexology Index](https://aluko-oyebode.com/insights/aluko-oyebode-recognised-in-the-2025-lexology-index/): Aluko & Oyebode has been recognised in the 2025 Lexology Index (formerly Who’s Who Legal), with 20 lawyers ranked and a total of 88 individual listings across multiple practice areas. Partners and associates of the Firm were recognised across several categories, including Global Elite Thought Leader, Thought Leader, Highly Recommended, Recommended, and Future Leader, reflecting - [Aluko & Oyebode Advises on ₦20 Billion Series II Offer under the FCMB-TLG Private Debt Fund](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-₦20-billion-series-ii-offer-under-the-fcmb-tlg-private-debt-fund/): Aluko & Oyebode (the “Firm“) is pleased to have advised FCMB Asset Management Limited and TLG Capital Investments Limited in connection with the offer for subscription of up to N20 Billion Series II units (the “Offer”) under the N100 Billion FCMB-TLG Private Debt Fund (the “Fund“). The Series II Offer follows an oversubscribed Series I - [ALN Nigeria | Aluko & Oyebode and 17 Partners Receive Top Rankings in Chambers Global Guide 2024](https://aluko-oyebode.com/insights/aln-nigeria-aluko-oyebode-and-17-partners-receive-top-rankings-in-chambers-global-guide-2024/): ALN Nigeria | Aluko & Oyebode has been ranked in seven (7) practice areas in the 2024 edition of Chambers Global Guide for Nigeria, including top-tier recognition for the firm's "West Africa-wide International & Cross-Border Capabilities." Seventeen ALN Nigeria | Aluko & Oyebode partners were also individually recognised as leading practitioners. Published annually, the Chambers - [Banking & Finance Regulatory Update – February 2024](https://aluko-oyebode.com/insights/banking-finance-regulatory-update-february-2024/): This is an update on the circulars and regulations released by the Central Bank of Nigeria (the “CBN”) in February 2024. We have also provided a report of relevant market and legislative updates that are relevant to the financial services sector that occurred during the month of February 2024. CBN REGULATORY UPDATES CBN ISSUES CASH - [ALN Nigeria | Aluko & Oyebode Advises on Landmark USD 1.16 Billion AFC Facility](https://aluko-oyebode.com/insights/advises-on-landmark-usd-1-16-billion-afc-facility/): ALN Nigeria | Aluko & Oyebode Advises on Landmark USD 1.16 Billion AFC Facility ALN Nigeria | Aluko & Oyebode is pleased to have acted as Nigerian counsel to a global syndicate of 11 Lenders in connection with the landmark USD 1.16 billion equivalent, denominated in US dollars, dual currency facility provided to the Africa - [ALN Nigeria | Aluko & Oyebode Retains Top Rankings in The Legal 500 EMEA 2024](https://aluko-oyebode.com/insights/aln-nigeria-aluko-oyebode-retains-top-rankings-in-the-legal-500-emea-2024/): We are pleased to announce that ALN Nigeria | Aluko & Oyebode has once again been ranked as a top-tier Nigerian law firm in the 2024 edition of the Legal 500 EMEA. This guide showcases the best lawyers and law firms across Europe, the Middle East, and Africa. The firm has been recognized in the - [Presidential Directive on Local Content Compliance Requirements 2024](https://aluko-oyebode.com/insights/8005/): Introduction On 28 February 2024, the President of the Federal Republic of Nigeria issued a directive on Local Content Compliance Requirements (“the Directive”) aimed at improving foreign participation in the Nigerian oil and gas industry (“the industry”) and attracting investments into the industry by enabling a conducive operating and investment environment. The Directive was issued - [Uche Nwokocha Recognised as ‘National Practitioner of the Year’ for Nigeria at the Managing IP Awards 2024 EMEA](https://aluko-oyebode.com/insights/uche-nwokocha-managing-ip-2024/): We are pleased to announce that our Partner, Uche Nwokocha, has been recognised as the 'National Practitioner of the Year' for Nigeria at the Managing IP Awards 2024 EMEA ceremony held in London. Our partner attended the gala at the London Hilton on Park Lane yesterday, April 11, 2024. In accepting the award, Uche Nwokocha remarked, "We are - [World IP Day Virtual Roundtable | April 25, 2024 | “Driving Innovation for SDGs”](https://aluko-oyebode.com/insights/world-ip-day-2024-webinar/): We are pleased to invite you to our virtual roundtable (webinar) in celebration of the 2024 World Intellectual Property (IP) Day. This interactive session will explore the crucial role of IP in fostering innovation and creativity for the Sustainable Development Goals (SDGs). The panel of speakers for this virtual event include: - Banke kuku - Founder, Banke - [ALN Nigeria | Aluko & Oyebode Advises on Landmark PPP, Remo Cluster Gains Free Trade Zone Status](https://aluko-oyebode.com/insights/legal-support-special-economic-zone-in-ogun-state/): The Firm is pleased to provide ongoing legal support to ARISE Integrated Industrial Platforms ("IPR") in its landmark public-private partnership with the Ogun State Government of Nigeria. This partnership aims to develop and manage the Remo Economic Industrial Cluster (the "Remo IDC") into a sustainable and integrated special economic zone. The project recently received a - [16 Law Firms Ready to Lock Horns in the 2024 BOA Lawyers League](https://aluko-oyebode.com/insights/16-law-firms-ready-to-lock-horns-in-the-2024-boa-lawyers-league/): ALN Nigeria | Aluko & Oyebode is thrilled to announce the kick-off of the highly anticipated 2024 BOA Lawyers League Football Tournament! This electrifying 12-week showdown starts on May 5th, igniting the field with passion as some of the country’s finest lawyers gear up to face off against formidable opponents in top Nigerian law firms. - [ALN Nigeria | Aluko & Oyebode advises Access Holdings and Coronation Group on their partnership with Safaricom and M-PESA Africa](https://aluko-oyebode.com/insights/advises-access-holdings-and-coronation-safaricom-and-m-pesa/): ALN Nigeria | Aluko & Oyebode (the “Firm”) is pleased to have advised Access Holdings Plc and Coronation Group Limited on their collaboration with M-PESA Africa and Safaricom to create a strategic alliance geared towards advancing financial inclusion across Africa (the “Collaboration”). The Collaboration will see the convergence of Access Holdings’ robust Pan-African banking infrastructure, - [A&O Panthers and Estero FC Battle it Out in Friendly Match](https://aluko-oyebode.com/insights/ao-panthers-and-estero-fc-battle-it-out-in-friendly-match/): Yesterday, the Lagos Preparatory School Ikoyi buzzed with excitement as A&O Panthers (the football team of ALN Nigeria | Aluko & Oyebode) faced off against Estero (the football team of Olaniwun Ajayi LP ) in a thrilling friendly match. Colleagues from both firms as well as their alumni gathered to cheer on their respective teams - [Banking & Finance Regulatory Update – April 2024](https://aluko-oyebode.com/insights/banking-finance-regulatory-update-april-2024/): This is an update on the circulars and regulations released by the Central Bank of Nigeria (the “CBN”) in April 2024. We have also provided a report of the market and case law updates that are relevant to the financial services sector that occurred during the month of April 2024. - [Nigerian Communications Commission Announces Temporary Suspension of the Issuance of Mobile Virtual Network Operator (MVNO) License and other Communications Licenses](https://aluko-oyebode.com/insights/nigerian-communications-commission-announces-temporary-suspension-of-the-issuance-of-mobile-virtual-network-operator-mvno-license-and-other-communications-licenses/): The Nigerian Communications Commission (NCC) on the 17th of May 2024 announced a temporary suspension of new license applications for three communications licenses, namely (a) Interconnect Exchange License, (b) Mobile Virtual Network Operator License and (c) Value-Added Service Aggregator License. - [ALN Nigeria | Aluko & Oyebode advises FCMB Asset Management Limited and TLG Capital Investments Limited on the Establishment of the First Private Debt Fund in Nigeria](https://aluko-oyebode.com/insights/aln-nigeria-aluko-oyebode-advises-fcmb-asset-management-limited-and-tlg-capital-investments-limited-on-the-establishment-of-the-first-private-debt-fund-in-nigeria/): ALN Nigeria | Aluko & Oyebode (the "Firm") is pleased to have advised FCMB Asset Management Limited and TLG Capital Investments Limited on the establishment of a N100 Billion FCMB-TLG Private Debt Fund (the "Fund"), which is the first of its kind in the Nigerian capital markets. Private debt funds focus on extending capital to - [Banking & Finance Regulatory Update – May 2024](https://aluko-oyebode.com/insights/banking-finance-regulatory-update-may-2024/): INTRODUCTION This is an update on the circulars and regulations released by the Central Bank of Nigeria (the “CBN”) in May 2024. We have also provided a report of the market, legislative and case law updates that are relevant to the financial services sector that occurred during the month of May 2024. SYNOPSIS CBN REGULATORY - [Financial Technology: Direct Debit, Blacklisting, Single Obligor Limit and Credit Bureaus](https://aluko-oyebode.com/insights/financial-technology-direct-debit-blacklisting-single-obligor-limit-and-credit-bureaus/): FINANCIAL TECHNOLOGY MONTHLY TIPS REGULATION OF DIRECT DEBITS Direct debits are regulated by the Central Bank of Nigeria (the "CBN"). In 2018, the CBN released the Revised Regulation for Direct Debit Scheme in Nigeria (the "Regulation") which regulates direct. According to the Regulation, direct debit is a cashless method of financial settlement designed to streamline - [Intellectual Property Newsletter Volume 2, 2024](https://aluko-oyebode.com/insights/regulatory-updates-for-ip-in-nigeria/): We bring you our quarterly Intellectual Property (IP) Newsletter, Volume 2, 2024. As we navigate the dynamic landscape of IP, this Newsletter serves as a guide to keep you informed of the latest IP related developments and trends in Nigeria. Activities at the Regulatory Agencies Trade Marks Registry The Trademarks Registry recently announced an increase - [18th Annual International Business Law Conference](https://aluko-oyebode.com/insights/18th-annual-international-business-law-conference/): ALN Nigeria | Aluko & Oyebode was a proud headline sponsor of the 18th Annual International Business Law Conference of the Nigerian Bar Association Section on Business Law (NBA SBL), held from 26th to 28th July 2024 at Abuja Continental Hotel in Abuja. The theme of the conference was 'Survive and Thrive'. The conference aimed - [ALN Nigeria | Aluko & Oyebode Wins 11 Awards at the ESQ Nigerian Legal Awards 2024](https://aluko-oyebode.com/insights/aln-nigeria-aluko-oyebode-wins-11-awards-at-the-esq-nigerian-legal-awards-2024/): ALN Nigeria | Aluko & Oyebode won 11 awards at the ESQ Nigerian Legal Awards 2024, including six Practice-Based Awards, "The Rule of Law Advocacy Award" under the Editor’s Merit Award Category, and four Rising Stars 40 Under 40 Awards. The awards were presented at the annual ESQ Nigerian Legal Awards dinner event held on - [Banking & Finance Regulatory Update – June 2024](https://aluko-oyebode.com/insights/banking-finance-regulatory-update-june-2024/): This is an update on the circulars and regulations released by the Central Bank of Nigeria (the “CBN”) in June 2024. We have also provided a report of market and legislative updates relevant to the financial services sector that occurred within the month of June 2024. Click here to download the full update - [Capital Markets Regulatory Update – Q2 2023](https://aluko-oyebode.com/insights/capital-markets-regulatory-update-q2-2023/): The Aluko & Oyebode Capital Markets Insight is a quarterly report providing updates on laws, regulations, and other activities in the Nigerian capital markets. This edition outlines updates from regulators of different capital market segments in Nigeria for the second quarter of 2024. CBN RELEASES CIRCULAR ON MINIMUM CAPITAL REQUIREMENTS FOR BANKS On 28 March - [Champions Crowned: The 2024 BOA Lawyers’ League Finale](https://aluko-oyebode.com/insights/champions-crowned-the-2024-boa-lawyers-league-finale/): The BOA Lawyers’ League came to a memorable close on July 14, 2024, with an event that encapsulated the spirit of camaraderie, competition, and commemoration that has characterized the league since its inception over 20 years ago. Dr. Abiodun Aluko opened the closing ceremony, highlighting the league's role in fostering unity and sportsmanship among the - [Aluko & Oyebode Recognised Among Top Global Data Law Firms in 2024 GDR 100](https://aluko-oyebode.com/insights/global-data-review/): Lexology - Global Data Review (GDR) has identified and ranked Aluko & Oyebode as one of the world's best data practice law firms in the 2024 GDR 100. The GDR 100 is a global ranking which identifies and profiles the world's best data practice law firms. It is the only global ranking that captures the - [Building for SMEs: Join Us for Our Upcoming Insider Series Webinar with ‘Solape Akinpelu!](https://aluko-oyebode.com/insights/insider-series-with-solape-hervest/): We are hosting ‘Solape Akinpelu, CEO of HerVest and a distinguished leader in gender finance. ‘Solape has dedicated her career to enhancing financial inclusion for African women and their businesses through innovative solutions at HerVest. With over 40,000 members, HerVest empowers women through savings, impact investing, and credit financing, making a significant impact in their - [Nigerian Court Greenlights Single Shareholder for All Private Companies Limited by Shares](https://aluko-oyebode.com/insights/court-greenlights-single-shareholder-for-all-private-companies/): The enactment of the Companies and Allied Matters Act (CAMA) 2020, introduced a significant change in Nigerian corporate law by allowing the registration of private companies with single shareholders. Under the previous law, the incorporation of any company required a minimum of two shareholders. Accordingly, upon the commencement of CAMA 2020, the Corporate Affairs Commission (CAC) - [Banking & Finance Regulatory Update – July 2024](https://aluko-oyebode.com/insights/banking-finance-regulatory-update-july-2024/): This is an update on the circulars and regulations released by the Central Bank of Nigeria (the “CBN”) in July 2024. We have also provided a report of market updates relevant to the financial services sector that occurred within the month of July 2024. SYNOPSIS CBN REGULATORY UPDATES THE CBN ISSUES CIRCULAR ON THE REJECTION - [Navigating the Intricacies of FIDIC Contracts in Nigeria’s Legal Landscape](https://aluko-oyebode.com/insights/navigating-the-intricacies-of-fidic-contracts-in-nigerias-legal-landscape/): We are pleased to share that our partner Ngo-Martins Okonmah, along with senior associates Chizaram Mbah, Adeleresimi Philips-Adeleye, and Joy Mgbado, have contributed their insights on the use of FIDIC forms of contract in Nigeria to the latest issue of Construction Law International. As Ngo-Martins notes, "Although contracts based on the FIDIC forms are enforceable - [ALN Nigeria | Aluko & Oyebode Partners Recognised Across Multiple Categories in 2024 Who’s Who Legal Rankings](https://aluko-oyebode.com/insights/2024-whoswholegal/): We are pleased to announce that several of our partners have been distinguished in the 2024 Who's Who Legal (WWL): Nigeria rankings across multiple categories. Our Of Counsel, Gbenga Oyebode; Chairman of the Management Board, Kofo Dosekun; Managing Partners, Reginald Udom and Joke Aliu; Senior Partners, Tunde Fagbohunlu, SAN, and Olubunmi Fayokun; Partners, Oghogho Makinde, - [Review of Recent Reported Updates on the Taxation of Cryptocurrency in Nigeria](https://aluko-oyebode.com/insights/updates-on-the-taxation-of-cryptocurrency-in-nigeria/): Introduction It was recently reported across various news platforms that the Federal Government, through the Federal Inland Revenue Service ("FIRS"), intends to introduce a new tax law sometime in September 2024. According to the reports, the law is expected to overhaul the current outlook of tax collection and administration in Nigeria and will include regulations - [The Nigerian Electricity Regulatory Commission Issues an Order for the Transfer of Regulatory Oversight of the Electricity Market in Oyo and Edo State](https://aluko-oyebode.com/insights/nerc-issues-an-order-for-the-transfer-of-oversight-to-oserc-eserc/): As part of the process of reformation of the electricity sector in Nigeria, the Nigerian Electricity Regulatory Commission (the “NERC”) pursuant to the powers conferred on it by section 230 of the Electricity Act 2023, issued orders for the transfer of regulatory oversight of the electricity market from NERC to the Oyo State Electricity Regulatory - [Lexology Index 2024: ALN Nigeria | Aluko & Oyebode Leads with 53 Notable Listings](https://aluko-oyebode.com/insights/whos-who-legal-wwl-2024-aln-nigeria-aluko-oyebode-leads-with-53-notable-listings/): We are pleased to announce that ALN Nigeria | Aluko & Oyebode has once again achieved a remarkable total of 53 listings in the 2024 Lexology Index: Nigeria report, marking a significant achievement as the law firm with the highest number of listings in Nigeria this year. Seventeen (17) of our partners have earned prestigious - [ALN Nigeria | Aluko & Oyebode advises on Moniepoint Inc. US$110 Million Series C Round](https://aluko-oyebode.com/insights/aln-nigeria-aluko-oyebode-advises-on-moniepoint-inc-us110-million-series-c-round/): ALN Nigeria | Aluko & Oyebode (the “Firm”) is pleased to have acted as counsel as to Nigerian law to Moniepoint Inc. (“Moniepoint”) in connection with its US$110 million Series C round. Investors in this round included Development Partners International’s African Development Partners III Fund, Google’s Africa Investment Fund, Verod Capital, and Lightrock. The funding - [RSVP: Navigating the Future of Intra-African Trade: Insights and Opportunities with the Guided Trade Initiative](https://aluko-oyebode.com/insights/afcfta-webinar-2024/): ALN Nigeria | Aluko & Oyebode’s International Trade Practice Group is pleased to announce a one-day discourse titled “Navigating the Future of Intra-African Trade: Insights and Opportunities with the Guided Trade Initiative,” scheduled for Tuesday, 19 November 2024. This event will explore key elements of the African Continental Free Trade Area Agreement (AfCFTA), with discussions - [2024 IFLR1000: ALN Nigeria | Aluko & Oyebode Retains Top Tier Rankings in Banking, M&A, and More](https://aluko-oyebode.com/insights/aln-nigeria-aluko-oyebode-tier-1-iflr1000-2024-ranking/): We are pleased to announce our continued recognition as a Tier 1 law firm across five practice areas in the 2024 Sub-Saharan Africa rankings of the International Financial Law Review (IFLR1000) Guide. The practice areas in which we have been recognised are: - Banking - Capital Markets: Equity - Capital Markets: Debt - Projects - - [Supreme Court Landmark Ruling: Nullification of National Lottery Act 2005 and Implications for State-Level Gaming Regulation in Nigeria](https://aluko-oyebode.com/insights/nigeria-lottery-act-supreme-court-ruling-2024/): Landmark Supreme Court ruling nullifies National Lottery Act 2005, redefining state and federal powers in Nigerian lottery regulation. Explore the legal implications for gaming industry stakeholders. - [Third-Party Funding of Arbitrations Seated in Nigeria: Key Considerations for Funders](https://aluko-oyebode.com/insights/third-party-funding-nigeria-arbitration/): One of the key introductions of the Arbitration and Mediation Act, 2023 (AMA) is the provision for Third Party Funding (TPF) of arbitrations seated in Nigeria and arbitration-related proceedings in any court in Nigeria. This represents a significant development considering that previously, the common law principle against maintenance and champerty prevailed in Nigeria. Under the - [ALN Nigeria | Aluko & Oyebode Capital Markets Insight – Q4 2024](https://aluko-oyebode.com/insights/nigerian-capital-markets-insights-q4-2024/): The ALN Nigeria | Aluko & Oyebode Capital Markets Insight is a quarterly publication offering in-depth updates on the laws, regulations, and activities shaping the Nigerian capital markets. This Q4 2024 edition explores critical developments, regulatory updates, and proposals across various segments of the market. Key highlights include: 1. SEC Re-Exposes Rules on Digital Assets - [Our Of Counsel, Gbenga Oyebode Appointed ALN Chairman to Advance Pan-African Vision and Elevate Strategic Growth and Client Impact](https://aluko-oyebode.com/insights/gbenga-oyebode-appointed-aln-chairman/): Gbenga succeeds Dr Cheick Modibo Diarra, who has served as ALN Chairman since 2013. During his tenure, Dr Diarra led ALN through significant growth, expanding its presence to all regions, including West and North Africa, and entering key markets such as Nigeria and Morocco. His leadership was key to establishing ALN as an integrated Alliance - [Analysing the Federal High Court Ruling in the Case of Frank Ijege v. Nigeria Data Protection Commission](https://aluko-oyebode.com/insights/federal-high-court-nullifies-ndpc-guidance-notice/): The Federal High Court of Nigeria (FHC) ruled on 22 November 2024 to nullify certain provisions of the Nigeria Data Protection Commission (NDPC) Guidance Notice on the Registration of Data Controllers and Data Processors of Major Importance (NDPC/HQ/GN/VOL.02/24), issued in February 2024. The Guidance Notice outlined the criteria for determining which organisations qualify as Data - [Digital Assets as “Securities” under Nigerian Law: Regulatory Evolution and the Way Forward](https://aluko-oyebode.com/insights/digital-assets-regulation-nigeria/): Globally, the rate of adoption of digital assets has been on a steady rise, and the growing interest and adoption of digital assets in Nigeria have attracted increased regulatory attention in recent times. What are digital assets? Digital assets are digital representations of value or contractual rights that are facilitated by distributed ledger technology, and - [2023-2024 Corporate Social Responsibility and Pro Bono Impact Report](https://aluko-oyebode.com/insights/2023-2024-corporate-social-responsibility-and-pro-bono-impact-report/): As we reflect on the accomplishments of the past two years, we present an overview of our Corporate Social Responsibility (CSR) and Pro-bono initiatives for 2023 and 2024. In 2024, we built on the solid foundation laid in previous years, launching a range of impactful initiatives that underscored our commitment to social responsibility and community engagement. These efforts, made possible through the enthusiastic participation of our team, have driven meaningful change across diverse sectors, embodying our dedication to creating a positive and lasting impact. - [Our Message on Global Data Privacy Day 2025](https://aluko-oyebode.com/insights/global-data-privacy-day-2025-nigeria/): Global Data Privacy Day 2025 emphasizes the importance of protecting personal data. Learn how Nigeria's NDPC fosters trust and inclusion through data privacy, offering practical steps for individuals and organizations to safeguard privacy and promote transparency. - [Aluko & Oyebode and Partner Ajibola Asolo Recognised in Chambers FinTech Legal Guide 2025](https://aluko-oyebode.com/insights/aluko-oyebode-and-partner-ajibola-asolo-recognised-in-chambers-fintech-2025/): Chambers and Partners has recognised ALN Nigeria | Aluko & Oyebode and our Partner, Ajibola Asolo, in the 2025 edition of the Chambers FinTech Legal Guide. According to the guide, clients describe Ajibola as "a wonderful thought partner and counsel, always seeking to go above and beyond." Chambers FinTech recognises the foremost specialists in payments, - [Toritseju Dottie Named Among Top 100 Influential Women in IP Law (2025)](https://aluko-oyebode.com/insights/toritseju-dottie-top-100-women-ip-law-2025/): We are pleased to announce that our Partner, Toritseju Dottie, has been recognised among the Top 100 Influential Women Leaders in IP Law by the Women’s IP World Magazine. Toritseju has been recognised in the Legal Expertise and Innovation category for her contributions to intellectual property law. According to Women’s IP World Magazine, “Her contributions - [Aluko & Oyebode Ranked Band 1 in Chambers Global 2025 for 20th Year, Leading Nigerian Law Firm in Multiple Categories](https://aluko-oyebode.com/insights/aluko-oyebode-chambers-global-2025-ranking-20th-consecutive-year/): Aluko & Oyebode has been ranked in the Chambers Global 2025 legal guide for the 20th consecutive year, achieving Band 1 rankings in multiple categories and recognition for 14 lawyers across various practice areas in Nigeria. - [Private Wealth Insights – Newsletter](https://aluko-oyebode.com/insights/wealth-preservation-strategies-nigerian-hnwis-2025/): The financial landscape of 2024 proved challenging for Nigerian high-net-worth individuals (HNWIs), being marked by rapidly evolving government policies that triggered significant market volatilities. These developments underscored the critical importance of adopting formal wealth preservation strategies and prompted many HNWIs to reconsider and restructure their wealth holdings and the vehicles through which their assets are - [Our Partner, Babatunde Fagbohunlu SAN Appointed to ICCA Governing Board](https://aluko-oyebode.com/insights/icca-governing-board-appointments-babatunde-fagbohunlu-aisha-abdallah/): We are pleased o announce that Babatunde Fagbohunlu SAN, Senior Partner and Head of Dispute Resolution at Aluko & Oyebode, and Aisha Abdallah, Partner and Head of Dispute Resolution at ALN Kenya | Anjarwalla & Khanna, have been appointed to the Governing Board of the International Council for Commercial Arbitration (ICCA). Babatunde and Aisha’s appointments - [The 20th Edition of the BOA Lawyers’ League Kicks Off in Honour of Bankole Olumide Aluko SAN](https://aluko-oyebode.com/insights/boa-lawyers-league-2025-kickoff/): The 20th edition of the BOA Lawyers’ League kicked off on 2 March 2025, bringing together leading legal professionals in the spirit of sportsmanship and camaraderie. The Tournament which is held annually in honour of one of our founding partners, the Late Bankole Olumide Aluko SAN, stands as a testament to his legacy within the - [Lotteries and Gaming Law and Regulatory Tracker: Nigeria 2025](https://aluko-oyebode.com/insights/nigeria-gaming-regulation-2024-tracker/): The Supreme Court’s landmark decision in AG Lagos State v. AG Federation (2024) has reshaped Nigeria’s gaming regulatory landscape, affirming that states and not the federal government have the authority to regulate gaming within their territories. In response, we have developed the Gaming & Lottery Law and Regulatory Tracker - a comprehensive, state-by-state breakdown of - [An Overview of the FIRS Guidelines on Advance Pricing Agreements 2024](https://aluko-oyebode.com/insights/advance-pricing-agreements-guidelines-nigeria/): The Federal Inland Revenue Service (the “FIRS”) on 27 November 2024 issued an information circular publishing the Guidelines on Advance Pricing Agreements (the “APA Guidelines” or the “Guidelines”) with an effective date of 1 January 2025. The APA Guidelines aim to provide guidance to taxpayers, tax practitioners, and the public on the procedure and conditions - [Capital Markets Insights, Q1 2025 Edition](https://aluko-oyebode.com/insights/capital-markets-insights-q1-2025-edition/): The Aluko & Oyebode Capital Markets Insights is a quarterly report providing updates on laws, regulations, and other activities in the Nigerian capital markets. This edition outlines updates from regulators of different capital market segments in Nigeria for the first quarter of 2025. PRESIDENT BOLA AHMED TINUBU SIGNS INTO LAW THE INVESTMENT AND SECURITIES BILL - [Issuance of the Nigeria Data Protection Act – General Application and Implementation Directive 2025 (GAID)](https://aluko-oyebode.com/insights/general-application-and-implementation-directive/): On Thursday, 20 March 2025, the Nigeria Data Protection Commission (the “Commission”) issued the Nigeria Data Protection Act – General Application and Implementation Directive (“GAID”) pursuant to its powers under the Nigeria Data Protection Act 2023 (“NDPA”). The GAID seeks to enhance the understanding, implementation and effectiveness of the NDPA and is divided into 52 Articles - [Aluko & Oyebode Recognised as a Leading Nigerian Law Firm in the 2025 Legal 500 Rankings](https://aluko-oyebode.com/insights/2025-legal-500-ranking-aluko-oyebode/): We are pleased to announce that Aluko & Oyebode has once again been recognised as a leading Nigerian law firm in the 2025 edition of the Legal 500 EMEA guide, which highlights the most outstanding firms and practitioners across Europe, the Middle East, and Africa. The firm has been ranked across six key practice areas - [The A&O Finance Insights: Court of Appeal Rules Banks Can Freeze Accounts Without Court Order in Fraud Cases](https://aluko-oyebode.com/insights/kuda-microfinance-bank-account-restriction/): In the landmark decision of Kuda Microfinance Bank Ltd v. Amarachi Kenneth Blessing, CA/EK/48/2024, the Court of Appeal, Ekiti Division, held that banks in Nigeria can lawfully freeze customer accounts without first obtaining a court order, provided there is a report of fraud or suspicious activity, and the customer has agreed to such terms. The - [Aluko & Oyebode Wins “Deal of the Year – Debt” at African Banker Awards 2025](https://aluko-oyebode.com/insights/african-banker-awards-2025-deal-of-the-year/): We are pleased to announce that Aluko & Oyebode has been awarded Deal of the Year – Debt at the African Banker Awards 2025, in recognition of our role in the €1.87 billion syndicated debt issuance facility for the Bank of Industry, alongside Africa Finance Corporation and African Export-Import Bank (Afreximbank). Now in its 19th - [Aluko & Oyebode Contributes to New Guide on International Arbitration Trends Across Africa](https://aluko-oyebode.com/insights/insights-international-arbitration-africa-2025/): We are delighted to announce the launch of Key Trends in International Arbitration Across Africa - 2025, a comprehensive guide produced in collaboration with leading African law firms: Webber Wentzel, in association with BLC Robert & Associates (ALN Mauritius), Breakthrough Attorneys (Tanzania), and MMAKS Advocates (ALN Uganda). This publication offers unparalleled insights into the evolving - [Aluko & Oyebode Shortlisted at the African Legal Awards 2025](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-african-legal-awards-2025/): Aluko & Oyebode is pleased to be shortlisted in various categories at the African Legal Awards 2025, a recognition that reinforces our position as a trusted legal advisor and industry leader. This honour reflects our commitment to excellence, innovation, and delivering strategic legal solutions that drive value for our clients. We are also proud to - [Maritime Law | A Review of Rule 14 of COLREGs: The Head-on Situation – Lessons from the KIVELI and AFINA I collision case](https://aluko-oyebode.com/insights/colregs-rule-14-head-on-situation-collision-case-kiveli-afina/): Steering and Sailing Rules (COLREGs Part B - Rules 5, 7, 8) General principles of conduct for vessels Rule 5 requires vessels to maintain a constant and proper lookout by all available means (visual, auditory, electronic aids like radar/ECDIS) for early detection and full appraisal of situations. 2. Rule 7 mandates vessels to use all - [NDPC-GAID Takes Effect on 19 September – Is Your Organisation Prepared?](https://aluko-oyebode.com/insights/ndpc-gaid-takes-effect-on-19-september-is-your-organisation-prepared/): The Nigeria Data Protection Act – General Application and Implementation Directive ("GAID") will become fully effective on 19 September 2025. As shared in our earlier communication in March 2025, the GAID brought to an end the combined application of the Nigeria Data Protection Act (NDPA) 2023, Nigeria Data Protection Regulation (NDPR) 2019 and the NDPR - [Co-authored with BCLP: Effective Dispute Avoidance in Construction and Infrastructure Projects](https://aluko-oyebode.com/insights/joint-publication-with-bclp-effective-dispute-avoidance-in-construction-and-infrastructure-projects/): Disputes seem to be an inevitable feature of complex construction and engineering projects, whether they concern delay, payment, or quality issues, and often a combination of all three. It should also be common ground that such disputes tend to be expensive, lengthy and require substantial management resources without any certainty as to the ultimate outcome. - [ALN Nigeria | Aluko & Oyebode Shortlisted in Multiple Categories for IFLR Africa Awards 2024](https://aluko-oyebode.com/insights/aln-nigeria-shortlisted-iflr-2024/): We are pleased to be shortlisted for the upcoming IFLR (International Financial Law Review) Africa Awards 2024 in multiple categories, including: 1️⃣ Deal of the Year - Loan 2️⃣ Deal of the Year - M&A 3️⃣ Deal of the Year - Domestic 4️⃣ West African Loan Team of the Year 5️⃣ West African M&A Team of the - [Banking & Finance Regulatory Update – January 2024](https://aluko-oyebode.com/insights/banking-finance-regulatory-update-january-2024/): INTRODUCTION This is an update on the circulars and regulations released by the Central Bank of Nigeria (the “CBN”) in January 2024. We have also provided a report of relevant market, legislative, and case law updates that are relevant to the financial services sector that occurred during the month of January 2024. SYNOPSIS CBN REGULATORY - [ALN Nigeria | Aluko & Oyebode Admits Five New Partners](https://aluko-oyebode.com/insights/admits-five-new-partners/): ALN Nigeria | Aluko & Oyebode is pleased to announce the admission of five outstanding lawyers to the Partnership of the firm, effective February 1, 2024. These lawyers bring extensive experience, exceptional expertise, and a proven record of success to our team, which will further strengthen our ability to deliver exceptional service to our clients. - [Consumer Protection in the Fintech Industry ](https://aluko-oyebode.com/insights/consumer-protection-fintechs-nigeria/): Consumer protection refers to measures taken to safeguard the interests of buyers and customers against harmful, degrading, and/or harsh market practices. It also refers to measures that enable consumers make well-informed decisions about their choices and have access to effective redress mechanisms. The Federal Competition and Consumer Protection Commission (“FCCPC”) is the regulator primarily responsible - [In Commemorating the National Privacy Week 2024, Here Are Key Messages from Our Associates](https://aluko-oyebode.com/insights/national-privacy-week-2024/): In commemoration of National Privacy Week 2024, themed "Shaping Tomorrow’s Privacy Landscape," here are important messages from our associates: "Tomorrow's privacy hinges on today's choices. In order to shape the landscape of tomorrow our commitment lies in fostering a culture of data protection, where innovation and security come together to safeguard the digital future of - [Aluko & Oyebode Rebrands as ALN Nigeria | Aluko & Oyebode: A Bold Vision of Transformation and Pan-African Growth](https://aluko-oyebode.com/insights/aluko-oyebode-rebrands/): Lagos, Nigeria - January 2024: Aluko & Oyebode, Nigeria’s leading full-service commercial law firm, has rebranded itself as ALN Nigeria | Aluko & Oyebode, marking a significant milestone on its journey of offering top-tier legal services, pan-African expansion and global prominence. ALN Nigeria | Aluko & Oyebode’s rebranding marks a significant milestone in the Firm’s - [Revolutionising African Trade: Kenya Takes the Lead in Promoting PAPSS](https://aluko-oyebode.com/insights/revolutionising-african-trade-kenya-takes-the-lead-in-promoting-papss/): As the African Continental Free Trade Agreement (AfCFTA) advances through various negotiation phases, several stakeholders have introduced operational tools to facilitate its implementation. One of these tools is the Pan-African Payment and Settlement System (PAPSS), which aims to play a key role in unlocking trade with the African Continental Free Trade Area. PAPSS, which hopes - [Succession and Family Law in Kenya – A Year in Review (2023)](https://aluko-oyebode.com/insights/succession-and-family-law-in-kenya-a-year-in-review-2023/): As we start the new year, we highlight some important legal developments in 2023 which impacts on estate and succession planning and emphasises the need for families to do their estate and succession planning effectively noting the changing legal landscape. Treatment of “Illegitimate Children” under Islamic Law Previously, Kenyan courts held that, under Islamic law, - [Capital Markets Regulatory Update - Q4 2023](https://aluko-oyebode.com/insights/capital-markets-regulatory-update-q4-2023/): The Aluko & Oyebode Capital Markets Insight is a quarterly report providing updates on laws, regulations, and other activities in the Nigerian capital markets. This edition outlines updates from regulators of different capital market segments in Nigeria. FMDQ RENAMES I&E WINDOW, NAFEM On 19 October 2023, the FMDQ Securities Exchange ("FMDQ"), a wholly-owned subsidiary of - [2023 Corporate Social Responsibility and Pro-bono Initiatives Highlight](https://aluko-oyebode.com/insights/2023-corporate-social-responsibility-report/): In 2023, Aluko& Oyebode showcased steadfast commitment to transformative Corporate Social Responsibility (CSR) and Pro-Bono Initiatives. Our strategic approach and the active involvement of our people, defined a year characterized by significant positive change. This report highlights our 2023 CSR and Pro-bono Initiatives, provides insights into the impact of these initiatives. Click here to Read - [Tax Tribunal Rules Withholding Tax on Interest Due and Payable Upon Actual Payment, Not Accrual](https://aluko-oyebode.com/insights/tax-tribunal-rules-withholding-tax-on-interest-due-and-payable-upon-actual-payment-not-accrual/): In Tanzania, the issue of when withholding tax is due has been a subject of debate and interpretation for businesses, tax practitioners, and regulators alike. The principal issue to this discussion is whether withholding tax on interest is due on “actual payment” or on “accrual” of the same. The distinction between the two has significant - [Establishment of the Startup Support and Engagement Portal](https://aluko-oyebode.com/insights/establishment-of-the-startup-support-and-engagement-portal/): On 19 October 2022, former president Muhammadu Buhari signed the Nigeria Startup Act (the Act) into law. Prior to this, the country had no specific, encompassing startup legislation. The Act creates a foundational legal and institutional framework for supporting startups in Nigeria. One of the provisions of the Act is the introduction of a startup - [Our Of Counsel, Gbenga Oyebode, MFR Featured on 'Big Wig Series' - Watch Now](https://aluko-oyebode.com/insights/gbenga-oyebode-big-wig/): Our Of Counsel, Gbenga Oyebode MFR, recently participated in a compelling dialogue hosted by BIGWIG, a distinguished legal documentary series, and moderated by Richard Mofe Damijo. During the conversation, which commenced with Mr. Oyebode discussing his experience as a board member of several corporate entities, he further delved into important milestones in his 40 years - [15 Aluko & Oyebode Lawyers Ranked in the 33rd Edition of the IFLR1000 Guide](https://aluko-oyebode.com/insights/iflr1000-2023-lawyer-rankings/): Fifteen (15) Aluko & Oyebode Lawyers Ranked across eight (8) Practice Areas in the 33rd Edition of the IFLR1000 Guide We are pleased to announce that the latest rankings released by the IFLR1000 Guide have recognised fifteen (15) lawyers from Aluko & Oyebode as leading practitioners. These leading lawyers have earned their rankings based on - [Aluko & Oyebode Retains Tier 1 Rankings in the 33rd Edition of IFLR 1000](https://aluko-oyebode.com/insights/2023-iflr-1000-top-tier-firm-expertise/): We are pleased to announce that Aluko & Oyebode has retained its position as a Top Tier Firm (Tier 1) in eight practice areas in the 2023 International Financial Law Review (IFLR) 1000 Guide: 1️⃣ Banking 2️⃣ Capital Markets: Debt 3️⃣ Capital Markets: Equity 4️⃣ Mergers & Acquisitions (M&A) 5️⃣ Project Development: Energy 6️⃣ Project - [The Business Facilitation Act and Its Impact on the Trademarks Act - Chat with Mark Mordi, SAN](https://aluko-oyebode.com/insights/the-business-facilitation-act-mark-mordi-series/): Presenting a two-part video series where our Partner, Mark Mordi, SAN, thoroughly examines "The Business Facilitation Act and Its Impact on the Trademarks Act." In the first part of the series, Mark, renowned for his expertise in Intellectual Property, will be discussing the essential intersections between these pivotal legal aspects, providing invaluable insights for businesses. - [The Nigeria Data Protection Commission Releases a Guidance Notice on The Filing of Data Protection Compliance Audit Returns (CAR)](https://aluko-oyebode.com/insights/filing-of-data-protection-compliance-audit-returns/): The Nigeria Data Protection Commission (NDPC) has recently published a Guidance Notice on the filing of Data Protection Compliance Audit Returns (CAR). In view of the new cycle of CAR filing, which will commence in 2024, the guidance notice provides Data Controllers and Data Processors with the opportunity to demonstrate accountability and also comply with - [Aluko & Oyebode Advises Tizeti Network Limited In Connection With The Financing Provided By Chapel Hill Denham Infrastructure Debt Fund To Facilitate The Rollout Of State-Of-The-Art Broadband Network Across 15 States in Nigeria](https://aluko-oyebode.com/insights/aluko-oyebode-advises-tizeti-on-financing-for-broadband-network-expansion/): Aluko & Oyebode is pleased to have advised Tizeti Network Limited, West Africa’s pioneer solar-based internet service provider, in connection with the financing provided by Chapel Hill Denham’s Nigeria Infrastructure Debt Fund. The proceeds of the facility will be used to finance the roll out of state-of-the-art broadband network and Tizeti’s expansion into 15 more - [Banking & Finance Regulatory Update - October 2023](https://aluko-oyebode.com/insights/banking-finance-regulatory-update-october-2023/): Synopsis: CBN REGULATORY UPDATES CBN APPOINTS DESIGNATED BANKS FOR THE COLLECTION OF FEES UNDER THE NIGERIAN EXPORT SUPERVISION SCHEME The Central Bank of Nigeria (“CBN”) in its circular dated October 6, 2023, appointed some banks for the collection of fees under the Nigerian Export Supervision Scheme. CBN CLARIFIES THAT THE ENAIRA IS NOT A THREAT - [ALN Ready Business Roadshow - Nigeria Edition Recap](https://aluko-oyebode.com/insights/aln-ready-business-road-show-webinar-nigeria/): The ALN Ready Business Roadshow - Nigeria Edition was a dynamic event that showcased the wealth of investment and business opportunities in Nigeria. The roadshow brought together investors, advisors, and diplomatic missions from around the world to connect with business leaders and decision-makers in Nigeria. The event provided candid insights into the opportunities, challenges, and - [The Nigerian Communications Commission Releases Conditions For Offering Closed User Group (CUG) Services In Nigeria](https://aluko-oyebode.com/insights/ncc-cug-services-in-nigeria/): The Nigerian Communications Commission ("NCC”) has released a new set of conditions for telecom operators offering Closed User Group (“CUG”) Services in the country. CUG services are a type of telecom service that allow mobile subscribers to send text messages or make and receive calls from any member associated within the group or other subscribers - [Who's Who Legal (WWL) 2023: Aluko & Oyebode Leads with 44 Notable Listings](https://aluko-oyebode.com/insights/aluko-and-oyebode-achieves-44-listings-in-who-s-who-legal-2023/): We are pleased to announce that Aluko & Oyebode has achieved a remarkable total of 44 listings in the 2023 Who’s Who Legal (WWL): Nigeria report, marking a significant achievement as the law firm with the highest number of listings in Nigeria this year. Thirteen (13) of our partners have earned prestigious rankings across various - [Download Our Investment Guide to Learn About the Best Investment Opportunities in Nigeria](https://aluko-oyebode.com/insights/investment-guide-nigeria/): After a successful Nigerian edition of the ALN Ready Business Roadshow webinar, we launched the ALN Nigeria Investment Guide. The Nigeria Investment Guide aims to serve as a business-oriented guide that includes a political & economic overview of the country, the regulatory environment in Nigeria, industry/sectors open to or restricted from Foreign Direct Investment (FDI), - [Access Justice Brooklyn: Gbenga Oyebode Awarded Lifetime Achievement Honour for Legal Excellence and Philanthropy](https://aluko-oyebode.com/insights/gbenga-oyebode-lifetime-achievement-award-2023/): Congratulations to Gbenga Oyebode, MFR, our Of Counsel, for being honoured with the 2023 Lifetime Achievement Award at the Access Justice Brooklyn Gala. The event took place on October 11, 2023, at the Brooklyn Museum in New York, where the organisers of the event emphasised that this recognition goes beyond his professional accomplishments. According to - [Intellectual Property Newsletter – Volume 3, 2023](https://aluko-oyebode.com/insights/intellectual-property-newsletter-volume-3-2023/): We bring you our third quarterly Intellectual Property (IP) Newsletter, Volume 3, 2023. Activities at the Regulatory Agencies Trade Marks Registry The Hon. Registrar of Trade Marks, Dr. Adamu Yauri Shafiu, mni, held a meeting with IP Agents on August 1, 2023, to address issues relating to recordal and registration of trademarks. The Hon. Registrar - [How Aluko and Oyebode Celebrated The Teach For Nigeria Week](https://aluko-oyebode.com/insights/supports-educational-initiatives-in-nigeria/): In May 2023, the Lagos office of Aluko and Oyebode had the pleasure of visiting Stadium Senior High School and Ajigbeda Girls Senior High School for the AO Teach For Nigeria week. This annual event is an opportunity for the firm to reaffirm its commitment to supporting educational initiatives that address educational inequality in Nigeria. - [Banking & Finance Regulatory Update - August 2023](https://aluko-oyebode.com/insights/banking-and-finance-regulatory-update-nigeria-august-2023/): Synopsis 1. CBN ANNOUNCES ALLOWABLE LIMIT FOR NAIRA PAYOUTS The Central Bank of Nigeria (“CBN”), by a circular dated August 9, 2023, announced the allowable limit of -2.5% to +2.5% of the Investors and Exporters window average rate of the previous day as the anchor rate for the Naira payout option. 2. CBN INTRODUCES OPERATIONAL - [A Glimpse into Innovation and Regulation: Insights from the Nigerian Fintech Landscape](https://aluko-oyebode.com/insights/annual-fintech-webinar-feature/): Click Here to Download The Capability Statement for our Fintech Practice. In the ever-evolving landscape of African innovation, the intersection of technology, finance, and regulation has become a pivotal touchpoint. At the inaugural annual Aluko & Oyebode Fintech Webinar, our focus over the two-session event with fintech thought leaders and experts delved into critical - [Uche Nwokocha, Mark Mordi SAN, Ayokunle Adetula and Regina Onwumere Listed in WIPR Leaders Directory 2023](https://aluko-oyebode.com/insights/listed-in-wipr-leaders-directory-2023/): World IP Review has listed Aluko & Oyebode Partners Uche Nwokocha and Mark Mordi SAN, as well as Senior Associates Ayokunle Adetula and Regina Onwumere among the world’s leading technology, trademark, and patent lawyers for 2023. The release of the 2023 WIPR Leaders Directory follows an extensive nomination period, in which the publication’s research team - [Privacy Please – Establishment Of A New Data Protection Authority And Transition From The Bureau To The Commission - No 4](https://aluko-oyebode.com/insights/privacy-please-transition-from-the-bureau-to-the-commission/): Introduction Another highlight of the Nigeria Data Protection Act (“NDPA” or the “Act”) is the establishment of a principal statutory authority known as the Nigeria Data Protection Commission (“NDPC” or the “Commission”). Recall that its predecessor, the Nigeria Data Protection Bureau (“NDPB”) was carved out from the National Information Technology Development Agency (NITDA) in 2022 - [Privacy Please - New Legal Basis of Processing](https://aluko-oyebode.com/insights/privacy-please-new-legal-basis-of-processing/): Over the past few weeks, our #PrivacyPlease series has provided a detailed analysis of some key provisions in the Nigeria Data Protection Act (NDPA) 2023. So far, we have discussed the introduction of a 'New Categorization of Data Controller/Processor & the Duty to Register as a Data Controller and Processor of Major Importance' and 'Cross-Border - [FDMQ Launches Exchange-Traded Derivatives Market](https://aluko-oyebode.com/insights/fmdq-launches-exchange-traded-derivatives-market/): FMDQ Securities Exchange Limited, a wholly owned subsidiary of FMDQ Group PLC, has launched its Exchange-Traded Derivatives market ("FMDQ ETD Market"). The ETD market went live on 12 July, 2023 with thirty-six (36) contracts across two (2) products, Federal Government of Nigeria (FGN) Bond Futures and Standard FX Futures. This development aims to introduce exchange-traded - [Regulatory Update | June 2023](https://aluko-oyebode.com/insights/regulatory-update-june-2023/): Aluko & Oyebode Regulatory Update CBN REGULATORY UPDATES 1. CBN RELEASES STATEMENT ON THE OPERATIONAL CHANGES TO THE FOREIGN EXCHANGE MARKET The Central Bank of Nigeria (“CBN”), by a press release dated June 14, 2023, announced the operational changes to the foreign exchange market. 2. CBN ISSUES OPERATIONAL FRAMEWORK FOR eNAIRA PAYMENT OPTION TO RECIPIENTS - [Mufutau Ajayi v Securities and Exchange Commission – Implication for the Jurisdiction of The Investments and Securities Tribunal](https://aluko-oyebode.com/insights/supreme-court-decision-mufutau-ajayi-securities-exchange-commission-nigeria-capital-markets/): Introduction In the recently decided case, Mufutau Ajayi v Securities and Exchange Commission (2023)[1] ("Mufutau"), the Supreme Court handed down a decision on the long-debated question as to whether exclusive jurisdiction over matters relating to capital and securities market operations vest in the Federal High Court (the "FHC") or the Investments and Securities Tribunal (the - [CBN Issues Guidelines for Foreign Bank Representative Offices](https://aluko-oyebode.com/insights/cbn-issues-guidelines-for-offices-of-foreign-banks-in-nigeria/): The Central Bank of Nigeria (“CBN”) on 3 May 2023, issued the approved guidelines for the regulation of representative offices of foreign banks in Nigeria (the “Guidelines”). Representative offices were statutorily recognised under the Banks and Other Financial Institutions Act. Prior to the issuance of the Guidelines, all that was required to operate a representative - [Federal Government Introduces Brown Card](https://aluko-oyebode.com/insights/nigeria-brown-card-permanent-residency-foreigners/): The Federal Government through the Federal Ministry of Interior (the Ministry) has introduced the “Brown Card”, a new legal document that confers permanent residency on qualified foreigners. Prior to the introduction of the brown card, foreign nationals resident in Nigeria had to renew their permanent residence permit in Nigeria every 2 years or 5 years - [Corporate Governance and Directors' Duties in Nigeria: Overview](https://aluko-oyebode.com/insights/corporate-governance-and-directors-duties-in-nigeria-overview/): A Q&A guide to corporate governance law in Nigeria. The Q&A gives a high-level overview of corporate governance trends; the main forms of corporate entity used; the corporate governance legal framework; corporate social responsibility and reporting; board composition and restrictions; directors' remuneration; management rules and authority; directors' duties and liabilities; transactions with directors and - [Africa's Growing Dispute Resolution Landscape report](https://aluko-oyebode.com/insights/africas-growing-dispute-resolution-landscape-report/): Our Managing Partner, Joke Aliu, contributed to the recently published report, "Africa's Growing Dispute Resolution Landscape." This collaborative publication by the UK Ministry of Justice (MOJ) and GREAT Legal Services in partnership with Africa Legal provides a comprehensive analysis of the evolving Alternative Dispute Resolution (ADR) landscape in Africa and its significance in the region. - [Intellectual Property Newsletter – Volume 2, 2023](https://aluko-oyebode.com/insights/intellectual-property-newsletter-volume-2-2023/): We bring to you our second quarterly IP Newsletter, Volume 2, 2023, and also celebrate with the general public on this year’s World IP Day commemoration themed – Women and IP: Accelerating Innovation and Creativity. Activities at the Regulatory Agencies Trade Marks Registry The officials of the Trade Marks Registry held a meeting with - [Federal Ministry of Mines and Steel calls for Expression of Interest for the concession of the National Iron Ore Mining Company (NIOMC)](https://aluko-oyebode.com/insights/federal-ministry-of-mines-and-steel-calls-for-expression-of-interest/): The Federal Government of Nigeria, through the Federal Ministry of Mines and Steel (the Ministry) and in compliance with the Infrastructure Concession Regulatory Commission Establishment Act 2005 and the National Policy on Public-Private Partnership (N4P) intends to involve the private sector in the redevelopment, operation and maintenance of the National Iron Ore Mining Company (NIOMC) - [Nigerian Communications Commission - Online Licence Application Process](https://aluko-oyebode.com/insights/nigerian-communications-commission-online-licence-application-process/): The Nigerian Communications Commission (NCC) updated its licensing procedure on April 19, 2023, to include the steps for filing online licence applications. Although the option for online application submission has always been available on the NCC e-service portal, many applicants preferred to deliver their applications to the NCC physical office address to avoid undue delays, - [Regulatory Update | March 2023](https://aluko-oyebode.com/insights/regulatory-update-march-2023/): Aluko & Oyebode Regulatory Update CBN REGULATORY UPDATES CBN Issues Operational Guidelines for Open Banking in Nigeria CBN Releases an Exposure Draft of The Regulatory Framework for Agent Banking in Nigeria CBN Reissues Old 200, 500 and 1000 Naira Notes as Legal Tender in Nigeria CBN Increases The Monetary Policy Rate From 17.5% to 18% - [World Intellectual Property Day Fireside Chat with Mira Mehta](https://aluko-oyebode.com/insights/wipdchat/): World Intellectual Property is celebrated yearly on April 26. In Commemoration of the day, Aluko and Oyebode will be hosting a webinar with the theme "Women and IP: Accelerating Innovation and Creativity" on April 27 at 2:00 pm (WAT). About our Guest: Mira Mehta is co-Founder and CEO of Tomato Jos – a fully integrated - [Watch the Insider Series - Navigating Nigeria's Proptech Space: Opportunities & Challenges](https://aluko-oyebode.com/insights/watch-the-insider-series-spleet-africa/): The Startup Team at Aluko & Oyebode hosted the 7th edition of the Insider Series on March 30, 2023, on “Navigating Nigeria’s Proptech Space: Opportunities and Challenges.” Our guest speaker, Tola Adesanmi, a Nigerian entrepreneur and the CEO of Spleet Africa, a property technology startup providing affordable co-living and flexible accommodations across Africa, will be - [The Copyright Bill 2022](https://aluko-oyebode.com/insights/copyright-act-2022/): The Copyright Bill, 2022 was assented to by President Muhammadu Buhari on the 17th of March 2023. The Copyright Act 2022 (the Act) repeals the Copyright Act, Cap C28, Laws of the Federation of Nigeria, 2004. The Act addresses the erstwhile major challenges that copyright holders experience in the digital space and provides right holders - [Federal Government Removes Excise Duty For Telecoms Services](https://aluko-oyebode.com/insights/federal-government-removes-excise-duty-for-telecoms-services/): The first quarter of 2023 comes with relief for the telecoms sector as the Federal Government of Nigeria has confirmed its implementation of the exemption of the telecom sector from excise duty as stated in the Finance Act of 2020. The implementation of the duty, if you recall, was opposed by the Minister of Communications - [Aluko & Oyebode International Trade Practice Group announces a one-day discourse on the “Threats and Opportunities of the African Continental Free Trade Area Agreement”](https://aluko-oyebode.com/insights/aluko-oyebode-international-trade-practice-group-announces-a-one-day-discourse-on-the-threats-and-opportunities-of-the-african-continental-free-trade-area-agreement/): Aluko & Oyebode International Trade Practice Group is pleased to announce a one-day discourse on the “Threats and Opportunities of the African Continental Free Trade Area Agreement” on Tuesday, 21 March 2023. We will be discussing practical and theoretical issues arising under the African Continental Free Trade Area Agreement (AfCFTA). There will also be high-level - [Aluko & Oyebode - Data Protection Outlook 2023](https://aluko-oyebode.com/insights/aluko-oyebode-data-protection-outlook-2023/): Introduction Data over the past decade has rightly gained significance and has been termed as the digital gold. It is now considered as one of the most important economic assets for any organization. One of the most important types of data that organizations process is personal data. Personal data means information relating to natural persons - [Aluko & Oyebode Partners and Practice Groups Ranked in the 2023 Chambers Global Guide](https://aluko-oyebode.com/insights/aluko-oyebode-retains-band-1-ranking-in-chambers-global-rankings-for-2023/): We are pleased to announce that Aluko & Oyebode has been recognised in five practice areas in the 2023 edition of Chambers Global Guide, with our Of Counsel, Chairman, and nine other lawyers ranked. Furthermore, our Fintech practice has received a ranking in the Chambers FinTech Guide 2023. The five areas of practice recognised are: - [Listing of Tech Start-ups on the NGX: Recent Developments](https://aluko-oyebode.com/insights/listing-of-tech-start-ups-on-the-ngx-recent-developments/): Introduction In recent times, Africa has experienced significant growth in the area of technological innovation,[1] with Nigeria taking the lead as a popular hub for technology-based (“tech”) start-up investment.[2] In 2022, Nigeria’s technology space, particularly the financial technology (“Fintech”) sector reportedly received one of the most sizeable equity investments in Africa.[3] Notably, a substantial portion of these investments - [Intellectual Property Newsletter - Volume 1, 2023](https://aluko-oyebode.com/insights/intellectual-property-newsletter-volume-1-2023/): We bring you our first quarterly Intellectual Property Newsletter, Volume 1, 2023. As the election season begins, it is expected that the general public will exercise their civic right to vote as citizens of Nigeria. Activities at the Regulatory Agencies Trade Marks Registry The Registrar of Trade Marks, Dr. Shafiu Yauri hosted a routine session - [Of Counsel, Chairman and Senior Partners named Leaders in Who's Who Legal 2023 Ranking](https://aluko-oyebode.com/insights/of-counsel-chairman-and-senior-partners-named-leaders-in-whos-who-legal-2023-ranking/): We are pleased to announce that our Of Counsel, Chairman alongside several of our senior partners have been named global and thought leaders in various practice areas in 2023 ranking by Who's Who Legal - [Analysis of the Securities and Exchange Commission Exposure Rules on Shariah Advisory Services for Non-Interest Capital Markets Products](https://aluko-oyebode.com/insights/analysis-of-the-securities-and-exchange-commission-exposure-rules-on-shariah-advisory-services-for-non-interest-capital-markets-products/): Background On 29 September 2022, the Securities and Exchange Commission (“SEC” or the “Commission”) issued an exposure draft of the New Rules on Shariah Advisory Services for Non-Interest Capital Market Products (the “Draft Rules”). The Draft Rules have been issued further to the Commission’s efforts to promote transparency, while creating a level playing field for - [Aluko & Oyebode announces new co-managing partner, Joke Aliu](https://aluko-oyebode.com/insights/aluko-oyebode-announces-new-co-managing-partner-joke-aliu/): Aluko & Oyebode is pleased to announce the appointment of Olujoke Aliu as Co-Managing Partner of the Firm. Joke Aliu’s appointment is effective January 9th, 2023. Reginald and Joke will jointly take responsibility for the firm’s overall management and guide its strategic direction. Joke is an active member of the Firm’s dispute resolution as well - [Aluko & Oyebode Wins Nigeria Law Firm of the Year Award at the Chambers Africa Awards 2023](https://aluko-oyebode.com/insights/aluko-oyebode-wins-nigeria-law-firm-of-the-year-award-at-the-chambers-africa-awards-2023/): We are delighted to announce that Aluko & Oyebode has been named the Nigeria Law Firm of the Year at the Chambers Africa Awards 2023, which took place on Thursday, January 12, 2023. In announcing the Award winner, Chambers and Partners stated that; “Aluko & Oyebode has a prominent position in the Nigerian market, - [NUPRC Mini-Bid Rounds 2022 Prequalification Criteria Schedule](https://aluko-oyebode.com/insights/nuprc-mini-bid-2022-criteria-document/): Please note that the Nigerian Upstream Petroleum Regulatory Commission has announced the commencement of its 2022 mini-bid round. To prequalify for the Mini-Bid Rounds 2022, you (“your company”) need to meet certain minimum legal, technical, and financial requirements. Please click here to review the NUPRC criteria document. - [Review of the Federal Inland Revenue Service Non-Interest Finance (Taxation) Regulations, 2022](https://aluko-oyebode.com/insights/review-of-the-federal-inland-revenue-service-non-interest-finance-taxation-regulations-2022/): Introduction On 1 April 2022, the Federal Inland Revenue Service (“FIRS”) announced the commencement of the operation of the Non-Interest Finance (Taxation) Regulations 2022 (the “Regulations”). The Regulations, which apply to non-interest financial instruments and institutions operating under the principles of Islamic commercial jurisprudence, were issued to provide a legal framework for the tax regulation - [Aluko & Oyebode Wins NGX Made of Africa 2022 Award for Best Solicitor in Terms of Value of Deals](https://aluko-oyebode.com/insights/ngx-made-of-africa-2022-award-for-best-solicitor/): Aluko & Oyebode is delighted to have won the award for Best Solicitor in Terms of Value of Deals at the inaugural edition of the Nigerian Exchange Limited (“NGX”) Made of Africa Awards. Aluko & Oyebode was the only law firm that received an award at the event, which took place in Lagos on 6th - [Watch A & O Insider Series - 6th Edition with Lumi Mustapha](https://aluko-oyebode.com/insights/watch-a-o-insider-series-6th-edition-with-lumi-mustapha/): Did you miss the A & O Insider Series - 6th Edition 📅? No worries. In case you missed it, you can watch highlights of the conversation between Lumi Mustapha and our Oluwatamilore Sowunmi. The Head of Legal at Founders Factory, Lumi Mustapha recently spoke about the Nigeria Startup act with Our Associate Oluwatamilore Sowunmi - [Gbenga Oyebode Appointed as Chair of Teach For All’s Board of Directors](https://aluko-oyebode.com/insights/gbenga-oyebode-appointed-as-chair-of-teach-for-alls-board-of-directors/): We congratulate our Of Counsel Gbenga Oyebode MFR, on his appointment as Chairman of Teach For All's Board of Directors. Teach for All is a global network of 61 independent, locally led and governed partner organizations that work to accelerate the network's progress in addressing the complex challenges confronting children in disadvantaged communities by developing leadership in classrooms and communities to ensure all children can reach their full potential. - [The Insider Series - 6th Edition with Lumi Mustapha](https://aluko-oyebode.com/insights/the-insider-series-6th-edition-with-lumi-mustapha/): The Startup Practice team at Aluko & Oyebode invites you to the 6th edition of our virtual series, The Insider Series on Friday, 2nd of December, 2022 from 1:00 PM (WAT). It is themed “Beyond the Letter of the Law: Assessing the Startup Act”. Our guest comes from a renowned community of co-founders and early-stage - [The Nigeria Startup Act 2022 - Incentives for Startups](https://aluko-oyebode.com/insights/the-nigeria-startup-act-2022-incentives-for-startups/): DID YOU KNOW? The Nigeria Startup Act 2022 (the "Act") has provisions aimed at incentivising the establishment of innovative startups in Nigeria. The Act also introduces incentives targeted at stakeholders such as angel investors, venture capitalists, private equity funds, accelerators, or incubators involved in the startup ecosystem. Some of such incentives are outlined in this - [Key Highlights from ALN Virtual Tech Conference 2022 - “Decoding the Future of Tech in Africa”](https://aluko-oyebode.com/insights/highlights-from-aln-virtual-tech-conference-2022/): ALN Virtual Tech Conference themed “Decoding the Future of Tech in Africa” was a 3-day conference with eight (8) sessions that brought together a dynamic community of innovators, leading start-ups, SMEs, tech corporates, thought leaders, and other industry stakeholders disrupting the Continent. Day 1 Pulse of Tech in Africa - Moderated by Gbenga Oyebode and - [Africa: Energy transition policies and regulatory developments light up across the continent](https://aluko-oyebode.com/insights/africa-energy-transition-policies/): Across the continent, countries in Africa are gearing up for the energy transition by implementing policy and legislative frameworks that take into account the energy crisis and the need for a renewable, decarbonized, decentralized energy supply that addresses climate change and the commitments made under the Paris Agreement. Ahead of the United Nations Climate Change - [Aluko & Oyebode wins the Frontier Legal Advisor of the Decade at the Private Equity Awards Decade Awards](https://aluko-oyebode.com/insights/pea2022/): Aluko & Oyebode has been named the Frontier Legal Advisor of the Decade at the Private Equity Awards (PEA) 2022 Decade Awards. We are the only Nigerian firm recognised this year at the awards ceremony organised by Private Equity Africa. The PEA Awards is regarded as the ultimate accolade of success in the African private - [Intellectual Property Newsletter - Volume 3 2022](https://aluko-oyebode.com/insights/intellectual-property-newsletter-2022/): Introduction - Intellectual Property Newsletter - Volume 3 2022 We bring you our third quarter Intellectual Property Newsletter, Volume 3, 2022. Activities at the Regulatory Agencies The Federal Government of Nigeria in collaboration with the World Intellectual Property Organization (WIPO) held a three-day stakeholders’ validation workshop on September 13 to 15, 2022, to review the - [The National Health Insurance Authority Act, 2021](https://aluko-oyebode.com/insights/the-national-health-insurance-authority-act-2021/): Introduction The National Health Insurance Authority Act (the “Act”) was passed by the National Assembly in 2021 and assented to by President Muhammadu Buhari in May 2022, thus, launching a drive for an inclusive health care system in Nigeria. The Act repealed the National Health Insurance Scheme Act Cap N42, 2004, which was enacted in - [Aluko & Oyebode contributes to the Whistleblowing in Africa Cross-Jurisdictional Guide by Webber Wentzel](https://aluko-oyebode.com/insights/webber-wentzel-cross-jurisdictional-guide/): We are pleased to have contributed to the whistleblowing cross-jurisdictional guide by Webber Wentzel. The guide focuses on 9 key questions across 8 African jurisdictions, namely: Botswana; Ethiopia; Ghana; Kenya; Mauritius; Mozambique; Nigeria and South Africa providing an analysis of the continent’s position and treatment of whistleblowers demonstrates how far we have come in Africa - [Overview Of Recent Developments in the Nigerian Derivatives Markets](https://aluko-oyebode.com/insights/overview-of-recent-developments-in-the-nigerian-derivatives-markets/): Since January 2011, when the Central Bank of Nigeria ("CBN") released the Guidelines for Foreign Exchange Derivatives and Modalities for CBN FX Forwards,[1] the Nigerian derivatives market has grown steadily. For context, in November 2014, FMDQ Group Plc (previously known as FMDQ OTC Plc) began publishing data on turnover of products traded on its platform. - [Use Cases for Drone Technology: Commercial Use](https://aluko-oyebode.com/insights/use-cases-for-drone-technology/): The continuous development in technology, advances in artificial intelligence, and with drones becoming easily accessible, has led to more commercial adoption and industrial applications. The versatility of the technology is such that it is possible to apply it in several time/cost-effective ways across multiple industries, to carry out functions such as: a. Agriculture – Drone - [Aluko & Oyebode Receives Top Rankings in the 2022 Edition of the IFLR1000 Guide](https://aluko-oyebode.com/insights/iflr-2022-lawyers-ranking/): We are delighted to announce that the IFLR1000 Guide released its latest rankings and recognised 15 Aluko & Oyebode lawyers as leading lawyers. The leading lawyers have been ranked based on their outstanding financial and corporate transactional work in the following categories: Expert Consultant, Market Leader, Notable Practitioner, Highly Regarded, Rising Star Partner, and Rising - [The Nigerian Communication Commission Extends the Deadline for the submission of applications for the Mobile Virtual Network Operators' Licence.](https://aluko-oyebode.com/insights/nigerian-communication-commission-mobile-virtual-network-operators-licence-deadline-application-extension/): On 11 August 2022, the Nigerian Communication Commission (Commission) issued an advertorial for the submission of application for Mobile Virtual Network Operators (MVNO) licenses within 30 days of the advert. However, due to several reasons including: (i) the amplitude of the requirements for the grant of the license (ii) the fact that it is the - [Aluko & Oyebode advises Lily Hospitals Limited, a Leading Hospital group](https://aluko-oyebode.com/insights/aluko-oyebode-advises-lily/): Aluko & Oyebode is delighted to have advised Lily Hospitals Limited (Lily), a leading hospital group in the Midwest and Southern region of Nigeria in relation to the acquisition of the majority shares of an exiting strategic investor (a global healthcare fund) by another global healthcare operator with investments across Africa. The transaction allows Lily - [Key Terms in a Term Sheet](https://aluko-oyebode.com/insights/ayodeji-oyetunde-4/): A term sheet is an initial formal document between a start-up founder and investor(s). It is typically non-binding; although sometimes, it can be. The document would usually summarise the key terms of a funding round and would often form the basis for the provisions of a shareholders’ agreement and the articles of association of the proposed start-up. - [Aluko & Oyebode advises SYNLAB International GmbH on Buy-out of its Nigerian Venture Partners](https://aluko-oyebode.com/insights/synlab-international-gmbh/): Aluko & Oyebode (the “Firm”) is pleased to have recently advised SYNLAB International GmbH, in relation to its buy-out of its Nigerian venture partners in Synlab Nigeria Limited, one of the largest diagnostic and pathology laboratories companies in Nigeria. The closing conditions are almost completed. This is a follow-up to an earlier transaction in which, - [Drone Technology: Uses, Applications and Regulation in Nigeria](https://aluko-oyebode.com/insights/drone-regulation-in-nigeria/): Introduction Unmanned Aerial Vehicles (UAVs) or unmanned aircraft systems more popularly known as “drones” are remote-controlled pilotless aircraft or small flying devices. Drones are typically composed of a combination of computer hardware and software designed for a specific function that works in conjunction with onboard sensors and a global positioning system. While the use of - [Artificial Intelligence in the Legal Sector: Some Use Cases in Contract Review & Litigation Prediction](https://aluko-oyebode.com/insights/artificial-intelligence-in-the-legal-sector/): Introduction Artificial intelligence has found its way into the legal profession and is playing an increasingly transformative role in helping lawyers and clients Whilst application of AI in the legal space is cautionary, areas legal researchers, paralegals, lawyers, and litigators alike are relishing the great support it offers. Notably, there will always be concerns about - [Negotiating Your Dispute Clause | Chat Legal with A & O | Episode II](https://aluko-oyebode.com/insights/negotiating-your-dispute-clause-podcast/): On this episode of the ‘Chat Legal with A & O’, Associates with the Litigation Practice, Associates Joy Mgbado, and Olamide Sholabomi discuss tips and recommendations with Negotiating Your Dispute Clause. The importance of a clearly drafted dispute resolution clause should never be underestimated. It may have serious implications for how disputes arising under a - [Aluko & Oyebode Retains Top Rankings in the 2022 IFLR1000 Guide](https://aluko-oyebode.com/insights/2022-iflr1000-guide/): We are pleased to announce that Aluko & Oyebode has maintained its ranking as a Top Tier Firm (Tier 1) in eight practice areas in the 2022 International Financial Law Review [ IFLR ] 1000 Guide: 1️⃣ Banking 2️⃣ Capital Markets: Debt 3️⃣ Capital Markets: Equity 4️⃣ Mergers & Acquisitions 5️⃣ Project Development: Energy 6️⃣ Project Development: - [Demystifying FinTech | Chat Legal with A & O Podcast](https://aluko-oyebode.com/insights/demystifying-fintech-podcast/): The global Nigerian law firm, Aluko & Oyebode, share a new podcast series 'Chat Legal with A & O' where the attorneys across the practice share insights, trends, and outlook on pressing issues and development in key jurisdictions in Nigeria and around the globe. The multimedia format legal podcast is titled 'Chat Legal with A - [Aluko & Oyebode Wins 4 Awards at the IFLR Africa Awards 2022](https://aluko-oyebode.com/insights/iflr-africa-awards/): Aluko & Oyebode is pleased to have won 4 awards at the IFLR Africa Awards 2022 in the following categories: Capital Markets Deal of the Year (Access Bank Tier-1 Eurobonds) Project Finance Firm of the Year (Nigeria) Lifetime Achievement Award - Gbenga Oyebode, MFR IFLR Women Dealmakers Hall of Fame - Olubunmi Fayokun It is - [Re-Inauguration of Task Force for Enforcement of Expatriate Quota](https://aluko-oyebode.com/insights/nigeria-expatriate-quota-taskforce/): The Federal Government through the Federal Ministry of Interior (the Ministry) has re-inaugurated a 21-member expanded taskforce (the Taskforce”) as part of its ongoing efforts to ensure strict enforcement of the Government’s expatriates’ quota policy (the “EQ policy”). The aim is to end the alleged abuses and gross violations of the policy. The Taskforce was - [Artificial Intelligence in the Health Sector: Some Use Cases in Drug Discovery & Disease Identification](https://aluko-oyebode.com/insights/artificial-intelligence-health-sector/): There has been a surge of interest in the use of artificial intelligence (AI) in healthcare in recent years. Artificial intelligence (AI) has the potential to transform the field of medicine. To be specific, AI will most likely improve access to healthcare and how patients are treated, but it will also optimize resource allocation, allowing health systems to function more effectively and efficiently. The potential for AI to reshape the field of healthcare, to aid in diagnosis and enable a more personalized precision approach to medicine is limitless. - [Money Laundering (Prevention & Prohibition) Act 2022](https://aluko-oyebode.com/insights/money-laundering-prevention-prohibition-act/): Overview of the Money Laundering (Prevention and Prohibition) Act 2022 On 12 May 2022, the President of the Federal Republic of Nigeria, Muhammadu Buhari as part of the efforts to strengthen the AML/CFT regime in Nigeria signed into law the following Bills; (i) Money Laundering (Prevention and Prohibition) Bill, 2022 (ii) Terrorism (Prevention and Prohibition) - [Artificial Intelligence in the Media and Entertainment Industry: Some Use Cases in Content Personalization & Search Optimization](https://aluko-oyebode.com/insights/artificial-intel-in-nigeria-issue-1/): Introduction The distribution of content in the global media and entertainment industry is rapidly changing. Due to the increasing accessibility of content creation technologies such as high-resolution cameras, content development software, and smartphones, almost anybody can now create, publish, and share written, audio, and video content. This trend is further accelerated by the proliferation of - [CBN Issues the Risk-based Cybersecurity Framework and Guidelines for Other Financial Institutions](https://aluko-oyebode.com/insights/cbn-issues-the-risk-based-cybersecurity-framework-and-guidelines-for-other-financial-institutions/): Introduction On 29 June 2022, the Central Bank of Nigeria (the “CBN”) approved and issued the risk-based cybersecurity framework guidelines for other financial institutions (“OFIs”) in Nigeria (the “Guidelines”). The Guidelines have been issued further to the CBN’s effort to strengthen the cyber resilience of OFIs especially following the increase in the number and sophistication - [Individual Licence Application Requirements](https://aluko-oyebode.com/insights/individual-licence-application-requirements/): What has changed? The NCC has updated the list of documents to be submitted for Individual Licenses in the following categories: The general requirements for all Individual License applicants All Automated Vehicle Tracking Service (AVTS) applicants (in addition to the general license requirements) All VAS (Content Service using Short Code) applicants (in addition to the - [Aluko & Oyebode Joins ALN - Africa’s Leading Alliance of Law Firms](https://aluko-oyebode.com/insights/aluko-oyebode-joins-aln-africas-leading-alliance-of-law-firms/): We are delighted to announce that Aluko & Oyebode has joined ALN - Africa’s leading alliance of law firms - making a bold statement about our modern strategic vision and our role in the transformational shifts happening in the way excellent legal services are delivered in Africa. We are now ALN’s firm of choice for - [Intellectual Property Newsletter - Volume 2 2022](https://aluko-oyebode.com/insights/intellectual-property-newsletter-volume-2-2022/): We bring you our second quarter Intellectual Property Newsletter Volume 2, 2022 Activities at the Regulatory Agencies At the recently concluded training by the Nigerian Trademarks Registry, the Registrar of Trademarks, Dr Shafiu Adamu Yauri assured stakeholders that a taskforce committee has been set up to ensure that matters are swiftly resolved in order to - [Restriction of The Issuance of Visa Approvals to Expatriate Professionals](https://aluko-oyebode.com/insights/ayodeji-oyetunde-2-2/): On the 14th of April 2022, the Director-General of the National Office for Technology Acquisition and Promotion (”NOTAP”), Dr. Dan-Azumi Ibrahim (the “DG”), in a press conference on the public presentation of indigenous software for the implementation of Executive Order 5 (the “Order”) executed by the President of the Federal Republic of Nigeria on February - [2022 International Women’s Day Celebration](https://aluko-oyebode.com/insights/2022-international-womens-day-celebration/): On 9th March 2022, Aluko & Oyebode hosted the 4th edition of its International Women’s Day celebration themed, “#BreakTheBias”. Discussions centred around challenging the status quo of women in the workforce. SPEAKERS Rolake Akinkugbe-Filani, Chief Commercial Officer, Mixta Africa Dr. Ola Brown, Founder, Flying Doctors Healthcare Investment Company MODERATOR Ife Omotola, Associate, Aluko & Oyebode - [Aluko & Oyebode advises on Two Award Winning Transactions, Designated Deals of the Year at the Bonds, Loans & Sukuk Africa Awards 2022](https://aluko-oyebode.com/insights/aluko-oyebode-wins-two-prestigious-awards-at-the-bonds-loans-sukuk-awards-2022/): We are delighted to have advised on two award winning transactions - which won the International Bank/FI Bond Deal of the Year and the Structured Loan Deal of the Year Awards at the Bonds, Loans & Sukuk Africa Awards 2022. Aluko & Oyebode is delighted to have advised Access Bank Plc (the “Bank”) in connection - [SEC Issues Circular on the Requirement of Obtaining Letter of 'No Objection' From Relevant Primary Regulators](https://aluko-oyebode.com/insights/sec-issues-circular-on-the-requirement-of-obtaining-letter-of-no-objection-from-relevant-primary-regulators/): On 3 March 2022, the Securities and Exchange Commission ("SEC" or the "Commission") released a circular providing further regulatory clarity as it pertains to the procurement of 'No Objection' letters from issuers' primary regulators (the "Circular"). In relevant circumstances, 'No Objection' letters are a prerequisite for the approval of capital market transactions by the Commission. - [Aluko & Oyebode recognised as a leading firm in Chambers Global 2022](https://aluko-oyebode.com/insights/aluko-oyebode-recognised-as-a-leading-firm-in-chambers-global-2022/): We are pleased to announce that Aluko & Oyebode has been ranked in five (5) practice areas in the 2022 edition of Chambers Global. Additionally, the Firm received the most Band 1 practice rankings and the most individual rankings for a law firm in Nigeria. 5 Practice Area Rankings Banking & Finance (Band 1) Corporate/Commercial - [Bankole Olumide Aluko, SAN: Recollections](https://aluko-oyebode.com/insights/recollections-bankole-olumide-aluko-san/): A few weeks ago, I was given the assignment of writing about a man I had never met. The brief was to interview his family members, colleagues, friends and business associates, and to tell his story to those who did not have the opportunity of meeting him. The man is Bankole Olumide Aluko (“BOA” or - [Bankole Olumide Aluko, SAN – An Irreplaceable Icon](https://aluko-oyebode.com/insights/bankole-olumide-aluko-san-irreplaceable-icon/): Bankole Olumide Aluko, SAN (“BOA”) was born on August 2,1956, at Massey Street Hospital in Lagos, Nigeria to the family of Mrs. Janet Adebisi and Dr. Timothy Mofolorunso Aluko. He was their fourth child. BOA’s early education was at Maryhill Convent School in Ibadan. When his Common Entrance (as it was then called) results were - [Introduction of New Expatriate Quota Rules in Nigeria](https://aluko-oyebode.com/insights/introduction-of-new-expatriate-quota-rules-in-nigeria/): The Minister of Interior the (“Minister”), recently issued a directive introducing new processes and guidelines for the implementation and regulation of expatriate quota approvals in Nigeria. The additional guidelines are intended to ensure the effective monitoring and utilization of the quota approvals granted to organisations with business operations in Nigeria. The processes introduced are highlighted - [Notification of Movement of Expariate Employees](https://aluko-oyebode.com/insights/notification-of-movement-of-expariate-employees/): The Nigerian Immigration Services (“NIS”), as part of its responsibilities to control the entry and departure of persons in and out of Nigeria, has introduced a new process with respect to the travels out of and into Nigeria by expatiates under a valid quota position issued by the NIS. All companies are now required to - [A Review of Nigeria’s Climate Change Act, 2021](https://aluko-oyebode.com/insights/a-review-of-nigerias-climate-change-act-2021/): Introduction On 18 November 2021, President Muhammadu Buhari signed into law the Climate Change Bill 2021 following the passing of the bill by the Senate just a month earlier on 13 October 2021. The Climate Change Act 2021 (the “Act”) has been described as one of Nigeria’s life-changing laws. Given the increasing need for environmental - [Analysis of the New Rules & Regulations of the Securities and Exchange Commission on Mergers, Takeovers and Acquisitions: A New Dispensation for Public Companies II](https://aluko-oyebode.com/insights/analysis-of-the-new-rules-regulations-of-the-securities-and-exchange-commission-on-mergers-takeovers-and-acquisitions-a-new-dispensation-for-public-companies-ii/): The Securities and Exchange Commission (“SEC” or the “Commission”) on 30 August 2021 introduced new rules to the provisions on mergers, takeovers and acquisitions (the “New Rules”), amending the provisions of the SEC Rules and Regulations 2013 (as amended) (the “SEC Rules”). In our last issue, we analysed the impact of the New Rules on - [Aluko & Oyebode Partner, Mark Mordi, Elevated to the cadre of Senior Advocate of Nigeria (SAN)](https://aluko-oyebode.com/insights/aluko-oyebode-partner-mark-mordi-elevated-to-the-cadre-of-senior-advocate-of-nigeria-san/): We are pleased to announce the conferment of our Partner, Mark Mordi, FCIArb, with the rank of Senior Advocate of Nigeria (SAN) by the Nigerian Legal Practitioners Privileges Committee. He was sworn in by the Chief Justice of Nigeria at the Supreme Court, Abuja on 8 December 2021. Mark joined Aluko & Oyebode in 1996 - [Going, Going, - The Nigerian Communications Commission (NCC) Proposes to Auction the 5G Spectrum](https://aluko-oyebode.com/insights/going-going-the-nigerian-communications-commission-ncc-proposes-to-auction-the-5g-spectrum/): The Nigerian Communications Commission (NCC) is charged with the responsibility of introducing innovative services and practices in the Nigerian telecommunications industry, in accordance with international best practices and trends. All things going as planned, Nigeria, will by January 2022 join the league of countries that have deployed 5G. A planned week-long auction will take place - [Aluko & Oyebode wins Law Firm of the Year at the ESQ Nigerian Legal Awards 2021](https://aluko-oyebode.com/insights/aluko-oyebode-wins-law-firm-of-the-year-at-the-esq-nigerian-legal-awards-2021/): We are delighted to announced that Aluko & Oyebode has been named Law Firm of the Year (Large Practice) at the ESQ Nigerian Legal Awards 2021. This marks the second consecutive year that the Firm has received this prestigious recognition. The Firm received the following awards: Corporate and Commercial Team of the Year Mining Team - [Aluko & Oyebode set to engage Secondary School Students in Poetry Recitals](https://aluko-oyebode.com/insights/aluko-oyebode-set-to-engage-secondary-school-students-in-poetry-recitals/): Register Today>> Aluko & Oyebode will be partnering with Sterling Bank, Sterling One Foundation, Flutterwave, Wema Bank, Chapel Hill Denham and Ouida Books to launch the maiden edition of its poetry competition themed “Nigeria Of Our Dreams” on Friday, 19th November 2021. The aim of this competition is to restore dialogue between poetry and the - [PENCOM Issues an Operational Framework for Non-Interest Ethical Fund](https://aluko-oyebode.com/insights/pencom-issues-an-operational-framework-for-non-interest-ethical-fund/): On 28 October 2021, the National Pension Commission (the “Commission”) announced the introduction of the Non-Interest Fund (Fund VI) (the “Non-Interest Fund “) and issuance of its Operational Framework for the Non-Interest Fund (Fund VI) (the “Operational Framework”). The introduction of the Non-Interest Fund is in furtherance of the Commission’s objective to provide diverse investment - [Aluko & Oyebode advises the Edo State Government on the Enactment of the Edo State College of Nursing Sciences Bill 2021 by the Edo State House of Assembly.](https://aluko-oyebode.com/insights/aluko-oyebode-advises-the-edo-state-government-on-the-enactment-of-the-edo-state-college-of-nursing-sciences-bill-2021-by-the-edo-state-house-of-assembly/): Aluko & Oyebode is pleased to have advised the Edo State Government on the repeal of the Edo State College of Nursing and Midwifery Law 2015 and enactment of the Edo State College of Nursing Sciences Law. The Firm, in collaboration with relevant policymakers in the health sector in Edo State, reviewed and drafted the - [Aluko & Oyebode admits Adeolu Idowu into the Firm's Partnership](https://aluko-oyebode.com/insights/aluko-oyebode-admits-adeolu-idowu-into-the-firms-partnership/): The Partners of Aluko & Oyebode are pleased to announce the admission of Adeolu Idowu into the Firm’s Partnership. Adeolu, who will head our Governance Risk & Compliance (GRC) practice, is a seasoned expert with experience across several sectors including Oil & Gas and Telecommunications. At different times, she was a top management executive in - [Aluko & Oyebode wins big at the IFLR Africa Awards 2021](https://aluko-oyebode.com/insights/aluko-oyebode-wins-big-at-the-iflr-africa-awards-2021/): Aluko & Oyebode has been named National Law Firm of the Year (Nigeria) at the IFLR Africa Awards 2021, announced on Thursday, 9 September 2021. The Firm received the highest number of awards for a law firm in Nigeria: National Law Firm of the Year (Nigeria) Nigerian Law Firm of the Year (M&A) Nigerian Law - [Aluko & Oyebode wins at 2021 African Legal Awards](https://aluko-oyebode.com/insights/aluko-oyebode-wins-at-2021-african-legal-awards/): We are honoured to have received the Competition and Regulatory Team of the Year and Property and Construction Team of the Year (African Firm) Awards at the prestigious African Legal Awards 2021. The awards ceremony was held virtually on Friday, 3 September 2021 and it was hosted by Legal Week and the Corporate Counsel Association - [Aluko & Oyebode Receives Top Rankings in the 31st Edition of the IFLR1000 Guide](https://aluko-oyebode.com/insights/aluko-oyebode-receives-top-rankings-in-the-31st-edition-of-the-iflr1000-guide/): We are delighted to announce that Aluko & Oyebode has maintained its Tier 1 rankings in the latest edition of IFLR1000. The Firm has been recognised for its outstanding work in multiple practice areas including Tier 1 rankings in the following: Banking Capital Markets: Debt Capital Markets: Equity Mergers & Acquisitions Project Development: Infrastructure Project - [Legality of the Imposition of a Fine on Soko Lending Company Limited by the National Information Technology Development Agency](https://aluko-oyebode.com/insights/legality-of-the-imposition-of-a-fine-on-soko-lending-company-limited-by-the-national-information-technology-development-agency/): On 17 August 2021, NITDA issued a press release stating that it had imposed a monetary sanction of ₦10,000,000 (Ten Million Naira), amongst other penalties, on an online lending platform, Soko Lending Company Limited (Soko Loans), for privacy invasion. These penalties were imposed on Soko Loans due to NITDA receiving a series of complaints against - [An Overview of the Petroleum Industry Act, 2021](https://aluko-oyebode.com/insights/an-overview-of-the-petroleum-industry-act-2021/): Background and Introduction of the Petroleum Industry Act, 2021 On 16 August 2021, the President of the Federal Republic of Nigeria assented to the Petroleum Industry Act, 2021 (the “Act”). The key objective of the Act is to restructure and transform the Nigerian oil and gas industry. The Act provides legal, governance, regulatory and fiscal - [CBN Issues Exposure Draft of the Risk-Based Cybersecurity Framework and Guidelines for Other Financial Institutions](https://aluko-oyebode.com/insights/cbn-issues-exposure-draft-of-the-risk-based-cybersecurity-framework-and-guidelines-for-other-financial-institutions/): Introduction On 13 August 2021, the Central Bank of Nigeria (the “CBN”) issued an exposure draft of the risk-based cybersecurity framework guidelines for other financial institutions (“OFIs”) in Nigeria (the “Draft Guidelines”). The Draft Guidelines have been issued further to the CBN’s effort to strengthen the cyber resilience of OFIs especially following the increase in - [Resuscitation of the National Agency for Science and Engineering Infrastructure Levy](https://aluko-oyebode.com/insights/resuscitation-of-the-national-agency-for-science-and-engineering-infrastructure-levy/): The Federal Government of Nigeria (“FGN”) has directed the Federal Inland Revenue Service (“FIRS”) to collect and remit the statutory deductions due to the National Agency for Science and Engineering Infrastructure (“NASENI”) pursuant to the National Agency for Science and Engineering Infrastructure Act, Cap N3, Laws of the Federation of Nigeria, 2010 (the “Act”). The - [CBN Issues Exposure Draft of Guidelines for Regulation and Supervision of Credit Guarantee Companies in Nigeria](https://aluko-oyebode.com/insights/cbn-issues-exposure-draft-of-guidelines-for-regulation-and-supervision-of-credit-guarantee-companies-in-nigeria/): On the 4th of August 2021, the Central Bank of Nigeria (the “CBN”) issued an exposure draft of the guidelines for the regulation and supervision of credit guarantee companies (“CGC”) in Nigeria (the “Draft Guidelines”). The Draft Guidelines have been issued further to the CBN’s effort to improve access to lending for micro, small, and - [CBN Issues Guidelines for Licensing and Regulation of Payments Service Holding Companies in Nigeria](https://aluko-oyebode.com/insights/cbn-issues-guidelines-for-licensing-and-regulation-of-payments-service-holding-companies-in-nigeria/): In December 2020, the Central Bank of Nigeria (CBN) issued the circular on new licence categorisation for the Nigerian payments systems (the “New Categorisation Circular”). Pursuant to the New Categorisation Circular, companies seeking to combine activities under the switching and mobile money operations (MMO) are only permitted to do so only under a holding company - [CBN Discontinues the Sale of Foreign Currency to Bureau de Change Operators](https://aluko-oyebode.com/insights/ayodeji-oyetunde-2/): Following the conclusion of the monetary policy committee meeting held on 27 July 2021, the Governor of the Central Bank of Nigeria (the “CBN”) Godwin Emefiele announced the immediate discontinuance of the sale of foreign currency to bureau de change (BDC) operators as well as the immediate suspension of the issuance of new licences to - [Watch: Fintech/PE Fireside Chat on the Emergence of Digital Loans: Challenges, Prospects and Economic Outlook](https://aluko-oyebode.com/insights/watch-fintech-pe-fireside-chat-on-the-emergence-of-digital-loans-challenges-prospects-and-economic-outlook/): WATCH>> Aluko & Oyebode hosted its inaugural Fintech/Private Equity Fireside Chat on 16th July 2021. This edition themed, "The Emergence of Digital Loans: Challenges, Prospects and Economic Outlook", featured Fehintolu Olaogun (CEO and Co-Founder, CredPal). Discussions centred around the restrictive regulatory approach in relation to various Fintech products, licensing requirements, business management tools for a - [Aluko & Oyebode Shortlisted for The African Legal Awards 2021](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-for-the-african-legal-awards-2021/): We are pleased to be shortlisted in twelve (12) categories for The African Legal Awards 2021, the most for a law firm in Nigeria. African Law Firm of the Year – Large Practice Banking & Finance Team of the Year - Large Firm Capital Markets Team of the Year Competition and Regulatory Team of the - [CBN issues Revised Guidelines on Mobile Money Services in Nigeria](https://aluko-oyebode.com/insights/the-central-bank-of-nigeria-the-cbn-issued-a-new-regulatory-framework-on-mobile-money-services-in-nigeria/): On the 9th of July 2021, the Central Bank of Nigeria (the “CBN”) issued a new regulatory framework on mobile money services in Nigeria (the “2021 Guidelines") replacing the guidelines on mobile money services which were issued in 2015. While the 2021 Guidelines retain the existing models (bank /non-bank-led) that may be implemented by mobile - [Aluko & Oyebode admits Ajibola Asolo into the Firm's Partnership](https://aluko-oyebode.com/insights/aluko-oyebode-admits-ajibola-asolo-into-the-firms-partnership/): We are pleased to announce the admission of Ajibola Asolo, an alumnus, into the Partnership of Aluko & Oyebode, with effect from 1 June 2021. Ajibola, who is joining our Capital Markets practice, is a seasoned financial markets expert with experience in capital markets, structured and financial products, financial regulation, corporate governance, transaction and investment - [Pleading and Particularization of Special Damages in Tortious Claims: A Review of the decision of the Supreme Court in Onyiorah v. Onyiorah](https://aluko-oyebode.com/insights/pleading-and-particularization-of-special-damages-in-tortious-claims-a-review-of-the-decision-of-the-supreme-court-in-onyiorah-v-onyiorah/): Introduction The term “damages” generally refers to the pecuniary compensation which the law awards to a person for the injury he has sustained by reason of the act or default of another whether that act or default is a breach of contract or tort.[1] It is one of the remedies available to a claimant under - [IFLR1000 Women Leaders 2021](https://aluko-oyebode.com/insights/iflr1000-women-leaders-2021/): We are pleased to announce that our Chairman, Kofo Dosekun, and Partners, Olubunmi Fayokun, and Oghogho Makinde, have been recognised as IFLR1000 Women Leaders for 2021. Women Leaders are the leading female transactional lawyers in the world. These lawyers have impressive track records and are consistently recommended by clients and peers for the quality of their advice and service. - [Major Asset Transactions](https://aluko-oyebode.com/insights/major-asset-transactions/): The Companies and Allied Matters Act, 2020 (“CAMA 2020”) has introduced some material changes to the regulation and governance of companies in Nigeria. One of such changes is the inclusion of major asset transactions. CAMA 2020 has established a procedure for companies to approve “major asset transactions.” CAMA 2020 defines a major asset transaction as - [Persons with Significant Control in Companies](https://aluko-oyebode.com/insights/persons-with-significant-control-in-companies/): The Companies and Allied Matters Act, 2020 (“CAMA 2020”) has introduced the concept of significant control reporting into Nigerian company law. Persons with significant control in any company are now required to disclose to the company the particulars of such control within 7 (seven) days of acquiring such significant control. Companies, must in turn, notify - [Watch: Webinar on IP and SMEs - Leveraging on IP Assets for Market Penetration and Business Growth](https://aluko-oyebode.com/insights/webinar-ip-and-smes-leveraging-on-ip-assets-for-market-penetration-and-business-growth/): Watch on YouTube>> To commemorate World Intellectual Property Day 2021, Aluko & Oyebode hosted a webinar themed "IP and SMEs - Leveraging on IP Assets for Market Penetration and Business Growth". Discussions included: Key Intellectual Property considerations for SMEs Protection mechanisms for IP Assets of SMEs SMEs strategies for dispute resolution SMEs market penetration strategies - [Incorporation of Company Limited by Guarantee - Attorney General’s Consent](https://aluko-oyebode.com/insights/incorporation-of-company-limited-by-guarantee-attorney-generals-consent/): Following the enactment of the Companies and Allied Matters Act (“CAMA”) 2020, there has been positive changes to the incorporation process of companies limited by guarantee (Ltd/Gte). The process is largely the same as in the repealed CAMA, however requirement and process for procuring the consent of the Attorney General of the Federation has been - [Audit Committees](https://aluko-oyebode.com/insights/audit-committees/): The Companies and Allied Matters Act, 2020 (“CAMA 2020”) has changed the previous provisions in the repealed CAMA on the composition of the statutory audit committee for public companies. In the repealed CAMA, the composition of the audit committee of public companies was six (6) members with an equal number of shareholders and directors. However, - [Court Declares the Taxes and Levies Act 2004 Unconstitutional for Containing an Ouster Clause](https://aluko-oyebode.com/insights/court-declares-the-taxes-and-levies-act-2004-unconstitutional-for-containing-an-ouster-clause/): In a bid to streamline the taxes and levies collectable by each tier of government within the Nigerian federation and also provide a legal regime to check arbitrary imposition of taxes and levies on individuals and businesses, the then Head of State, General Abdulsalami Abubakar, promulgated the Taxes and Levies (Approved List of Collection) Decree - [Aluko & Oyebode Retains Top Rankings in The Legal 500 EMEA 2021](https://aluko-oyebode.com/insights/aluko-oyebode-retains-top-rankings-in-legal-500-emea-2021/): We are delighted to announce that Aluko & Oyebode has been ranked a top-tier Nigerian law firm in the 2021 edition of the Legal 500 EMEA, a guide to the best lawyers and law firms across Europe, the Middle East and Africa. The Firm was ranked in six (6) main practice areas that are researched and - [The Nigeria Immigration Service Requires Expatriates to Present Evidence of Tax Payment for Renewal of Immigration Permits](https://aluko-oyebode.com/insights/the-nigeria-immigration-service-requires-expatriates-to-present-evidence-of-tax-payment-for-renewal-of-immigration-permits/): The Comptroller General of the Nigeria Immigration Service (the “NIS”) has directed that all expatriates must now provide evidence of tax payment before renewal of residence or work permits, effective 01 April 2021. This directive also applies to expatriates who are nationals of the Economic Community of West African States. Prior to this, the requirement - [Watch: Webinar on Regulation of Cryptocurrency: Necessity or Overreach (A Nigerian and South African Perspective)](https://aluko-oyebode.com/insights/cryptocurrency-regulation-webinar/): WATCH ON YOUTUBE>> Aluko & Oyebode in collaboration with Webber Wentzel hosted a webinar on Regulation of Cryptocurrency: Necessity or Overreach (A Nigerian and South African Perspective). Discussions centred around: Cryptocurrency Regulation Landscape in Nigeria: From SEC’s perspective South African Cryptocurrency Market: What works Crypto Safety and Role in Global Economy Acceptance of Digital Currency - [Limited Partnerships and Limited Liability Partnerships under the Companies and Allied Matters Act 2020](https://aluko-oyebode.com/insights/limited-partnerships-and-limited-liability-partnerships-under-the-companies-and-allied-matters-act-2020/): The recently enacted Companies and Allied Matters Act 2020 (the “CAMA 2020”) has introduced limited liability partnerships (“LLP”) and limited partnerships (“LP”) into Nigerian companies law and this is a very welcome development which reflects global practice. Individuals and corporate entities can register LLPs and LPs. There must be a minimum of two partners and - [Telecommunication, Media, Entertainment & Technology: WHAT’S TRENDING?](https://aluko-oyebode.com/insights/telecommunication-media-entertainment-technology-whats-trending/): The Central Bank of Nigeria and Nigerian Communications Commission issued a joint statement on pricing of Unstructured Supplementary Service Data (USSD) Services Recent events have shown that the controversy between the Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs) is not going away anytime soon. What are these issues? MNOs and DMBs have significant - [Single Shareholder and Single Director Company Structure under the CAMA 2020](https://aluko-oyebode.com/insights/single-shareholder-and-single-director-company-structure-under-the-cama-2020/): The recently enacted Companies and Allied Matters Act (“CAMA”) 2020 allows companies registered in Nigeria to have a single shareholder and single director. The single shareholder structure is suitable for individuals and corporate entities (especially foreign investors) who want to establish wholly owned entities in Nigeria. The previous mandatory requirement to have a minimum of two - [National Industrial Court of Nigeria's decision on the 2019 DPR Guidelines](https://aluko-oyebode.com/insights/national-industrial-court-of-nigerias-decision-on-the-2019-dpr-guidelines/): Operators in the Nigerian oil and gas industry are familiar with the Guidelines issued by the Department of Petroleum Resources (“DPR”) on the release of Nigerians working in the industry. The extant Guidelines were released on 17 October 2019 and replaced the Guidelines issued by the DPR on 5 March 2015. In brief, the Guidelines - [2021 International Women’s Day Celebration](https://aluko-oyebode.com/insights/2021-international-womens-day-celebration/): Aluko & Oyebode will be hosting a virtual event to commemorate this year’s International Women’s Day themed: “Choose To Challenge”. Discussions will centre around celebrating the work of women creatives and forging inclusive work cultures where women's careers thrive and achievements are celebrated. SPEAKERS Olajumoke Adenowo, Principal Architect, AD Consulting Bolanle Austin-Peters, Founder, Terra Kulture Temitayo - [Minimum issued Share Capital Requirement in the CAMA 2020](https://aluko-oyebode.com/insights/minimum-issued-share-capital-requirement-in-the-cama-2020/): The recently enacted Companies and Allied Matters Act (“CAMA”) 2020 has introduced several changes in the way companies are regulated in Nigeria. One of such changes is that the entire share capital of companies must be fully issued. Prior to this, in the repealed CAMA 1990 every company could have a prescribed authorised share capital - [Aluko & Oyebode Recognised as Industry Leader in Chambers Global 2021](https://aluko-oyebode.com/insights/aluko-oyebode-recognised-as-industry-leader-in-chambers-global-2021/): We are pleased to announce that Aluko & Oyebode has been ranked in five (5) practice areas in the 2021 edition of Chambers Global. Additionally, the Firm received the most Band 1 practice rankings and the most individual rankings for a law firm in Nigeria. 5 Practice Area Rankings Banking & Finance (Band 1) Corporate/Commercial - [Role of Employment Contracts in Assignment of Copyright](https://aluko-oyebode.com/insights/role-of-employment-contracts-in-assignment-of-copyright/): Employment contracts play an important role in the assignment of copyright developed in the course of employment. Its terms could determine issues relating to ownership and use of such copyright. The aim of this Newsletter is to address salient issues arising from the ownership of copyright developed in the course of employment. We hope the - [The Implication of the CBN Circulars on Cryptocurrency Transactions in Nigeria](https://aluko-oyebode.com/insights/the-implications-of-the-cbn-circulars-on-cryptocurrency-transactions-in-nigeria/): On 5 February 2021, the Central Bank of Nigeria (the “CBN”) issued a letter to all deposit money banks (DMBs), non-bank financial institutions (NBFIs) and other financial institutions (OFIs) to remind the foregoing regulated institutions that (further to its earlier circular dated 12 January 2017), dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is - [The CBN issues the Framework for Regulatory Sandbox Operations](https://aluko-oyebode.com/insights/the-cbn-issues-the-framework-for-regulatory-sandbox-operations/): A regulatory sandbox is a testing environment, supervised by regulatory institutions, which allows companies to test their products and services in a controlled environment for the purpose of promoting innovation. Several countries have adopted the use of sandboxes to enhance the competitiveness of the Financial Technology (FinTech) industry and to facilitate the development of a - [CBN issues Framework for Quick Response (QR) Code Payments in Nigeria](https://aluko-oyebode.com/insights/cbn-issues-framework-for-quick-response-qr-code-payments-in-nigeria/): Introduction On 13 January 2021, the Central Bank of Nigeria (the “CBN”) issued a framework for Quick Response (QR) code payments in Nigeria (the “QR Framework”). The QR Framework was issued in line with the CBN’s mandates to (a) ensure the safety and stability of the Nigerian Financial System; (b) promote the use and adoption - [Structuring a REIT in Nigeria: Key Legal and Tax Considerations](https://aluko-oyebode.com/insights/structuring-a-reit-in-nigeria-key-legal-and-tax-considerations/): Real Estate Investment Trusts (“REITs”) play a critical role in providing capital to bridge the real estate deficit while also providing investors with the opportunity of benefiting from large and diversified holdings of real estate. Notwithstanding the opportunities available in the sector, the Nigerian REIT market remains underutilised and underdeveloped. This assertion gains credence from - [Aluko & Oyebode Wins Nigeria Law Firm of the Year Award at the Chambers Africa Awards 2021](https://aluko-oyebode.com/insights/aluko-oyebode-wins-nigeria-law-firm-of-the-year-award-at-the-chambers-africa-awards-2021/): We are delighted to announce that Aluko & Oyebode has been named the Nigeria Law Firm of the Year at the Chambers Africa Awards 2021. Chambers and Partners, in announcing the award, described the Firm as: "A well-known firm at the forefront of the market across numerous practice areas. Aluko & Oyebode is often engaged in some - [PZ Cussons Nigeria Appoints Gbenga Oyebode, MFR as Chairman](https://aluko-oyebode.com/insights/pz-cussons-nigeria-appoints-gbenga-oyebode-mfr-as-chairman/): We are pleased to announce that our Chairman, Gbenga Oyebode has been appointed by the Board of Directors of PZ Cussons Nigeria Plc as Non-Executive Director and Chairman of the Board effective 11th December 2020. Gbenga was conferred with national honours of Nigeria (Member of the Order of the Federal Republic of Nigeria “MFR” and - [The New Licence Categorisations for the Nigerian Payments System](https://aluko-oyebode.com/insights/the-new-licence-categorisations-for-the-nigerian-payments-system/): On 9 December 2020, the Central Bank of Nigeria (CBN) issued a circular on the New Licence Categorisations for the Nigerian Payments System (the “New Licence Categorisations”). Key Provisions of the New Licence Categorisations Streamlining of Permissible Payment Systems Activities: The New Licence Categorisations streamlines the permissible activities for payment systems licensing into the following - [Aluko & Oyebode Ranks Highly in the 2021 IFLR1000 Guide](https://aluko-oyebode.com/insights/aluko-oyebode-ranks-highly-in-the-2021-iflr1000-guide/): In its 2021 guide, IFLR1000 has recognised Aluko & Oyebode as a Top Tier Firm (Tier 1) in seven practice areas, namely: Banking Capital Markets: Debt Capital Markets: Equity Mergers & Acquisitions Project Development: Infrastructure Project Development: Power Project Finance Nine (9) Aluko & Oyebode partners were rated as “highly regarded”, one partner was rated - [Intellectual Property Newsletter | Third Issue 2020](https://aluko-oyebode.com/insights/intellectual-property-newsletter-third-issue-2020/): 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 - [Aluko & Oyebode wins Environmental & Renewables Team of the Year at the African Legal Awards 2020](https://aluko-oyebode.com/insights/aluko-oyebode-wins-environmental-renewables-team-of-the-year-at-the-african-legal-awards-2020/): 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 - [Aluko & Oyebode wins Nigeria Project Finance Firm of the Year Award at IFLR Sub-Saharan Africa Awards 2020](https://aluko-oyebode.com/insights/aluko-oyebode-wins-nigeria-project-finance-firm-of-the-year-award-at-iflr-sub-saharan-africa-awards-2020/): 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 - [Stamp Duty Reform under the Finance Act: Market Update on the Impact on Cross Border Transactions](https://aluko-oyebode.com/insights/stamp-duty-reform-under-the-finance-act-market-update-on-the-impact-on-cross-border-transactions/): 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 - [Watch: Webinar on the Amendments to the 6th Edition of the Nigeria Broadcasting Code](https://aluko-oyebode.com/insights/webinar-on-the-amendments-to-the-6th-edition-of-the-nigeria-broadcasting-code/): 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 - [CBN Issues Revised Guidelines for Payment Service Banks, Grants Final Approval to 3 Payment Service Banks](https://aluko-oyebode.com/insights/cbn-issues-revised-guidelines-for-payment-service-banks-grants-final-approval-to-3-payment-service-banks/): 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 - [NAICOM Issues Circular on the Timeline for Compliance with Phase 1 of the Recapitalisation Exercise for Insurance and Reinsurance Companies](https://aluko-oyebode.com/insights/naicom-issues-circular-on-the-timeline-for-compliance-with-phase-1-of-the-recapitalisation-exercise-for-insurance-and-reinsurance-companies/): 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 - [Aluko & Oyebode Shortlisted in Nine Categories for the inaugural IFLR Sub-Saharan Africa Awards 2020](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-in-nine-categories-for-the-inaugural-iflr-sub-saharan-africa-awards-2020/): 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 - [Aluko & Oyebode wins Corporate Debt Deal of the Year Award at the Bonds, Loans & Sukuk Awards, 2020](https://aluko-oyebode.com/insights/aluko-oyebode-wins-corporate-debt-deal-of-the-year-award-at-the-bonds-loans-sukuk-awards-2020/): 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 - [Aluko & Oyebode Shortlisted for The African Legal Awards 2020](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-for-the-african-legal-awards-2020/): 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 - [Intellectual Property Newsletter | Second Issue 2020](https://aluko-oyebode.com/insights/intellectual-property-newsletter-second-issue-2020/): 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 - [Shipping and Commodities Webinar](https://aluko-oyebode.com/insights/shipping-and-commodities-webinar/): 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 - [The CBN Publishes Exposure Draft of Regulatory Framework for Sandbox Operations in Nigeria](https://aluko-oyebode.com/insights/the-cbn-publishes-exposure-draft-of-regulatory-framework-for-sandbox-operations-in-nigeria/): 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 - [IFLR1000 Women Leaders 2020](https://aluko-oyebode.com/insights/iflr1000-women-leaders-2020/): 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 - [The Nigeria Chapter in The Public Competition Enforcement Review - 12th Edition](https://aluko-oyebode.com/insights/the-nigeria-chapter-in-the-public-competition-enforcement-review-12th-edition/): 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 - [COVID-19: Debt Issuances In A Pandemic](https://aluko-oyebode.com/insights/covid-19-debt-issuances-in-a-pandemic/): 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 - [Watch: Fintech/Private Equity Webinar](https://aluko-oyebode.com/insights/fintech-private-equity-webinar/): 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 - [Aluko & Oyebode advises Goodwell Investments on its Participation in Tomato Jos’ Series A Round Funding](https://aluko-oyebode.com/insights/aluko-oyebode-advises-goodwell-investments-on-its-participation-in-tomato-jos-series-a-round-funding/): 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 - [Reduction of Right of Way Charges](https://aluko-oyebode.com/insights/reduction-of-right-of-way-charges/): 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 - [COVID-19: Public Health Requirement and Patent Rights](https://aluko-oyebode.com/insights/covid-19-public-health-requirement-and-patent-rights/): 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 - [Joinder of a Person as a Co-Respondent to an Appeal](https://aluko-oyebode.com/insights/joinder-of-a-person-as-a-co-respondent-to-an-appeal/): 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 - [COVID-19: Return to Work Recommendations for Nigerian Employers](https://aluko-oyebode.com/insights/covid-19-return-to-work-recommendations-for-nigerian-employers/): 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 - [COVID-19: Nigerian Construction and Infrastructure Industry](https://aluko-oyebode.com/insights/covid-19-nigerian-construction-and-infrastructure-industry/): 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 - [Guidance on Phased Easing of Lockdown Measures in Lagos State](https://aluko-oyebode.com/insights/guidance-on-phased-easing-of-lockdown-measures-in-lagos-state/): 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 - [COVID-19: Corporate Governance and Regulatory Registries in Nigeria](https://aluko-oyebode.com/insights/covid-19-corporate-governance-and-regulatory-registries-in-nigeria/): 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 - [COVID-19: Regulatory Watch for the Oil and Gas Industry](https://aluko-oyebode.com/insights/covid-19-regulatory-watch-for-the-oil-and-gas-industry/): 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. - [Labour Outsourcing and Contract Staffing: Analysing the Liabilities of Labour Contractors and End Users Under Nigerian Law](https://aluko-oyebode.com/insights/labour-outsourcing-and-contract-staffing-analysing-the-liabilities-of-labour-contractors-and-end-users-under-nigerian-law/): 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 - [COVID-19: Legal and Practical Considerations for the Oil and Gas Industry](https://aluko-oyebode.com/insights/covid-19-legal-and-practical-considerations-for-the-oil-and-gas-industry/): 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 - [Impact of the COVID-19 Pandemic on the Financial Services Sector: Key Lender Considerations](https://aluko-oyebode.com/insights/impact-of-the-covid-19-pandemic-in-the-financial-services-sector-key-lender-considerations/): 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 - [Impact of the COVID-19 Pandemic on the Financial Services Sector: CBN Policy Response](https://aluko-oyebode.com/insights/impact-of-the-covid-19-pandemic-in-the-financial-services-sector-cbn-policy-response/): 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 - [NITDA Inaugurates an Advisory Committee for Technology and Innovation Ecosystem due to the COVID-19 Pandemic](https://aluko-oyebode.com/insights/nitda-inaugurates-an-advisory-committee-for-technology-and-innovation-ecosystem-due-to-the-covid-19-pandemic/): 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 - [COVID-19 and Dispute Resolution in Nigeria](https://aluko-oyebode.com/insights/covid-19-and-dispute-resolution-in-nigeria/): 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 - [NITDA Issues Guidance to Technology Companies on the COVID-19 Pandemic: Lockdown Permit](https://aluko-oyebode.com/insights/nitda-issues-guidance-to-technology-companies-on-the-covid-19-pandemic-lockdown-permit/): 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. - [NITDA Issues Guidance on the COVID-19 Pandemic: Internet of Things](https://aluko-oyebode.com/insights/nitda-issues-guidance-on-the-covid-19-pandemic-internet-of-things/): 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 - [The Federal Government of Nigeria Extends Tenure of Visas and Resident Permits following Closure of Airports](https://aluko-oyebode.com/insights/the-federal-government-of-nigeria-extends-tenure-of-visas-and-resident-permits-following-closure-of-airports/): 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 - [Aluko & Oyebode Recognised As A Leading Firm in The Legal 500 EMEA 2020](https://aluko-oyebode.com/insights/aluko-oyebode-recognised-as-a-leading-firm-in-legal-500-emea-2020/): 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 - [NSE Issues Guidance On The Conduct Of Virtual Meetings Amidst COVID-19](https://aluko-oyebode.com/insights/nse-issues-guidance-on-the-conduct-of-virtual-meetings-amidst-covid-19/): 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 - [NAICOM Issues Circulars on the Effect of COVID-19 on Insurance Operators](https://aluko-oyebode.com/insights/naicom-issues-circulars-on-the-effect-of-covid-19-on-insurance-operators/): 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 - [WhatsApp Imposes New Limit on Forwarding to Fight Fake News](https://aluko-oyebode.com/insights/whatsapp-imposes-new-limit-on-forwarding-to-fight-fake-news/): 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 - [The Lagos State Infectious Diseases Regulation 2020](https://aluko-oyebode.com/insights/the-lagos-state-infectious-diseases-regulation-2020/): 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 - [DPR issues circular to Oil and Gas Operators, Contractors, and Service Providers on the Management of COVID-19](https://aluko-oyebode.com/insights/dpr-issues-circular-to-oil-and-gas-operators-contractors-and-service-providers-on-the-management-of-covid-19/): 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, - [NITDA Notice on Extension of Filing of 2020 Audit Report](https://aluko-oyebode.com/insights/nitda-notice-on-extension-of-filing-of-2020-audit-report/): 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 - [Advisory Update on COVID-19](https://aluko-oyebode.com/insights/advisory-update-on-covid-19/): 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 - [Aluko & Oyebode | Coronavirus | Workplace Safety UPDATE](https://aluko-oyebode.com/insights/aluko-oyebode-coronavirus-workplace-safety-update-2/): 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 - [Aluko & Oyebode | Coronavirus | Workplace Safety (UPDATE)](https://aluko-oyebode.com/insights/aluko-oyebode-coronavirus-workplace-safety-update/): 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 - [Aluko & Oyebode | Coronavirus | Workplace Safety](https://aluko-oyebode.com/insights/aluko-oyebode-coronavirus-workplace-safety/): 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 - [2020 International Women’s Day Celebration](https://aluko-oyebode.com/insights/2020-international-womens-day-celebration/): 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 - [Aluko & Oyebode retains Band 1 Ranking in Chambers Global Rankings for 2020](https://aluko-oyebode.com/insights/aluko-oyebode-retains-band-1-ranking-in-chambers-global-rankings-for-2020/): 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 - [The Road Ahead: Fostering Safer and Effective Derivative Market in Africa](https://aluko-oyebode.com/insights/3805/): 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 - [Emergency Arbitrator and the new Rivers State Arbitration Law 2019](https://aluko-oyebode.com/insights/emergency-arbitrator-and-the-new-rivers-state-arbitration-law-2019-law/): 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 - [2019 IBA Arb40 – Young ICCA Workshop](https://aluko-oyebode.com/insights/2019-iba-arb40-young-icca-workshop/): 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 - [Aluko & Oyebode and Blaugrana Sports International Enters Agreement to promote Youth and Sports Development in Nigeria](https://aluko-oyebode.com/insights/aluko-oyebode-and-blaugrana-sports-international-enters-agreement-to-promote-youth-and-sports-development-in-nigeria/): 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 - [Aluko & Oyebode advises China Development Bank on its US$629 Million Financing of Nigeria’s First Deep Seaport](https://aluko-oyebode.com/insights/aluko-oyebode-advises-china-development-bank-on-its-us629-million-financing-of-nigerias-first-deep-seaport/): 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 - [Aluko & Oyebode Shortlisted in Ten Categories for the 2019 ESQ Nigerian Legal Awards](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-in-ten-categories-for-the-2019-esq-nigerian-legal-awards/): 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 - [Aluko & Oyebode maintains Top Tier Status in the 2020 IFLR1000 Guide](https://aluko-oyebode.com/insights/aluko-oyebode-maintains-top-tier-status-in-the-2020-iflr1000-guide/): 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 - [Aluko & Oyebode Partner, Hamid Abdulkareem Appointed Officer of IBA Arbitration Committee](https://aluko-oyebode.com/insights/aluko-oyebode-partner-hamid-abdulkareem-appointed-officer-of-iba-arbitration-committee/): 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 - [Aluko & Oyebode hosts its 2019 Capital Market Roundtable](https://aluko-oyebode.com/insights/aluko-oyebode-hosts-its-2019-capital-market-roundtable/): 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 - [Aluko & Oyebode Shortlisted for The African Legal Awards 2019](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-for-the-african-legal-awards-2019/): We are delighted to be shortlisted in five (5) categories for The African Legal Awards 2019: African Law Firm of the Year – Large Practice Energy & Natural Resources Team of the Year Intellectual Property Team of the Year Mergers & Acquisitions Team of the Year TMT Team of the Year Click Here for more information. The African Legal - [2019 Capital Market Roundtable](https://aluko-oyebode.com/insights/capital-market-roundtable/): 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 - [A Review of the Nigeria Football Federation Bill](https://aluko-oyebode.com/insights/a-review-of-the-nigeria-football-federation-bill/): 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 - [Federal Government to reduce Stakes in Joint Venture Oil Assets to 40%](https://aluko-oyebode.com/insights/federal-government-to-reduce-stakes-in-joint-venture-oil-assets-to-40/): 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 - [Federal Government Committed to Development of Special Economic Zones](https://aluko-oyebode.com/insights/federal-government-committed-to-development-of-special-economic-zones/): *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 - [Aluko & Oyebode advises MTN Group on the Listing by Introduction of its Nigerian Subsidiary on the Nigerian Stock Exchange](https://aluko-oyebode.com/insights/aluko-oyebode-advises-mtn-group-on-the-listing-by-introduction-of-its-nigerian-subsidiary-on-the-nigerian-stock-exchange/): 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 - [Aluko & Oyebode Achieves Top-Tier Rankings in Legal 500 EMEA 2019](https://aluko-oyebode.com/insights/aluko-oyebode-achieves-top-tier-rankings-in-legal-500-emea-2019/): 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 - [2019 Africa Arbitration Academy](https://aluko-oyebode.com/insights/2019-africa-arbitration-academy/): 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 - [Aluko & Oyebode celebrates the 2019 World Intellectual Property Day](https://aluko-oyebode.com/insights/aluko-oyebode-celebrates-the-2019-world-intellectual-property-day/): 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 - [Aluko & Oyebode advises SAHCO on its Initial Public Offering and Listing of Shares on The Nigerian Stock Exchange](https://aluko-oyebode.com/insights/aluko-oyebode-advises-sahco-on-its-initial-public-offering-and-listing-of-shares-on-the-nigerian-stock-exchange/): 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. - [Aluko & Oyebode receives PEBEC’s Special Recognition Award (Private Sector)](https://aluko-oyebode.com/insights/aluko-oyebode-receives-pebecs-special-recognition-award-private-sector/): 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 - [Aluko & Oyebode celebrates International Women’s Day](https://aluko-oyebode.com/insights/aluko-oyebode-celebrates-international-womens-day/): 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 - [Aluko & Oyebode advises Access Bank Plc on its Merger with Diamond Bank Plc](https://aluko-oyebode.com/insights/aluko-oyebode-advises-access-bank-plc-on-its-merger-with-diamond-bank-plc/): 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 - [Intellectual Property Newsletter | First Issue 2019](https://aluko-oyebode.com/insights/intellectual-property-newsletter-first-issue-2019/): 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. - [Aluko & Oyebode retains Top Tier Status in Chambers Global Rankings for 2019](https://aluko-oyebode.com/insights/aluko-oyebode-retains-top-tier-status-in-chamber-global-rankings-for-2019/): 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); - [Aluko & Oyebode and leading South African law firm, Webber Wentzel announce signing of bilateral agreement](https://aluko-oyebode.com/insights/aluko-oyebode-and-leading-south-african-law-firm-webber-wentzel-announce-signing-of-bilateral-agreement/): 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 - [The Nigeria Data Protection Regulation 2019](https://aluko-oyebode.com/insights/the-nigeria-data-protection-regulation-2019/): 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”) - [Aluko & Oyebode proudly co-sponsors the 2019 Entry Level Associate Training Exercise (ELEVATE)](https://aluko-oyebode.com/insights/aluko-oyebode-proudly-co-sponsors-the-2019-entry-level-associate-training-exercise-elevate/): 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 - [Intellectual Property Newsletter | Fourth Issue 2018](https://aluko-oyebode.com/insights/intellectual-property-newsletter-fourth-issue-2018/): 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 - [Aluko & Oyebode Receives Top Rankings in IFLR1000 2019](https://aluko-oyebode.com/insights/aluko-oyebode-receives-top-rankings-in-iflr1000-2019/): 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” - [Aluko & Oyebode shortlisted in nine categories for Law Digest Africa Awards 2018](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-in-nine-categories-for-law-digest-africa-awards-2018/): 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. - [NCC, NLRC Sign MoU for Telcos to Host Lottery Services](https://aluko-oyebode.com/insights/ncc-nlrc-sign-mou-for-telcos-to-host-lottery-services/): 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. - [Intellectual Property Newsletter | Third Issue 2018](https://aluko-oyebode.com/insights/intellectual-property-newsletter-third-issue-2018/): 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. - [Aluko & Oyebode advises Allianz SE on its Acquisition of Ensure Insurance Plc](https://aluko-oyebode.com/insights/aluko-oyebode-advises-allianz-se-on-its-acquisition-of-ensure-insurance-plc/): 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. - [Aluko & Oyebode Shortlisted for The African Legal Awards 2018](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-for-the-african-legal-awards-2018/): Aluko & Oyebode has been shortlisted in seven categories for The African Legal Awards 2018. - [Proposed Amendments to the Personal Income Tax Act](https://aluko-oyebode.com/insights/proposed-amendments-to-the-personal-income-tax-act/): There are two Bills currently pending before the National Assembly proposing amendments to the Personal Income Tax Act (as amended) 2011. - [Aluko & Oyebode Partners, Olubunmi Fayokun and Oghogho Makinde named IFLR1000 Women Leaders](https://aluko-oyebode.com/insights/aluko-oyebode-partners-olubunmi-fayokun-and-oghogho-makinde-named-iflr1000-women-leaders/): Aluko & Oyebode Partners, Olubunmi Fayokun and Oghogho Makinde, have been recognized as IFLR Women Leaders for 2018. - [Nigerian Investment Insights](https://aluko-oyebode.com/insights/nigerian-investment-insights/): 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. - [The Changing Landscape in Data Protection Guidelines: GDPR and the NITDA Guidelines](https://aluko-oyebode.com/insights/the-changing-landscape-in-data-protection-guidelines-gdpr-and-the-nitda-guidelines/): 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. - [Nigerian Senate Passes the Repeal and Re-Enactment of the Companies and Allied Matters Act](https://aluko-oyebode.com/insights/nigerian-senate-passes-the-repeal-and-re-enactment-of-the-companies-and-allied-matters-act/): 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. - [Intellectual Property Newsletter | Second Issue 2018](https://aluko-oyebode.com/insights/intellectual-property-newsletter-second-issue-2018/): 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. - [Aluko & Oyebode Given Top Rankings in Legal 500 EMEA 2018](https://aluko-oyebode.com/insights/aluko-oyebode-given-top-rankings-in-legal-500-emea-2018/): We are delighted to announce that Aluko & Oyebode has been ranked a top-tier Nigerian law firm by Legal 500 EMEA 2018. - [Aluko & Oyebode Given Top Rankings in Chambers Global 2018](https://aluko-oyebode.com/insights/aluko-oyebode-given-top-rankings-in-chambers-global-2018/): We are delighted to announce that Aluko & Oyebode has been recognised as a leading firm in the 2018 Edition of Chambers Global. - [Land Use Charge Law of Lagos State, 2018](https://aluko-oyebode.com/insights/land-use-charge-law-of-lagos-state-2018/): 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”). - [The President Issues Executive Order for Utilization of Local Content](https://aluko-oyebode.com/insights/the-president-issues-executive-order-for-utilization-of-local-content/): 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”). - [Debt To Equity Conversations in Nigeria: The Etisalat Case Study](https://aluko-oyebode.com/insights/debt-to-equity-conversations-in-nigeria-the-etisalat-case-study/): 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. - [Aluko & Oyebode Wins The Chambers Global Africa 2018 Nigeria Law Firm of the Year Award](https://aluko-oyebode.com/insights/aluko-oyebode-wins-the-chambers-global-africa-2018-nigeria-law-firm-of-the-year-award/): We are delighted to announce that Aluko & Oyebode has been awarded The Chambers Global Africa 2018 Nigeria Law Firm of the Year Award. - [Intellectual Property Newsletter | First Issue 2018](https://aluko-oyebode.com/insights/intellectual-property-newsletter-first-issue-2018/): 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. - [Aluko & Oyebode Partner, Tonye Krukrubo Elected Vice Chairman of the Chartered Institute of Arbitrators, UK (Nigeria Branch), Port Harcourt Chapter](https://aluko-oyebode.com/insights/aluko-oyebode-partner-tonye-krukrubo-elected-vice-chairman-of-the-chartered-institute-of-arbitrators-uk-nigeria-branch-port-harcourt-chapter/): 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. - [Merry Christmas and Happy New Year](https://aluko-oyebode.com/insights/merry-christmas-and-happy-new-year/): Merry Christmas and Happy New Year - [The National Identity Management Commission releases Regulation on the Mandatory Use of the National Identification Number 2017](https://aluko-oyebode.com/insights/the-national-identity-management-commission-releases-regulation-on-the-mandatory-use-of-the-national-identification-number-2017/): 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. - [Aluko & Oyebode Partner, Uche Nwokocha Appointed Director at the International Trademark Association (INTA)](https://aluko-oyebode.com/insights/aluko-oyebode-partner-uche-nwokocha-appointed-director-at-the-international-trademark-association-inta/): 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. - [Aluko & Oyebode admits a new Partner](https://aluko-oyebode.com/insights/aluko-oyebode-admits-a-new-partner/): 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. - [NIPC and FIRS issue Compendium of Investment Incentives in Nigeria](https://aluko-oyebode.com/insights/nipc-and-firs-issue-compendium-of-investment-incentives-in-nigeria/): 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”). - [Caesar asks for more – Are Loan Agreements really Loan Capital for the purpose of stamp duties?](https://aluko-oyebode.com/insights/caesar-asks-for-more-are-loan-agreements-really-loan-capital-for-the-purpose-of-stamp-duties/): 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. - [Aluko & Oyebode Partner, Dr. Simeon Obidairo Appointed Senior Fellow at SOAS University of London](https://aluko-oyebode.com/insights/aluko-oyebode-partner-dr-simeon-obidairo-appointed-senior-fellow-at-soas-university-of-london/): 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. - [Aluko & Oyebode retains Top Tier Rankings in IFLR1000 2018](https://aluko-oyebode.com/insights/aluko-oyebode-retains-top-tier-rankings-in-iflr1000-2018/): 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. - [Intellectual Property Newsletter | Second Issue 2017](https://aluko-oyebode.com/insights/intellectual-property-newsletter-second-issue-2017/): 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. - [How is Nigeria Progressing Post-Recession?](https://aluko-oyebode.com/insights/how-is-nigeria-progressing-post-recession/): 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: - [Aluko & Oyebode Partner, Chukwuka Ikwuazom Elected Chairman of the Nigerian Bar Association, Lagos Branch](https://aluko-oyebode.com/insights/aluko-oyebode-partner-chukwuka-ikwuazom-elected-chairman-of-the-nigerian-bar-association-lagos-branch/): We are pleased to announce the election of Aluko & Oyebode Partner, Chukwuka Ikwuazom, as the Chairman of the Nigerian Bar Association, Lagos Branch. - [The CBN Releases Exposure Draft on the Regulatory Framework for Private Asset Management Companies](https://aluko-oyebode.com/insights/the-cbn-releases-exposure-draft-on-the-regulatory-framework-for-private-asset-management-companies/): 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”. - [Aluko & Oyebode to host the Maiden Edition of the International Trademark Association (INTA) Africa Roundtable](https://aluko-oyebode.com/insights/aluko-oyebode-to-host-the-maiden-edition-of-the-international-trademark-association-inta-africa-roundtable/): 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. - [Intellectual Property Newsletter | First Issue 2017](https://aluko-oyebode.com/insights/intellectual-property-newsletter-first-issue-2017/): 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. - [Aluko & Oyebode Senior Associate, Funmilayo Otsemobor Appointed Secretary of the Banking, Finance and Insolvency Committee of the Nigerian Bar Association Section on Business Law](https://aluko-oyebode.com/insights/aluko-oyebode-senior-associate-funmilayo-otsemobor-appointed-secretary-of-the-banking-finance-and-insolvency-committee-of-the-nigerian-bar-association-section-on-business-law/): 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. - [Aluko & Oyebode Partner, Ayodeji Oyetunde Appointed Vice Chairman of the Capital Markets Committee of the Nigerian Bar Association Section on Business Law](https://aluko-oyebode.com/insights/aluko-oyebode-partner-ayodeji-oyetunde-appointed-vice-chairman-of-the-capital-markets-committee-of-the-nigerian-bar-association-section-on-business-law/): 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. - [Aluko & Oyebode Given Top Rankings in Chambers Global 2017](https://aluko-oyebode.com/insights/aluko-oyebode-given-top-rankings-in-chambers-global-2017/): We are proud to announce that Aluko & Oyebode has been recognised as a leading firm in the 2017 Edition of Chambers Global. - [Aluko & Oyebode Partner, Ayodeji Oyetunde and Associate, Lotanna Nwodo author the Nigeria Chapter of the Director’s Liability: A Worldwide Review Third Edition](https://aluko-oyebode.com/insights/aluko-oyebode-partner-ayodeji-oyetunde-and-associate-lotanna-nwodo-author-the-nigeria-chapter-of-the-directors-liability-a-worldwide-review-third-edition-2/): The Companies and Allied Matters Act1 is the basic law that regulates the legal existence and operation of all companies in Nigeria. However, there are other laws which apply to companies depending on whether they are private or public companies; - [Aluko & Oyebode advises the Joint Lead Managers in connection with the US$800 Million Eurobond Issuance by IHS Netherlands Holdco B.V.](https://aluko-oyebode.com/insights/aluko-oyebode-advises-the-joint-lead-managers-in-connection-with-the-us800-million-eurobond-issuance-by-ihs-netherlands-holdco-b-v/): Aluko & Oyebode acted as Nigerian Legal Counsel to the Joint Lead Managers, Citibank Global Markets Limited, Goldman Sachs International and Standard Chartered Bank in connection with the US$800 Million eurobond issuance by IHS Netherlands Holdco B.V., the holding company of IHS Nigeria Limited, which is the largest mobile telecommunications infrastructure provider in Africa. - [A Critical Analysis of the National Code of Corporate Governance for the Private Sector in Nigeria (2016)](https://aluko-oyebode.com/insights/a-critical-analysis-of-the-national-code-of-corporate-governance-for-the-private-sector-in-nigeria-2016/): The Financial Reporting Council (“FRCN”) of Nigeria on the 17th of October 2016 issued a three-in-one National Code of Corporate Governance (“NCCG”), which seeks to provide regulations on corporate governance as it relates to, public and private companies registered under Nigerian law as well as Nigerian public entities. - [Aluko & Oyebode named Property, Infrastructure & Construction Team of the Year at Law Digest Africa Awards 2016](https://aluko-oyebode.com/insights/aluko-oyebode-named-property-infrastructure-construction-team-of-the-year-at-law-digest-africa-awards-2016/): Aluko & Oyebode was named the Property, Infrastructure and Construction Team of the Year at this year’s Law Digest Africa Awards held in November 4th at the Oriental Hotel in Lagos, Nigeria. - [Aluko & Oyebode Advises Access Bank Plc on its US$300 Million Eurobond Issuance](https://aluko-oyebode.com/insights/aluko-oyebode-advises-access-bank-plc-on-its-us300-million-eurobond-issuance/): Aluko & Oyebode acted as Nigerian counsel to Access Bank Plc (“the Bank”) on its recent US$300 Million Eurobond issuance under the Bank’s US$1,000,000,000.00 Global Medium Term Note Programme. - [Intellectual Property Newsletter (Third Issue 2016)](https://aluko-oyebode.com/insights/intellectual-property-newsletter-third-issue-2016/): The Nigeria Trademarks, Patents and Designs Registry has completed the first phase of its data capture project which it commenced on 1st October, 2015. This process entailed the digitalization of its trademarks by capturing the data into to the World Intellectual Property Organisation (WIPO)... - [Aluko & Oyebode Given Top Rankings in IFLR1000 2017](https://aluko-oyebode.com/insights/aluko-oyebode-given-top-rankings-in-iflr1000-2017/): We are delighted to announce that the reputable legal guide IFLR1000 has recommended Aluko & Oyebode as a top tier law firm in seven practice areas in its global ranking for 2017: - [Aluko & Oyebode shortlisted in three categories at the 2016 Law Digest Africa Awards](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-in-three-categories-at-the-2016-law-digest-africa-awards/): We are delighted to be a finalist in this year's edition of the Law Digest Africa Awards. We have been shortlisted in three categories: - [Boosting Local Exports in Nigeria](https://aluko-oyebode.com/insights/boosting-local-exports-in-nigeria/): Since the discovery of petroleum in Nigeria in 1956 at Oloibiri in the Niger Delta region of the country, the Nigerian Government has invested extensively in the oil and gas sector leading to the country’s dependence on the proceeds of petroleum exports, which account for about 90% of its gross earnings. - [Aluko & Oyebode shortlisted for African Law Firm of the Year (Large Practice) for third year in a row at African Legal Awards 2016](https://aluko-oyebode.com/insights/aluko-oyebode-shortlisted-for-african-law-firm-of-the-year-large-practice-for-third-year-in-a-row-at-african-legal-awards-2016/): We are proud to have been shortlisted for African Legal Awards 2016 - African Law Firm of the Year (Large Practice) for 3rd year in a row. - [Aluko & Oyebode advises Vitol S.A and Helios Investment Partners on Acquisition of the Downstream and Retail Businesses of the Oando Group](https://aluko-oyebode.com/insights/aluko-oyebode-advises-vitol-s-a-and-helios-investment-partners-on-acquisition-of-the-downstream-and-retail-businesses-of-the-oando-group/): Aluko & Oyebode acted as Nigerian counsel to a consortium consisting of Vitol S.A and Helios Investment Partners in relation to the acquisition of the downstream and retail businesses of Oando Plc, a leading Nigerian integrated energy company. - [Aluko & Oyebode Partner, Tunde Fagbohunlu SAN, John Miles and Kamal Shah co-authors ‘Arbitration in Africa: A Review of Key Jurisdictions’](https://aluko-oyebode.com/insights/aluko-oyebode-partner-tunde-fagbohunlu-san-john-miles-and-kamal-shah-co-authors-arbitration-in-africa-a-review-of-key-jurisdictions/): Tunde Fagbohunlu SAN (Partner, Head of Litigation, Arbitration and ADR Groups, Aluko & Oyebode, Nigeria), John Miles (Managing Director of JMiles & Co, Nairobi) and Kamal Shah (Partner, Head of the Africa Group, Stephenson Harwood, London) have co-authored this comprehensive account of arbitration in key jurisdictions in Africa. The book was written in conjunction with leading African arbitrators and lawyers. - [IP Newsletter - Second Edition, 2016](https://aluko-oyebode.com/insights/ip-newsletter-second-edition-2016/): The National Agency for Food and Drug Administration and Control (NAFDAC) has implemented a few changes in recent times which have the effect of putting the agency’s standards on par with some internationally maintained standards. - [The Fizzing Final: The 14th Bankole Olumide Aluko (BOA) Football Tournament](https://aluko-oyebode.com/insights/the-fizzing-final-the-14th-bankole-olumide-aluko-boa-football-tournament/): The 14th Bankole Olumide Aluko (BOA) Football Tournament Closing Ceremony as was much expected, came to a successful end. he closing ceremony as usual opened with the third-place playoff match as it was last year between Aluko & Oyebode and Tayo Oyetibo & Co/Bayo Osipitan & Co. - [Aluko & Oyebode Partner, Oghogho Makinde author the Nigeria Chapter of the International Comparative Legal Guide to Environment & Climate Change Law 2016](https://aluko-oyebode.com/insights/aluko-oyebode-partner-oghogho-makinde-author-the-nigeria-chapter-of-the-international-comparative-legal-guide-to-environment-climate-change-law-2016/): The Nigerian State has an objective to improve and protect the air, land, water, forest and wildlife of Nigeria. The National Environmental Standards and Regulations Enforcement Agency (Establishment) Act, 2007 (“NESREA Act”) is the primary environmental legislation in Nigeria. - [Aluko & Oyebode Given Top Rankings in Legal 500 EMEA 2016](https://aluko-oyebode.com/insights/aluko-oyebode-given-top-rankings-in-legal-500-emea-2016/): We are delighted to announce that Aluko & Oyebode has been ranked a top-tier Nigerian law firm by Legal 500 EMEA 2016 in four practice area - [Aluko & Oyebode Given Top Rankings in Chambers Global 2016](https://aluko-oyebode.com/insights/aluko-oyebode-given-top-rankings-in-chambers-global-2016/): We are proud to announce that Aluko & Oyebode has been recognised as a leading firm in Chambers Global 2016 with Band 1 Rankings in 4 Practice Areas: - [IP Newsletter - First Edition, 2016](https://aluko-oyebode.com/insights/ip-newsletter-first-edition-2016/): The International Trademark Association (INTA) Roundtable program was established to enhance networking and educational opportunities for INTA members throughout the world. The intention is that INTA members would host small Roundtables to provide interactive, high-quality discussion for attendees to share ideas, insights and practice tips in a non-commercial, non-competitive environment. - [The 14th Bankole Olumide Aluko Football Tournament Kicks Off](https://aluko-oyebode.com/insights/the-14th-bankole-olumide-aluko-football-tournament-kicks-off/): The Bankole Olumide Aluko (BOA) Football Tournament is the 5-A-Side Annual Football Tournament played in honour of one of our Founding Partners, Late Bankole Aluko Olumide, SAN. - [IP Newsletter - Last Edition 2015](https://aluko-oyebode.com/insights/ip-newsletter-last-edition-2015/): The frequent change in the administration of the Trademarks Patent and Designs Registry has caused untold hardship to all stakeholders. The Registrar has been changed three times in the last 9 months and each new administration comes on board with its own policies without building on existing policies. - [Aluko & Oyebode Wins Multiple Awards at the Law Digest Africa Awards](https://aluko-oyebode.com/insights/aluko-oyebode-wins-multiple-awards-at-the-law-digest-africa-awards/): We are pleased to announce that Aluko & Oyebode has been declared the winner of the following Law Digest Africa Awards: • Law Firm of the Year 2015; and • Litigation and Dispute Resolution Team of the Year 2015. - [Simeon Obidairo of Aluko & Oyebode to speak at the 3rd Annual Cross-Border Litigation And Asset Recovery Forum 2015](https://aluko-oyebode.com/insights/simeon-obidairo-of-aluko-oyebode-to-speak-at-the-3rd-annual-cross-border-litigation-and-asset-recovery-forum-2015/): Simeon Obidairo to speak on "International Co-operation in Fraud and other Economic Crime Investigation, Use of Mutual Assistance and Multi-Jurisdictional Asset Freezing Orders” at the 3rd Annual Cross-Border Litigation And Asset Recovery Forum 2015, 5 November 2015, Lagos, Nigeria. - [Aluko & Oyebode Given Top Rankings in IFLR1000 2016](https://aluko-oyebode.com/insights/aluko-oyebode-given-top-rankings-in-iflr1000-2016/): We are delighted to announce that IFLR1000 2016 has recommended Aluko & Oyebode as a top tier law firm in seven practice areas: - [Developing Nigeria’s Renewable Energy Sector](https://aluko-oyebode.com/insights/developing-nigerias-renewable-energy-sector/): Nigeria is Africa’s most populous nation with a population of over 170 million people. Of these, it is estimated that less than 50% currently have access to electricity supply. Where access to electricity is available, a full day of uninterrupted electricity is not guaranteed. - [Senior Advocate of Nigeria (SAN) Conferment Announcement](https://aluko-oyebode.com/insights/senior-advocate-of-nigeria-san-conferment-announcement/): We are pleased to announce that our Partner, Adeniyi Adegbonmire, has been conferred with the rank of Senior Advocate of Nigeria (SAN) by the Nigerian Legal Practitioners Privileges Committee. He was sworn-in by the Chief Justice of Nigeria at the Supreme Court, Abuja on 21st September 2015. - [IP Newsletter - 3rd Edition, 2015](https://aluko-oyebode.com/insights/ip-newsletter-3rd-edition-2015/): The Trademarks Patents & Designs Registry has informed all applicants that a Power of Attorney (POA) document must be filed along with all applications to register trademarks, patents and designs. - [Regulatory Update - August 2015](https://aluko-oyebode.com/insights/regulatory-update-august-2015/): As part of its ongoing attempts at stabilizing the value of the Naira as against other foreign currencies, the Central Bank of Nigeria (CBN) issued a circular to all Nigerian banks on the 4th of August 2015, prohibiting Nigerian banks from granting foreign currency loans to customers who solely generate Naira denominated revenues from their businesses. - [The Nigerian Bar Association Stamps and Seals Scheme 2015](https://aluko-oyebode.com/insights/the-nigerian-bar-association-stamps-and-seals-scheme-2015/): The Nigerian Bar Association (“NBA”) had on 14 November, 2014 at its National Executive Committee meeting held at Uyo, Akwa Ibom State, approved the affixing of stamps and seals on legal documents prepared by legal practitioners in compliance with Rule 10 of the Rules of Professional Conduct, 2007, (“RPC”). - [The Justiciability of Unfair Labour Practices/International Best Practices in the Employment/Labour Industry](https://aluko-oyebode.com/insights/the-justiciability-of-unfair-labour-practices-international-best-practices-in-the-employment-labour-industry/): By virtue of the provisions of Section 254C(1)(f) of the Constitution of the Federal Republic of Nigeria 1999 (“the Constitution”)[1], the National Industrial Court (the “Court” or “NIC”) is conferred with jurisdiction to adjudicate on disputes relating to or connected with unfair labour practices or international best practices in the Nigerian Labour industry. - [Nigerian Courts Demonstrate Resolve in Promoting Arbitration](https://aluko-oyebode.com/insights/nigerian-courts-demonstrate-resolve-in-promoting-arbitration/): Arbitration is a method of dispute resolution which operates largely outside the state sponsored Court structure often utilized by businesses globally. - [Drawing the Curtains on the BOA Football Tournament 2015](https://aluko-oyebode.com/insights/drawing-the-curtains-on-the-boa-football-tournament-2015/): The Bankole Olumide Aluko (BOA) Football Tournament 2015 was a huge success. The closing ceremony started with the third place play-off match between Aluko & Oyebode and Tayo Oyetibo & Co./Bayo Osipitan & Co. - [Gbenga Oyebode, MFR “Lawyer in the News” featured in Law Digest, Issue 8, Spring 2015](https://aluko-oyebode.com/insights/gbenga-oyebode-mfr-lawyer-in-the-news-featured-in-law-digest-issue-8-spring-2015/): Mr. Gbenga Oyebode, MFR is a founding Partner of Aluko & Oyebode and is also the Chairman of the management board of Aluko & Oyebode. Over the years, Mr. Oyebode has development significant experience in project finance, corporate law, energy and natural resource, telecommunications and aviation law... - [IP NEWSLETTER - MAY 2015](https://aluko-oyebode.com/insights/ip-newsletter-may-2015/): We are happy to come back to our readers with an update on current happenings in our jurisdiction, firstly, our brand new government. - [Aluko & Oyebode Advises SEPLAT on US$1.7 BILLION CREDIT FACILITIES](https://aluko-oyebode.com/insights/aluko-oyebode-advises-seplat-on-us1-7-billion-credit-facilities/): luko & Oyebode acted as Nigerian Legal Counsel to Seplat Petroleum Development Company Plc (“the Borrower”) in connection with the provision of credit facilities to the Borrower by a syndicate of... - [Aluko & Oyebode Partner, Uche Nwokocha on How to Avoid Pitfalls When Investing in Africa](https://aluko-oyebode.com/insights/aluko-oyebode-partner-uche-nwokocha-on-how-to-avoid-pitfalls-when-investing-in-africa/): In an interview featured in International Trademark Association (INTA) Daily News, Aluko & Oyebode Partner, Uche Nwokocha spoke... - [Aluko & Oyebode advises on Guinness Nigeria Plc’s N10 Billion Commercial Paper Programme](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-guinness-nigeria-plcs-n10-billion-commercial-paper-programme/): Aluko & Oyebode acted as Transaction Counsel on the inaugural N10 Billion Commercial Paper Programme established by Guinness Nigeria Plc, a subsidiary of Diageo Plc. - [Webinar: Key Legal Issues in Nigerian Project Finance](https://aluko-oyebode.com/insights/webinar-key-legal-issues-in-nigerian-project-finance/): We are pleased to invite you to a webinar jointly hosted by Norton Rose Fulbright & Aluko & Oyebode on some of the emerging trends and key legal issues in project finance transactions in Nigeria. - [ARE LEGAL PRACTITIONERS OBLIGED TO COMPLY WITH THE MONEY LAUNDERING (PROHIBITION) ACT 2011?](https://aluko-oyebode.com/insights/are-legal-practitioners-obliged-to-comply-with-the-money-laundering-prohibition-act-2011/): In a bid to install and improve on an anti-money laundering regime in Nigeria and fight the financing of terrorism, the Money Laundering (Prohibition) Act 2011 (“the 2011 Act”) was enacted. - [Aluko & Oyebode Given Top Rankings in The Legal 500 EMEA 2015](https://aluko-oyebode.com/insights/aluko-oyebode-given-top-rankings-in-the-legal-500-emea-2015/): We are delighted to announce that The Legal 500 Europe, Middle East & Africa 2015 has recommended Aluko & Oyebode as a top tier law firm in four practice areas: - [Aluko & Oyebode Given Top Rankings in Chambers Global 2015 Guide](https://aluko-oyebode.com/insights/aluko-oyebode-given-top-rankings-in-chambers-global-2015-guide/): We are delighted to announce the release of the Chambers Global 2015 Guide and that Aluko & Oyebode is, once again, the only Nigerian law firm to be ranked in Band 1 in all practice areas assessed in Nigeria. - [NIGERIAN MERGERS AND ACQUISITIONS IN 2014 AND THE OUTLOOK FOR 2015](https://aluko-oyebode.com/insights/nigerian-mergers-and-acquisitions-in-2014-and-the-outlook-for-2015/): In 2014, a significant level of mergers and acquisitions (“M&A”) was recorded in various sectors of the Nigerian economy. The sectors included banking, oil and gas, food and beverages, power, insurance and manufacturing. - [Africa On The Global Arbitration Map: Are We Truly Prepared? - Babatunde Fagbohunlu, SAN featured in ESQ Legal Practice Magazine](https://aluko-oyebode.com/insights/africa-on-the-global-arbitration-map-are-we-truly-prepared-babatunde-fagbohunlu-san-featured-in-esq-legal-practice-magazine/): In this interview, Babatunde Fagbohunlu, SAN reviews Africa's position on the Arbitration... - [IP Newsletter - February 2015](https://aluko-oyebode.com/insights/ip-newsletter-february-2015/): We bring to you the first edition of our bi-monthly publication for 2015. What appeared from the on-set to be a busy year has since waned as a result of the uncertainty with Nigeria’s general election. - [TAX APPEAL TRIBUNAL ISSUES LANDMARK DECISION ON COMPUTATION OF BALANCING CHARGES](https://aluko-oyebode.com/insights/tax-appeal-tribunal-issues-landmark-decision-on-computation-of-balancing-charges/): In two consolidated appeals argued by a team from Aluko & Oyebode led by Chukwuka Ikwuazom, a tax partner in the firm, the Tax Appeal Tribunal (the “Tribunal”) on 12 February 2015 set aside assessments of additional Petroleum Profits Tax (PPT) and Education Tax (EDT) in the cumulative sum of US$166.1 Million which had been issued by the Federal Inland Revenue Service (“FIRS) on an international oil company (the “Appellant”) on the alleged basis that the Appellant wrongly calculated the balancing charge due on the disposal of its undivided participating interests in certain oil mining leases (“OMLs”). - [Aluko & Oyebode Obtains Justice for Murdered Gambian Journalist, Deyda Hydara at the ECOWAS Community Court of Justice](https://aluko-oyebode.com/insights/aluko-oyebode-obtains-justice-for-murdered-gambian-journalist-deyda-hydara-at-the-ecowas-community-court-of-justice/): Ten years after the gruesome murder of Deyda Hydara, the Government of The Gambia was held liable for failure to carry out a proper investigation into the murder of Deyda Hydara and the culture of impunity and denial of freedom of expression in The Gambia. - [The Bankole Olumide Aluko Football Tournament kicks off on Sunday 1st March 2015](https://aluko-oyebode.com/insights/the-bankole-olumide-aluko-football-tournament-kicks-off-on-sunday-1st-march-2015/): The Bankole Olumide Aluko (“BOA”) 5-A-Side Football Tournament, otherwise known as the Lawyers’ League, is a yearly football tournament set up to commemorate the life of the late BOA, a founding Partner of Aluko & Oyebode. - [HOW SUSTAINABLE IS THE EFFECT OF NIGERIA’S GDP REBASING?](https://aluko-oyebode.com/insights/how-sustainable-is-the-effect-of-nigerias-gdp-rebasing/): It is no doubt that the rebasing of a country’s Gross Domestic Product (GDP) firms up its position, as it helps improve the country’s economic profile amongst foreign portfolio investors and foreign direct investors. - [Aluko & Oyebode Admits 2 New Partners](https://aluko-oyebode.com/insights/aluko-oyebode-admits-2-new-partners/): The Partners of Aluko & Oyebode are pleased to announce the admission of Mrs. Olujoke Aliu and Mr. Ayodeji Oyetunde into the Partnership of the Firm. - [Aluko & Oyebode Advises AXA on its €198 Million Acquisition of a Majority Stake in Mansard Insurance Plc](https://aluko-oyebode.com/insights/aluko-oyebode-advises-axa-on-its-e198-million-acquisition-of-a-majority-stake-in-mansard-insurance-plc/): Aluko & Oyebode has advised AXA, a global insurance and asset management group, in connection with its successful acquisition of 100% of Assur Africa Holdings which hold a 77% equity stake in Mansard Insurance Plc (“Mansard”) from Africinvest, DEG, ADP, FMO and Proparco for €198 Million (US$246 Million). - [Aluko & Oyebode advises on Healthcare Project of the Year 2014](https://aluko-oyebode.com/insights/aluko-oyebode-advises-on-healthcare-project-of-the-year-2014/): The Calabar Specialist Hospital Project has been named the Healthcare Project of the Year 2014 by the World Finance Magazine. - [Aluko & Oyebode participates in Run For A Cure 2014](https://aluko-oyebode.com/insights/aluko-oyebode-participates-in-run-for-a-cure-2014/): Over the years, our firm has consciously embarked on CSR programmes and initiatives. From 2009 to date, Aluko & Oyebode has supported the ‘Run for a Cure’ programme initiated by Child Survival and Development Organisation of Nigeria (CS-DON) in its effort to raise awareness about Breast, Child and Cervical Cancer in Nigeria and also provide testing and treatment equipment to help give hope to people battling cancer. - [Aluko & Oyebode Wins Multiple Awards at the ESQ Nigerian Legal Awards Ceremony 2014](https://aluko-oyebode.com/insights/aluko-oyebode-wins-multiple-awards-at-the-esq-nigerian-legal-awards-ceremony-2014/): Aluko & Oyebode won the highly prestigious Law Firm of the Year Award at the ESQ Nigerian Legal Awards Ceremony 2014, which took place on Thursday, 18th September 2014. - [Aluko & Oyebode Partner bags Managing IP Award](https://aluko-oyebode.com/insights/aluko-oyebode-partner-bags-managing-ip-award/): Uche Nwokocha, Partner & Head of the Intellectual Property department at Aluko & Oyebode, received the award of IP Star of 2014 at the INTA Annual Meeting in Hong Kong held in May 2014. - [Aluko & Oyebode staff represents Nigeria at the International Visitor Leadership Program (IVLP)](https://aluko-oyebode.com/insights/aluko-oyebode-staff-represents-nigeria-at-the-international-visitor-leadership-program-ivlp/): The International Visitor Leadership Program (IVLP) is the U.S. Department of State’s premier professional exchange program. Through short-term visits to the United States, current and emerging foreign leaders in a variety of fields experience this country firsthand and cultivate lasting relationships with their American counterparts. - [Aluko & Oyebode partnership announcement](https://aluko-oyebode.com/insights/aluko-oyebode-partnership-announcement/): The Partners of Aluko & Oyebode are pleased to announce the admission of Mr. Oludare Senbore into the Partnership of the Firm. - [The International Comparitive Legal Guide to : Securitisation 2006](https://aluko-oyebode.com/insights/the-international-comparitive-legal-guide-to-securitisation-2006/): Under the common law as applicable in Nigeria, parties to a contract are free to determine the law that will govern their contractual obligations. Such choice must be bona fide and legal and there must not be any reason to avoid the choice on the ground of public policy. Even where the seller and the debtor are resident within Nigeria and the transaction that gives rise to the receivables and the payment of the receivables takes place in Nigeria, the foregoing principle will apply. However, the mandatory provisions of Nigerian law would continue to apply to the contract. - [IP Newsletter January 2013](https://aluko-oyebode.com/insights/ip-newsletter-january-2013/): New Year greetings from Aluko & Oyebode (A&O) as we bring you our bi-monthly and first newsletter for the year 2013. Last year was a busy one for us; we were fully engaged in serving our clients, writing articles, delivering papers at conferences, and improving our staff through regular training. We also increased our staff strength to adequately manage our large clientele base which continues to grow. - [Managing Partner appointed as an ambassador for Wimboard](https://aluko-oyebode.com/insights/managing-partner-appointed-as-an-ambassador-for-wimboard/): The board of Women in Management, Business and Public Service (WIMBIZ), appointed the Managing partner of Aluko & Oyebode, Mr. Gbenga Oyebode as an ambassador for Wimboard at their ongoing 2012 conference. - [IP Newsletter October 2012](https://aluko-oyebode.com/insights/ip-newsletter-october-2012/): Aluko & Oyebode (A&O) has re-launched its IP Newsletter in a new format with engaging content, the latest IP news in Nigeria, tips for foreign investors doing business in Nigeria, tips on the protection of IPRs and more. This bi-monthly newsletter is written with a view to address the concerns of several of our global clients on different IP issues. - [An Overview of the Petroleum Industry Bill](https://aluko-oyebode.com/insights/an-overview-of-the-petroleum-industry-bill/): The Petroleum Industry Bill (the “PIB” or the “Bill”) is perhaps the most talked about piece of legislation in Nigeria ever, given the far reaching reforms which it proposes to an industry which is the single most significant contributor to the national economy. Originally introduced in December 2008, the Bill has undergone numerous revisions and has been the subject of intense debate from stakeholders. - [An Overview of the Petroleum Industry Bill](https://aluko-oyebode.com/insights/an-overview-of-the-petroleum-industry-bill-2/): The Petroleum Industry Bill (the “PIB” or the “Bill”) is perhaps the most talked about piece of legislation in Nigeria ever, given the far reaching reforms which it proposes to an industry which is the single most significant contributor to the national economy. Originally introduced in December 2008, the Bill has undergone numerous revisions and has been the subject of intense debate from stakeholders. - [Aluko & Oyebode sponsors London's First Financial Law Forum Africa - IFLR Africa Forum 2012](https://aluko-oyebode.com/insights/aluko-oyebode-sponsors-londons-first-financial-law-forum-africa-iflr-africa-forum-2012/): Aluko & Oyebode was one of the sponsors at the recently concluded IFLR Africa forum in London. - [Editorial - Chamber & Partners](https://aluko-oyebode.com/insights/editorial-chamber-partners/): The firm has once again been identified as a top law firm in Nigeria in the Banking & Finance and Energy & Natural Resources and Corporate/Commercial areas of the practice The is a result of the world class service rendered by Aluko & Oyebode. - [NAILS JOURNAL OF INTELLECTUAL PROPERTY (NJIP)](https://aluko-oyebode.com/insights/nails-journal-of-intellectual-property-njip/): A Trademark is a major platform or format by which product owners project into streams of commerce, goods and services. - [Who's Who Legal Briefing](https://aluko-oyebode.com/insights/whos-who-legal-briefing/): Aluko & Oyebode achieves 18 listings across the following nine section of its practice in the recent release of the Who’s Who Legal Awards. - [National ICT Policy](https://aluko-oyebode.com/insights/national-ict-policy/): The National ICT Policy draft. - [Buying into Africa, an interview with Managing Partner, Gbenga Oyebode](https://aluko-oyebode.com/insights/buying-into-africa-an-interview-with-managing-partner-gbenga-oyebode/): Managing Partner, Gbenga Oyebode speaks on Challenges Investors should be ready for in Africa. - [Vacancy](https://aluko-oyebode.com/insights/vacancy/): The Lagos office has open positions for Senior Associates in its Litigation/ADR Practice Group - [IP Newsletter, April 2011](https://aluko-oyebode.com/insights/ip-newsletter-april-2011/): In its quest to digitize its operations and allow for online registration of trademarks, patents and designs, the Nigerian Trademarks, Patents and Designs Registry has now set up its official website that will allow for online registration of trademarks, patents and designs. - [IP Newsletter, February 2011](https://aluko-oyebode.com/insights/ip-newsletter-february-2011/): Registry News - ACC, Nigeria and INTA to Work Together for this Year's Roundtable - Aluko & Oyebode Listed in 2011 Patent Survey - SON Representative Speaks at the ACC General Meeting on SON’s Anti-Counterfeiting Operations - Aluko & Oyebode Admits New Partners, Promotes Associates to Senior Associates. - [Aluko & Oyebode is delighted to announce the elevation of Mr. Chukwuka Ikwuazom and Mr. Reginald Udom as Partners of the firm with effect from 1st January, 2011. 7 February 2011](https://aluko-oyebode.com/insights/aluko-oyebode-is-delighted-to-announce-the-elevation-of-mr-chukwuka-ikwuazom-and-mr-reginald-udom-as-partners-of-the-firm-with-effect-from-1st-january-2011-7-february-2011/): Aluko & Oyebode is delighted to announce the elevation of Mr. Chukwuka Ikwuazom and Mr. Reginald Udom as Partners of the firm with effect from 1st January, 2011. - [Message from the Intellectual Property Partner](https://aluko-oyebode.com/insights/message-from-the-intellectual-property-partner/): The year 2010 brought some good stories to tell as well as the bad ones both locally and internationally. The economic down turn of the past two years have not shown much of an improvement. The world politics have also recorded its share of decline. In spite of the vicissitudes that characterized this year, we have been able to record some developments in respect of Intellectual Property administration and protection. - [IP Newsletter - June 2010](https://aluko-oyebode.com/insights/ip-newsletter-june-2010/): Content - Marketing and Distributing Foods and Drugs in Nigeria - Trademarks News - INTA/ANTI – Counterfiting Coalition Conference - Aluko & Oyebode News - [Law Firm of the Year 2010](https://aluko-oyebode.com/insights/law-firm-of-the-year-2010/): Aluko & Oyebode has been named Nigeria Law Firm of the Year 2010 in the Who’s Who Legal Awards. With the benefit of over 12 years of independent research, Who’s Who Legal used the thousands of nominations it has received from clients and private practice professionals to identify the leading firms and individuals in 31 practice areas, as well as the top firm in over 50 countries and five US states. - [Getting the Deal Through - Public Procurement 2010](https://aluko-oyebode.com/insights/getting-the-deal-through-public-procurement-2010/): Reproduced with permission from Law Business Research. This article was first published in Getting the Deal Through - Public Procurement 2010 (published in April 2010; Contributing Editor Hans-Joachim Prieß, Freshfields Bruckhaus Deringer). For further information please visit www.GettingTheDealThrough.com - [IP Newsletter - February 2010](https://aluko-oyebode.com/insights/ip-newsletter-february-2010/): This edition of the Aluko & Oyebode IP newsletter for February 2010 contains the following items of interest:- 1. A case for Multiple Collecting Societies for the Nigerian Entertainment Industry 2. Trademark News 3. Standards Organisation of Nigeria 4. Anti-counterfeiting Collaboration, Nigeria 5. National Agency for Food, Drugs, Administration and Control (NAFDAC) unveils New Anti-Counterfeiting Service. 6. The Aluko & Oyebode's Bankole Olumide Aluk (BOA) Football Tournament Kicks Off - [IP Newsletter - December 2009](https://aluko-oyebode.com/insights/ip-newsletter-december-2009/): CONTENT Message from the Intellectual Property Law Partner Domain Name Branding: The Expectations of Intellectual Property Right Owners Registry News – Workshop - "Building a 21st Century Trade Mark Registry in Nigeria" New Journal is out - [Regulatory Updates - November 2009](https://aluko-oyebode.com/insights/regulatory-updates-november-2009/): The Regulatory updates November 2009 issue addresses the following:- 1. CENTRAL BANK OF NIGERIA COMMUNIQUE NO. 66 OF THE MONETARY POLICY COMMITTEE MEETING, NOVEMBER 03, 2009. 2. AMMENDMENT OF PROVISIONS OF MEMORANDUM 11 ON EXPORT TRANSACTION IN THE FOREIGN EXCHANGE MANUAL Ref: TED/FEM/FPC/GEN/01/158/09 DATED 2ND NOVEMBER 2009 3. PRESS STATEMENT DATED 4TH NOVEMEBR 2009 4. PRESS STATEMENT ON EQUITORIAL TRUST BANK DATED 4TH NOVEMBER 2009 5. PRESS RELEASE DATED 13TH NOVEMBER 2009: UPDATE ON BANKING REFORMS 6. IMPORTATION OF COLD ROLL STEEL COILS AND ALUMINIUM ROOFING SHEETS INTO NIGERIA Ref: TED/FEM/GEN/FPC/01/163/09 DATED 13TH NOVEMBER 2009 7. GUIDELINES ON THE ISSUANCE AND TREATMENT OF BANKERS ACCEPTANCES AND COMMERCIAL PAPERS DATED 18TH NOVEMBER 2009 8. NOTICE OF MEETING ON IMPORT DUTY COLLECTION SCHEME (IDCS) Ref: TED/FEM/GEN/FPC/01/67 DATED 25th November 2009 - [Regulatory Updates - October 2009](https://aluko-oyebode.com/insights/regulatory-updates-october-2009/): The Regulatory updates October 2009 issue addresses the following:- 1. Publication of Interest Rates. Ref BSD/DIR/IGEN/CIR/01/023 Dated 14th October 2009 2.Central Bank of Nigeria Public Statement Dated 16th October 2009 3.Central Bank of Nigeria Press Statement 4.Publication of Un-audited Accounts of Banks as at September 30, 2009. Ref:SD/DIR/GEN/CIR/03/024 DATED 26TH OCTOBER 2009 - [IP Newsletter - September 2009 Edition](https://aluko-oyebode.com/insights/ip-newsletter-september-2009-edition/): The September 2009 issue of the IP newsletter contains the following:- - Nollywood Business Forum - INTA/ACEC - ACC Nigeria Roundtable - Trademarks Registry News - Nigerian Bar Association (NBA), Lagos Branch Conduct Elections - NBA Annual Conference: The Largest Gathering of Lawyers in Sub-Sahara Africa - ICANN Conference for Domain Name System Operation - Nigeria's Independence Celebration. - [Court fixes May 27 for adoption of briefs in oil block dispute](https://aluko-oyebode.com/insights/court-fixes-may-27-for-adoption-of-briefs-in-oil-block-dispute/): Court fixes May 27 for adoption of briefs in oil block dispute The Guardian - Nigeria - Lagos,Nigeria ... Chief Robert Clarke SAN with whom was Babatunde Fagbonhunlu SAN, of Aluko and Oyebode law firms. But before the court admitted the said documents, ... - [The International Comparative Legal Guide to: Public Procurement 2009](https://aluko-oyebode.com/insights/the-international-comparative-legal-guide-to-public-procurement-2009/): This article appeared in the 1st edition of The International Comparative Legal Guide to: Public Procurement; published by Global Legal Group Ltd, London (www.iclg.co.uk) authored by Gbenga Oyebode and Olubunmi Fayokun - [Getting the Deal Through - Public Procurement 2008](https://aluko-oyebode.com/insights/getting-the-deal-through-public-procurement-2008/): Reproduced with permission from Law Business Research. This article was first published in Getting the Deal Through – Public Procurement 2008, (published in May 2008 - contributing editor: Hans-Joachim Prieâ). For further information please visit www.gettingthedealthrough.com - [IP Newsletter - March 2008](https://aluko-oyebode.com/insights/ip-newsletter-march-2008/): This edition of the IP Newsletter contains the following articles Adobe - Licence to Learn/Formal Launch of Adobe in Nigeria; Update on Service Marks in Nigeria; International Franchise Seminar; Commonwealth Business Council (CBC) /Federation of Intellectual Property Owners (FIPO) Intellectual Property Conference; DWS Africa Steering Committee Meeting: Africa - Regional Expansion and Opportunities; Aluko & Oyebode Sponsors Two Officials From Nigerian Trademarks Registry for INTA 2008; 3rd Annual Nigerian Bar Association (NBA) Section on Business Law Conference and The Anti- - [IP Newsletter - January 2008](https://aluko-oyebode.com/insights/ip-newsletter-january-2008/): This edition of the IP Newsletter contains the following articles; Judges' Conference: Workshop on the Adjudication of Intellectual Property Cases; Nigeria & The Tobacco Industry; Update on Service Marks in Nigeria; Nigeria Customs Service; Standard Organisation of Nigeria (SON); Consumer Protection Council (CPC) Wins West Africa Consumer Protection Award; Director General of NAFDAC Wins Best Service Delivery Awards; Fourth Global Congress on Combating Counterfeiting and Piracy - Dubai 2008; The Anti-Countefeiting Coalition (ACC) Nigeria; The Collecting Society; A Panacea for Piracy and Development for the Copyright Industry in Nigeria and Admission to Partnership. - [IP Newsletter - November 2007](https://aluko-oyebode.com/insights/ip-newsletter-november-2007/): This edition of the IP Newsletter contains the following articles; Nigerian Copyright Commission (NCC), United States Governments Train Enforcement Officers; Nigerian Copyright Commission Trains Staff on Disc Piracy; Nigeria Pledges to Boost Intellectual Property Investment; Intertek and Standards Organisation of Nigeria Renew the SONCAP Contract; Nigeria Trade Marks Registry; NAFDAC Hologram and Other Anti-Counterfeiting Solutions Workshop; SON gives Manufacturers December Deadline on Standardisation; The Anti-Counterfeiting Coalition (ACC) and Aluko & Oyebode's Annual Retreat. - [IP Newsletter - September 2007](https://aluko-oyebode.com/insights/ip-newsletter-september-2007/): This edition of the IP Newsletter contains the following articles Court Resolves Trademark Suit Against Three Companies; NAFDAC Re-opens Onitsha Drug Market; Nigerian Copyright Commission & EFCC Unite to Combat Piracy; Update on Guiness Nigeria Plc and NAFDAC's Fight Over Adulterated Product; Kano State Government Sues Pfizer, Nigerian Customs Service Arrest Two Vehicles with Contraband; NAFDAC Arrest 30 Persons Over Fake Products and Nigeria Trademarks Registry and Report From The Anti-Counterfeiting Coalition (ACC) Meeting. - [Amended Uniform State Arbitration and Conciliation Bill](https://aluko-oyebode.com/insights/amended-uniform-state-arbitration-and-conciliation-bill/): PROPOSED UNIFORM STATE ARBITRATION AND CONCILIATION BILL. ARRANGEMENT OF SECTIONS. PART 1 - [Amended Report](https://aluko-oyebode.com/insights/amended-report/): Amended report from the National Committee on the Reform and Harmonisation of Arbitration and ADR Laws in Nigeria - [Acknowledgement](https://aluko-oyebode.com/insights/acknowledgement/): Acknowledgements from the members of the National Committee on the Reform of Nigeria's Arbitration and ADR Laws - [IP Newsletter - June 2007](https://aluko-oyebode.com/insights/ip-newsletter-june-2007/): This edition of the IP Newsletter contains articles on US Delists Nigeria from Piracy Blacklist; Trade Mark Journal; Nigeria Appoints a New Registrar; Nigerian Serive Marks - Update; National Agency of Food and Drugs Administration and Control (NAFDAC) and Global Anti-Counterfeiting Group (GACG) Awards - [The International Comparative Legal Guide to: Environmental Law 2007 A practical insight to cross-border Environmental Law](https://aluko-oyebode.com/insights/the-international-comparative-legal-guide-to-environmental-law-2007-a-practical-insight-to-cross-border-environmental-law/): This article appeared in the 2007 edition of The International Comparative Legal Guide to: Environmental Law 2007 ; published and reproduced with kind permission by Global Legal Group Ltd, London (www.iclg.co.uk) and was authored by Oghogho Makinde and Temitayo Adegok. - [IP Newsletter - May 2007](https://aluko-oyebode.com/insights/ip-newsletter-may-2007/): This edition of the IP Newsletter contains the following articles Regulation on Protection of Service Marks in Nigeria; NAFDAC's Continued Efforts Against Fake Drugs and 2007 Nigerian Elections - [The International Comparative Legal Guide to Securitisation 2006 - NIGERIA](https://aluko-oyebode.com/insights/the-international-comparative-legal-guide-to-securitisation-2006-nigeria/): The International Comparative Legal Guide to Securitisation 2006 - NIGERIA - this article appeared in the 2006 edition of The International Comparative Legal Guide to: Securitisation; published and reproduced with the kind permission of Global Legal Group Ltd, London, www.iclg.co.uk - [The International Comparative Legal Guide to: Gas Regulation 2007](https://aluko-oyebode.com/insights/the-international-comparative-legal-guide-to-gas-regulation-2007/): This article appeared in the 2007 edition of The International Comparative Legal Guide to: Gas Regulation; published and reproduced with kind permission by Global Legal Group Ltd, London and authored by Gbenga Oyebode and Kofo Dosekun - [IP NEWSLETTER - September/October 2006](https://aluko-oyebode.com/insights/ip-newsletter-september-october-2006/): Aluko & Oyebode, as a leading Intellectual Property Law firm in Nigeria, publishes IP Newsletters & Updates in respect of all important intellectual property developments in Nigeria. Read our September/October 2006 newsletter online or send us an e-mail to be included in our mailing list. - [The International Comparative Legal Guide to: Environmental Law 2006 A practical insight to cross-border Environmental Law](https://aluko-oyebode.com/insights/the-international-comparative-legal-guide-to-environmental-law-2006-a-practical-insight-to-cross-border-environmental-law/): This article appeared in the 2006 edition of The International Comparative Legal Guide to: Environmental Law 2006 ; published and reproduced with kind permission by Global Legal Group Ltd, London (www.iclg.co.uk) and was authored by Oghogho Makinde and Bukola Ayanbule - [IP Newsletter & Updates - January/February 2007](https://aluko-oyebode.com/insights/ip-newsletter-updates-january-february-2007/): This edition of the IP Newsletter contains articles on the Anti-Counterfeiting Coalition; Aluko & Oyebode IP Watching Service; NAFDAC; IP Law Reform Update; - [The International Comparative Legal Guide to: PFI / PPP Projects 2007](https://aluko-oyebode.com/insights/the-international-comparative-legal-guide-to-pfi-ppp-projects-2007/): "This article first appeared in the 2007 edition of The International Comparative Legal Guide to: PFI / PPP Projects; published by Global Legal Group Ltd, London (www.iclg.co.uk) authored by Gbenga Oyebode and Oghogho Makinde" - [IBA Biennial Conference 2006. Section on Energy, Environment, Natural Resources & Infrastructure Law (SEERIL)](https://aluko-oyebode.com/insights/iba-biennial-conference-2006-section-on-energy-environment-natural-resources-infrastructure-law-seeril/): Mr. Gbenga Oyebode was the Chair at the Orientation Session of the IBA Biennial Conference 2006 Rome. The session was designed to provide an introduction and overview of areas of practise that will be addressed in greater depth on more specific topics during the Conference. - [IP Newsletter - December 2006](https://aluko-oyebode.com/insights/ip-newsletter-december-2006/): This edition of the IP Newsletter contains articles on Nigerian national Broadcasting Commission ("NBC") Enforcing Restriction on Broadcasting Licensing; Anti-Counterfeiting Coalition; Intellectual Property (IP) Law Reforms in Nigeria; Nigerian Copyright Commission and National Office for Technology Acquisition and Promotion (NOTAP). - [New Regional Representatives for YIAG](https://aluko-oyebode.com/insights/new-regional-representatives-for-yiag/): The LCIA is delighted to announce that the following Regional Representatives were appointed in February 2006 for a three year term: Africa: Adesina Salawu - Aluko & Oyebode - [West Africa: Ecowas Declares Support for Bauxite Mining At Kibi-Atiwa - Minister](https://aluko-oyebode.com/insights/west-africa-ecowas-declares-support-for-bauxite-mining-at-kibi-atiwa-minister/): THE MINISTER of Regional Cooperation and NEPAD, Dr. Konadu Apraku, has said that the Economic Community Of West African States (ECOWAS) has recommended that member states should jointly undertake the processing of the huge bauxite deposits in Kibi-Atewa and Nyinahin to supply raw materials for the Aluminum Smelting factory in Tema (VALCO) and the Aluminum Smelting Company at Ikot-Abasi, in Nigeria. - [Nigeria: Privatisation - FG, Oil Workers Agree On Refineries](https://aluko-oyebode.com/insights/nigeria-privatisation-fg-oil-workers-agree-on-refineries/): The Federal Government and oil workers' unions have reached an agreement to privatise the nation's four refineries. The pact may have successfully nipped in the bud, a planned nationwide strike by oil workers to protest the sale of the ailing plants. - [The International Comparative Legal Guide to: International Arbitration 2006](https://aluko-oyebode.com/insights/the-international-comparative-legal-guide-to-international-arbitration-2006/): This article appeared in the 2006 edition of The International Comparative Legal Guide to: Intnl Arbitration 2006 ; published and reproduced with kind permission by Global Legal Group Ltd, London and was authored by Babatunde J Fagbohunlu and Mark Mordi - [Nigeria: Port Reform - Maritime Workers Give Strike Notice Over Retrenchment Fears](https://aluko-oyebode.com/insights/nigeria-port-reform-maritime-workers-give-strike-notice-over-retrenchment-fears/): Ports industry which for years has enjoyed relative peace may soon be engulfed in crisis as members of the Maritime Workers Union of Nigeria (MWUN) may go on strike to protest the ongoing port concessioning in the country. - [The International Comparative Legal Guide to: Gas Regulation 2006 (Nigeria).](https://aluko-oyebode.com/insights/the-international-comparative-legal-guide-to-gas-regulation-2006-nigeria/): This article appeared in the 2006 edition of The International Comparative Legal Guide to: Gas Regulation; published and reproduced with kind permission by Global Legal Group Ltd, London - [The International Comparitive Legal Guide to: Environmental Law 2006](https://aluko-oyebode.com/insights/the-international-comparitive-legal-guide-to-environmental-law-2006/): This article appeared in the 2006 edition of The International Comparative Legal Guide to: Environmental Law 2006 ; published and reproduced with kind permission by Global Legal Group Ltd, London and was authored by Oghogho Makinde, Bukola Ayanbule - [National Committee on the Reform and Harmonisation of Nigeria's Arbitration and ADR Laws](https://aluko-oyebode.com/insights/national-committee-on-the-reform-and-harmonisation-of-nigerias-arbitration-and-adr-laws/): By: Babatunde Fagbohunlu - [NCC Declarations..](https://aluko-oyebode.com/insights/ncc-declarations/): By: NCC - [Doing Business in 2005 - Removing Obstacles to Growth](https://aluko-oyebode.com/insights/doing-business-in-2005-removing-obstacles-to-growth/): A co-publication of the World Bank, the International Finance Corporation and Oxford University Press. 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