Overview
Nigeria’s pre-eminent banking and finance practice.
Aluko & Oyebode has closed more landmark Nigerian financings than any other law firm. From multi-billion dollar syndicated facilities to pioneering Islamic finance structures, project financings, and acquisition finance, we are an award-winning team delivering exceptional counsel on some of the most significant, innovative and novel financial transactions.
Our clients include Nigeria’s Tier 1 banks, international financial institutions, development finance institutions, corporate borrowers, private equity sponsors, and infrastructure developers. We advise lenders and borrowers across every financing structure, syndicated lending, project finance, acquisition finance, trade finance, Islamic finance, and asset-based lending.
We combine technical excellence in finance documentation with deep understanding of Nigeria’s banking regulation, CBN policy, foreign exchange complexities, and security enforcement realities. Our team doesn’t just draft documents, we structure financings that work in Nigeria’s challenging environment, navigating approval processes, perfecting security despite registry limitations, and crafting enforcement mechanisms that deliver real creditor protection.
Band 1 for Banking & Finance (Chambers Global) and Tier 1 (IFLR1000 and Legal500 EMEA). When the transaction is transformational and execution is critical, clients choose Aluko & Oyebode.
Services
Acquisition & Leveraged Finance
Structuring acquisition finance, LBOs, and MBOs for private equity sponsors and corporates. We advise on senior facilities, mezzanine structures, holdco/bidco architectures, security packages, and intercreditor arrangements for leveraged transactions.
Banking Regulation & Licensing
Strategic regulatory counsel for banks, fintechs, and NBFIs. We advise on CBN licensing, prudential regulation, capital adequacy, recapitalization compliance, AML/CFT, consumer protection, and regulatory investigations.
Islamic Finance
Nigeria’s leading Islamic finance practice. We structure Murabaha, Ijarah, Wakala, Sukuk, and hybrid products, ensuring AAOIFI compliance, Shariah board approvals, and regulatory alignment with CBN and SEC frameworks.
Project & Infrastructure Finance
Limited and non-recourse project financings across power, oil and gas, telecommunications, and transportation infrastructure. We structure complex arrangements involving multilateral lenders, ECAs, commercial banks, and DFIs, navigating concession agreements, offtake arrangements, and political risk mitigation.
Syndicated & Bilateral Lending
Structuring large-scale syndicated and bilateral facilities, term loans, revolving credit facilities, bridge financings, refinancings. We advise on intercreditor arrangements, priority agreements, cross-border guarantees, and multi-jurisdictional security for both lenders and borrowers.
Selected Experience
Africa Finance Corporation’s US$2 billion Syndicated Term Loan Facility
Nigerian counsel on $400 million Islamic facility, structuring profit-sharing mechanics, ensuring AAOIFI compliance, and coordinating multi-jurisdictional Shariah-compliant documentation.
European Investment Bank Financing for an MTN Nigeria Communications Plc Project
Advised MTN Nigeria Communications PLC: a leading telecommunication company in Nigeria in respect of the financing provided by the European Investment Bank for the development of a project to be undertaken by the borrower (MTN Nigeria Communications Plc).
Fidelity Bank’s US$54.74 million Structured Credit Facility to Energia Limited
Sole Nigerian counsel on AFC’s debut $500 million hybrid bond, advising on Tier 1 capital structuring, offering documents, and cross-border syndication for pan-African infrastructure development.
Standard Chartered Bank’s US$50 million Revolving Credit Facility to OIS Indorama Port Limited
Advised Standard Chartered Bank, Singapore Branch in connection the provision of a revolving credit facility in the sum of US$50,000,000.00 to OIS Indorama Port Limited for the refinancing of its existing financial indebtedness and funding its working capital and maintenance capital expenditure.
Standard Chartered Bank’s US$200 million Term Credit Facility and US$400 million Revolving Credit Facility to IHS Holding Limited
Aluko & Oyebode acted as Nigerian legal counsel to Standard Chartered Bank as lender in connection with a dual-tranche financing package comprising a US$200 million term credit facility and a US$400 million revolving credit facility advanced to IHS Holding Limited, a Cayman Islands company.
US$10 million Financing for Eastcastle Infrastructure Nigeria Limited
Aluko & Oyebode acted as lead counsel to the Finance Parties in connection with a term loan facility of up to the naira equivalent of US$10 million provided to Eastcastle Infrastructure Nigeria Limited to finance capital expenditure for the construction of build-to-suit telecommunications towers across Nigeria
AFC $400M Shariah-Compliant Commodity Murabaha
Nigerian counsel on $400 million Islamic facility, structuring profit-sharing mechanics, ensuring AAOIFI compliance, and coordinating multi-jurisdictional Shariah-compliant documentation.
Africa Finance Corporation $500M Hybrid Perpetual Bond
Sole Nigerian counsel on AFC’s debut $500 million hybrid bond, advising on Tier 1 capital structuring, offering documents, and cross-border syndication for pan-African infrastructure development.
Azura-Edo IPP $900M Limited-Recourse Financing
Advised on landmark power project financing, coordinating World Bank, AfDB, ECAs, and commercial banks on Nigeria’s first privately financed IPP under the Power Sector Reform Act.
Bank of Industry €1.87 Billion Syndicated Debt Issuance Facility Confirmed
Nigerian counsel in the €1.87 billion syndicated debt issuance facility for the Bank of Industry (BOI), structured alongside Africa Finance Corporation (AFC) and African Export-Import Bank (Afreximbank), coordinating multi-lender syndication, documentation, and regulatory compliance.
Nigerian Banking Sector Recapitalization Advisory
Advising multiple Tier 1 and Tier 2 banks on CBN’s ₦500 billion recapitalization directive, structuring capital raising strategies, rights issues, private placements, and regulatory engagement.
Client Quotes
“The team at Aluko & Oyebode understands the Nigerian market well. The team is very responsive and well resourced, with well-rounded associates.”
“Aluko & Oyebode is a highly skilled law firm at the forefront of the Nigerian market, which is well known for its involvement in high-value banking transactions, acting on behalf of both domestic and international companies. It is adept at handling a variety of matters including structured trade agreements, foreign exchange contracts and secure lending agreements. The team earns recognition for its exceptional handling of a range of project finance matters, particularly in the oil and gas sector.”
Chambers Global
“A & O reviewed and advised on the transaction with such distinct level of depth and made the bank understand all the options available in the circumstance. Their advice was a guiding light for the bank.”
Key Contacts
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Awards and Accolades
Band 1 in Banking & Finance (Nigeria) Ranked Band 1 (top tier) for the 20th consecutive year in Chambers Global 2025
Chambers Global 2025
Tier 1 in Banking
IFLR1000 Sub-Saharan Africa 2025
Deal of the Year – Debt Awarded Deal of the Year – Debt for advising as Nigerian counsel on the €1.87 billion syndicated debt issuance facility for the Bank of Industry (in collaboration with Africa Finance Corporation and Afreximbank).
African Banker Awards 2025
Tier 1 in Banking, Finance & Capital Markets
Legal 500 EMEA 2025
Recognition in FinTech
Chambers FinTech Legal Guide 2025
Syndicated Loan Deal of the Year Recognized in connection with the landmark syndicated loan facilitated by Africa Finance Corporation (AFC) for Bank of Industry (BOI), valued at approximately €1.87 billion.
Global Banking & Markets Africa 2025
Best Syndicated Loan Highlighted through AFC’s win for Best Syndicated Loan on its US$1.16 billion syndicated loan facility. Aluko & Oyebode acted as Nigerian counsel to a global syndicate of lenders on this landmark USD 1.16 billion equivalent (dual-currency) facility to AFC, coordinating complex cross-border documentation, compliance, and syndication
EMEA Finance Achievement Awards 2024
Thought Leadership
