Overview
Pioneers in Capital Markets
Aluko & Oyebode has advised on more Nigerian equity and debt offerings than any other law firm. From groundbreaking IPOs and dual listings to landmark bond programs, Sukuk issuances, and hybrid securities, we set the standard for capital markets excellence in Nigeria.
We represent issuers, underwriters, and institutional investors across public offerings, private placements, debt capital markets, Islamic securities, and exchange listings. Our clients include Nigeria’s largest corporations, financial institutions, sovereign and sub-sovereign issuers, and international investment banks accessing Nigerian markets.
Our team delivers seamless execution in Nigeria’s demanding regulatory environment. We navigate SEC registration complexity, NGX listing requirements, FMDQ quotation, prospectus preparation, and due diligence coordination, closing transactions on tight timelines while maintaining the highest technical standards.
Tier 1 for Capital Markets (IFLR1000). Band 1 (Chambers Global). When Nigeria’s most important issuances come to market, they come through Aluko & Oyebode.
Services
Cross-Border Listings & Offerings
Dual listings, GDR/ADR programs, international bond offerings, and multi-jurisdictional securities transactions. We coordinate cross-border offerings, navigate exchange controls, structure repatriation mechanisms, and ensure Nigerian and international regulatory compliance.
Debt Capital Markets
Corporate bonds, commercial paper programs, MTN programs, green bonds, and sovereign/sub-sovereign debt. We advise on FMDQ quotation, SEC registration, trustee arrangements, credit enhancement, and investor documentation for naira and foreign currency offerings.
Equity Capital Markets
IPOs, rights issues, private placements, accelerated bookbuilds, block trades, and follow-on offerings. We handle NGX listings, SEC registration, prospectus preparation, underwriting arrangements, and stabilization, representing issuers, selling shareholders, and underwriting syndicates.
Islamic Financing
Nigeria’s leading Sukuk practice. We structure sovereign and corporate Sukuk, ensuring AAOIFI compliance, Shariah board approvals, and SEC regulatory alignment. We pioneered Nigeria’s Islamic capital markets framework.
Structured Products & Hybrid Securities
Innovative capital instruments, convertible bonds, preference shares, perpetual bonds, hybrid Tier 1 capital. We advise on regulatory classification, accounting treatment, tax optimization, and investor documentation for complex securities.
Selected Experience
Access Bank US$500M Basel III Additional Tier 1 Eurobond Issuance Additional Tier 1 Capital
Advised Access Bank Plc on Nigeria’s first Basel III-compliant Perpetual Non-Call Additional Tier 1 Eurobond issuance
Citibank Nigeria Limited Rights Issue Capital Raise
Advised as Legal Adviser to the Issuer on rights issue capital raise, offering ordinary shares to existing shareholders to meet CBN’s ₦200 billion national banking license recapitalization threshold ahead of March 2026 deadline; preparing/reviewing corporate authorizations, ensuring full regulatory compliance (SEC/CBN/CAC), facilitating share capital increase/allotment, and navigating complexities of international bank governance alongside Nigerian law
FCMB-TLG Private Debt Fund ₦100 Billion Fund Establishment
Advised FCMB Asset Management Limited and TLG Capital Investments Limited on the establishment and offer of up to ₦100 billion private debt fund, the first of its kind in the Nigerian capital markets, structuring Series II units subscription, regulatory compliance with SEC/FMDQ, and innovative private placement framework for institutional investors.
GTCO $100M Dual Listing – NGX & London Stock Exchange
Advised on pioneering dual listing on LSE Main Market while maintaining NGX quotation, structuring GDR termination, facilitating cross-exchange transfers, and coordinating two-jurisdiction regulatory compliance.
MCM Funding SPV Plc Series 1 Bond Issuance ₦5 Billion Bond Issuance
Advised MCM Funding SPV Plc as Solicitor to the Issuer on the Series 1 fixed-rate bond issuance of up to ₦5 billion under a ₦50 billion bond issuance programme, structuring the offer, managing SEC and FMDQ approvals, trustee arrangements, and deployment in corporate financing within Nigeria’s debt capital markets
Sterling Financial Holdings Company Plc N150 Billion Capital Raise Rights Issue & Private Placement
Advised as Joint Solicitor to the Issuer on phased ₦150 billion capital raise, structuring diversified strategy including downstreaming to banking subsidiary, securing regulatory approvals (SEC/NGX/CBN), preparing/reviewing corporate authorizations, placement memorandum/rights circular, and legal opinions to support business operations and recapitalization compliance
Client Quotes
“They have deep expertise in capital markets transactions and provide pragmatic, commercially aware advice.”
Key Contacts
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Awards and Accolades
Band 1 in Capital Markets (20th consecutive year); highest number of firm-wide and individual rankings among Nigerian firms (14 lawyers ranked across 10 categories, including 3 in Capital Markets: Olubunmi Fayokun, Ayodeji Oyetunde, Ajibola Asolo).
Chambers Global 2025
Law Firm of the Year – Nigeria; 20 lawyers ranked with 88 individual listings, including strong Capital Markets recognition.
Lexology Index Awards 2025
Tier 1 / Highly Regarded in Capital Markets: Debt and Equity; Olubunmi Fayokun recognised as Highly Regarded and Women Leader in Capital Markets.
IFLR1000 Sub-Saharan Africa 2025
Shortlisted in Equity Capital Markets (Deal of the Year).
IFLR Africa 2026 Awards Shortlist
Tier 1 in Corporate/M&A and Banking & Finance (practices that encompass Capital Markets); client quote: “Aluko & Oyebode delivers outstanding service in complex capital markets and equity/debt offerings with seamless execution.”
IFLR Africa 2026 Awards Shortlist
Awards and Accolades
Thought Leadership
