Public Private Partnerships in Nigeria
Promoters faced a tight deadline to prepare and submit their bid, necessitating rapid yet thorough legal and technical reviews
Aligning Senior & Junior Partner Interests in a Venture Capital Fund
The existing compensation arrangements failed to adequately incentivise junior team and to reflect the actual contributions of senior partners
Legal Due Diligence in a Nigerian M&A Transaction
The Client, a leading renewable energy firm, sought to acquire a controlling stake in a mid-sized Nigerian energy company to expand its footprint in Africa’s burgeoning renewable energy sector.
The CBN FX Code: Moving From Rules to Principles
The introduction of the draft CBN FX Code marks a significant milestone in Nigeria’s foreign exchange market regulation as it signifies a shift away from a regulatory approach that is largely rules-based toward a more dynamic, principles-based regulatory approach. Effectively,
The CBN FX Code: Key Principles
The draft FX Code, issued by the Central Bank of Nigeria (CBN) in October 2024, establishes a set of principles designed to promote a robust, fair, and transparent foreign exchange market. The FX Code seeks to enhance the integrity and...
Intermediary Liability: Legal Considerations for Tech Platforms in Nigeria
Intermediary liability, as a legal and policy concern, raises the question: To what extent should tech platforms bear financial or criminal responsibility for the online actions or omissions of their users? As digital platforms continue to reshape industries and societies,...
Central Bank Immunity and Fundamental Human Rights: Matters Arising
A recent court decision, Chris vs. CBN, raises important questions regarding the doctrine of central bank immunity in Nigeria. In this case, the Court upheld a new central banking regulation (“Regulation 6a”) that requires Nigerian banks to collect customers' social...
Private Equity Investments in Private Companies – Financial Assistance Considerations
The prohibition of financial assistance to private equity firms and other equity investors is probably the most important legal barrier to the growth of the local leveraged buyout market. With the passage of the Companies Act in 2020, private companies...
Some Compliance Learnings from FCCPC’s $220 million fine on Meta
Until FCCPC's Decision imposing a $220m fine on Meta has been successfully appealed, the legal principles enumerated in the decision as well as the conclusions reached therein are generally legally binding on businesses operating in Nigeria. Without a doubt, the...
A Primer on Hell or High Water Clauses in Aviation Leases
"Hell or high water clauses" are a standard fixture of aviation leases and it appears that courts will generally enforce "hell or high water clauses" in aviation leases, in the absence of extenuating factors. This legal update provides a primer...