Financial Intermediation
We act as trusted independent and real-time advisors to financial institutions like banks as well as a variety of sophisticated and institutional investors, including investment banking firms, venture capital firms, accelerators and incubators, angel investors, endowments, pension funds and insurance firms. Our financial intermediation practice combines deep industry knowledge with comprehensive legal expertise, serving clients across Nigeria and Africa. We provide strategic counsel on Corporate & Private Banking, Fund Formation & Fund Operations, Legal Due Diligence, Mergers & Acquisitions, helping businesses navigate complex regulatory frameworks and achieve their commercial objectives.
Our team understands the unique challenges facing companies in this sector and delivers practical, business-focused solutions that protect client interests while facilitating growth and innovation. With extensive experience representing leading companies, financial institutions, and investors in financial intermediation matters, Balogun Harold has established itself as a trusted advisor in this sector. Our team's deep understanding of Nigerian law, combined with international best practices, enables us to deliver strategic counsel that helps clients maintain competitive advantage while ensuring regulatory compliance. We work closely with clients to develop comprehensive legal strategies that align with their business goals and support long-term success in Nigeria's dynamic market. Our financial intermediation practice combines deep industry knowledge with comprehensive legal expertise, serving clients across Nigeria and Africa. We provide strategic counsel on Corporate & Private Banking, Fund Formation & Fund Operations, Legal Due Diligence, Mergers & Acquisitions, Regulatory Guidance & Licenses, Leveraged & Acquisition Finance, helping businesses navigate complex regulatory frameworks and achieve their commercial objectives.
Our team understands the unique challenges facing companies in this sector and delivers practical, business-focused solutions that protect client interests while facilitating growth and innovation. We work with leading corporations, financial institutions, and investors to structure transactions, ensure regulatory compliance, and manage legal risks effectively. With extensive experience representing clients in financial intermediation matters, Balogun Harold has established itself as a trusted advisor in this sector. Our team's deep understanding of Nigerian law, combined with international best practices, enables us to deliver strategic counsel that helps clients maintain competitive advantage while ensuring regulatory compliance. We work closely with clients to develop comprehensive legal strategies that align with their business goals and support long-term success in Nigeria's dynamic market. Our approach emphasizes proactive risk management, regulatory compliance, and strategic planning, enabling clients to make informed decisions and achieve their business objectives.
We support our Clients with:
Notable Experience
Partial Risk Guaranteed Standby Letter of Credit
Advised a leading investment bank on a Partial Risk Guaranteed Standby Letter of Credit to be issued by the investment bank acting as L/C Issuing Bank under a USD$150 million Reimbursement and Credit Agreement;
Oil and Gas Asset Acquisition Financing
Advised an indigenous commercial bank in relation to a USD$ 200 Million financing to be provided in conjunction with an international financial institution for the acquisition of oil and gas assets;
Broadband Company Refinance Facility
Advised on the USD100million Refinance Facility to an indigenous broadband company to refinance and restructure its existing debt obligations of circa USD80million and fund the construction of a data center;
Diversified Business Group Debt Refinancing
Advised on US$ 60m debt refinancing of a diversified business group with interests in pharmaceutical, energy, industrial plastic packaging, importation and distribution of consumer goods as well as the agricultural sectors;
ECA-Backed Real Estate Development Financing
Advised on US$107 million ECA-backed financing for the construction and development of the first phase of a mixed use real estate development.
Insights & Updates
Certificate of Capital Importation for Capital Goods and Equipment Imports into Nigeria: Key Considerations for Foreign Investors
Foreign investors entering the Nigerian market are often focused on company registration, tax compliance, and import approvals. However, one critical aspect that is frequently overlooked is the requirement to obtain a Certificate of Capital Importation (CCI) for the importation of capital equipment.
The FIRS-DGFIP Memorandum of Understanding: Key Legal Considerations for NRS
The NRS is subject to strict confidentiality and secrecy obligations under Sections 142 and 143 of the Nigeria Tax Administration Act (NTAA), 2025. The general rule mandates the confidentiality and secrecy of all taxpayer information. Under Section 143, taxpayer information may only be shared in the following limited circumstances
Doing Business in Lagos, Nigeria: A Strategic Legal Guide for Investors Entering Africa’s Fastest-Growing Market
With a population exceeding 18 million people, Lagos is a megacity that generates roughly 20% of Nigeria’s GDP, making it one of the most important sub-national economies on the continent. In November 2025, the Lagos State Government announced a proposed budget of ₦4.237 trillion, the largest by any sub-national government in Nigeria, signalling a bold, infrastructure-led development agenda
Social Media Platforms in Nigeria - Navigating Competition Enforcement Risk
Without clear guidance on digital markets from the FCCPC, digital markets are at risk of being mischaracterized by regulators. For example, a platform’s decision not to roll out a service in a particular region driven by strategic, technical, or economic considerations could be misconstrued as anti-competitive exclusion.
Neobanks in Nigeria: Key Considerations for Market Entry - Part I
Neobanks are digital-first financial platforms offering a variety of services, ranging from multi-currency accounts and payments to cards and investing solutions. Neobanks are undoubtedly reshaping global banking and for global Neobanks considering expansion into Africa, Nigeria presents a particularly compelling opportunity
Neobanks in Nigeria: Key Considerations for Market Entry - Part II
In Part 2 of our Neobanking Series, we will focus on some of the key legal and regulatory considerations governing market entry, licensing, and operational compliance
Could Centralizing the Management of Nigeria's Sectoral Funds Unlock Greater Impact?
A centralized management framework, coordinated through a financially disciplined entity such as the Nigerian Sovereign Investment Authority or the Federal Inland Revenue Service, could enhance the effectiveness of sector fund allocation, allow for co-ordinated allocation across sectors, while preserving sector-specific oversight.
SEC Issues Interpretive Guidance on Amended Private Equity Fund Rules
The SEC’s interpretive guidance and amendments aim to streamline compliance for smaller private equity funds, and enhance transparency on fees and governance. Fund managers and sponsors should review their internal policies to ensure consistency with the updated requirements, particularly regarding the ₦5 billion registration threshold, proprietary investment obligations, and fee disclosures.
Minimum KYC Requirements for Opening Bank Accounts for Nigerian Entities Offshore
Notwithstanding the removal of Nigeria from the FATF Grey List, foreign banks are still required to conduct full KYC and AML/CFT checks for Nigerian clients, as these obligations remain mandatory under global banking regulations. This article provides some local intel for foreign banks on the minimum requirements for safely and efficiently onboarding Nigerian clients while maintaining compliance with international AML/CFT standards.
New Capital Gains Tax Rules for Nigerian M&A Transactions
While gains on the disposal of shares in Nigerian companies are generally chargeable, the Nigeria Tax Act introduces important exemptions designed to encourage investment and capital market activity.
Should In-Person or Banking Hall Verification Still Be Mandatory for Bank Accounts in Nigeria?
Nigeria now operates the Bank Verification Number (BVN) and the National Identification Number (NIN), national digital identity databases containing biometric and demographic data. With these systems, banks can reliably authenticate customers remotely, making mandatory physical presence largely redundant. It is useful to note that the CBN has now extended the requirement for all account holders ( including Tier-1 accounts) to link their accounts to BVN and/or NIN.
Taxation of Non-Residents in Nigeria
The Nigeria Tax Act 2025 has clarified and expanded the legal basis for the taxation of non-residents in Nigeria. Under the Act, non-resident persons can now be taxed under four broad categories: Capital Gains, Profits, Consumption of Imported Services, and Premiums/Nigerian Source Income. We discuss these broad categories below.