Banwo & Ighodalo
(The following information was supplied by the firm)
Firm Overview:
Banwo & Ighodalo (“B&I”) is renowned for adopting a multi-disciplinary and integrated approach in providing legal services to clients. B&I establishes close and efficient working relationships with clients and develops teams of solution providers with the requisite technical skills and experience. We pride ourselves on our ability to work with clients in a cost-efficient manner to meet their requirements while providing high quality, innovative solutions within client-driven deadlines and timeframes.
We have a track record of working collaboratively with regulatory and administrative agencies, international law firms and technical subject matter experts to formulate and implement coherent strategies for our clients’ benefit.
Partners: Femi Olubanwo, Asue Ighodalo, Kenneth Etim (Managing Partner), Abimbola Akeredolu SAN, Ayotunde Owoigbe, Stella Duru, Kehinde Ojuawo, Olumide Osundolire, Toyin Bashir, Azeezah Muse-Sadiq, Isa Alade, Seyi Bella, Akindeji Oyebode, Chinedum Umeche, Ayodele Adeyemi-Faboya
Number of fee earners: 80+
Languages: English, French, several Nigerian languages
Practice Areas:
■ Corporate, Securities & Finance
■ Energy & Natural Resources
■ Litigation, Arbitration & Alternative Dispute Resolution
■ Intellectual Property & Technology
■ Shipping, Aviation & International Trade
Main Areas of Practice:
B&I has five main practice groups, namely, corporate, securities and finance, energy and natural resources, litigation, arbitration and alternative dispute resolution; intellectual property and technology; as well as shipping, aviation and international trade.
B&I’s corporate, securities and finance practice group continues to be a leading practice in Nigeria, advising on transactions. The firm remains the leading capital markets law firm in Nigeria and was also involved in virtually all of the international capital market transactions by Nigerian corporates in the last year. The firm also has a vibrant corporate finance team which, over the years has advised clients on some of the largest M&A and banking transactions in Nigeria. B&I very recently advised Access Bank Plc on its landmark merger with Diamond Bank in a deal that would create the largest retail bank in Africa by customer base and a very significant player in the Nigerian market. Outside the banking and finance sector, the firm’s M&A experience also covers the manufacturing, telecommunications, oil and gas, power, healthcare, food and beverages, and education sectors. B&I advised on the sale of Ascon Oil Limited to Quest Oil and Engineering Services Limited in a deal worth US$40,000,000. It also advised Dangote Flour Mills Limited and Dangote Industries Limited in respect of the acquisition of the entire shareholding of Dangote Flour Mills Plc by Olam International Limited through its subsidiary, Crown Flour Mills; and also advised in connection with the recapitalisation of two of the largest players in the Nigerian insurance sector.
Recently, B&I acted as Nigerian Lenders’ Counsel to Interswitch Holdings Limited in connection with the acquisition of a 19.9% equity stake in Interswitch Holdings Limited by Visa International Service Association in a deal valued at USD199, 000,000. B&I also advised in relation to the establishment of the Africa Infra Plus Fund II – a N200, 000,000,000 close ended equity infrastructure fund structured to provide an investment platform for Nigerian and international investors to invest in infrastructure assets in Nigeria and other sub-Saharan Africa countries.
Banwo & Ighodalo’s project & energy team comprises of highly skilled and experienced lawyers with vast knowledge in transactions related to project development and the energy sector. The team has advised on numerous transactions in the project and energy space which spans across acquisition and construction of oil and gas facilities, acquisition and disposal of petroleum assets; crude/gas supply arrangements; gas monetisation and utilisation projects as well as acquisition, construction, financing and lease of real property in Nigeria.
The intellectual property and technology practice group (IPTPG) is known for delivering excellent quality work within a short turnaround time. B&I’s expertise includes protection of client’s copyright, trademarks, patents and designs; product registration and regulatory compliance, anti-counterfeiting and anti-piracy; information technology law, data protection and privacy law, advertising law, media law and entertainment law. In addition to having excellent, in-depth understanding of intellectual property law, B&I also appreciates the fine details of IP in practice, as applicable to its client’s respective industries. This enables it to provide advice to its clients that is legally sound, practical and commercially expedient.
The firm’s litigation, arbitration and ADR practice group is comprised of excellent and internationally acclaimed barristers (some dual-qualified), arbitrators, negotiators, accredited mediators and certified ADR trainers who ensure that disputes arising from the business and commercial activities of clients are effectively resolved with minimum expenditure of time and resources.
B&I’s multi-disciplinary shipping, aviation and international trade team has represented a wide spectrum of the leading local and foreign industry players in the transport sector, which include local and multinational shipping companies, ship owners, ship managers, charterers, cargo owners, P&I clubs, shipping agents and brokers, bunker suppliers, air- lines, government parastatals, regulatory agencies, financial institutions, foreign law firms and international consultancy firms on various transactions.
Key Contacts
Firm Rankings
Banking & Finance
Band 1
Capital Markets: Debt
Band 1
Capital markets: Equity
Band 1
Corporate/M&A
Band 1
Dispute Resolution
Band 3
7.0
FinTech
Band 2
8.0
IP
Band 2
8.0
IP: Patents
Band 3
7.0
IP: Trademarks
Band 3
7.5
Projects
Band 1
Lawyer Rankings
Articles
Revived policy, implementation challenges, and legal fireworks The Naira redesign policy of the Central Bank of Nigeria (“CBN”), aimed at driving the objectives of the country’s ongoing migration from a cash-dominated economic environment to an electronic payments market, otherwise known as cashless economy, has passed through different stages of implementation since it was recently reintroduced via […]
On May 22 and 23, 2023, the Central Bank of Nigeria (CBN) revoked the licences of one hundred and seventy-nine (179) Microfinance Banks, three (3) Finance Companies and four (4) Primary Mortgage Banks. We have reviewed the circumstances surrounding this revocation of licences, the reasons given by the CBN, the options available to the affected […]
In the twilight of his administration on May 28, 2023, Nigeria’s immediate past President, Muhammadu Buhari, signed the Finance Act 2023 (the “Act”) into law. The Act takes retrospective effect from May 1, 2023, or such other date as may be indicated by an Act of the National Assembly, or an order or assent made […]
On June 12, 2023, President Bola Ahmed Tinubu signed the Nigeria Data Protection Act, 2023 into law (“Data Protection Act” or “the Act”). This marked a significant watershed in the country’s journey towards developing a primary legislative framework for the protection of personal information of natural persons residing or doing business in Nigeria. Prior to […]
On February 14, 2023, the Business Facilitation Act (“BFA”) was passed into law in Nigeria. The stated objective of the Act is to promote the ease of doing business in Nigeria, eliminate bottlenecks, amend relevant legislation, and institutionalise all reforms to ease implementation. The Act amends existing legislations, including the Trade Marks Act Cap. T13, […]
In what appears to have taken international shipping companies by surprise, the Federal Inland Revenue Service (“FIRS”) recently issued tax assessment notices to international petroleum tankers and transport vessels operators, regarding the recovery of income tax allegedly owed over the period from 2010 to 2019 (the “Tax Assessments”). These Tax Assessments indicate a computation of […]
Revived policy, implementation challenges, and legal fireworks The Naira redesign policy of the Central Bank of Nigeria (“CBN”), aimed at driving the objectives of the country’s ongoing migration from a cash-dominated economic environment to an electronic payments market, otherwise known as cashless economy, has passed through different stages of implementation since it was recently reintroduced via […]
On March 17, 2023, an Act to alter certain provisions of the 1999 Constitution of the Federal Republic of Nigeria (the “1999 Constitution”), to allow constituent states within the Nigerian federation (the “States”) to generate, transmit, and distribute electricity in areas covered by the national grid and for related matters (the “NESI Constitutional Amendment”) came […]
GUIDANCE NOTE FOR RSA HOLDERS, MORTGAGE LENDERS AND PENSION OPERATORS The move to allow retirement savings account (“RSA”) holders, to finance residential mortgage with part of their pension funds, has its origin in the Pension Reform Act of 2014 (the “Act”). Under section 89(2) of the Act, a Pension Fund Administrator (“PFA”) is allowed to […]
The increasing use of corporate vehicles, such as companies, trusts, foundations and other types of corporate/legal arrangements, has elevated concerns among financial regulators globally. The concerns are not unconnected with the growing risks of possible concealment and conversion of illicit funds by criminals while hiding under the legal protection afforded by the veil of incorporation. […]
Following feedback received from stakeholders on its Circular of December 6, 2022 (“earlier Circular”), the Central Bank of Nigeria (“CBN”), via a new Circular titled: “Re: Naira Redesigned Policy – Revised Cash Withdrawal Limits” and dated December 21, 2022, with reference number: BSD/DIR/PUB/LAB/015/073 (“updated Circular”), announced a review of its earlier regulatory directives to commercial […]
Press Releases
On June 12, 2023, President Bola Ahmed Tinubu signed the Nigeria Data Protection Act, 2023 into law. This marked a significant watershed in the country’s journey towards developing a primary legislative framework for the protection of personal information of natural persons residing or doing business in Nigeria. The Act provides, among […]
On Monday, May 22, 2023, business leaders, captains of industries, members of the Organized Private Sector, and political leaders across Africa, gathered in Lagos, Nigeria’s commercial capital, for the commissioning of the Dangote Petroleum Refinery, the newest member company of the Dangote Group. Located at the Lekki Free Zone and billed as Africa’s biggest oil […]
In its characteristic excellence, Banwo & Ighodalo, has for the fourth year running, emerged as the only Nigerian law firm with Tier-1 ranking across all ranked practice areas in the recently released Legal 500 Europe, Middle East and Africa (EMEA) Guide 2023. Yearly, the prestigious Guide highlights the practice areas of Law Firms, who are […]
In yet another recognition of its excellent legal advisory services and outstanding record of participation in cutting edge deals in the African regional market, Banwo & Ighodalo has been awarded among the top advisers in General Corporate Finance and Mergers & Acquisition categories, at 2023 edition of the DealMakers AFRICA Annual Awards. These latest additions […]