ǼLEX law firm is one of the largest most diversified law practices in West Africa.
It providescorporate and commercial legal services that include, transactional, regulatory and policy matters. Litigation and dispute resolution services in the corporate and commercial space are also offered.
Clients are predominantly multinational companies. They include banks and multilateral lenders, oil and gas companies, oil service companies, telecommunication companies, insurance companies, trading and manufacturing conglomerates, project owners, EPC contractors, airlines and shipping companies. It also advises foreign embassies, multilateral agencies and chambers of commerce.
Its lawyers are admitted to practice in several jurisdictions including Nigeria, New York, Texas, Ghana, England and Wales. Its lawyers are also qualified in political science, economics and engineering disciplines and posses skills and experience from their involvement in major transactions and projects.
Regular interaction with industry operators means advice is offered in anticipation of, and consistent with, changes in policy and regulation.
Global Rankings and Accolades
ǼLEX has frequently achieved top tier rankings by international directory platforms including: Legal 500, Chambers Global Guide, IFLR 1000's Guide to World’s Leading Law Firms and the Who’s Who Legal Nigeria Firm of the Year (this was achieved a record five consecutive times).
ǼLEX is proud to announce that our Damilola Ogedengbe has been appointed as an officer of the Securities Law Committee of the International Bar Association for the 2020/2021 term.
Damilola is a member of the firm’s Corporate/Commercial practice group with experience in Mergers & Acquisitions, Capital Markets, Private Equity, Company Secretarial and Financial Services.
The Committee consists of experienced securities lawyers selected from around the world and provides a forum to discuss and shape public policy in a world of rapidly globalising capital markets. It reviews developments in underwriting and distribution of all types of capital markets products, the securities laws as they impact cross-border mergers & acquisitions, the regulation of market players such as investment banks, brokers and exchanges, securities laws as they impact public companies, and keeps a close watch on cross-border and international regulatory developments.
We wish her all the best in this new position and are confident that she will add value to the Committee.
***Central Bank of Nigeria's regulatory measures to improve lending to the real sector
Borrowing money to invest in real estate in Nigeria has become increasingly difficult with risk-averse banks reluctant to lend. A circular by the Central Bank of Nigeria (CBN) has tried to force the issue so as to stimulate growth in this sector. But, writes ǼLEX associates Tolulope Ogidi and Rachael Ehima, maybe the CBN has been a little over zealous and there could have been a more consultative route to achieving its ends.
New guidelines for foreign-to-foreign company mergers taking place in Nigeria have been issued. The good news is the process has been simplified. These guidelines were issued by Nigeria’s Federal Competition and Consumer Protection Commission.
***An Appraisal of The Extant Legal Framework for Mergers and Acquisitions in Nigeria
Navigating the laws and regulations around mergers and acquisitions in Nigeria can, for the uninformed, feel like wandering into a maze, especially with recent changes to the law. ǼLEX associate Damilola Ogedengbe highlights what is important for different sectors and explainsthe overriding role of the Federal Competition and Consumer Protection Commission.
***Central Bank of Nigeria Unveils Guidelines on Disclosure and Transparency for Banks and other Financial Institutions
New guidelines on disclosure and transparency for banks have been issued in Nigeria. ǼLEX associate Kofoworola Oyegunle reflects on why these are necessary and concludes that the transparency of financial institutions is fundamental to the growth of any economy.
***Intellectual property considerations in mergers and acquisitions
Thorough examination of Intellectual Property Rights in a merger or acquisition will ensure no nasty surprises following the completion of a deal. Here ǼLEX partner Davidson Oturu and Associate Frances Obiago advise parties in a deal to seek the right legal help at every step of the transaction.
With data protection laws falling into place globally so too is Nigeria working on ensuring compliance. ǼLEX associates Kanyinsola Ojeshina and Florence Bola-Balogun explain the intricacies of the draft implementation framework informing individuals and corporations of compliance requirements. Read more here
MTN in Nigeria has 60.3million subscribers many of them unbanked. Now this powerful telco has been granted a “super licence” enabling it to offer financial services. ǼLEX associate Kanyinsola Ojeshina considers what this means for grassroots communities and traditional banks.
***Dr Adesegun Akin-Olugbade becomes first African world trade board member
Dr Adesegun A Akin-Olugbade, International Counsel at ǼLEX, has been appointed as a member of the World Trade Board joining 20 global trade and finance leaders and becoming the first from Africa.
The World Trade Board, initiated by Finastra, comprises global leaders, innovative thinkers, industry influencers and experts in trade, finance and commerce.
Dr Akin-Olugbade is an international legal and finance expert, combining academic qualification and professional distinction with legal skill, extensive transactional experience and corporate governance expertise.
He said, “The appointment of the first African to The World Trade Board comes at a most auspicious time, with the formal launch of the operational phase of the Africa Continental Free Trade Agreement (AfCFTA), which has established a continental free trade area for Africa’s 1.2 billion people, with a combined GDP of US$2.3 trillion.”
Before joining ǼLEX he was with the African Development Bank (AfDB) Group, the Africa Finance Corporation and the African Export-Import Bank in Egypt.
Simon Paris, Chair of the World Trade Board and Chief Executive at Finastra said, “With protectionism looming large around the world, and ever-increasing regulation throwing up new challenges, global trade is in a state of flux. In this unchartered environment, the Board’s common vision of collaborative, connected, inclusive trade – enabled by the latest business technologies – has never been more important. We welcome Dr Akin-Olugbade to our cohort as we continue to strive towards driving open trade for the benefit of all.”
***The deferment of the new free float rules by the Nigerian stock exchange: What Nigerian investors should know
The Nigerian Stock Exchange has deferred the introduction of its Free Float rules but, warns ǼLEX associate Kofoworola Oyegunle, it would be wise for investors to understand the regulations and ensure they comply.
***Cybercrime and Cybersecurity: FinTech’s Greatest Challenges
There are two types of companies: those that have been hacked and those that will be, former FBI director Robert Mueller said. ǼLEX associate Ademola Adeyoju describes the landscape where cybercrime thrives and advises businesses what they can do to protect themselves.
Mrs Adekoya, SAN speaking at the session on “Partnerships that Struck Gold” during the 2019 Women in Management, Business and Public Service (@WIMBIZNG) Annual Conference held on the 7th and 8th of November 2019
***E-Registration process for migrants in Nigeria
Unchecked immigration has prompted the Nigerian authorities to develop an e-registration system for incomers staying longer than 90 days. ǼLEX associate, Rebecca Ebokpo, looks at the legal value of this move in the context of immigration.
***The Nigerian Stock Exchange Amends Rules on Trading Online
Protecting the interests of online traders and clients appear to have motivated the Nigerian Stock Exchange to amend the rules for online trading. In this article ǼLEX associate Kofoworola Oyegunle concludes that the move supports a secure trading environment.
***Insight- Funding the activities of the Nigerian police force
A new Act, set up to create a trust fund for Nigeria’s police force, has imposed a fresh levy of 0.005% on the net profit of companies operating in the country. ǼLEX associate, Oyeyosola Diya, considers how the private sector will respond. They are likely to resist, saying this should be the role of government, she says. Also, will spending and collection be transparent and open to public scrutiny?
It seems common sense that fines and penalties would not be tax deductible. Nevertheless there are high-stake battles being fought between the Nigerian taxman and major corporations on the issue. ǼLEX associate Temiloluwa Oladele examines the legal technicalities. Read more here
ǼLEX is delighted to announce that Funke Adekoya, SAN, was crowned winner of the Partner of the Year Award at the African Legal Awards 2019.
The African Legal Awards recognises exceptional achievement in Africa’s legal services industry.
The scoring criteria include the contestant’s track record of exemplary leadership, strong legal skills, resourcefulness which has led to successes, upright client management practices, and measurable contributions to the wider community.
Funke in over 40 years' of practice has received considerable recognition and numerous awards for excellence in the commercial litigation and corporate dispute resolution areas. She leads a team at ǼLEX that represents businesses in various sectors.
The awards ceremony took place in Johannesburg on Friday 6 September 2019.
***The review of the framework and guidelines for the use of social media platforms by public institutions
Nigeria’s National Information Technology Development Agency has issued guidelines on the use of social media by public institutions. This is to prevent institutional harm. ǼLEX associate Tobiloba Oluleye welcomes the regulations and warns non-compliance could lead to sanction.
ǼLEX associate Onyinyechi Iwuoha seconded to Latham & Watkins (London) under the ILFA flagship secondment programme (IFSP)
We are delighted to announce that Onyinyechi Iwuoha, an Associate in ǼLEX’s Banking and Finance Practice Group, has been selected for the ILFA Flagship Secondment Programme (IFSP). Under the IFSP she will be seconded to Latham & Watkins (London) from September to December 2019.
Onyinyechi, an outstanding Associate, has been ranked as a Rising Star by IFLR 1000, the guide to the world’s leading financial and corporate law firms. Mrs Iwuoha frequently advises Nigerian and international clients on complex loan transactions and supervises other associates in ǼLEX’s Banking and Finance Practice Group.
The IFSP is an annual international secondment programme where lawyers practising in Africa are selected for a three month secondments to highly reputed law firms and corporations in London, Paris, Lisbon or Dubai.
***ǼLEX recognised as Nigerian ‘Law Firm of the Year’ by Who’s Who Legal(WWL) 2019
We are delighted to announce that ǼLEX has, once again, been recognised as Nigeria’s ‘Law Firm of the Year’ by Who’s Who Legal (WWL).
The firm was recognised at the WWL’s sixth annual ceremony held on May 16, 2019 at the Gibson Hall in London.
This is the sixth time the firm has won this award - recognition for its exceptional quality of work over the past year.
Partner, Davidson Oturu, received the award on behalf of the firm.
Partner ‘Soji Awogbade, who heads the firm’s Energy Practice, was recognised as one of the Thought Leaders Global Elite for Energy law from Nigeria.
ǼLEX Managing Partner, Theophilus Emuwa, said it was an honour to be recognised again by Who’s Who Legal as the top law firm from in Nigeria.
“We understand that this recognition speaks to the quality of legal services we deliver,” he said.