ESQ Legal Practice Magazine Award 2021 Edition

NIGERIAN LEGAL AWARDS 2021: WHO WON WHAT & WHY BOLD STEPS: OLANIWUN AJAYI OPENS LONDON OFFICE

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THE LANDMARK VAT DECISION A REVIEW OF THE PROS &

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temitayo

Samuel Temitayo is the Director of Operations at ESQ Trainings Limited who has garnered experience in building management teams and se ing a high standard of excellence in the quality of operations and service with apply strong analytical and critical thinking skills to make sound decisions and solve problems to drive long -term performance.

Tayo is also the Chief Financial Officer and the brain behind some of the company's latest investment.

She also holds the position of a community manager.

Temitayo is the brain behind some of the company's latest investment. She adds value by assisting lawyers with good ideas on how to translate legal expertise to profitability.

lilian

Allosse Lilian Allosse is the Creative Director at ESQ Training Limited. She loves to bring ideas to life, and is driven by the need to be a major gamechanger globally. She has garnered experience in brand and digital experiences especially print, electronic and digital media.

She has expertise in Branding Design and Strategy, Corporate and Personal Branding, Visual Communication, amongst many others. She enjoys Art, Traveling and Fashion.

ifeoluwa

Ajijola Ifeoluwa is a Business Development Executive with over 4 years experience in Business Development, Copy writing and Lifestyle management.

She excels at creative thinking, Brainstorming and generating innovative ideas that tackles problems related to branding and marketing.

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Agu

Chidinma is a seasoned lawyer with the role of research and development at Esq Training Limited.

She finished from Obafemi Awolowo University IleIfe, Osun state. She is currently a member of a continuous legal education NGO affiliated to the United Nations Office on Drugs and Crime (UNODC) called the Legal Advocacy in Response to Drugs and related organized crime in Nigeria (LARDI).

She has also diversified into the real estate sector of the economy and she believes herself to be a seasoned research development personnel.

janet

Nwoke Janet is a seasoned communicator with years of experience in public speaking. Her background in English Language at Obafemi Awolowo University informs her book editing skills. She is multitasking, and this ability makes her fit into opportunities seamlessly. Also, She is the CEO of Royal Impeccable Gallery, the home of beads, auto gele, make up, and dress making.

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lere.fashola@esq-law.com

THE NIGERIAN LEGAL AWARDS 2021

Lere Fashola

WHAT'S ALL THE BUZZ ABOUT? The Nigerian Legal Awards over the years has become a highly coveted recognition by many companies and Law Firms in Nigeria and across Africa. The 11th edition which held on the 7th of November 2021 at the Landmark event centre, Oniru Lagos State was a fun feats.

T

he climax of this event often comes with high optimism and anxiety which drive firms, organizations, and nominees to lookout for the winners of the different categories of the event. Over 300 entries were submitted and over 100 legal personalities, law firms and corporate organisations made the list of finalists for this year's edition.

The ESQ Nigerian Legal Awards seek to celebrate and recognize the role and importance of lawyers, legal departments in companies, and legal professionals to businesses and economies across Africa.

also the recent effects of the COVID-19 pandemic.

In all obvious facts, the economy of Nigeria, and indeed Africa, calls for a more serious attention and collaborative efforts, especially as Nigeria's economy is just coming out recession which it entered in 2020 due to fall in crude oil prices on account of falling global demand and containment measures to fight the spread of COVID–19.

Even as Nigeria emerges out of recession, the economic outlook remains highly uncertain. The modest projected recovery can be threatened by volatility in the oil sector, including an Over the past 24 months, the unexpected shock to oil economic landscape in Africa prices, and weaknesses in the and especially Nigeria has financial sector. been affected negatively by a number of factors such as As part of the immediate decline in GDP due to global consequences of the fall in oil prices, rising recession, especially the fall inflation, increasing in the global oil price, unemployment rates, and companies and organizations www.esq-law.com

had to engage in mergers and acquisitions and deploy innovative leadership, thereby forcing them to explore new areas and create opportunities which hitherto are non-existent.

All over the world, there are similar respectable ceremonies that grant prizes but this offer another flavour as it is specifically for Nigerian lawyers and because most Nigerian firms are playing at home, in front Legal expertise and of their audience, their clients intervention have been at the and their colleagues, the fore-front of the execution of acknowledgement is even these deals and transactions greater. which have proven to be critical to the survival of As we stick very closely to these companies and the new trends in the market, organizations which in turn we are able to see before will contribute to the anyone else and spot the new projected economic “kids on the block”, see how improvements in the the “old guys” are doing in country. their traditional areas of practice or in new areas in At this year's edition of the which they are developing ESQ Nigerian Legal Awards; and see what innovations the a host of lawyers, law firms new players are bringing to and in-house general the game as well as the counsels who have been influence of the international pivotal to the success of the players in the market. prevailing deals and transactions will be recognized and celebrated for their role and important contributions to businesses in Nigeria.

Esq Legal Practice | 11

THE LANDMARK VAT DECISION A REVIEW OF THE PROS &

CONS OF THIS LANDMARK ATTORNEY GENERAL OF RIVERS STATE VS. FEDERAL INLAND REVENUE SERVICE

Recently, in the case of Attorney General of Rivers State vs. Federal Inland Revenue Service & Attorney General of the Federation1, the Federal High Court 2 (“FHC”) sitting in Port Harcourt rendered a ground- breaking decision currently agitating the minds of everyone in the country. The decision appears to have revived the lingering debate over fiscal federalism in Nigeria and the unsettled issues of taxing powers of the centre (Federal Government) and the component States within the Federation.

E

qually, the decision impliedly questions the nature of federalism or rather unitarism that Nigeria practices. Other relevant underbellies of the decision, which our brief analysis considered, are: (1) whether in the light of current judicial pronouncements on

the powers of the National Assembly to exclusively legislate on matters contained in Chapter II of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) such have overtaken or rendered useless the “residual powers” traditionally preserved for component

States in a true federal arrangement.

for a better federal experience in Nigeria.

In the main, the Pros and Cons of the decision are reviewed to demonstrate the strengths and weaknesses of the FHC's decision; and to point to the direction(s) on how the extant legal impasse could be resolved

OVERVIEW OF FHC'S DECISION Prior to the extant decision of the FHC, there was no contentious suit wherein a court in Nigeria barred the Federal Government or any

1. Suit No: FHC/PH/CS/149/2020 2. Presided by Hon. Justice Stephen Dalyop pam

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FHC sitting in Port Harcourt became the first court in Nigeria to hold otherwise.

Several legal issues relating to the taxing powers of the Federal Government and Rivers State were canvassed and thoroughly argued by the parties. In resolving the issues placed before it, the Court held, among other things, that:

of its agencies – the Federal Inland Revenue Service (“FIRS”) in particular– from collecting Value Added Tax “VAT” in the Country; or directed that a State Government has the exclusive power under the Constitution to collect VAT to the exclusion of the Federal Government. The

1. It had searched the entire Constitution to find out if the Federal Government is empowered to impose and collect taxes outside the provisions of items 58 and 59 of the Exclusive Legislative List without success.

Therefore, the Federal Government's power to impose and collect taxes is limited and/or circumscribed to the specie of taxes listed in items 58 and 59 of the Exclusive Legislative List and no other. In particular, the court held that the Federal Government does not have the power to legislate on VAT,

Education Tax and Technology Tax since they are outside its taxing powers3 2. Save corporate income tax, item 7(a)&(b) of the Concurrent Legislative List limits the power of the National Assembly to delegate the power to collect taxes listed in Items 58 and 59 of the Exclusive Legislative List to only State Governments or their agencies thereof.

Therefore, any delegation to any other person or entity apart from a State Government or its agency shall be null and void. The implication of this decision is that the National Assembly cannot make law empowering the Federal Government or any of its agents – such as the FIRS – to collect any of the taxes (except companies income tax) listed in items 58 and 59 of the exclusive list.

The above ratios are the main causes of controversy in Nigeria's tax discourse today. The Federal

Government and/or FIRS has already appealed against the decision of the FHC.

THE PROS OF THE DECISION Traditionally, federalism is a political device more suited in a heterogenous society for the sharing of powers amongst two – or perhaps more – units of governments with the expectation that each level of government will restrict itself to the legal boundaries drawn for it by the Constitution – considered to be the governing supreme document of the political state. Without delving into the history of the current constitution, it is assumed to be an Act of the people.

Many have disputed this because at no time were Nigerians engaged by the departing Military Government of Rtd. General Abdulsalami Abubakar to participate, democratically, in the making of the 1999 Constitution. Therefore, those who oppose the Constitution argue that it is not an Act of the people or an autochthonous living document. Rather, it is seen

1. Suit No: FHC/PH/CS/149/2020 2. Presided by Hon. Justice Stephen Dalyop pam

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Esq Legal Practice | 13

as a military decree imposed on the people. Regardless, the 1999 Constitution remains the supreme law of the land; and by virtue of section 315 of the Constitution, existing military decrees and edicts or any other law in force before the extant Constitution came into force are preserved. Such existing laws must comply with the conditions stipulated in section 315 and should not violate any provision of the Constitution before it could be accommodated as part of our laws. Indeed, all tax statutes that were in force prior to the coming into force of the present Constitution are deemed to continue to be in operation.

Fortunately, the courts have started questioning the propriety or otherwise of some of the existing laws.

Last year, the Court of Appeal in Uyo Local Government Council vs.

Akwa Ibom State Government & Anor.4 annulled the Taxes and Levies (Approved List for Collection) Act for being inconsistent with the Constitution.² It is not surprising that Rivers State Government has challenged the authority of the Federal Government, through FIRS, to collect VAT in the State.

However, where a subject matter is neither listed in the Exclusive Legislative List nor the Concurrent Legislative List; and also, not assigned to any of the legislative bodies (i.e., either the National Assembly or State Houses of Assembly) by any part of the Constitution, such subject matter is considered to be a residual matter under section 4(7)(a) & (b) of the 8 Constitution Many hail the decision for asserting the principle of fiscal federalism that is currently lacking in Nigeria.

The supporters of this decision are against the extant practice where most available resources in the country are in the hands of the Federal Government; while States go cap in hand to Abuja on monthly basis for allocations. This practice has rendered most of the States in Nigeria financially dependent on the Federal Government. Rivers State in this case has challenged the authority of the Federal Government to dominate the country's tax regime – especially the collection of VAT. The decision of this court appears to have strongly asserted the powers of State Governments to collect taxes. Both Rivers and Lagos State Governments have enacted their State VAT Laws respectively. Many see this decision, if sustained by

the appellate courts, as a victory for fiscal federalism that is currently lacking in the country.

The Cons of the decision are taken together with the analysis below.

ANALYSIS OF THE DECISION AND THE POSITION OF THE LAW The resolution of the present legal impasse revolves round the taxing powers of the Federal Government of Nigeria and a State Government under the extant Constitution. Thus, it is not in doubt that the Federal Government (through the National Assembly) has the exclusive power to legislate on matters listed in the Exclusive Legislative List contained in Part 1 of the Second Schedule to the Constitution.6 A State Government's House of Assembly is forbidden from legislating on matters contained in the Exclusive

Legislative List. In addition, both the National Assembly and State Houses of Assembly in Nigeria are empowered to legislate on matters listed in the Concurrent Legislative List contained in Part II of the Second Schedule to the Constitution.7 Several judicial authorities have held that if in the exercise of their legislative powers, a law made by the National Assembly conflicts with the one made by a State House of Assembly, the law made by the National Assembly will be deemed to have covered the field and leaves nothing for the State.

However, where a subject matter is neither listed in the Exclusive Legislative List nor the Concurrent Legislative List; and also not assigned to any of the legislative bodies (i.e, either the National Assembly or State Houses of Assembly) by any part of the Constitution, such subject matter is considered to be a

3.

Unfortunately, the court added 'Withholding Tax' as a form of taxation that the Federal Government cannot collect.

4.

(2020) LPELR-49691 (CA) The court relied on the ouster clause contained in section 1 of the Decree to nullify the entire statute for being inconsistent with the provisions of the 1999Constitution (as amended) Section 4(3) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) (“Constitution”).

Sections 4(4)(a) and 4(7)(b) of the Constitution.

Attorney General of Abia State vs Attorney General of the Federation (2006) 16 NWLR (Pt 1005) 265, 38

5.

6.

7.

8.

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residual matter under section 4(7)(a)&(b) of the Constitution.8 Residual Matters, according to our courts, fall within the exclusive province of a State Government to legislate on.9 Thus, the Federal Government, through the National Assembly, are constitutionally prevented from legislating on residual matters.10 Though the FHC did not discuss the exclusive power of State Houses of Assembly to legislate on residual matters, it focused its attention on interpreting the taxing powers contained in items 58 and 59 of the Exclusive List; and item 7 of the Concurrent List.

9. Ibid 10.

11.

As indicated above, the court held that VAT, Education Tax and Technology Tax are not listed species of taxes contained in items 58 and 59 of the Exclusive Legislative List.

Therefore, it is unconstitutional for the Federal Government (through the National Assembly) to make laws imposing or directing the collection of taxes outside the head of taxes contained in items 58 (Stamp duties) and 59 (taxation of incomes, profits and capital gains).

The court claimed to have searched the Constitution without seeing any other

provision that the National Assembly could rely on to impose taxes outside items 58 and 59 of the Exclusive List. It further maintained that item 7 (a) & (b) limits the entities or bodies that the National Assembly could confer the collecting powers of taxes contained in items 58 and 58 (save Companies Income Tax) to only a State Government or its agency but no other.

PITFALLS OF THE JUDGMENT: At a glance, the decision of the FHC on this matter appears sound – especially to the advocates of fiscal federalism; but a critical

review of it shows that there are loopholes not properly covered. Some of them are:

Failure to Distinguish IntraState Transactions from Inter-State and/or International Transactions In deciding that the National Assembly has no power to impose or collect VAT in Rivers State or any other State for that matter, the FHC failed to draw a line between intra-State transactions on one hand and inter- State or International transactions on the other. On the taxing powers of a State Government over intraState, inter-State and international transactions,

Ibid at 265, 380.

(1985) 1 NWLR (Pt 3) 395, 405.

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the Supreme Court settled the issue in Attorney General of Ogun State vs.

Aberuagba.11 The apex court held, inter alia, that a State Government was constitutionally empowered to impose sales tax – a consumption tax – only on intra-State transactions. It clearly held that a State could not impose sales tax on interState or international transactions, being matters exclusively reserved for the Federal Government in item 61 of the Exclusive Legislative List (i.e., “trade and commerce clause”) under the 1979 Constitution – now item 62 of the Exclusive Legislative List, Part 1 of the Second Schedule to the 1999 Constitution. The Supreme 12.

13.

Court struck down Ogun State's tax law to the extent that it imposed sales tax on inter-state and international transactions. With this decision, which is still the law, the FHC is wrong to have extended the reach of its decision to inter-State and international transactions – none of which falls within the jurisdiction of a State Government.

The statutory support for the position taken by the apex court is found in item 62 of the Exclusive List (known as trade and commerce clause). Similar judicial interpretation provided by the Supreme Court in Aberuagba's case was earlier reached by the Supreme Court of Canada in

Dominion Stores Ltd. vs.

The Queen¹² and the US' Supreme Court in Wardair Canada vs. Florida Department of Revenue.¹³ Therefore, it appears to be a global practice amongst federal states in the interpretation of a trade and commerce clause and the extent of taxing powers of a State or Province to be restricted within the State's or Province's intra- state transactions; and, therefore, does not extend to interstate or international transactions. This distinction was not drawn by the FHC in prohibiting the Federal Government or the FIRS from collecting VAT in Rivers State.

Failure toRecognise that

Withholding Tax is not a Form of Taxation but a Means of Tax Collection The FHC in this case erroneously treated withholding tax as a form of taxation such that it was considered a separate head of tax different from personal/corporate income taxation and/or other forms of taxation. Of note is that the FHC included Withholding Tax as one of the taxes that the Federal Government is excluded from collecting since it is not listed in any of items 58 and 59 of the Exclusive List. This is a display of poor understanding of Nigeria's tax regime. Withholding Tax is not a form of taxation but a means of tax collection in advance. The purpose of

[1980] 1 SCR 844.

477 US 1 (1986).

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There are certain parts of the Constitution that we consider legal landmines that the appellate courts must be careful in construing to ensure there is no erosion of the residual powers of a State Government. An unrestricted interpretation of these provisions will surely leave nothing for the States except at the mercy of the Federal Government

withholding tax is to ensure that taxpayers' earnings subject to income tax are captured early to limit the occurrence of tax evasion.

Therefore, a purchaser of goods and services subject to withholding tax is authorised to deduct the applicable rate from an invoice of a supplier and then remit the withheld amount to the appropriate tax authority – who in turn will issue a withholding tax credit note through the purchaser for onward transmission to the supplier who in turn will use the credit note to recoup the withheld amount by deducting same from its/his/her income tax liabilities. Having admitted that corporate income tax is not one of the taxes assigned to State Governments to collect, it makes no sense prohibiting Federal Government from collecting

14.

advanced corporate income tax through the mechanics of withholding tax.

Power to Collect the listed Taxes, thereof, to only State Governments or their Agencies

Taxes Listed in items 58 and 59 are not the only Head of Taxes Expressly Listed or Mentioned in the Exclusive List to be within the Exclusive Jurisdiction of the Federal Government to Impose and/or Collect

In interpreting item 7(a)&(b) of the Constitution, the FHC held that the National Assembly in the exercise of its powers under items 58 and 59 of the Exclusive List could only confer the power to collect those taxes on a State Government or its agency. This position is wrong. First, no State Government or its revenue collecting agency is authorised to collect Companies Income Tax. Secondly, the power referred by item 7(a)&(b) is discretionary, which may or may not be exercised. In addition to being discretionary, the provision states that the National Assembly shall prescribe the conditions under which the taxes could be collected.

Also, there is no additional new head of tax mentioned in the concurrent list other than the ones listed in items 58 and 59 of the Exclusive List. The exercise of taxing powers listed in the Exclusive List cannot be controlled by the concurrent list which creates no new head of tax. Indeed, it is not surprising that the Personal Income Tax Act under its section 2 allocates the power to collect personal income tax between the Federal and State Governments. The

The FHC held that: “… the Court has searched other parts of the Constitution to see if there is any provision that allows the Federal Government to impose and collect taxes outside the scope of items 58 and 59 of Part 1 of the Second Schedule and the court can find none”.¹⁴ This finding is wrong. Without considering items 62 (trade and commerce clause) and 68 (incidental and supplementary clause) because of controversies surrounding their interpretations, the FHC failed woefully to recognise items 16 (customs and excise duties) and 25 (export duties) of the Exclusive List.

These are additional taxes that the Federal Government is authorized to exclusively impose and/or collect.

It is Wrong to Hold that the National Assembly is Restricted in the Exercise of its Powers under Items 58 and 59 of the Exclusive List by item 7(a) & (b) of the Concurrent List to Confer the

Federal Government is empowered to collect personal income from the members of the Nigerian Police Force, Army, Navy, Air Force, officers of Nigerian foreign service and non-residents of Nigeriawho derive income from anywhere in Nigeria.

THE SLIPPERY SLOPE There are certain parts of the Constitution that we consider legal landmines that the appellate courts must be careful in construing to ensure there is no erosion of the residual powers of a State Government. An unrestricted interpretation of these provisions will surely leave nothing for the States except at the mercy of the Federal Government.

The provisions are:

Construction of items 62 (trade and commerce clause) and 68 (incidental and supplementary clause) of the Exclusive List Some may argue that the VAT Act had survived as an existing law under section 315 of the Constitution as a federal enactment with a nation-wide application despite there is no specific head of tax in the Exclusive List where VAT or Sales tax is mentioned. The proponents of this argument could rely on items 62 and

See the last Paragraph of page 41 to the commencement of page 42 of the judgment.

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68 of the Exclusive List.

These proponents believe that the National Assembly should be taken to have relied on the trade and commerce clause (item 62) or the incidental and supplementary clause (item 68) to have enacted the VAT Act. On the interpretation of the trade and commerce clause, the decision of the Supreme Court in Aberuagba is clear. It does not support the argument that the VAT Act would apply as a federal statute without limitation in its scope or country-wide application – even if it had survived as an existing law under section 315 of the Constitution. As an Act of the National Assembly with a nation-wide application, the VAT Act could only apply and be restricted to inter-State and international transactions.¹⁵ If it survived the section 315 test as a law of State House of Assembly, it can only apply to the Federal Capital Territory (FCT) as a law of a State deemed to have been enacted by the National Assembly under section 299 of the Constitution, which empowers the national legislative body to exercise the powers of a State House of Assembly on behalf of the FCT.

15.

16.

17.

18.

If the legislature had intended to vest on the Federal Government or National Assembly the power to impose VAT, it would have expressly provided for it – just as it did for stamp duties, income tax, capital gains, customs and excise duties.

The power to impose tax cannot be implied from the construction of another power granted a legislative house Also, the interpretation of the incidental and supplementary powers of the National Assembly cannot be extended to rely on specific head of tax or subject matter created by any of the items in the Exclusive List. If the legislature had intended to vest on the Federal Government or National Assembly the power to impose VAT, it would have expressly provided for it – just as it did for stamp duties, income tax, capital gains, customs and excise duties. The power to impose tax cannot be implied from the construction of another power granted a legislative house. To argue otherwise would suggest that the express provisions of taxing powers in the exclusive list are merely redundant, superfluous and unnecessary since any head of tax not listed in the exclusive list could be covered on the invocation of items 62 and 68 of the Exclusive List. If this line of reasoning is approved by the court, it means there is no kind of tax imaginable that will not be

accommodated under items 62 and 68. Also, the acceptance of this argument would render the principles of residual powers of a State Government and fiscal federalism sterile. We do not think this is the intention of the drafters of the Constitution – for the federal government to usurp all legislative and, perhaps, executive powers of taxation without reserving any for the States.

Construction of item 60(a) of the Exclusive List as a OneSize-Fit-All Clause to Capture all Imaginable Subjects under Chapter II (Fundamental Objectives and Directive Principles of State Policy) It is also possible that some may argue that the National Assembly may justify the VAT Act as an existing law under item 60(a) and section 16 of the Constitution. Item 60(a) confers exclusive jurisdiction on the National Assembly to make laws relating to the: “The establishment and regulation of authorities for the Federation or any part thereof – (a) to promote and enforce the observance of

the Fundamental Objective and Directive Principles contained in this Constitution”. Proponents of this view point could argue that item 60(a) has empowered the Federal Government to regulate, control and manage the country's economy under section 16(1)&(2) of the Constitution for the benefit of the citizenry. They are likely to rely on several cases where the courts have held that only the National Assembly could rely on item 60(a) of the Constitution to bring to life any provision of the Chapter II of the Constitution (i.e, the Fundamental Objective and Directive Principle of State Policy¹⁶) considered to have been exclusively assigned to the National Assembly to legislate on.¹⁷ Normally, this should not be extended to conferring additional powers not expressly provided in the constitution. Taxing powers are expected to be expressly provided so as not to usurp the residual powers of a State Government. Doing otherwise will render the principle of federalism

For detailed analysis on this point, see J.J. Odinkonigbo and N. Ikeyi, “Is the Power of a State to Impose Sales Tax in Nigeria Fettered by the Imposition of Value Added Tax by the Federal Government?” (2015) vol. 41 (4) Commonwealth Law Bulletin 577 – 596.

Chapter II of the Constitution is considered unjusticiable by virtue of section 6(6)(c) of the Constitution. They are seen more as the political, economic and social goals that elected officials should pursue for the benefits of the society. Thus, they are viewed as the yardstick to measure the performance of any government in power.

See Attorney General of Lagos State vs. The Attorney General of the Federation & 35 Ors (2003) 12 NWLR (Pt 833) 1; A.G. Ondo vs. A.G. Federation (2002) 6 SC (Pt.1) 1 or (2002) 9 NWLR (Pt.772) 222; HELIOS TOWERS NIG. LTD v. NESREA & ANOR (2014) LPELR-24624(CA) See the 10th Amendment to the US' Constitution. This provides that powers not assigned to the United States by the Constitution nor prohibited by it to the States are reserved to the States.

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Therefore, it is expected that in compliance with the principle of true federalism, the powers of the Federal Government under any of the clauses mentioned above or in item 60(a) of the Exclusive List should be restricted in their interpretations to avoid the erosion of the residual powers of a State useless. In other federal states, residual powers are jealously guided. For instance, the residual powers in the US are exercised by the States;¹⁸ while in Canada, the Federal Government exercises residual powers¹⁹. The difference between the two countries is that in Canada, provinces have enumerated powers,²⁰ while the Federal Government exercises powers over matters expressly conferred on it and others not assigned by the constitution to either of the levels of government.

But the common thread is that regardless of which level of government that a residual power is conferred, it must be respected without encroachment from the 19.

20.

other.

Nigeria adopted the US' prototype of Federal Constitution in the partition of legislative power, which allocates residual powers to the States. In the US, sales tax or VAT are imposed and collected by State Governments because it does not fall under enumerated federal powers or State powers; and the Federal Government of US has not relied under its trade and commerce clause to wade into the province of sales tax or VAT regime.

Therefore, it is expected that in compliance with the principle of true federalism, the powers of the Federal Government under any of the clauses mentioned above

or in item 60(a) of the Exclusive List should be restricted in their interpretations to avoid the erosion of the residual powers of a State Government – especially as it concerns taxing powers which are expected to be expressly imposed or authorised by the Constitution.

RECOMMENDATIONS: From the above, we can see that the issues relating to what level of government is empowered to collect which tax is controversial. Though the FHC sitting in Port Harcourt has decided on this matter, it will not be the last to be heard about this contentious subject. We

therefore recommend that: 1. Since this matter borders more on the interpretation of the Constitution, the appellate court could borrow a leaf from the decision of the Supreme Court in Aberuagba's case by holding that State Governments have the exclusive power to legislate on VAT matters relating to intra-State transactions; while the Federal Government exercises the exclusive power to legislate on inter- State and international transactions.

2. The implied legislative powers contained in

See section 91 of the British North America Act, 1867.

See section 92 of the British North America Act, 1867.

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items 62, 68 and 60(a) to impose VAT, for whatever reason, should be interpreted to restrict the Federal Government powers to only interState and international transactions. The exercise of the powers in any of the clauses by the Federal Government must not go beyond the boundaries drawn above; otherwise, it will be clear there is nothing federal in the exercise of taxing powers in Nigeria.

3. We do not support the amendment of the Constitution to take away the powers of State Governments to exercise legislative powers over VAT matters in intra-

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Since Nigeria follows the US model of federal constitution, we must respect the residual powers of States without usurping them through judicial interpretations or one-sided constitutional amendments that will turn Nigeria into a full-blown unitary State state transactions. Any amendment of the Constitution in favour of the Federal Government should be restricted to inter- State and international transactions.

CONCLUSION The decision of the FHC in Attorney General of Rivers State vs. Federal Inland Revenue Service & Attorney General of the Federation (supra) has re-awakened the demand for fiscal federalism in Nigeria. It asserts that the legislative powers of the

Federal Government are circumscribed by the Constitution – especially to the extent of express powers conferred on the National Assembly which must not be extended to erode the powers of a State.

Regardless, we examined the loopholes left in the decision and discussed correct position(s) of the law. We have also offered brief recommendations on what the Government could do to resolve the current legal impasse and also retains fiscal federalism within the Nigeria's federal arrangement. The bottom

line is that the drafters of the Constitution intended to reserve residual powers for State Governments. Since Nigeria follows the US model of federal constitution, we must respect the residual powers of States without usurping them through judicial interpretations or one-sided constitutional amendments that will turn Nigeria into a full-blown unitary State.

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MARSFIELD LP

UNPARALLEDED

LEGAL SERVICES ON A GLOBAL SCALE ABOUT US: At Marsfield LP, our strength stems from the formidable team of legal professional with expertise in different areas of law.

We are invested in providing the mist appropriate range of solutions to meet the needs of our clients. For this reason, the firm places the client at the heart of its practice model.

AREAS OF PRACTICE INCLUDES:

Health Law Commercial Law

Corporate Law ADR

Family Law Litigation

CONTACT US

+234 806 470 3847 Suite D14 ,Amsalco Plaza , Dunukofia Street, Area 11 , Garki Abuja, www.esq-law.com

legal@marsfieldlp.com www.marsfieldlp.com Esq Legal Practice | 21

NIGERIAN LEGAL

AWARDS 2021 ...celebra ng the important contribu on of Nigerian Lawyers to Businesses

OUTSTANDING YOUNG LAWYERS MAKING WAVES These young and vibrant legal professionals are behind some of the most complex transactions and deals in different areas of the legal profession such as; Mergers & Acquisitions, Project Financing, Corporate Governance, Joint Venture, Private Equity funds, Tax Advisory, among others.

In this special edition of ESQ Legal Practice Magazine, we are taking a closer look at these individuals who are mostly in their 30s and 40s and some of the major deals. They have been involved with.

OLAITAN ADEDEJI Olaitan Adedeji is a seasoned and experienced legal professional with over 15 years’ worth of experience under her belt.

Currently, she is the General Counsel/Head, Regulatory Compliance and Advisory, PwC.Olaitan started her career as a tax and regulatory advisor with KPMG Professional Services. Along with indirect tax and advisory functions, she also handled payroll services to clients.

Then attended the University of Aberdeen and finished with a Distinction in Oil & Gas Law. Olaitan then joined Masters Energy Oil & Gas Ltd. as the Group Tax Adviser/Legal Counsel

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and then rose to become the General Manager, External Relations, managing the company’s corporate communications, tax advisory and local content matters.

She joined Pan Ocean in 2013 as a Senior Legal Counsel and was appointed Acting Group Head, Legal Services and Nigerian Content Development Departments in October 2017. Role involves managing the general affairs of the Legal and NCD departments including budgeting, government liaison, asset development, project management, transaction structuring as

well as running the Corporate Compliance desk.

Significant experience in contract management, debt restructuring, risk management, corporate and regulatory compliance, taxation and general corporate and commercial law.

Olaitan Adedeji is a Member of the Nigerian Bar Association, an Oil and Gas section member of the International Bar Association, an Associate member of the Chartered Institute of Arbitrators, United Kingdom and a Fellow of the Chartered Institute of Taxation, Nigeria.

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PROFILES FOR OUTSTANDING 40 UNDER 40

KOFO OLOKUN -OLAWOYIN Kofo is a seasoned and experienced legal professional with over 13 years' worth of legal experience under belt. She is a versatile and result oriented individual, with extensive knowledge and experience in Cross-border Financing Transactions, Energy, Project Finance, Corporate Finance, Construction, Banking and Finance, Public Private Partnerships, Telecommunications, Legislative Drafting, Company Secretarial services and General Commercial Transactional practices.

Currently, she is the Group Head Legal and Company Secretary at Transcorp Plc where she is responsible for overseeing and supervising all legal, regulatory and company secretarial activities.

Prior to joining Transcorp Plc, she was an Assistant General Manager with Eko Electricity Distribution Plc Lagos Nigeria, where she heads the Legal Advisory and Contracts Unit of the Legal Department. She also worked with two of Nigeria's top tier Commercial Law Firms of Banwo & Ighodalo and Paul

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Usoro & Co, both in Lagos Nigeria, where she led teams that successfully closed multimillion-dollar transactions ranging from project finance, infrastructure, PublicPrivate Partnerships, Energy, Communication, Real Estate, etc.

A natural and resourceful leader, Kofo Olawoyin continues to develop and improve herself with a focus on delivering excellent results often in situations and against odds that appear impossible to others.

She is energetic, enthusiastic, critical and dynamic – all quintessential qualities which are intrinsic to her sterling character.

She is a Fellow of the Institute of the Chartered Governance Institute, United Kingdom (formerly the Institute of Chartered Secretaries and Administrators (ICSA) and a Fellow of the Institute of Credit Administration (ICA).

DEJI ADEGOKE Deji Adegoke is a seasoned and experienced lawyer with over 12 years' worth of experience under his belt.

Currently, he is a partner in the Energy, Infrastructure, Project and Asset Finance group of White & Case LLP based in the London office.

Deji has acted for lenders, sponsors and borrowers in project finance transactions, reserve based lending and corporate and acquisition financings covering a wide range of sectors such as oil & gas, mining, infrastructure and telecoms.

His practice focuses on infrastructure, renewables, oil and gas, traditional power and metals and mining. He has acted extensively for lenders, export credit agencies, developers and sponsors in project finance transactions, RBLs, bilateral and syndicated financings, private Merger & Acquisition transactions and acquisition financings within those sectors and particularly in emerging markets.

Deji Adegoke was part of the team at White & Case LLP that advised Qatar Holding LLC, an affiliate of the Qatar Investment Authority (QIA), the

sovereign wealth fund of the state of Qatar, on entering into an agreement to make a US$200 million investment in Airtel Mobile Commerce BV (AMC BV), one of Africa's leading mobile money businesses. The transaction values Airtel Africa's mobile money business at US$2.65 billion on a cash and debt free basis. QIA will hold a minority stake in AMC BV upon completion of the transaction (alongside other minority investors), with Airtel Africa continuing to hold the majority stake. The transaction is subject to customary closing conditions.

Prior to joining White & Case LLP, he was an Associate at Sullivan & Cromwell LLP and an Associate at Slaughter and May. He is also highly skilled in other areas of law such as Corporate Law, International Law, Legal Advice, Corporate Governance, etc.

Deji Adegoke holds a First Class LLB (Hons) Law degree from the University of Warwick and he had his Legal Practice Course at the BPP Law School, London.

Esq Legal Practice | 23

PROFILES FOR OUTSTANDING 40 UNDER 40

DOTUN OBADINA Dotun Obadina is an experienced Merger and Acquisition lawyer with over 10 years' worth of experience in the legal profession. Currently, he is Partner (Mergers & Acquisition) at Jones Day, an American international law firm and the fifth largest law firm in the U.S.

structure Partners; Calgon Carbon's $1.3 billion sale to Kuraray Co., Ltd.; Eastman Chemical's $800 million sale of its tire additives business to One Rock Capital Partners; and PolyOne's $775 million sale of its Performance Products and Solutions business to SK Capital.

He advises public and private companies on transactional and corporate law matters, including public company representations, domestic and crossborder M&A, joint ventures, and other strategic transactions. He also counsels clients on general corporation governance matters.

Dotun leads the M&A Practice in the Minneapolis Office.

At Jones Day, he was part of the team that advised various clients on deals such as; Huntington Ingalls Industries on its acquisition of Alion Science and Technology for $1.65 billion, Eastman on its sale of tire additives business product lines to One Rock Capital Partners for $800 million, etc.

Dotun represents companies in a broad range of industries. He has advised clients on a variety of transactions, including USG's $7 billion sale to Gebr. Knauf; Cleveland-Cliffs' $3 billion acquisition of AK Steel and $1.4 billion acquisition of ArcelorMittal USA; Huntington Ingalls Industries' $1.65 billion acquisition of Alion Science and Technology; NRG Energy's $1.375 sale of its ownership in NRG Yield and NRG's Renewables Platform to Global Infra-

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Prior to him joining Jones Day, he was an Associate at K&L Gates for over 4 years.

Dotun is a two-time Leadership Council on Legal Diversity (LCLD) Fellow (2013 and 2020). In 2021, he was also included in The Deal's list of "Top Rising Stars" and named to Bloomberg Law's "They've Got Next: The 40 Under 40."

Dotun currently serves on the board of directors of Wilderness Inquiry, a nonprofit organization that aims to provide access to the outdoors to all.

UCHENNA EKUMA-NKAMA Uchenna Ekuma-Nkama is a Senior Managing Associate at Dentons US LLP. She has over 10 years' worth of legal experience under her belt. A former Federal prosecutor, Uchenna is a member of Dentons' Litigation and Dispute Resolution practice focusing on complex commercial litigation, white collar defense and government enforcement investigations. She defends Fortune 100 companies in consolidated class actions and complex fraud cases, represents businesses in arbitration, and conducts high-stakes investigations for domestic and multinational companies in white collar matters.

Her experience covers all stages of trial and appellate litigation, including presenting oral argument on motions, taking and defending depositions, examining witnesses in state and federal courts, and dispositive motions practice.

She has authored several briefs filed with federal appellate courts, and has presented oral argument before the U.S. Court of Appeals for the Eleventh Circuit, obtaining a per curiam affirmance of the district court's decision.

Uchenna is recognized as an exceptional advocate; recently Best Lawyers in America recognized Uchenna as one of the “Best Lawyers:

Ones to Watch” (2021 and 2022) for her work in Commercial Litigation and Criminal Defense: White Collar. The Legal 500 also ranked Uchenna as a “Rising Star” (2021). In 2018, Uchenna was named to the National Bar Association's “40 Under 40 — Nation's Best Advocates.” Uchenna was also first recognized by The National Black Lawyers, “Top 40 Under 40” in 2016.

She is also passionate about and committed to civic and community engagement.

Uchenna is a graduate of LEAD Atlanta, a highly selective leadership development and community education program targeted at promising young professionals. In addition to performing pro bono work for individuals and nonprofit organizations, she has been active in local and charitable organizations, including UNICEF USA and UNICEF Next Generation's Steering Committee, the Atlanta Volunteer Lawyers Foundation (AVLF), Leadership Council on Legal Diversity (LCLD), the Georgia Diversity Council, and the Georgia Association of Black Women Attorneys.

Uchenna also serves on the faculty of the National Institute for Trial Advocacy (NITA) and Emory University School of Law's KesslerEidson Program for Trial Techniques.

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PROFILES FOR OUTSTANDING 40 UNDER 40

OYINKANSOLA FAWEHINMI Oyinkansola is a legal professional with over 7 years of practical experience spanning the entertainment law, corporate law, regulatory, company secretarial services, talent management and transactional expertise.

Currently, she is the President Digital Music Commerce and Exchange Ltd (DMCE), an entertainment company providing specialized Intellectual Property Valuation, licensing, Administration, and protection services to its clients. Prior to joining DMCE, she was the company secretary at Leenok Industries Limited where she was in company secretarial activities such as ensuring company's compliance with the relevant regulations, act as liaison between the company and the relevant regulatory agencies, organize and prepare the company and its directors for meetings, ensure strict compliance with corporate governance code, etc.

Oyinkansola Fawehinmi is also the Founding Partner of Technolawgical Partners/LegalByte, a boutique law firm that

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services individuals and companies of all organisational sizes throughout the creative and tech industry in West Africa and the United Kingdom.

She is highly proficient in business practices, corporate law, review of agreement/contract, corporate governance, legal research, legal drafting, due diligence, entertainment law, IP & Copyright, dispute resolution practice, corporate litigation, contract negotiation, Microsoft office and a background in diverse elements of regulatory management.

She is well Known for adding significant value by leveraging a combination of legal proficiency, industry knowledge and business acumen to influence key stakeholders.

Oyinkansola demonstrates practical application of laws and regulatory issues, corporate governance and business practice and finance while partnering closely with team members to achieve growth and corporate goals. A Techsavvy individual who has an incredible understanding of modern technology.

OLUTOLA BELLA As Head, Corporate & Investment Banking Legal at Stanbic IBTC Bank, where he has the responsibility for leading and managing the team that provides legal, regulatory and transactional advice and support to the client coverage, global markets, investment banking and transactional products and services businesses of Stanbic IBTC Bank, a member of the Standard Bank Group.

He joined Stanbic IBTC Capital Limited in 2012 as legal counsel for Investment Banking. At Stanbic IBTC Capital, Olutola advised on diverse investment banking transactions cutting across debt and equity capital markets, financial advisory, real estate finance, power, infrastructure and oil & gas.

In September 2018, he was seconded to Standard Advisory London Limited for a year.

Prior to joining Stanbic IBTC, he worked at Banwo & Ighodalo, a top-tier commercial law firm, from 2009 to 2012, where he was a key member of the Corporate, Securities and Finance Practice Group. At Banwo & Ighodalo. He advised on several capital markets, syndicated loans and corporate finance transactions. He also had a brief stint as an Associate with Aluko & Oyebode where he involved with practice areas such as; Corporate and Commercial Law, Regulatory Compliance, Litigation Olutola Bella holds a Master of Laws (LLM) from the University of Cambridge and a Bachelor of Laws (LLB) from Obafemi Awolowo University, Ile-Ife. He was called to the Nigerian Bar in 2007.

Esq Legal Practice | 25

PROFILES FOR OUTSTANDING 40 UNDER 40

OLUFEMI GBEDE Olufemi Gbede is a seasoned and experienced legal professional with over 10 years of legal experience under his belt. Currently, he is an Investment Funds Attorney at Fried Frank & Associates where he advises on the formation and operation of U.S. and offshore hedge funds, fund of funds, venture capital and private equity funds.

He cut his legal teeth at Olaniwun Ajayi LP as an Associate, a law firm in Lagos, Nigeria, where he garnered significant experience in corporate/transactional law practice and dispute resolution. Olufemi also served as an Investment Funds Associate at Schwartz LLC, New York for over 3 years where he advised on federal and state laws and regulations governing securities, funds, and advisers.

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Olufemi Gbede is also the Secretary-General of the Association of Young Arbitrators and a Director at the Africa Arbitration Academy. Quite resourceful in his approach to matters, he was also a drafting committee member of the Protocol on Virtual Hearings in Africa, a project that has received enormous commendations from the international arbitration community. He is also a member of the editorial team at Africa Arbitration.

NAOMI AMOBI Naomi Amobi is a Legal Regulatory Counsel at Paystack. She is a graduate of the London School of Economics and Political Science and was called to the Nigerian Bar in 2012.

She afterwards cut her legal teeth working in Associate and Senior Associate roles at Aluko & Oyebode, one of Nigeria's full-service law firms.

Naomi is immensely experienced at managing relationships with local regulators on behalf of numerous international clients and constantly brings her fine erudition and renowned diligence to display in her professional engagements.

At Paystack, she ensures satisfactory compliance with extant tech law, IP law, and financial services regulations.

Femi is a trained journalist and he is a member of the Nigerian Bar and New York Bar. He holds a Master of Laws (LLM) degree from the University of New York School of Law and a Bachelor of Laws (LLB) degree from Ogun State University.

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NIGERIAN LEGAL

AWARDS 2021 ...celebra ng the important contribu on of Nigerian Lawyers to Businesses

THE WINNERS

2020/2021

ADEDOLAPO AKINOLA HEAD,

LEGAL AT KUDA

Adedolapo Akinola is a banking & finance, capital markets and general corporate advisory lawyer with experience in transactions spanning corporate and project finance, debt restructuring, syndicated lending, secured transactions, mergers and acquisitions and equity and debt capital raising.

She is the Head of Legal at Kuda Microfinance Bank Limited and she played a significant role in the Series A and B investment rounds of the bank amounting to a total raise of USD80,000,000. She is also involved in the current cross border expansion plans of the bank and advises on the day-to-day affairs of the bank.

Prior to her move to Kuda Microfinance Bank Limited, she was a Senior Associate at Udo Udoma & Belo-Osagie, a tier 1 law firm in Nigeria and was actively involved in several notable transactions.

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Adedolapo has advised various financing transactions involving Development Finance Institutions such as the International Finance Corporation, the Africa Finance Corporation and the African Development Bank.

She has also advised corporate investors such as local and foreign commercial banks and private equity firms on their debt and equity investments in Nigeria. She was part of the team that advised ARMHIF, Nigeria's first indigenously developed and managed Infrastructure Fund, and the first Infrastructure Fund in which Nigerian Pension Funds made investment commitments.

Among her astute publications include - The Law and Female Genital Mutilation (Nigeria), Securities Finance & Preliminary Agreements: International Acquisitions (Nigeria) among others.

ADUNOLA AKINDELE HEAD LEGAL,

COMPANY SECRETARY, ECHOSTONE HOUSING NIGERIA

Adunola is an experienced legal and compliance professional with over 10 years' experience in the legal profession. She possesses exceptional analytical, stakeholder management and problem-solving skills across different industries.

Currently, she is the Head of Legal/Company Secretary at Echostone Housing Nigeria where she is responsible for Overseeing the management of all legal risks within the organization. She is also, responsible for developing and maintaining relationships with external lawyers, close liaison with finance function in relation to the establishment, growth and day to day operation of the West Africa operations.

involved in drafting, reviewing and analysing commercial agreements, structuring and creating legal frameworks for commercial transactions, company Secretarial functions, etc. She also worked briefly at Optimum Law Publishers Limited as an Assistant Editor where she was involved with reading and editing judgments of Superior Courts of Nigeria, reviewing lengthy judgments, paying attention to details, editorial work was done in teams, etc.

She holds a Master of Laws (LLM) degree in Intellectual Property Law from Queen Mary University of London and Bachelor of Laws (LLB) degree from Olabisi Onabanjo University. She was admitted into the Nigerian Bar in 2010.

Prior to joining EchoStone Housing Nigeria, she was the Corporate Commercial Team Lead at George Etomi & Partners where she was

Esq Legal Practice | 27

THE WINNERS 2020/2021

TITILAYO GIWA COMPANY SECRETARY/ HEAD OF LEGAL, RIPEN MARINE CONTRACTORS

Titilayo Giwa is a commercial lawyer and gender equality advocate based in Lagos. She currently serves as Company Secretary & Legal Counsel to Ripen Marine Contractors; a leading EPCI company in the Oil & Gas industry.

She is well known for her remarkable skills in corporate/commercial advisory, dispute resolution, intellectual property and regulatory compliance.

Titilayo also advises on project development, financing, acquisition and transfer of projects related to oil and gas production.

Titilayo has advised on numerous high profile crossborder commercial transactions with a combined worth of over USD$160 million. She led the contract negotiation and review for a collaboration with a multibillion dollar franchise to be their in-country representative.

As an in-house counsel, she regards other processes in her organization as her clients and her priority is to establish a Quality Management

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AKANA CHUMA KENNETH PARTNER, CHESTTER LAW LP

Chuma is a commercial lawyer and a partner in the law firm of Chestter Law LP. He specializes in Technology, Titilayo has advised state Media and Intellectual governments, various Property Law with a bias for companies and HNIs in the financial technology (FinTech) Oil & Gas, Maritime, Aviation, law and policy. He has over a Financial Services, Real Estate decade of experience advising & FMCG industries. clients in Corporate and Titilayo consistently lends her Commercial law, Financial voice and social platforms to Technology, Intellectual challenge gender-based property law, Mergers and violence against women and Acquisition, and he is astute children as part of her in Private Equity and Venture campaign to fight injustice in Capital transactions. Chuma the world. She is a regular has represented tech startups speaker at events and focus and other corporate clients on groups, championing the various cross border enthronement of diversity and transactions. inclusion in Nigeria. She was recently invited by the Chuma is the Founder of the Nigerian Bar Association to be Innovation and Technology a panelist at the just Lawyers Network (ITELAN), concluded 61st Annual a network of tech lawyers and General Conference where she start-ups with the mission to spoke on Workplace bridge the law and technology Harassment and Bullying. gap. Chuma worked as System for her process which she has done successfully.

Titilayo is a graduate of the University of Benin and was admitted to the Nigerian Bar in 2014.

General Counsel for 3 years in a top multinational company involved in international trade and financial services, in which time he was seconded to one of the top tier law firms where he advised elite clientele on matters relating to Capital Markets, Energy and Cyber security. Chuma has also advised on several landmark transactions both

locally and internationally on Fintech and Intellectual Property Law. An alumnus of the Lagos Business School, Chuma is a regular speaker at seminars and conferences, and has written several publications on internet and digital media regulation, emerging technologies, blockchain, data protection and privacy, equity and mezannine financing, etc He is a champion of data privacy, cybersecurity and technological disruption in the digital economy. He also sits on the board of two tech companies where he provides strategic legal advice.

Chuma is widely regarded as a foremost Fintech lawyer.

Chuma is very knowledgeable in transactional work with an excellent eye for business considerations. He is a member of the Section of Business Law, Nigerian Bar Association (NBA), a member of the Human Rights Committee of the Nigerian Bar Association, Lagos Branch where they defend indigent members of the society, International Bar Association (IBA) and African Bar Association.

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THE WINNERS 2020/2021

AKOREDE HABEEB LAWAL PRINCIPAL, A.H. LAWAL & CO

Habeeb is the Principal Counsel in A.H. Lawal & Co, a litigation firm in Asaba, Delta State. He graduated from the University of Ilorin in 2009 and was called to the Nigerian Bar the following year, 2010.

A true rounded lawyer, Habeeb has prosecuted many cases of note in many courts of records, some of which have been reported in the Nigerian law reports. In Okolie v. INEC (2017) LPELR - 43405 (CA), he successfully argued the appeal wherein court declared a new Aniocha North II State Constituency in Delta State. The said new constituency has been a great yearning for the people in the region and active steps have been taken by INEC to implement the decision of the court.

From his days as a young lawyer, Habeeb has been involved in bar activities. He was the Assistant Publicity Secretary and Publicity Secretary of Nigerian Bar Association, Asaba Branch and in 2018, he was elected as the National Assistant Publicity Secretary of the Nigerian Bar Association.

Under the supervision and direction of the then NBA President (Paul Usoro, SAN),

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he drove the NBA ICT concerns, social media presence, website project and even set up a toll free line for the NBA. He was a member of the NBA Election Working Group for the 2019 General Elections and he is presently a member of the NBA AntiCorruption committee.

Habeeb enjoys writing and his works are frequently featured on blogs and newspapers. He was a columnist of “The Law and You” in The Pointer, an Asaba-based regional newspaper. He also co-edited the Nigerian Bail Application Report (2011). Habeeb is particular about young lawyers' development and he was described by former NBA President, Paul Usoro, SAN in 2019 in a NEC Speech as “a young lawyer-centric national officer.” He is a regular speaker at mentoring sessions for young lawyers and law students.

Habeeb is the Legal Adviser of Delta State Council for Islamic Affairs, an Associate Member of the Nigerian Institute of Management (Chartered) and a Fellow of the Institute of Management Consultants-Nigeria.

AYOYINKA OLAJIDE - AWOSEDO PARTNER, AARNDALE SOLICITORS

Ayoyinka is a member of the Chartered Institute of Arbitrators UK and the International Bar Association.

She has served as the Publicity Secretary for the Capital Markets Solicitors Association and is an active member of the Section on Business Law of the Nigerian Bar Association.

Ayoyinka's main practice areas are corporate/commercial law and corporate finance. She advises clients both local and international regularly on multi-billion Naira transactions. She represents AARNDALE as company secretary and legal advisor on the Boards of various companies both private and public and regularly advises on the incorporation of companies, regulatory compliance, corporate governance and corporate restructuring with regard to shareholding and Board membership.

She is currently advising one of the largest prominent media and entertainment groups in Nigeria on obtaining debt and equity financing from a private equity firm and the corporate restructuring of its various entities. She acts as legal advisor to a corporate real estate development company with respect to the divestment of its US$100 million asset.

She is company secretary and legal adviser to an international fintech company – assisting in the incorporation of its Nigerian entity and advising on running its operations in the Nigerian market. She advised and assisted a foreign mobile communications company in acquiring its communications licence. She was part of a team that advised a foreign online retail store on its direct investment and entry into Nigeria.

Prior to joining AARNDALE, Ayoyinka worked at a leading law firm in Nigeria in the Corporate and Commercial and Banking and Finance departments and at Linklaters LLP in London with the Project Finance and Capital Market teams.

Ayoyinka led a due diligence team and advised a Nordic bank with respect to its acquisition of a local microfinance bank. She has also advised a European development bank (as lender) on a 7-year US$20 million Unsecured Subordinated Convertible Facility to a Nigerian Bank. She was an active member of a team that advised on the acquisition of a US$120million majority stake in Nigeria's largest switching company.

Esq Legal Practice | 29

THE WINNERS 2020/2021

DAVID OLURANTI HEAD OF LEGAL, FLUTTERWAVE

David is an experienced commercial lawyer with a proven track record of success at understanding and a working knowledge of all aspects of contractual management clauses, understanding of key contract risks and areas for opportunity and able to lead project risk review process and assessments.He is knowledgeable at commercial law and practice, regulatory and compliance law, governance practices, administrative and Arbitral hearings, courtroom representation, legal research and presentation, client management, legal issue administration, legal documentation, client relationship building.

He is an experienced commercial tech lawyer who currently heads the Legal team at Flutterwave where he is responsible for training and development of the Legal team, offering legal advice and opinions to the Board of Directors, ensuring regulatory compliance across various jurisdictions, liaising with the company secretary to ensure that all legal related statutory returns are filed with the appropriate regulatory

bodies.

With over a decade's experience, he is adept at commercial law and practice, tech law, regulatory and compliance law, governance practices, administrative and arbitral hearings, courtroom representation and client management. Before joining Flutterwave, David had previously gained experience at Criminal Defence Solicitors (Temple, London), Immigration and Asylums Tribunal (London), London Probation (Hounslow), Strachan Partners (Lagos), Price Waterhouse and Coopers & Lybrand (PwC) (Lagos) and Olaniwun Ajayi LP (Lagos).

David likes to kick back with reading just about anything, playing basketball and or tennis, baking, running marathons, watching Formula 1 racing and finding legal loopholes. He is a regular speaker at tech related events, webinars, trainings and lectures. David is an alumnus of the University of Lagos, Akoka and Brunel University, London where he obtained his LL.B and LL.M respectively.

DAYO ADU MANAGING PARTNER, FAMSVILLE SOLICITORS

Dayo Adu is the Managing Partner of Famsville Solicitors, and leads the firm's Corporate & Commercial Practice , Labour & Employment, Foreign Direct Investment & Citizenship, Business and Investment Immigration practice groups. He advises on due diligence, regulatory and compliance audit, corporate and internal investigations, and general commercial law.

His practice is praised for its “professionalism and responsiveness” accordingly offering “great customer service” on matters including expatriate work authorisation.” Further, Dayo's practice provides “indepth knowledge of the entire relocation business” and he has particular strength on matters relating to immigration procedures according to respondents.

He also renders legal advice on foreign investment in Nigeria, corporate structures for investment, investment incentives, tax breaks for foreign investors and company establishment procedures. He has advised both indigenous and international firms and companies on general commercial laws cutting across different industries.He is well known for assisting companies to mobilize their employees from a legal and operational point of view by providing services within expatriate work authorization, tax and employment-related matters. He also advises key clients on varied IP issues ranging from preliminary advice on the registration of a trademark, patent and copyright to matters involving commercial issues like Franchising, Licensing and Assignment.

He is a seasoned negotiator and mediator (“PNM”) and also an associate member of the Chartered Institute of Arbitrators, UK. He has numerous publications to his name and has also coauthored the Nigeria chapter for several notable international publications on Foreign Direct Investment, Secured Lending and Finance, Trademarks, Business Crimes, Labour & Employment Law, Product Liability, Corporate Immigration and Construction Law. He is a Notary Public of Nigeria and he has been recognized by Who's Who Legal (WWL) from 2018 till date for his expertise in Corporate Immigration, Labour & Employment & Investigations in Nigeria and also the legal 500 for Corporate and Commercial law.

He is well-known for his “indepth knowledge of the whole immigration regularisation process” and “an ability to solve very difficult immigration issues amicably”.

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He is also the Nigerian Representative of the Association of International Young Lawyers (AIJA) and a member of the American Bar Association.

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THE WINNERS 2020/2021

DEMILADE OLAOSUN PRINCIPAL PARTNER, RBMM SOLICITORS

Demilade Olaosun is an experienced and seasoned media and entertainment attorney with over 10 years' worth of experience under his belt.

Currently, he is the Principal partner at RBMM Solicitors, Media and Entertainment Attorneys where he leads the pack of brilliant and passionate people that insist on delivering only the best services with integrity and professionalism.

Prior to becoming the Principal partner at RBMM Solicitors, Media and Entertainment Attorneys, he was an Associate at Ikeyi & Arifayan Barrister and Solicitors where he practiced law and was responsible for providing various local and foreign clients with legal services in the areas of Electricity Law, tax forensic investigation, transaction support and general project advisory services. He left the firm to pursue his passion of providing strategic advisory services in the Nigerian entertainment industry and grooming the careers of emerging entertainers to achieve the greatest of heights. He left the firm to pursue his passion of providing strategic advisory services in the Nigerian entertainment industry and grooming the careers of emerging entertainers to achieve the greatest of

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heights. Demilade graduated with the best result in the Faculty of Law, University of Lagos in 2008, winning several academic prizes including the ViceChancellor's prize for the best all round performance in the Faculty of Law 2007/2008, Dr. Taslim Elias prize for the best student in Jurisprudence, Scholarship prize from the prestigious law firm of Aluko & Oyebode.

Demilade recently led the Legal Team that advised a Nigerian Music Streaming start up on the offtake of Equity in the Company by Mr. Matthew Knowles, Former Manager and Father of Pop Star, Beyonce.

Demilade Olaosun is also skilled and competent in corporate and commercial law with a special interest in Intellectual Property law. He currently serves as a legal coach/Consultant to various media and entertainment practitioners. Also engages in training sessions for industry participants.

Demilade provides pro bono legal advisory and transaction support services to upcoming players in the entertainment industry (including artistes, actors, music producers etc), thereby contributing immensely to the evolution and development of a good number of players in the entertainment industry.

DINDAM KILLI MANAGING ASSOCIATE, ALUKO & OYEBODE

Dindam is a key member of the firm's Abuja office team.

His practice areas include litigation, arbitration and alternative dispute resolution, corporate and commercial law, oil & gas and intellectual property. Dindam is an experienced litigator who regularly represents a broad range of clients before different courts and tribunals.

From his early days as a legal practitioner, Dindam developed a penchant for dispute resolution and solving complex legal issues. His practice typically involves regular appearances before several courts including the ECOWAS Community Court of Justice, the High Court, Court of Appeal and the Supreme Court.

In one particular dramatic case, Deyda Hydara Jnr & 2 Others v. Republic of The Gambia, he represented the family of a brutally murdered popular Gambian journalist in proceedings instituted before the Economic Community of West African States (ECOWAS) Community Court of Justice against the Gambian government. In a widely reported judgment delivered in 2014, the ECOWAS court granted the Applicants' relief.

Also, Dindam successfully represented an electricity distribution company in proceedings challenging the ultra vires exercise of the statutory powers of the

industry regulator and the unlawful imposition of taxies and levies by local authorities.

His representation of corporate clients includes a giant Spanish oil company in an arbitration resulting from the termination of a contract with a Nigerian oil company, and a global information and communications technology solutions provider and its local subsidiary in an action for the recovery of over N1.6 billion in proceedings before both the High Court and Court of Appeal.

In 2013, he was one of the first persons from his 2006 Law School set to be sworn in as a Notary Public. He is a member of the Chartered Institute of Arbitrators and a member of the Nigerian Bar Association, Section on Business Law. Dindam has been a member of the Special Marshalls Corps of the Federal Road Safety Commission since 2016. He regularly represents indigent persons in criminal proceedings before the Court of Appeal and Supreme Court on a pro bono basis.

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THE WINNERS 2020/2021

INA AROME

OLUWATOMILOLA TOBUN SENIOR ASSOCIATE, PERCHSTONE & GRAEYS

Ina is a corporate and commercial lawyer with over 9 years' experience in the legal profession. Currently, she is a Senior Associate Aluko & Oyebode where she focuses on business advisory, mergers and acquisitions, and other significant business transactions. She has significant experience advising companies in telecommunications, media, entertainment and technology, ranging from early stage companies to established multinational corporations.

Ina currently heads Aluko & Oyebode's Start-up Practice and is a core member of the Telecommunications, Media, Entertainment and Technology (TMET) Practice.

Ina also has extensive experience managing deals in the energy and natural resources sector.As a corporate/commercial lawyer, she enjoys the constant challenge of finding practical, commercial and innovative solutions to complex legal issues. She gains the most satisfaction from fostering and nurturing close client relationships – because that's where the most effective, client-driven solutions start.

She was part of the working group that provided comments and input to the Data Protection Bill 2020 that is being introduced and sponsored by the agencies

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and departments of the Federal Ministry of Communications and Digital Economy. She also provided comments and input to proposed legislation, which include the current Nigeria Data Protection Regulation and Implementation Framework for the Nigeria Data Protection Regulation.

Ina is committed to providing top quality professional services to clients with a view to achieving client objectives.

She proactively identifies ways in which the Firm can add value to clients' businesses and she is focused on delivering innovative solutions.

Ina is passionate about education and is deeply committed to ensuring that Nigerian children are educated and empowered.

She is currently sponsoring a child through The Destiny Trust, which is a nongovernmental organisation that educates, empowers and cares for homeless children.

The sponsorship provides a safe and loving environment, excellent education and training in which the child can thrive and develop to his/her full potential.

Tomilola is an experienced legal practitioner with over 10 years' experience in the legal sector. Currently, she is a Senior Associate at Perchstone & Graeys and she leads the Corporate Practice Group of the firm. Tomilola offers practical and ingenious solutions to businesses with a view to helping them identify the inefficiencies in their corporate, employment & tax structures as well as guiding them through growth and sustainability.

Prior to joining Perchstone & Graeys, she was a Senior Legal Associate at WFO Roedl & Partner and an Associate at Funmi Roberts and Co. Her transactional experience cuts across Corporate Restructuring, Mergers & Acquisitions, Corporate Governance, Finance & fundraising (for Startups) and Employment advisory.

At Perchstone & Graeys, she is the head of the Solicitors' Department and she leads the Corporate Practice Group of the firm. Tomilola offers practical and ingenious

solutions to businesses with a view to helping them identify the inefficiencies in their corporate, employment & tax structures as well as guiding them through growth and sustainability. Her transactional experience cuts across Corporate Restructuring, Mergers & Acquisitions, Corporate Governance, Finance & fundraising (for Startups) and Employment advisory.

Tomilola has vast commercial experience and her excellent analytical skills are a value add to any client.

Tomilola has vast commercial experience and her excellent analytical skills are a value add to any client. She holds a Master of Laws (LLM) degree from University of Pretoria and she was admitted to the Nigerian Bar in 2010. She is also an Associate Member of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).

Ina obtained her Bachelor of Laws (LL. B) and her Master of Laws (LL. M) degrees from University of Buckingham, UK. She was called to the Nigerian Bar in 2012.

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THE WINNERS 2020/2021

TUMI BELLO LEGAL OFFICER, STERLING BANK

Tumi is an experienced Legal professional who has extensive experience in the Banking Sector as a Legal Officer. She is currently a Legal Officer at Sterling Bank, a post she has held since 2013.

Prior to joining Sterling Bank, she was also a Legal Officer at the now defunct Intercontinental Bank Plc. Tumi is highly skilled in Legal activities related to the Banking sector, Legal Advice, Risk Management and International Law. she was responsible for the digitization of the Bank's facility documents for the SPECTA product of Sterling Bank Plc which avails credit facilities to customers within 5 minutes of application. This product has gained wide acclaim nationwide and won the Bank awards and

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recognition.

She was nominated by the Human Resource Group of the Bank to serve as a coach for newly employed staff in Sterling Bank. Her duties include guiding her team members on the values of the Bank, leading projects assigned to the team to develop value additions and services, while also demonstrating professionalism and good ethics. Being a lawyer, she also provides legal opinions and advice to the team.

She holds a Bachelor of Laws (LLB) degree from the University of Lagos and she was called to the Nigerian Bar in 2006.

IYIOLA OYEFESO GROUP HEAD, LEGAL SERVICES AND COMPANY SECRETARY OF AA&R INVESTMENT LIMITED (AA&R)

Iyiola Oyefeso is the Group Head, Legal Services and Company Secretary of AA&R Investment Limited (AA&R), a holding company with several subsidiaries, operating across the oil and gas, logistics, agribusiness and technology industries. Iyiola has over thirteen years proven experience in providing efficient legal, contractual, regulatory compliance and company secretarial support to companies in various industries, particularly the oil and gas industry.

She combines her legal knowledge, understanding of corporate governance, excellent analytical, communication and people management skills in solving corporate legal issues and providing legal guidance for organizations towards achieving their strategic goals.

As a general counsel, Iyiola represents AA&R's interests by minimizing contractual

and legal risks, diligently analyzing issues and proffering solutions to legal issues.

In her practice over the past 13 years, she has advised on various acquisitions worth millions of dollars, negotiated oil and gas service contracts and provided legal advisory support on major multiindustry issues.

She is a mentor to a number of young Nigerian lawyers to help younger lawyers attain career growth faster and help them become referral worthy professionals.

Iyiola holds a Bachelor's and Master's Degree from the Lagos State University (LASU) and Warwick School of Law, Warwick University, UK respectively.

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THE WINNERS 2020/2021

OMOTESELE ESEKHAIGBE HEAD OF LEGAL & COMPLIANCE, TECHADVANCE

Omotesele is a seasoned lawyer with a fine understanding of the regulatory framework surrounding complex issues faced by investors in the tech space.

She has in-depth research capabilities and cognate commercial experience and has been involved in conducting legal due diligence in various sectors of the economy and advises both foreign and local clients. She has a strong academic background from The University College London where she also gained membership as a Member of the Chartered Institute of Arbitrators, United Kingdom (MCIArb).

Prior to joining Techadvance, she worked with a leading

commercial law firm Jackson, Etti & Edu ( a full service law firm focused on providing legal services to clients in core sectors) and managed portfolios for top international clients. She over the years has gained experience in International Commercial Arbitration, Intellectual Property Rights Enforcement, Commercial Litigation as well as General Commercial Legal Advisory.

Omotesele has mentored young university students who are interested in Intellectual Property and have little or no knowledge of the same. This is done with the help if a non profit organisation called My Intellectual Property Law Guide "MIPLG’

OSINACHI NWANDEM SENIOR ASSOCIATE, AELEX

Osinachi Nwandem is a lawyer and arbitrator with vast experience and expertise in Construction Law and Arbitration. He also had prior exposure to litigation and arbitration in a range of commercial disputes ranging from contracts, labour and employment, debt recovery, telecommunications, maritime and taxation.

He practices law at AELEX Legal Practitioners & Arbitrators, one of Africa's leading law firms.

Osinachi received his law degree from the Rivers State University of Science and Technology, Port Harcourt Nigeria. He obtained his LL.M. degree from the University of Ibadan, Nigeria.

He has a particular interest in assisting clients to resolve their construction disputes, and is passionate about developing the practice of construction law in Nigeria.

He is a member of the Institute of Construction

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Industry Arbitrators (ICIArb), the International Bar Association and the Nigerian Bar Association – Section on Business Law. Osinachi is a regular contributor to several peerreview journals, texts and publication platforms including the Gravitas Law Review, AELEX Article Series and Mondaq, where he proffers viewpoints on recent developments in construction disputes and contracts. He has also been invited to speak at an event organised by the International Bar Association.

Driven by his passion to develop the construction law/arbitration in Nigeria, Osinachi established in 2020 two construction law blogs (osiconstructionlawblog.com and osiconstructionlawblog.word press.com) where he regularly posts on legal issues on construction law and arbitration.

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THE WINNERS 2020/2021

SIMILOLUWA OYELUDE PARTNER, G. ELIAS & CO

Simi is a Partner with G. Elias & Co. in Lagos, Nigeria. She is a member of the International Trademarks Association, a member of the Nigeria Bar Association and holds an LL.M from the University of Lagos and LL.B from Ambrose Alli University Ekpoma. Her practice focuses on intellectual property, Media, Technology and Fintech.

She was called to the Nigerian Bar as a Barrister and Solicitor of the Federal Republic of Nigeria on the 14th of February 2012 . Whilst embarking on the mandatory National Youth Service Corps (NYSC) programme she served in a legal firm as an NYSC Intern in Oyo State.

She thereafter started her legal career in the commercial law firm of Johnson Bryant in Lagos Nigeria where she

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worked on commercial law matters, drafted commercial agreements, franchising documentation, trade secrets documentation, distributorship as well as managed the intellectual property portfolio of numerous multinational and blue chip companies as it relates to searches, filings, brand registration, protection, ,technology transfer, registration and enforcement of intellectual property rights.

Her commercial practice also covers advisory on regulatory/compliance issues, dealing with relevant regulatory bodies such as SON , CPC and NAFDAC. Her goal is to contribute to the development of young lawyers with regard to leadership,mentor-ship ,management and information Technology.

SOLOMON UGOCHUKWU EZIKE LEGAL CONSULTANT AT THE WORLD BANK; INTERNATIONAL ARBITRATION AND BUSINESS LAWYER

Solomon is a Legal Consultant at World Bank, Washington D.C, USA, a position he recently assumed in July 2021.

Prior to joining the World Bank, he was a Senior Associate at G. Elias & Co., one of the foremost and leading law firms in Nigeria where he was involved with different practice areas of the legal profession such as Corporate Law, Commercial Litigation, Intellectual Property, Civil Litigation, Mergers & Acquisition, etc.

He cut his professional teeth in the Legal profession at Messrs Hali Chambers where he excelled in Litigation, Arbitration and Dispute Resolution.

Solomon co-founded, building our World Impact Foundation in February 2014, a not-for-profit organization dedicated to empowering students and young adults through the provision of educational materials and

mentorship programs; and The Gold Badge in June 2015, an outfit dedicated to inspiring, supporting and celebrating excellence and diligence among young people in Nigeria. He has a pool of bar aspirants and young lawyers that he constantly mentors.

He is a regular guest correspondent on 'The Court House', a weekly program on Loveworld Plus Television, where he addresses diverse legal issues/topics in "everyday" language.

Solomon Ezike is a proud Alumni of University of Calabar where he got his Bachelor of Laws (LLB), he holds a Master of Laws (LLM) degree from American University Washington College of Law and he was called to the Nigerian Bar in 2011.

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THE WINNERS 2020/2021

CHIAMAKA OKEKE GROUP HEAD LEGAL COUNSEL /COMPANY SECRETARIAT, AFRICAN INDUSTRIES GROUP

As the Group Head Legal Counsel/Company Secretary for African Industries Group, Chiamaka manages and oversees legal and governance matters for the Group. The Group has over 30 companies and operates in different sectors such Manufacturing, Power generation and Distribution, Agriculture, Construction, Maritime, Logistics and Mining with a combined net worth of over $2.5B. An accomplished, analytical and result-oriented legal professional with over 14 years of experience in a myriad of legal functions ranging from corporate governance/restructuring, commercial transactions/business advisory to regulatory compliance. Adept at providing solutions to complex transactions, fostering and managing business relationships and providing innovative legal solutions within the ambit of cost effectiveness while minimizing organizational risk exposures. Driven to realizing the attainment of organizational goals with a high level of integrity, tact and a deep respect for confidentiality and authority.

Her demonstrated success over the years in advising both Board and Management on Legal and Governance strategies has positioned her to make a significant impact

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in Africa Industries Group.

She incorporated and established over 20 legal entities including subsidiaries that are fully operational and profitable for the Group.

Under her leadership there has been an increase in the group's statutory and regulatory compliance efficiency by over 400%. She has been able to put in place good Corporate Governance practice across the group and its subsidiaries by engaging the management to see this not as a box ticking exercise but as a culture for effective growth and progress, this has led to an increase in Board effectiveness and effective Shareholders Engagement across the group.

Chiamaka believes that education is the right of every child and every child should have access to quality education. This is why she partners with several organizations such as the loveworld inner city missions to organize “Back to School” campaigns, where students in the inner cities are provided with books and uniforms to go back to School and the beginning of the school term.

CHINENEYE UWANAKA MANAGING PARTNER, THE FIRMA ADVISORY

Chinenye is a nation builder, and her true passion is to empower people and fight against extreme poverty and Injustice. She is the Founder and Managing Partner of The Firma Advisory - a boutique law and Consulting Firm in Nigeria with clients in Africa, Middle-east, Europe and America. Some of the firm's core practice areas include; Energy Law, Information Technology, Intellectual Property and so on. Chinenye is also the Founder and CEO of The Firma Foods and The Firma Energy, which focus on impact investments in agriculture and renewable energy. She is an International Speaker & Instructor who has convened, hosted and moderated several stakeholder engagements, conferences and webinars with Government Agencies, Policymakers, World Renowned Experts, International Economists and World class Entertainers, Record label Bosses & Managers.

Chinenye is a Harvard trained Policy Implementation Expert and Convener of Africa Policy Conversations Initiative (AFPC) which is a Pan – African group of intellectual professionals with a goal to revolutionize policies that will serve not only Nigerian citizens but also Africans within the continent and in diaspora. AFPC works with International Organisations like the World Bank and has partnered with Nigerian

Sovereign Investment Authority (NSIA) on programs. She is the Thematic Lead for Innovation and Intellectual Property for the National Assembly Business Environment Roundtable (NASSBER), a collaboration between the Legislative and Executive arms of Government in Nigeria under Nigerian Economic Summit Group (NESG).

Chinenye is a recipient of several awards including a 'Social Impact Award' from the Vice President of Nigeria, Prof. Yemi Osinbajo, for her efforts in improving Access to Justice and pro-bono legal aid in Nigeria. She has been recognized as a Mentor by the Young Lawyers' Forum, Nigerian Bar Association (Abuja Branch). She has collaborated on projects with The World Bank, European Centre for Electoral Support (ECES), African ExportImport Bank (Afrexim Bank), Nigerian Sovereign Investment Authority (NSIA), NITDA, Development Bank of Nigeria amongst others.

Chinenye has been recognized for supporting Tech Hubs like Seedbuilders and Civic Innovation Lab. She was recognized by the UK Ministry of Justice as a Legal trailblazer. She has also been recognized as an Innovative Female Founder by the Nigerian Digital Economy Summit.

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THE WINNERS 2020/2021

CHRISTIAN ANIUKWU ASSOCIATE, ALUKO & OYEBODE

Christian is an xperienced Associate with a demonstrated history of working in the legal services industry. He is skilled in rendering bespoke and practical legal advice on general Corporate Law, Intellectual Property and Corporate Governance, he is an avid legal researcher and a strong professional with resounding academic qualifications and certifications from Nigerian Law School, University of Nigeria and World Intellectual Property Organisation.

Christian Aniukwu is a graduate of law from the University of Nigeria where he obtained his LLB in 2014.

He thereafter proceeded to the Nigerian Law School Abuja from where he graduated in 2015 and obtained the Council of Legal Education Qualifying Certificate (BL). He was called to the Nigerian Bar in 2015.

Christian obtained his Master of Laws Degree (LLM), with a concentration in LLM in IP and Technology Law, cum laude, from the University of Illinois, Urbana-Champaign, USA in 2021.

Christian's work experience spans through his position as a Pupil State Counsel (NYSC) at the DPP's office Ministry of Justice Imo State; litigation Associate and Managing Associate at a litigation firm in Anambra State; IP

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Associate at Aluko & Oyebode, Lagos office; Research Assistant to Head of IP Department, University of Nigeria, as well as research assistant to judicial officers.

Christian, in his current position as IP Counsel at Aluko & Oyebode manages the IP portfolio of several multinationals and renders bespoke IP management advisory to clients. He specializes in brand protection and anticounterfeiting actions.

Christian has authored and published several articles on IP related topics both on international and local platforms. Christian is a member of several national and international groups and associations including the Nigerian Bar Association, American Bar Association, Intellectual Property Law Association of Nigeria, International Trademarks Association (INTA), NBA-SBL IP Committee, AntiCounterfeiting Collaboration, among others. Christian was in September 2021 appointed a member of the Geographical Indications Committee of the International Trademarks Association (INTA). He was recently named a Top IP Lawyer by the IPR Gorilla Magazine, India. Christian is a patron to several IP clubs in various Universities of Nigeria. He is a Knight of the Order of St. Paul (KSP).

TOMISIN LAGUNDOYE HEAD OF LEGAL, NIGERIA, RENAISSANCE CAPITAL

Tomisin Lagundoye is an experienced legal professional who is highly skilled in Mergers & Acquisitions, Capital Markets, Corporate and Commercial Law. She is the current Head of Legal at Renaissance Capital, a leading emerging and frontier markets investment bank, providing access to over 50 markets across the globe with operations in Africa, Central and Eastern Europe, the Middle East and North America. She led the team that advised the Joint Lead Managers on Nigeria law in connection with the Federal Republic of Nigeria's debut Diaspora bond issuance in the international capital market

Commercial, Corporate Law and Mergers and Acquisitions in The Legal 500 2018 Rankings and the 2019 Rankings. Excerpt of client's feedback in The Legal 500 2018 Rankings – “… senior associate Tomisin Ojuawo, who is a rising star in corporate and commercial law is recommended.”

She is also skilled in Legal Advice, Legal Advice, Legal Writing and International Law. She holds a Master of Laws (LLM) degree from The University of Texas School of Law and she got her Bachelor of Laws (LLB) degree from The University of Ibadan.

Prior to joining Renaissance Capital, she was an Associate and Senior Associate at Banwo & Ighodalo. She also spent some time at Udo Udoma & Belo-Osagie as an Associate.

She was recognised as a “Notable Practitioner” in the IFLR 1000 2020 Rankings. She was also recognised as a “Next Generation Lawyer/Partner” for

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THE WINNERS 2020/2021

TOLU OLALOYE SENIOR ASSOCIATE, JACKSON, ETTI AND EDU

Tolu is a Senior Associate in the Intellectual Property and Regulatory & Compliance Practices at Jackson, Etti and Edu. She also doubles as Deputy Sector Head, Financial Services. Tolu advises clients on diverse regulatory issues for leading consumer brands.

Tolu has practiced IP for over a decade; garnering substantial expertise in trademarks, patents and design prosecution. Her clientele includes leading brands and innovators from Asia and the Middle East.

Tolu currently leads the team that represents all the IP clients of the firm from Europe, Asia and the Middle East. As a portfolio manager, she is skilled at protecting the IP rights of her clients by prosecuting trademark, patent, designs and copyright applications across several countries in Africa. She trains different new Associates in the department by sharing interesting advisory work and encouraging collaborative engagement between lawyers and paralegals in the department. She also manages the operations within the department which includes being responsible for process development and business continuity in the department. All paralegals

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and case assistants in the department eventually report to her while she directly reports to the Head of the Department and other Partners. As a business manager, she has been responsible for driving the business in Europe, Asia, and the Middle East as well as the growth of SME's in Nigeria.

She advises and liaises with regulatory bodies in Nigeria such as the Nigeria Trademarks and Patents Registry, Standards Organisation of Nigeria (SON), Consumer Protection Council (CPC), Nigeria Agricultural Quarantine Service (NAQS), National Environmental Standards Regulatory and Enforcement Agency (NESREA) and National Agricultural Seeds Council (NASC).

Tolu liaises with different IP related organizations, such as IPLAN, WIPO Nigeria and INTA on programmes for Intellectual Property awareness in Nigeria. She executed Intellectual Property CSR programmes on behalf of Jackson, Etti & Edu in various IP Clubs across Nigerian universities.

Tolu is one of the pioneers of the firm's Technology Start-Up Initiative where the IP Practice supports Nigeria's budding innovative entrepreneurs through bespoke legal and business service packages.

UCHECHI EGEONUIGWE ASSOCIATE, BROWN RUDNICK LLP, NEW YORK, USA

Uchechi Egeonuigwe is an experienced legal professional with over 7 years' experience in the legal profession. She is currently an Associate at Brown Rudnick LLP, New York, USA, in the firm's Bankruptcy & Corporate Restructuring Practice Group.

Uchechi represents creditor groups, investors, equity holders, and individual borrowers in all aspects of restructuring stressed and distressed companies Uchechi has been recognized

by The New York Law Journal as a 2021 'Rising Star'; named a 2021 NextGen Emerging Leader by the Corporate Counsel Women of Color's (CCWC); received the 2021 “On the Rise – Top 40 Young Lawyer” award from the American Bar Association; named to the Lawyers of Color 2020 Hot List, which honors the nation's rising stars excelling in the legal industry; and honored by The Best Lawyers in America© as a “Ones to Watch” for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law in 2021 and 2022.

Uchechi is a 2021 participant in the National Conference of Bankruptcy Judges (NCBJ) Next Generation Program and in 2018 the NCBJ selected Uchechi as a Judge. Uchechi maintains an active pro bono practice through her work with Lawyers Alliance and New York Legal Assistance Group. She was honored by

The Public Counsel, the nation's largest pro bono law firm, with the William J. Lasarow Award.

Uchechi is deeply committed to diversifying the legal profession and creating opportunities for students and attorneys that are traditionally underrepresented in the profession. In part because of this leadership, she has been recognized as the 2021 recipient of Brown Rudnick's Elizabeth A. Ritvo Award for her sustained commitment and exceptional contributions in furtherance of equity, inclusion, and diversity at Brown Rudnick and beyond.

She also serves as a mentor with the American Bar Association's Section of Litigation's Judicial Internship Opportunity Program and is a member of the Honorable Tina Brozman Foundation for Ovarian Cancer Research (Tina's Wish) junior advisory board.

Uchechi serves on the board of The Brown Rudnick Charitable Foundation, which provides educational resources to underserved communities in New York.

She is also an active participant in Brown Rudnick's recruitment and mentorship initiatives and serves on the Firm's Associate Liaison Committee.

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THE WINNERS 2020/2021

RITA ANWIRI CHINDAH LEAD CONSULTANT, PARDOO PRIME CONSULTING

Rita is an Intellectual Property (IP) and Information Technology (IT) lawyer from Nigeria and was recently listed in the 2020 WIPR Influential Women in IP Trailblazer! She provides advisory, advocacy and transactional legal services to a broad spectrum of local and foreign clients. She has cognate experience in projects concerning data protection and privacy, media law, copyright, trademarks and patent.

Rita is knowledgeable and skilled in Intellectual Property, Information Technology, and Alternative Dispute Resolution & Arbitration. With these combined skills, coupled with skills in corporate law, She helps clients navigate today's dynamic legal and business environment.

She creates awareness and educate creatives, innovators and fellow practitioners on recent cases and development on intellectual property in Nigeria and globally. She also

facilitates networking sessions for lawyers through a platform called 'Building a Community” that meets once a week to network and talk about career.

An Associate Member of the Chartered Institute of Arbitrators (UK) Nigerian branch and a Masters Degree Holder in IP & IT Law from the University of Derby, UK, She is a podcaster host and blogger #IPSERIES and Speaker. She is the chief Convener of the Intellectual Property Society of Nigeria.

She is the current PRO of the Chartered Institute of Arbitrators Port Harcourt Chapter, Pro-Term Secretary Young Members Group of Chartered Institute of Arbitrators Port Harcourt Chapter. Current PRO Young Lawyers Forum Nigerian Bar Association, Port Harcourt Branch.She was listed in the inaugural edition of ESQ Legal Practice Magazine as one of the leading Nigerian Women in Business Law.

BUSOLA BAKINSON TEAM LEAD & SENIOR ASSOCIATE, OLANIWUN AJAYI LP

Busola is an experienced and seasoned legal professional with over 10 years' experience under her belt in the legal industry. Currently, she is a Senior Associate in the Intellectual Property Practice of the Olaniwun Ajayi LP. She provides general legal support and advice in all aspects of this practice area, including Trademarks, Patent, Industrial Designs and Copyright matters. She lays emphasis on IP prosecution and enforcement in various African countries and effectively handles the IP portfolio of local and international corporations.

Prior to joining Olaniwun Ajayi LP, she was a Senior Associate/Deputy Sector Head (Intellectual Property, Technology, Media & Entertainment) at Jackson, Etti & Edu. She attends and participates actively in many international leadership/IP-themed conferences, organized by the major IP organizations worldwide, such as International Trademark Association (INTA), China Trademark Association (CTA), World Intellectual Property Organization (WIPO).

tional Trademarks Association (INTA).

Busola has volunteered in various roles such as hosting Table topics, serving as Cochair of the Public and Media relations committee. She is currently a member of the Data protections committee and has worked on papers and letters to be used as working guides for drafting Data protection regulations in various African countries. She also contributed to African Fact sheets for Intellectual property.

She has been part of the Trademarks officers training for Nigeria and Botswana. She also, successfully secured a sit down meeting between the international trademark Association and the Speaker of the National Assembly of the Federal Republic of Nigeria amongst other things.

Busola facilitates various trainings for students, SME's and lawyers on the importance of IP Busola Bakinson graduated from University of Lagos with a Bachelor of Laws (LLB) degree and was admitted into the Nigerian Bar in 2010.

She was the past Co-Chair of the Africa & Middle East Subcommittee Region of the Public and Media Relations Committee of the Interna-

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THE WINNERS 2020/2021

VICTOR SAMUEL SENIOR ASSOCIATE, UDO UDOMA & BELO-OSAGIE

Victor Samuel is an experienced Legal Professional with over 8 years' experience within the Legal profession. He is currently a Senior Associate at Udo Udoma & Belo-Osagie Law Firm and a member of the firm's banking and finance, energy, projects and infrastructure teams. He advises international and local clients on structuring and financing diverse infrastructure projects; syndicated lending transactions; and debt restructuring. He is instrumental in advising the sponsors of an independent power project in a ring-fenced area of Aba, Abia State, in connection with the debt restructuring of a facility provided by a syndicate of Nigerian lenders and various investors.

At Udo Udoma & BeloOsagie, Victor was a crucial part of the team that advised Daystar Power Group in connection with a multimillion-dollar debt financing from Sunfunder Inc. for the expansion of its solar power projects for commercial and industrial energy users.

He also recently advised the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ)

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GmbH on its Nigerian Energy Support Programme, which involves providing legal advisory services regarding the Nigerian electricity supply industry, as well as fostering investments in the renewable energy, energy-efficiency and rural electrification sectors in Nigeria.

Prior to joining Udo Udoma & Belo-Osagie Law Firm, he was an Associate at Detail Commercial Solicitors and Animashaun, Animashaun & Associates. He also had a brief stint in public service as a state counsel at the Ministry of Justice, Nasarawa State.

Victor is part of the pioneer organisers and speakers at the maiden Academic Advancement Symposium organised in 2019 for the law students of Enugu State University of Science and Technology and other southeastern universities. He routinely mentors law students and young law graduates, providing academic and career advice.

He got his LLB degree in 2012 from Enugu State University of Science and Technology and was called to the Nigerian Bar in 2013.

WALTER RUGBERE HEAD, LEGAL & INTEGRITY, NIGERIA & GHANA, ABB

Walter Rugbere is a legal practitioner with over 12 years' experience in advising and handling corporate transactions, corporate governance issues, regulatory compliance, and complex commercial litigation.

He is currently the Head, Legal & Integrity – Nigeria & Ghana and serves as a Director on the Board of ABB Nigeria, a multinational Power and Automation Company and is responsible for providing strategic legal and ethics counseling to management, at country, region, and business unit level; managing the development of legal compliance strategies for local and regional management, and for coordinating activities with corporate, regional, and country resources.

Before he joined ABB Nigeria, he served as the Legal Counsel of Northwest Petroleum & Gas Co. Ltd and an Associate at Banwo & Ighodalo where he was a member of the Corporate/ Commercial team responsible

for providing legal advisory services on a wide range of issues such as project financing, corporate restructuring, corporate financing and perfection of titles.

Walter has advised several international and local clients on cross-border transactions covering project financing, regulatory and compliance issues, corporate governance, copyright and trademark laws.

He serves as a Mentor and “Big Brother” with the Skills Outside School Foundation, a leading African education, employability and entrepreneurship organization, He holds an LL. B from the University of Benin, Edo State and LL.M (Masters in Law) in Energy, Environmental and Natural Resources Law from the University of Houston, Texas, USA. He was called to the Nigerian Bar in 2009.

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THE WINNERS 2020/2021

ZAINAB BABALOLA HEAD OF LEGAL & COMPLIANCE, NASD PLC.

Zainab Babalola is currently heading the legal and compliance team of NASD Plc, a leading exchange in Nigeria. This role involves the regulation of the activities of NASD's participating members, drafting rules and guidelines for all new products of the company.

Since she assumed her current role, she has strengthened the internal functioning of the company by preparing the relevant policies and SOPs including Communications Policy, and Vendor Onboarding Policy. One of her core duties is to ensure that the participating members (stockbrokers) of NASD's exchange, comply with the relevant provisions of the Investment & Securities Act and Securities & Exchange Commission (“SEC”) Rules.

She is an experienced, wellrounded and resourceful lawyer with a strong work ethic and a mentality focused on excellence. She is highly skilled in Capital Markets, Corporate Finance and Private Equity, Insolvency, Company Secretarial and Compliance.

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Previously, she was an Associate at The New Practice (TNP) where she was responsible for advising companies, entrepreneurs and sponsors in various sectors including oil and gas, FMCG and renewable energy. Zainab was very instrumental to the team that advised on Nigeria's first Guaranteed Infrastructure Bond Issuance, Viathan Funding Plc's N50 Billion senior guaranteed Bond Issuance Programme.

She holds membership in a number of bodies and organizations such as; Business Recovery and Insolvency Practitioners of Nigeria (BRIPAN); The Chartered Institute of Arbitrators (Nigeria Branch), Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).

ZULEI MOMODU COMPANY SECRETARY, WESTFIELD ENERGY RESOURCES LIMITED

Zulei Momodu is the Company Secretary at Westfield Energy Resources Limited, one of Nigeria's leading companies in the onshore and offshore oil and gas industry. She joined Westfield Energy Resources Limited in July 2018 as Head of Legal and Contracts before rising to her current position of Company Secretary.

Prior to joining Westfield Energy Resources Limited, she was an Associate at Aelex, a Leading Commercial & Dispute Resolution Law Firm and one of the largest fullservice law firms in Nigeria, and Ghana. While at Aelex, her practice areas include; Energy, Corporate/Commercial, Intellectual Property and Infrastructure Development. Zulei also spent some time at Sofunde Osakwe

Ogundipe & Belgore as an Associate and Vodafone as a Business and Compliance Advisor.

At Westfield Energy Resources Limited, she provides legal and commercial advice and delivers technical know-how; analyses transactions; drafts, reviews and negotiates commercial oil and gas contracts; as well as assessing a broad range of issues from a legal, compliance and regulatory perspective. She also leads the team at negotiations with international oil companies (IOCs), manages the external counsel portfolio and provides legal advice to management and various business units within the organisation.

She was recognized by the IFLR in its 31st edition (2021) as a “Rising Star in the Capital Markets” practice area.

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THE WINNERS 2020/2021

OLUWATOBI KADIRI COMPANY SECRETARY & ADVISER, AVON HMO

Oluwatobi Kadiri is an experienced legal professional with over 5 years' worth of experience under her belt.

She is the current Company Secretary and Legal Adviser at Avon HMO where she is responsible for all regulatory and compliance issues and activities within the organization and also provides legal advisory services to the management of the company. She is a Corporate Law expert with a demonstrated history of working in the Legal Services Industry. She is also skilled in Capital Markets, Corporate and Finance Law. Prior to joining Avon HMO as the Company Secretary and Legal Adviser, she had previously served for over 2 years at Platform Capital Investment Partners where she rose through the ranks as a Legal Associate to become the Company Secretary and Head of Legal. She also had a brief stint as an Associate at Tokunbo Orimobi LP from February 2017 to March 2018.

Upon completing the compulsory National Youth Service Corps (NYSC), she commenced her career as an Associate in the Transactions Practice department of Tokunbo Orimobi LP. In her first year of joining the firm, she acted as principal counsel where she was involved in

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some high value deals and transactions such as: she advised and prepared all necessary legal documents for the N600, 000,000 (Six Hundred Million Naira) capital raise for the financing of the development and construction of a multi-level car park, event centre, gymnasium and restaurant in central Lagos, she was also a key member of the team that acted as Solicitor to the Issuer for a capital raise by a Microfinance Bank through the issuance of bonds of an aggregate amount of N20,000,000,000 (Twenty Billion Naira), she was a key member of the team that advised a vegetable oil refinery on the proposed equity investment of N7,200,000,000 (Seven Billion, Two Hundred Million Naira) by a Private Equity Fund.

Oluwatobi Kadiri is a graduate of University of Lagos where she bagged her Bachelor of Laws (LL. B) degree and a member of the Chartered Institute of Arbitrators, Nigeria branch.

She is also a member of the Nigerian Bar Association.

ALMA KARIBO ASSOCIATE GENERAL COUNSEL, 54GENE INC

Alma leads the Compliance Program at 54Gene Inc. driving the company's efforts and commitment to uphold the highest level of ethical standards in line with applicable compliance regulations.

She is also leading 54gene's compliance with data regulations.

Alma has a keen interest in both areas of practice because compliance for her is an all round very essential subject matter that affects not just business productivity but also business continuity. Alma Karibo is trained as a privacy professional with expertise in European data protection laws and has contributed this knowledge in the review of the Nigerian Data Protection Regulation and proposed Act; and contribution to the implementation of policies by the National Information Technology Development Agency. She has also participated in awareness campaigns promoting information privacy. Alma Karibo is also a member of the Berkeley Global Society, an alumni association of the University of California, Berkeley Law, aimed at unlocking intelligence and human capital as well as promoting legal accessibility on a global scale.

Alma obtained the sought after Certified Information Privacy Professional Europe (CIPP/E) qualification with in depth knowledge on the GDPR and European data protection laws from the International Association of Privacy Professionals (IAPP).

She graduated with an LLM from the University of California Berkeley Law School with Certificate of Specializations in Business Law and IP & Technology Law in 2019.

Called to the Nigerian Bar in 2010. Practiced Immigration and Employment Law and Litigation. Carried on practice also in Trademarks and Copyrights in Nigeria. She also carried on legal practice and provided legal advice in the Music Business and digital media sector.

Before her current role, Alma worked as Head of Legal/Company Secretary in the Oil & Gas/Energy sector and also managed an Oil & Gas brokering firm and is a member of the Association of International Petroleum Negotiators (AIPN).

Alma is a Certified Child Care and Development Administrator and volunteers with a not for profit organisation “Slum 2 School” set up in Nigeria.

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THE WINNERS 2020/2021

OKECHUKWU OKORO PARTNER, G. ELIAS & CO

Okechukwu Okoro is an experienced legal professional with over 10 years' experience in the legal field. He has extensive corporate and commercial law experience cutting across project finance, labour, employment and industrial relations, immigration and commercial dispute resolution (Litigation, Arbitration and ADR).

Currently, he is a Partner at G. Elias & Co where he has over the years advised on several local and cross-boundary electricity and oil and gas deals. Prior to becoming a Partner at G. Elias & Co, he was a Senior Associate and Team Lead Energy Practice Group and an Associate at the Law Firm. He was also an Associate at Steve Adehi & Co. and Counsel at A.A. Mu'Alimu & Co./Rhema Law House.

Okechukwu's practice focuses on electricity, oil and gas, banking and finance, labour, employment and industrial relations, immigration and dispute resolution. He has advised both public and private sector clients on several large, significant and complex transactions across several sectors including electricity, oil and gas, finance and agriculture. has over the years advised on several local and cross-boundary electricity and oil and gas deals.

Okechukwu Okoro holds a Master of Laws (LLM) degree from Bayero University, Bachelor of Laws (LLB) from Ebonyi State University and he is a member of the Nigerian Bar Association.

EMMANUEL OHIRI CORPORATE COUNSEL REST OF AFRICA LEGAL, UBA GROUP

Mr Emmanuel Ohiri is currently with UBA Group as the Corporate Counsel Rest of Africa Legal. Before joining UBA Group he was the Head of Legal Foreign Subsidiaries at the Guaranteed Trust Bank.

He graduated with a Second Class Honours (Upper Division) in Law from the prestigious University of Lagos in 2013. Some of his achievements as a student are: President and Vice President of the Moot Society, Faculty of Law of the University; participant and Top Ten Best Memorials at the 22nd All African Moot Court Competition, University of Pretoria; the founder of Ohiri Tutorial for law students; the pioneer member of the Young African Research Arena (YARA); and Chairman Steering Committee, 2nd Chief Wole Olaonipekun Moot Court Competition. He acquired his Bachelor at Laws (BL) at the Nigerian Law School in 2014 and his Masters in Business Administration – MBA, Banking, Corporate, Finance and Securities Law from University of South Wales in 2020.

He began his legal career as a Paralegal at F.O Akindele & Co. within September and November 2011, then as a Research Associate at Brandsmith Consulting in October and November 2013, Paralegal at Kunle Sofola & Co. in June and July 2014,

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Associate at The New Practice (TNP) in December 2014 to February 2017, Legal Practitioner at Oando Plc in June to September 2017, Head of Business Development at Stark Legal between August 2017 to December 2018, Senior Legal Analyst at Condros Capital Limited within January 2019 and April 2020, until he got appointment at Guaranty Trust Bank as a Corporate Legal Counsel.

He got certified in the following; Regulatory Technology Foundation Class issued by the Nigerian Stock Exchange in 2019, Financial Markets by Cousera in 2016, Fundamentals of Quantitative Modeling by the Wharton School. He also volunteered as an Assistant Litigation Officer at Nigerian Legal Aid. He held a position of Head of Research, at the Law Publishing & Conference Services Limited between the year 2017 to 2019, where he led the Editorial and Publications team responsible for publishing three (3) books covering the Oil and Gas Sector written by Dr. Emmanuel Ibe Kachikwu.

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THE WINNERS 2020/2021

ELIZABETH UBA-ONUGOGU COMPANY SECRETARY/HEAD, GROUP LEGAL SERVICES, INVESTMENT ONE FINANCIAL SERVICES LIMITED

A consummate and commercially savvy General Counsel, Governance Professional and Company Secretary, assisting businesses clarify their strategic objectives by implementing structures and processes to help them run efficiently.

With over a decade's experience in corporate/commercial law, corporate governance, company secretarial practice, regulatory compliance, project/corporate finance and capital market transactions.

She is able to transform inhouse legal teams from being cost centres to value providers.

In her role as company Secretary, Elizabeth has strengthened Corporate Governance practices within the Group through the

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development of Policy documents and Guidelines and refreshing the activities of the Nomination and Governance Committee of each Committee.

Elizabeth's approach to legal service is the provision of solutions to business challenges within the ambit of the law. She is a firm believer that the Legal department should act as an enabler and not an obstacle to the business this means taking an interest in the business operations of clients, making deliberate efforts to understand the organization's internal business processes, its strategic objectives, how it generates its revenue, its value proposition, its key competitors, its financial performance and every other thing in between.

TOLULOPE OMOLEYE OSINDERO HEAD OF LEGAL & COMPLIANCE, BRANCH INTERNATIONAL

Tolulope is a Corporate Law and Corporate Finance professional with over 12 years' experience under her belt in the legal space.

Currently, she is the Head of Legal and Compliance at Branch International where she is tasked with the responsibility of managing and overseeing all legal and compliance activities within the organization. Tolulope leads the team that advises major private equity investment funds, crowd funding and debt financing.

Before joining Branch International, she was a Senior Associate at Udo Udoma and Belo-Osagie's Banking and Finance team with a focus on fintech, corporate finance, syndicated lending, secured transactions, trade finance, structured finance and project

finance.

Apart from Corporate Law and Corporate Finance, Tolulope Omoleye-Osindero is highly skilled in other areas of law such as Legal Advice, Private Equity, Commercial and Investment Banking, International Finance, etc Tolulope facilitated trainings for young lawyers under the ELEVAT Programme in 2019 and 2020. She also facilitated several trainings and presentations to corporate organisations, Startups, accelerators. She is a contributor to the ICLG Fintech Guide for Nigeria 2016-2019 and also World Bank Women, Business and the Law Publication 2015

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THE WINNERS 2020/2021 Adeola Agunbiade-Adeyemi is a Senior Associate in the Litigation and ADR Practice group of Banwo & Ighodalo, a foremost commercial law firm in Nigeria.

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he has over the years been regularly engaged as a dispute resolution practitioner in resolution of complex domestic and cross-border disputes covering different industry sectors such as energy and natural resources, infrastructure projects, telecommunications, fast moving consumer goods, internet commerce etc. and diverse subject matters including shareholders’ disputes and shareholders’ minority protection actions, post acquisitions/divestments disputes, regulatory infractions, employment disputes etc.

Adeola has advised sophisticated commercial clients through the entire dispute resolution cycle i.e. from commencement of proceedings to judgments/awards and enforcements. Recently, she successfully acted for a notable indigenous oil exploration and production company in respect of a dispute (giving rise to several arbitration and litigation matters) pertaining to the funding and operation of a marginal field. She also represented the Zambian affiliate of one of Africa’s most diversified business conglomerates in arbitration proceedings conducted in Nigeria under the Nigerian Arbitration and Conciliation Act with respect to a combined claim and counter-

claim of approximately USD6,500,000. Relatedly, she is currently representing the Zambian affiliate before the Nigerian Court of Appeal in challenge proceedings with respect to certain parts of the final award.

Some of the other matters that Adeola has advised on in recent times include: Being a key member of the team representing a Nigerian subsidiary of one of largest global International Oil Company(“IOC”) in an employment dispute between the IOC and a large group of the IOC’s former employees; Being a key member of the team representing the Nigerian subsidiary of the sixth largest pharmaceutical company in the world and its former employees in an employment dispute arising from a divestment transaction; Successfully defended a Nigerian Subsidiary of one of the world’s largest oil companies in a domestic arbitration initiated by one of its suppliers in connection with purported breach of a contract for provision of catering and housekeeping services on a floating production storage and offloading vessel; Provided legal advisory services to a foremost Nigerian construction

company with respect to recovery of payments duly certified by the Owner’s representatives. Subsequently acted for the stated construction company on the appointment and jurisdiction of Centre for Effective Dispute Resolution-appointed adjudicators and in subsequent London Court of International Arbitration proceedings with respect to a multi-million euros claim by the construction company against the owner.

A key member of the team that acted for the former shareholders of a leading digital media advertising company in a post-acquisition dispute between the former shareholders and purchaser.

The dispute birthed series of litigation and arbitration proceedings.

tors UK (Nigerian branch) and an alumni of University of Toronto. During her time at University of Toronto, she was a recipient of the prestigious scholarship by the Centre for International Governance Innovation(CIGI) and had a residency at CIGI where she focused on the emerging crisis in the Investor-State Dispute Settlement system particularly mitigating options in view of the tensions between sovereign right to regulate vis-à-vis protection of foreign investments.

Adeola is also passionate about writing and speaking on a wide range of legal issues. Her articles have been published in reputable Law reviews and journals and she regularly presents at international and domestic conferences and workshops.

She is a founding member and director of the African Construction Law (a PanAfrican initiative set up by construction law practitioners across Africa and in the diaspora to promote thought leadership in the field of construction law and practice in Africa). She is a member of the Chartered Institute of Arbitra

ADEOLA AGUNBIADE - ADEYEMI SENIOR ASSOCIATE, BANWO & IGHODALO

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THE WINNERS 2020/2021 Ijezie heads the Legal Department of Neimeth International Pharmaceuticals Plc (“Neimeth”) and a member of Neimeth Executive Management. Ijezie graduated from Madonna University, Okija Anambra State where he received his Bachelor of Laws Degree (LL.B) and also emerged as the best graduating student in the Faculty of Law, 2010.

H

e then proceeded to the Nigeria Law School in 2010 and was subsequently called to the Nigerian Bar. Before joining Nei meth, Ijezie worked w ith Matrix Solicitors LP and Tier 1 Law Firm – Aluko & Oyebode where he garnered vast practical experience of Nigeria Law and Practice.

Ijezie obtained his Master of Laws Degree (LL.M) at University of Lagos and he is a member of Nigerian Bar Association (NBA), African Bar Associatio n and Young African Leaders Initiativ e (YALI).

Ijezie stands out for his critical legal reasoning, ability to analyse complex legal issues, his provision of practical legal solutions and quest for excellence. He was in the team that advised and/or represented several

corporate and government bodies in matters relating to Dispute Resolution, Corporate Law and Practise, Commercial Transaction and compliance, Government, Policy Advisory, Employment and Labour. He was in the team that advised and/or represented a leading oil exploration company with respect to arbitration proceedings relating to Production Sharing Contract and the enforcement of Awards in Nigeria Courts.

He was also in the team that represented petroleum development companies on tax disputes. Ijezie also advised and actively lead the dispute resolution and worldwide enforcement of court injunctions and awards relating to the Zungeru Hydro Electric Power Project in Niger State and the financing agreement from ExportImport Bank of China.

Currently, Ijezie is heading the Legal Department where his job function cuts across strategy development, risk management, regulatory compliance, business and legal advisory to both Management and Board of Directors of Neimeth. This has led to significant mitigation of liability to Neimeth and improved productivity.

IJEZIE EMEDOSI HEAD OF LEGAL, NEIMETH INTERNATIONAL PHARMACEUTICALS PLC

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Chukwuma is an attorney, with considerable experience in Technology Transactions, E merging and H igh G rowth C ompanies, Innovation, Impact Investing, and Products.

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s the Head of Legal, he represents Helium Health at stakeholder engagements, manages the legal framework for the overall data strategy of the organization, leads negotiations with respect to investments and shared value offerings involving several states in Nigeria, creates frameworks for legal strategy to aid expansion into new markets, works with the office of the COO and finance to guard against investment risks.

In his experience in this field, he continues to counsel companies across industries interested in innovation, leveraging technology, and scaling to drive growth; including VC backed tech (Fintech, Edutech, Legaltech, Healthtech, Life Sciences, and

Agritech) companies on a range of subjects. Also, he has at different times led diverse teams, creating solutions and processes that enhance service delivery to clients.

Chukwuma has been recognized by the World Bank for his contributions to Nigeria's ease of doing business program, working through policies and legislations that shape and foster innovation in Nigeria.

@scalemyustle. As a huge promoter of knowledge sharing, he mentors young lawyers and persons who are keen on making “cool” stuff out of their careers.

He was recognized by the World Bank Group for contributions to the “Doing Business 2019- Training to Reform” report, comparing

business regulations in several jurisdictions. He was also recognized by the World Bank Group for contributions to the “Doing Business 2018 – Reforming to Create Jobs” report, comparing business regulations in 190 countries.

He is an Arbitrator, licensed by the Chartered Institute of Arbitrators (UK) and obtained his Masters of Law (LL.M) in Law, Technology and Entrepreneurship from the Cornell Law School, Cornell University.

He is a one-time LCA-YAN Events Director and a CoFacilitator at “Start-Up Lawyering” organized by

CHUKWUMA OKOROAFOR HEAD OF LEGAL, HELIUM HEALTH

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THE WINNERS 2020/2021

Folajinmi is an experienced and seasoned legal professional with over 12 years' experience in the legal space.

Currently, he is a Senior Manager PricewaterhouseCoopers (PwC) Nigeria where he leads the Tax Controversy & Dispute Resolution Team. He represents businesses and the organised private sector by advocating for fair and favourable fiscal and tax regimes. Folajinmi also works with governments (Federal and State) to come up with sustainable fiscal and tax policies.

In his current role as Senior Manager at PwC, he was responsible for different legal accomplishments such as: helping the Federal Inland Revenue Service (FIRS) draft the first Nigerian Transfer Pricing Regulations, advising the Ministry of Finance as a member of the sub-Ministerial Committee (Legal) to design the legal framework for Nigeria's first tax amnesty – Voluntary Asset and Income

Declaration Scheme (VAIDS), setting judicial precedent by successfully representing an international brewery against a State tax authority before the Tax Appeal Tribunal which held that gratuities paid to employees are tax exempt and should not be subject to tax, engaging the FIRS on setting up an Alternative Dispute Resolution mechanism (Mediation) to help the government settle tax disputes early and collect taxes earlier than when the dispute ends up being litigated.

Litigation and Alternative Dispute Resolution (particularly mediation and conciliation) practice. During his time at Taiwo Oyetibo & Co., he represented the Lagos State Government during an industrial action by medical doctors. He was also involved with lots of Advisory and Research activities at the firm.

holds a Master of Laws (LLM) degree from Queen Mary, University of London and he has an Advanced Diploma in International Tax from the Chartered Institute of Taxation (CIOT). He is a member of the Institute of Company Secretaries and Administrators, UK.

Folajinmi Olamide Akinla

In the past, he had also held other roles at PwC Nigeria such as; Consultant, Assistant Manager and Manager. Prior to joining PriceWaterhouseCoopers, he was an Associate at Taiwo Oyetibo & Co where he was involved with the firm's

FOLAJIMI OLAMIDE AKINLA SENIOR MANAGER, PWC NIGERIA

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THE

EDITORS' MERIT AWARDS

The Editor’s Merit Award seeks to recognize and celebrate exceptional individuals who have done tremendously well to distinguish themselves in their chosen fields of profession both in the Public and Private sector. This year’s recipients include: serving governors, Heads of government parastatals and agencies, CEOs, Legal Luminaries, amongst others.

NIGERIAN LEGAL

AWARDS 2021

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LEADERSHIP & GOOD GOVERNANCE IN AFRICA AWARD Rivers state under the leadership of His Excellency, Mr. Nyesom Wike CON has experienced massive infrastructural and developmental growth through numerous projects which have been executed in various areas in the state.

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rom his assumption into office till date, over 10 major projects have been commissioned and several others which are still under construction.

These projects cuts across all the major sectors of the state's economy which includes Health, Sports and Youth empowerment, Education, Agriculture, Infrastructures amongst others.

His administration's contribution to the development of Education in Rivers state is very commendable through the

numerous educational reforms. Some of these reforms includes; declaration of free public primary and secondary education, free registration for participating locals of the state in the annual JAMB examination, creation of Real Madrid Football academy to combine education and football.

In the Health sector, tremendous work has been done to ensure the people of Rivers State have access to quality health care. The Mother and Child Hospital is ready for commissioning

and the Braithwaite Memorial Hospital (popularly known as BMH) was upgraded, completely equipped and converted to the Rivers State University Teaching Hospital, which is not only reckoned as one the best in the country, but has gotten accreditation by the Medical and Dental Council of Nigeria, for specialist programmes and the training of medical students.

To stop medical tourism, the Rivers State Government has approved contract for the construction of Sir Dr Peter Odili Cancer and Cardiovascular Diagnostic and Treatment Centre that will be completed and furnished within 14 months.

Gov. Wike impact was also felt in the Legal sector as his administration was responsible for the construction and commissioning of a 1,500 sitting capacity auditorium and two 900-bed spaces of male and female hostels for the Port-Harcourt Campus of the Nigerian Law School.

This noble contribution to Legal Education by His Excellency is not only laudable but will also help

to reduce the number of law students who ordinarily will not have the opportunity of going to law school at the time they finish their law programme at the university, it will improve the economy of the State and help to create employment for the people.

Beyond the ongoing massive infrastructural development and various project commissioning which continue to attract the attention and presence of eminent leaders across the federation, Gov. Nyesom Wike has positively impacted all sectors of the state's economy while revolutions in the Health, Agricultural and Education sectors, the strings of flyovers scattered all over strategic points in Port Harcourt to decongest a seemingly insurmountable traffic situation are a clear attestation to what visionary and people-oriented leadership can do.

In view of these achievements, the Editor's Merit Award for LEADERSHIP AND GOOD GOVERNANCE IN AFRICA will be conferred on His Excellency, Mr. Nyesom Wike CON in honour of his contributions and achievements in Rivers state.

His Excellency, Mr. Nyesom Wike, CON

Governor of Rivers state.

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LEADERSHIP & GOOD GOVERNANCE IN AFRICA AWARD His Excellency, Mr. Oluwarotimi Akeredolu, SAN has contributed immensely to the development and transformation of Ondo state through numerous developmental projects and creation of appropriate legislative framework for Ondo state.

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nder his leadership, four key legislations were enacted and signed into law in the area of Public Finance Management by His Excellency to ensure prudency, accountability, transparency and block leakages which will enhance good governance in the state. These legislations which include; Ondo State Public Finance Management Law, Ondo State Fiscal Responsibility Law, Ondo State Public Procurement Law, and Ondo State Public Audit Law have proved to be vital and key to the inclusion of Ondo State as one of the beneficiaries of the performance –based grant component of the World Bank-assisted States Fiscal Transparency and Accountability and Sustainability (SFTAS) programme.

Also, in his tenure, Ondo state experienced rapid advancement of human capital and infrastructural developments which are evident through the various projects that were executed to industrialize the state.

The drive to industrialize Ondo state has led to the state recording sustainable growth in its monthly IGR since 2017 and as of January 2020, the total IGR of the state has increased from N700 million to N2 billion within 3 years of assumption into office.

Education Board (SUBEB); top quality tractors were given out to farmers at 30% subsidy; about 1,500 hectares of land across the State were cleared for the benefit of farmers and the youths who are ready to utilize it; construction of 100,000 capacity poultry pens; amongst others.

Merit Award for LEADERSHIP AND GOOD GOVERNANCE IN AFRICA will be conferred on His Excellency, Mr. Oluwarotimi Akeredolu, SAN in honour of his contributions and achievements in Ondo state.

In view of these achievements, the Editor's

Other Sectors of Ondo State such as Education, Health and Agriculture have also received appreciable boost from His Excellency's administration. The administration has renovated, rebuilt or constructed almost 800 primary schools through the State Universal Basic

His Excellency, Mr. Oluwarotimi Akeredolu, SAN

Governor of Ondo state.

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LIFE-TIME ACHIEVEMENT AWARD When it comes to legal luminaries with renowned expertise in general litigation, property law litigation and oil compensation claims in Nigeria, it won't take much effort before the name OCJ Okocha, SAN, MFR comes up. OCJ, as he is fondly called, was the former president of the Nigerian Bar Association and the former Attorney General and Commissioner of Justice of Rivers state.

H

e is also the founder and managing solicitor of Okocha & Okocha, one of the premier law firms in Nigeria boasting over 35 years' experience in the legal space in Nigeria.

OCJ Okocha is a Life Member of the Honourable Body of Benchers (the highest body of excellence in the Legal Profession in Nigeria, which is charged with the statutory responsibility of admitting

Lawyers to the Nigerian Bar) as well as a former member of the National Judicial Council (NJC) and Chairman of the Council of Legal Education.

On top of that he has held many other esteemed positions, too numerous to mention. Just a few of the organizations he has been involved with include the Nigeria Association of Law Students; Nigeria Bar Association; the Disciplinary

Committee of the Nigeria Bar Association; and Rivers State Advisory Council. He also was appointed as a Life Bencher in 2007, was the Chairman of the Order of the Federal Republic of Nigeria and many other honourable titles.

Community was always important to Chief Okocha, and he helped ensure that important structures such as a much-needed bus stop were built and maintained.

He has personally assisted community efforts with his own donations and support, and has become highly respected by all who know of his astounding personal accomplishments.

The Okocha law firm that he established is widely known to be one of the largest in the country. The work that is

carried out there is distinguished and reputable enough to have earned him the title of Senior Advocate of Nigeria, which among the greatest honours anyone in the legal community may be bestowed with. He helped create many new branches of the Nigerian Bar Association and helped bring about a new level of order and discipline to the legal profession within Nigeria.

Due to his achievements, the Editor's Merit Award of LIFETIME ACHIEVEMENT will be conferred on Chief OCJ Okocha, MFR in honour of his contributions to the legal profession in Nigeria.

Chief OCJ Okocha, MFR, SAN

Founder & Managing Solicitor, Okocha & Okocha; Former Chairman, Body of Benchers

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LIFE-TIME ACHIEVEMENT AWARD Mr. Gbenga Oyebode, MFR is one of the founding partners and Chairman, Management Board of Aluko & Oyebode, one of the largest integrated law firms in Nigeria providing a comprehensive range of specialist legal services to a highly diversified clientele including top-tier Nigerian, international and multinational clients.

H

e has been described by IFLR 1000 as one of Nigeria's most prominent lawyers. Gbenga Oyebode, the Co-founder and Chairman of Aluko & Oyebode, holds over 35 years of experience in corporate and commercial practice, and he has been involved in the negotiation of complex commercial agreements for a wide variety of transactions.

Chambers Global has called him a “consummate dealmaker who has received plaudits from clients and peers alike for his corporate expertise.”

With a background that includes an advanced law degree at the University of Pennsylvania, legal experience at the global law firm White & Case LLP in New York City, and an inhouse position at the Gulf Oil Company (later merged with Chevron), Gbenga

possesses a genuine and deep understanding of his clients' needs in every sector and practice area. The same entrepreneurial spirit he brought to the founding of an elite, full-service corporate law firm in Nigeria is the same energy and dynamism he brings to his client matters.

Mr. Oyebode has demonstrated outstanding career achievements with some of the high-profile transactions he has been involved in which includes; advising on the Brass LNG Project, the sale by Exxon Mobil Dil Corporation of its 60 percent equity stake in Mobil Oil Nigeria Plc to Nipco Plc and the US$360 million Lekki Concession Infrastructure Project for the construction of toll roads and bridges in Lagos State which is the first major PPP initiative in Nigeria. He also advised on the US$1.25 billion financings of the

Exxon Mobil Natural Gas Liquid II Project, the US $1.06 billion financings of trains four and five of the Nigerian Liquefied Natural Gas Plant Expansion Project and the development, financing, and implementation of the first Independent Power Plant project in Nigeria.

His immense contributions to the following companies; Nestle Plc, PZ Cussons, Access Bank Plc, Okomu Oil Palm Company, MTN Nigeria Plc, etc. where he has served in various capacities such as Chairman,

Director and Member of the Board cannot go unnoticed.

Most notable of these is his contributions to Education in Nigeria with Teach for Nigeria; an organization that focuses on developing a movement of leaders across the nation who are committed to putting an end to educational inequity.

Due to his achievements, the Editor's Merit Award of LIFETIME ACHIEVEMENT will be conferred on Mr. Gbenga Oyebode, MFR in honour of his contributions to the legal profession in Nigeria.

Mr. Gbenga Oyebode, MFR

Of Counsel & Co-Founder, Aluko & Oyebode

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COMPANY SECRETARY OF THE YEAR AWARD

Mrs. Uto Ukpanah is the Company Secretary of MTN Nigeria Communications PLC (MTN).

She is also responsible for operational governance of MTN Foundation Limited by Guarantee as well as other entities within the MTN Nigeria structure. She coordinated the team that facilitated the successful listing of MTN Nigeria on the Premium Board of the Nigerian Stock Exchange, the first by any company. Prior to joining MTN, Mrs. Ukpanah was the Assistant Company Secretary of United Bank for Africa Plc.

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legal practitioner with over 30 years professional experience, Mrs. Ukpanah is actively involved in the development of corporate governance codes and ethics related guidelines across sectors in Nigeria and globally. Mrs. Ukpanah is a Certified Ethics Officer of the Ethics Institute and University of Stellenbosch, South Africa. Other

professional memberships include the Nigerian Bar Association, International Bar Association as well as the Ethics & Compliance Officers Association, USA.

member particularly through securing corporate sponsorships, serving as a resource person as well as securing resource persons for the Institute's activities.

Mrs. Ukpanah has been supporting the activities of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) for over 20 years; long before she became a

She has been involved engagements across diverse sectors and interests at the National level including the following bodies amongst others; Board, United Nations Global Compact Nigeria Network, Board of Trustees Obong University, Akwa Ibom State Technical Committee on the Nigerian Code of Corporate Governance 2018, Steering Committee on the National Codes of Corporate Governance for the Public, Private and Not for Profit Sectors in Nigeria, Securities & Exchange Commission's Committee on Corporate Governance which reviewed the 2003 Code and drafted the 2011 Code of Corporate

Governance for Public Companies in Nigeria Secretary, Bankers Committee Code of Corporate Governance for Banks and other Financial Institutions (this Committee worked on the corporate governance guidance for the financial services sector that was the foundation for the post-consolidation Code).

In view of these, the Editor's Merit Award of COMPANY SECRETARY OF THE YEAR will be conferred on Mrs. Uto Ukpanah in honour of her achievements and contributions to highest standards in corporate governance and best practices.

Mrs. Uto Ukpanah Company Secretary, MTN Nigeria

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GLOBAL LEGAL ICON AWARD

Mrs. Beatrice Hamza Bassey is the Board Chairman of Union Bank of Nigeria Plc, a position she assumed in December 2019 having joined and served on the Board as a Non-Executive Director in 2015.

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urrently, she is the General Counsel and Chief Compliance Officer at Atlas Mara Co-Nvest Limited. She is a lawyer of great repute with extensive experience in corporate governance and financial institutions, she is an authority in compliance and represents clients globally in compliance and anti-corruption matters.

Mrs. Beatrice Hamza Bassey made history by becoming the first Female, Black, and African Nigerian to be awarded partnership at Hughes Hubbard and Reed LLP, U.S.A – one of the leading and top law firms in the United States. Her giant strides in the legal profession are also astounding where she has exceled and litigated several headline-grabbing cases in the practice of compliance, ethics, complex litigations and corporate governance at Hughes Hubbard and Reed

LLP, U.S.A and Atlas Mara.

Most notable of these cases was the recovery and return of billions of dollars to Lehman Brothers customers in the largest broker-dealer liquidation in the United States.

She has contributed to nonprofit agencies such as Self-Help Africa and Powerplay N.Y.C who are dedicated to the education and empowerment of African women and girls through sports and academic enrichment programs in the rural communities in Africa; Twana Twitu, a Kenyan organization that supports Kenya's AIDS orphans; and the Nigerian Higher Education Foundation, which promotes excellence in higher education in Nigeria. cannot go unnoticed as these noble and enviable acts of yours have gone a long way to help women and AIDS

orphans in Africa achieve economic independence.

Her philanthropic efforts of performing countless hours of pro-bono work on behalf of low-income inhabitants of New York cannot go without praise which she has also received widespread coverage and recognition in major New York publications.

Mrs. Beatrice Hamza Bassey has also contributed to economic advancement across Africa and other parts of the world are also immense through providing

advisory related services related to activities countries such as; Angola, Brazil, China, Gabon, Ghana, Kenya, Nigeria, Panama, Sao Tome and Principe, Sierra Leone, Argentina, Seychelles, South Africa and the United Arab Emirates.

In view of these, the Editor's Merit Award of GLOBAL LEGAL ICON will be conferred on Mrs. Beatrice Hamza Bassey in honour of her contributions and achievements to the Legal profession and to the world at large.

Mrs. Beatrice Hamza Bassey

Board Chairman, Union Bank of Nigeria Plc

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Esq Legal Practice | 55

EXCELLENCE AWARD

Mrs. Ronke Sokefun currently serves as the Board Chairman of the Nigerian Deposit Insurance Corporation (NDIC), a position she assumed in 2019. In this capacity, she has continued to bolster the organization's reputation as a critical player in the Nigerian financial sector with collaborative agreements geared towards achieving global industry standards.

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rior to joining the Corporation as Board Chairman, she served in the Ogun State Government as Commissioner of Agriculture and later Commissioner for Urban and Physical Planning providing strategic leadership and overseeing seamless execution of government policy from 2012 to 2019. Her involvement in governance was kickstarted in 2011 when she served as the Special Adviser/ Director -

General Bureau of Lands & Survey from 2011 to 2012.

Her tenure as Chairman of the Board of NDIC has remarkably been excellent due to the number of projects the agency has executed and commissioned across over 100 different communities in the country such as the construction of a multi-million naira Information Communication Technology centre in Ayetoro area of Ogun State.

Also, under her leadership, the Nigerian Deposit

Insurance Corporation (NDIC) has remitted over N7 billion into the Consolidated Revenue Account (CRF) as its operating surplus since assumption into office.

Before her foray into public service, she gained extensive experience in the private sector rising through the ranks of her profession as a trained lawyer to become a partner at Aluko & Oyebode; a prestigious Nigerian law firm in 2001.

Armed with extensive experience and industry expertise, she went on to become Head Management Services of Ocean & Oil Services in 2002 and Head Legal Services of the Oando Group when it was formed in 2004 rising to the position of Group Chief Legal Officer of the Group in 2007, a position she held until 2011 when she heeded the call of public service.

Several organizations have benefited from her expertise with a notable mention being the Vmobile (now

Airtel) board where she served on the Legal & Regulatory & Finance subcommittee as an alternate director. She is also a member of the Institute of Directors, Nigerian Bar Association and International Bar Association.

Mrs. Ronke Sokefun is a consummate lawyer, Chartered Secretary and Land Administrator. She is a 1987 Law graduate from the Ogun State University (now Olabisi Onabanjo University), She emerged as one of the best in her graduating class as she won two prizes – Jurisprudence & Legal Theory and Commercial Law. In view of these, the Editor's Merit Award of EXCELLENCE will be conferred on Mrs. Ronke Sokefun in honour of her achievements and contributions to the Nigerian Deposit Insurance Corporation and public service.

Mrs. Ronke Sokefun

Chairman of the Board, Nigerian Deposit Insurance Corporation

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BUSINESS LAW ICON AWARD Mr. Adio, SAN is a Director on the Board of Odu'a Investment Company Limited and the Former Chairman of Nigerian Bar Association Section on Business Law (NBA-SBL). He is a Senior Advocate of Nigeria, and the Managing Partner of COPLEY PARTNERS.

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r. Adio has over three decades of experience as a Legal Practitioner including international and domestic.

Notably, before returning to Nigeria, he practiced at the law firm, MINTZ LEVIN, in Boston, Massachusetts, where he achieved the remarkable feat of becoming a Member (Partner) in the Firm. While there, he represented multinational conglomerates and private companies on various matters, including Complex Commercial Litigation; Fiduciary Law and Corporate Governance; Tax Abatement; Public Procurement and Infrastructure Development; Legislative and Regulatory Matters before the United States Congress; and Insurance.

His tenure as the Chairman, NBA-SBL was instrumental in the reforms that was carried out on the

Companies and Allied Matters Act (CAMA), and these reforms have proved to be pivotal in the recent positive changes that has been experienced in the Corporate Affairs Commission (CAC). These reforms in the Companies and Allied Matters Act (CAMA) have also ushered in the ease with which people now do business.

The NBA-SBL under his guidance had given great attention to the Nigerian economy and the role of Nigeria's distinguished bar in tackling head on the declines in GDP and FDIs, and increases in youth unemployment through the numerous pragmatic recommendations suggested and these actionable blueprints may lead to real, sustainable growth for Nigeria and her people.

competitiveness, he was appointed by the President of the Federal Republic of Nigeria as a member of the Presidential Committee on the Impact and Readiness Assessment for the Implementation of the African Continental Free Trade Agreement (AfCFTA).

He has provided commentaries on issues of business, law, and racial diversity to multimedia outfits, including the Associated Press (AP), CBS Marketwatch, Boston Magazine, and BusinessDay

– where he is a Member of the Legal Business Editorial Advisory Board.

Mr. Seni Adio, SAN is active in civic societies, has served as a Trustee on the Boards of various non-profit organizations, and he is a Director in business organizations. He is a proud alumnus of the veritable Igbobi College, Yaba, Lagos, and a recipient of the ICOBA Merit Award.

In view of these achievements, the Editor's Merit Award of BUSINESS LAW ICON will be conferred on Mr. Seni Adio, SAN in honour of his contributions to Business Law in Nigeria.

In recognition of his track record in employing law reform to enhance economic

Mr. Seni Adio, SAN

Former Chairman, Nigerian Bar Association Section on Business Law

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LEGAL AMAZON AWARD

Mrs. Adejoke Layi-Babatunde is the deputy Chief Executive Officer at Lawbreed Limited. She is a director at Lawbreed Foundation, Associate Member of WIMBIZ; Member Board of Governors Supreme Education Foundation; Member of the International Federation of Women Lawyers (FIDA); Member of the Nigerian Bar Association. A Law graduate of University of Ife (now Obafemi Awolowo University), Ile-Ife, Nigeria.

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nterestingly, she had planned to study Medicine and become a medical doctor. Eventually it didn't materialize and she went in for law. She is a strong member of WIMBIZ (a platform where women empower women), she was a strong believer that social media was a toy in the hands of young people, but after a particular conference hosted by WIMBIZ. Mrs. Adejoke LayiBabatunde is a legal practitioner and the Managing Editor of

Judgments of the Supreme Court of Nigeria (simply known as S.C. Reports). The Amazon is also a Member of the Board of Trustees, Concerned Parents and Educators Network (CPE), and, of course, a loyal Member of the Nigerian Bar Association (NBA). Her contributions to the legal profession through mentorship for young lawyers, the Lawbreed Foundation through the 'Time Out with Masters' event, her passion for the next generation, women and children (through FIDA) are

worthy of note.

Mrs Adejoke LayiBabatunde believes very strongly in preparing the next generation, to whom the generational baton will be handed to. She has previously worked at the Legal Department of the Nigerian Industrial Development Bank (NIDB) now Bank of Industry (BOI).

Her hobbies include reading, travelling, writing, cooking and gardening; she is also a lover of young people. She has facilitated and delivered papers at several seminars and training sessions. She is a Christian, a change agent and extremely passionate about the Nigerian project.

Mrs. Adejoke LayiBabatunde can be described as a perfect fusion of beauty and brain. Adejoke is vast on anything and everything

in the legal professional. Her mastery of the English Language more than anything else distinguishes her from her contemporaries, even as her grace, carriage and devotion to her job add up to God's extra and perfect work of human creation.

“I had equally craved the teaching job, because of my strong passion for investing in young minds for a better future. “But then, I'm so pleased and satisfied to have ended up being a member of the noble profession. I enjoy reading a lot but the several adjournments didn't make litigation appealing to me.”

She stated that incessant adjournments could be very frustrating. She recalled how after burning the midnight candle and preparing for a case, she got to court and the matter was adjourned.

That experience, Adejoke says, was the turning point in her life. “It was in 1994/95. I was expecting a baby and was heavily pregnant and had excitedly and painstakingly prepared for a case”, she said. Today, she is fulfilled superintending over the affairs of Lawbreed.

Mrs. Adejoke LayiBabatunde is happily married to Layi Babatunde, SAN, blessed with children, two of whom are already lawyers.

Mrs. Adejoke Layi-Babatunde Executiver Director, Lawbreed

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LEGAL ICON AWARD Y. C Maikyau graduated from Ahmadu Bello University in 1989and attended the Nigerian Law School from 1989 to 1990 and was admitted as Barrister and Solicitor of the Supreme Court of Nigeria in December, 1990. He began my career in Private Law practice with the Law firm of Danladi Bamaiyi and Company, where he rose to become the Head of Chambers.

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e resigned on the 6th of August, 2003 to continue practice under the name of Y. C Maikyau and Company, with offices in Abuja and Sokoto, Nigeria.

On 7th of July 2011, he was conferred with the prestigious rank of Senior Advocate of Nigeria (SAN), by the Legal Practitioners' Privileges Committee and sworn in on the 26th of August, 2011. He obtained Diploma in International Commercial Arbitration, in June 2014 from the Chartered Institute of Arbitrators, London, United Kingdom and he is presently a Fellow of the Institute. Y.C. Maikyau, SAN FCIArb (UK) bags yet an award, as the Intellectual Property Institute for Property (Nigerian) IPIN confers him with Award for Innovation.

Maikyau, SAN, is a courtroom genius, a quintessential bar man and a philanthropist. He is the

chairman of Nigerian Bar Association (welfare committee), he is a strong believer of defending the fundamental human rights of a child where violated and be at the vanguard of prosecuting those that violate them.

He also pushed for an amendment to allow for Independent candidacy, he proposed the amendment of Section 223(1) of the Constitution in the manner that will ensure not less than 1/2 of those to be elected/ appointed into the Executive Committee or other governing bodies of political parties, comprise of youths, women and persons living with disabilities. “The allinclusive constitutional concept of Federal Character must be expanded to accommodate this level of participation of youths, women and persons living with disabilities. I must however add that in all cases, regard must be had to merits and standards,” he

concluded.

Under his leadership, the Welfare Committee of the NBA has unveiled lifetouching schemes including Law Pavilion deals and Medical Insurance schemes under the current administration in the NBA. He was honoured with an “Achiever's Award”. He is an impressive giant advocate, but also because

he has been in the spotlight of some locus classicus litigations in various courts and tribunals, and has been an exceptional arbitrator for decades. The legal luminary was the chief sponsor of the 2021 Abuja Lawyers Football League and he described football as a fertile ground to invest in the unity of Nigeria and urged youths not to despair and abandon the Nigeria project, saying the future of the country resides in their hands.

Mr. Y. C Maikyau SAN Principal Partner

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LEGISLATIVE ICON AWARD

Rt. Hon. Femi Gbajabiamila, the speaker of Nigeria's 9th House of Representatives and Honorable representing Surulere I constituency of Lagos state has done tremendously well especially in the Legislative arm of governance of Nigeria as a country

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is tenure as speaker of Nigeria's 9th House of Representatives has brought about solutions to real life problems in Nigeria's economy through the passing of some bills which includes but not limited to, Electric Power Sector Reform Act (Amendment) Bill; the Physically Challenged (Empowerment) Bill; National Orientation Agency Act (Amendment) Bill; Labour Act (Amendment) Bill; Finance Bill; Students Loan (Access

to Higher Education) Bill; Federal Roads Bill 2019; Public Procurement Act (Amendment) Bill; the Company and Allied Matters Bill and the Emergency Economic Stimulus Bill 2020 etc.

The Speaker's achievements in his constituency (Surulere I of Lagos state) are commendable as he was responsible for laudable projects such as execution of road construction projects, renovation of public schools, construction of modern ICT center etc.

In view of these achievements, the Editor's Merit Award for LEGISLATIVE ICON will be conferred on The Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila in honour of his contributions and achievements the speaker of Nigeria's 9th House of Representatives

and Honorable representing Surulere I constituency of Lagos state.

Rt. Hon. Femi Gbajabiamila

Speaker, House of Representatives

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NIGERIAN LEGAL AWARDS 2021: WHO WON WHAT & WHY

ENERGY AND POWER TEAM OF THE YEAR OLANIWUN AJAYI LP NOMINEES: SOLOLA & AKPANA, G. ELIAS & CO, BLOOMFIELD LAW PRACTICE, OLANIWUN AJAYI LP, AELEX, ALUKO & OYEBODE, ADVOCAAT LAW PRACTICE, UDO UDOMA & BELO-OSAGIE

Olaniwun Ajayi LP advised NLNG on the NLNG Train 7 Financing. The US$3 billion hybrid financing was for the development of NLNG's seventh liquefaction train.

Upon completion of the train, it is expected to boost NLNG's composite nameplate capacity by about 8 million metric tonnes per annum, equivalent to about 34.7% of its current capacity.

The deal won the PFI Africa deal of the year in 2020 Legal Expertise and Innovation Deployed:

tranches, sourced from an eclectic lending group comprising export credit agencies (SACE, Korea Trade Insurance Corporation and Export-Import Bank of Korea), development finance institutions (Africa Finance Corporation and African Export-Import Bank), as well as commercial banks from Nigeria and across the globe.

The deal was innovative, in that, the non-recourse corporate financing approach was the first of its kind in the world for an LNG project, which involved multiple debt

The execution of the finance documents followed on the heels of NLNG's entry into an EPC contract (which Olaniwun Ajayi LP also advised on) with a consor-

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tium comprising leading international firms, Italian Saipem S.p.A., Korean Daewoo Corporation and Japanese Chiyoda Corporation for the execution of the Train 7 project.

Clients Satisfaction It is worth noting that the deal won the PFI Africa deal of the year in 2020 Precedents set

corporate financing approach was the first of its kind in the world for an LNG project, involved multiple debt tranches, sourced from an eclectic lending group comprising export credit agencies (SACE, Korea Trade Insurance Corporation and Export-Import Bank of Korea), development finance institutions (Africa Finance Corporation and African Export-Import Bank), as well as commercial banks from Nigeria and across the globe.

The deal was innovative, in that, the non-recourse Esq Legal Practice | 61

NIGERIAN LEGAL

AWARDS 2021 WINNERS

BANKING & FINANCE TEAM OF THE YEAR ALLIANCE LAW FIRM NOMINEES: OLAJIDE OYEWOLE LLP, SOLOLA & AKPANA, THE NEW PRACTICE (TNP), G. ELIAS & CO, DETAIL COMMERCIAL SOLICITORS, ALLIANCE LAW FIRM, BLOOMFIELD, AELEX, ADVOCAAT LAW PRACTICE, DUALE, OVIA & ALEX-ADEDIPE, ALUKO & OYEBODE, JACKSON, ETTI & EDU, DEAL HQ PARTNERS, UDO UDOMA & BELO-OSAGIE

Alliance Law Firm (ALF) advised an indigenous service company on the financing and technical service arrangement for an OML; the transaction is valued at $1,800,000,000 (One Billion, Eight Hundred Million United States Dollars).

This deal should rank as one of the highest investments in an OML from a Financial and Technical Service Provider within the upstream sector with an eye for ramping up production as well as the infrastructure for that by an indigenous entity. Alliance Law Firm advised the Financial and Technical Service Provider on the Transaction structure, pricing, legal and regulatory advisory. The uniqueness of this transaction involves raising funds in place of the JV cash call obligations of the Sponsors of the OML as well as providing technical services that will revamp the OML for optimization and increased crude oil production.

The COVID-19 pandemic had revealed many weaknesses in the world's major global economies, and its attendant effect is conspicuously visible and cut across several institutions and industries including oil and gas. Crude oil prices had reduced to a

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record low of $22 per barrel and this had revenue impacting effects on the Nigerian economic system. Also, there are reviews of the prices of the premium motor spirit (PMS) or fuel downwards to cushion the rampaging impact of the pandemic on individual and business activities. Although the government has come up with emergency policies to reduce the impact of the disease on the economy.

The deal involves the revamping of an OML so as to boost productivity and enhance the capabilities of the fields as well as gas production so as to meet up with the Domestic Gas Obligations and gas sales.

ALF's client entered into a Funding and Technical Service Arrangements ("FTSA") with the OML JV partners to take over certain roles and responsibilities under a Joint Operating Agreement and to provide the required funding for the project.

Under the FTSA, ALF's client intends to substantially take over the Operatorship of OML, provide all the financing required to develop the OML Oil and Gas reserves and take crude oil production from the current levels to approximately 100kpd within an agreed period.

Legal Expertise and Innovation Deployed The deal is quite innovative as it required the Alliance Law Firm Team (Joint mandate with Banwo & Ighodalo) to advise the Financial and Technical Service Provider on the Transaction structure, pricing, legal and regulatory advisory.

The uniqueness of this transaction involves raising funds in place of the JV cash call obligations of the Sponsors of the OML as well as providing technical services that will revamp the OML for optimization and increased crude oil production. Considering the low appetite and the

high-interest rate on syndicated/bilateral loans from the bank, a funding arrangement was arranged with a Crude Bulk Trader to agree to provide funds to their client on one hand; The client of Alliance Law Firm, on the other hand, had to enter into different layers of agreements with the JV Partners to grant it full Operatorship for a period of time as well as enter into a Forward Sale Arrangements for the total crude production with the JV Partners to the Bulk Trader as the off-taker.

Layers of agreements and legal constructs were entered into with a view to protecting the Borrower's interests from the JV Partners; waivers and consents had to be obtained from existing lenders of one of the JV Partners to enable it to forward sale its already encumbered portion of the Crude to be produced from the OML; the concerns of the other JV Partner had to be addressed as well with assurances that the assets of the OML are protected from the Lenders while ensuring that the Lenders' requirements are met to enable the Borrower access the facilities for its intended purpose. The interplay of commercial issues, policies and

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legal in this transaction was assurance of legal services quite novel as it was a win – provided by the Firm to clients win for all the parties involved. is a priority to its Board of partners. As a result, work done or delivered to clients Clients Satisfaction will always serve as a reflection of the Firm's mission Alliance Law Firm is reputed which is to provide optimal to deliver optimal legal legal service professionally services to clients. Quality leveraging skilled workforce

NIGERIAN LEGAL

AWARDS 2021 WINNERS

and technology. This consistent standard of quality assurance has found deep meaning with the Firm's clients and sustained relationships.

Precedents set

the highest investments in an OML from a Financial and Technical Service Provider within the upstream sector with an eye for ramping up production as well as the infrastructure for that by an indigenous entity.

This deal should rank as one of

DISPUTE RESOLUTION TEAM OF THE YEAR ALLIANCE LAW FIRM

NOMINEES: BRIDGEFORTE ATTORNEYS, OLAJIDE OYEWOLE LLP, SOLOLA & AKPANA, THE NEW PRACTICE (TNP), STARK LEGAL, STRACHAN PARTNERS, AELEX, ALLIANCE LAW FIRM, BLOOMFIELD LAW PRACTICE, ALUKO & OYEBODE, G. ELIAS & CO, OLANIWUN AJAYI LP, WOLE OLANIPEKUN & CO, BABALAKIN & CO, JACKSON, ETTI & EDU.

The Alliance Law Firm team was instructed to represent the Securities and Exchange Commission in the case of SECURITIES AND EXCHANGE COMMISSION V. BIG TREAT PLC & ORS.

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his case set up a number of precedents including the fact that all Public/Public Quoted Companies in Nigeria and doing business in Nigeria shall be regulated and governed by the Securities and Exchange Commission which is the apex regulatory body in this regard.

view to protecting investors.

The decision reiterated that all issuers of securities, having been duly registered with the Securities and Exchange Commission (SEC) and were at all material times performing the specific function of issuing securities in the capital market, were subject to the intervention of the statutory powers of the Securities and Exchange Commission (SEC) as the pinnacle regulatory authority This is a novel and watershed for the Nigerian capital market decision which has changed whose sole purpose is to the face of capital market ensure the protection of regulation and investors investors and to maintain fair, protection in Nigeria. It also efficient and transparent gives potency to the powers of capital market as well as SEC to ensure that boards and reduce systemic risks as stated managements of public and in the preamble of the quoted companies are Investment and Securities Act. monitored, controlled and This is a clear departure from sanctioned, where necessary, the Federal High Court's in the interest of protecting earlier ruling to the effect that innocent investors. If not for issuers of securities (quoted this decision, the effectiveness companies) are not Capital of SEC as an apex regulator of market operators and its board the capital market and key cannot be removed by SEC in players like the public and the manner it did in the instant quoted companies would have case. This is a landmark been significantly eroded. decision and has been reported in the Nigeria Weekly Law This Case was innovative and a Report (NWLR) as SEC V BIG groundbreaking precedent as TREAT (2020)5 NWLR PT the Court of Appeal for the (1718) PG 502. It has been first time ruled that the consistently relied on by SEC Securities and Exchange as the apex Capital Market Commission is to intervene in Regulator in its subsequent the management and control of oversight of quoted companies any public company, which is including the notorious considered to have failed, is suspension of key directors of failing or is in crises, with a Oando Plc in 2019.

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Legal Expertise and Innovation Deployed: An Appeal arose from the Order of the Federal High Court which held that public quoted companies are not capital market operators (such as Issuing Houses, Stock Brokers, Registrars), not being directly involved in the processes for issuance of securities and therefore not amenable to the control and management directives of its board and management by SEC. The appellant among other things raised an issue "whether the lower court was right when it held that the 1st Respondent (Big Treat Plc) is not a capital market operator because it does not play any specific role in the capital market, and as such, not registerable or subject to the control of the Appellant (the Commission)."

SEC's powers as the apex regulator for all public and quoted companies (in similar ways as the CBN controls the banks).

Clients Satisfaction The outstanding performance of Alliance Law Firm on some matters result in referrals and premium consideration for more professional engagements.

Precedents set The Alliance Law Firm team was able to set a number of precedents including the fact that all Public/Public Quoted Companies in Nigeria and doing business in Nigeria shall be regulated and governed by the Securities and Exchange Commission which is the apex regulatory body in this regard.

In the firm's submission, they referred the Appellate Court to the specific provisions of the Investment and Securities Act, 2007, including Sections 13, 54(1), (5), 60, 61 and 65; after which the Court of Appeal upon the careful consideration of the firm's arguments in the appeal allowed their appeal and set aside the decision of the Federal High Court to the contrary; thereby affirming

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THE WINNERS 2020/2021

NIGERIAN LEGAL

AWARDS 2021 WINNERS

AVIATION TEAM OF THE YEAR G. ELIAS & CO. NOMINEES: G. ELIAS & CO., ALUKO & OYEBODE, BLOOMFIELD LAW PRACTICE

The G. Elias & Co. is currently engaged to advise Asset Management Corporation of Nigeria (“AMCON”) on its divestment from Arik Air Limited (In Receivership), a Nigerian airline (once considered too big to fail) with a market share of above 40%.

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n a bid to revive the once-largest airline in Nigeria, AMCON had purchased the eligible bank assets of various bank creditors of Arik; and advanced further loans to Arik. AMCON had, sometime in 2016, appointed a receiver over all of the assets of Arik. As part of a syndicate of legal, financial and technical advisers, the G. Elias & Co. team’s scope of work involves legal advisory on the most appropriate, tax efficient divestment strategy.

Relevance to the Nigerian Economy The air transport industry has become one of the major contributors to the growth and development of the Nigerian economy. Recognizing the need for the proactive sustenance of economic development, AMCON decided to divest from the Arik Air Limited. This has

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With a view to preserving the value of the assets and ringfencing them for future legal action, the team also effectively advised and implemented a transfer of the become the largest insolA key innovation was the aircraft assets to a liabilityvency in Nigeria’s aviation structuring of the transaction free assignee, using the most space. In particular, the to maximize the value of the efficient tax structure. assets recovered; and tax divestment from Arik Air Limited by AMCON will not efficiency. This transaction Precedents set only impact on commercial tests the very novel and disruptive provisions of the and financial practice but newly amended AMCON also on possible future This transaction carried out Act, 2010. developments and trends. by the team is the largest aviation insolvency in Legal Expertise and Innovation This transaction has led them Nigeria. This transaction will act as precedent for future Deployed to cut through issues relating insolvency proceedings in to the enforcement of the the sector. The transaction security under Nigerian law, The AMCON Amendment was structured to ensure that receivership, and the length Act devised uncommon the assets purchased with the recovery powers to AMCON and breadth of AMCON’s eligible bank assets are allowing it to proceed against recovery powers. This efficiently recovered and transaction was structured to assets irrespective of other utilized. Their deal structure effectively carry out a limitations under general is aimed at maximizing constructive hive-down of law. As transaction counsel, AMCON’s recovery and the creditor’s assets. HiveG. Elias & Co. team naviinsolvency powers within the downs are very rare in the gated through all the issues limits of applicable laws in market. relating to AMCON’s Nigeria. insolvency powers with a view to avoiding or restrict- Clients Satisfaction ing the occurrence of future legal challenges. They also ensured the transaction does The G. Elias & Co. team’s advisory work helped in not impact the smooth assisting the client to safely operation of Arik Airline. recover its aircraft assets.

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SHIPPING & MARITIME TEAM OF THE YEAR G. ELIAS & CO. NOMINEES: ALUKO & OYEBODE, G. ELIAS CO, BLOOMFIELD LP

G. Elias & Co. advised the Lagos State Government on the transaction involving the development, construction and financing of the 27.5km “Red Line” of the Lagos Metro Rail Transit. It is set to be the first “metro” to be operational in Nigeria and the most economically viable metro in the nation.

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he Red line is projected to carry significantly more than a million passengers daily and to transform mass transit in metropolitan Lagos, which is today Nigeria's largest economy and Africa's 5th largest economy.

The Lagos Rail Mass Transit is an urban rail system being developed and under construction in Lagos State.

The system will be managed and regulated by the Lagos Metropolitan Area Transport Authority (LAMATA) and the

Federal railways regulator and is envisioned to consist eventually of seven lines.

When completed, it will ease transportation of Lagos State and its environs' commuters.

Legal Expertise and Innovation Deployed: The firm successfully advised the Client on the financing, construction as well as concessioning of the Transaction. They were also able to introduce a workable structure into the transaction in order to make it realizable and overcome existing legal and regulatory impediments. They

facilities of the firm enabled them to meet with clients and to maintain excellent services.

Clients Satisfaction In the client's capacity as the 3rd largest economy in Africa, this transaction was key in improving mobility within the navigated issues around town. They have been able to sovereign immunity, World constantly develop a suitable Bank negative pledge and public procurement laws, and structure for every transaction and also, efficiently and at same time ensuring proper timeously deliver quality compliance with applicable services to the client. laws and regulations governing the Transaction.

Precedents set The transaction kicked off The firm's exceptional during Covid-19 pandemic Telecommunications, Media & and the firm employed the Technology Team was relevant technology and recognised by Global Law technical know-how, in Expert, Corporate Intl Global communicating with the and has also consistently been Client. For instance, all nominated and won in the year meetings with the Client were 2017, 2018, and 2019 of the ESQ successfully held virtually. The Nigerian Legal Awards. state-of-the-art technological

LABOUR & EMPLOYMENT TEAM OF THE YEAR G. ELIAS & CO. NOMINEES: OLAJIDE OYEWOLE LLP, G. ELIAS CO, FAMSVILLE SOLICITORS, BLOOMFIELD LP, AELEX, ALUKO & OYEBODE, JACKSON, ETTI & EDU LP

G. Elias & Co. acted on behalf of Ecobank Nigeria Limited in the case of BABAJIDE BAYODE ET. AL. v. ECOBANK NIGERIA LIMITED. This is a class action involving over 1,750 disengaged employees of the defunct Oceanic Bank Plc (acquired by Ecobank Nigeria Limited).

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he matter encompasses complex and novel issues such as whether simple loans issued to employees by their employer in such employer's ordinary course of business as a financial institution falls within the jurisdiction of the National Industrial Court as well as other seminal legal issues including whether a suit instituted on behalf of individuals who did not consent to the filing of the suit or have filed their personal lawsuits is an abuse of court process, whether in a merger situation, benefits are to be paid in accordance with the

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policy of their (defunct) employer or the new entity amongst others.

Legal Expertise and Innovation Deployed: The suit arose from the merger of Ecobank and Oceanic Bank.

The case involved interpretation of merger documents viza-viz terms of employment contracts of over 1,750 Claimants to determine viability of their claims as well as defending the suit and prosecuting the counterclaim of the client. To address the several challenges arising from reviewing the employment contract of cover 1,750 claimants many of whom did

Clients Satisfaction The firm's work is very important to their client. They were required to carefully and thoroughly consider each head of claims of the Claimants in a bid to defend the client and not consent to the filing of the show that the Claimants claims are not viable. class action, and the merger Precedents set documentation, the firm has adopted several novel The case being the largest case approach in the final written involving banks in Nigeria address to address the mind of which arose from a merger the court to what the core situation, when concluded will issues as graphically as set precedents for mergers and possible. acquisition, especially in relation to labour matters.

The firm has employed the relevant technology and technical know-how, in communicating with the Client and responding to their needs in record time. We have explored options of settling the disputes between the Client and the Claimant amicably, in the past.

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INSOLVENCY TEAM OF THE YEAR G. ELIAS & CO. NOMINEES: WIGWE & PARTNERS, G. ELIAS & CO, ALUKO & OYEBODE, JACKSON, ETTI & EDU

G. Elias & Co. advised AMCON on its divestment from Arik Air Limited (In Receivership), a Nigerian airline (once considered too big to fail) with a market share of above 40%. In a bid to revive the once-largest airline in Nigeria, which was becoming insolvent, AMCON had purchased the eligible bank assets of various bank creditors of Arik; and advanced further loans to Arik.

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MCON had, sometime in 2016, appointed a receiver over all of the assets of Arik. As part of a syndicate of legal, financial and technical advisers, our scope of work involves legal advisory on the most appropriate, tax efficient divestment strategy. This is the largest insolvency in Nigeria's aviation space.

Legal Expertise and Innovation Deployed: The AMCON Amendment Act 2019 devised uncommon recovery powers to AMCON allowing it to proceed against assets irrespective of other limitations under general law.

As transaction counsel, they

navigated through all the issues relating to AMCON's insolvency powers with a view to avoiding or restricting the occurrence of future legal challenges. They also ensured the transaction does not impact the smooth operation of Arik Airline.

receivership, and the length and breadth of AMCON's recovery powers. This transaction was structured to effectively carry out a constructive hive-down of the creditor's assets. Hive-downs are very rare in the market.

This transaction has led them to cut through issues relating to the enforcement of the security under Nigerian law,

The fim's advisory work is assisting the client to safely recover its aircraft assets, while

preserving the life of the company. With the aim to preserve the value of the assets and ring-fence them for future legal action, they effectively advised and implemented a transfer of the aircraft assets to a liability-free assignee, using the most efficient tax structure.

Precedents set

This transaction is the largest aviation insolvency in Nigeria.

This transaction will act as precedent for future insolvency proceedings in the sector. The transaction is structured to They have also had to advise ensure that the assets puron sundry insolvency issues A key innovation was the structuring of the transaction relating to the post-transaction chased with the eligible bank operation of the target, dealing assets are efficiently recovered to maximize the value of the and utilized. The deal structure with employees, preferential assets recovered; and tax is aimed at maximizing payments, and handling of efficiency. This transaction AMCON's recovery and other secured and unsecured tests the very novel and insolvency powers within the creditors of the company. disruptive provisions of the limits of applicable laws in newly amended AMCON Act, Nigeria.

2010.

Clients Satisfaction

CORPORATE COMMERCIAL TEAM OF THE YEAR ALUKO & OYEBODE NOMINEES: : DEAL HQ PARTNERS, OLAJIDE OYEWOLE LLP, SOLOLA & AKPANA, WIGWE AND PARTNERS, G. ELIAS & CO, FAMSVILLE SOLICITORS, DUALE, OVIA & ALEX-ADEDIPE, DETAIL COMMERCIAL SOLICITORS, BLOOMFIELD, ALUKO & OYEBODE, ALLIANCE LAW FIRM, AELEX, UDO UDOMA & BELO-OSAGIE

Aluko & Oyebode advised The Nigerian Stock Exchange Plc (now Nigerian Exchange Limited) on the demutualization of the Nigerian Stock Exchange through a scheme of arrangement. The firm acted as Transaction Counsel to The Nigerian Stock Exchange (“The Exchange”) in connection with the demutualisation and restructuring of The Exchange.

company with three operating subsidiaries namely: (i) Nigerian Exchange Limited; (ii) NGX Regulation Limited; and (iii) NGX Real Estate Limited.

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Further to the demutualisation, the trading business of The Exchange would be transferred to Nigerian Exchange Limited, a licensed securities exchange; while the regulatory functions of The Exchange would be undertaken by NGX Regula-

he demutualisation process, which was effected pursuant to the Demutualisation of The Nigerian Stock Exchange Act, 2018 via a Scheme of Arrangement sanctioned by the Federal High

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Court of Nigeria (the “Scheme”), received final approvals from the Corporate Affairs Commission and Securities and Exchange Commission (SEC).

The Scheme involved the conversion of The Exchange from a company limited by guarantee to a public company limited by shares, and the reregistration of The Exchange as Nigerian Exchange Group Plc, a non-operating holding

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tion Limited, which is registered with the SEC as a self-regulatory organisation.

NGX Real Estate Limited would be responsible for managing real estate assets within the Group.

The demutualisation of The Exchange, a first in Nigeria, is a landmark transaction that has generated intense global interest. The demutualisation is critical for the development of the Nigerian capital market, as it will enable The Exchange to gain new strategic partnerships, achieve capital raising flexibility and improve its operational efficiencies with a view to accomplishing its vision of becoming Africa's leading capital market infrastructure provider. The demutualisation is also expected to deepen the investor base of The Exchange as it unlocks opportunities for domestic and institutional investors to realise significant economic value.

Legal Expertise and Innovation Deployed Aluko & Oyebode employs technology on a daily basis in all aspects of its service delivery from conflict checks and engagements to billing and remote work. The Firm uses a number of computer programmes and applications to enhance the on-boarding process of clients and to appropriately track the amount of time its lawyers spend on transactions, on behalf of its various clients. The Firm utilizes PC Law, a practice

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management software programme to conduct conflict checks and preliminary due diligence, prior to beginning any work for a new client or engaging in a new transaction for an existing client. The programme is also utilised in billing and accounting and has proven useful in easily identifying outstanding balances due to the Firm.

Additionally, the Firm has updated its billing software to Intapp, which allows its lawyers to easily capture their respective hours expended on tasks throughout the workday.

This ensures that clients are provided with an accurate record of work done whenever a statement of hours and fees is issued. The Firm also uses various meeting applications to host internal and external meetings thereby allowing our clients to meet with us virtually and protecting them from unnecessary contact during the ongoing pandemic.

Each of these applications has proven vital in promoting efficiency in the service delivery and administrative tasks allowing the Firm to continue providing quality legal advice to its clients Clients Satisfaction

by providing pertinent Nigerian law advice and context; and ensuring prompt delivery of service which culminated in the seamless completion of transactions within a short period of time.

the Firm's ability to adapt to the existing exigencies caused

by COVID-19 through participation in virtual meetings and engagements. It is important to note that this transaction was executed in the wake of the COVID-19 pandemic lockdown which Given that Corporate Commerrequired the team to adopt cial transactions typically new working conditions while involve a lot of regulatory ensuring cohesion and engagement, which can be an responsiveness to client needs. uphill task, the team approaches obtaining regulatory approvals strategi- Precedents set cally – preparing its clients for all the potential setbacks that The COVID-19 pandemic has may come from the regulators impacted deal flow since Q2 while actively engaging the 2020, the Nigerian Corporate regulators on the benefits of Commercial market has hardly the proposed transaction on witnessed deals of this nature, the Nigerian economy and as many companies are leveraging on the Firm's seeking to steady adjustments thought leadership – the end to the new economic terrain result being satisfaction for and exercise more control on both the client and the their financial outflow in order regulators. to improve revenue and cutcost. Transactions of this nature also typically require This was evident in this court sittings, general meetings transaction which witnessed and other in-person activities good turnaround time which were affected by following engagements and COVID-19 restrictions. filings made at the offices of regulators, such as the Nonetheless, the Firm has been Securities and Exchange a leading light in navigating Commission, the Corporate hurdles limiting the implemenAffairs Commission, and at the tation of clients' transactions Federal High Court where the and advising on a variety of Scheme was sanctioned by the deals, leveraging on its solid Court in due time following experience and relationship the approval of the sharehold- with stakeholders. The Firm ers of The Exchange. has assisted its clients in achieving their corporate objectives, extinguishing On the transaction, the client losses, and secure profitable was extremely satisfied with the Firm's service delivery and returns, thus mitigating the impact of COVID-19 on clients' thorough input on the businesses. transaction. The client was

The Aluko & Oyebode Corporate Commercial team is known for its efficient and collaborative approach to work. Clients have attested to the team's ability to collaborate effectively with other professional parties on transactions particularly impressed with

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MINING TEAM OF THE YEAR ALUKO & OYEBODE NOMINEES: BLOOMFIELD LP, ALUKO & OYEBODE

Aluko & Oyebode acted as Nigerian Counsel to Africa Finance Corporation with respect to the US$78,000,000.00 term loan and streaming facilities to be granted to Segilola Resources Operating Limited (borrower) for the financing of the construction and development of the Segilola Gold Mine project in Nigeria.

Legal Expertise and Innovation Deployed:

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ur transactions are priced in a manner which provides the best value to Clients with the objective of increasing client satisfaction. Our fees are measured against deliverables throughout transactions.

member of the team in order to ensure that while the client is not overcharged, the Firm does not underbill.

The Firm also uses Microsoft Project Planner to enhance team collaboration and keep track of all transaction timelines and Microsoft Teams to host internal and external meetings thereby allowing our clients to meet with them virtually and protecting them The firm utilises technology such as Rekoop and PC law to from unnecessary contact during the ongoing pandemic. enhance accountability to its clients on actual time spent on With these tools, the firm continues to deliver exemplary transactions and capturing of services to the client during the expenses. The use of these COVID-19 the pandemic and have enabled the Firm to provide monthly statements of lockdown. fees setting out the personnel, tasks handled, and the length The Firm's approach to service of time expended by each delivery is always solutions-

a number of practice areas/sectors, clients commend the clarity of the team's opinions on complicated areas of law, responsiveness and expertise in navigating complex legal and regulatory hurdles that arise during the execution of transactions. Our driven rather than an academic clients particularly appreciate or points-scoring exercise. The our ability to assist them in value of the team and the achieving successful transacadvice delivered is frequently tion closings. cited in legal reviews, with high quality service and the Precedents set commercial approach of the lawyers regularly receiving commendation. The Firm also The transaction structure stands out for its quick comprised an equity financing turnaround time, effective phase (the subscription to collaboration with other shares in the borrower's professionals and focus on offshore company and was client satisfaction. concluded in 2019) and a debt phase (the disbursement of credit facilities and sale of Clients Satisfaction gold) which closed in November 2020. Upon its The Firm has a reputation in conclusion, the transaction the market and amongst its became the largest mining clients for delivering practical, financing in Nigeria and the result-oriented and commermost advanced gold project till cially astute solutions to date in Nigeria. clients. With diverse experience within the team spanning

MEDIA & ENTERTAINMENT TEAM OF THE YEAR ALUKO & OYEBODE NOMINEES: ALUKO & OYEBODE, ALLIANCE LAW FIRM, JACKSON, ETTI & EDU

Aluko & Oyebode advised an American public multinational technology company that specialises in consumer electronics, computer software, and online services.

& Africa, Asia and plans to expand its services to Nigeria.

The client engaged the Firm to address questions pertaining to In-App Video Content, he Firm provided Ÿ broadcasting of children Commission (NBC) in respect Original Content, Third Party key advisory programmes; of the application of the Subscription Video on Demand support to the client Ÿ liability for own content amendments to the 6th Edition Channels and Third-Party of the Nigeria Broadcasting on the expansion of and third-party content; Linear Channels as it will Code (the “NBC Code”) to its services in appear on the TV App. Their Ÿ Nigerian payment offshore online platforms.

Nigeria. Key areas of support areas of legal advisory support regulations; included advising on: included advice on general Ÿ technical requirements; Ÿ the applicability of the broadcasting laws and Legal Expertise and Innovation location of servers and Deployed: Nigerian broadcasting regulations, content standards equipment amongst others; laws and regulation to the (rating and gating technology), and tv app; advertisThe client currently provides Ÿ determination of physical ing/marketing/commercial Ÿ the use of ratings and an ad-free subscription video presence under Nigerian references, children's TV, UX gating technology; content on demand (SVOD) streaming law. standards; television and music service in requirements, music perforThe Firm extensively engaged the United States, Middle East mance rights, net neutrality, Ÿ advertising laws; the National Broadcasting intellectual property rights,

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defamation, rights of publicity/privacy, subscriptions and billings, competition, and privacy on the proposed provision of its tv app offering in Nigeria. Extensive research into SVOD/pay TV in Nigeria has predicted that Nigeria will have 10 million pay TV subscribers by 2025. By 2025, it is predicted that Africa would have 47.26 million pay TV subscribers. It is noteworthy that the media and entertainment industry are leveraging the hosting of productions on SVOD/pay TV platforms and aggregating content on these platforms.

Prior to the amendment of the NBC Code in 2020, the NBC was charged with receiving, processing and considering applications for the establishment, ownership or operation of radio and television stations, direct satellite broadcast and any other medium of broadcasting, from anywhere in Nigeria. However, further to the amendments of the NBC Code in 2020, offshore online/web broadcasting services are now required to be registered with the NBC. This amendment greatly impacts the service offering of the client in Nigeria which necessitated it to undertake a robust compliance and risk assessment of its service offering in Nigeria to avoid sanctions and reputational damage.

Aluko & Oyebode provided innovative advice on structures

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to enable the distribution of the services in Nigeria through strategic partnerships with existing NBC licensees.

passionate about leveraging emerging technologies that facilitate media and entertainment and believe in deep collaborations when working on transactions. The firm The introduction of the understands the culture and amendment under the NBC practices of companies they Code coupled with the Federal work with, and these core Government directive to the values and thorough research NBC to immediately comare what shape their advice. mence the process of licensing of all OTT, SVOD and social Over the years, they have media operations in Nigeria provided cutting edge legal brings significant changes to the space and may impact their advice to multinational and local companies. The firm's client and other players. The advice is thorough as they firm anticipates significant endeavour to stay abreast of engagement between the Federal Government and other Nigeria's regulatory environstakeholders; they are glad to ment. Through constant engagement with key be at the forefront and continue to monitor the space, regulators, they have helped for any regulatory directives, resolve their clients challenges and navigate the business stakeholder meetings, to ensure that clients operating in regime in Nigeria to thrive in this exciting sector. the space and the key regulators achieve a thriving sector.

The firm has received commendations from clients Clients Satisfaction based on their outstanding performance, global outlook on The firm's leading-edge Media transactions, the speed and clarity with which they and Entertainment practice group stands ready to service provide guidance to issues, and their visible understandclients in all aspects of the rapidly expanding, influential ing of their clients' needs at every point. and changing industry. They thoroughly understand their client products and will always Precedents set aim to satisfy their clients through a deep understanding In February 2021, as part of the of their needs, businesses, and Firm's commitment to provide their industries. In providing valuable support to businesses legal advice, they typically in the Media and Entertaindeliver simple creative guides ment space, the Firm launched that are clear and devoid of the Filmmakers Assistance, a ambiguity or legalese. They are

corporate social responsibility initiative. The Filmmakers' Assistance is an initiative that seeks to provide free legal consulting services to producers of movies or television series with legal content. The legal support is limited to advice on costuming, review of scripts to reflect language in the courtroom, client meeting scenes and court room or law office settings.

The Firm is undertaking, on a yearly basis, to assist a cumulative of 5-7 filmmakers, subject to terms and conditions.

Since the inception of the initiative, THEY have been able to leverage their experiences and resources in providing support to producers and directors of Tv series and movies and have gotten positive feedback from partners as noting that their support has been excellent. The Firm is a pioneer in this space and looks forward to collaborating with more filmmakers.

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MERGERS & ACQUISITIONS TEAM OF THE YEAR JACKSON, ETTI & EDU NOMINEES: : DEAL HQ PARTNERS, THE NEW PRACTICE (TNP), TEMPLARS, OLANIWUN AJAYI LP, G. ELIAS & CO, ALUKO & OYEBODE, DUALE, OVIA & ALEX-ADEDIPE, AELEX, JACKSON, ETTI & EDU, UDO UDOMA & BELO-OSAGIEMFIELD, ALUKO & OYEBODE, ALLIANCE LAW FIRM, AELEX, UDO UDOMA & BELO-OSAGIE

Jackson, Etti and Edu successfully concluded its role as transaction legal adviser to ProvidusBank Plc in respect of the Buyout/ acquisition of minority shareholders of ProvidusBank Plc undertaken pursuant to a scheme of arrangement between ProvidusBank and its shareholders.

The transaction involved: Ÿ the establishment of an escrow account for the payment of the minority shareholders; Ÿ court-ordered meeting of the shareholders for approval of the scheme by majority of the shareholders voting as a class for the approval of the acquisition through the scheme of arrangement; Ÿ court sanction of the scheme by the Federal High Court; Ÿ approval of the scheme by the Central of Bank of Nigeria and the Securities

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and Exchange Commission; reregistration of ProvidusBank Plc as a private limited liability company.

long-term viability; Ÿ An option for the Minority Ÿ Shareholders to exit at an attractive pricing and mitigate against any future erosion of their investment; and Ÿ Safeguarding the jobs of all The Transaction was very direct and indirect important to ProvidusBank, as employees of it fits into its long term goals ProvidusBank and and objectives which has been retaining the confidence of designed since over a decade customers and all other ago. The Transaction also stakeholders in the Bank helped with the following: by ensuring that Better corporate platform for ProvidusBank, in compliProvidusBank to execute its ance with regulatory immediate to medium term capital requirement, strategic funding plans remains operational and required to ensure the Bank's enhances long term value

of the business for all stakeholders.

Legal Expertise and Innovation Deployed: The use of a scheme of arrangement for the corporate restructuring of a bank is not common in the industry.

Usually, the common kind of restructuring in the industry is a holding company structure.

The Jackson, Etti and Edu team had to leverage cloud technology and services to complete the transaction as their office fully migrated to

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remote working during the pandemic crisis. This included live collaboration on documents, online meetings, use of their interactive database, and so on. This was in contrast with the traditional in-person interviews, visits to the client's office to review confidential files, movement of files from desk-to-desk.

Clients Satisfaction The restructuring was very important to the client and met the client's long term objective.

The client was particularly impressed and proud of the journey with the Firm from when it was a mortgage bank to this new position of being

the only shareholder of the bank.

Precedents set This is the first complete buyout of minority shareholders in the Nigeria banking industry since the consolidation of the banking sector in

2005. It is also the first time a Nigerian bank is taken private through a complete acquisition of minority shareholders. This is the first bank re-registered as a private company from a public company without forming a holding company.

INTELLECTUAL PROPERTY TEAM OF THE YEAR JACKSON, ETTI & EDU NOMINEES: BRIDGEFORTE ATTORNEYS, DUALE, OVIA & ALEX-ADEDIPE, OLANIWUN AJAYI LP, AELEX, OLAJIDE OYEWOLE LLP, THE NEW PRACTICE (TNP), ALUKO & OYEBODE, DLA PIPER AFRICA, OMAPLEX LAW FIRM, JACKSON, ETTI & EDU

Jackson, Etti and Edu advised MTN Nigeria Communications PLC (MTN) on its Intellectual Property Audit, Prosecution & Enforcement. This is perhaps the first major general-purpose IP audit of its kind in Nigeria, especially for a Telecommunication Company that has a wide range of intangible assets and brand products.

The step taken by the client to conduct an IP audit signifies that MTN is tidying up internal positions to consolidate its brand strategy in the market and combat the activities of infringers and squatters.

Legal Expertise and Innovation Deployed: Ÿ

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Use of interactive platforms for interviews e.g., Microsoft Teams.

Use of secure file sharing/cloud technology tools Use of collaborative tools to edit live documents among team members for convenient remote working Completion of the domain name dispute remotely Traditionally, IP audits involve physical interviews, review of hardcopy files and deployment of a high number of technical personnel.

Ÿ The team handled a large scale of recordal applications to reflect the change of name and regularise the title of ownership of existing trademarks. Ÿ This implies that IP protection is taken seriously by some Ÿ companies in Nigeria. The team also successfully prosecuted a domain name infringement to also send a strong message to brand infringers and trademark/domain name squatters.

The firm had to leverage cloud technology and services to In all, for an industry that complete the IP audit as MTN heavily relies on brand reputation, these deals signify fully migrated to remote working during the Covid-19 that intellectual property is pandemic crisis. This included receiving the necessary live collaboration on docuattention in Nigeria and is ments, online meetings, use of going beyond traditional our interactive database, and filings or registrations. so on.

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This was in contrast with the traditional in-person interviews, visits to the client's office to review confidential files, movement of files from desk-to-desk, etc.

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Nigerian law firm for their IP needs the eagerness that to fully implement the IP strategies to enhance the commercialisation of IP rights efficient and seamless workflow

Clients Satisfaction Precedents set Jackson, Etti and Edu's clients are happy with their efforts on the following: Ÿ

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thorough, objective overview, and expert analysis of their intellectual property assets and strategies. review of innovation strategies and new ways to commercialise IP rights. regularisation of the title of ownership of trademarks; this particularly evident in that MTN does not take brand infringement lightly and will take the necessary legal actions to enforce the same that they can rely on a

This is the first generalpurpose IP audit of its kind in Nigeria in the Telecommunications sector (to the best of our knowledge) This is the first international domain name dispute matter to be prosecuted against an infringer by MTN and resolved in favour of MTN under WIPO Arbitration and Mediation Rules.

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IMMIGRATION TEAM OF THE YEAR BLOOMFIELD LAW PRACTICE NOMINEES: FAMSVILLE SOLICITORS, BLOOMFIELD LAW PRACTICE , ADVOCAAT LAW PRACTICE, JACKSON, ETTI & EDU

Bloomfield Law Practice acted on behalf of Procter & Gamble International on the strategic movement of Nigeria Employees and their family members to the following countries (South Africa, Egypt, Philippines, U.A.E and Qatar).

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hey assisted with procurement of public documentation (certified marriage and birth certificates, school certificates and education qualifications), work visa authorization, document authentication at the Ministries of Education and Foreign Affairs and document legalization at the various embassies for use in the various countries.

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BLP advised and assisted P&G with the verification of Nigerian documents for use in the various countries to enable the Nigerian nationals relocating to the following countries (South Africa, Egypt, Philippines, U.A.E and Qatar) for work purposes to obtain the relevant regulatory work and residence permits for their stay. The verification of

documents was carried out in the Federal Ministry of Foreign Affairs, Federal Ministry of Education; where educational certificates are to be verified, National Population Commission; where birth certificates are to be verified, Ministry of Interior/Marriage registry; where marriage certificates are to be verified, or any other relevant regulatory authorities and the final stage of the verification process is at the

various embassies where the verification.

The role of the firm was strategic in the sense that they had to provide advice for employees moving to multiple jurisdictions. They were able to successfully and seamlessly assist with the various work authorization and the client was delighted.

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Legal Expertise and Innovation Deployed: In today's fast-changing, electronic and new compliance-driven application processes, the firm keeps up with various changes and new requirements in the immigration sector by empowering their clients with recent developments on immigration related information through automatic newsletters and client alerts. This broad and up-to-date knowledge allows BLP to provide Fragomen and their clients with the best available strategies for success and alerts them when issues might affect their immigration program. BLP recently upgraded their software programme to the highest level which gives access to workflows, transactions, calendars, client matters, case management and the timing records of all matters in the firm. The software also automates administrative tasks like filing and time tracking.

The introduction of this program shows the firm is a forward-thinking business that's not afraid of competition and is ready to embrace the change in the legal circle and improve speed, efficiency, and accuracy in the firm.

and expertise in regulatory compliances has been evident in this transaction. A clear understanding of the immigration regulatory landscape upon which the transactions were executed was essential to finalizing each process.

Members of the team have also established stable communication relationships with regulatory compliance officials, and this safeguards the processing of applications in a timeous manner.

Clients Satisfaction The firm's experience in this field ensures that their adopted procedure for obtaining the desired result is both cost effective and expedient. The transaction was priced in a manner which provided best value to Fragomen with the objective of increasing client satisfaction. The fees were measured against deliverables throughout the transaction.

Precedents set BLP has set a record of having the fastest turnaround on approvals for all our permit applications within a very short period. Their clients are confident in the quality of services the firm provides.

BLP's profound knowledge

OIL AND GAS TEAM OF THE YEAR BLOOMFIELD LAW PRACTICE NOMINEES: G. ELIAS & CO, BLOOMFIELD, ALUKO & OYEBODE, AELEX, OLANIWUN AJAYI LP

Bloomfield Law Practice provided legal advisory services to the consortium of Lenders represented by Camden Private Office Ltd & Gilgal Investments Company Ltd ("Camden and Gilgal") and the Nigerian National Petroleum Corporation ("NNPC") on all aspects of project development for the rehabilitation of the Kaduna and Warri refineries (the "Project").

To this end, Bloomfield is reviewing the transaction term sheet and the structure of the Project with a view to identifying and providing mitigants for any legal and regulatory issues thereto as well as providing specific perspective on project financing of government

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owned infrastructure in the energy industry in Nigeria.

The firm's responsibilities include: Ÿ review of the financing term sheet between the foreign investor and the NNPC which was recently

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executed by all parties; preparation of a diagnostic report to identify the legal and regulatory framework for undertaking each stage of the Project, commencing from Special Purpose Vehicle ("SPV") incorporation, to the Project

implementation; Security Package for the Lenders (comprised of a forward sale of refined petroleum products; charge over accounts and shares of the SPV; and NNPC Undertaking); and the on-sale of the refined products by the SPV to offtakers;

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preparation of legal memoranda on the compliance requirements and conditions precedent and subsequent necessary for the enforceability of the relevant agreements under Nigerian law and efficient Project implementation.; conducting due diligence on the Project and project related documentation; reviewing the facility agreements and security documents to ensure enforceability under Nigerian law and that it is in the best interest of their clients.

capacity of five point-five-fivepercent (5.5%), yet the country spends huge sums directly and indirectly on the refineries.

Thus, the decision to revamp the refineries hinged on the fact that it provides a solid opportunity to put the refineries in good conditions and have ceaseless production of petroleum products. It also allows the country to save its foreign exchange while retaining its skilled manpower.

This deal is also significant in the Nigerian oil and gas sector, due to the impact it will have on reducing the importation of refined petroleum products and improving Nigeria's The rehabilitation of these foreign exchange reserves. The assets is critical to improve the aim of the rehabilitation is to domestic production in upgrade the Refineries to Nigeria. Despite the fact that achieve a minimum of ninety the Warri Refinery has a percent (90%) name plate capacity of 125,000bpd and the combined production capacity Kaduna Refinery also has a of 235,000 bpd of crude oil. The capacity of about 150,000bpd; rehabilitation of the refineries, the refineries have undergone together with the rehabilitation serious degradation due to and or construction of the oil poor management and pipelines and storage depots maintenance with capacity (where applicable) are part of utilization usually between the concrete efforts being taken fifteen percent (15%) and by the NNPC to improve key twenty-five percent (25%). oil and gas infrastructure and From the last published improve revenue generation audited reports of the NNPC from the oil and gas sector. in 2020, refineries in Nigeria Bloomfield's role as Project incurred a total loss of One adviser in both of these key Hundred and Fifty-Four transactions is a testament to Billion Naira our competence and experi(N154,000,000,000) and NNPC ence in advising on project continues to incur more losses development for key infrain their moribund state. structure projects.

Shortly before the refineries shut down, the refineries were operating at a combined

Legal Expertise and Innovation Deployed: Considering the World Bank's negative pledge, the Firm was required to develop a structure where the interest of the Lenders is protected and implementation of the Project will not be caught by any commercial or regulatory bottlenecks. The firm advised the Lenders on the effect of the Forward sale arrangement and the incidence of a true sale within Nigerian jurisprudence.

Noting the position of NNPC and the need to avoid culpability under the negative pledge, the firm is working on arrangements where NNPC will not relinquish its obligations to the detriments of the Lenders. Also, they are firmly acquainted with project finance structures and the need to provide comfort for the Lenders to ensure that the deal runs smoothly.

The Firm is currently using an office management and billing software which integrates task progress features and the amount generated for each assignment. These features ensure that timelines are adhered to and measurable results can be attained. The billing software also tracks the progress made on transactions against quoted - fixed and capped – fee(s). Also, in line with Bloomfield's motto, they remain committed to offer value to our clients on each engagement.

Clients Satisfaction We have been trusted by our client that our services are provided in an excellent manner and this has constantly been ranked as high value work. This Project is crucial to the national oil and gas sector and will have a major market impact in Nigeria. We pride ourselves in our thorough, insightful and fully practical understanding of the nuances of this form of project development and as such we are able to provide expert insights into complex scenarios thereby avoiding or navigating through the complex bottlenecks that are usual in the Nigerian commercial context.

Precedents set Upon the successful completion of this Project, this will be a blue-print for similar transactions and will be indicative of our demonstrated expertise in the oil and gas industry and other related sectors such as finance. Our work has continuously set precedents in terms of the quality of the output as well as the practical and pragmatic style of responding to our clients and allaying any country-specific fears. We continue to set precedent on the most commercially advantageous modes of solving contemporary issues.

TELECOMMUNICATION & TECHNOLOGY TEAM OF THE YEAR BLOOMFIELD LAW PRACTICE NOMINEES: THE PENTHOUSE SOLICITORS, THE NEW PRACTICE (TNP), PAVESTONES LEGAL, OLANIWUN AJAYI LP, OLAJIDE OYEWOLE LLP, ALUKO & OYEBODE, AELEX, G. ELIAS & CO, ADVOCAAT LAW PRACTICE, BLOOMFIELD LAW PRACTICE, DUALE, OVIA & ALEX-ADEDIPE, JACKSON, ETTI & EDU.

Bloomfield Law Practice provided legal advisory services to PurpleMoney Microfinance Bank Limited (the “Bank”) in relation to the development of a product (“My Landlord”) which allows tenants to obtain loans for the payment of rent from the Bank through a mobile application or a website.

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s part of its mandate, the firm prepared the template forms, loan documentation, know-your-customer documents, privacy policies and processes to be uploaded on My Landlord. In putting the documentation in place, they considered the Nigerian Data Protection Regulation and the various CBN guidelines on customer due diligence, to ensure that the user interface of the My Landlord application met all the regulatory requirements.

Legal Expertise and Innovation Deployed: My Landlord is the first of its kind in Nigeria and unlike the traditional way of applying for loans which takes several days for a loan application to be approved, the My Landlord loan is approved within 4 hours. As this had not been

done before in Nigeria, and due to the speed at which the loan was approved, this was a particularly complex matter and the firm's sector and technical expertise was required in the preparation of the documentation and Ÿ processes for the approval of loans, as a 'first' in the market.

The Firm provided innovative high-quality legal advice by: Ÿ

its way of working to exceed clients' expectations by providing practical, innovative solutions that Ÿ enable them to seamlessly implement their goals.

Examples of this include advising on innovative structures for unconventional FinTech products to operate legally within the Ÿ regulatory framework in Nigeria. Their approach means that they are regularly instructed to act

on first-of-their-kind deals.

In the last 12 months, they advised on the first-ever housing loan product to be operated by a bank through a mobile application and a website. implementing a policy of providing at least a preliminary response to all client inquiries not later than thirty (30) minutes of receipt of the same. This ensures that all client requests are promptly addressed in line with the need to ensure client satisfaction. maintaining relationships with regulators which enables them to provide legal services which reflect the position of the law as well as practical realities; implementing a quality control policy which requires that every work product produced by the Firm is reviewed by at least a Senior Associate and a

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Partner, to ensure that the client benefits from its vast experience, and to ensure that they consistently render high quality legal advice. adopting an integrated approach to provide legal services by drawing on the strengths of each practice group, including the Corporate, Finance and Securities practice group and the Tax practice group, to render well-rounded legal services to the client.

Precedents set The firm continues to set precedents on the most commercially advantageous modes of solving contemporary issues. The precedents set has ensured long lasting relationships with clients, high profile referrals.

REAL ESTATE & CONSTRUCTION TEAM OF THE YEAR BLOOMFIELD LAW PRACTICE NOMINEES: DEAL HQ PARTNERS, SOLOLA & AKPANA, WIGWE & PARTNERS, THE NEW PRACTICE (TNP), OLAJIDE OLEWOLE LLP, GREYCHAPEL LEGAL, G. ELIAS & CO, FAMSVILLE SOLICITORS, DLA PIPER, DETAIL COMMERCIAL SOLICITORS, BLOOMFIELD LAW PRACTICE, ALUKO & OYEBODE

Bloomfield Law Practice is currently providing legal advisory services to Lekki Retailtainment Limited (LRL), a subsidiary of Purple Group, on its development of a state-of-the-art retail and entertainment (mixed use) centre in the Lekki area of Lagos state, Nigeria.

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he building is a fine fusion of retail shopping outlets, an entertainment floor as well as residential apartments.

protect the vendor, and its right of reversion in the event that the purchaser was unable to raise sufficient finance for the project.

The Firm provided legal advisory services to LRL in relation to the drafting of transaction documentation for the purchase of the project land, the procurement of financing and the construction of the development. The Firm also provides legal advisory in relation to the structuring of the project to allow for the Based on this, the Contract of participation of several parties Sale and Deed of Assignment including the vendor, the which detailed the terms of the financiers and key middlemen sale of the project land was for the successful commenceprepared in such a way as to The deal is structured in such a way that the purchase of the project land is subject to the Holding Company, Purple Real Estate Income Limited sponsoring the raising of finance by the issuance of Sukuk Al Ijarah Notes.

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In-depth Industry Knowledge The Firm possesses an in-depth knowledge of the industry, which is evident with its legal advisory support to residential, hotel and shopping mall industries and its ability to ment of the project. diligently and commercially support developers and Legal Expertise and Innovation investors to budget and has ensured its participation in Deployed: numerous innovative development and investment Islamic Finance is relatively projects in the last few years. new to the Nigerian Financial Sector let alone the real estate Practical and realistic commersector. As such, the introduccial structuring – The firm's tion of this ambit of finance expertise also lies in structurinto the real estate sector is a ing and planning real estate huge and significant deal for transactions, property finance the Firm as well as all the and project development.

Parties involved in the transaction. Upon conclusion, These come to the fore in all its this transaction will serve as a negotiations with real estate developers and government precedent for other emerging bodies alike in drafting of real estate transactions. commercial documentation, performance of due diligence, The Firm provided innovative joint venture agreements and high-quality legal advice by: Esq Legal Practice | 75

procurement of regulatory consents and authorisations.

The firm deploys these skills acting on behalf of its clients, on whatever side they appear on, and ensuring the commercial interest.

Industry relationship Members of the team also possess a vast network of contacts and relationships within the industry and with regulators; and as such, they have developed long-standing relationships with supervisory institutions, which ensures expedited processing of necessary permits in the Real Estate and Construction sector.

These include drafting of transactional agreements, perfection of title documentation, registration of documentation in the Ministry of Lands e-register and other routine transactions in the real estate sector.

heavily in a project management and billing software which has helped to track the progress made on transactions against quoted - fixed and capped - fees. The Firm's objective is to assist clients obtain the best value for fees paid or to be paid. It also enables the Firm and its clients make better informed decisions in terms of strategy and methodology in reaching stated objectives.

Innovation in pricing- The Firm adopted a flexible and discounted fee arrangement, which accommodated Client's needs without compromising the imperative need to be fairly Clients Satisfaction compensated for the legal services provided. From a billing and project manageClients continue to give ment perspective, the Firm has, positive feedback on the firm's in the past year, invested

legal services, while showing appreciation of its timeous response to deliverables with guaranteed quality of work.

This in turn generates more business opportunities for the firm and increased capacity.

Precedents set The firm continued to set precedents on the most commercially advantageous modes of solving contemporary issues. The precedents set has ensured long lasting relationships with clients, high profile referrals.

CAPITAL MARKETS TEAM OF THE YEAR BLOOMFIELD LAW PRACTICE NOMINEES: GREYCHAPEL LEGAL, THE METROPOLITAN LAW FIRM, THE NEW PRACTICE, WIGWE AND PARTNERS, BLOOMFIELD LAW PRACTICE, OLANIWUN AJAYI LP, ALLIANCE LAW FIRM, G. ELIAS & CO, ALUKO & OYEBODE, AELEX, UDO UDOMA & BELO-OSAGIE

Bloomfield Law Practice's submission for Capital Market Team of the Year is based on One Watt Solar Limited (“OWS”) ₦10,000,000,000 bond programme where the firm acted as Transaction Counsel to the issue.

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he firm advised One Watt Solar Limited (“OWS”), a leading clean technology company in Nigeria which deploys block chain enabled software in provision of decentralized off-grid solar energy, in connection with the 10,000,000,000 bond programme. Till date, it has advised on series I of the programme, involving a 2,000,0000,000 private green bond issuance and Series II of the programme involving a 1,000,000,000 private secured green sukuk issuance with an Ijarah structure. As transaction counsel, the firm is responsible for advising on the structure of the transaction and drafting the transaction documents. For the Series I of the transaction, they were responsible for drafting the trust deed, vending agreements, account bank agreement, corporate authorizations. As the bonds were required to be green bonds and certified as such, they were also required to

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ensure that the transaction structure and the documents reflected this and ensured that proceeds would only be applied in accordance with green bond principles. The proceeds of the Ijarah Sukuk issuance would be used to purchase lithium batteries and solar inverters in the name of the delegate trustees, and the trustees would lease these to OWS pursuant to an Ijarah Agreement. At the end of the Sukuk Period, the trustees would transfer title in the equipment to OWS by a deed of gift. As such, the Bloomfield team are responsible for drafting the transaction documents including the trust deed, Ijarah Agreement, deed of gift, corporate authorisations, cost undertaking.

Green Bond for 15% Off-Grid Renewable Energy Project and Corporate Green Sukuk respectively in Africa. This transaction is a blueprint for similar sukuk transactions in Nigeria and it presents an opportunity for more green sukuk in the solar energy space for developing countries that show significant potential towards renewable energy for sustainable development. The transaction was complex taking into consideration that that was the first of its kind in the African market. As such, it required forward thinking and creativity in structuring and documentation of the transaction.

capped - fees. The Firm's objective is to assist clients obtain the best value for fees paid or to be paid. It also enables the Firm, and its clients to make better informed decisions in terms of strategy and methodology in reaching stated objectives.

See more detail on the transaction: Nigerian firm issues Africa's first green bond for renewable energy project EnviroNews Nigeria

Clients Satisfaction

Bloomfield Law Practice have continuously provided their clients with the highest quality of legal service. The Firm continues to be regarded in the market as having a capital markets team that is on an accelerated growth phase in the country. This has endeared From a billing and financing the Firm to both local and perspective, the Bloomfield foreign clients who have firm has, in the past year, engaged them to provide legal invested heavily in training advisory services in this sector.

Legal Expertise and Innovation development of lawyers and The Firm has during the period setting up billing software Deployed under review, structured some which has helped to track the groundbreaking financing progress made on transactions ranging from issuance of the This transaction is significant against quoted - fixed and for being the first Corporate

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first Sukuk in Nigeria for the acquisition of a cargo aircraft among others. Their clients have expressed tremendous satisfaction at the level of their efficiency and turnaround time. To them, their goal is to ensure their client achieves

their desired goals in financing a project or for the business expansion taking into consideration global best practice.

Precedents set

The work carried out by the Bloomfield team has continuously set precedents in terms of the quality work output as well as the practical and pragmatic style of responding to their clients and allaying any country-specific fears.

They continue to set precedents on the most commercially advantageous modes of solving contemporary issues.

For example, the transaction will now serve as a template to future issuance of green sukuk in the African market.

PRIVATE EQUITY TEAM OF THE YEAR BLOOMFIELD LAW PRACTICE NOMINEES: THE NEW PRACTICE, DETAIL COMMERCIAL SOLICITORS, BLOOMFIELD LAW PRACTICE, ALUKO & OYEBODE, G. ELIAS & CO, JACKSON, ETTI & EDU

Bloomfield advised Beta Ventures Partners LLC, an American company focused on investing in technology and technology-enabled start-ups, on the establishment of a fund holding company in Nigeria.

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he firm provided advice on investments in the fund holding company by the initial investors.

They prepared the shareholders' agreement to be entered into between the fund holding company and the equity investors and also advised on the investment term sheet between the initial investors and Beta Ventures. In addition to the foregoing, Bloomfield structured the transaction in a manner that ensured tax efficiency for all the fund partners and investors.

legally required to deduct.

Bloomfield thus applied its significant expertise in the private equity field to devise a legal means to avoid this, through a share buy-back. The investors' shares in the portfolio companies would be repurchased by the company at the maturity date of the investment. As such the investors would not be issued dividends but would merely obtain their return on investment through a payment for the repurchase of their

shares. This ensured that investors received 100% of their returns from the company.

their representation.

Bloomfield's project management methods have also won them goodwill with their clients.

Precedents set

Bloomfield continues to set precedents on the most commercially advantageous modes of solving contempoClients continue to give rary issues. The precedents set feedback on transactions, while has ensured long lasting showing their appreciation for relationships with clients, high their timeous response to profile referrals. deliverables and the quality of output. They have seen their clients increase confidence in Clients Satisfaction

Legal Expertise and Innovation Deployed The fund holding company was established as a limited liability company, as opposed to the limited liability partnership mechanism most often adopted in transactions of this nature. However, Bloomfield was required to nonetheless devise a structure to reduce the investor's tax liability. Nigerian tax law requires companies to deduct withholding tax (an advanced payment of income tax) from dividends paid to shareholders.

As such, if the proceeds from investments in the fund were distributed as dividends, investors would get their dividends less the withholding tax which the company was

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Esq Legal Practice | 77

REGIONAL LAW FIRM OF THE YEAR OMAPLEX LAW FIRM NOMINEES: SOLOLA & AKPANA, OMAPLEX LAW FIRM

Omaplex Law Firm (“The Firm”) is one of the leading law firms in Nigeria that came about as a result of the merging of great law firms established with the purpose of bringing specialists that have gained experience for over 10 years in different areas of law practice in order to provide the highest level expertise to their clients.

all. For every service, the firm provides an e-form to clients with simplified questions geared towards eliciting relevant information for prosecuting their cases/deals, after the initial video conferencing. The firm also he firm consistently and general corporate law. and accounts officer is a adopts live documents shared offers the highest lawyer. A certified financial Under two years, however, with the clients, from which level of professional with a clear vision and serious expert as well. The firm's edits and reviews are done, services to all their financial management growth this has saved time and leadership, the firm now clients both home is succinctly represented commands six more major ensured the clients are and abroad due to their wealth practice areas, with sub-areas during the heat of the Covid-19 involved in the build-up to of experience, and their work pandemic. Due to the under them. These are; tax, their case or the structuring of cuts across multiple jurisdicfinance and securities, energy, automation of the firm's their deals.live documents are tions and the interrelationship international trade, tech law, processes and infrastructure, also employed in-house to between civil, criminal and the firm was able to cut down and intellectual property enable counsels to work on a regulatory practices and at least 45% of its expenses in departments. The firm had a document concurrently, while procedures.

2020, as opposed to 2019. The vision of being a majorly seniors review them, the result result was a 100% increment in of which is an almost complete young lawyer's hub while maintaining and upgrading its the salaries of its staff and an work at the first go, bridging The team of lawyers have expansion into new areas. The the different review stages and services, and this it has developed extensive experifirm's finance grew by 25% in achieved as of 2020. The ensuring symmetry of thought. ence in energy law, legal 2020, and although that in average age of the firm's technology, family law, itself is impressive, the cutlawyers today is 25, and the personal injury, litigation, Clients Satisfaction quality of the service provided down on operating cost immigration, insurance, (OPEX) was particularly telling has spiralled upward. With intellectual property, real of the firm's financial growth. dynamic leadership, the firm The firm represented the estate, project finance, The firm is on course to beat now positions as one of the Central Bank of Nigeria, who corporate restructuring, these numbers in 2021, having was sued to the tune of N6 leading tech law firms in banking and securities, recorded a further 20% cutAfrica, and this goes beyond Trillion, a case in which the company secretarial services, down in OPEX in Q1 and Q2 of bank was clearly in default. tech law, but also the infrajoint ventures and taxation, 2021. structure of the firm. 80% of Through the firm's diligent foreign investments and the firm's processes today are representation, the bank only corporate investigation, as well online, and all of its lawyers had to pay the sum of N500 Innovation in client service as litigation and dispute are tech-savvy, with some Million in settlement. The firm delivery: resolution. being developers. For example, had punctured the Claimant's a lawyer built, manages, and case so effectively that they Again, this led the firm back to Strategic vision and strong handles the website of the firm. had to settle for that, or risk almost complete automation of leadership: going with nothing. The the firm. The firm used to have feedback from the bank has Strong financial management clients come in for interviews been more cases, all highThe firm had only two growth: and counselling, today and profile of which the bank uses dominant practice areas as of since early 2019, clients do not the best hands.

2018, viz dispute resolution For starters, the firm's finance have to come for anything at

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LAW FIRM OF THE YEAR (MID SIZE) OMAPLEX LAW FIRM NOMINEES: SOLOLA & AKPANA, THE PENTHOUSE SOLICITORS, BLOOMFIELD LAW PRACTICE, RESOLUTION LAW FIRM, DUALE, OVIA & ALEX-ADEDIPE, OMAPLEX LAW FIRM

Omaplex Law Firm (“The Firm”) is one of the leading law firms in Nigeria that came about as a result of the merging of great law firms established with the purpose of bringing specialists that have gained experience for over 10 years in different areas of law practice in order to provide the highest level expertise to their clients.

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he firm consistently offers the highest level of professional services to all their

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clients both home and abroad due to their wealth of experience, and their work cuts across multiple jurisdictions and the interrelationship between civil, criminal and regulatory practices and procedures.

The team of lawyers have developed extensive experience in energy law, legal technology, family law, personal injury, litigation, immigration, insurance, intellectual property, real estate, project finance, corporate restructuring, banking and securities, company secretarial services, joint ventures and taxation, foreign investments and corporate investigation, as well as litigation and dispute resolution.

Strategic vision and strong leadership: The firm had only two dominant practice areas as of 2018, viz dispute resolution and general corporate law.

Under two years, however, with a clear vision and serious leadership, the firm now commands six more major practice areas, with sub-areas under them. These are; tax, finance and securities, energy, international trade, tech law, and intellectual property departments. The firm had a vision of being a majorly young lawyer's hub while maintaining and upgrading its financial management growth is succinctly represented services, and this it has during the heat of the Covid-19 achieved as of 2020. The pandemic. Due to the average age of the firm's automation of the firm's lawyers today is 25, and the quality of the service provided processes and infrastructure, the firm was able to cut down has spiralled upward. With dynamic leadership, the firm at least 45% of its expenses in 2020, as opposed to 2019. The now positions as one of the result was a 100% increment in leading tech law firms in Africa, and this goes beyond the salaries of its staff and an expansion into new areas. The tech law, but also the infrafirm's finance grew by 25% in structure of the firm. 80% of the firm's processes today are 2020, and although that in online, and all of its lawyers itself is impressive, the cutdown on operating cost are tech-savvy, with some being developers. For example, (OPEX) was particularly telling a lawyer built, manages, and of the firm's financial growth. handles the website of the firm.The firm is on course to beat these numbers in 2021, having recorded a further 20% cutStrong financial management down in OPEX in Q1 and Q2 of growth: 2021.

For starters, the firm's finance Innovation in client service and accounts officer is a delivery: lawyer. A certified financial expert as well. The firm's Again, this led the firm back to

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almost complete automation of the firm. The firm used to have clients come in for interviews and counselling, today and since early 2019, clients do not have to come for anything at all. For every service, the firm provides an e-form to clients with simplified questions geared towards eliciting relevant information for prosecuting their cases/deals, after the initial video conferencing. The firm also adopts live documents shared with the clients, from which edits and reviews are done, this has saved time and ensured the clients are involved in the build-up to their case or the structuring of their deals.live documents are also employed in-house to enable counsels to work on a document concurrently, while seniors review them, the result of which is an almost complete work at the first go, bridging

the different review stages and ensuring symmetry of thought.

Clients Satisfaction The firm represented the Central Bank of Nigeria, who was sued to the tune of N6 Trillion, a case in which the bank was clearly in default.

Through the firm's diligent representation, the bank only had to pay the sum of N500 Million in settlement. The firm had punctured the Claimant's case so effectively that they had to settle for that, or risk going with nothing. The feedback from the bank has been more cases, all highprofile of which the bank uses the best hands.

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LAW FIRM OF THE YEAR (SMALL PRACTICE) STARK LEGAL NOMINEES: DEAL HQ PARTNERS, STARK LEGAL, PAVESTONES LEGAL

STARK LEGAL is a 21st century fully serviced commercial law firm in Nigeria that has consistently provided legal support to local and international corporate bodies, government agencies, non-government organizations and individuals.

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ver the years, like the mustard seed, the firm has grown in leaps and bounds and stayed a step ahead of their contemporaries by constantly challenging ourselves to bring new and original ways of thinking to the most complex challenges their clients face.

Forward thinking and commercial in their approach, with significant 'home-grown' problem solving experience, they are regarded as the firm of choice for complex and bigticket transactions and this is attested to by their track record of high value mandates. Their clients choose them because they know they understand the market, their goals and objectives, and offer them the experience, innovation, technical expertise, clarity of advice and full commitment to get their deals done efficiently and most effectively.

Strategic vision and strong leadership: Notwithstanding its five years of existence, Stark Legal has consistently and effectively provided strategic solutions to the specific needs of clients, in order to ensure that the business objectives of their clients are met and surpassed at all times. The Firm provides legal advisory and representation services on a wide range of issues spanning several practice areas, which are at the core of their professional expertise.

The Firm offers uncompromising commitment to excellence expected of a top firm and a distinctive way of thought, work and efficiency. Through an effective understanding of the market, Client's goals and objectives, experience, innovation, technical expertise, 80 | Esq Legal Practice

clarity of advice and full commitment to deliver value on all assignments they undertake, the Firm consistently aims for excellence in service. Indeed, the pillar upon which the Firm's vision rests and which has been tested and proven to be true over the years is our guiding motto "Pursue Excellence and Success Will Follow".

growth: The Firm has navigated the stormy period of the Nigerian recession by identifying key areas and niche to position the firm in order to take advantage of existing business opportunities for the survival of the Firm.

Firstly, the Firm ensured that its fees were competitive and The Firm always strives for affordable for companies excellence and success by a whilst retaining the high culture of recruitment focused standard of service delivery for on selecting the brightest each and every client. This led minds, and developing both to a surge of clients engaging top-tier technical legal, and the services of the firm, and interpersonal skills, which relationships which have enables them consistently blossomed post-recession deliver world-class service period. tailored to the preferences of their clients.

Secondly, the firm aggressively increased its social media and Under the leadership of Ms. networking activities to create Mojisola Olugbemi, the Firm a strong presence in the legal has set up a full-service law space. By regularly posting firm in the Central Business Newsletters and Client alerts, District of Abuja and has also as well as creating video formulated strategic alliances content to inform potential and partnership with law firms investors on market trends, the in Uyo, Benin, Port Harcourt Firm was able to position itself and other south western states. to bring the following The Firm has employed the use multinational and government of smart collaborations to agencies on board; Lufthansa conduct traditional business German Airline, Mobil activities which allow the firm Producing Nigeria Unlimited, to meet the urgent and diverse Department of Petroleum needs of old and new Clients Resources, NNPC, FIRS, in any part of the federation. It NPDC, Matrix Energy Limited, is worthy of note that Stark Sahara Energy to mention a Legal represents clients in the few. telecommunications and aviation industry such as Another insightful strategy of Lufthansa German Airline, MTN Communications Nigeria the Firm was the foresight into Limited, IHS Nigeria Limited the rise of defaulting loan facilities and surge in debt with business activities and operations spanning the nukes recovery instructions during and crannies of the Federation. the recession. This allowed the firm to land instructions from As such, the Firm is strategivarious financial institutions cally positioned to respond efficiently and speedily to any such as Guaranty Trust Bank, Access Bank and Keystone of the clients' needs all over Nigeria, providing consistent Bank. exceptional quality of work and professionalism on each engagement.

Strong financial management and

Clients Satisfaction As part of its objectives to continue to adopt more effective legal services and in a bid to continue to evolve, the Firm has adopted several innovative solutions. Earlier this year, the law firm held the inaugural edition of its breakfast knowledge sharing and networking event. The event, titled Stark Illuminate will continue to feature various themes across different sectors of the Country and also span across different legal issues.

The theme of the first edition was titled Consumer Protection in the Aviation Industry: Trends and Developments and sought to sensitize the general public, regulators, and stakeholders on the new Federal Competition and Consumer Protection Act (FCCP). The results were instant and ideas such as this, have helped to effectively enhance client service in a very effective manner. It is worthy to note that a lot of government authorities only became informed about the new FCCP Act as a result of Stark Illuminate.

From a technological standpoint, the firm engaged the services of Next Soft, an information technology consulting firm, set up to empower business transformation by creating an environment for capacity enhancement. As a product of this engagement, Stark Legal utilizes its sophisticated and effective legal Application software which serves as a fully customizable practice management solution. With this innovative tool, the firm's practice management system leverages information technology and has been upgraded to manage and track cases from the first contact through to the last fee payment effectively without hassle.

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LAW FIRM OF THE YEAR (LARGE PRACTICE) ALUKO & OYEBODE NOMINEES: G. ELIAS & CO, ALUKO & OYEBODE, AELEX, ADVOCAAT LAW PRACTICE, JACKSON, ETTI & EDU

Aluko & Oyebode is one of the largest integrated law firms in Nigeria providing a comprehensive range of specialist legal services to a highly diversified clientele including top-tier Nigerian, international and multinational clients.

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in policy reforms and its partnership's involvement in the implementation of groundbreaking initiatives and milestones. The Firm's Partner, Babatunde Fagbohunlu, SAN is the Co-Visioner of the As a Firm, they are aware of COVID-19 ADR Initiative the importance of staying (CADRI), a platform created to vibrant and conforming to provide speedier, cheaper, and their fast-changing world of effective resolution of landmark technological commercial and contractual innovations and scientific disputes even during the discoveries. In this regard, COVID-19 pandemic. He is effective January 1st, 2021, also a trustee of CRID-LawNet, Reginald Udom assumed the a non-advocacy group that new role of Managing Partner, promotes and advances best taking responsibility for practices in resolution of leading the team of the next commercial disputes in generation of leaders within Nigeria. The group's flagship the Firm. Reginald's commitproject is the drafting of the ment to the Firm and their Administration of Civil Justice Established in January 1993, clients will serve them well as Bill, 2018. The Bill has been the firm has 18 partners, 102 they continue to reinvent the introduced in several states in Senior Associates/Associates Firm of the future. A Partner Nigeria but Ekiti State took the with a varied areas of expertise for the past 10 years, Reginald lead by enacting the bill into and combined experience that is already a member of the law in 2019. spans several decades in all Firm's Management Board, areas of Nigerian law, and a and he has over 19 years' Some of the Firm's other full complement of highly experience in international leadership roles in the qualified professional staff, debt finance transactions with offices in three Nigerian having joined the Firm as a law Nigerian legal industry include: cities: Lagos; Abuja; and Port graduate.

Harcourt.

reas of the Firm's specialisation include: Admiralty and Shipping; Aviation; Banking and Corporate Finance; Capital Markets; Compliance and Investigation; Corporate and Commercial Practice; Energy and Natural Resources; Intellectual Property; Litigation and Arbitration; Media & Technology; Mergers & Acquisitions; Power and Infrastructure Finance; Privatisation; Public-Private Partnerships; Real Estate and Construction; Taxation; and Telecommunications.

Nigeria providing a comprehensive range of specialist legal services and providing leadership roles within the Nigerian Legal Industry.

Gbenga Oyebode, Of Counsel, chaired the Technical Committee on Conference Planning (TCCP) for the 59th Annual General Conference (AGC) of the Nigerian Bar Association (NBA) held in Lagos from 23rd – 29th August 2019. Gbenga Oyebode, Of Counsel,Partner, Also, the Firm attained an Chukwuka Ikwuazom and historical feat of being one of Senior Associate, Tosin Iyayi the few law firms in Nigeria to were members of the TCCP for have produced four (4) Senior the historic 60th and First Advocates of Nigeria. This was Virtual AGC of the NBA, possible with the recent which was held from 26th – conferment of the Firm's 29th August 2020.

Partner, Chukwuka Ikwuazom with the rank of Senior The Firm's Chairman, Kofo Advocate of Nigeria, an Dosekun was inducted into equivalent of the English The Legal 500 Hall of Fame, Queen's Counsel. making her the first and only Strategic vision and strong lawyer in Nigeria to be leadership The Firm continues to maintain recognised by The Legal 500 strong leadership in the for her work in Banking, The Firm's strategic vision is to Nigerian legal industry Finance and Capital Markets. be the premier law firm in through its major involvement

The firm was named the Nigerian law firm of the year 2010 by Who's Who Legal, 'Law Firm of the Year' at the 2015 Law Digest Awards; 'Law Firm of the Year' at the 2016 ESQ Nigerian Legal Awards; 'Exceptional Deal Advisor of the Year' at the 2017 Private Equity Africa Awards; and ranked a top tier firm at the Legal 500 in 2017; 'Nigeria Law Firm of the Year' at the Chambers Africa Awards 2018, and a top-tier law firm by the IFLR 1000 in 2018; and 'Law Firm of the Year' at the 2019 ESQ Nigerian Legal Awards.

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The Firm's former Managing Partner, KofoDosekun is now the Chair of the Firm's Management Board while their former Chairman, Gbenga Oyebode is now an Of Counsel.

She is the recipient of the Women in Business Law Award at the inaugural 2020 IFLR Sub-Saharan Africa Awards.

The Firm's Chairman, KofoDosekun and Partners, Olubunmi Fayokun and Oghogho Makinde were also named IFLR1000 Women Leaders for 2020 and 2021.

The Firm's Managing Partner, Reginald Udom was a resource person to the Central Bank of Nigeria on the Regulatory Framework for Sandbox Operations in Nigeria.

The Firm's Partner, Uche Nwokocha was named as one of the Top 250 Women in IP 2020 by Managing IP. She was also named Trademark Star for 2020/21.

Oludare Senbore and Ayodeji Oyetunde, Partners at the Firm were resource persons to the Federal Competition & Consumer Protection Commission (FCCPC) in the drafting and review of the Merger Review Guidelines.

The Firm's Partner, Funmi Otsemobor was also appointed as a member of the NBASection on Business Law (NBA SBL) Council. Prior to this, she was the secretary of the finance committee of the NBA SBL. The Firm regularly supports different initiatives by Women in Management and Business and Public Service (WIMBIZ), Harvard International Arbitration Law Students Association, Cambridge University African-Caribbean Society, the ICCAfricaRegional Arbitration Conference and many more.

Strong financial management and growth To increase the Firm's share of wallet from its existing clients, they have created a client retention programme that is

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targeted to their Top 30 clients.

Through this programme, the assigned Relationship Partners/Engagement Team coordinate regular client calls, bespoke trainings, regulatory reviews, and industry articles.

The Firm's strong financial management policies and principles ensures that the Firm continues to have one of the highest profit margins of any Nigerian law firm Clients Satisfaction The Firm made significant technological investments which include upgrading its time-capturing software to a more advanced software called Intapp and fully implementing its Al-assisted document management system to improve productivity, invoicing processes, efficiency in drafting contracts, and conducting legal due diligence.

The Firm has an operating profit margin in excess of 40% which far exceeds any other law firm of its pair.

The employees are being trained on document version control, knowledge management, document tagging, email linking and many more. This will be a first by any Nigerian law firm.

The Firm has also deployed Microsoft Planner to manage project tasks while working from home.

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Significant client wins and feedback

The Firm recently secured a landmark victory for Brasoil in a suit instituted by the Federal Government of Nigeria (FGN), The Firm recorded the claiming the sum of $54 following major business Million against Brasoil for winnings in 2020: failure to declare 499,000 barrels of crude oil shipped out The Firm acted as Nigerian of Nigeria in 2011 on the counsel to China Development “OVERSEAS REBECCA”, Bank in connection with a without declaring it to the US$629,000,000 loan to Lekki relevant pre-shipment Port LFTZ Enterprise Limited inspection agencies. for the construction of the Lekki Deep Sea Port, Nigeria's The Firm advised MTN first deep seaport. This project Nigeria Communications Plc was to build the first deep on the establishment of its seaport in Nigeria.

200,000,000,000.00 Bond Issuance Programme and the issuance of the The Firm acted as Nigerian legal counsel to Stripe, Inc. (the 110,000,000,000.00 Series 1 Bonds. The Transaction is the “Acquirer”) in respect of the first bond issuance by a offshore acquisition of Nigerian telecommunications Paystack, Inc; the parent company and one of the largest company of Paystack Payments Limited. The complexity bond issues by a corporate of the deal arose from its novel entity in the Nigerian market. nature in Nigeria, and this being the largest private The Firm acted as counsel to equity/ technology deal in the initial purchasers on the Nigeria till date as well as the issuance of US$500,000,000.00 largest acquisition by the Notes due in March 2025 and Acquirer.

US$800,000,000.00 Notes due in September 2027 by IHS Netherlands Holdco B.V., a The Firm acted as sole legal adviser to The Nigerian Stock member of the IHS Group. The Exchange (“The Exchange”) in Firm also advised on the US$650,000,000.00 loan connection with the transaction which was demutualisation and restruccompleted alongside the Notes turing of The Exchange. The issuance. Both transactions demutualisation of The Exchange, a first in Nigeria, is cumulatively won the Corporate Debt Deal of the a landmark transaction that Year Award at the Bonds, has generated intense global Loans & Sukuk Awards, 2020. interest.

The Firm advised on the development of the Segilola gold project, a high-grade gold development project in Osun State Nigeria. The project is the first of its kind in Nigeria.The Firm won Nigeria Project Finance Firm of the Year at the inaugural IFLR Sub-Saharan Africa Awards 2020.

The Firm advised Crown Flour Mills, a subsidiary of Olam International in connection with the acquisition of the entire shareholding of Dangote Flour Mills Plc, a Nigerian publicly quoted company involved in agro-business through a scheme of arrangement. The transaction was nominated for the Domestic Deal of the Year at the inaugural IFLR Sub-Saharan Africa Awards 2020.

The Firm represented five separate consortia of IOCs on five deep offshore blocks, against claims by the Federal Government of Nigeria for alleged outstanding revenue due from production sharing contracts, up to the tune of US$27bn. The simultaneous instructions to the Firm from five of six affected deep offshore blocks on this industry-wide issue confirms the Firm's pre-eminence in commercial dispute resolution, and especially international arbitration.

www.esq-law.com

www.esq-law.com

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IN-HOUSE CATEGORY

FINTECH TEAM OF THE YEAR KUDA MICROFINANCE BANK LIMITED NOMINEES: KUDA MICROFINANCE BANK LIMITED, FLUTTERWAVE, BRANCH, PAYSTACK

Kuda is Nigeria's first mobile-only bank licensed by the Central Bank with zero card maintenance fees, free transfers, and automatic savings.

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ounded in 2019 by Babs Ogundeyi and Musty Mustapha, Kuda has been on a consistent upward trajectory since 2020, growth that the bank credits to aggressive marketing, an improved banking app, and increased adoption of digital banking since the COVID-19 pandemic broke out.

$55 MILLION SERIES B FUNDRAISING: In July 2021, Kuda completed a Series B fundraising round of $55 million, taking the company's valuation to $500 million.

Furthermore, the legal team coordinates board meetings and ensure that all necessary considerations are deliberated upon. I also coordinate necessary filings at the Corporate Affairs Commission.

How the legal function underpins the organisation's strategy:

Kuda's ethos is convenient and driven by customer-centric banking. The legal department is central to the delivery of these services as they (together Excellence in leadership (What leadership role do you occupy in Innovation, either in transactional with the Compliance Team) the industry): work or regulatory or compliance have to review and approve issues: services and product offerings before they are launched to The legal team is primarily responsible for the company's The legal team is composed of ensure that there are no infractions of the laws that The company was recently in day to day legal affairs which lawyers with a compact background from leading and regulate them. In this regard, the news for winning the include a wide range of legal modern corporate law firms in they may request that some coveted 'Neobank of the Year' and regulatory assignments. components of a service or Nigeria, and they strive to award at the 2021 BusinessDay The legal team advises all product offering be revised or ensure that the bank's BAFI (Banking and Financial departments of the bank, to remodeled to achieve approach to legal issues is both Institutions) Awards, just ensure the smooth running of compliance. They are, innovative and solutionweeks after winning the Inthe bank in compliance with however, mindful not to driven.

House Legal team of the Year applicable laws. They also whittle the effects of these Award at the 2021 ESQ coordinate with external services and product offerings, Nigerian Legal Awards. counsel to review court A particularly interesting so they have also had to come processes and assess the risks element of the Series B up with innovative ways to the company.

With regard to Lead cases: fundraising was that current (within the bounds of the law) fund raising exercises, the legal employees of Kuda were to ensure that the bank's team review the transaction allowed to participate as overall objectives are achieved. $25 MILLION SERIES A documents on behalf of the investors in the United FUNDRAISING: In March company from a Nigerian law Kingdom-based parent 2021, Kuda completed a Series perspective, and liaise with company of the bank through A fundraising round of $25 foreign and local external an investment vehicle set up in million. counsel, where necessary.

Nigeria.

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TELECOMMUNICATION TEAM OF THE YEAR MAIN ONE CABLE COMPANY LIMITED NOMINEES: MTN, MAIN ONE CABLE COMPANY LIMITED, NATCOM DEVELOPMENT & INVESTMENT LIMITED

MainOne is a leading provider of innovative telecom services and network solutions for businesses in West Africa. its world-class system of cable networks and fiber optic infrastructure enhances the productivity and profitability of our customers.

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he firm operates the only Tier III certified data center in West Africa certified as an SAP Infrastructure Hosting Partner, in addition to ISO 27001, ISO 9001 and PCI DSS certifications. We own the region's first private submarine cable, a 7000km submarine cable system from Europe running down the coast of West Africa, and have invested in infrastructure across West Africa which includes a next generation IP NGN network and growing regional and metro terrestrial fiber optics network.

The firm was founded by Funke Opeke who after returning to Nigeria in 2008 and being frustrated by the country's low internet connectivity. She started Mainstreet Technologies, the developers of MainOne Cable in the same year, to serve as a service and network solutions provider, not only in Nigeria but in West Africa.

The legal team of main one cable has played a significant part in this accomplishment.

Excellence in leadership:

The Legal team managed the intense negotiation and documentation of the complex transaction involving the following:

Ÿ MainOne and its subsidiary have won an average of three awards annually in its years of operation. The company has received over 30 awards from local and international groups, within and outside the IT industry. The most prominent awards accorded to MainOne and its subsidiary include; the NTITA Internet Service Provider of the Year (Enterprise) Award; Datacloud Africa Award for Excellence in Data Centre (Africa); Africa Cloud Service Provider of the Year; NTITA Telecoms Wholesale Ÿ Provider of the Year; BoICT Award for Best Tier III Data Centre in Nigeria, among others. www.esq-law.com

Ÿ

The Legal team was instrumental in the project financing and build-out by MainOne Cable Company of 186km and 200km of subsea cable and electronics from the Cote D'Ivoire and Senegal BranchŸ ing Units to Abidjan, Cote D' Ivoire ( Abidjan System) and Dakar, Senegal (Dakar System) respectively, terminating at the MainOne Cote D'Ivoire cable landing facility in Abidjan ( Abidjan Terminal Station) and the Sonatel cable landing facility in Dakar ( Dakar Ÿ Terminal Station) ("the Project").

the design, manufacture, supply, installation, commissioning, and support for the Abidjan and Dakar Systems, including the provision of installation and commissioning of dry plant and the provisioning and installation of the submersible equipment, in accordance with the Supply Contract for supply and delivery of the system by the Supply Contractor, TE Subcom on DAP Incoterms basis; the completion of the Marine Installation and Shore-End Works by Orange Marine specialized vessel, Pierre de Fermat vessel under the terms of

the Professional Services the negotiations to secure Agreement between the the required Project Supply Contractor, funding as well as MainOne and Orange managed the intercreditor Marine as Subcontractor; mechanics in relation to leveraging existing security the delivery by MainOne for the new project and subscription by funding.

Orange and its affiliates of Ÿ Aside from negotiating the connectivity rights supply and delivery of the including spectrum and Systems including colocation services under negotiating the crossing of the terms of a Spectrum some offshore oil fields in Subscription Agreement; the build-out of the the procurement and Systems, the Legal team delivery of connectivity was responsible for the rights on the Abidjan procurement of requisite System and terminating operational licenses in party rights at the Abidjan Abidjan and Senegal and Terminal Station to Orange compliance with all

by MainOne on an regulatory requirements in indefeasible right of use these jurisdictions. basis; and Ÿ The legal team also the supply and provision undertook a corporate of international connectivinternal restructuring of ity services to Sonatel on the group companies in the Dakar System order to ensure asset terminating at the Dakar recognition and cost Terminal Station including allocation amongst the the installation and subsidiary companies as a commissioning of the dry result of the new assets plant and provision of the arising from the buildout submerged wet plant in of the Systems. accordance with the Senegal Supply Contract; and How the legal function underpins the organisation's strategy:

the construction of the Abidjan cable landing station and data center.

Innovation, either in transactional work or regulatory or compliance issues: Ÿ

As gatekeepers of the Company across its various jurisdictions, the legal team has (a) created efficient and simplified processes and documentation templates to The Project was financed as aid commercial sales of our products; (b) mitigated any an on-balance sheet potential regulatory breaches recourse-based project finance with an aggregate or penalties by developing robust compliance framework value of $20million across all jurisdictions and commencing September automating its administration 2018 with a Ready for and supervision on a regular Service and Commercial basis; (c) acquired significant Launch of the systems knowledge and expertise on occurring in November the laws and regulations in 2019. The Legal team led Esq Legal Practice | 85

each of the jurisdictions where we operate thus ensuring that the Company is able to structure its transactions and deliver its services optimally in these markets.

How the team has made the legal

function integral both to the decision-making process of the company and also to the overall company strategy: The Legal team at MainOne is involved in the day-to-day operations of the Company

across all the five (5) countries where the company is situated, advising all Internal Stakeholders/Teams on Legal and Regulatory issues as they arise.

They are also involved in all the key projects embarked on by the Company in all its

operational Jurisdiction, from the Tender stage, to the execution and operationalisation stages.

CORPORATE RESTRUCTURING TEAM OF THE YEAR DCSL CORPORATE SERVICES NOMINEES: JCS CLIENT SERVICES, DCSL CORPORATE SERVICES, ADCAX NOMINEES LIMITED

DCSL Corporate Services Limited is a private limited liability company providing company secretarial, governance, immigration, executive selection, business advisory and training services to diverse clients across sectors in Nigeria.

How the team has made the legal function integral both to the decision-making process of the company and also to the overall company strategy

As a team of Lawyers and corporate governance specialists, DCSL strives to remain relevant in the conception of laws and The firm's vision is to be the Innovation, either in transactional regulations relating to their preferred corporate services work or regulatory or compliance service offerings and particuprovider in Nigeria and their issues larly, in remaining abreast mission is the pursuit of with the laws that affect their excellence in service delivery.

How the legal function underpins Excellence in professional clients' business operations.

They have shown core the organisation's strategy services is largely dependent The legal function is the competencies in all service on the quality of the people fulcrum of DCSL's service areas and sustained relationproviding them. Clients To effectively advise clients on offerings, and a review process ships with various regulators require a team that underevolving legal and regulatory is integrated into all engageto create value for their clients. stands their business and matters, it is important that the ments to ensure compliance They have an impressive industry, as well as the key firm keeps abreast of legal, with laws and regulations and portfolio of diverse clients issues they face in a highly statutory and regulatory monitor the impact on the across various sectors of the competitive market. DCSL provisions and enactments as company's business and those Nigerian Economy, and they consistently aims for this they evolve. To keep a firm of their clients. Thus, major deliver a competitive fee excellence, and are confident grip on statutory provisions decisions touching on the agreement, which is both time that they can meet their clients' relevant to DCSL's service provision of services to clients and value based. DCSL expectations. The key offerings, constant communi- are taken in the context of the currently plays a central role in differentiator between DCSL cation is maintained with the applicable laws and cognisance the provision of corporate and their competitors is their Nigerian Legislature and key of the impact of such laws on governance services to leading people – their knowledge, Regulators with a view to the overall service offerings of companies in the financial experience, and values. The ensuring that inputs are made the Company. services and other sectors and firm's clients are assured of to exposed legal and regulais the lead governance adviser access to senior team members tory drafts prior to their on the evaluation of boards of so that the greatest benefit can finalization and enactment. first tier banks, and major be derived from proactive This is a critical function of the FMCGs in Nigeria. They have business advice. Clients will legal unit and it aims at clearly set themselves apart see a consistency of style, ensuring that the firm is from the pack as a result of approach and continuity of always ahead, as laws and their professionalism and their their team that will genuinely regulations evolve. approach to governance deliver quality service. At the Excellence in leadership (What leadership role do you occupy in the industry)

engagements, which is to achieve Board and organizational effectiveness

onset of the Covid-19 Pandemic, DCSL promptly deployed a Business Continuity Plan which enabled them to seamlessly continue to support their clients remotely and efficiently.

OIL AND GAS TEAM OF THE YEAR NIGER DELTA EXPLORATION AND PRODUCTION PLC (NDEP) The Niger Delta Exploration and Production Plc (NDEP) is Nigeria's first integrated oil and gas investment firm. Late Chief Godwin Aret Adams, a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), and other highly recognized professionals collaborated to establish a truly indigenous public oil firm.

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ncorporated in 1992 as the Midas Drilling Fund, the company went ahead and changed its name to its current one in November, 1996. The company's founding fathers had a vision of creating a vehicle that would allow ordinary Nigerians to participate in and benefit from the country's oil and gas industry. NDEP has over 700 shareholders, who come from every geopolitical zone in the country, despite the fact that it is not yet listed on the Nigerian Stock Exchange.

NDEP began field development operations in 2004 with finances from its initial owners and a loan from a local bank (Intercontinental Bank Plc), leveraging not just local capital but also indigenous oil production services from local contractors. It produced its first oil on August 28th, 2005, and has successfully produced approximately 16 million barrels of crude oil from the ten wells it has dug thus far, without any host communityinduced delays. The company

pioneered the development of small and medium-sized oil and gas fields in Nigeria, using a professional staff and efficient operations, and have since moved on to larger projects.

Titi Omisore, the powerful corporate secretary and group legal adviser, leads the NDEP legal staff. Titi oversaw one of the most important departments in the organization, negotiating and providing expert guidance to the Today, NDEP is a major oil company's transactional and gas investment firm. The corporation, through its wholly activities. Because of its commendable and painstaking owned subsidiary (NDPR), efforts, the team has been the remains Nigeria's leading brains behind many of the indigenous and independent operator of small to medium- organization's successes.

Through strategic thinking, the sized fields. NDEP is conteam used excellent and stantly looking for new ways innovative leadership skills to to increase production, share overcome its challenges. expertise, and form partnerships in the oil and gas industry. In 2013, NDPR Innovation, either in transactional work or regulatory or compliance signed an MOU to form a issues: Strategic Partnership with South Sudan's State National Oil Company, Nile Petroleum The legal team has been Corporaffirion (NILEPET). The innovative in how the MOU formalized the ongoing company's gas sales and buy cooperation between NDPR agreement is implemented and the NILEPET, which has (GSPA). The legal team was included bilateral visits and an crucial in developing efforts examination of NDPR's that decreased the company's operational facilities in Ogbele, burden and assisted the Port Harcourt. company in meeting its financial obligations to its gas provider.

Excellence in leadership:

How the legal function underpins the organisation's strategy: In many critical areas of operation, the legal functions form the structure of the company's operations. The legal department advises the commercial department in particular, as well as all other departments, to ensure that the company's commercial transactions are in line with its strategy and vision. Systemic risk is assessed and managed by the legal department. It guarantees that corporate governance mechanisms are in place to ensure that the organization's operations and processes run smoothly in order to achieve its goals.

BANKING AND FINANCE TEAM OF THE YEAR STERLING BANK PLC NOMINEES: STERLING BANK PLC, STANBIC IBTC, ZENITH BANK, ECOBANK

Sterling Bank Plc (the Bank) is a merchant bank engaged in commercial banking with focus on retail and consumer banking, trade services, corporate, investment and non-interest banking activities.

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he Bank provides wholesale banking services, including the granting of loans and advances, letter of credit transactions, money market operations, electronic and mobile banking products, and other banking activities. It operates through four segments: Retail Banking, Commercial Institutional Banking, Corporate Investment Banking and Non-interest Banking. Corporate banking provides banking solutions to multinational companies and other financial companies. The Retail and Commercial banking segments provide banking solutions to individuals, small businesses, partnerships and commercial entities.

The Non-Interest banking segment provides solutions that are consistent with Islamic laws and guided by Islamic.

The Treasury conducts its financial advisory and securities trading activities.

The legal team of Sterling Bank Plc provides clea, concise and

member's opinion and ideas regardless of grade and constructively criticizes where necessary. This encourages dynamism and confidence in practical advice, with timegender, such talents are able to the team. bound deliverables, to support come up with initiatives that its clients' business objectives. result in quick solutions to Innovation, either in The team's innovative and problems faced in the Bank. transactional work or pragmatic solutions extend regulatory or compliance beyond law to suit clients' issues: The impact of the ongoing business needs. The legal team COVID-19 pandemic on carries on a full-service businesses worldwide did not The Bank has a driving passion practice cutting across related exclude Sterling Bank. to fund the HEART (Health, areas of legal work.

However, under the proactive Education, Agriculture, leadership of the Company Renewable Energy, and Excellence in leadership: Secretary/Chief Legal Counsel, Transportation) sectors in the team successfully digitized Nigeria. The Bank has created a significant number of its an innovative product in the The legal team of Sterling Bank processes. Noteworthy are the renewable energy space, called Plc (the Bank), headed by the digital storage of files and the IMPERIUM, which seeks to Chief Legal Counsel & use of electronic signature bridge the gap in energy Company Secretary, Temitayo team members to ensure demands within Nigeria. It is Adegoke is committed to the business continuity. The designed to provide an growth of the Bank. The team Company Secretary as lead ecosystem that brings together provides quality legal support sponsor also recorded the end users, funding agencies, and in line with the strategic successful deployment of the energy solution developers, objectives of the Bank, deliver Bank's Electronic Letterhead technical support services and innovative solutions that solution which provides an regulators with a view to enhance stakeholders' value. electronic means of authenticonnecting the demand and cating documents that emanate supply for renewable energy The leadership of the legal from the Bank. This solution is sources. Imperium was team ensures that only the the first of its kind in the launched in July 2020 on the right talents are recruited to fill banking industry.

Bank's Alternative Finance in roles on the team. They have retail platform known as also created an enabling Altmall.

The Chief Legal Officer environment for talent such ensures inclusivity in the team that regardless of age or by listening to every team How the legal function underpins the organisation's strategy: The Legal department is strategically positioned to ensure that the vision of the Bank aligns with the departmental mission and core values.

The vision of the department is to be the Bank's leading solution provider through excellent legal service delivery while enhancing stakeholder's value. They ensure that this is achieved in their daily engagements with all stakeholders and partners involved in the entire value chain driving Imperium and other innovative products in the Bank.

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ENERGY AND POWER TEAM OF THE YEAR IBOM POWER COMPANY LTD NOMINEES: EKO ELECTRICITY DISTRIBUTION PLC, IBOM POWER COMPANY LTD company's gas sales and

Ibom Power Company Limited, one of the first Independent Power purchase agreement (GSPA).

The power sector is a value Producers in Nigeria, is a gas fired power generating plant located in unfortunately, the Akwa Ibom State with licensed nameplate capacity of 685megawatts to be chain, company's GSPA is predicated developed in two phases. on 'take or pay'. However,

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hase 1 has an installed capacity of 191megawatts while Phase 2 has a planned capacity of 494megawatts.

In the year 2017, the company had a remarkable year as it received accolades such as Africa's Most Innovative Quality Power Generation Service Provider at the African Quality Awards, and also recorded an unprecedented 18hour steady power supply for the Akwa Ibom State Power Sector In parts of Uyo when the 33/11kV, 2 x 15MVA injection substation at 4-lane was commissioned and completed.

The negotiation has been rigorous particularly, for the fact that there is illiquidity in the power sector whereby it is difficult for the power generation companies to receive full payment on their Incorporated on the 15th invoices. The fact that cost for January 2001 by the Corporate parts for the maintenance of Affairs Commission of Nigeria the plant is denominated in when Nigeria began its reform dollars makes it more difficult. in the power sector. The The company has to work company is headquartered in diligently to keep its head Uyo, Akwa Ibom State with its above water. In order to power plant located at Ikot achieve this feat, the organizaAbasi LGA where it currently tions had to deploy excellent Excellence in leadership: operates its 191 MW Plant. and innovative leadership Ibom Power is recognized as a skills to overcome these registered participant in the One of the critical industry challenges through strategic Nigerian Electricity Supply documents that will guarantee thinking. The legal team have Industry. Committed to safety, regular income upon power also been innovative in innovative growth and evacuation and sale of power assisting in negotiating and personnel development, the to the Off taker is the Power trading of the company's company is 100% run by Purchase Agreement (PPA). make-up gas' to reduce its indigenous staff. The ComIbom power legal team had to liability to the gas supplier and pany was licensed by the find an ingenious way to to keep the company afloat.

National Electricity Regulatory operate in the sector with an Commission (NERC) on the interim PPA while negotiating 12th of May 2008 to generate Innovation, either in transactional a bankable PPA with its Off electrical power and has only taker. The process of executing work or regulatory or compliance issues: one customer- the Nigerian a bankable PPA has reached its Bulk Electricity Trading final stage as the company has Company.

The legal team has been met all the conditions for innovative in operating the executing the final PPA. www.esq-law.com

since the final PPA has not been executed, it has been difficult to manage the GSPA on a 'take or pay' basis. The legal team was instrumental in developing a proposal to change the principle of the GSPA to 'take and pay' where it will not be so burdensome to manage and will enable the company to meet its financial obligation to its gas supplier.

How the legal function underpins the organisation's strategy: The legal functions form the structure of the company's operations in many critical areas of operations. The legal department provides advisory services to the commercial department particularly and all other departments to ensure that the company's commercial transactions are back-to-back with its strategy and vision.

The legal department evaluates and manages systemic risk. It ensures that corporate governance structures are put in place to ensure that the organization has seamless operations and processes in achieving its goals.

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MANUFACTURING TEAM OF THE YEAR NIGERIAN BOTTLING COMPANY LIMITED NOMINEES: NIGERIAN BOTTLING COMPANY LIMITED, SEVEN UP BOTTLING COMPANY, B ERGER PAINTS NIGERIA PLC LTD

The Nigerian Bottling Company Ltd is one of the biggest companies in the non-alcoholic beverage industry in the country and is the sole franchise bottler of The Coca-Cola Company in Nigeria.

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he company serves approximately 160 million people by producing and distributing a unique portfolio of quality brands, bringing passion to marketplace implementation, and demonstrating leadership in corporate social responsibility.

relevant department from negotiation until the contract's Innovation, either in transactional work or regulatory or compliance execution. issues: Additionally, the team has efficiently handled dispute resolution which has led to a huge reduction in the company's litigation portfolio.

NBC legal has led a team of external advisers to develop a business and governance model for the establishment of a separate business division under the registered trademark name ”Spirit of Hellenic” to manage its entry into the premium spirit consumer market in Nigeria. Every member of the team is recognised as an expert in his or her own rights and is cherished by the various functions he or she supports as a valuable business partner.

The legal team is an integral member of all business projects and initiatives; easily accessible and always willing to provide support beyond legal services'.

The in-house legal team at the Nigerian Bottling Company (NBC) consists of highly skilled lawyers led by country legal director Abiodun Peters, a seasoned lawyer who brings her years of experience in the corporate commercial law scene to the role. The legal team is responsible for NBC's vast operations and multiple regulatory regimes across the various Nigerian states. The team has adopted a business partnering model to ensure that every function in the company is assigned a legal business partner who takes responsibility for the provision of legal services to the relevant Excellence in leadership: department.

For effective management and proper governance of the company's contracts, the legal team uses a Contract Management System which functions as a repository for both contract templates and signed contracts. The Financial Times, in its Innovative Lawyers 2020 edition commended Coca-Cola Hellenic for enabling innovation in contractual simplification and standardization. This innovation led to a significant reduction in the time spent on contract drafting and review while freeing up time for their lawyers to focus on more strategic work. The NBC legal team contributed to this innovation, and continues to leverage this to improve business performance.

Chain (ICSC) Project, completed in August 2020, the team simplified all supply chain related contract templates, and updated them with robust quality, safety and environment (QSE) provisions in line with their global standards.

Deployed a robust regulatory engagement strategy in managing taxes, levies and rates by conscientious negotiation and where necessary, challenge of arbitrary levies, through administrative or judicial means and this resulted in 57.7% tax savings for the period of January 2020 – July 2021.

How the legal function underpins the organisation's strategy:

The legal team participates in strategic business reviews, and validation of policies and procedures for business For effective tracking of initiatives. In addition, it matters and legal spend, the continues to provide needed team deployed the Legal guidance and support to Tracker, a matter management Management on risk mitigaand e-billing online solution tion and business continuity. It Recent years have been very developed by Thomson The team also undertakes proactively provides bespoke intense for the manufacturing Reuters, London. The Legal regulatory monitoring to Industry in Nigeria and for the Tracker was deployed in June, legal advice to the Company to forestall business disruption mitigate risk to its people and Nigerian Bottling Company 2020 and a good number of our assets during the COVID 19 and challenge arbitrary Limited [NBC or 'the Comexternal counsel had their regulatory demands. From pandemic, thereby playing a pany']. The legal team of the profiles created and their rates key role in contributing to 2015 to date, the team has company had to deal with uploaded in the solution. saved an enormous sum in delivery overall Company changes in legislation, tough challenging arbitrary demands. economic policies, sensitive goals.

Implemented a dispute litigation and regulatory matters. Notwithstanding the prevention and management The team takes proactive strategy, resulting in the team's size in comparison to measures and provides NBC's operations, the team has successful closure of 32 solutions to legal issues. In litigation cases (Jan 2020 – July continued to surmount these managing risk, the team is 2021) thereby averting an operational headwinds. responsible for contract exposure of approximately management, preparing N2billion, with only a 0.7 templates for contractual One of their objectives is to percent of this amount paid relationships and reviews to ensure compliance with out on negative judgments ensure the protection of the relevant laws that govern the within the period. company's interests. For high- company's business operalevel agreements with tions, whilst contributing to the potentially high exposure, the general organizational Through the company's team provides support to the Integrated Competitive Supply strategies.

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REAL ESTATE & CONSTRUCTION TEAM OF THE YEAR KNIGHT FRANK LAND WEY AND KNIGHT FRANK

Knight Frank is a leading provider of innovative estate agency, residential and commercial property consultancy. Founded in London in 1896, Knight Frank now has more than 500 offices across 60 territories and more than 19,000 people.

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he firm operates in locations where its clients needs it and provides worldclass property solutions for its clients and tangible value across property sectors and services through its local experts and globally informed team.

Knight Frank has been recognised globally, winning several awards. The firm was awarded four gold awards at the UK Customer Experience Awards 2019.

Through its deep understanding of key markets and sectors – both emerging and established – it aims to meet and exceed clients' real estate objectives. The firm guides its clients to be proactive rather than reactive in a fast-paced and ever-changing landscape on a local, national and global level.

Excellence in leadership:

www.esq-law.com

Innovation, either in transactional work or regulatory or compliance issues:

Knight Frank launched a really unique digital platform to which all of its clients and other departments have access, The legal team of Knight Frank allowing its teams to be has played a significant part in present and reducing request these accomplishments. turnaround time.

The Legal team runs a very tight ship. With all its cases being so diverse, the firm runs a high level of delegation which its legal team handles excellently.

How the team has made the legal function integral both to the decision-making process of the company and also to the overall company strategy: The company will not go ahead on any transaction or agreement or send out any narrative without input from its team.

How the legal function underpins the organisation's strategy:

Recruitment and retention initiatives

The legal team is the backbone of the organisation. Through the team, the firm is able to arrest 3rd party claims as well as facility management issues from service providers without being specific.

This firm tends to recruit relatively new and young team of lawyers, with an adept passion for the real estate business, who are revolutionizing how Real estate firms operate Esq Legal Practice | 89

CORPORATE GOVERNANCE TEAM OF THE YEAR JCS CLIENT SERVICES LAND WEY AND KNIGHT FRANK

JCS Client Services is a governance, compliance, and business support service provider. They provide services to Businesses (private and listed), NGOs, and Public Sector-funded Entities.

The firm uses a trio of experience, expertise and technology to cater for the compliance and governance needs of their clients.

They CREATE, STRUCTURE, and SUPPORT businesses and organisations with the aim of achieving commercial, ethical, and sustainable objectives.

By acting as company secretary to their clients, they ensure that adequate measures are put in place so that they fulfil their statutory obligations. Their support extends to in-house company secretaries.

Excellence in leadership: Jcs Client Services provides corporate governance solutions to businesses (private And listed), Ngos, And Public SectorFunded entities. The firm Provides compliance and governance Solutions To Doxxbet Sportbetting Nigeria Limited (“Doxxbet”), a private sport betting company and ensures that Its ownership structure as well as Its board structure are well articulated and that the company complies with regulatory requirements. The firm has proffered governance solutions to this company and others like Investment One Financial Service Limited, as well as assisted in the monitoring of its whistle-blowing policy and thereby facilitates the facility and ensuring quarterly report is sent to the board of directors.

Innovation, either in transactional work or regulatory or compliance issues: 90 | Esq Legal Practice

with the aid of technology and cloud media, JCS was able to advise its clients to invest in technological softwares that would ensure that their employees work effectively remotely, and to facilitate board meetings and committee meetings, as well as companies annual general meetings. Also, with the help of an innovative software – Convene App, the firm was able to convene meetings, coordinate the contributions of stakeholders of the meetings, as well as circulating the necessary documents required to be considered at the meetings.

Efficient management of external advisers In the course of providing services to its clients, the firm has had course to relate with regulatory agencies such as the Corporate Affairs Commission (CAC), the Lagos State Lotteries Board (LSLB) and the Trademark Registry Abuja. the firm was efficiently able to manage its relationship with these bodies to ensure that adequate compliance to rules and regulations are adhered to by its client.

How the legal function underpins the organisation's strategy: As company secretaries saddled with the responsibility to proffer governance solutions to their client, they have had the course to play advisory roles to their clients with respect to solving the

Recruitment and retention initiatives

JCS has a quarterly development initiative that ensures that all employees attend seminars, workshop and trainings, usually trainings and seminars organised by organisations such as the Institute of Chartered Secretaries and Administrators (ICSAN), Women in Business (WIMBIZ), Lagos Chamber of Commerce Institute (LCCI) and International Trademark Association (INTA), to ensure their continuous improvement in the provision of operational How the team has made the legal excellence of their duties and function integral both to the decision- responsibilities as company making process of the company and secretaries and industry leaders also to the overall company strategy: in the sector. dichotomy between the rights, roles, responsibilities and liabilities of their directors and shareholders. They have been able to structure and re-structure (where necessary) the organisation of their clients to ensure best practice and compliance with corporate governance. They have also advised the organisation on the provisions of the law on the rights of shareholders.

In the dispensation of their duties as company secretaries, they rendered advisory services to their clients in line with the provisions of the relevant laws and regulations and as to how their strategies and decisions are lawful and legally compliant.

Additional Relevant Information The JCS team thrive on excellence and expertise in the provision of technologically backed solutions to its clients.

They are innovative in providing structure and the required support to their clients in ensuring compliance with regulatory policies and corporate governance. They assisted a client in conducting its annual general meeting which had been outstanding for four years, especially during the pandemic in year 2020. JCS provides board advisory services under its governance and also ensures constant directors training and re-training

Unique Challenges Faced by the Particular Sector in which the Team Operates, and how these are Overcome The major challenge they faced in the course of the year was the pandemic; the inability to facilitate and hold physical meetings. However, this was overcomed by the innovative use of technology, softwares and cloud media to facilitate the required meetings convened.

Another challenge faced was inadequate awareness to businesses on the need for and importance of engaging the services of a company secretary.

The firm was able to overcome this through the provision of operational excellence, thereby leading to referrals from their existing clients.

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OPERATIONAL CATEGORY MOST INNOVATIVE USE OF TECHNOLOGY TEAM OF THE YEAR FLUTTERWAVE NOMINEES: KUDA MICROFINANCE BANK LIMITED, FLUTTERWAVE, BRANCH, PAYSTACK

Flutterwave is a fintech company that provides a payment infrastructure for global merchants and payment service providers. There has been a problem of fragmented payment in Africa.

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he African economy is growing very fast.

Due to the fastest growing economies in the world which are in African countries, there is a particular emphasis on the emergence of the financial technology sector. Fortunately, with the spread of mobile phones and the Internet across Africa, more people are exposed to the better option of digital financial services, both for individuals and businesses.

Flutterwave currently has over 1200 developers that build on its Developer's playground with a focus on building A round investments for an technology that is not only African startup and to date has flexible with awesome user raised over $20 million in experience but also provides a investments from companies payment technology that is such as Master card, CRE reliable and secure thereby Ventures Fin tech Collective, easing the fears of the average 4DX Ventures, Raba Capital user. among others.

Flutterwave raised one of the highest Series.

Also as part of the deal, Green Visor Capital Chairman & General Partner and former CEO of Visa, Joseph Saunders, This is a very beneficial has joined the Flutterwave advancement as every day Board of Directors. Joe, an more and more people experienced Venture Capitalist leverage on this technology to and Chief Executive Officer of have access to various online a multibillion-dollar financial digital platforms to make Services Company to effecpayments across the globe in tively continue operations ways traditional banking never post-funding phase. did as online transactions happen quickly and with ease.

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Flutterwave introduced the Flutterwave Store. The Flutterwave store provided an avenue for businesses to upload their products and start selling online while delivering a seamless shopping experience to their customers.

The Flutterwave store eliminated the cumbersome delivery set up and payment processing for its users, as Flutterwave helped businesses

owners in handling these issues.

In 2018, Flutterwave received the 'Best Payments Company' award at the Ghana eCommerce Awards ceremony.

Fast Company listed Flutterwave among 10 innovative companies in Africa in 2019.

Flutterwave won the Changing Africa Award at the 2019 AppsAfrica Innovation Awards in Cape Town.

In the Nigerian Legal award 2021, Flutterwave won the most innovative use of technology team of the year.

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REGULATORY TEAM OF THE YEAR CENTRAL BANK OF NIGERIA The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on July 1, 1959.

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he Central Bank of Nigeria (CBN) decided to develop this Regulatory and Supervisory Guidelines to provide a level playing field for participants in the Development Financing subsector and to further direct private capital to participating financial institutions (PFIs).

Nigeria.

Central Bank of Nigeria (CBN) has over the years, implemented various reforms and policies aimed at ensuring that the Nigerian banking sector remains reliable and capable of driving efficiency in economic activities.

As at February 2021, there were 29 licensed banks in These Guidelines will provide Nigeria (excluding a framework for licensing, microfinance banks, mortgage regulation and supervision of banks, specialised banks and both WDFI and Retail DFI other entities licensed by the (RDFI). Rather than compete CBN), comprising 22 commerdirectly with RDFI at the retail cial banks, five merchant banks market, WDFI shall mainly and two non-interest banks. provide wholesale financial products (at least 80 percent of One of the key highlights of total credit) and facilitate technical assistance to eligible BOFIA 2020 is the introduction of a CBN-led regulatory participating financial institutions (PFIs) throughout regime for mergers,

restructurings and other business combinations involving banks in Nigeria, which were hitherto subject to the principal regulatory supervision of the Federal Competition and Consumer Protection Commission (FCCPC).

On a general note, the Nigerian economy slid into a recession in the third quarter of 2020.

This was mainly attributed to the lull in economic activities associated with the low prices in the oil market, as well as the effects of the coronavirus pandemic.

rate from 13.5 per cent to its present rate of 11.5 per cent.

As an additional measure to stimulate the economy, the CBN retained its cash reserve requirements at 27.5 per cent, specifically to stimulate lending activities.

The Central Bank of Nigeria in 2017 was conferred with the Forbes Best of Africa Innovative Banking Award by the Forbes Magazine.

As part of its efforts to reduce the negative impact of the pandemic, the CBN reduced the monetary policy interest

FINANCIAL REGULATOR OF THE YEAR NIGERIAN DEPOSIT INSURANCE CORPORATION The NDIC is a parastatal under the Nigerian Ministry of Finance. The corporation is charged with protecting the banking system from instability occasioned by runs and loss of depositors' confidence.

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he NDIC complements the regulatory and supervisory role of the Central Bank of Nigeria (CBN), although it reports to the Federal Ministry of Finance.

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There is a coordinated formulation of supervisory strategies and surveillance on the activities of the insured banks, elimination of supervisory overlap, establishment of a credible data management and information sharing system.

The NDIC advises the CBN in the liquidation of distressed banks and manages distressed banks' assets until they are fully liquidated. NDIC had paid a cumulative sum of N8.268 billion to 443,946 insured depositors and 100.08 billion to uninsured depositors of deposit money banks

(DMBs) in-liquidation as of September 30, 2021, while N3.413 billion was paid to 90,945 insured depositors of microfinance banks and 1.218 million to uninsured depositors.

The payment of N1.274 billion www.esq-law.com

to 991 creditors and 4.886 billion to 965 shareholders of banks in-liquidation as of September 30, 2021, underscored the Corporation's success story in bank liquidation.

Currently, 19 out of the 49 DMBs in-liquidation fall into this category. The objective of the deposit insurance system is to protect depositors and guarantee payment of insured funds in the event of failure of insured institutions.

What this implies is that the Corporation had realised enough assets to pay all the insured and uninsured depositors of the banks that present themselves for payment.

The Corporation supervises banks so as to protect depositors; foster monetary stability; promote an effective and efficient payment system; and promote competition and

innovation in the banking system.

conferred with the 'Special Recognition and Commendation Award for Excellence in The Nigeria Deposit Insurance Banking (Public Service)' at the Business Day Banking Awards Corporation (NDIC) has 2017. recorded commendable achievement with the conferment of an award as “The Best Performing Ministerial SERVICOM Unit (MSU) 2017” by the SERVICOM Office of the Presidency. The Nigeria Deposit Insurance Corporation (NDIC) said it was recently

REGULATORY BODY OF THE YEAR NIGERIAN COMMUNICATIONS COMMISSION The Nigerian Communications Commission is the independent National Regulatory Authority for the telecommunications industry in Nigeria.

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he Commission is responsible for creating an enabling environment for competition among operators in the industry as well as ensuring the provision of qualitative and efficient telecommunications services throughout the country. Over the years NCC has earned a reputation as a foremost telecom regulatory agency in Africa.

Importantly, NCC hopes to catalyze the use of ICTs for different aspect of national development. The Commission has initiated several programs such as State Accelerated Broadband Initiative (SABI); Wire Nigeria Project (WIN); the University Inter-Campus Connectivity programme (UNiCC) and numerous intervention programmes and projects to help stimulate demand and accelerate the In June 2016 NCC received the uptake of ICT tools and services necessary for the EUROPEAN AWARD FOR enthronement of a knowledge BEST PRACTICES IN THE society in Nigeria; and it is the GOLD CATEGORY from the European Society for Quality key driver of the National Research (ESQR). Its receptacle Broadband Plan designed to cascade availability of of trove of awards has broadband services across continued to swell all year Nigeria. round.

The Commission has been visited by many international institutions and its counterparts from different countries across the world for commendation and for benchmarking.

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the provisions of the Nigerian Communications Act, 2003 and any other relevant Legislation.

LRS Department is also responsible for the provision of legal support and advisory services to the Commission.

The Department also serves as the Commission's Desk Office in addressing Freedom of Information (FoI) Requests made pursuant to the Freedom of Information Act, 2011.

This Service Charter is a demonstration of the LRS Department's commitment to the attainment of the Commission's Strategic Objectives. The Charter identifies our customers, what they can expect when dealing with us and our commitment to deliver excellent legal services at all times. They are in line with the Commission's vision and mission.

The Legal and Regulatory Services (LRS) Department is charged with the responsibility of ensuring that the activities The commission is further and operations of the Commis- liberalizing the telecommunision are carried out in line with cations industry by finalizing

the framework for Mobile Virtual Network Operators (MVNOs) and currently reviewing existing regulations.

The commission is also finalizing the Information Memorandum (IM) for 5G deployment, emerging trends like the Internet of Things (IoT), Artificial Intelligence (AI), Over The Top (OTT) services and Big Data Analytics, all these are aimed at initiating strategies to improve service delivery that is accessible and affordable.

The commission is currently leading the industry to facilitate the rollout of broadband infrastructure so that Nigeria can achieve the target of 70 per cent broadband penetration to at least 90 percent of the population by 2025 as articulated in the Nigerian National Broadband Plan (NNBP 2020 to 2025).

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CSR LAWFIRM OF THE YEAR SIMMONSCOOPER PARTNER SimmonsCooper Partners ‘SCP’ is a leading full-service law firm in Nigeria. SCP captures this in its client service mantra: “Total Clients’ Solutions”.

The firm is a product of a cross-border fusion of three diverse law practices (the trio of His Excellency, Prof. Yemi Osinbajo, SAN, Mr. Babatunde Irukera (the Executive Vice Chairman of the Federal Competition and Consumer Protection Commission) and Mr. Oladapo Akinosun, SAN) with a common vision to provide comprehensive and multi-jurisdictional legal services, of the highest possible legal standards.

SCP’s clients can draw from a strong and vibrant team in resolving various issues of law in different jurisdictions and practice areas such as Mergers & Acquisitions, Competition and Antitrust, Energy: Oil and Gas, Capital Markets, Intellectual Property, Tax, Litigation and Alternative Dispute Resolution, Private Equity, Project Finance, and Financial Markets, Public Policy and Regulation among several others.

This has particularly been an asset to clients who have questions in several areas of law. The services rendered at SCP are compatible and uniquely suited to serve our clients’ local and international needs.

Commitment to CSR: SimmonsCooper Advocacy

Also speaking at the event, Mr. Babatunde Irukera, the Chief Executive Officer of the FCCPC and a founding partner of the firm advised that legal practitioners take a keen Development (SCAD) is an opportunity to rethink their initiative conceived in 2012 by design from just being lawyers interest in technology knowledge as this is the new His Excellency, the Vice to excellent lawyers who are oil in Nigeria’s economy. He President of the Federal social engineers and instrualso expressed that talent is not Republic of Nigeria, Prof. Yemi ments of social justice. The the problem we have in Osinbajo, SAN, GCON (who selection of the finalists is Nigeria, but the issue is getting was a Senior Partner of SCP at usually from a multi-layer the time). SCAD is a competi- assessment devoid of any iota these talents to do the work and ensuring they do the tion organized bi-annually to of favouritism but strictly work well. In addition, he inspire law undergraduates merit based. emphasized the need to scale and students at the Nigerian events like SCAD to all levels Law School to cultivate an The 2021 SCAD Dispute in society so talents can be interest in public policy Scenario was designed in nurtured naturally thereby development, commercial recognition of the beneficial being beneficial to all facets of growth, public interest matters, impacts of financial technology society. socio-economic rights, and in aiding and accelerating social justice. It engages the economic growth. The dispute realities of today’s world At the 2021 edition, Bada scenario was focused on data especially how those realities privacy, intellectual property, Oladunnni Ikenna emerged as impact the legal, social, the first position going home financial technology, political, and economic with the sum of 1,000,000.00 insurance, regulatory exchanges driving or threatenNaira, an internship opportucompliance and several ing growth within our nity with connected commercial law communities. SCAD is issues and principles. His Simmonscooper Partners as designed to test participants’ Excellency, Prof. Yemi well as an additional grasp of legal analysis, case Osinbajo SAN, GCON, Vice 100,000.00 Naira from Core theory development, and President of Nigeria, has Bank one of the sponsors of written and oral communicaemphasized the importance of the event. Igweono Chidera tion skills. Specifically, the acquiring knowledge in Stephanie emerged 2nd first stage of the competition is relation to technology as well position winning the sum of designed to test the particias the critical nature of dispute 500,000.00 Naira and an pants’ brief writing skills and resolution and advisory internship opportunity with ability to conceptualise services today. The Vice SimmonsCooper Partners complex situations into President, while speaking at while Alao Omeiza Joshua determinable issues for a legal the 2021 Edition of the finished in 3rd place topping discourse.

SimmonsCooper Advocacy the sum of 250,000.00 Naira Development (SCAD) held on and an internship opportunity The second stage is designed to September 25, 2021, expressed with SimmonsCooper Partners. The remaining test the oral advocacy skills of his excitement on redefining participants from 4th to 10th ten (10) successful shortlisted advocacy with the emerging trends and acknowledged the did not go home empty participants from the briefSCAD Finalists as some of the handed as they were also writing stage. In between the brightest young Nigerians rewarded with the sum of first and second stage is a 50,000.00 Naira each.

SCAD Clinic. The SCAD Clinic coming into the legal sector. affords the participants the

LEGAL INNOVATION OF THE YEAR 1 WORQ 94 | Esq Legal Practice

The Nigerian Communications Commission is the independent National Regulatory Authority for the telecommunications industry in Nigeria.

1Worq also provides our to aid their practice as well as professionals access to a virtual opportunities for mentoring lounge for networking and continued development. purposes, resources and tools www.esq-law.com

GENERAL COUNSEL OF THE YEAR IRENE ROBINSON ‒ AYANWALE (NIGERIAN EXCHANGE LIMITED) NOMINEES: ABIODUN PETERS (NIGERIAN BOTTLING COMPANY), LEO OKAFOR (UNITED CAPITAL PLC), IRENE ROBINSON ‒ AYANWALE (NIGERIAN EXCHANGE LIMITED), ementation of AfCFTA and a JENNIFER MARTINS-OKUNDIA (RAND MERCHANT BANK) member of the Financial Services Sector Workstream of the NAC-AfCFTA. She is also a member of the NAC-AfCFTA. In her role in these various Committees, she is part of the team who have, amongst other things, lobbied and got Nigeria Mrs. Robinson-Ayanwale to ratify the AfCFTA on 5 serves as The Exchange's December 2020, created the representative in and Co-Chair AfCFTA Implementation of the Nigerian Coalition of Roadmap for Nigeria for both Services Industries ("NCSI").

Trade in Services and Trade in NCSI is a lobby group Goods, created the Implemenrepresenting stakeholders in tation Plans for the Business the Trade in Services group to Service and Financial Services formulate inputs into domes- Sectors Workstreams. tic, regional, continental and multilateral trade policies on behalf of the services sector in One of the judges remarked “Highly commendable work Nigeria in collaboration with with the demutualization of the Nigerian Office for Trade the Nigerian Stock Exchange, Negotiations ("NOTN").

Further to her role in NCSI, she AfCFTA and human resource was engaged in 2020 in several development. Not much public-private committees and information was given on innovation on pricing but the programs aimed at ensuring work at NSE and with the Nigeria's ratification of the African Exchanges will AfCFTA and the successful implementation of AfCFTA by position Nigeria on the securities map”.

Nigeria. Mrs. RobinsonAyanwale in 2020 was appointed Co-Champion for the Business Services Sector Works tream of Nigeri a's Nation al Action Commit tee for the im pl

Irene is currently the General Counsel and Head Legal Services Department of The Nigerian Stock Exchange. She is a hard working, committed, passionate and dedicated person, known for excellent analytical skills, extreme the attention details, and thoroughness.

Excellence in leadership: She is also very customerSecuritiestoand Exchange centric and strives to keep abreast of technological advancements and developments not only in her profession but also in whichever business she serves.

She has both in her personal capacity and as the Head of the Legal Team won a couple of national and regional legal awards among which are: Nigerian Rising Stars Award for Top 40, Under 40 Lawyers Who Would Shape The Legal Profession at the 2016 Nigerian Legal Awards, Winner InHouse Capital Market Team of the Year – 2016 and 2017 Esq Nigerian Legal Awards, Winner IT and Telecoms Team of the year – 2017 Esq Nigerian Legal Awards, Finalist for the In-House Legal Team of the Year (Large) – 2017 and 2018 African Legal Awards, Finalist for the In-House Legal Team of the Year for the 2017 and 2018 Law Digest African Awards How the candidate has aligned the legal strategy to enhance overall company performance: She effectively allocated the team's human and material resources to ensure The Exchange successfully concluded its demutualization (conversion from a private company limited by guarantee to a public company limited by shares) and restructuring process through the passage of a Demutualisation Act, the approval of a Scheme of Arrangement, the approval of the Demutualisation of The Exchange and the approval by

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Commission of the Demutualisation and Restructuring of The Exchange.

How the candidate has influenced the strategy and direction of the company: The Demutualization and Restructuring of The Exchange entailed several simultaneously moving parts all of which required providing simple legal solutions to complex issues and creating law where none previously existed – the General Counsel, amongst other things, drafted the Demutualisation Bill that was eventually passed into law, recommended the new structure post demutualisation which entailed the conversion of The Exchange into a public non-operating Holding Company and the creation of two new operating privately owned subsidiaries to carry on the previously regulated business of The Exchange, worked on the Scheme of Arrangement approved by the Securities and Exchange Commission and Federal High Court, worked with other teams on the creation and implementation of a change management framework and procedure post demutualisation, recommended and implemented the employee structure to be adopted by the Group company and its subsidiaries, and created the framework for the allocation and provision of shared and regulatory services amongst the Group companies.

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MANAGING PARTNER OF THE YEAR ADELEKE ALEX-ADEDIPE (DUALE, OVIA & ALEX-ADEDIPE) NOMINEES: ADELEKE ALEX-ADEDIPE (DUALE, OVIA & ALEX-ADEDIPE), CHARLES AJIBOYE (THE PENTHOUSE SOLICITORS), ESOSA OMO-USO (SOLOLA & AKPANA), TOSIN AJOSE (DEAL HQ PARTNERS), OLADOTUN ALOKOLARO (ADVOCAAT LAW PRACTICE), OYETOLA MUYIWA ATOYEBI (OMAPLEX LAW FIRM)

Adeleke is the Managing Partner of the Firm. He leads the Banking and Finance and Telecommunications, Media & Technology (TMT), practices at the Firm.

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of the Nigerian Bar He specializes and has depth Nigeria in 2020.

Association- Section on of experience in TelecommuniBusiness Law- Committee cation, Media and Technology on Agriculture.

Banking and Finance, Capital Market, Real Estate, Business Professional Affiliations Ÿ Chairman of the Nigerian Advisory and other corporate Ÿ Chairman, Conference Bar Association - Section commercial practice areas.

Planning Committee of the on Business Law- 2021 15th Annual Business Law Conference Planning Conference of the Nigerian Committee Adeleke has advised on several Bar Association Section on landmark and award-winning Business Law (NBA SBL). transactions both locally and Notable Transactions Ÿ Member, Digital commitinternationally in TMT, tee, Nigerian Bar AssociaBanking and Finance and Ÿ Adeleke Alex-Adedipe is tion (NBA) Capital Market transactions. currently acting as local He is a member of the Nigerian Ÿ Chairman, Tech and Counsel to Arca Payment Bar Association and the Digital Service SubCompany Nigeria Limited International Bar Association. committee, Nigerian Bar (the "Company" or Arca) in In addition, he is an Associate Association (NBA). a $17,350,000.00 (Seventeen member of the African Ÿ Member of the Nigerian Million, Three Hundred Philanthropic Forum. He was Bar Association-Section on and Fifty Thousand appointed a member of Lagos Business Law Council; Dollars) Series A investState Science Research and Ÿ Member of Lagos State ment by a Chinese owned Innovation Council and is a Science Research Innovafintech business (the member of the NBA Section on tion Council by the "Investor"). He is advising Business Law Council.

Governor of Lagos State; on the transaction documents and all local Ÿ Capital Market ConsulAdeleke has been a delegate law related issues. The tant/Solicitor, Securities and guest speaker at various transaction is a significant and Exchange Commisseminars, workshops and step towards the expansion sion; conferences both at the of the Investor's presence Ÿ Member of the Capital national and international in Nigeria and SubMarket Solicitors Associalevels which include the TMT Saharan Africa in general. tion; Finance Africa 2017 held in In 2019, he led the team Ÿ Nigerian Bar Association London where he chaired a that advised Arca (NBA); panel on enterprise cloud Payments Company services and data centre Ÿ International Bar AssociaLimited in its $5,000,000 growth in Africa, a panellist at tion; (Five Million Dollars) TMT Finance Indaba 2018 held equity investment by an in Cape Town, South Africa indigenous and reputable Other Affiliations and a panellist at the 2nd and local Investor. He has African Philanthropy Forum 3rd Annual Africa Tech continued to provide Summit 2019 and 2020 held in specialized legal services Kigali. and advisory to Arca on Awards and Recognition matters relating to negotiation of technology He was recognized with the 40 Ÿ Recommended Attorney contracts, regulatory under 40 award for outstand(TMT) by Global Law advice and compliance ing achievements in the legal Experts, 2020 matters as it relates to the industry at the ESQ Nigerian Ÿ 40 under 40 award for operation of Arca's Legal Awards 2018 and was outstanding achievements Switching License, Nonshortlisted as Partner of the in the legal industry at the Financial Merchant Year by African Legal Awards ESQ Nigerian Legal Acquiring License, in 2020 and was recognized by Awards 2018; Payment Terminal Service Global Law Expert as a Provider License and the recommended TMT attorney in Ÿ Erstwhile Vice Chairman

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Payment Solution Service Provider License.

Currently advising a Ugandan based ride hailing company desirous of commencing its business operations in Nigeria; Currently advising an African Venture Fund in its proposed investment in a Nigerian based online education and tutorial service provider; Currently advising a private equity company in the share acquisition of a group company with operational presence across Nigeria, South Africa, Kenya, United Kingdom and Canada. The investment is valued at $250,000.00; Currently advising a commercial bank in the United Kingdom in an unsecured lending to a Nigerian Commercial Bank guaranteed by its parent company in the United Kingdom; Currently advising West Africa's online vessel chartering platform in its Seed Fund Round; Currently advising an online HMO (first of its kind in Nigeria) on its Series A Financing being led by a French Private Equity Firm.

Acted and represented Terragon Group as Nigerian counsel in connection with a Series A funding of up to $USD 5,000,000.00 in private equity for the purpose of commercial expansion; Advised Arca Payments Company Limited, a financial technology Company in connection with a strategic investment of $USD 5,000,000.00; Currently advising a Nigerian Company that through its online technology platform, users are able to buy, sell, trade

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and invest in stocks of the United States, Chinese Companies and ETFs; Currently advising Nigeria's First Digital Agriculture Platform in its day to day business activities; Advised on a $USD 50,000,000.00 Joint Venture arrangement between itself and a Ghanaian Company engaged in the business of process packaging and transportation of goods across the African continent; Advised TeamApt Limited in a USD$5.5 Million Series A financing led by Quantum Capital Partners, an indigenous private equity firm; Advised the Chinese Development Bank in connection with a facility of $USD 4,500,000.00 advanced to a Nigeria trading and manufacturing Company; Advised a leading alternative power solutions company in connection with the financing, development and provision of solar hybrid based distributed grid system to a major market in Northern Nigeria in a financing valued at $USD 4,600,000.00; Advised in connection with on-going negotiations for the proposed debt equity investment in an indigenous market leader in the food/confectionery industry in Nigeria in the tune of $USD 6,000,000.00 equity investment in line with its growth and expansion drive; Advised an indigenous investment company which is part of a consortium of investors in the multi-million-dollar Equity Financing round of Max.NG, an indigenous transport network company involved in ride hailing service; Advised a local investor in the $195,000.00 asset financing of an indigenous transport network company involved in ride hailing service; Advised Piggy Tech Global Limited during its

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capital raise drive of $USD1,100,000.00; Advised Clane Company Nigeria Limited in its Seed Funding investment round with local and international investors which rounded up at a sum of $USD 1,500,000.00; Advised various investee companies (comprising a mortgage bank, an insurance company and a Money Transfer Operator) forming a part of a financial services platform in the acquisition of majority stake in all investee companies by a private equity investor.

The deal was valued in excess of $USD 15,000,000.00; Advised an equity investor in the acquisition and recapitalization of a mining Company with total value in excess of $USD 6,700,000.00.

Key cases Adeleke Alex-Adedipe acted as lead counsel, advising Lagos State Government (the "Client") on the N100,000,000,000.00 (One Hundred Billion Naira) syndicated debt financing in connection with the Phase 1 of the Lagos State Redline Rail Project.

The Lagos State Redline Rail Project is centered on the construction of a 25km rail line and associated infrastructure from Agbado, Lagos to Marina Lagos.

The transaction involved 3 (three) lenders providing a Differentiated Cash Reserve Requirement Facility to the Lagos State Government

for the financing of the Redline Rail Project The transaction team was led

by Mr. Adeleke Alex-Adedipe, the Managing Partner at the Firm, and Mr. Seye Ayinla (Partner) supported Sodeek Oluwatobi Oyedeji (Associate) and Omobolanle Dabiri (Associate).

Initiatives Undertaken Outside of the Law Adeleke Alex-Adedipe is currently a member of the African Philanthropy Forum where he collaborates with philanthropists from across Africa to improve diversity, equity and inclusion across Africa. This has exposed him to a broader understanding of the challenges facing specific African societies and ingenious ways of solving them. It has also given him the opportunity to engage with, learn from, and impact a wider spectrum of people than he would ordinarily have. Networking has in turn helped to build his personal and professional

capacity and getting diverse orientations on how to solve peculiar challenges.

Supporting Testimony from Private Practice Colleagues Adeleke Alex-Adedipe has strong knowledge of local commercial law, expertise within venture capital space in Nigeria and a good team of junior lawyers He is a leader and whenever we walk into a negotiation with him, I know we are in good hands because he always delivered Fantastic Lawyer. He is our go-to and always able to proffer legal solutions when we call on him Professional, sincere, open to different ways of thinking and objective

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PRACTICE ADMINISTRATOR OF THE YEAR ODUNOLA ONADIPE (DETAIL COMMERCIAL SOLICITORS) NOMINEES: EBELE IYAYI (ALLIANCE LAW FIRM), ODUNOLA ONADIPE (DETAIL COMMERCIAL SOLICITORS), ONYINYE CHIKWENDU-IKECHEBELU (OMAPLEX LAW FIRM)

Odunola Onadipe is the Lead Operations Officer for DETAIL Commercial Solicitors. In this role, she oversees the day-to-day administrative and operational functions of the firm, managing business development, creating operations strategies and policies, communicating operational strategies to employees, and building employee alignment with the firm's goals.

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remote working. The firm has incorporated tools as Zoom and Teams Platforms to facilitate virtual meetings especially following the impact of the COVID-19 pandemic; Active Campaign to store Odunola is a Human Resource Associations client information and professional with many years automate some client manageof experience working in a Society for Human Resource ment processes; SharePoint to wide range of sectors, Management (SHRM), USA create and share client project including legal, banking, Association of Legal Adminis- folders where documents can consulting, and the public trators (ALA) USA Chartered be accessed by both lawyers sector. Her areas of specialty Institute of Personnel Manage- and clients and clients can be are General HR practice, HR ment, Nigeria (CIPMN) invited to collaborate on strategy, Organizational Association of Law firm documents shared; and Development, Compensation Administrators, Nigeria Basecamp which is used to & Benefits, Employee (ALAN) monitor project status.

Resourcing, Performance Management, Talent ManageHOW SHE HAS ALIGNED THE Innovations in Human Resources ment, Training & DevelopLEGAL STRATEGY TO ENHANCE Management: ment, Client Services and OVERALL COMPANY PERFORGeneral Administration.

MANCE: In terms of enhancing lawyers' performance, from January Odunola is an effective Client Service: 2020. Odunola implemented communicator with an In terms of client service, Friday flexi-working policy impressive eye for detail and Odunola ensures that all enabling lawyers to work from has a demonstrated track lawyers imbibe the culture of home on Fridays to improve record of building and responding to clients queries work-life balance. Also, the implementing structures in promptly. Responsiveness, dress down policy was also organizations. She is an effective client communication implemented, enabling excellent training facilitator and innovation are core values lawyers to dress casually every and a life coach who is also at DETAIL. Under Odunola's highly skilled in the formula- leadership, DETAIL created a day except when meeting with clients, thereby improving tion and implementation of Client Interface Department concentration on work and best practice policies and responsible for managing optimizing productivity. procedures. client relationships by keeping in constant communication In the past, Odunola worked as with clients, sharing legal and Apart from flexi-working, regulatory updates as well as Odunola also ensures Head, Group Human exchange of knowledge within business opportunities to Resources for BGL Plc (A the firm called the “Knowledge clients, having annual leading investment banking Sharing Sessions”. Through anniversary touchdown firm) where she was instruthis platform lawyers with mental to the establishment of meetings with clients, and specialization in legal areas HR structures and policies. She celebrating client's birthdays train other lawyers within the and milestones. has also held various roles firm. The knowledge session within Guaranty Trust Bank also goes beyond legal topics, Plc, First Bank Plc, and MBC Additionally, Odunola has to cover technology, selfInternational Bank. seen the implementation of improvement, timemany technological improve- management etc. ments to the firm's use of Qualifications collaborative tools to improve client work, productivity, and Business Development and MBA: University of Liverpool, Marketing efore becoming the LOO in 2019, she was the firm's Lead Administrator from 2012.

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UK, 2011 Advanced Diploma Certificate (HR): University of Lagos, 2005 BA (Lit-inEnglish): Obafemi Awolowo University, Ile-Ife, 1998

Odunola may also be seen networking at events and overseeing DETAIL's events as part of her business development strategies. The firm has also organized training for all lawyers on marketing to empower lawyers to network properly.

Odunola's policies and strategies have seen the firm excel in client service, lawyer's productivity, and satisfaction and in the firm's financial performance. 3 HOW SHE HAS INFLUENCED THE STRATEGY AND DIRECTION OF THE COMPANY As Lead Operations Officer, Odunola oversees or drives most innovation that happens within the firm operationally.

Odunola has influenced the firm's adoption of a lot of technology to facilitate lawyers working seamlessly out of the office without a decline in productivity or performance.

Also, Odunola has been at the helm of the firm's increased visibility and social media presence. Through engagement of experts, creation of structures and processes, the firm has a social media team that handles the firm's online visibility and accessibility.

INNOVATION AND BEST PRACTICE IN AREAS SUCH AS PRICING Innovation in Technology: DETAIL also embraces technology and innovation in all its processes. Some examples of this include: Ÿ For efficiency and quick turnaround of work, DETAIL has set up a knowledge bank on Microsoft SharePoint where all lawyers can access legal opinions, guidance notes, laws and regulation, and memos and opinions previously prepared and adapt them for similar transactions. www.esq-law.com

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DETAIL also makes use of online resources for research purposes.

For Collaboration, DETAIL uses SharePointto create and share client project folders where documents can be accessed by both lawyers and clients and clients can be invited to collaborate on documents shared.

For Case Management, DETAIL utilizes Basecamp which serves as a repository for all data shared on all active and passive projects. It is also used to monitor project status.

For Client management, DETAIL uses Active Campaign to store client information and automate some client management processes.

For Client Meetings, Presentations, and Internal Meetings, DETAIL uses Zoom and Teams Platforms to facilitate virtual meetings especially following the impact of the COVID-19 pandemic.

For Hourly Billing, DETAIL utilizes Clockify, an application used to track and collate billable time spent by lawyers and the accounting department utilizes sage for e-billing.

This has been useful in billing for Publishable Matters 2,7,8 and 9.

Innovation in Human Resource Management: Flexi-Working: Odunola implemented Friday flexiworking policy enabling lawyers to work from home on Fridays to improve work-life balance. From the start of the COVID-19 pandemic, the firm worked fully from home and is currently still working from home seamlessly.

Training: Lawyers are encouraged to attend training in areas that interest them.

Odunola also ensures exchange of knowledge within the firm called the “Knowledge Sharing Sessions”. Through this platform lawyers with specialization in legal areas train other lawyers within the firm. The knowledge session also goes beyond legal topics, to cover technology, selfimprovement, timemanagement etc.

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Publicity & Event Committee of the Association of Law firm Ÿ Administrators, Nigeria (ALAN) and has been responsible for leading her committee to plan the Associations past events and has been involved actively in the Associations collaborations with the NBASBL and the Law Management Practice Committee.Training FacilitaSTRONG MANAGEMENT SKILLS Ÿ tor: Odunola facilitates events BOTH INTERNALLY (WHERE and career-related programs APPROPRIATE) AND EXTERNALLY and constantly seeks opportunities to share her wealth of Communication and Planning experience in legal administraskills: tion, human resources, Odunola oversees the planning business management etc with of DETAIL's annual Business others.

Series which was organized on the Finance Act this year.

INSTANCES IN SHE HAS DETAIL also organizes SUCCESSFULLY IMPLEMENTED sessions on burning issues.

OR CHAMPIONED INTERNAL This year DETAIL held a INITIATIVES SUCH AS MENTORING webinar on the effect of SCHEMES / CSR POLICY / PANEL COVID on businesses and the REVIEWS way forward. These events serve as a way of reaching and Ÿ Mentorship enlightening members of the Programme: public on legal and trending Odunola oversees topics. Additionally, these the mentorship events are also publicized on program within our social pages and YouTube the firm. The for viewing. program pairs junior lawyers Interpersonal skills: with senior Odunola is beloved by staff lawyers to members as she relates easily understudy with all members of staff and the senior clients. She regularly checks-in lawyers. on the welfare of all staffers.

The senior She maintains cordial lawyers relationships with clients' in turn through calls, anniversary have the meetings, and birthday duty of celebrations etc. groomi ng and “hand Decision making; -holdi Odunola makes strategic ng” decisions and encourages all Employee Performance Management: Odunola designed a new fit-for-purpose performance management system that ensures objectivity in measuring staff performance on every assigned task. This has been implemented in the firm and continues to achieve its objective till date.

the junior lawyers.

As part of her personal CSR activities, she convened God's Girls Club, a not-for-profit social club for teenage girls in Lagos where she is involved in mentoring teenage girls and grooming them in preparation for virtuous leadership.

Ebola Containment Trust Fund (ECFT): Odunola is a member of the Board of the ECTF set up in 2014 in the fight against the spread of Ebola Virus in Lagos State and environs. During the COVID-19 pandemic, this Fund was revived for the purpose of raising and deploying funds for the purchase of protective equipment donated to Nigerian Centre for Disease Control for its contact tracing scheme.

DETAIL staff members to be solution providers by considering the best solutions to challenges being faced on a day-to-day operations basis.

Delegation and Leadership Building: As part of team building, Odunola actively delegates work to members of the legal and administrative team. She ensures that everyone builds the capacity to become a team leader.

DEMONSTRATION OF EXCELLENCE IN LEADERSHIP Odunola is the Vice President and the Chairperson for the

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Legalreport TEMPLARS ADVISES ON THE FIRST ADDITIONAL TIER 1 EUROBOND OUT OF NIGERIA TEMPLARS advised the joint bookrunners on two back-to-back regulatory capital regulations, Joint Bookrunners.

Eurobond issuances by Africa's largest retail bank, Access Bank plc, paving the way for Nigerian banks to raise capital." with a combined value of US$1 billion.

Chike Obianwu led the The two-track deal comprised the first-ever additional Tier 1 Eurobond issue by a Nigerian bank, as well as the second outside of Africa. The bank's US$1.5 billion Global Medium Term Note Programme was used to issue the perpetual fixed-rate resettable noncumulative non-call 5.25 additional Tier 1 (AT1) subordinated notes.

The bank had also issued another US$500 million of 6.125 percent senior unsecured Eurobonds due 2026

two weeks prior, which counted as part of its regulatory capital.

“This was a tremendously challenging and fascinating transaction,” says Chike Obianwu, Partner and Finance Practice Group Head. Because of the AT1's novelty, the deal's lawyers and other consultants had to create a new framework for this one-of-a-kind type of bank capital in Nigeria. TEMPLARS is proud to have played a key role in developing the market and

Aluko & Oyebode advises the Edo State Government on the Enactment of the College of Nursing Sciences Bill 2021 by the State House of Assembly. www.esq-law.com

Citi, J.P. Morgan, Renaissance Capital, and Mashreqbank served as Joint Bookrunners on the AT1 issuance, with Chapel Hill Denham and Coronation Merchant Bank serving as Financial Advisers and Joint Bookrunners, and Absa, Barclays Bank, JP Morgan, and Standard Chartered serving as Financial Advisers and Joint Bookrunners on the senior Eurobond issuance, with Chapel Hill Denham and Rand Merchant Bank serving as Financial Advisers and

A

luko & Oyebode is glad to have advised the Edo State Government on the repeal and enactment of the Edo State College of Nursing and Midwifery Law 2015 and the Edo State College of Nursing Sciences Law. The Firm evaluated and drafted the Edo State College of Nursing Sciences Law 2021 in consultation with relevant policymakers in the health

Templars team that advised on both issuances, with assistance from Zelda Akindele, Partner, and Associates Okabonye Chukwuani, Anwuri Akolokwu, and Victor Olusegun. Banwo & Ighodalo acted as joint Nigerian counsel for the Joint Bookrunners, while White & Case, a London-based international legal practice, acted as English and U.S. counsel.

sector in Edo State, which has now been enacted by the Edo State House of Assembly and awaits the Governor's signature. This law was passed as part of the state's effort to renovate and reopen nursing and midwifery schools in Edo State.

Aluko & Oyebode Partner, Oghogho Makinde, led the transaction team, which was assisted by Associate, Orevaoghene Ojuh.

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Deals UUBO TEAM ADVISES ON PROPOSED BAXI/ CAPRICORN DIGITAL LIMITED BUYOUT BY MFS AFRICA In one of Nigeria's largest FinTech acquisition agreements, was happy to advise Capricorn Digital Limited, one of the country's top digital solution providers, on its proposed purchase by MFS Africa Nigeria Holdings Limited.

Aluko & Oyebode advises on the Listing of NGX Group on the Main Board of Nigerian Exchange Limited (“NGX”) Aluko & Oyebode is delighted to have acted as sole legal adviser to Nigerian Exchange Group Plc (“NGX Group”) in connection with the landmark listing by introduction of its 1,964,115,918 ordinary shares on the Main Board of Nigerian Exchange Limited (the “Listing”).

The Listing was effected after due compliance with the listing requirements of NGX and the receipt of relevant approvals from the Securities and Exchange Commission and NGX Regulation, in accordance with extant securities laws and regulations.

Plc as a non-operating holding company with three wholly-owned subsidiaries, Nigerian Exchange Limited, NGX Regulation Limited and NGX Real Estate Limited.

The Listing will enhance liquidity for the shareholders of NGX Group and expediate the The Listing follows the diversification of NGX demutualisation and Group's investor base, as it restructuring of The is expected to attract a Nigerian Stock Exchange myriad of domestic and Ltd/Gte, which culminated global institutional in the emergence of investors.

Nigerian Exchange Group

The Firm's transaction team, which was led by Senior Partner, Olubunmi Fayokun, included Capital Market Partner, Ayodeji Oyetunde and Associate, Abisola Akinyemi.

It's another watershed moment for TNP. TNP is glad to have advised MFS Africa, Africa's largest fintech interoperability hub, on its proposed purchase of Capricorn Digital Limited, a technology-focused digital distribution and payments company, on its proposed acquisition of Capricorn Digital Limited for an undisclosed sum.

Under the Baxi brand, Capricorn manages a digital payment network for small and medium-sized businesses.

Degbola Abudu launched the company in 2014. Its service aims to help Nigerians with everyday financial needs such as utility bill payments, airtime purchases, TV bills, data subscriptions,

UUBO's ProBono supports the fight to eradicate female genital mutilation (FGM) in Nigeria 102 | Esq Legal Practice

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withdrawals, and money transfers.

Through its BaxiBox POS, BaxiPay, Baxi MPoS Device, and BaxiRIMS products, the company's retail network of agents and merchants in some of Nigeria's most remote locations deliver these services.

This is the second largest fintech acquisition deal in Nigeria, and it will see MFS Africa expand its footprints into the Nigerian Fintech industry, pending permission from the Central Bank of Nigeria.

G. Elias & Co. Announces New Partners & Senior Associates The Partners of G. Elias & Co. are pleased to confirm that, Japhet Eneh (Projects), Ayodele Ashiata Kadiri (Capital Markets), Chimezie Onuzulike (Dispute Resolution), Christabel Andino (Banking & Finance) and Lawal Ijaodola (Arbitration) have

become Senior Associates in the firm.

Their elevation is a testament to their commitment and dedication to the firm and its clients. We wish them the very best as they progress in their new roles.

G. Elias & Co. is pleased to welcome and introduce our new Associates - Ibrahim Haroon, Faith Emmanuel, Favour Ogini, Victor AyoOdewale, Ekeleme Chidinma and Utonwa Onwumelu to the firm.

Bukola Bankole led the TNP team, which included Samuel Esuga ACTI, BL, LLB, and Ayokunle Olowogboyega.

UUBO's ProBono supports the fight to eradicate female genital mutilation (FGM) in Nigeria

T

he Pro bono team co-head, Ozofu 'Latunde Ogiemudia (partner) was a guest on TVC Breakfast today, 25th October 2021, and spoke on the issue of FGM and what can be done to eradicate it.

UUBO currently supports the

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#StopCut Project of HACEY Health Initiative which is focused on eradicating FGM in Oyo, Osun and Ekiti States of Nigeria, through better enforcement of existing laws.

firms from other jurisdictions that worked on that project, won the 2018 Trustlaw Collaboration Award by the Thomson Reuters Foundation.

Many, which conducts research and provides knowledge and tools to those working to end FGM worldwide

In 2018, UUBO contributed to the 28 Too Many | leading anti-FGM charity Report on FGM and, together with law

UUBO also won the Lex The award was in recognition Mundi Pro Bono Foundation of the firms' Pro Bono team Award for Africa in 2020. contributions to the winning project on behalf of 28 Too

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Legalreport

THE FEDERAL COMPETITION AND CONSUMER PROTECTION COMMISSION LAUNCHES ITS MERGER NOTIFICATION PORTAL The Federal Competition and Consumer Protection launch of the Portal was Commission (the “FCCPC”) has today, 14th October The part of the activities during a 2021, launched its new merger notification portal stakeholders’ engagement (the “Portal”). session organised by the FCCPC. During the event, the FCCPC gave insight into to the FCCPC, merger he Federal its regulatory approach to Competition and notifications can be made on competition in Nigeria and the Portal from today.

Consumer mentioned that it expects full Protection compliance with the FCCPA Commission (the Other key features of the and its subsidiary Portal include: a filing fee “FCCPC”) has today, 14th regulations, as it will no calculator which is to assist longer hesitate to enforce the October 2021, launched its applicants accurately new merger notification law to the fullest extent calculate the fees payable for possible where necessary. portal (the “Portal”). merger notifications, a The Portal which is a positive publication feature for the The Executive Vicepublishing of merger step towards the Chairman/Chief Executive notifications in line with the Officer of the FCCPC, Mr. improvement of the ease of doing business in Nigeria, requirements of the Federal Babatunde Irukera has now fully digitised the Competition and Consumer mentioned that the FCCPC merger filing process, Protection Act 2018 will prioritise clear through the provision of (“FCCPA”) and a scheduling communication with the online facilities for the assistant for the scheduling public and that the industry submission and processing of of pre-merger notification should expect the FCCPC to merger notifications consultation appointments be accessible. Mr. Irukera, with the FCCPC. According with the FCCPC.

T

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however, warned that from 2022, failure to comply with the standstill obligations under the FCCPA will be met with the full letter of the law.

In addition, the FCCPC may also reopen already approved mergers if the parties’ conduct warrants it.

The FCCPC also announced that it will in the coming weeks release more regulations to the public, especially with respect to restrictive agreements.

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Legalreport

Pavestones advises Agricorp International Development Limited in its Series A funding led by Vami Farms Nigeria.

P

avestones is pleased to have advised Agricorp International Development Limited, a Nigerian based spices producing, processing and exporting company, on its recently concluded Series A funding led by Vami Farms Nigeria.

Agricorp International, a Nigerian spice company that produces, processes, and exports, has raised $17.5 million in pre-series A fundraising. With this new funding, Agricorp will be able to grow its spice processing capacity to 7000 metric tonnes (MT), enter new markets, recruit more people, and develop more

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processes that will benefit global food systems.

Agricorp, founded in 2018

by Kenneth Obiajulu and Wale Omotimirin, provides inputs and training on excellent agronomic practices to smallholder farmers, and its 0.5MT/hour processing plant in Kaduna, Nigeria, processes and packages farm goods for export.

The transaction was led by the firm's founding partner, ADERONKE Alex-Adedipe with support from Feyijuwa Akinyanmi.

TNP ADVISES MFS AFRICA, ON ITS PROPOSED ACQUISITION OF CAPRICORN DIGITAL LIMITED, A TECHNOLOGYFOCUSED DIGITAL DISTRIBUTION, AND PAYMENTS COMPANY. It's another watershed moment for TNP. TNP is glad to have advised MFS Africa, Africa's largest fintech interoperability hub, on its proposed purchase of Capricorn Digital Limited, a technology-focused digital distribution and payments company, on its proposed acquisition of Capricorn Digital Limited for an undisclosed sum.

Under the Baxi brand, Capricorn manages a digital payment network for small and mediumsized businesses. Degbola Abudu launched the company in 2014. Its service aims to help Nigerians with everyday financial needs such as utility bill payments, airtime purchases, TV bills, data subscriptions, withdrawals, and money transfers.

Through its BaxiBox POS, BaxiPay, Baxi MPoS Device, and BaxiRIMS products, the company's retail network of agents and merchants in some of Nigeria's most remote locations deliver these services.

This is the second largest fintech acquisition deal in Nigeria, and it will see MFS Africa expand its footprints into the Nigerian Fintech industry, pending permission from the Central Bank of Nigeria.

Bukola Bankole led the TNP team, which included Samuel Esuga ACTI, BL, LLB, and Ayokunle Olowogboyega.

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Legalreport

PANDEMIC HITS AFRICAN MARKETS BUT LEAVES ROOM FOR OPTIMISM This year's annual rating of Africa's major financial markets illustrates the impact of the Covid-19 pandemic, but also indicates that proactive governance may provide economic resilience and that there is a growing interest in green financing.

The pandemic is having an effect on African financial markets, but there are reasons for hope, especially with a growing focus on greener financial products.

The fifth annual African Financial Markets Index, released on October 13th, 2021, by Johannesburgbased bank Absa with data from economic consultant OMFIF, concluded that the average performance of the continent's markets had decreased over the last year because to insufficient liquidity.

Although the pandemic had a significant negative impact, the continent's finest markets were resilient and continued to make progress, and interest in green investments was on the rise. Although the coronavirus has now complicated that aim, the 2019 report had laid out the scale of improvements required to make progress.

According to data and opinions from policymakers, regulators, and professionals operating in the markets, even the best-ranked countries have lower overall rankings than 2020, based on market depth, access to foreign exchange, market transparency, capacity of local investors, macroeconomic opportunity and enforceability of standard master agreements.

The index evaluated 23 African financial markets based on six main criteria in an attempt to provide a picture of economic potential and macroeconomic opportunities, and the authors hope that it will inspire governments across the continent to take a more proactive role in improving Even if this year's results are their economies. mostly influenced by

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historical variables and the country's well-established financial infrastructure, South Africa remains the index's leader. Market depth and foreign exchange are the country's two most important indicators of success despite years of economic difficulties.

Coronavirus-accelerated reduction in macroeconomic opportunity reflects the country's economic woes in the index.

In second and third place respectively, Mauritius and Nigeria were ranked as two of the best performers in the world. When it comes to investment capacity, macroeconomic opportunity, and the enforceability of industry standard master agreements, Nigeria tops the pack, followed closely by Namibia, Egypt, and Ghana.

Even the 23rd-ranked

Cameroon and 23rd-ranked Ethiopia were lauded for launching regional stock markets and taking measures to create securities exchanges, respectively, in this selfselecting group of economic powerhouses.

"Covid-19 has had a greater negative impact in Africa than elsewhere," OMFIF chairman David Marsh stated in the report. A fullscale financial crisis has not yet occurred, but societal pressures have risen, commodity prices have fluctuated, and interest rates in the United States are on the rise, making the situation even more difficult.

For example, Marsh observed a growing understanding in Africa of international norms, the usefulness of wider financial markets as a buffer against economic swings, and sustainable finance.

This greater financial market resilience, Marsh wrote, "makes Africa better prepared to construct a brighter future.

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Legalreport EGYPT JOINS THE AFRICAN FINANCE CORPORATION (AFC) African Finance Corporation, a development finance institution, has welcomed Egypt as its 32nd member state.

E

gypt's Prime Minister, HE Dr Mostafa Madbouly, has been a driving force behind Egypt's commitment to join the Africa Finance Corporation (AFC) as a member state, thereby enabling the prospect of obtaining USD 1 billion in investments.

AFC has already committed USD 100 million to infrastructure projects around Egypt, including the Egyptian General Petroleum Corporation and Carbon Holdings, a petrochemicals giant.

explained in a statement.

"We are already in discussions with AFC regarding pipeline projects, which include supporting the manufacture of Covid19 vaccine, collaborating closely with the Ministry of Transportation to fund the high-speed train and Cairo Monorail projects, as well as collaborating with The Sovereign Fund of Egypt to fund renewable energy projects, and we look forward to executing these projects in accordance with the country's Vision 2030."

AFC has also identified USD 600 million in future "With the growing investments for projects in importance of public-private the renewable energy, partnerships in progressing natural gas, transportation, the African continent and and logistics sectors. It Egypt in particular, we are estimates spending USD 1 glad to join a recognized billion in total. and trustworthy pan-African institution such as the Africa Egypt's entrance to the AFC Finance Corporation," HE Dr as a member state expands Mostafa Madbouly the AFC's North African www.esq-law.com

footprint, following Morocco's accession in June.

Egypt will benefit from increased investment allocation, as well as preferential access to AFC's finance and structuring services, as well as lower project debt costs.

Additionally, Egypt will benefit from project development and consultancy services.

Samaila Zubairu, CEO and president of AFC, led a delegation of senior company executives to Cairo in July for several talks with key government officials. Prime Minister Madbouly and Finance Minister Dr Mohamed Maait were among those who signed Egypt's AFC membership document.

development is consistent with AFC's support for resilient and sustainable infrastructure that benefits not only Egypt, but the entire continent," adding, "I look forward to working with our partners to strengthen manufacturing on the continent, particularly the production of Covid-19 vaccines."

Egypt received a USD 1.1 billion investment in January as part of a new initiative launched by the International Islamic Trade Finance Corporation.

Zubairu stated in a statement, "We met with several key government stakeholders in Cairo, and their urgency in advancing Esq Legal Practice | 107

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African fintech raises USD 20 million White & Case has continued the growth of its South African finance practice with another partner hire, as it eyes disruption in the mining and aviation sectors.

Johannesburg debt finance partner Lindani Mthembu has moved from Allen & Overy (A&O) to White & Case.

clients to support investment opportunities in important industry sectors, including banking, infrastructure, power, telecoms and transport.”

The move reunites Mthembu with Lionel Shawe, whom he followed from Bowman Gilfillan (now Bowmans) to A&O in 2014, after Shawe jumped to White & Case in April this year. He joins another former colleague, Sibusiso Zungu, who followed Shawe in May, at which time regional head of banking Colin Harley told ALB that the United States firm was “bulking out” its Johannesburg finance practice.

Mthembu began his career with Deneys Reitz (now part of Norton Rose Fulbright) before a short stint with Paul, Weiss, Rifkind, Wharton Bowmans last week & Garrison, joining Bowmans appointed a corporate partner as its new chairman, in 2010. while the firm lost four London-based Harley added banking lawyers to Cliffe that Mthembu “has Dekker Hofmeyr. extensive experience in the South African market advising on high end international and domestic finance transactions”.

Mthembu advises on structured, project, acquisition and asset finance, as well as debt restructuring

. US firm hires Johannesburg debt finance partner

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and sovereign debt, on behalf of local and international businesses, particularly in the mining and aircraft industries. The latter will be particularly valuable expertise as Africa's already beleaguered aviation sector has been plunged deeper into crisis by the Covid-19 pandemic. Earlier this year the government sold South African Airways to a consortium.

In a statement, global head of debt finance at White & Case Eric Leicht explained the hire: “As Africa continues on its growth trajectory, we see strong demand from

Johannesburg office is continuing to grow.

A&O has not been standing still however, having just last month recruited six South African lawyers, including a new head of the local banking practice, from Webber Wentzel.

Global executive committee member Oliver Brettle noted that “Africa is a strategically important market for White & Case”, adding that the

US firm hires Johannesburg debt finance partner www.esq-law.com

Legalreport The United States has relaunched its Prosper Africa trade project.

In July 2021, the Trump administration announced that the Prosper Africa project, which was established in 2019 under Trump, will be resurrected and relaunched to enhance reciprocal trade.

I

nfrastructure, energy and climate solutions, healthcare, and technology will be among the sectors where the effort will focus on boosting trade and investment. It is expected that an additional USD 80 million would be needed to help fund its projects. The 17 US government departments involved in this project have a mandate to develop African firms, provide deal support, and connect US investors with those in Africa, among other things. The desire to focus on trade projects that benefit women and small and medium firms in Africa was also mentioned during the revamped Prosper Africa launch.

strategy at the end of 2018, he stated that the US would promote intraregional trade and commercial ties with its African allies, shifting the focus away from "indiscriminate aid" and toward trade and investment, positioning the US as a more sustainable alternative to "predatory" Chinese and Russian interests in Africa. Under President Biden's leadership, the US will focus on establishing strategic, cooperative, and reciprocal economic relationships with African countries. The Biden administration has stated that its focus in Africa will be on the goal of 'shared prosperity' between Africa and the United States, rather than on combating Chinese influence.

When President Trump unveiled his US Africa

Between January and July 2021, the value of imports

Lindani Mthembu, a Johannesburg debt finance partner, has gone from Allen & Overy (A&O) to White & Case.

Mthembu will reunite with Lionel Shawe, whom he followed to A&O in 2014 after Shawe left Bowman Gilfillan (now Bowmans) in April of this year. He joins another former colleague, Sibusiso Zungu.

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Mthembu assists local and international enterprises on structured, project, acquisition, and asset finance, as well as debt restructuring and sovereign debt, primarily in the mining and aircraft industries. The latter will be very useful knowledge now that Africa's already troubled aviation sector has been exacerbated by the Covid-19 outbreak.

US firm hires J ohannesburg debt finance partner high end international and domestic finance transactions," according to Harley, who is located in London.

"Africa is a strategically significant market for White & Case," said global executive committee member Oliver Brettle, adding that the Johannes-

burg office is continuing to grow.

A&O hasn't been sitting still, having recently hired six South African lawyers from Webber Wentzel, including a new head of the local banking practice.

and exports between the United States and Africa demonstrates the existing, non-reciprocal nature of commerce between the two regions. According to data, the United States purchased USD 6.3 billion more from Africa than it exported.

According to the US Census Bureau, the US exported commodities worth USD 14.7 billion to Africa during this time period, while importing items worth USD 21 billion from Africa.

According to the bureau's figures, commerce between

the United States and Africa has the potential to grow significantly when compared to other US trading partners. Between January and July 2021, US products exported to the United Kingdom totalled USD 35.3 billion, while goods imported into the US from the United Kingdom totalled USD 32.1 billion.

The government sold South African Airways to a consortium earlier this year.

electricity, telecoms, and transportation," said Eric Leicht.

White & Case's worldwide head of debt financing issued a statement. "As Africa's economic trajectory continues, we see high demand from customers to support investment opportunities in major industrial sectors, including as banking, infrastructure,

Mthembu started his legal career at Deneys Reitz (now part of Norton Rose Fulbright), then moved on to Paul, Weiss, Rifkind, Wharton & Garrison before joining Bowmans in 2010.

The Biden Administration is also said to be in favor of the African Continental Trade Area (AfCFTA), which is set to begin in January 2021.

Mthembu "has substantial experience in the South African market advising on

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Legalreport The United States has relaunched its Prosper Africa trade project.

The African Continental Free Trade Area (AfCFTA) is a historic free trade agreement that intends to bring together 54 African countries with a combined population of more than one billion people and a GDP of more than USD 3 trillion. Now that the AfCFTA is up and running, Biden is likely to explore at new, reciprocal trade arrangements with Africa to supplement the continentwide free trade pact. The non-reciprocal African Growth and Opportunity Act (AGOA), which enables duty- and quota-free exports from qualifying African countries to the US but is set to expire in 2025, is expected to be replaced by new trade deals. Bill Clinton signed AGOA into law, and Presidents Bush and Obama both extended it throughout their terms.

All future trade agreements inked between the US and African countries will have to comply with AfCFTA's trade terms, and such deals will almost certainly contain climate change measures and taxes on high-carbon imports, given Biden's environmental attitude.

Biden will also stress the importance of trade deals that benefit US firms and

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consumers.

However, in order for free trade throughout the continent to succeed, infrastructure to support the free movement of goods and services across Africa's borders is badly needed. As a result, there is a pressing need to solve infrastructure financing gaps in Africa, such as transportation, energy, internet access and data services, education, and healthcare infrastructure projects.

As a result, the United States is already a major funder of African infrastructure initiatives. Between 2008 and 2020, two US development agencies ‒ the ExportImport Bank of the United States and the Overseas Private Investment Corporation ‒ funded infrastructure projects worth USD 4.7 billion and USD 3.6 billion, respectively, according to IJ Global data in Baker McKenzie's report, New Dynamics: Shifting Patterns in Africa's Infrastructure Funding.

The United States has lagged behind China in terms of lending to African infrastructure projects; according to IJ Global data from the same research, the

China Exim Bank alone lent USD 29 billion to African infrastructure projects between 2008 and 2020.

However, Biden's renewed focus on impact-building and financing long-term strategic projects in the area, as well as his administration's willingness to collaborate with regional development finance institutions to close the infrastructure gap, are hopeful signs.

project, which is part of the Biden administration's sustainable and reciprocal strategy to Africa, is expected to open up a slew of opportunities for investors in both the US and Africa.

Africa requires strong relationships to handle its development difficulties, including maximizing its trade and investment opportunities with key global players. As a result, the revived Prosper Africa

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With the recent changes in the leadership of the firm, Olaniwun Ajayi LP, is poised to reenact her position as the trusted leader in the African Legal Market. In this exclusive interview with Tominiyi Owolabi, and Wolemi Esan, the New Managing Partner and Deputy Managing Partner Respectively, Lere Fashola sought to know more about the rationale for the changes and what lies ahead.

Olaniwun Ajayi LP recently announced some major changes in the Firm's leadership. What is the significance of this development to the firm and the lawyers?

Firm - We are on the eve of our 60th year anniversary, so this change could not

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have come at a better time.

The evolution of the Firm means that we must make our clients flourish, we must make them succeed. Our evolution is a child of mobility, humility, passion, determination, fidelity, ingenuity, resilience, and the

sacrificial nature of the good people of the Firm. They and they alone, plus the society that gave us the opportunity to prove these things, are the owners of our evolution.

For our people, our cosojourners, this change breeds hope. This change is the physical manifestation that indeed you can rise through the ranks from a Youth Corper to leading the Firm as Managing Partner. It also encourages our lawyers

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Our evolution is a child of mobility, humility, passion, determination, fidelity, ingenuity, resilience, and the sacrificial nature of the good people of the Firm.

Our clients should expect that Olaniwun Ajayi LP will continue to leverage on the new ways of work and the platform economy in the emerging metaverse harnessing the latest technology and the best talent to deliver our legal services quicker and better.

We recently advised the International Finance Corporation Venture Capital on its recently announced US$23Million investment in Bolt Technology OU (Bolt) which we are sure will enable Bolt to expand its service offerings generally in Africa, as it is now better positioned to support entrepreneurship, women empowerment, and increased access to affordable mobility services in Africa.

to be diligent, dogged, and dynamic. With these three qualities, the possibilities are limitless.

With these changes in the leadership of the firm, does this mean the erstwhile Managing and Deputy Managing Partners are going away?

Although our erstwhile Managing Partner and Deputy Managing Partner will be stepping down from

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the Firm's day-to-day leadership an administration, they will continue to remain Partners with the Firm and continue to provide most valued counsel to the Firm and its clients, including overseeing the Firm's portfolio of commercial dispute resolution matters within Nigeria and beyond.

As the Firm evolves, what new things are you bringing

to your clients?

Our clients should expect that Olaniwun Ajayi LP will continue to leverage on the new ways of work and the platform economy in the emerging metaverse harnessing the latest technology and the best talent to deliver our legal services quicker and better.

Our clients should also expect that we will continue to exceed their expectations on the manner they are

already accustomed to. Our aim is to become a trusted advisor to all our clients.

I note that Olaniwun Ajayi LP is approaching its 60th anniversary- that is a very long journey in the life of a professional services firm.

What do the next five years hold for Olaniwun Ajayi?

What kind of growth can we expect to see?

We intend to grow from a 15-person partnership

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supported by 100 lawyers, to having a bench strength of 500 lawyers in the next two to three years. Our presence will be felt across Africa and the world. We want to give pride to the continent; and show the richness of what can come out of Africa. More importantly, we want our clients in referring to Olaniwun Ajayi LP to say that is my trusted adviser, not my lawyer. We hope

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that the market affords the Firm greater respect, not just as the most prestigious law firm, but as one of the largest professional services firms out of Africa.

Accordingly, the disruption has made one thing clear, our prospective clients need lawyers who see themselves as not an extension of their client's in-house legal team but as part and parcel of the team. Importantly, lawyers must be able to tailor their service offerings in the broader context of their client's business and corporate strategy.

Olaniwun Ajayi LP will continue to implement its growth strategy in line with these key points and follow our clients as they expand beyond Nigeria and the continent.

Everyone is talking tech these days. Whether as a business and as a lever, What are your predictions for technology is one of the the future of lawyers – most common topics today. client's relationship in What role will technology Nigeria? play in shaping this future?

We live in an ever-changing world, evidenced by the disruption caused by the COVID-19 pandemic.

The starting point is that technology has defined the present and dictates the future. Those who failed to

embrace technology quickly become redundant. As a firm, we have always embraced technology. There has never been a time when technology did not shape the future or was not at the heart of our brand promise.

This is not just to appear cool or forward thinking but primarily to ensure we meet our objectives of delivering work output quicker, cheaper, and more qualitatively for the benefit of our clients.

At one point, the advent of electronic typewriters enabled us deliver output more efficiently than most, while at another time, the use of personal computers delivered a new level of efficiency that the market appreciated. We embraced this very quickly at the time, and it is that mindset that has enabled us embrace new technologies such as artificial intelligence that

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ensures agreement drafting times are quicker and also ensure more qualitative output to drastically minimise and eventually eliminate human error in our work. It truly is an exciting time, and we are very pleased of our significant investments in new technology to revolutionise the world of work.

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Considering the present state of the Nigerian economy, are you confident there will be buoyancy in commercial transactions soon?

Our Firm is one that has always thrived in headwinds. The benefit of being as old and savvy as we are, is that we are uniquely positioned to advise even on those limited opportunities in the midst of headwinds such as the

Nigerian Civil War, decades of military rule, militancy and even international sanctions (as was the case under the Abacha regime).

Consequently, we are first looking at ensuring we assist our clients to execute their goals even in the midst of the current headwinds in the economy in a manner that preserves value for our clients even in these times.

For us, we are in growth mode, not only in thinking

about ourselves, but also in transposing that mindset to our clients, such as to ensure we all build the right foundations and platforms to build upon even as the economy strengthens.

This said, we do know there are real macro-economic issues that are discouraging investments at the levels we have seen in the economy.

We are however gratified with the resilience of

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The starting point is that technology has defined the present and dictates the future. Those who failed to embrace technology quickly became redundant.

Aside from this, we have been assisting our clients in ESG related investments even as they emerge to deal with global problems related to climate change - which is rocking the foundations of the global economy today.

Our Government Business team were also instrumental in drafting the recently enacted Banks and Other Finance Institutions Act, 2020 (BOFIA), which has revolutionised the regulation of Banks and other finance institutions in Nigeria and made regulations more nimble to encourage fintech expansion in our economy.

Nigerian and African businesses. Aside this, we have been assisting our clients in ESG related investments even as they emerge to deal with global problems related to climate change - which is rocking the foundations of the global economy today. Pushing the envelope is that we see that our clients are now more reliant on alternative forms of dispute resolution which are nimbler and quicker in

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light of delays occasioned in courtrooms. In light of this, we are proud of our leading work in this area that has enabled our clients in a stressed environment resolve disputes in a quicker and efficient manner, such as not to be bogged down by the court system etc. In all, it is an exciting time, and we are here to work with our clients as they breast the challenges and create new opportunities for economic

prosperity in a stressed business environment.

Olaniwun Ajayi has earned a reputation on working on exciting and headline deals.

What are some of your recent landmark transactions?

It is usually difficult to narrow this down, as we have been privileged to work on the most innovative and market defining transactions over the course of the past few years resulting in our recognition in 2020, as the Nigerian law firm of the year by IFLR1000 (arguably the most respected directory of law firms globally). In addition to the distinction of being regarded as the best law firm in Nigeria, we are incredibly honoured to have emerged Nigeria's top firm in the “Capital Markets” and “Loans” categories – arguably, the most economically significant

aspects of commercial legal practice in Nigeria. We are also delighted that two of the many market shaping transactions on which we advised were singled out for recognition – the Airtel Africa IPO was recognised as the “Capital Markets Deal of the Year”, while the Savannah Petroleum/Seven Energy Restructuring (incorporating the work we did in our role on the debt restructuring of Accugas, an entity in the Seven Energy group) was tagged the “Restructuring Deal of the Year”.

Aside these, another important transaction for us was our work as Borrower's counsel to the Nigerian Liquefied Natural Gas Company Limited (NLNG) in respect of a circa US$3Billion loan to fund the building of their Train 7 project. Asides the fact that NLNG is the largest LNG

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For us, as a Firm, we are guided by a higher ideal to represent the very best of African exceptionalism - and we operate with a greater “why” which is beyond commercial success (which is important), but to demonstrate the best of Africa to the world. company in Africa and a pride of Africa, this project was important as it has now created a precedent for financing such LNG deals globally, and it is critical for a world moving to more sustainable sources of energy. We are pleased that it was recognised as the project finance deal of the year by the reputable PFI journal that tracks the most significant project finance deals globally.

Even as we seek to combat the effects of climate change, we are clear that charity does begin at home, and it is critical that we deploy our skills for transactions that help us move away from fossil fuels even here at home in Nigeria. In light of this we recently advised on the first listed infrastructure debt fund in Africa on the construction of solar minigrids across twenty-two communities across Oyo and Kwara State in Nigeria, under the Nigerian Electrification Project managed by the Rural Electrification Agency. The project is one of the largest of its kind and is the first phase in a series of

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renewable mini-grid projects and will significantly contribute towards the provision of renewable, clean, and reliable power supply to rural unserved and underserved communities in Nigeria, in a sustainable manner.

Beyond private sector led transactions, we are conscious that our work should push the envelope for the greater public good, and for this reason, we consistently provide our services for public sector transactions. It is for this reason we advised the First Investment Development Company Limited on the concession of the Asaba International Airport in Delta State, Nigeria - which is the first full brown-field airport concession in Nigeria, and we expect that its success will make the South-South region of Nigeria a key trading hub in Africa. Our Government Business team were also instrumental in drafting the recently enacted Banks and Other Finance Institutions Act, 2020 (BOFIA), which has revolutionised the

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The truth is that change is inevitable, and we daily seek to ensure that our practices mirror the 21st Century and like our counterpart firms in the city, we have updated our processes to become more automated and nimble and we trust that the regulation of the practice in Nigeria will also become more proactive than reactionary in its approach regulation of Banks and other finance institutions in Nigeria and made regulations more nimble to encourage fintech expansion in our economy.

Olaniwun Ajayi LP has been around for almost six (6) decades and it has maintained a consistent position at the top, what is the secret?

Thank you. Actually, November next year will mark six (6) decades since we have been satisfying and exceeding client expectations in Nigeria.

Our mantra has always been quicker and better, and it is not because management books are red, it is just a matter of culture and style, a sense of the way to do things. The way we operated before we had the ability to turn things around electronically, was to kill sleep and that was the manner in which the Firm initiated itself into the market, especially the capital market which is what really opened up Olaniwun Ajayi LP as a prestigious law firm.

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Because at that time, the Nigerian capital market was small and big. Big because the multinationals used the Capital Markets, and it was the most prestigious thing you could do at that time whether with an IPO or a merger and acquisitions because there were few of them and we were able to get in because we were able to turn things around the quickest.

We have tried to be bold, audacious, taking risks and trying to be a standard beyond all and we've been very lucky to have a loyal set of people that are wedded to the higher notions that I spoke of before, the higher notions of being a standard beyond all in the service to humanity and mankind.

Fintech and other emerging technologies are now seen as the new oil well. How is the law firm contributing to the development of the investment space in the sector?

Our Fintech practice remains one of the biggest contributors to the

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promotion of investments in the fintech sector in Nigeria and this is evidenced in our participation in the most exciting deals in the sector.

For instance, we recently advised the International Finance Corporation Venture Capital on its recently announced US$23Million investment in Bolt Technology OU (Bolt) which we are sure will enable Bolt to expand its service offerings generally in Africa, as it is now better positioned to support entrepreneurship, women empowerment, and increased access to affordable mobility services in Africa.

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www.esq-law.com www.esqlaw.net

We intend to grow from a 15-person partnership supported by 100 lawyers, to having a bench strength of 500 lawyers in the next two to three years.

In addition to our advisory expertise (on transactions and deals in the sector), we also facilitate some of the notable and impactful partnerships and strategic expansions in the sector. In this regard, we recently advised Flutterwave on its African wide partnership with Ecobank Transnational Incorporated for the provision of digital business and banking solutions to support business growth across Africa.

in the Fintech sector as we have been consistently ranked by Chambers and Partners in the past few years in the Tier-1 category as a market leader in the Nigeria's Fintech sector which we are incredibly humbled by. Also our lawyers in our dedicated fintech practice have drawn local and international acclaim as leading practitioners in the Tier 1 category for their work in the fintech space.

great responsibility to meet and resolve the most difficult challenges that may present themselves confident that our precedent of rising to challenges and redefining the Firm in the past, will enable us adapt to the times, and ensure that our Firm for all seasons meets not only our clients' needs today and in the future, but also those of society - even where we are called upon to render services pro-bono.

We are also trusted advisors to many of the household names in the technology sector, and in this role, we help these businesses navigate the legal, and regulatory landscape in Nigeria, thereby making it possible for the technology businesses to focus on innovating and acquiring customers, markets, and businesses, while we remain their legal backbone.

One firm is known for its hard-charging partnership and multinational oil and gas clients, while another is regarded as family friendly with a commitment to pro bono. Are these descriptions public relations smokes and mirrors? Are they realistic in Nigeria?

What about law practice itself? Is the regulation supporting time tested innovative growth that can support innovations?

Finally, we are constantly in touch with the regulators, and we actively drive innovative and progressive policy changes in the technology sector.

We have also been recognised for our landmark contributions to investments

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We don't think these are smoke and mirrors but really about the ideals that drives a firm. For us, as a Firm, we are guided by a higher ideal to represent the very best of African exceptionalism - and we operate with a greater “why” which is beyond commercial success (which is important), but to demonstrate the best of Africa to the world.

Driven by this ideal, we feel

There is always a need to rethink our regulations and move with the times.

Indeed, the tools of the lawyer, unlike the construction worker is the law. But the law is not static, but dynamic in its fluidity.

Its expression changes over time and with critical thought and debate, new formulations of established principles are bound to happen - this should also be the same in terms of legal regulation such as the Rules of Professional Conduct and the general regulation of the practice of law in Nigeria.

We are grateful that the Nigerian Bar, under its

current leadership has taken some innovative steps in this regard.

For us as a Firm however, we always seek to innovate within the flexibility offered by our regulations. For this reason, every task that comes into OALP is manned by the most innovative and sophisticated counsel, with that sectoral expertise, in the market. With the collegiate structure that we operate – every task is thereafter subjected to the highest standard of review, such that the OALP seal on any document comes with a guarantee of competence, delivery, and tailor-made solutions to resolve the most intractable positions comparable to competitors on a global rather than a purely localised market. The truth is that change is inevitable, and we daily seek to ensure that our practices mirror the 21st Century and like our counterpart firms in the city, we have updated our processes to become more automated and nimble and we trust that the regulation of the practice in Nigeria will also become more proactive than reactionary in its approach.

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OUTSIDE COUNSEL GUIDELINES: 7 THINGS YOU MIGHT HAVE MISSED Outside counsel guidelines (OCG) differ greatly from firm to corporation and can be hundreds of pages long, supposedly covering any eventuality that could arise between in-house and outside counsel. Longer, more specific instructions, on the other hand, aren't always better for the organization. In fact, the majority of businesses (66 percent) believe OCGs are overly complicated, making compliance impossible. Documented guidelines are only meaningful if outside counsel reads them and follows them.

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utside counsel guidelines, on the other hand, can be a useful instrument for managing spend and controlling billing processes provided they are correctly implemented. Automatic invoice rejections and a designated supervising

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attorney are two oftenoverlooked features you should add in your OCG to make it clearer and more effective.

We've identified seven elements that, if included in your OCG, will help enhance your billing process

as well as your relationship with outside counsel.

ACTUAL DIRECTION Guidelines for outside counsel are meant to be guidelines, not a one-sided list of requests from inhouse teams to outside

counsel.

In-house teams frequently cause problems for themselves by adding to OCG over a long period of time. They gradually devolve into a set of regulations aimed solely at preventing abuses the

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organization has experienced in the past.

However, as rules become lengthier, they become less effective—40 percent of businesses believe OCG makes it more difficult to interact with clients.

Outside counsel guidelines must be instructive and valuable to all parties in order to be effective. OCG should assist all parties in understanding and agreeing on processes, ensuring that everyone is on the same page.

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Remember that OCGs are not contracts, but rather frameworks for a productive and communicative partnership between inhouse teams and outside counsel. Consider the following passage from a CLOC sample template:

expect not only from ourselves, but also from our vendors and partners. We believe that moving away from typical hourly charging and toward alternative fee arrangements (AFAs) will result in a

"[insert company name] is a firm believer in new ideas."

It's one of our key beliefs, and it's something we

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By designating a point of contact, you can ensure that all documentation, invoices, inquiries, and casework are sent via the same individual inside your firm. All of your communication should be funnelled through one source to limit the chances of something being lost in the wrong person's inbox more long-term, engaged, and predictable engagement with outside counsel.”

Rather than laying out a formal regulation, this paragraph highlights the company's beliefs and billing choices as they relate to those principles.

Focus on guidance when writing your OCG. Use your OCG to describe the role of outside counsel and how sticking to the requested protocols will help your team and theirs maintain a better working relationship.

AUTOMATIC REJECTIONS AND REDUCTIONS OF INVOICES If your in-house staff automates any components of invoice processing, your outside counsel guidelines should clarify when bills are identified, denied, or lowered automatically.

Defining your automatic invoice flagging, rejection,

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and reduction procedure can help you better manage your budget and time. Over 43% of businesses have had 5-10% of their bills reduced or rejected, and over a third of businesses have had 21% or more of their invoices reduced or rejected.

Outside companies are used to invoice modifications, but they'll be satisfied with the partnership if they have clear standards to follow to reduce those concerns to a minimum. Your in-house staff may spend less time looking for overbilling while still following to the agreedupon budget with the help of clear guidelines and automations.

APPOINTMENT OF A SUPERVISING ATTORNEY Appointing a supervising attorney gives your outside counsel a specific point of contact (POC) and assures that the relationship is being monitored.

By designating a point of contact, you can ensure that all documentation, invoices, inquiries, and casework are sent via the same individual inside your firm. All of your communication should be funnelled through one source to limit the chances of something being lost in the wrong person's inbox.

Designate the supervising attorney and what information/processes should be provided to that individual using your outside counsel criteria. This clause doesn't need to be too specific—it can just declare that all communication occurs through this specific POC. "[insert company name] shall assign a supervisory attorney to each subject ("Legal Contact")," CLOC's OCG template says in just two sentences. All communication between outside counsel and [insert company name] personnel should go through the

designated Legal Contact unless the Legal Contact agrees otherwise."

The simpler the process is for outside counsel to grasp, the more likely they are to follow it.

THE APPEALS PROCEDURE It's easier for your organization to go through and answer appeals if you have an uniform appeals process in place, especially if you operate with numerous outside firms.

Allow outside counsel to know how to file an appeal by anticipating questions like: Where should appeals be sent? Ÿ Do they have to go through an automated appeals process? Ÿ Do they need to include a specific set of information? Ÿ What is the timescale for the in-house team to review appeals?

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Your team won't have to sort through different forms of appeal requests for each outside firm if you clearly outline how to file them.

Many businesses continue to use antiquated methods such as redlining with ink and paper or taking notes in Excel spreadsheets.

Providing outside counsel with the information they need to file an appeal in your preferred format might help expedite the appeals process.

It's also easy to remain on top of accruals and plan your budget based on expected bills if you require budget projections. You can also use this area of your OCG to outline the method and structure for submitting budgets, making them easier to track and organize.

TIMELINE FOR BUDGET FORECASTING

SUMMARIES THAT ARE SIMPLE TO UNDERSTAND

A budget forecast schedule necessitates accurate budget predictions from outside counsel, which helps your organization keep on top of accruals management.

Outside counsel guidelines, no matter how well-crafted, are only useful if the outside firm's attorneys read them.

If you include a good summary, your guidelines are more likely to be read and followed.

Your outside counsel guidelines should provide a timeframe for firms to produce a budget projection (for example, within 10 days of the start of a new matter) so that they can plan ahead and capture the relevant information.

Remember that these parameters must benefit all parties, therefore include a deadline for your in-house staff to examine and approve the budget. If a budget requirement arises after invoices have been received, setting expectations decreases the likelihood of a problem.

Your outside counsel guidelines should provide a timeframe for firms to produce a budget projection (for example, within 10 days of the start of a new matter) so that they can plan ahead and capture the relevant information

Because 43 percent of companies don't read OCGs because they're too extensive and contain too much information, include a concise, easy-to-read summary for each part to avoid information overload.

Summaries make it easy to skim through a document and guarantee that at least the most important aspects are covered.

Include an overview summary at the start of the OCG paper that explains the most key conclusions.

The ultimate goal is to make the most important aspects

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as clear and obvious as possible so that the instructions are more likely to be followed.

to enforce policies and resolve issues because outside counsel cannot claim ignorance.

RECEIPT AND UNDERSTANDING CONFIRMATION

REGULARLY REVIEW YOUR OUTSIDE COUNSEL GUIDELINES.

Incorporate a signature page into your outside counsel guidelines to ensure that the outside firm's lawyers have received and comprehended the document.

Many organizations set outside counsel rules early on and then simply add to them over time. As a result, the document is needlessly extensive and contains outdated—if not fully obsolete—guidelines. Since a decades-old set of standards was created, processes for invoicing and appeal filings, for example, will almost definitely have been modified.

Only 56% of lawyers know what is in the rules for the cases they handle on average. You can't expect much in terms of compliance if more than half of the firms you work with are unfamiliar with your OCG. Outside counsel may not be forced to read OCG extensively, but requiring a signature page to affirm reception and knowledge will make them think twice about disregarding them entirely.

Include directions for reading the rules as well as a deadline for returning the signature sheet when delivering your OCG.

At least once a year, review your outside counsel guidelines to ensure they are current and correct any erroneous information.

Having an up-to-date set of guidelines that are devoid of extraneous information will aid in the development of a strong connection with your outside counsel and enhance the likelihood that all of your guidelines will be reviewed and followed.

While the goal is for outside counsel to read the document in its entirety, signature pages make it easier for your in-house staff

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CAN LAWYERS HAVE TATTOOS? Lawyers are seen as conservative professionals by many people, and who can blame them? Most of the time, lawyers are spotted wearing suits and carrying a briefcase full of important documents. However, many lawyers are hiding ink under their suit sleeves. As other professional fields are becoming more accepting of tattoos, the legal field is too.

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revious generations frowned upon lawyers having tattoos, seeing them as unprofessional and distracting. However, times are quickly changing. As millennials hold higher positions of power in the legal field, tattoos are becoming more accepted for lawyers to have. Tattoos do not affect their job performance and are a form of art that tells a person's story and shows individuality. Even though tattoos are more accepted, there are still some things that a lawyer must consider before booking a tattoo appointment.

Are you a lawyer wondering if you can get a tattoo? Or considering law as a profession? If so, read on to learn what tattoos are acceptable, where you can have tattoos at, if your ink always has to be covered, hiring potential with tattoos, and how many lawyers

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already have tattoos.

What Tattoos Can Lawyers Have?

When choosing a tattoo, lawyers should steer clear of anything offensive to most people. Even if it can be covered by a suit, offensive tattoos are something that is frowned upon in all job settings. Plus, with law being one of the most professional settings to work in, it is crucial that you don't have any tattoos that would hamper your image An offensive tattoo will negatively affect a lawyer's image as a professional.

Even if the tattoo can be covered, if it were to be discovered by a client or a co-worker, it could ruin their career. The client may post about their lawyer's poor tattoo choice on social media, steering potential clients away from hiring them. A co-worker spotting their questionable tattoo

might even cost them their job. If deeply offended by the tattoo, the co-worker could file a complaint to their boss stating that they are uncomfortable working with someone willing to display things like that on their body. Assuming that the boss was unaware of the tattoo in the first place, the lawyer can kiss their position good-bye as well as a positive referral when looking for other employment.

If you are a lawyer and are considering getting something that others will view as offensive, stop and think about how it would impact your career in the future. Is an offensive tattoo something worth losing your hard-earned job over?

Three years of law school, the bar exam, and internships will have all been for nothing if people discover your tattoo.

Where Can Lawyers Have Tattoos at?

Lawyers should have tattoos

anywhere that can easily be covered up by clothing. Meaning, they should avoid getting tattoos on their face, neck, or hands if they want any chance of being hired. Lawyers still have a professional image to maintain in most people's eyes, even if tattoos are becoming more acceptable.

Many lawyers still see visible tattoos as unacceptable in the firm that they work for. Legal Cheek's poll reveals that 60% of lawyers still believe that visible tattoos are unprofessional. However, this doesn't mean that a lawyer can't have any tattoos at all. Tattoos that are covered by work clothes are acceptable. Everyone in the legal world wears long

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sleeves all the time anyway, making it very easy to cover up almost any tattoo.

As long as a lawyer's tattoos can be hidden by professional wear, having some ink will not harm your career. Most firms don't care if their employees have tattoos as long as they can still maintain a professional appearance while on the job.

Do a Lawyer's Tattoos Always Have to be Covered?

It's clear that lawyers can only have tattoos that can be covered up by professional attire. But, do the tattoos have to be covered at all times? Law firms are still highly conservative workplaces, despite most individuals believing that it's okay for lawyers to have tattoos. Even if the tattoo is small and inoffensive it

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should still be able to be covered otherwise, they may be viewed as unprofessional individuals.

The most crucial time for a lawyer to cover-up their tattoos is when they are appearing in court. The court is the most conservative setting that lawyers work in, they are expected to appear as professional as possible in front of the judge and jury.

With a visible tattoo, the judge and jury may hold a bias against the lawyer and not take them seriously.

Tattoos are seen as harmless but having one visible in court can cause you to lose the case depending on the views of the judge and jury.

Client meetings are also a place where a lawyer should have their tattoos covered.

The client may see the lawyer as unprofessional if they have tattoos that are visible meaning, they are less likely to follow their legal advice.

Getting a tattoo on your finger may seem like a good idea at the time but, if you plan on going into a field as professional as law you may want to think twice. You would be better off getting that tattoo you've always wanted somewhere that it can be hidden easily, especially if you plan on being a lawyer that has to appear in court.

Will Tattoos Reduce a Lawyer's Hiring Potential?

Clients look upon lawyers as professionals who should maintain a respectable appearance. With that being

said, most clients do not mind if their lawyer has tattoos as long as their work performance isn't hampered.

There are still some clients, however, that are uncomfortable with their lawyer having tattoos. These clients view tattoos as unprofessional and a sign that a lawyer may have poor judgment or make rash decisions that could impact their work. They still see the legal system as a highly conservative environment, and lawyers still have a professional image to maintain. However, these clients shouldn't be an issue as long as the lawyer's tattoos are covered whenever they meet with their clients.

Many law firms are also indifferent to their employees having tattoos, again, as long as they're covered up, they won't be an issue when being hired.

Some lawyers who don't have to appear in court for their job are now have uncovered tattoos.

Regardless, there are still

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THE VALUE OF YOUR LEGAL DEPARTMENT TO STAKEHOLDERS IN LEGAL METRICS Legal departments bring value to businesses. However, when legal departments do not earn revenue directly, this is difficult to prove. Legal bills, on the other hand, are in the millions of dollars each year, with an average of $5,794,148 in 2019, according to an Association of Corporate Counsel (ACC) report. To be able to show your worth, you must track and report on legal metrics.

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he majority of resources that tell you what to track to demonstrate your worth focus on the more visible legal spend metrics like cost per matter and outside counsel spend. However, if you solely measure and report on those spend KPIs, your legal department will be perceived as a cost center rather than a strategic business partner. So, how can you promote yourself as a strategic partner in business?

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Start tracking indicators like matters handled, spending by practice area, spending as a % of revenue, discounts, and alternative fee arrangements if you haven't already. These figures illustrate not only how much your legal department spends, but also how much revenue and savings the legal department has contributed to the company.

Resolved issues The number of legal tasks your department initiated and finished for the

organization in a certain time period is referred to as matters handled. Everything from your company's litigations, arbitrations, and personnel concerns to regulatory matters, franchise transactions, and mergers and acquisitions are considered matters.

You must keep track of the matters handled, their average cycle time, and the impact or prospective loss—or result—that would have occurred if the matters

some old-school attorneys that view tattoos as unprofessional, but they are becoming few and far in between and many are even warming up to the idea of lawyers having tattoos. So, if you're considering getting a tattoo and are worried about whether or not a firm will still be willing to hire you, just make sure that the tattoo can be covered easily

had not been handled properly. You'll be able to show the company's costbenefit analysis rather than just the cost. For example, in the case of a new franchise agreement, this measure can be a direct indicator of money generated by your department. You demonstrate to stakeholders how much legal work your department conducts to resolve conflicts and avert damages in the case of arbitrations.

lawyer would have no shot at making it in law if they had any tattoos. Today, as long as a lawyer can do their job and maintain a professional appearance, their tattoos will not affect their hiring potential. Even so, lawyers should still be cautious and make sure that they can cover up their tattoos for court appearances and client meetings.

Times are quickly changing, in the past, an aspiring

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General counsels and corporate legal departments' first thought will often be to use a manual method to track legal concerns (looking at your spreadsheets and databases). However, they are inefficient, and they are frequently dispersed over numerous systems, resulting in only partial views of events.

your organization needs to hire outside counsel for litigation on a regular basis.

With this knowledge, you'll be able to convince stakeholders that investing more money in in-house counsel to handle litigation is a better long-term investment.

Spend according to your area of expertise.

When compared to a business's total generated revenue, spend as a percentage of revenue is the percentage of the actual amount spent on legal work.

The measure of how much resources distinct types of legal work for your organization use is called spend by practice area (i.e., how much time, money, and effort you spend in areas like employment, intellectual property, contracts, litigation, and so on).

You should track and analyse spend by practice area since it tells stakeholders what kind of work is being done and where cost savings might be found. For example, analysing your spending by practice area may reveal that

How Many Lawyers Have Tattoos?

A study conducted by the University of Minnesota revealed that 45% of law students have at least one tattoo by their graduation.

This is a much higher percentage than students in other conservative fields of study with almost no business majors getting tattoos and only 9% of female and 20% of male premed students having

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Spend as a percentage of revenue

According to CLOC, the average spend as a proportion of firm sales in 2019 was 0.44 percent. To demonstrate that legal costs aren't simply rising, track your expenditure as a % of revenue—especially if your real spend is increasing.

When you display spend as a percentage of sales rather than just spend, you may illustrate that spend is growing at a similar rate or even slowing year over year.

tattoos.

The percentage of individuals in the legal field with tattoos is more than double that of other professional fields. Many just can't see the tattoos that lawyers have because they have them in places where they can be hidden by professional clothing.

Conclusion – Can Lawyers Have Tattoos Tattoos are becoming more

Spend as a percentage of revenue is calculated as X = S (100)/R (spend multiplied by a hundred, divided by revenue).

So, if your legal department's budget is $2,000,000 for a year in which your firm generates $2,000,000,000 in revenue, your legal department's spend as a proportion of revenue is 0.1 percent.

AFAs and outside counsel rate discounts The sums you successfully negotiate and pay vendors in place of the normal rate are known as alternative fee arrangements (AFAs) and savings on outside counsel charges. Despite the fact that billable hours are the industry standard, many businesses are switching to AFAs since they pay for value delivered rather than time spent on a project. You pay based on time spent executing activities rather than value gained if your law firms bill by the hour.

Even for the same work,

common nowadays. Many people would steer clear of getting any tattoo if they had plans of entering a professional field, including law. However, more than 36% of individuals aged 1825 have tattoos now, which is quite a large chunk of young professionals.

Law firms must keep up with the times and realize that the generation entering the workforce is not as conservative as the previous.

hours can vary greatly.

AFAs and discounts are important to manage because they demonstrate stakeholders that you're keeping outside counsel expenditures within check without losing quality.

Legal departments bring value to businesses.

However, when legal departments do not earn revenue directly, this is difficult to prove. Legal bills, on the other hand, are in the millions of dollars each year, with an average of $5,794,148 in 2019, according to an Association of Corporate Counsel (ACC) report. To be able to show your worth, you must track and report on legal metrics.

Make your worth known.

Legal departments are a valuable business resource.

Don't let the cost of legal services discourage you from demonstrating and stressing your value to your firm, whether through matters managed, discounts, or AFAs, for example.

Millennials do not view tattoos as an obstruction to an individual's professionalism, they're simply viewed as a form of self-expression. As millennials are rising to the top of the legal ladder, they're making it more acceptable for lawyers to have ink. So, lawyers can get that tattoo that they've always been too scared to get as long as it's not offensive and can be covered up.

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2021 Volvo XC90 A three-row SUV with a spacious interior and style to spare, the 2021 Volvo XC90 is well suited for luxurious family duty. It's Volvo's biggest vehicle and it gives you sevenpassenger seating plus more available cargo space than its smaller XC60 sibling.

E

very XC90 comes with a turbocharged four-cylinder engine.

This might seem odd given that six-cylinder engines are the norm for this class, but Volvo has applied enough techno-wizardry to make it work. There are actually three engine versions, which Volvo calls the T5, T6 and Recharge (formerly called the T8). The Recharge is a plug-in hybrid with an impressive 400 horsepower plus 18 miles of electric range. Volvo made noticeable improvements to the suspension and brakes last year that significantly elevated the hybrid's standing in our eyes.

With that upgrade in the rear-view mirror, and a next-generation model a few years away, not much changes for the 2021 model.

Adaptive headlights, a wireless charging pad and

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front parking sensors are just a few of the newly standard features, and the interior trim and upholstery colour combinations have been shuffled slightly.

Otherwise, the XC90 is the same as it's always been, which is to say a fully competitive luxury crossover SUV with a surprisingly affordable price tag. It costs less than other three-row SUVs yet offers a broader range of standard safety and convenience features. At the same time, the XC90's distinctive exterior and cabin designs help it stand out. Whether you're looking to make a statement or simply save a few dollars, the pull of the XC90 is hard to resist, even in this illustrious class.

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As with many vehicles in the class, the Volvo leans noticeably around curves, but its steering responses are accurate, and the wheel has a pleasing heft that splits the difference between feather light and heavyweight. The test car had the optional air suspension and provided a pleasant, insulated ride, and it handled most road situations well

Engine, Transmission, and Performance The XC90 can be had in three versions, all of them riffs on the theme of Volvo's 2.0-liter turbo four. The base model features the 250-hp turbocharged T5 engine paired with front-wheel drive. The more powerful T6 version adds supercharging to the turbocharging system to result in 316 horsepower.

It's optional in the base Momentum trim and standard in Inscription models; the engine only pairs with all-wheel drive.

The 400-hp plug-in hybrid XC90 T8 starts with the T6 powertrain and adds two electric motors and a charging port on the exterior. All XC90 engine variants are paired with an eight-speed automatic transmission, and are rated to tow 5000 pounds, a respectable but not

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extraordinary figure for a vehicle this size. As with many vehicles in the class, the Volvo leans noticeably around curves, but its steering responses are accurate, and the wheel has a pleasing heft that splits the difference between featherlight and heavyweight. The test car had the optional air suspension and provided a pleasant, insulated ride, and it handled most road situations well.

Fuel Economy and RealWorld MPG With the exception of its plug-in-hybrid powertrain, the XC90 achieves similar EPA ratings to those of its V6 competitors. The turboonly version is rated at up to 21 mpg city and 30 highway, but the turbo- and supercharged version sees those figures drop to 19 mpg and 28 highway. Tests

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The XC90's interior is a masterpiece of the medium. From the attractive design to the quality of the materials, we wish there were more vehicles like this

revealed the latter on our 75mph highway fuel-economy route, which is part of the extensive testing regimen, and observed 27 mpg. The plug-in hybrid earned 29 MPGe in the same realworld test. It also has 18 miles of estimated allelectric range, but that's

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shorter than other plug-inhybrids in this class such as the BMX X5 (31 miles) and Lincoln Aviator (21 miles)

Interior, Comfort, and Cargo The XC90's interior is a masterpiece of the medium.

From the attractive design to

the quality of the materials, we wish there were more vehicles like this. Adults won't be happy in the third row, despite the fact that it offers more legroom than similar rivals, but preteens can probably be persuaded, provided the journey is short. The XC90's wide,

boxy silhouette helps in the cargo-hauling department, but interior compartments aren't as cavernous as in some competitors.

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Pricing

infotainment system is standard in all XC90s, and its operation is mostly

improved by adding more redundant hard buttons.

Safety and Driver-Assistance Features The 2021 XC90 earned a five-star crash-test rating from the National Highway Traffic Safety Administration (NHTSA), and the last version that was evaluated by the Insurance Institute for Highway Safety (IIHS) was named a Top Safety Pick. Volvo's commitment to safety is legendary, and its three-row crossover has a loaded roster of driver-assistance technology. Key safety features include:

Infotainment and Connectivity A handsome, tabletlike 9.0inch touchscreen

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intuitive. Every model has Apple CarPlay and Android Auto capability; a mobile Wi-Fi hotspot is optional.

The system could be

Ÿ Standard forwardcollision warning and automated emergency braking. Ÿ Standard blind-spot monitoring and rear cross-traffic alert. Ÿ Standard lanedeparture warning.

The 2021 Volvo XC90 T5 has a $49,695 (a little over N20 million) starting price, which is a bit lower than average for a luxury midsize SUV. The starting prices rise to $57,645 (N23.6 million) for the zippier XC90 T6 and $63,450 (N26 million) for the T8 plug-in-hybrid model.

Final Call Volvo's largest SUV is best had with the mid-range T6 engine—a 316-hp turbo- and supercharged 2.0-liter fourcylinder—and dressed in rich Inscription trim.

Stepping up from the midrange R-Design to the Inscription adds a host of features that we expect luxury SUV buyers will have on their short list. This includes statelier exterior trim, 20-inch wheels, a fully digital gauge cluster, lanekeeping assist, nappa leather upholstery, ventilated front seats with massage functions, and a Harman/Kardon audio system.

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BOLD STEPS: OLANIWUN AJAYI OPENS LONDON OFFICE

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We are excited to welcome Howard Barrie, Chuks Ibechukwu and Gabriel Onagoruwa as we launch our new cross-border practice in the City of London“Law firm Olaniwun Ajayi has opened an office in London, its first outside of Nigeria, hiring three partners with international experience, among them a project finance lawyer with an extensive background at global firms and a long history of representing governments and corporate clients.

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Senior project finance lawyer Howard Barrie is among the founding partners of Olaniwun Ajayi’s London office.“A new office. An Expanded offering. New faces.

W

e are excited to welcome Howard Barrie, Chuks Ibechukwu and Gabriel Onagoruwa as we launch our new cross-border practice in the City of London“Law firm Olaniwun Ajayi has opened an office in London, its first outside of Nigeria, hiring three partners with international experience, among them a project finance lawyer with an extensive background at global firms and a long history of representing governments and corporate clients.

Howard Barrie, Chuks

Ibechukwu and Gabriel Onagoruwa have been hired as founding partners of the London office. Project finance specialist Barrie joined after leaving the partnership at Dentons in May this year.

It was his second spell at the international firm, where he still holds a consultancy position, having rejoined in 2018 after seven years at Eversheds Sutherland, where he had been a senior figure in the Africa practice.

He advises on projects and project finance, and on structured trade and commodity finance.

It was his second spell at the international firm, where he still holds a consultancy position, having rejoined in 2018 after seven years at Eversheds Sutherland, where he had been a senior figure in the Africa practice. He advises on projects and project finance, and on structured trade and commodity finance. www.esq-law.com

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He has advised national governments, multilateral and national development finance institutions, project developers and commercial banks on a wide range of projects including power projects, renewables, biofuels, PPPs, real estate, petrochemical plants, mine development finance, process plants, social and transport infrastructure.

Africa is a particular focus and he has worked on transactions in over 16 African countries.

He has advised on many award-winning transactions, is rated in various professional directories and has been shortlisted by the Financial Times for its Legal Innovator of the Year award

[2012]. He has spoken in Africa and the UK on public-private partnerships and project finance and edited and contributed to “Public Private Partnerships BOT Techniques and Project Finance” (Euromoney Books), and is a nonexecutive director of ILFA (International Lawyers for AfricaIbechukwu spent six years as an in-house lawyer with the International Finance Corporation, and has had spells as a corporate, banking and finance lawyer with Latham & Watkins, Allen & Overy and Cadwalader, Wickersham & Taft in London and Dubai.

He is also a committee member at the African

Private Equity and Venture Capital Association (AVCA).

They are joined by project development and finance partner Onagoruwa, who has been recruited after 13 years at White & Case in London, where he rose to counsel.

Dr. Onagoruwa is a highly experienced transactional lawyer who specialises in energy and infrastructure projects in Africa.

His practice focuses on advising development finance institutions, national and international oil companies, commercial banks, multilateral lending agencies, sponsors and developers in relation to large-scale projects, project

He has advised national governments, multilateral and national development finance institutions, project developers and commercial banks on a wide range of projects including power projects, renewables, biofuels, PPPs, real estate, petrochemical plants, mine development finance, process plants, social and transport infrastructure.

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He has advised on many award-winning transactions, is rated in various professional directories and has been shortlisted by the Financial Times for its Legal Innovator of the Year award [2012]. He has spoken in Africa and the UK on publicprivate partnerships and project finance and edited and contributed to “Public Private Partnerships BOT Techniques and Project Finance” (Euromoney Books), and is a nonexecutive director of ILFA (International Lawyers for AfricaIbechukwu spent six years as an in-house lawyer with the International Finance Corporation. www.esq-law.com

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Olaniwun Ajayi is a wellestablished full-service firm in Nigeria, where it has operated for several decades and has more than 100 lawyers on its staff. The firm said the new office would allow it to work on clients’ investments in Africa, while also continuing to cooperate with international law firms, and would practice in the finance, mergers and acquisitions, project finance and private equity fields. ).

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financings, investments and acquisitions across the power, oil and gas, petrochemical and real estate sectors. He has been recognised as a leading individual for finance in emerging markets by Legal500.

Olaniwun Ajayi is a wellestablished full-service firm in Nigeria, where it has operated for several decades and has more than 100 lawyers on its staff. The firm said the new office would allow it to work on clients’ investments in Africa, while also continuing to cooperate with international law firms, and would practice in the finance, mergers and acquisitions, project finance and private equity fields. ).

In a recent post on his former employers website, Gabriel Onagoruwa was sai to have "shown and continues to show commitment to the Nigerian market and this award is appreciation from his peers for his efforts," The hire of Barrie, in particular, brings experience to the practice.

A former head of the African committee at Dentons legacy firm Denton Wilde Sapte, Barrie has worked widely on trade and commodity finance in the mining, energy, renewable energy, petrochemical and transport sectors, and on public-private finance projects. His clients have included private and public sector bodies, including banks and development finance institutions.

Tominiyi Owolabi, who took over as managing partner at the start of September, said in a statement that the new office reflected the firm’s ambition and would “provide first-inkind end-to-end legal services to our clients on projects in Nigeria that demand high-end, specialised English law advice with cross-border transactional support”.

“The office is also the cornerstone for our broader international growth strategy and value proposition to expand our reach so that we can provide a similar integrated solution to clients on projects in other jurisdictions in Africa,” he added.

The office is also the cornerstone for our broader international growth strategy and value proposition to expand our reach so that we can provide a similar integrated solution to clients on projects in other jurisdictions in Africa,” he added.

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WAYS ARTIFICIAL INTELLIGENCE IN LAW IMPROVES THE EFFICIENCY OF LEGAL OPERATIONS In-house legal departments are expected to undertake more legal work with fewer resources nowadays. Department resources (money for employees, technology, and personal retention) were one of the top three main concerns of 2020, according to the Blickstein Group's 13th Annual Law Department Operations Survey. That's why legal departments should think about implementing artificial intelligence (AI) in law, particularly in legal operations: it increases productivity by reducing time spent on tiresome manual chores, allowing you to focus on higher-priority responsibilities.

B

ut what exactly is AI in the legal field?

The use of computersimulated human mental processes and behaviours to legal work is referred to as AI in law. The goal is to perform tasks with fewer resources while maintaining high quality. While legal AI — and even other

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conventional AI such as autocorrect or voicepowered personal assistants — can improve processes based on specified criteria, we are still not at the point where AI can completely replace people. This is especially true in a sector like law, where lawyers are continually constructing

guideline violation check — it marks them so you can do a more thorough AI learns by seeing how you investigation, exactly like a handle various jobs and then human assistant. You may save money and increase the predicting and carrying out the actions you would performance and efficiency normally take. When AI of your legal operations by encounters new scenarios or using AI. Here are four ways regions outside of its AI in law affects legal expertise — such as a billing operations performance. intricate arguments and executing strategic plans.

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AUTOMATED CONTRACTING This means that contract CONTRACT WORKFLOW IS automation AI can help you SPED UP BY AI. cut down on delays caused Contract automation AI, among other things, detects contracts that are lacking important terms you set, substitutes unclear language with pre-approved clauses, and scans contracts for risk indicators.

Legal departments describe being buried in low-value work as a top impediment to generating value, according to our own research. We also discovered that several of the most difficult contract administration duties fall into the low-value work category.

You don't have to go through and fix contracts line by line using contract automation AI. Contract automation technologies like ReviewAI can reliably redline even the most complex or inconsistently formed contracts in less than 90 seconds – the time it takes for a tagged email to reach your inbox.

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by other departments like sales or finance by bringing in legal for simple contract concerns, especially for lowrisk contracts like NDAs. According to our internal study, this reduces contract approval times by up to 70% and increases productivity by 51%.

INVOICE REVIEW USING AI IMPROVES BILLING ACCURACY “Developing, implementing, and maintaining legal billing guidelines is one of the most effective ways to appropriately manage outside counsel," according to Attorney at Law Magazine. Normally, enforcing billing criteria and lowering costs necessitates manually checking a large number of line items per invoice to minimize concerns such as overbilling.

AI-enabled invoice review is a helpful tool that saves time and money since it uses machine learning and natural language processing

to assure accuracy.

Invoice review software with AI checks invoice line items at a much faster rate than you could manually, confirming and enforcing billing criteria.

The following is how it works: Ÿ You define standards for your invoices, such as permissible invoice formats, personnel your suppliers are permitted to utilize for various sorts of legal work, and invoice submission deadlines, among other things. Ÿ After that, you train your AI review software to seek for bills that don't match those guidelines, just like you did when you first flagged them. Ÿ After initial training, your AI "smart assistant" reviews the majority of your invoices, with you sometimes stepping in to make sure they're on track, until they've been trained to your satisfaction.

SUPERVISED MACHINE LEARNING SPEEDS UP DOCUMENT CREATION. Supervised machine learning is a branch of artificial intelligence that learns from human examples. The supervised machine learning algorithm creates rules based on a human supervisor's inputs and results (also known as training data). There are various uses for supervised machine learning in law, but for legal operations, it allows you to prepare documents using AI-assisted templates rather than manually constructing them.

You can train an AI algorithm to look for specific features, such as practice areas, and have essential fields automatically filled.

For example, you can preconfigure an AI document production tool to get data from your spend management solution, such as dates worked and total cost, to produce new concerns, using your manual actions. The AIgenerated template will then

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Sixty-nine percent of chief legal officers predicted that the usage of artificial intelligence in legal departments would grow in 2020.

It is not, however, intended to take the place of humans. Instead, AI handles the mundane administrative operations, allowing you to focus on higher-value jobs fill in 10 (maybe more) essential fields automatically, saving you time.

processing refers to the AI's ability to process each word of each piece of text line by line.

AI-ASSISTED RESEARCH REDUCES THE AMOUNT OF TIME SPENT CONDUCTING LEGAL RESEARCH.

This means that your legal operations team will have access to millions of data points that have been parsed, analyzed, and grouped according to relevant criteria. With the touch of a few buttons, you'll be able to observe how long different matter kinds last, allowing you to estimate matter-related expenses and identify costsaving potential. AI-assisted

Bloomberg stated in 2017 that software finished tasks that would ordinarily take lawyers 360,000 hours in seconds. Similarly, according to a New York Times investigation, AIpowered software located a case pertinent to a topic that attorney was working on in seconds, whereas it took the attorney 10 hours to find it manually.

research is made easier using tools like LexisNexis.

In the legal field, artificial intelligence (AI) makes human job easier.

Sixty-nine percent of chief legal officers predicted that the usage of artificial intelligence in legal departments would grow in 2020. It is not, however, intended to take the place of humans. Instead, AI handles the mundane administrative operations, allowing you to focus on higher-value jobs.

Indeed, according to a

Deloitte research, automation has resulted in an "overall increase of around 80,000 [jobs], the vast majority of which are higher qualified and better compensated." It's not a stretch to predict that AI would follow in the footsteps of automation and give better-paying employment for strategic capabilities.

These examples show the potential of AI-assisted research. In a fraction of the time it would take to manually scan through every line of each document, AI-assisted research lets you to evaluate papers and extract the information you need.

But it's not just about saving time. AI-assisted research tools improve precision and accuracy by catching information that you might otherwise overlook or skim through. Natural language

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BOLD STEPS:

OLANIWUN AJAYI OPENS LONDON OFFICE