98, Awolowo Road
South-West Ikoyi, Lagos, Nigeria
Plot 2669, Aguiyi-Ironsi Street
Maitama, Abuja, Nigeria
Telephone: +234 (1) 4615203-4, 4630853-4, 2702657
Femi Olubanwo, Asue Ighodalo, Kenneth Etim (Managing Partner), Abimbola Akeredolu, Ayotunde Owoigbe and Stella Duru
Number of fee earners: 40
Consistently rated as a first-tier Nigerian corporate law firm, Banwo & Ighodalo (B&I) was established on 1 February 1991 with a resolve to create a world-class law firm. Our firm is made up of brilliant, incisive and experienced lawyers who work together to provide a broad range of services to clients. In our markets, we are known for providing innovative, competent, and well-timed solutions.
B&I currently has five main practice areas: corporate, securities and finance; (comprising project finance, telecommunications, privatisation, foreign investment and divestment, taxation, corporate finance, capital markets, mergers and acquisitions and corporate restructuring); energy and natural resources; litigation, arbitration and ADR; intellectual property and information technology; and shipping, aviation and international trade.
B&I’s M&A practice continues to be the leading M&A practice in Nigeria. The firm advised First City Monument Bank Plc on its acquisition of, and subsequent merger with, Finbank Plc. The deal was birthed from the Central Bank of Nigeria’s directive requiring the recapitalisation of identified Nigerian banks that were on the verge of “failing”. The deal won the 2013 Business Day Banking Award for Deal of the Year, in recognition of the seamless manner in which the deal was consummated.
The firm remains without question the number-one capital markets law firm in Nigeria. Among other notable deals, the firm advised the federal government of Nigeria in connection with its US$1 billion sophomore Eurobond transaction consisting of US$500 million notes (due 2018) and US$500 million notes (due 2023).
More recently, the firm advised a consortium of banks (comprised of Skye Bank Plc, United Bank of Africa Plc, Diamond Bank Plc, First City Monument Bank Plc and Heritage Bank Limited) in connection with a US$270 million debt financing to Integrated Energy Distribution and Marketing Limited, the preferred bidder for Ibadan Electricity Distribution Plc and the Yola Electricity Distribution Plc.
The team is also advising the Lagos state government in connection with the development of the Lekki-Epe International Airport in Lagos State. The project is being progressed as a public private partnership, and involves the private sector being invited to tender for such aspects of the design, build, operate and transfer of the project as may be considered appropriate.
The firm also advised a syndicate of 13 Nigerian banks in connection with the refinancing of a two-tranche loan facility of approximately USD$1.2 billion advanced to Emerging Markets Telecommunications Services Limited. The original financing transaction of approximately USD$650 million, in which we also advised as lenders’ counsel, won the Euromoney African Telecoms Deal of the Year 2011.
We advised GlaxoSmithKline Consumer Nigeria Plc in connection with a scheme of arrangement and capital reorganisation involving the increase by GlaxoSmithKline Plc (UK) of its equity holding in the company to 75 per cent and the rationalisation of the capital of the company.
The intellectual property and technology group works with clients to attain effective protection for their brands, intangible assets, concepts and business operating plans. We provide well-thought-through, practical and commercially sensible legal solutions to clients with respect to their intellectual property and technology acquisition needs.
Our expertise also includes product registration and regulatory compliance, ie, the National Agency for Food and Drug Administration and Control, the National Office for Technology Acquisition and Promotion, the Standard Organisation of Nigeria and the Advertising Practitioners Council of Nigeria.
English, French and several Nigerian languages.
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