Wale is the managing partner at Babalakin & Co. He is a notary public for Nigeria and has been approved by the Nigerian Securities and Exchange Commission to carry on legal services in the Nigerian Capital Market. Previously, Wale was previously appointed chairman of the High Court of Lagos State (Civil Procedure) Rules review panel. He was also appointed as the committee chairman on judicial appointment and bench relations of the Nigerian Bar Association. Wale was the recipient of the Prince Bola Ajibola prize for Best Performance in Civil Procedure, the Chief TOS Benson prize for Overall Best Performance and the Sir Adetokunbo Ademola prize for Best Student of the Year at the Nigerian Law School. He was conferred with the rank of senior advocate of Nigeria in 2006.
Wale has represented one of the top IOCs in Nigeria in a 40 billion naira compensation claim and represented one of the oil and gas majors in a regulatory dispute with the Maritime Regulatory Authority through arbitration and alternative dispute resolution. Recently, he prepared and reviewed the transaction documents in respect of the development of a US$500 million fertiliser project. He is presently representing Nigeria’s National Oil Corporation in matters relating to several arbitral proceedings involving a total of over US$300 million.
Wale prepared a bond issuance and subscription agreement in a 55 billion naira (US$440 million) bond issuance transaction between a consortium of Nigerian banks and Transcorp (Nig) Plc. He acted as transaction counsel to the 18.75 billion naira (US$150 million) initial public offer for shares in respect of Dangote Flour Mills Company and as transaction counsel to the Murtala Mohammed International Airport Terminal 2 transaction on a build, operate, transfer basis involving about US$250 million. He has also advised on project financing agreements and documentations on behalf of major international financial institutions in relation to their lending activities in the Nigerian market.
He acted in the negotiations and preparation of a management and technical services agreement between an international hotel franchise and its local partners. He has prepared, reviewed and advised on various aircraft financing, maintenance and insurance agreements on behalf of a number of aviation companies both within and outside Nigeria. Currently, Wale is negotiating a management agreement for an upcoming four star airport hotel in Lagos, Nigeria. He is a member of various professional bodies.
WWL says: Olawale Adeola Akoni SAN is known for his “scrupulous and responsive approach” which is one of the reasons clients regard him as “a go-to lawyer”.
This biography is an extract from Who's Who Legal: Nigeria which can be purchased from our Shop.