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Demutualization of securities exchanges has become a global trend with 55 Securities Exchanges in the world currently demutualized. The Stockholm Exchange was the first to undergo this transition in 1993, forging a path followed by many other exchanges including the London...

INTRODUCTION   The Department of Petroleum Resources (DPR) recently circulated “Guidelines and Procedures for Obtaining Minister’s Consent to the Assignment of Interest in Oil and Gas Assets” (Guidelines) to establish the procedure for obtaining consent of the Minister of...

As part of efforts to stimulate job creation, economic growth and productivity, the Central Bank of Nigeria (the CBN) recently established a N300 billion Real Sector Support Facility (the Facility). The Facility will provide access to loans of up to N 10 billion to...

1.      INTRODUCTION  In November 2014, in the midst of falling crude oil prices, the Central Bank of Nigeria (CBN) devalued the naira from N155 per US dollar to N168.[1] Since then the interbank rate at which banks trade has fluctuated between N188 to N206 per dollar.[2] In...

1.            Introduction For acquisitions in Nigeria, a key issue that resonates particularly in providing sufficient comfort to lenders in financing acquisitions is the concern of Financial Assistance. Nigerian law prohibits taking of security over the assets of a Target...

A.      Introduction One of the objectives of the electricity sector reform, which commenced in 2001, is to create efficient market structures, within clear regulatory frameworks, that encourage competitive markets for electricity generation and trading. In line with this...

BACKGROUND In most jurisdictions across the globe, the creation of security interests in moveable properties are nearly or just as common and acceptable as real property especially amongst individuals and small businesses given that such security interests are more accessible...

1.      INTRODUCTION   Strata title is a hybrid property ownership scheme that combines individual and communal interest in land and improvements thereon in a clearly severable manner. It takes the form of land and buildings subdivided into units/lots which are held...

Background   At the end of the Federal Government’s State Visit to Beijing, China in July 2013, while addressing the international media on the attractions of Nigeria as an investment haven, the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, described Nigeria...

BACKGROUND Sequel to the announcement of the Marginal Fields Licensing Round 2013 (“Licensing Round”) by the Minister of Petroleum Resources, the Department of Petroleum Resources (“DPR”) released the Guidelines for Farmout and Operation of Marginal Fields (“the Guidelines”),...

Introduction The Central Bank of Nigeria (CBN) on 10th December, 2013, announced the implementation of the Basel II and III recommendations of the Basel Committee on Banking Supervision (BCBS) with effect from January 2014. All commercial banks licensed by the CBN will be...

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