Financial Intermediation
We act as trusted independent and real-time advisors to financial institutions like banks as well as a variety of sophisticated and institutional investors, including investment banking firms, venture capital firms, accelerators and incubators, angel investors, endowments, pension funds and insurance firms. Our financial intermediation practice combines deep industry knowledge with comprehensive legal expertise, serving clients across Nigeria and Africa. We provide strategic counsel on Corporate & Private Banking, Fund Formation & Fund Operations, Legal Due Diligence, Mergers & Acquisitions, helping businesses navigate complex regulatory frameworks and achieve their commercial objectives.
Our team understands the unique challenges facing companies in this sector and delivers practical, business-focused solutions that protect client interests while facilitating growth and innovation. With extensive experience representing leading companies, financial institutions, and investors in financial intermediation matters, Balogun Harold has established itself as a trusted advisor in this sector. Our team's deep understanding of Nigerian law, combined with international best practices, enables us to deliver strategic counsel that helps clients maintain competitive advantage while ensuring regulatory compliance. We work closely with clients to develop comprehensive legal strategies that align with their business goals and support long-term success in Nigeria's dynamic market. Our financial intermediation practice combines deep industry knowledge with comprehensive legal expertise, serving clients across Nigeria and Africa. We provide strategic counsel on Corporate & Private Banking, Fund Formation & Fund Operations, Legal Due Diligence, Mergers & Acquisitions, Regulatory Guidance & Licenses, Leveraged & Acquisition Finance, helping businesses navigate complex regulatory frameworks and achieve their commercial objectives.
Our team understands the unique challenges facing companies in this sector and delivers practical, business-focused solutions that protect client interests while facilitating growth and innovation. We work with leading corporations, financial institutions, and investors to structure transactions, ensure regulatory compliance, and manage legal risks effectively. With extensive experience representing clients in financial intermediation matters, Balogun Harold has established itself as a trusted advisor in this sector. Our team's deep understanding of Nigerian law, combined with international best practices, enables us to deliver strategic counsel that helps clients maintain competitive advantage while ensuring regulatory compliance. We work closely with clients to develop comprehensive legal strategies that align with their business goals and support long-term success in Nigeria's dynamic market. Our approach emphasizes proactive risk management, regulatory compliance, and strategic planning, enabling clients to make informed decisions and achieve their business objectives.
We support our Clients with:
Notable Experience
Partial Risk Guaranteed Standby Letter of Credit
Advised a leading investment bank on a Partial Risk Guaranteed Standby Letter of Credit to be issued by the investment bank acting as L/C Issuing Bank under a USD$150 million Reimbursement and Credit Agreement;
Oil and Gas Asset Acquisition Financing
Advised an indigenous commercial bank in relation to a USD$ 200 Million financing to be provided in conjunction with an international financial institution for the acquisition of oil and gas assets;
Broadband Company Refinance Facility
Advised on the USD100million Refinance Facility to an indigenous broadband company to refinance and restructure its existing debt obligations of circa USD80million and fund the construction of a data center;
Diversified Business Group Debt Refinancing
Advised on US$ 60m debt refinancing of a diversified business group with interests in pharmaceutical, energy, industrial plastic packaging, importation and distribution of consumer goods as well as the agricultural sectors;
ECA-Backed Real Estate Development Financing
Advised on US$107 million ECA-backed financing for the construction and development of the first phase of a mixed use real estate development.
Insights & Updates
New Minimum Share Capital Requirements For Nigerian Banks: Some Legal Considerations for Bank Investors and Shareholders
New Minimum Share Capital : Policy & Regulatory Context The latest central banking policy decision facing commercial banks in Nigeria is a new poli...
New Minimum Share Capital Requirements for Nigerian Banks
As part of a new Banking Sector Recapitalization Program, Nigeria’s Central Bank has just announced an increase in the minimum share capital requirement of Nige...
Debt-for-Nature Swaps in Nigeria: Key Commercial Considerations
Especially for developing countries in Africa, debt-for-nature swaps are great tool for sovereigns to replace expensive debt and to put increasing sovereign deb...
FX Liquidity: Driving Growth through Non-Resident Accounts
In this update, we reflect on some learnings from recent corporate financing and fund formation transactions in sharing some insights around the need for Nigeria's central bank to review its rules around the operation of non-resident accounts.
Foreign Direct Investments in Nigeria - Policy Updates: 2024/25
Compared to other African countries, Nigeria has one of the most investment-friendly laws and continues to be an attractive destination for foreign direct inves...
Immunity of the Central Bank: Legal Issues Arising
The recent suspension and subsequent arrest of Nigeria’s central bank Governor and some Deputy Governors, as well as the appointment of an independent panel to ...
Doing Business in Nigeria Using Joint Venture Structures
Joint ventures have proven to be a highly resilient market-entry structure for conducting business in Nigeria. These strategic partnerships allow foreign busine...
Finance Act 2023: Key Updates to Nigeria's corporate tax regime
This legal update provides a high-level summary of the changes made by the Finance Act 2023 which became effective as of May 1, 2023. Businesses are advised to ...
A Highlight of the Key Protections for Private Asset Management Companies
The Bank and other Financial Institutions Act 2020 (the "BOFIA 2020") provides a number of protections for Private Asset Management Companies in Nigeria. In 2017, Nigeria's Central Bank ( the "Central Bank") proposed a legal framework for licensing Private Asset Management Companies ( the "PAMC Regulation").
Recent Changes to the Operation of Domiciliary Accounts in Nigeria
As part of efforts to unify the foreign exchange market in Nigeria, the Nigerian Central Bank recently announced changes to the operation of domiciliary accounts in Nigeria. This legal update summarizes the most recent changes to the operation of domiciliary accounts in Nigeria and provides a primer on the operation of domiciliary accounts in Nigeria.
Nigeria’s Central Bank Governor: Suspension & Immunity from Legal Actions - Matters Arising
A number of legal issues have been thrown up in the wake of the suspension of the Governor of Nigeria's Central Bank (the “Governor”) by Nigeria’s President and the subsequent arrest of the Governor by Nigeria’s State Security Services.
The Quincecare Duty of Care: Lessons for Nigerian Banks & Fintechs
The Quincecare duty is an implied legal duty of care placed on commercial banks, investment banks, fintechs[1] and other financial institutions (“Banks”) to refrain from executing a payment instruction where there are reasonable grounds for believing that, a payment instruction is given dishonestly or that such payment instruction is an attempt to misappropriate customer funds.