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Industry

Development Finance

Advice to Nigerian, foreign and multilateral development finance institutions on lending, equity investments, governance and disputes.

Overview

Development finance institutions fund projects and businesses that commercial lenders often cannot. We advise them and their borrowers and investee companies on the legal framework for that financing in Nigeria.

We advise on constitutional documents and governance, privileges and immunities, loans, guarantees and on-lending arrangements, equity and quasi-equity investments, and environmental and social conditions. We also advise on the regulatory position of development finance institutions licensed by the Central Bank.

We act in the enforcement of security and in disputes involving development finance institutions in arbitration and the courts.

What we do

  • Constitutional Documents and Organisational Structure

    Drafting and reviewing the constitutional documents and organisational structures of development finance institutions, in line with their mandates and Nigerian law.

  • Domestic Law Exemptions and Privileges

    We navigate complex regulatory landscapes to secure crucial domestic law exemptions and privileges, empowering development finance institutions to operate seamlessly and effectively.

  • Shareholder Matters

    From shareholder agreements to corporate governance, we provide strategic guidance on all shareholder matters, safeguarding the interests of development finance institutions and their stakeholders.

  • Debt Capital Raising

    Leveraging our extensive expertise in debt capital markets, we advise on innovative debt capital raising strategies, including bond issuances, syndicated loans, and structured finance transactions.

  • Employee Matters

    Our legal experts offer comprehensive support on employment-related issues, ensuring compliance, harmonious workplace environments, and effective dispute resolution mechanisms.

  • Lending and Hedging Transactions

    Structuring and negotiating loans, guarantees and hedging arrangements for development finance institutions and their borrowers.

  • Equity Investments

    From due diligence to exit strategies, we provide end-to-end legal support for equity investments, empowering development finance institutions to make informed investment decisions.

  • Arbitration and Litigation

    In times of dispute, our skilled litigators stand ready to represent development finance institutions in arbitration and litigation proceedings, advocating vigorously for their interests.

FAQs

Nigerian DFIs, such as the Bank of Industry and the Development Bank of Nigeria, are licensed and supervised by the Central Bank of Nigeria. Multilateral institutions are governed by their own constituent treaties.

Many do, under their founding treaties and Nigerian law. The scope of the immunity, and whether it has been waived for a particular transaction, should be checked case by case.

Most DFIs apply performance standards, such as the IFC Performance Standards, to every project they finance, and include them in the loan documents as conditions and covenants.
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