A foreign company, however, cannot do business in Nigeria directly. It must incorporate a local company in Nigeria. There are certain exemptions though under the Companies and Allied Matters Act of 2004 (CAMA). These exemptions include where the foreign company is invited to Nigeria by the federal government to execute any specified individual or loan project, or as an engineering expert engaged on an individual specialist project. The new company must then be registered with the Nigeria Investment Promotion Commission (NIPC), before it commences operations. Where applicable, sector-specific licences, like for petroleum and telecommunications should be applied for. A foreign-owned vessel for instance, cannot engage in business in Nigeria's inland waters without prior consent of the minister for transport. The Nigeria Investment Promotion Commission's prevailing practice is to decline to register businesses in which foreigners do not invest at least US$300,000.

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Foreign employees and immigration requirements

If the company intends to employ foreigners for its operations in Nigeria, the company must comply with immigration requirements under applicable law. Every foreign employee from outside the West African economic community requires a visa. Companies that employ more than one expatriate will need an expatriate quota. In either case, evidence that a Nigerian cannot readily be found to do the work in question needs to be shown. The new oil and gas local content legislation requires companies operating in that industry to give first consideration to Nigerians for employment in any project to be executed by a company in the sector. In addition, oil and gas companies must apply to the local content regulator, prior to applying for an expatriate quota. Further, expatriates may hold no more than 5% of the management positions of an oil and gas company.

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Government approval for finance

If the company intends to import capital, it will also require a Certificate of Capital Importation (CCI). If a transfer of technology is involved, the company has to obtain the approval of the National Office for Technology Acquisition and Promotion (NOTAP) for remittances of fees payable under the contract. The income taxes, capital gains taxes and value-added tax (VAT) chargeable on Nigerian-controlled companies are also chargeable on foreign-controlled companies.

There are a number of fiscal incentives for foreign investors. Some of these include, relief against double taxation, a waiver of income tax on loan interest for loans with a moratorium of at least two years and the rule that withholding tax is the final tax on investment income for non-resident foreigners. Companies with at least 25% imported equity capital are exempt from the minimum tax requirement. Generally, the taxes and other levies that apply to local investors and companies also apply to foreign investors: income taxes (corporate and personal), capital gains tax, VAT and stamp duties.

Nigeria has bilateral investment treaties with Algeria, Bulgaria, China, Egypt, Finland, France, Germany, Jamaica, Korea, Democratic People's Republic of Korea, Italy, Montenegro, the Nether- lands, Romania, Serbia, South Africa, Spain, Sweden, Switzerland, Taiwan, Turkey, Uganda and the United Kingdom. Nigeria also has double tax agreements with the United Kingdom, the Netherlands, Canada, Belgium, Romania, France, Pakistan, South Africa and the Philippines. Nigeria is also a signatory to the International Centre for Settlement of Investment Disputes (ICSID) Convention. The guarantees against expropriation that are set out in these treaties do not appear to add significantly to those granted in the 1999 Constitution of Nigeria.

Apart from money laundering restrictions (no more than US$5,000 in cash) and disclosure requirements, both Nigerians and foreigners are free to bring foreign currency into Nigeria. Both foreigners and Nigerians can buy or sell foreign currency only from or to companies licensed by the Central Bank of Nigeria (CBN) to deal in foreign currency.

Investors are free to bring foreign currency into Nigeria, subject to applicable money-laundering regulations. As to controls, remittances can be made only if one has either a CBN special authorisation to remit money or a routine Certificate of Capital Importation (CCI) issued by a Nigerian bank when the capital in question first entered Nigeria. There are no fees or taxes payable on remitting money from Nigeria other than usual commercial bank service charges.

Since 1995, both foreigners and Nigerians have been free to bring in capital in cash or in kind and to repatriate in foreign currency (to be purchased from CBN-regulated markets) capital and income proceeds on such capital, as long as a Nigerian bank issues a CCI when the capital first entered Nigeria. Usual commercial bank service charges apply to issuances of CCIs. CCIs cost less than US$5. The NOTAP application fee is fixed from time to time by NOTAP. The current fee payable is dependent on the value of the contract to be registered, but the minimum is US$667.

Non-resident investors are required to register their investments with the NIPC for statistical purposes. Any technology transfer contracts, for example, intellectual property licences and technical support contracts must be registered with NOTAP. All project and finance documents must also be stamped. Those documents that need to be filed with or approved, or both, by regulators under sector-specific statutes (for example, a document assigning an interest in petroleum acreage or a mortgage of a telecommunications licence) will need to get approved as the sector-specific provisions warrant. In addition, documents that create security over assets will need to be registered.

Project finance transactions almost always involve the importation of project equipment. Import duty may be payable at rates that vary from goods to goods. If the equipment is imported to form part of the equity in the Nigerian business, a CCI will be needed for it if future proceeds on it are to be repatriated. If the equipment requires registration in Nigeria, it will have to be so registered.

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Financing and security

Nigeria is a common law country with many of the usual features that one would expect to see in such a country. For high-budget project financing, debt financing is always an option. All property, including bank balances, future property and intangible property like licence rights can be used as collateral. However, securing the debt can be a challenge for a newly-incorporated company. The type of collateral asset and the type of borrower (company, government or individual) determines the appropriate perfection regime for security.

When a mortgage is created over immovable property, the security document must be perfected at the government lands registry where the property is situated, if the security interest is to bind future bona fide purchasers of the land. Perfection of security over land is a threefold process: stamping; obtaining the consent of the governor of the state where the land is situated and; registration at the government lands registry.

Companies must register most charges created over their assets at the Corporate Affairs Commission in Abuja (CAC) within 90 days of the creation of such charge. Charges attract ad valorem stamp duty and registration charges. Where such a charge is registrable but unregistered, it will not be effective against the company's other creditors in the event of the company's insolvency. Where a charge is created over land belonging to a company, in addition to perfection at the relevant lands registry, the charge must also be registered at the CAC.

Not all security interests are registrable. For example, charges and mortgages over receivables (including book debts), goods and land are registrable while pledges of goods created by the delivery of possession and charges or mortgages over shares are not registrable. There are some other asset-specific registration regimes. For instance, a mortgage over a ship must be registered with the Registrar of Ships and a mortgage over trademarks must be registered with the trademarks registry. There are bills of sale registers for mortgages of goods in some states.

Priority is determined by factors like the asset type, the type of interest created (legal or equitable), the time of creation of the interest and time of registration of interest. Priority depends primarily on the time of creation, with older security interests ranking ahead of more recent ones. Where registration is required, priority depends primarily on the time of registration: the first security interest to be registered will have priority, except that competing security interests created by companies and registered within 90 days of creation will have priority according to their actual dates of creation.

There are two noteworthy exceptional rules: a floating charge will rank after a fixed charge created prior to the crystallisation of the floating charge and; a purchase money security interest will have priority over other charges on the same asset.

Ways of minimising perfection tax include structuring the security as security over an asset that attracts less tax, for example, having a security over a company that holds land rather than over the land itself, or perfecting the security for only a part of the sum advanced. This second option has become popular. A corporate trustee, but not a mere agent, may hold collateral on behalf of the project lenders as the secured party. In the event of the bankruptcy of the trustee, the collateral will not form part of the assets of the trustee.

Usually, prior to investing in a project, a lender assures itself of the absence of any interest in the secured assets that will rank prior to the interest of the lender. A legal due diligence inquiry can be conducted on the borrower. Depending on the type of borrower and the collateral, a search may have to be conducted at both the lands registry, CAC and other relevant registries. It is also advisable to procure that the borrower makes a representation and warrants in the financing documentation to the effect that there are no existing liens or encumbrances on its assets.

However, a lender cannot completely eliminate the risk that there may be prior security interests, because there are security interests that are not required by law to be registered like charges over shares and pledges of goods, and prior registered interests may not be disclosed in the course of a search, owing to administrative lapses at the relevant registry.

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Enforcement of collateral

Project lenders' main enforcement methods outside bankruptcy proceedings are to exercise their step-in rights under a direct agreement, sale, take possession, appoint a receiver and foreclosure. Self-help, as such, is not allowed.

To enforce a mortgage, a lender must have served a notice requiring payment of the sum due. In practice, the document creating the mortgage contains provisions stating the period of time that must lapse before the power of sale would become exercisable. Where the security documents contain a power of sale, the lender can exercise the power of sale without recourse to court. A court order is required where there is no power of sale in the registered security documents.

A sale may be by private treaty, by auction or by tender. Project lenders may participate as buyers in a sale as long as the sale is conducted at arm's-length and in good faith. A sale by secured creditors may be made in foreign currency.

A bankruptcy proceeding in respect of the project company also affects the ability of a project lender to enforce its rights as a secured party over the collateral. A lender's security interests in the collateral will survive the borrower's bankruptcy, where those interests are fully perfected against the borrower's creditors, especially by registration at the CAC, in the case of a company borrower.

The claims of foreign creditors rank pari passu with the claims of local creditors. In bankruptcy proceedings, preferential creditors' rights for tax debts, employees' wages or claims and deductions have priority over the claims of floating charge holders in so far as assets of the company available for payment of general creditors are insufficient to meet them.

If a company concludes a transaction and a winding-up order is made in respect of such company within three months from the conclusion of the transaction, the transaction, if challenged by the insolvent company's liquidator, may be regarded as invalid and reversed.

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Accounts and repatriation of proceeds

Project companies may open and operate foreign currency accounts with both Nigerian banks and foreign banks. However, a project company exporting goods must open and maintain a foreign currency domiciliary account with a Nigerian bank. Export proceeds must be paid into such an account within 90 days from the date of shipment of the goods. Thereafter, the proceeds may be freely repatriated. There is no requirement that the foreign currency in such accounts must be converted to local currency.

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Government authorities and regulatory agencies

The leading federal government agencies with authority over projects in the typical project finance sectors are as follows:

• Oil and gas: Ministry of Petroleum Resources, Department of Petroleum Resources and the Nigeria Sao-Tome Joint Development Authority Zone

• Power generation and transmission: The Ministry of Energy and the Nigerian Electricity Regulatory Commission

• Maritime: Ministry of Transport, Nigeria Maritime Administration and Safety Agency, Nigerian Ports Authority and Nigerian Inland Waterways Authority

• Rail: Ministry of Transport and Nigeria Railway Corporation

• Road: Ministry of Works and the Federal Road Management Agency

• Telecommunications: Ministry of Information, Ministry of Communications and the Nigerian Communications Commission

• Airports: Ministry of Aviation and Nigerian Civil Aviation Authority

• Water resources: Ministry of Water Resources

The agencies have rule-making, decision-making and enforcement powers in the relevant sectors and industries. They have the power to issue and revoke licences and licences cannot be assigned without their consent. Their supervising ministers make policy and do not do regulatory work on a day-to-day basis. However, the Ministry of Water Resources is itself the water regulator.

The Federal Infrastructure Regulatory Commission has the power to take custody of concession agreements in all sectors and ensure compliance with the provisions of the act that establishes it. Until quite recently, the ownership in these sectors was entirely held by the state. In recent times, many government-owned enterprises have become privatised and commercialised with concessions being granted to the private sector, particularly in the transport sector. Water is still almost entirely owned by the state.

There are some state-level agencies. For example, the Lagos State Roads, Bridges and Highways Infrastructure Board is the best-developed transport regulator in the country, but it has no power outside Lagos State.

The preceding paragraphs briefly outline the key considerations that should be of interest to foreigners who intend to invest in Nigeria. Besides the incorporation of the company locally, certain sector-specific registrations, usually with the government regulatory agency, depending on the sector in which the company intends to operate, may need to be undertaken. Finally, it is advisable to seek professional
legal advice in all cases as the peculiarity or structure of a transaction may make certain requirements mandatory and others optional.

Author biographies

Fred Onuobia

Managing partner

Fred is the managing partner of G Elias & Co, a leading law firm in Nigeria. He has over 20 years of experience in corporate and financial work for both private and public sector clients.

Some of his experience in project finance includes advising on the syndicated financing of expansion and rehabilitation works on the Lekki Toll Road concession (Nigeria's pioneering toll road concession), the concession agreement for a monorail at Tinapa (as lawyers to the financiers) and the syndicate of lenders on the Lagos airport terminal development (Nigeria's pioneering airport terminal concession). Fred Onuobia acted as lenders' advisor.

He holds a Master of Laws degree from University College London.

Olajumoke Arowolo

Associate

Olajumoke holds a Master of Laws degree from the University of Durham, England. She has considerable experience in project finance work. She was actively involved in the legal review of financing documentation in several of our project finance transactions. Recently, she advised on a lending for the operation and maintenance of several oil mining leases in Nigeria. She is now working on another lending, advising on financing for the acquisition of an oil and gas acreage.

Oluwatoyin Odewole

Associate

Oluwatoyin is an experienced member of the firm's project finance and corporate commercial team. She holds a Master of Laws degree from the University College London. She is experienced in corporate finance and oil and gas transactions and has advised on a number of the firm's oil and gas sector transactions. These include the US$850 million financing by a leading bank in the UK and the US$158 million financing by a leading Nigerian bank to two different oil and gas companies in Nigeria for the acquisition of certain oil and gas acreages.

在尼日利亚开展投资

Fred Onuobia、Olajumoke Arowolo 和 Oluwatoyin Odewole

G Elias & Co

尼日利亚随着几个经济领域的扩张，在市场上得到了更多的外国投资者。投资者热切参与和获取利润，但是他们也知道可靠的法律意见对交易成功的重要性。有一些关键事项是任何外国投资者在尼日利亚投资时应当考虑到的。

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设立企业

外国人可以全资拥有和投资参股尼日利亚公司，除非企业涉及禁止清单上的项目，例如武器弹药、毒品和精神科药物、军事、准军事、公安、海关、出入境机关和监狱服务的制服及装备的生产。

但是，外国公司不能够直接在尼日利亚经营业务。它必须在尼日利亚注册一个本地公司。不过，2004年《公司和相关事务法》（CAMA）下有若干豁免。这些豁免包括被联邦政府邀请到尼日利亚执行任何特定项目或贷款项目的外国公司，或作为工程专家受聘进行特殊项目的外国公司。新设公司必须在向尼日利亚投资促进委员会（NIPC）登记之后才可开业。若适用有关法规，例如石油和电信行业等，应当申请行业性许可。外国人拥有的船只未经交通部长事先同意不能在尼日利亚国内水路营运业务。尼日利亚投资促进委员会通常会拒绝登记外国人投资额不足30万美元的企业。

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外国员工和出入境规定

如果公司打算雇用外国人在尼日利亚经营其业务，必须遵守适用法律下的出入境规定。来自西非经济共同体以外的每个外国员工都必须办理签证。雇用超过一名以上外国员工的公司需要取得外国员工配额。无论是哪种情况，都须证明无法容易找到尼日利亚人从事有关的工作。新颁布的石油天然气行业本地就业法律规定，从事该行业的公司在其项目中应优先考虑雇用尼日利亚人。此外，石油天然气公司在申请外国员工配额之前必须向本地就业监管机构提出申请。还有，在石油天然气公司中，外国员工不可占有超过5%的管理层职位。

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财政方面的政府审批

如果公司要输入资本，还需要办理资本输入证书（CCI）。如果涉及技术转让，公司须为合同下应付费用的汇款取得国家技术购进和促进办公厅（NOTAP）的批准。对尼日利亚控股公司征收的所得税、资本收益税及增值税（VAT）也同时向外国控股公司征收。

外国投资者可享受一些财政奖励措施，其中包括豁免双重征税，延期偿还至少两年的贷款的利息免征所得税，非居民外国人投资所得的扣缴税作为最终税。输入股本达到25%的公司豁免适用最低征税规定。一般而言，适用于本地投资者和公司的税项和其他征缴项目也适用于外国投资者：所得税（企业和个人）、资本收益税、增值税和印花税。

尼日利亚与下述国家缔结了双边投资协议：阿尔及利亚、保加利亚、中国、埃及、芬兰、法国、德国、牙买加、韩国、朝鲜民主主义共和国、意大利、黑山共和国、荷兰、罗马尼亚、塞尔维亚、南非、西班牙、瑞典、瑞士、台湾、土耳其、乌干达和英国。尼日利亚还与下述国家签订了双重税务协议：英国、荷兰、加拿大、比利时、罗马尼亚、法国、巴基斯坦、南非和菲律宾。尼日利亚也是国际投资争端解决中心公约的签字国。这些条约中规定的不征收财产保证看来并没有显著加强了1999年尼日利亚宪法对此所给予的保证。

除了反洗钱限制（不超过5千美元现金）和披露规定以外，尼日利亚人和外国人都可自由携带外汇入境。外国人和尼日利亚人都只能与尼日利亚中央银行（CBN）许可的公司买卖外币。

投资者在遵守适用的反洗钱条例的前提下可自由携带外汇进入尼日利亚。至于管制方面，向外汇款必须得到CBN的特别汇款许可或者有关资金首次进入尼日利亚时由尼日利亚的银行例行开具的资本输入证书（CCI）。从尼日利亚向境外汇款，除了例行的商业银行服务收费以外，无须支付其他税费。

自1995年以来，外国人和尼日利亚人都可自由地以现金或实物方式汇入和汇出外币（但须在CBN监管的市场购买）资本及这些资本产生的收入，只要资本首次入境时有尼日利亚的银行开具的CCI。开具CCI须收取商业银行的例行服务收费，收费不到5美元。NOTAP的申请费由NOTAP不时确定。目前的收费取决于所登记合同的价值，最低收费为667美元。

非居民投资者必须向NIPC登记其投资，以便统计。任何技术转让合同，例如知识产权许可证和技术支持合同，都必须向NOTAP登记。所有项目和融资文件都必须贴印花税。根据有关行业法规需要由监管机构备案或审批或两者都需要的文件（例如转让油田权益或抵押电信许可的文件），则须按照有关行业的规定办理批准。此外，以资产设立担保的文件需要登记。

项目融资交易几乎总是涉及项目设备的进口。不同物品可能要缴纳不同税率的进口税。如果进口的设备构成在尼企业的部分股权，将来汇出其所得时需要有CCI。如果设备需要在尼日利亚登记，则必须办理。

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融资和担保

尼日利亚是普通法国家，具有普通法国家通常具有的很多特征。对于预算巨大的项目融资，债务融资总是一个可选办法。所有财产，包括银行余额、未来资产以及许可证权利这类无形资产，都可作为抵押物。然而，对新设的公司来说，为资产提供担保可以是烦恼的事情。抵押资产的种类和借款人的类型（公司、政府或个人）决定了如何进行适当的担保确立手续。

以不动产设定抵押时，担保文件必须在资产所在地的政府土地登记处办理确立手续，担保权益才可约束未来的土地善意购买者。土地担保的确立手续有三个程序：办理印花；取得土地所在地州长的同意；在政府土地登记处登记。

公司在资产上设定的抵押大多数都必须在设定抵押后90日内向阿布贾的公司事务委员会（CAC）登记。抵押须缴纳从价印花税和登记费。如果抵押应当登记而没有登记，公司破产时该抵押对公司的其他债权人便没有效力。以属于公司的土地设定抵押的，除了要向有关的土地登记处办理确立手续以外，该抵押还必须在CAC登记。

并非所有担保权益都必须登记。例如，在应收账（包括账面债项）、货物和土地上设定的抵押必须登记，而通过交出占有权设立的货物质押及以股票设立的抵押则不需要登记。此外还有一些根据资产而定的登记制度。例如，船舶抵押必须在船舶登记处登记，商标抵押则必须在商标登记处登记。在某些州还有办理货物抵押登记的卖据登记处。

优先权取决于资产的种类、所设权益的种类（普通法的或衡平法的）、设立权益的时间及登记权益的时间等因素。优先权主要取决于设立权益的时间，先设立的担保权益排序优先于后设立的担保权益。担保需要登记的，优先权主要取决于登记时间：最先登记的担保权益将有优先权，不过，不同公司设立的相互对抗的担保权益如果都在90日内登记，则根据实际设立日期确定优先权。

有两个例外规定值得注意：在浮动抵押封押之前设立的固定抵押排序优先于该浮动抵押；购买价金担保权排序优先于同一资产上的其他抵押。

减少确立手续的税项有多种办法，包括以税负较少的资产设立担保，例如以拥有土地的公司设立担保，而不是以土地本身设立担保，或者只为部分贷款的担保办理确立手续。第二种办法现在很流行。公司受托人而不是普通的代理人可代表项目贷款人作为担保权人持有抵押物。如果受托人破产，抵押物不会构成受托人资产的一部分。

向项目投资以前，贷款人一般要确定抵押担保资产上不存在优先于其担保权益的任何权益。贷款人可以对借款人进行法律尽职调查。根据借款人和抵押物的种类，可以在土地登记处、CAC及其他有关的登记机关进行查询。建议也同时要求借款人在融资文件上作出陈述和保证，声明其资产上不存在权益留置或负担。

然而，贷款人无法完全消除存在原有担保权益的风险，因为有些担保权益不是法律规定必须登记的，例如股份抵押和货物质押，而且，先前登记的权益可能会因为有关登记机关的行政错漏而没有在查询过程中被披露。

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抵押的执行

项目贷款人在破产程序以外的主要执行办法是根据直接协议行使介入权、售卖、占有、任命接管人和取消赎回权。自救是不允许的。

要执行抵押，贷款人必须送达要求支付欠款的通知。在实践上，设立抵押的文件规定了需要过多长时间才可行使售卖权。如果担保文件载明了售卖权，贷款人无须诉诸法庭就可行使售卖权。如果已登记的担保文件里没有售卖权规定，就需要取得法庭命令。

售卖可采取非公开约定、拍卖或投标方式。项目贷款人可作为买方参与售卖，只要售卖是以公平诚信方式进行的。受担保债权人进行的售卖可用外币进行。

针对项目公司的破产程序也影响项目贷款人作为担保权人对抵押物执行其权利的能力。贷款人在抵押物中的担保权益在借款人破产之后仍然有效，只要那些权益办理了充分的确立手续，特别是如果已向CAC登记（如果借款人是一家公司），就可对抗借款人的债权人。

外国债权人的债权与本地债权人的债权具有平等地位。在破产程序中，如果公司可用来支付一般债权人的资产不足以满足其债权，优先债权人的税债权益、员工工资或索偿和扣缴优先于浮动抵押权持有人的债权。

如果公司完成一项交易之后三个月内被发出清盘命令，只要破产公司的清算人提出异议，该交易可被视为无效作废。

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账户和收入的汇出

项目公司可在尼日利亚的本地和外国银行开立和使用外币账户。但是，出口产品的项目公司必须在尼日利亚的银行开立和维持一个外币本地账户。出口收入必须在发货之日起90日内支付到该账户。然后，收入可自由汇出。没有规定要求该账户内的外币必须兑换为本地货币。

政府主管部门和监管机构

以下是通常需要项目融资的行业里对项目有主管权的主要联邦政府机构：

• 石油天然气：石油资源部，石油资源司和尼日利亚-圣多美联合开发区

• 发电和输电：能源部和尼日利亚电力监管委员会

• 海事：交通部、尼日利亚海事管理和安全局、尼日利亚港务局和尼日利亚国内水路管理局

• 铁道：交通部和尼日利亚铁道公司

• 公路：工程部和联邦公路管理局

• 电信：信息部、通信部和尼日利亚通信委员会

• 机场：航空部和尼日利亚民航管理局

• 水资源：水资源部

各个机构在有关领域和行业有制定条例、决策和强制执行的权力。它们有权颁发和取消许可证，而未经过它们的批准不得转让许可证。它们的主管部长制定政策，但不处理日常监管工作。不过，水资源部本身也是水资源的监管机构。

联邦基础设施监管委员会有权保管所有行业里的特许经营协议，确保协议符合该协议所依据的法律规定。直到不久前，这些行业的所有权还是完全国有。最近，很多政府拥有的企业，特别是交通行业，都已私有化和商业化，经营权被转到私营领域。水资源行业仍然几乎完全国有。

有些机构是州级的。例如，拉各斯州道路、桥樑和公路基础设施委员会是尼日利亚最成熟的交通监管机构，但在拉各斯州以外则没有权力。

以上仅简要列出了凡是有意在尼日利亚投资的外国人都应当感兴趣的关键考虑事项。除了在本地注册公司，根据公司经营所在行业，可能还需要办理行业相关的登记，这种登记一般是向政府监管机构办理。最后，一项交易可能因其特殊之处或其结构而使某些要求成为强制性的而另一些要求成为非强制的，所以，在一切情况下最好还是寻求专业的法律意见。

作者简历

FRED ONUOBIA

管理合伙人

Fred是尼日利亚行内卓越的律师事务所G Elias & Co的管理合伙人。他为公私领域各类客户承办公司和融资法律事务已超过20年，经验极为丰富。

Fred的部分经验是作为贷款人的法律顾问就项目融资提供法律意见，这类项目包括Lekki特许经营收费公路修复扩建工程（尼日利亚首个特许经营收费公路项目）的银团融资、Tinapa单轨铁路的特许经营协议（作为融资方的律师）和拉各斯机场航站开发项目（尼日利亚首个机场航站特许经营项目）的贷款银团。

他拥有伦敦大学学院的法学硕士学位。

OLAJUMOKE AROWOLO

律师

Olajumoke 拥有英格兰杜伦大学的法学硕士学位。她在项目融资方面相当有经验。她积极参与了本所多个项目融资交易中的融资文件法律审阅工作。最近，她就尼日利亚几个石油矿区租约运营维护项目的贷款提供法律意见。她目前正在另一宗贷款项目中就一个石油天然气矿区的收购提供融资方面的法律意见。

OLUWATOYIN ODEWOLE

律师

Oluwatoyin是本所项目融资和公司商法团队的一个富有经验的成员。她拥有伦敦大学学院的法学硕士学位。她对公司融资和石油天然气交易很有经验，曾经在本所多个石油天然气行业交易中提供法律意见，其中包括英国一家著名银行的8亿5千万美元融资项目，以及尼日利亚一家著名银行向两个不同的石油天然气公司提供1亿5千8百万美元融资收购数个石油天然气矿区的项目。