Soludo consolidating nigerian banking
This treatise seeks to look at the legal issues that may be confronted in Mergers and Acquisition, especially making the case for the Banking sector on the backdrop of the new guidelines from Central Bank of Nigeria (CBN) regarding the N25 Billion minimum capital for Banks in Nigeria. At face value, it is likely that only a few, if any, banks in Nigeria currently meet that requirement.
Acquisition on the other hand, is sometimes used in the financial community to mean a transaction in which a large corporation purchases a smaller corporation.
There are very few decided cases in this area of the Nigerian law.
In fact as noted by one pundit in an article recently in a Nigerian Newspaper, only two major Nigerian companies have merged since 1960.
The Associates of the firm are licensed to practice law in multiple jurisdictions including but not limited to Nigeria, California, the Fiji Islands and six other Jurisdictions in the United States.
The law firm also has close association with reputable firms in the United Kingdom and other Asian countries.