Nigeria: M&A/Private Equity

The Federal High Court's decision in WASPAN v. FCCPC addresses a critical question for businesses operating in regulated sectors: can the Federal Competition and Consumer Protection Commission enforce regulatory requirements on telecommunications operators already licensed by the Nigerian Communications Commission? This analysis examines the court's affirmation of concurrent regulatory jurisdiction and explores the practical implications for mergers, acquisitions, and investment transactions involving

MTN's acquisition of IHS towers marks a pivotal moment in Nigerian telecommunications infrastructure. This analysis examines the competitive implications of vertical integration in the telecom sector and explores what regulatory frameworks should govern fair competition when network operators control critical tower infrastructure. The piece evaluates how this consolidation affects market dynamics and the principles that should guide competition policy in Nigeria's evolving telecom landscape.

Warranty and Indemnity insurance is transforming M&A transactions globally, yet its adoption in Nigeria faces significant barriers. This analysis explores the practical challenges of implementing...

When Kinder Morgan grew from a $40 million asset purchase into North America's largest midstream energy company, the financial structure that fueled its success quietly became its greatest constraint.

Nigeria's tax landscape has undergone a fundamental shift with the enactment of the Nigeria Tax Act, 2025, which consolidates the country's core federal tax laws into a single unified framework. This reform introduces significant changes to how mergers and acquisitions are structured, priced, and executed, including the integration of capital gains into the income tax regime, revised exemptions for share disposals, and the introduction of taxation for indirect transfers.

In Lagos State, a foreigner can lawfully acquire an interest in land, but the transaction must be structured properly and comply with the applicable legal and regulatory rules.

The CBN in its March 28, 2024 circular announced an upward review of the minimum capital requirements for banks in Nigeria, mandating banks to raise their minimum paid-up capital by March 31, 2026 as follows...

On 16 January 2026, the Securities and Exchange Commission ("SEC") issued Circular No. 26-1 (the "Circular"), introducing a revised and tiered framework for minimum capital requirements applicable to fund and portfolio...

The Securities and Exchange Commission has issued Circular No. 26-1 dated 16th January 2026, revising the minimum capital requirements applicable to regulated capital market entities in Nigeria.