Nigeria: Financial Restructuring

Share Purchase Agreements (SPAs) serve as critical risk allocation tools in corporate transactions, governing the transfer of company shares between buyers and sellers. This article examines the key legal risks inherent in SPAs and explores the protective mechanisms—including representations and warranties, indemnities, conditions precedent, and escrow arrangements—that parties employ to safeguard their interests throughout the transaction lifecycle.

Following the announcement of fuel subsidy removal on 29th May 2023, during the President's inaugural speech, there has been increased hardship in Nigeria.