Adebowale

[Adebowale @debo_ife]

@EKEDP Just tried recharging now but all to no avail. You people need to sort this rubbish ASAP

[Adebowale @debo_ife]

@AbuZeenah_ Wojciech Szczesny

[Adebowale @debo_ife]

@Ozzypapa @GossipMillNaija Una wan go world cup before ni

[Adebowale @debo_ife]

@FemiMoh Wetin be this

[TEMPLARS @templars_law]

In the October edition of TEMPLARS Transcripts, the Energy and Natural Resources Practice explores key developments across the Ghanaian and Nigerian energy sectors.

Stay informed on the latest trends and regulatory updates shaping these industries by reading the full publication here: https://t.co/yJjXpDii72.

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#OilAndGas
#RenewableEnergy
#AfricaNuclearEnergySummit
#EnergyAndNaturalResources
#NuclearCooperationAgreement
#ElectricityRegulatoryCommission

[TEMPLARS @templars_law]

In their insightful article, TEMPLARS Partner and Head, Investigations, White Collar and Compliance, Emmanuel Gbahabo, and Associate, Emediong Okodi, address the rising concerns over money laundering in Nigeria's cross-border transactions amid the country's placement on the Financial Action Task Force (FATF) Grey List.

The article underscores the critical need for strict adherence to anti- money laundering (AML) regulations to protect businesses from criminal activities.

It delves into Nigeria's key AML laws, including the Money Laundering (Prevention and Prohibition) Act 2022 and Central Bank of Nigeria (CBN) regulations, which impose stringent controls on cross-border transactions, correspondent banking, and dealings with politically exposed persons.

Additionally, the piece provides a comparative analysis of AML best practices from Ghana, the United Kingdom, and Brazil, showcasing how these countries have strengthened their AML frameworks to effectively manage risks.

Read the full publication for more: https://t.co/RJXTjpSb88

[TEMPLARS @templars_law]

As climate change policies like the Paris Agreement and African energy transition initiatives accelerate, disputes in the energy and natural resources sectors are rising. In response to this surge in climate change-related disputes in Africa, arbitration is increasingly viewed as the most effective resolution method due to its confidentiality, cross-border enforceability, and expert-led processes.

In this article, TEMPLARS Partner, Adewale Atake, SAN, and Senior Associate, Munachiso Michael, explain why arbitration’s flexibility is ideal for handling regulatory conflicts, financing challenges, and technological issues related to climate change. Their insights position arbitration as the leading choice for resolving complex disputes in Africa.

Learn more about arbitration's role in climate-related disputes in Africa. Read the full article here: https://t.co/JL53Oaw76V

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#ClimateChange
#Arbitration
#EnergyTransition
#NaturalResources
#DisputeResolution
#ParisAgreement

[TEMPLARS @templars_law]

A team from TEMPLARS comprising of Partner, Zelda Akindele, Senior Associate, Victor Sameria, and Associates, Pamela Ojiego and Joshua Chizoma, has contributed to the recently launched State of Enterprise (SOE) 2024 Report.

The report highlights the substantial growth of Nigeria's financial sector in 2023, with the banking sub-sector boosting GDP by 4.6% and assets surging by 56.14% to ₦121.8 trillion. It also details advancements in the insurance and capital markets, reflecting a thriving financial landscape.

The report, supported by data from key institutions, underscores Nigeria's potential for economic growth and illustrates the significant strides made towards the country becoming Africa's leading financial services hub.

EnterpriseNGR brings together organisations in the Financial & Professional Services sector to champion Nigeria’s transformation into the leading financial services centre in Africa. The professional advocacy group advances this agenda by actively collaborating with all its stakeholders, including operators, policymakers, and regulators.

Read the report here: https://t.co/Okoa5viXzO

[TEMPLARS @templars_law]

The Corporate Social Responsibility (CSR) Bill, 2023, introduces mandatory CSR requirements for Nigerian companies that meet specific financial thresholds. If passed, companies will need to establish a CSR committee, notify the Corporate Affairs Commission (CAC), and allocate 2-5% of their average net profits over three years to CSR initiatives. Non-compliance could result in fines or imprisonment.

The Bill may overlap with existing CSR obligations under the Petroleum Industry Act (PIA) 2021, raising concerns about double compliance. Lawmakers are encouraged to consider exemptions to prevent undue burdens on businesses. Companies should reassess their CSR strategies to prepare for these potential legal changes.

For more information, contact TEMPLARS Partner, Emmanuel Gbahabo, and Associate, Ifeoluwa Ibiyemi.

Read the full article: https://t.co/dMba8SNEQI

[TEMPLARS @templars_law]

This article, authored by TEMPLARS Partner, Emmanuel Gbahabo, Femi Oyewole, and Chijioke Ukomadu, explores the complexities of transnational construction projects in Nigeria. It addresses critical issues such as legal framework disparities, currency fluctuations, and unexpected events like pandemics, which frequently lead to disputes.

The publication offers conflict mitigation strategies, including the adoption of clear contracts, pre-agreed governing laws, and the use of mechanisms like the Arbitration and Mediation Act (AMA) and Dispute Resolution Boards (DBRs).

It also provides practical recommendations for tackling joint venture issues, currency risks, and permit delays, ensuring efficient project delivery and reduced legal conflicts.

Read the full publication: https://t.co/P3nLeWrMsb

[TEMPLARS @templars_law]

In this article, TEMPLARS Partner, Yemisi Awonuga, and Associate, Adebimpe Mosanya, discuss the Midstream Gas Flare Regulations issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

Gas flaring and venting have plagued the Nigerian gas market and the environment for eons due to (i) the dearth of regulations that disincentivise flaring, and (ii) the absence of a robust and implementable program for the monetisation of midstream flare gas. These harmful practices of flaring and venting continue to contribute to environmental degradation and waste of valuable energy resources.

Admirably, the Flare Regulations mark a significant advancement in regulatory oversight. They establish guidelines and limits for gas flaring and venting and introduce a comprehensive framework for improved monitoring, accountability, and enforcement. This regulatory intervention is a critical enabler for behavioral re-orientation through the adoption of sustainable practices aligning with Nigeria’s ambitious goal of achieving its net-zero emission target.

Read the full publication: https://t.co/f3uI7XiQRX

[TEMPLARS @templars_law]

In the September edition of the TEMPLARS Dispute Resolution Digest, the Dispute Resolution Practice group provide insights into the latest developments in dispute resolution across Nigeria and Ghana.

The Digest features a curated selection of recent landmark judgments, legislative updates, and pivotal developments in the sector.

Click here to read: https://t.co/swfqZZwwUc

[TEMPLARS @templars_law]

#FlashBackFriday: In the article published by https://t.co/92LaNTZC2u International on 2 September 2024 analyzing challenges to oil and gas Mergers & Acquisitions transactions across Africa, TEMPLARS Partner and co-Head of the Energy and Natural Resources Practice, Dayo Okusami, discussed the current complexities of oil and gas transactions in Nigeria under the Petroleum Industry Act (PIA).

He pointed out that the current round of divestments by International oil Companies are the first under the PIA stating "the PIA needed to be tested"; which has led to a more thorough due diligence process by the Regulators assessing, amongst other things, buyers' financial and technical capabilities.

Dayo also touched upon the challenges law firms face in agreeing to fixed fees due to unpredictable deal completion timelines. He noted renegotiation clauses or price reopeners are necessary due to the additional work (and time) required due to the evolving regulatory landscape.

Read the full article here: https://t.co/nOf9hV6P9q

[TEMPLARS @templars_law]

TEMPLARS has been ranked as a leading firm in the 2025 ITR (International Tax Review) World Tax Firm Rankings. TEMPLARS is ranked Tax Tier 1 for Tax Controversy and is also ranked for Tax and Transactional Tax.

Our partners received individual recognition: Dipo komolafe: Highly Regarded in General Corporate Tax and Transfer Pricing, Igonikon Adekunle: Highly Regarded in Tax Controversy, and Sesan Sulaiman: Notable Practitioner in Tax Controversy.

The ITR World Tax Rankings annually rank the top tax and transfer pricing firms and lawyers globally, covering over 140 jurisdictions.

[TEMPLARS @templars_law]

Green Bonds have become a key tool in Ghana's strategy to meet its Sustainable Development Goals (SDGs) and address climate change. In March 2024, the Securities and Exchange Commission (SEC) introduced guidelines for issuing Green Bonds, ensuring compliance with international standards. These bonds finance projects like renewable energy, pollution control, and biodiversity conservation.

This article authored by TEMPLARS Partner, Sarpong Odame, and Associate, Matilda Sarpong, highlights key regulatory requirements for Green Bond issuance in Ghana, including pre-issuance frameworks, project reviews, and strict post-issuance disclosure. By promoting transparency, the SEC guidelines aim to attract investors and strengthen Ghana’s green economy.

Read more to explore the Green Bonds regulatory framework and its impact on sustainable development in Ghana: https://t.co/VXm09Totmv.

[TEMPLARS @templars_law]

TEMPLARS has advised leading energy and commodity trading company, Mercuria Energy Group (“Mercuria”) on the structuring of a US$150 million dollar financing underwritten by Mercuria for Oando plc’s acquisition of Nigerian Agip Oil Company Limited from leading Italian energy company, Eni.

The Mercuria financing, together with a separate US$500 million reserve based facility arranged by the African Export-Import Bank, makes a combined US$650 million debt financing package utilised by Oando for the $783 million acquisition.

The transaction will triple Oando’s oil production from 20,000 to 60,000 barrels of oil equivalent per day and double its ownership interest in the NNPC/NAOC/Oando Joint Venture from 20 to 40 percent.

Mercuria’s participation in the combined financing demonstrates its continued “commitment to supporting key strategic initiatives in the global energy market.”

The TEMPLARS team that advised on the Transaction was led by Chike Obianwu (Deputy Managing Partner and Head of the Finance Practice Group) and Yemisi Awonuga (Partner and co-Head of the Energy and Natural Resources Practice Group). Chike and Yemisi were supported by Senior Associates Okabonye Chukwuani, Ifure Udofa and Damilola Oshodi as well as Associates Martins Eke Eziukwu, Mariam Adebayo and Omotayo Jimoh.

Commenting on the transaction, Chike Obianwu stated, “We are pleased to have advised Mercuria on this financing and to have played a critical role in assisting Oando in closing what is undoubtedly a transformative transaction for the group. Our role here once again demonstrates our market-leading position in the oil and gas sector in Nigeria and Ghana, and we are grateful as always for the confidence that our clients place in us to advise and assist on some of the most important and complex acquisitions and financings to have occurred in the sector over the last several years.”

[TEMPLARS @templars_law]

In the September edition of the TEMPLARS Transcripts, the TEMPLARS Energy and Natural Resources Practice provide a comprehensive overview of the most significant news in the Ghanaian and Nigerian energy sectors.

Read the full publication: https://t.co/du355G9zlx

[TEMPLARS @templars_law]

Join TEMPLARS Partner, Dayo Okusami, as a panelist at CSR-in-Action’s Petroleum Industry Act (PIA) Implementation Webinar, "Navigating the Shift: Essential Insights for Businesses on Implementing Nigeria's PIA."

Time: 10:00 am (WAT)
Date: Today, 29th August 2024

This webinar will provide practical strategies on PIA implementation, focusing on legal implications, compliance, business sustainability, and community development. It will also address regulatory changes and emphasize inclusivity for women and youth in the sector.

CSR-in-Action Group, a leader in sustainability with over 13 years of expertise in Corporate Social Responsibility, is dedicated to transforming business-community and environmental interactions.

Register now to join the conversation: https://t.co/fU0VB6o3xV

[TEMPLARS @templars_law]

The Bank of Ghana (BoG) has released an exposure draft for public comment on its proposed regulatory framework for digital assets. This marks a shift from the BoG's cautious stance on digital currencies, as it now aims to regulate and promote innovation while safeguarding financial sector integrity.

The draft sets requirements for Virtual Asset Service Providers (VASPs), focusing on consumer protection, cybersecurity, financial stability, and preventing financial crimes. It also defines the roles of Enhanced Payment Service Providers (EPSPs) and commercial banks in the digital asset landscape.

Stakeholders are urged to submit feedback by August 31, 2024, as their input will shape the future of digital asset regulation in Ghana. Businesses, especially VASPs and financial institutions, should start preparing for compliance now.

For assistance with these guidelines, please contact TEMPLARS Partner, Sarpong Odame, and Senior Associate, Aasiya Sarku Nettey.

Read publication: https://t.co/seaooRWrQu

[TEMPLARS @templars_law]

TEMPLARS Partner, Emmanuel Gbahabo, Managing Counsel, Oghomwen Akpaibor, and Associate, Olivia Agunyego explore the challenges of internal investigations under Nigeria's new data privacy laws, particularly the Nigeria Data Protection Act.

They highlight the importance of balancing effective investigations with strict data protection to avoid legal penalties and reputational risks. Key challenges discussed include data processing, consent, and cross-border data transfers, with a focus on the dangers of mishandling sensitive information.

The authors recommend clear data protection policies, minimizing data collection, enhancing security, and ensuring transparency to help organizations manage investigations while safeguarding privacy.

Read the full publication: https://t.co/7Mi9fHEawJ