TNP - The New Practice

Managing Partner: Baba Alokolaro
Number of partners: 3
Number of lawyers: 20
Languages: English, French, and all major Nigerian languages

Firm Overview:
TNP is an Andersen Global collaborating firm operating from two offices located in Nigeria’s major commercial hubs – Lagos and Abuja. It is distinguished by its ability to offer clients simplified innovative solutions in diverse areas of law, including corporate finance and private equity, capital markets, M&A, fintech, e-commerce, technology, media, telecommunications, intellectual property, energy & natural resources and dispute resolution. TNP is client-driven and goal-oriented in understanding and protecting clients’ respective business interests, industries, and peculiar needs, utilising all these to proffer innovative tools, solutions, and alternatives towards achieving our clients’ financial and business goals. As a result, it has played key roles in its clients’ successes, achieving remarkable results evidenced by some of the ‘Firsts’ (novel transactions) achieved locally. Everything about TNP is dynamic, which is why, it is constantly changing the legal landscape by providing ideas and solutions that have caught the attention of legal journals, local and international firms. The team is not just lawyers, they are strategic business advisers.

Main Areas of Practice:
■ Private Equity
■ Mergers & Acquisitions
■ Energy & Natural Resources
■ Project & Corporate Finance
■ Business Advisory
■ Dispute Resolution
■ Tax Advisory
■ E-Commerce & FinTech
■ Infrastructure & Real Estate
■ Intellectual Property (IP)
■ Telecommunications, Media and Technology

Corporate Finance, Capital Markets & Mergers & Acquisitions:
■ Currently advising a global telecommunications giant on its N200 Billion Bond Issuance Programme
■ Currently advising Flour Mills of Nigeria Plc on its N200 Billion Bond Issuance Programme
■ Currently advising a state government on the syndicated part-financing of a light rail infrastructure project embarked upon to improve the transportation system in the state and valued at over N70 Billion
■ Acted as Solicitors to the Offer in connection with Flour Mills of Nigeria Plc’s N70 Billion Bond Issuance Programme
■ Acted as Solicitors to the Offer in connection with TSL SPV Plc’s Bond Issuance Programme valued at N50 Billion
■ Currently advising a State Government on its N35 Billion Structure Note via private placement for the development of capital projects across the State
■ Advised Ellah Lakes Plc., one of Nigeria’s foremost agriculture focused companies on its Reverse Takeover by Telluria Limited which culminated in the listing of an additional 1.88 Billion shares of Ellah Lakes on the Nigeria Stock Exchange
■ Acted as Solicitors to the Trustee in the establishment of Interswitch Africa One Plc’s N30 Billion Bond Issuance Programme under which it successfully issued its 15% N23 Billion Series 1 Bonds
■ Acted as Solicitors to Axxela Funding 1 Plc in respect of its N50 Billion Bond Issuance Programme
■ Advised Cowrywise Financial Technology Limited on a loan facility with an aggregate amount of N5 Billion

Contact: Baba Alokolaro
Tel: +234 808 867 0001
Email: [email protected]

Private Equity:
■ Advised Verod Capital on the set-up of its specialist platform to invest in schools across West Africa and acted as Local Counsel on its first and second deals on the platform in Greensprings Educational Services and Rainbow Educational Services
■ Currently advising Novastar Ventures, a US private equity firm on its acquisition programme in Nigeria worth over N10 Billion
■ Advised Wakanow.com Limited (one of Africa’s largest online travel agencies) on a US$ 40 Million Investment by NASDAQ listed Carlyle Group, a global alternative asset manager
■ Advised Aruwa Capital Management (a female founded and focused Private Equity co-investment vehicle) on its inaugural (landmark) investment in Wemy Industries Limited, the first and only indigenous personal hygiene products manufacturer in Nigeria
■ Advised a Private Equity Fund on its US$ 40 Million strategic investment in an indigenous oil engineering services company as well as a secondary acquisition of a leading independent marketer of petroleum products
■ Acted as Transactional Advisers to a Private Equity Fund focused on high quality growing businesses across sub-Saharan Africa, on its investment in a leading Commodities Exchange in Nigeria
■ Advised a leading independent investment bank in respect of its acquisition of a significant stake in a premier insurance services company in Nigeria

Contact: Bukola Bankole
Tel: +234 808 867 0008
Email: [email protected]

FinTech & eCommerce:
■ Advised a leading Nigerian FinTech company on its acquisition by a global tech giant
■ Currently advising a leading digital wealth management platform that enables subscribers invest in dollar denominated assets in the US using their currency of choice
■ Advised a Payment Service Provider on its strategic and innovative collaboration with Deposit Money Banks to generate and assign virtual account numbers to ease payments and reduce card fraud
■ Advised Bamboo on the deployment of its unique online investment platform to provide Nigerians with real-time access to the US stock market with over 3,500 stocks and exchange-traded funds
■ Provided legal support to a Mobile Money Operator to setup its agent network of over 13, 000 agents targeted at serving over 46 Million unbanked Nigerians

Contact: Babajimi Ayorinde
Tel: +234 808 867 0000
Email: [email protected]

Energy & Natural Resources:
■ Advised a leading embedded power solutions company and its affiliated companies (“Group”) in order to adequately prepare the Group for potential investments
■ Currently advising and negotiating the renewal of three (3) Power Purchase Agreements (“PPAs”) between the Lagos State Government and its independent power producers, following the expiration of the PPAs which were structured on a build own operate and transfer model
■ Procured a Captive Power Generation Permit (74.5MW capacity) for Flour Mills of Nigeria Plc from the Nigeria Electricity Regulatory Commission (the “NERC”)
■ Currently advising a local manufacturing company in its bid to obtain an embedded generation licence from the Nigeria Electricity Regulatory Commission (NERC) in order to sell the excess power generated to an independent electricity distribution network operator

Contact: Babajimi Ayorinde
Tel: +234 808 867 0000
Email: [email protected]

Dispute Resolution:
■ TNP successfully represented Krane Grinaker-LTA Construction Ltd in a complex construction contract dispute and got a judgment circa US$ 10 Million against Mobil Nigeria Plc
�� TNP successfully represented Airtel Cards Ltd (the ‘Client’) in a major telecommunication dispute between the Client and Globacom, one of the major telecommunication companies in Africa and got a judgment of over N110 Million including interests against Globacom in Airtel v Globacom
■ Acting as counsel on several intellectual property - related disputes. TNP recently acted as counsel to an international record label and an A-list artist in a cross-border dispute bordering on alleged breach of an exclusive musical licence, where TNP played a leading role in the negotiation of a global settlement agreement between parties
■ Obtained judgment in favour of a client over a New York Convention enforcement suit instituted at the Federal High Court towards enforcing an International Arbitration Award made in London for sums in excess of US $ 3 Million and successfully secured the payment of the sum into the custody of the court pending the determination of the appeal

Contact: Babajimi Ayorinde
Tel: +234 808 867 0000
Email: [email protected]

Infrastructure & Real Estate:
■ Currently advising a state government on the syndicated part-financing of a light rail infrastructure project embarked upon to improve the transportation system in the state and valued at over N70 Billion
■ Currently advising a state government on a proposed Medical Park Project, a public-private project which will enable the state deliver excellent healthcare services and reduce the incidence of medical tourism in Nigeria
■ Advised a state government in the restructuring of a N155 debt acquired for economic and social infrastructure projects
■ Acting as Counsel to a State Government on financing its infrastructural projects by a consortium of Developmental Finance Institutions (DFIs)
■ Acted as advisers on a real estate project valued in excess of N2.7 Billion
■ Currently advising on the debt & equity project financing of the largest sports, events and retail space arena in West Africa worth c. US$ 70 Million

Contact: Baba Alokolaro
Tel: +234 808 867 0001
Email: [email protected]