Regulatory, Compliance & Governance

Regulatory & Compliance

Regulatory, Compliance & Governance

With the increasingly complex regulatory landscape, a strong corporate governance framework is critical to avoid both financial and reputational damage. While most multinational companies have been careful to comply with local governance and compliance requirements, many are still exposed to significant risks when it comes to internal controls related to their business operations.

We act as trusted adviser to our local and multinational clients, providing advice on general regulatory compliance, competition law, anti-bribery, anti-money laundering across a range of industries and sectors.

We have a team dedicated to advising clients on best practice corporate governance and general legal obligations incumbent on companies, funds and institutions. We have also assisted clients on setting up and reviewing standards and internal policies and procedures. In addition, we offer bespoke training programmes, crisis management solutions and advice on other oversight matters.

With our wide range of expertise and experience in best practices, we can help you mitigate risk while keeping your business’ interests in the full picture.

Regulatory Advisory

Operating in the Nigerian business environment entails obtaining sector specific licences/permits and approvals of a general nature. Our team of experienced lawyers understand the both general and sector specific regulatory compliance and the level of compliance expected by regulatory authorities.

We identify the relevant compliance issues that impact on our client’s business and assist the client in navigate the regulatory path towards meeting their obligations to regulatory.

Our services include assisting with obtaining pre-operational and post operational licences/permits and providing regulatory compliance advice in the following sectors Pharmaceutical, Real Estate and Infrastructure, Oil and Gas, Power, Telecommunications, Financial Services, Insurance, Capital Market Operators, Maritime etc.

Experience

  • Assisted foreign investors in the financial, Fast Moving Consumer Goods (FMCG) and entertainment sectors to obtain relevant business permits necessary for legally commencing business in Nigeria
  • Assisted a leading investor in obtaining an approval in respect of its investment in Nigeria at the National Pension Commission.
  • Assisted a subsidiary of a foreign company to obtain pre-investment approval from the National Lottery Board.
  • Advised a world leading financial services IT provider in respect of the implementation and provision of internet banking services in Nigeria. Services provided under this transaction included the registration of Technology Agreement at National Office for Technology Acquisition and Promotion (NOTAP) and advising on sundry regulatory framework bothering on the implementation of the transaction.

Listed below are some of the government regulatory agencies we work with:

  • Federal Competition and Consumer Protection Commission (FCCPC)
  • National Information Technology Development Agency (NITDA)
  • National Agency for Food and Drug Administration and Control (NAFDAC)
  • Nigerian Content Development and Monitoring Board (NCDMB)
  • National Office for Technology Acquisition and Promotion (NOTAP)

Product Registration - NAFDAC

We assist manufacturers and distributors of regulated products with National Agency for Food and Drugs Administration and Control (“NAFDAC”) registrations. Food products, cosmetics, medical devices, drugs, chemicals and packaged water are regulated by NAFDAC. Our product registration team is comprised of trained professionals with in-depth experience, passion, clear understanding of client’s needs and efficient, timely delivery of service.

Our approach is to always provide pragmatic and most suitable assistance on issues of product safety, labeling, packaging, classification and approval requirements.

Our services include:

  • General product regulatory advisory – We advise on registration procedure, classification of regulated products, relevant laws and regulations.
  • Product registration and renewal – This include collation of application documents, review of labelling and packaging, liaising with NAFDAC,
  • Product searches and status investigation – Conducting searches on completed and ongoing registrations and advising on product registration status.
  • Filing and prosecuting petitions on behalf of client
  • Processing and obtaining change of agency and ownership – Preparing necessary documentation, and representing the client at consultative meetings.

We successfully registered and renewed a number of products including:

  • cosmetic products manufactured abroad and in Nigeria e.g. Relaxer kits, range of beauty care products for major global cosmetic brands;
  • food products manufactured abroad and in Nigeria e.g. Curry Powder, spices, Industrial Dry Yeast, Various wines and spirits and non-alcoholic beverages;
  • medical devices products manufactured abroad and in Nigeria e.g. Sanitary products, hospital treatment kits, etc.
  • Industrial chemicals.

We have successfully carried out change of local distributors on behalf of foreign manufacturers.

Foreign Direct Investment

  • Assisted a leading investment company in the incorporation of an SPV for use as its investing entity in the Pension sector. We advised on the corporate structure, prepared the shareholders agreement and assisted in obtaining relevant pre-investment registrations and post investment approvals/licenses from the Securities and Exchange Commission.
  • Currently assisting a leading multinational pharmaceutical and consumer goods company is setting up its business in Nigeria. We advised on the shareholding structure, regulatory compliance requirement and are currently assisting with procuring relevant post incorporation approvals and licenses.
  • Advised and assisted a leading European sport betting company in the incorporation of its local subsidiary and obtaining the relevant regulatory permit for its business operations in Nigeria. We are also currently providing labour and employment advisory services, immigration services, as well as agency contract documentation and general legal advisory to the Company.
  • Currently advising a renowned distillery on the road map to the entry into and doing Business in Nigeria.
  • Advising a property investment company in Dubai on the regulatory and legal compliance issues relating to establishing a local subsidiary in Nigeria;
  • Advised a multinational alternative power solution company on the set up of subsidiaries in several African countries, including structuring in relation to tax efficiency, investment protection, transfer of staff and repatriation of investments;
  • Advised a European Investment Bank in relation to the implications of setting up a Mauritius -based trust or foundation for Nigerian customers.

Company Secretarial

  • Providing company secretarial service to 2 (two) public limited liability companies,
  • Currently providing company secretarial services to joint venture companies and private limited liability companies with private equity investments.
  • Prepared and reviewed in line with existing law and rules of corporate governance, the policies and documentation of a quoted company on the Nigerian Stock Exchange.

Quick Links