Banking and Finance

PUC routinely advise on, and act for clients in transactions and disputes relating to banking and finance law and practices, as well banking regulatory matters. Our clients recognise our expertise in adroitly navigating complex transactions, and rely on us to provide the vital legal and regulatory support needed to consummate their multifarious transactions. In recent times, we have worked with several Nigerian banks through the process of banking sector reforms and restructuring that commenced in 2005, and have continued up till date.


IPL/Wapic Insurance PLC Merger

Legal Counsel to Intercontinental Properties Limited (IPL), an asset and property management subsidiary of Access Bank PLC, in its merger with Wapic Insurance PLC. In that capacity, we provided the entire gamut of legal services necessary for the completion of the transaction in a manner that protected our client.

We conducted comprehensive legal, regulatory and corporate due diligence, procured court orders for the scheme of merger, filed and obtained requisite regulatory approvals, and ensured compliance with relevant laws and regulations.

Access Bank PLC and Intercontinental Bank PLC Merger

We acted as solicitors to Intercontinental Bank PLC in its 2011-2012 merger with Access Bank PLC, between 2011 and 2012. This was a notable transaction due to the size of the operations of both banks. Access Bank PLC was at the time, the 4th largest bank in Nigeria, whilst Intercontinental Bank PLC had one of the largest branch networks in Nigeria.

Sale and purchase of Spectrum Licences of a Moribund Telecommunications Company

We represented the Asset Management Corporation of Nigeria (“AMCON”) in the sale and purchase of the operating licences and spectrum bandwidth of a moribund company to an investing consortium. Our role in the transaction required us to draft, review and negotiate documentation relevant to consummate the transaction.

More critically, we anchored the procurement of the relevant regulatory approval for the transaction.

CBN-Driven Consolidation Exercise: Unity Bank’s Recapitalisation

PUC acted jointly with the law firm of Abdullahi Ibrahim & Co., as solicitors to Unity Bank PLC for its N23,928,142,026 (Twenty Three Billion, Nine Hundred and Twenty Eight Million, One Hundred and Forty Two Thousand and Twenty Six Naira) Rights Issue. PUC was involved in the review of all transaction documents, and in monitoring compliance with the attendant regulations.

UBS Investment Bank, London Advisory

We partnered with UBS Investment Bank, London, as Nigerian Counsel, in advising one of Nigeria’s first-generation banks in a restructuring arrangement.

Sale of Oceanic Bank Sao Tome

As sole legal Counsel to the former Oceanic Bank International PLC in respect of the sale of the entire issued share capital of its subsidiary in Sao Tome, and Principe Global Fleet UK Ltd., we provided legal advisory services to the Bank, and reviewed and negotiated the share purchase agreement and licensing agreements.

US$150m Naira-Linked Bilateral Loan Agreement with Merrill Lynch International

We acted as the Borrower’s Counsel in the review and negotiation of the terms of a US$150,000,000 (One Hundred and Fifty Million Dollars) Naira-linked Bilateral Loan Agreement with Merrill Lynch International, on behalf of a Nigerian Bank, one of Nigeria’s legacy Banks.

N1.8Billion Recovery for Oceanic Bank International PLC

We recovered the sum of N1.8Billion for the erstwhile Oceanic Bank International PLC (now Ecobank Nigeria Plc) in May 2010, in a suit which started out as a claim for discharge of a contract of guaranty by the guarantor. We also represented Oceanic Bank International PLC in a N541,079,046.23 debt recovery action, and debt recovery, and defended a N700 Million third-party guarantee claim on behalf of the Bank.

Ecobank Nigeria PLC $13m Guarantee Contract

We prosecuted a suit before the Lagos State High Court, on behalf of Ecobank for the discharge of a Guarantee Contract with obligations in excess of $13 million.

Other practice areas


Advocacy & ADR


Corporate Restructuring, Mergers and Acquisitions


Labour and Industrial Relations


Project Finance


Transport Law






General Commercial Practice


Capital Market


Energy and Environment



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