Dangote extends relationship as Banwo & Ighodalo, Olaniwun Ajayi headline IPO

Two prominent Nigerian corporate law firms, Banwo & Ighodalo and Olaniwun Ajayi LP, have solidified their partnership with the Dangote Group by securing key legal roles in the IPO of Dangote Petroleum Refinery and Petrochemicals FZE. This marks the third Nigerian law firm involved in the transaction, alongside AELEX, and is set to be one of the most significant capital-market events in Nigeria's history.

Banwo & Ighodalo have been appointed as Solicitor to the Issuer, Dangote Refinery, while Olaniwun Ajayi has been designated as Solicitors to the Offer. Ms. Fatima Aliko-Dangote, the daughter of billionaire industrialist Aliko Dangote, is also a member of the Nigerian Bar and was once an Associate at Banwo & Ighodalo.

For these firms, the IPO extension represents more than just another major mandate, as both have historically been involved in large financing transactions involving businesses controlled by Aliko Dangote. Banwo & Ighodalo's appointment as Solicitor to the Issuer brings them directly into the company offering its shares to the Nigerian investing public, while Olaniwun Ajayi's involvement highlights its experience in major Dangote transactions, including a recent $4 billion syndicated term loan to the Dangote Refinery.

This appointment marks another major Dangote transaction for both firms, adding to their track record of involvement in corporate finance, banking, and capital markets. Their role in the IPO underscores the growing importance of Nigeria's leading corporate law firms in the country's financial transactions, as they transition from supporting private industrial projects to representing a publicly-owned company with potentially millions of Nigerian shareholders.