Amidst several milestone transactions, Abdulai, Taiwo & Co. was mandated by the Federal Ministry of Finance, as Consultants for the formulation of appropriate legislation and regulatory guidelines for a new Capital Market framework for Nigeria, and the report eventually metamorphosed into the Investments and Securities Act of 1999 (“ISA”), guiding all securities and capital market transactions in Nigeria. [ISA was revised in 2007 to accommodate components of novel transactions and practices]. The firm was joint transaction counsel in the Multiple Series FMBN SPV Issuer N100 BILLION GUARANTEED RESIDENTIAL MORTGAGE-BACKED BOND – the first RMBS securitization in West Africa, and speculated to be the largest in Africa to date.
* In consortium with BNP-Paribas Abdulai, Taiwo & Co. +Cleary Gottlieb, Steen and Hamilton, LLC were joint Solicitors to the BPE for the Privatisation Sale by Tender of 51% Shares in NITEL (the national telcom.), 2005.
Abdulai, Taiwo & Co. was the first Nigerian law firm to be registered as Consultants to the African Development Bank (“ADB”), and has also acted for and/or in transactions involving other regional and multinational Development Financial Institutions, such as Shelter Afrique, World Bank (IBRD Line of Credit Facilities), DEG of Germany; SBI of Belgium, etc. The firm has on past occasions, acted extensively for COFACE (Company Francaise d’Assurance pour le Commerce Exteriur) and BFCE (Banque Francaise pour Commerce Exteriur), which are both national export credit agencies (ECA) of France.
On the mandates of Bankers’ Committee (headed by the Central Bank of Nigeria), the firm established the regulatory framework and incorporation/registration of the key national institutions known as:
> Nigeria Inter-Banks’ Settlement Systems Plc (“NIBSS”);
> Financial Institutions’ Training Centre ( “FITC”)
* Effective May, 2007 THOMPSON OKPOKO & PARTNER and ABDULAI, TAIWO & CO. established a consortium relationship operating as “best friends” providing seamless services out of respective offices located in Lagos (Lagos State); Abuja (FCT); Warri (Delta State), and Port Harcourt (Rivers State). Together, these two firms now offer clients a level of legal competence that sets a new standard in Nigeria, both geographically and in terms of service, skills and expertise. T. J. Onomigbo Okpoko, S.A.N. has a long standing reputation as the leading litigation practice in the oil producing Niger Delta belt of Nigeria.