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ISSUE 003
THE MERIDIAN BRIEFING
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A concise read on sub-Saharan African deals, mandates and market moves, for the people who act on them.
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Every Thursday at 11:00 AM | 8 October 2026
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SIXTY-EIGHT NEW SILKS.
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On Monday, 68 lawyers took the rank of Senior Advocate of Nigeria: 67 advocates and one academic, approved by the Legal Practitioners' Privileges Committee at its 174th plenary in July. It is the profession's most visible promotion, and this year's class says a good deal about how the Nigerian Bar is built: who gets in, by which route, and from what kind of practice.
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COVER STORY
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Fifty-one years after Chief F.R.A. Williams and Dr Nabo Graham-Douglas became the first Senior Advocates, the rank has roughly a thousand holders and far tighter rules. Our feature covers what the rank actually confers, how the Committee decides, why only one professor now gets through each year, the petition from a former Senate President that did not stop the list, and the litigation partners at commercial firms who have taken silk.
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THE NUMBER
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1 in 12
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Twelve professors were shortlisted for silk this year. One was chosen: Professor Nnamdi Onyeka Obiaraeri of Imo State University. Since the 2022 Guidelines, the Committee confers the rank on only the best academic applicant in each exercise. In 2020, ten academics took silk.
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THE PEOPLE TO KNOW
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Olujoke Aliu, Aluko & Oyebode. Co-Managing Partner since January 2023 and head of the Abuja office. In 2015 she became the firm's first female litigation partner.
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Soibi Ovia, Duale, Ovia & Alex-Adedipe. Founding partner and head of litigation and dispute resolution. Called in 2007; Fellow of the Chartered Institute of Arbitrators (UK).
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Chinedum Umeche, Banwo & Ighodalo. Litigation and arbitration partner since 2021, called in 2007.
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Senior Sulyman Ibrahim, Attorney-General of Kwara State. Approved despite a petition from former Senate President Bukola Saraki, who called the state's Offa robbery-related charges against him politically motivated.
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Prof. Nnamdi Onyeka Obiaraeri, Imo State University. The year's sole academic silk and a former Dean of Law.
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MARKET MOVES
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01 | Africa gets its own rating agency. The African Union launched the Africa Credit Rating Agency in Port Louis, Mauritius, on 7 October, to rate sovereign, sub-sovereign and corporate issuers.
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02 | Dangote Refinery's N2.15 trillion offer closes. The offer of 4.1 billion shares at N525 was due to close on 13 October, with a listing on the Nigerian Exchange targeted for November. Any allotment beyond the 25 per cent upsize needs SEC approval. Banwo & Ighodalo acted as solicitor to the issuer, with Olaniwun Ajayi and ÆLEX named as joint solicitors.
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03 | Dangote v AGF, NNPC and NMDPRA. The refinery's Federal High Court challenge to the fuel import licensing regime under the Petroleum Industry Act was adjourned in Lagos. BusinessDay reports that the eventual ruling will test Nigeria's fuel import regime.
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FROM THE MERIDIAN DESK
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The Meridian Lawyer Index now uses seven tiers, from Rainmakers to On Watch, across 278 ranked lawyers. Our Top 10 African Law Firms has been refreshed on the last twelve months of verified activity. New silks will be reflected in the Index as their matters are recorded.
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If a colleague would find this useful, forward it. If this was forwarded to you, get The Meridian Briefing, every Thursday at 11:00 AM.
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