Banking, Finance & Fintech Law

Beacon Chambers provides legal counsel, preparation of Agreements and legal documents for/to commercial banks, microfinance institutions, non-bank financial companies, and digital fintech startups.

We structure debt financing, draft corporate loan agreements, register security documents, and manage debt recovery litigation. For the emerging fintech sector, we provide regulatory advisory on Central Bank of Nigeria (CBN) guidelines, SEC regulations, payment service licensing, and data protection compliance.

Banking & Fintech Practice Areas

• Debt Financing & Security Perfection: Drafting facility letters, loan agreements, deed of debentures, and executing registration of charges at the CAC.
• Fintech Licensing & CBN Compliance: Advisory on securing licenses for Payment Service Providers (PSPs), switching companies, mobile money operators, and microfinance institutions.
• Structured & Syndicated Loans: Structuring multi-creditor loan agreements, inter-creditor arrangements, and managing security trustee arrangements.
• Foreclosures & Asset Recovery: Executing debt recoveries, winding up proceedings, liquidation proceedings, receiver-manager actions, and representing banks in financial litigation.

Fintech & Digital Asset Regulatory Support

As financial technology evolves, we keep our clients aligned with changing policies regarding virtual assets, digital wallets, payment services (such as Open Banking frameworks), and NDPA data security requirements.

Regulatory and Statutory Framework

We represent and guide clients through compliance requirements set by key regulatory bodies and statutes, including:

• Banks and Other Financial Institutions Act (BOFIA), 2020
• Central Bank of Nigeria (Establishment) Act, 2007
• Nigerian Deposit Insurance Corporation (NDIC) Act, 2006
• Money Laundering (Prevention and Prohibition) Act, 2022
• e.t.c.