DEADLINE: 18TH AUGUST, 2023
INVESTMENT IN DIGITAL AND CREATIVE ENTERPRISES (IDICE) PROGRAMME
REQUEST FOR EXPRESSIONS OF INTEREST FOR LEGAL ADVISORY FIRM FOR ENGAGEMENT OF FUND MANAGERS
TECHNOLOGY AND CREATIVE SECTOR
FINANCING AGREEMENT REFERENCE: 2000200005160
Project ID NO.: P-NG-K00-009
The Federal Government of Nigeria has received financing from the African Development Bank, Agence Française de Développement and the Islamic Development Bank towards the cost of the Investment in Digital and Creative Enterprises (IDICE) Programme and intends to apply part of the agreed amount for this finance to payments under the contract for a Legal Advisory Firm for the Engagement of Fund Managers under the IDICE Programme.
The services included under this project include providing leadership for the implementation of IDICE across the various components while ensuring nationwide reach. The responsibilities of Legal Advisory Firm for the Engagement of Fund Managers under the IDICE Programme will include but not be limited to:
- Advise on the final selection/onboarding of the Fund Managers in accordance with specified Procurement Policies.
- Advise on the preparation/review and signing of a contract with the selected Fund Managers based on terms and conditions acceptable to the Project Donors, the Bank of Industry and the iDICE Programme.
- Advise and perform duties as regards all regulatory requirements, duties, and obligations under all applicable laws in all jurisdictions to which the Funds may apply and be relevant to the Funds, any Fund Manager, or any party relevant to the establishment of the Funds. Provide legal advisory services and perform all relevant duties from the establishment to the closing of all three Funds over the life cycle of each fund, subject to the terms of the service contract in relation to duration of such legal advisory services and duties.
- Advise BOHDICE on its role as an Anchor Investor (representing the FGN) in the Funds. This shall also include advisory services during the establishment and operationalization of the Funds, including on the ambit of applicable tax and securities laws, regulations, and guidelines
- Advise iDICE on the governance structure of the Funds in alignment with private equity/venture capital industry standards, and in line with the applicable terms and conditions of the Project Donors, the Bank of Industry and the IDICE program.
- Assist and advise IDICE with the legal due diligence, and the review. negotiations and signing of the key Fund documentation, such as the subscription agreement, fund documentation, and side letter, as well as intellectual property rights, labor laws, exit strategies and all policy requirements (including integrity, tax and ESG) for all three Fund Managers.
- Liaise, as needed, with other stakeholders of the Fund, including Approved Investors and potential investee companies on matters concerning the scope of their responsibilities.
The Bank of Industry now invites eligible Legal Firms to indicate their interest in providing these services. Interested consultants must provide the following information indicating that they are qualified to perform the services:
Qualifications/Basic Requirements:
- 20 years cognate experience in legal advisory services with expertise in finance, commercial, corporate, creative sector, and business law in Nigeria.
- Experience in Venture Capital and other Finance Sourcing Arrangements including the legal frameworks they are based on.
- Experience in providing Advisory on international loan syndication to Development Finance Institutions (DFI).
- Experience in providing Legal opinions on statutes/regulations to a DFI or DFI-led programme.
- High level competence and experience in the review/preparation of Legal documents/Agreements.
- Experience in representing a DFI in court for litigation related actions and other dispute resolution form.
- Experience in perfecting loan instruments and other legal documents/vehicles within the banking sector including performing due diligence functions on all declared and undeclared aspects of any agreement or pre-agreement.
- Experience in providing high quality in-house training and legal advisory to an established Government owned DFI or Banking institution in Nigeria.
- Experience and expertise in financial transactions of an aggregate deal value of at least One Billion Dollars ($1,000,000,000).
- Experience in Tax Law and other regulatory matters involving companies, partnerships, and other legal entities, in Nigeria and other jurisdiction
- Experience in perfecting loan instruments and other legal documents/vehicles within the banking sector including performing due diligence functions on all declared and undeclared aspects of any agreement or pre-agreement.
- Experience in providing high quality in-house training and legal advisory to an established Government owned DFI or Banking institution in Nigeria.
- Experience and expertise in financial transactions of an aggregate deal value of at least One Billion Dollars ($1,000,000,000).
- Experience in Tax Law and other regulatory matters involving companies, partnerships, and other legal entities, in Nigeria and other jurisdictions.
- Expertise in advisory services pertaining to regulatory oversight in Nigeria and other jurisdictions and compliance/due diligence practices to meet all regulatory requirements.
- Experience in legal advisory services in financing large scale projects involving DFIs, Governments, private sector operators and other stakeholders.
- Excellent negotiation and communication skills.
Eligibility criteria, establishment of the short-list and the selection procedure shall be in accordance with the African Development Bank’s “Procurement Policy for Bank Group Funded Operations (October 2015)”, which is available on the Bank’s website at http://www.aidb.org.
Interested firms may obtain further information at the address below during office hours 8am-5pm.
Expressions of Interest should be delivered in both hard and soft copy to the address below by Friday, August 18, 2023 at 12 noon and mention “EXPRESSION OF INTEREST: LEGAL ADVISORY FIRM FOR THE FUND MANAGERS.”
For the Terms of Reference (TOR) for this Expression of interest, please go to www.boi.ng/idicetor
The IDICE Programme Coordination Unit
Bank of Industry, 23 Marina Street, Lagos.
Email: Idice-proposals@boi.ng
Tel: 0700 225 5264 (0700 CA
