Guardian

HE was exposed to commercial legal practice very early in his professional career. And like a chain in a sprocket, Uche Valentine Obi, the incumbent chairman of the Capital Market Solicitors Association (CMSA), immediately got stuck. The result today is a track record of achievements for self and country. He is among the few that have the rarity of combining top corporate commercial practice with litigation, commercial arbitration and Alternative Dispute Resolution (ADR). His attention to details, calmness and ability to simplify and proffer solutions for complex issues, is uncommon. He has advised on several complex and cutting-edge transactions in oil and gas, capital markets, power, banking and finance, mergers and acquisitions, infrastructure, business restructuring, project finance, and regulatory advisory services.

His high profile advisory services are legion. Obi advised Nestoil on the USD $1.02 billion Nember Creek-Cawthorne Channel Trunkline (NCTL) pipeline project executed for Shell Petroleum Development Corporation (SPDC). He also advised Neconde Energy Limited on its USD $585 million acquisition of 45 per cent participatory interest in OML 42 located in Niger Delta from SPDC, TOTAL and NAOC; advising an E&P Company on its global IPO for raising USD $500 million and dual listing on London and Nigerian Stock Exchange, as well as advising on a USD $470 million senior ranking Reserved Base Lending (RBL) transaction involving a borrower and a syndicate of international and Nigerian banking institutions, among others.

Obi has also been involved as lead counsel in various litigations at the trial and appellate levels. He manages a large litigation portfolio bestriding top end civil, regulatory, commercial, criminal, labour and election petitions. He has successfully handled over 20 appeals in the past two years, numerous high court matters, and currently handling about 20 substantive appeals at the Supreme Court level. He has been deeply involved in arbitration as counsel, party and court appointed arbitrator for arbitral references.

As a member of the APC of SEC, he has assisted the SEC quasi-judicial panel to resolve complex infractions, complaints and matters affecting publicly quoted companies and their managers, capital market operators, and consultants in their operations and dealings in the Nigerian Capital Market.

Some of the recent litigation, arbitration and ADR matters he has handled include being the lead counsel for a commercial bank in the N50 billion ($315 million USD) class action instituted by the several users of Automated Teller Machines (ATM) against a number of banks in Nigeria. The case was basically determined on his preliminary objection filed on behalf of the client. He was also the lead counsel for the Independent National Election Commission (INEC) in about 15 appeals involving Governorship, Senatorial, House of Representatives and state Houses of Assembly Elections.

He represented the Nigerian apex capital market regulator on the series of trial and appellate matters involving the removal and reinstatement of the president of the Nigerian Stock Exchange (NSE), as well as the lead counsel in some shareholders’ class actions brought by aggrieved shareholders challenging the removal of their executive management by the Central Bank of Nigeria (CBN) in 2010.

He also does pro bono cases. For example, he was the lead counsel to several pro bono matters, some of which have been handled from the trial court through the Supreme Court.

Obi successfully defended a representative action brought against an International Oil Company (IOC) and an indigenous E&P company on behalf of 230 former employees, claiming about $27 million USD as additional severance package.

He was a one-time executive member of the Section on Business Law of the Nigeria Bar Association, and a member of the National Technical Committee for the Implementation of E-Dividend in Nigeria. He has been listed among the topmost integrity-driven professionals in Nigeria by the major newspapers including The Guardian and Thisday.

Obi has contributed over 40 published articles in the areas of capital market, business and investment laws in the Business Day Law Specialist Section, and has co-facilitated several seminars.

He is a member of the board of directors of Bourse Exchange Nigeria Limited – a subsidiary of Bours SA. He is a recipient of the Fulbright award of Rotary International.

He has made tremendous contributions to the development of law in Nigeria in diverse ways. He leads the CMSA whose membership comprises about 250 commercial law firms in Nigeria with about 10,000 practising lawyers as chairman.

“Before now, I was the association’s vice chairman. In this capacity, I have been involved in facilitating a number of capacity building programmes, such as seminars, conferences, fora, luncheons and other structured trainings for lawyers. I also manage Alliance Law Firm, which has about 25 lawyers working under it, and assist train students of the Nigerian Law School in their chamber attachments”, he noted.

He has been involved in legal writings and has contributed towards Nigerian jurisprudence through the numerous cases he had handled at both the trial and appellate courts.

But how did he become a lawyer?

Read him: “I have always had a passion for law. In fact, I started reading legal literature even before I entered the university, as one of my elder brothers had studied Law at the University of London. I was also motivated to study law and take it up as a profession because of my firm belief in fairness and justice. Even as a child, I always saw myself resolving disputes among my peers. In fact, it was a rather natural urge to be in the legal profession and I know that it suits my personality a great deal.”

He sees some people as role models and he is quick to admit they inspire him a great deal. Among such great legal minds and personalities are Lord Denning, the iconoclastic and erudite British Judge, President Nelson Mandela and President Barrack Obama. Some of his outstanding contemporaries at the Law School include Dr. Joseph Nwobike (SAN), a New York-based legal practitioner; Emeka Ugwuonye, a celebrated law lecturer at the University of Dundee; Dr. Bede Nwete and the newly appointed High Court Judge of Lagos State, Wasiu Animashaun.

Born and raised in a strict religious home of parents from Umuozu community in Imo State where values for industry, respect and discipline were taught, Obi meandered all the vicissitudes of life andgrew to carve a niche for himself in the legal profession. “My father was a major importer of textile with Dutch partners while my mother was a teacher. They were very religious and attended daily masses during our growing up days. They never allowed me a chance to derail or do what some of my peers would ordinarily get away with. In short, they were very strict and influential. There were certain things they would never tolerate, and if you erred, they had a quiet way of making you regret your actions and promise not to repeat any such incident”, he recalled.

He is an alumnus of the Imo State University where he graduated with a degree in law in 1991. He subsequently enrolled at the Nigerian Law School and was called to the Nigerian Bar in 1992. He later obtained a Masters Degree in Law (LLM) from the University of Lagos and also a Master of Business Administration (MBA) from Abubakar Tafawa Balewa University (ATBU). He is a fellow of the Institute of Direct Marketing; a member of the Chartered Institute of Arbitrators, United Kingdom; a member of the Nigerian Bar Association (NBA) and the International Bar Association (IBA).

He is also a member of the Rocky Mountains Mineral Foundation, USA.

During his National Youth Service Corps (NYSC), he was posted to the Legal & Corporate Secretariat Division of the Nigerian National Petroleum Corporation (NNPC). He later joined the chamber, BID Ezeogu & Associates. “The principal partner was a former banker and lawyer that specialised in banking and finance law practice and commercial litigation. I worked under him for about four years and learnt quite a lot because he was a hardworking and principled professional of the first order”, he explained. He is today the managing partner of Alliance Law Firm.

He recalled that his first court appearance was at the Court of Appeal. He said he was initially jittery on seeing the judges taking their seats but became composed as proceedings progressed. “My first appearance was at the Court of Appeal, Lagos. I was given the file by my principal to go to the court with a guide on what to say and expect. I took the file home and read everything in it and tried to compose myself, but by the time I saw the three stern-looking justices file into the courtroom with the mace-bearer in front, I became jittery.

“However, when it got to our turn, the presiding justice, seeing how new my entire outfit was and obviously observing that I was fresh at the Bar, smiled as soon as I managed to announce my appearance and that helped a great deal to stabilise me. I was then able to briefly move my application and before I could commit any procedural blunders, the very senior counsel on the other side indicated that he was no longer opposing the motion and the court granted same as prayed. It was just a great relief to be outside the courtroom again after the matter”, he stated.

He believes that the Nigerian capital market will eventually grow to become a global champion with the reforms and deliberate policies being initiated by SEC, NSE and other stakeholders. “With the size of the Nigerian population, available resources, its enviable position in the continent, regulatory reforms, and the deliberate policies of the SEC, NSE and other stakeholders to grow our market, the Nigerian capital market will surely develop at a faster pace to emerge as a global champion”, he said, adding that investors’ confidence is being restored with new products introduced.

He plays tennis, swims and enjoys good music. He is married to Emmanuella Obi and they are both blessed with children.