Partner

  • Name: Osaro Eghobamien, SAN
  • Role: Partner
  • Position: Managing Partner
  • Email: osaroeghobamien@perchstoneandgraeys.com

Osaro is one of the Founding Partners of Perchstone & Graeys. He is also the Managing Partner of the firm and currently leads its Dispute Resolution and Banking & Finance Group.
He was admitted to practice in England and Wales in 1989 and later admitted to practice in Nigeria in 1991.

Over the course of his career Osaro has been opportune to develop competence in various specialized fields, including Oil & Gas, Maritime, Intellectual Property, Bankruptcy & Insolvency, and Constitutional and Electoral matters. This has resulted from his having worked in a few renowned firms before putting up practice in Perchstone & Graeys. His diverse and robust background therefore gives him sufficient experience required to proffer dynamic and flexible advice to clients, particularly with respect to contentious and non contentious legal issues. His ability to render useful and practical advice on matters ranging from Oil & Gas, to Constitutional matters and banking and finance, is a rare quality that clients often find extremely refreshing, particularly with respect to the nature of their requirements in today’s complex business world invariably cutting across multiple sectors.

As an erudite advocate, Osaro tirelessly exhibits passion in dispute resolution and continues to represent the interests of clients in our regular courts, from the High Court all the way to the Supreme Court, and hasdistinguished himself in a string of notable cases. In recognition of his diligence, passion and contribution to the legal profession, he was conferred with the prestigious rank of Senior Advocate of Nigeria in 2008.

On account of his extensive experience in dispute resolution in commercial matters particularly as it pertains to Banking & Finance, he was inevitably appointed to lead a team of lawyers to develop the Banking & Finance practice group in the Firm, which is now acknowledged as one of the best in the industry. He was a member of the Lagos State Trust Law Reform Committee and is a member of the Mortgage Implementation Committee of the Financial System Strategy (FSS 2020). He also participated in the review of pending Bills in the financial sector which was organized by the Project Management Office of the FSS 2020 and serves as chairman of the sub-committee set up to review the proposed amendment to the Asset Management Corporation Act and the proposed Bill for a regulatory framework for Securitization and Asset Backed Securities on behalf of the Legal Implementation Committee.

A notable speaker, Osaro has made presentations to select audiences on Securitization, Financial Derivatives, and the Capital Market. In more recent times, he delivered a paper at the 14th National Seminar on Banking and Allied Matters for Judges, on Legal Issues in Credit Administration in the Electronic Platform. He was also a facilitator at the 1st diet of the African School of Bonds and Securitization (ASBS) held in Accra, Ghana which also had Mr. Vinod Kothari; an international financial expert as the training director. At the 2nd diet of the ASBS organized especially for the Central Bank of Nigeria and directed by Prof. Penn of Sidley Austin LLP, Osaro facilitated on the local law perspectives of Securitization, Covered Bonds and Liquidity Facility. At the 3rd diet of the ASBS series, which was again specifically organized for the CBN, he took on a larger role as training director with the support of the Firm’s Banking & Finance team as facilitators.

Osaro brings his extensive international experience, and his deep familiarity with English common law, in assisting with the development of Nigerian law. He takes every available opportunity to teach law and legal principles to young legal talent, and is particularly focused on developing a strong, durable and sustainable law practice.

  • Following the revocation of the allocation of the Oil Prospecting Licenses to an international oil company, the latter initiated an action for judicial review of the action. The action which attracted widespread interest inside and outside the country raises a recondite point of law: the determination of the nature of an oil license pursuant to a Production Sharing Contract (PSC). Osaro leads the firm’s team representing the 5th defendant; another IOC which was joined because the oil blocks under dispute had been subsequently awarded to it.
  • He presently heads the team representing a pharmaceutical company in an action instituted by the Federal Government, which has generated considerable media attention and may possibly define the boundaries of product liability in Nigeria.
  • In 2011, he led the team that acted for the Nigerian oil corporation in a contentious $5.5 billion international energy arbitration which centred on the ownership of crude oil assets and the appropriate entitlement to the incentives of the investment tax credit. 
  • Osaro is representing the respondents in a high profile case instituted by the Securities & Exchange Commission at the Investments and Securities Tribunal, Abuja on allegations of market infractions and malpractices in the Nigerian Stock Exchange. The case raises a novel issue of what constitutes “financial assistance” under Nigerian company law.
  • Recently provided Expert Opinion in the Technology & Construction Court in London, to a Tier 1 specialist Law Firm based in the United Kingdom, in relation to multi-million-dollar oil spill claims, instituted in the United Kingdom, by communities in the Niger Delta area.
  • Representing the NNPC in a number of commercial arbitration, including :
  1. Total v NNPC – Representing NNPC in the dispute between the parties regarding the terms of a carrier agreement under a Joint Venture arrangements.
  2. CNOOC v. NNPC; STATOIL v. NNPC; SNEPCO v. NNPC – Representing NNPC in disputes regarding the terms and clauses of Production Sharing Contracts (PSCs)