Osaro Eghobamien

Managing Partner

Osaro Eghobamien, SAN

osaroeghobamien@perchstoneandgraeys.com +234-7045984770

Osaro is one of the Founding Partners of the firm, and is also the Managing Partner of the firm, leading the Dispute Resolution, Capital Markets, Banking & Finance and Private Client Practice Groups.

Osaro obtained his LL. B from Queen Mary College (University of London), in 1988 and his B.L from Inns of Court School of Law (Lincoln’s Inn), BL (1989). He was also called to the Nigerian bar in 1991. 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.

An erudite advocate, Osaro tirelessly exhibits a passion in arbitration and dispute resolution. He is renowned for the depth of his knowledge of the law and has, over the course of his career, distinguished himself in a string of notable cases. 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.

In 2011, he led the team that acted for the Nigerian oil corporation in a contentious US$5.5 Billion international energy arbitration which centered on the ownership of crude oil assets and the appropriate entitlement to the incentives of the investment tax credit.

Osaro also negotiated and drafted the Dispute Settlement Agreement (DSA) between the Nigerian National Petroleum Corporation (NNPC) and some International Oil Corporations (IoCs). He also negotiated a Gas Revenue Sharing Agreement (GRSA) arising from a Production Sharing Contract between NNPC and IOCs. He has acted as lead Counsel to a number of oil & gas arbitration on behalf of the State Oil Corporation (NNPC) and continues to do so.

A notable speaker, Osaro has made presentations to select audiences on Securitization, Financial Derivatives, and the Capital Market. 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 also delivered a paper at the NDIC Workshop titled “Priority Ranking under the Banking and Other Financial Institutions Act, 2004”. He was 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 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, 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.

A man of integrity, Osaro was recently nominated and appointed as a director of Convention on Business Integrity (CBI) alongside Opeyemi Agbaje as chairman, both replacing His Excellency, the Former Vice President of the Federal Republic of Nigeria, Professor Yemi Osinbajo, and Dr. Kolade who had occupied that position for some years. Osaro was also 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 is also a member of the committee that built the framework to create the Gele-Gele Port in Benin and serves as chairman of the sub-committee set up to review the proposed amendment to the Asset Management Corporation Act and proposed Bill for a regulatory framework for Securitization and Asset Backed Securities on behalf of the Legal Implementation Committee.