Nigeria: Charges, Mortgages, Indemnities

A vessel under arrest is no longer earning, and every day it sits idle, it loses value. Ironically, vessel arrest, while intended to secure a lender’s recovery, can sometimes destroy the very asset from which that recovery depends.

Nigeria's maritime economy faces a critical challenge in ship financing, where decades of failed vessel loans have left banks wary and shipowners struggling. With the Cabotage Vessel Financing Fund preparing for activation, understanding why previous maritime financing interventions collapsed and how to structure bankable transactions has become essential for both lenders and indigenous operators seeking to build a competitive fleet.

Nigerian banks have long prioritized land as collateral for lending, but this orthodoxy increasingly fails to serve businesses whose real value lies in receivables, inventory, and working capital cycles. As manufacturing, distribution, and logistics companies drive economic activity without substantial land holdings, the financial sector's rigid collateral requirements may be stifling growth in the very enterprises that power Nigeria's economy.

If the interest in an engine installed in an airframe is held by a person other than the person who holds interest in the airframe, the risk of title annexation does exist...

The Corporate Affairs Commission (the "CAC") has issued a new schedule of fees (the "Revised Schedule"), superseding the previous regime that governed the cost of incorporation...

Operating a business in Nigeria entails more than the delivery of quality goods or services; it also demands strict adherence to applicable tax laws and regulations.

The purport of this article is best introduced with a practical analogy. Let us imagine a country where 80% of Debtors (Mortgagors) do not repay the money loaned to them by financial institutions...

On 23rd September 2022, the National Pension Commission released the Guidelines on Accessing Retirement Saving Account Balance towards Payment of Equity Contribution ...

In this Article, our Olusina Sipasi and Merit Okafor examine the powers of the federal Inland Revenue service to recover unpaid stamp duties on dutiable instruments, especially as it relates to financing transactions.