To print this article, all you need is to be registered or login on Mondaq.com.
Debt is a particular amount of money that is contractually or
otherwise due. A claim for money must be a particular, set,
liquidated sum with a due date and no payment has been made by the
debtor for it to qualify as a debt.
Debtors and creditors will always exist as far as man and his
endeavours are concerned, so it is important to understand the laws
that apply to debt collection.
Following the stages or methods outlined by Nigerian laws is
necessary for a successful debt collection in Nigeria.
Olisa Agbakoba Legal (OAL) Associate, Cornelius Gabriel
discusses the Legal steps in recovering debt from a firm or an
individual in Nigeria.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
According to Roy Goode, a financier taking security for an advance is concerned to see that if the debtor's assets are insufficient to meet the claims of all his creditors, the financier will at least be...
In today's world, being customer-centric is no longer just a nice idea; it is now a fundamental part of doing business. This fundamental obligation in doing business cuts across all sectors including...
Amendments to the Financial Intelligence Centre Act, 2001 ("FICA") have changed the definition of accountable institutions, raising important considerations for credit providers, including those of offer incidental credit.