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The state-owned Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA) announced in May 2016 that they would soon be signing a memorandum of understanding...

On Thursday, February 8, 2018, the Executive Governor of Lagos State, Akinwunmi Ambode signed the Lagos State Electric Power Sector Reform bill into law (the "Law").

Mortgaging a ship is a form of security wherein a ship owner ("Mortgagor") gives to the lender ("Mortgagor") ...

In Part 1 of our Neobanking Series, we explored some of the strategic considerations that make Nigeria a compelling destination for global Neobanks.

Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services.

In order to execute large projects or for businesses to expand, there is usually a need to apply for loan facility from Banks ("the Bank").

One of the common areas of dispute in commercial transactions is the right of a Mortgagee to exercise its power of sale of a mortgaged property following the Mortgagor's failure to repay a loan.

In a recent development, the Central Bank of Nigeria (CBN) has taken a decisive action by revoking the operating licenses of 132 Micro-Finance Banks, 4 Primary Mortgage Banks and 3 Finance Companies across the country.

The amendments to section 27 will come as good news to many taxpayers. It will however be bad news or a mixed bag for some others. For now, the main casualties are taxpayers whose businesses are...

Bank charges are fees that banks impose on their customers for using their services. They vary depending on the type of service and the bank. Some of the common bank charges include ATM fees...

Foreign investors engaging with Nigerian companies face unique challenges when recovering debts or protecting investments during financial distress. This comprehensive guide examines the legal framework under CAMA 2020, exploring restructuring mechanisms, enforcement of security interests, winding-up procedures, and cross-border insolvency considerations that shape debt recovery strategies in Nigeria's evolving commercial landscape.

The enactment of the Petroleum Industry Act (PIA) 2021 and the subsequent Nigerian Upstream Petroleum (Assignment of Interests) Regulations...

Stamp duties are a form of tax paid on documents or instruments executed in Nigeria. It is also paid on documents or instruments to be performed in Nigeria.

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...

A mortgage is a conveyance or lien over a property for the security of the repayment of a loan facility, which is discharged after the liquidation of the loan facility.

Land or property acquisition through mortgages in Nigeria is an attractive option for individuals who prefer to spread payments for the property over time rather than pay the full price up front. A mortgage is a long-term loan secured for the purpose of acquiring land or property. It is a legal arrangement where the property serves as the collateral for the loan, with the lender having the right to enforce or sell the property if the borrower defaults in repaying the loan over the agreed period(s).

In Nigeria, the execution of an aircraft or engine sale agreement will attract stamp duties at an ad valorem rate of 1.5%.