Towards Reforming the Legal Framework for Secured Transactions in Nigeria - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Towards Reforming the Legal Framework for Secured Transactions in Nigeria write by Chima Williams Iheme. This book was released on 2016-08-16. Towards Reforming the Legal Framework for Secured Transactions in Nigeria available in PDF, EPUB and Kindle. This book offers a valuable guide to one of the most challenging areas of commercial law, now frequently referred to as secured transactions, with a focus on Nigerian, Canadian and United States perspectives. A debtor’s ability to provide collateral influences not only the cost of the money borrowed, but also in many cases, whether secured lenders are willing to offer credit at all. The book proposes that increasing access to, and indeed, lowering the cost of credit could tremendously boost economic development, while at the same time arguing that this would best be achieved if the legal framework for secured transactions in Nigeria, and of course, any other country with similar experiences, were designed to allow the use of personal property and fixtures to secure credit. Similarly, the creation, priority, perfection, and enforcement of security interests in personal property should be simplified and supported by a framework that ensures that neither the interests of secured lenders nor debtors are hampered, so as to guarantee the continuous availability of affordable credit as well as debtors’ willingness to borrow and do business. The book further argues that in addition to the obvious preference for real property over personal property by secured lenders due to the unreformed secured-transactions legal framework in Nigeria, its compartmentalized nature has also resulted in unpredictability in commerce and the concomitant effects of poor access to credit. Through the comparative research conducted in this book utilizing the UCC Article 9 and Ontario PPSA as benchmarks, the author provides reformers with a repository of tested secured-transactions law solutions, which law reformers in the Commonwealth countries in Africa and beyond, as well as the business community will find valuable in dealing with issues that stem from secured transactions.
Towards Reforming Nigeria's Secured Transactions Law
Towards Reforming Nigeria's Secured Transactions Law - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Towards Reforming Nigeria's Secured Transactions Law write by Williams Iheme. This book was released on 2017. Towards Reforming Nigeria's Secured Transactions Law available in PDF, EPUB and Kindle. In response to the inability of micro, small and medium scale enterprises (MSMEs) to access credit to finance their business operations, the governor of the Central Bank of Nigeria passed the Central Bank of Nigeria (Registration of Security Interests in Movable Property by Banks and Other Financial Institutions in Nigeria) Regulations, No 1, 2015. The purport of this regulation is, among other things, to ensure that MSMEs can use items of personal property to create security. This article critically examines the regulation in the light of the building blocks of article 9 of the US Uniform Commercial Code, which is not only a paradigmatic piece of legislation but appears to be the model on which the Nigerian regulation is based. This critical examination leads the authors to conclude that, although the regulation represents the first steps to reform, much more remains to be done to ensure effectiveness.
Reforming the Law of Secured Transactions
Reforming the Law of Secured Transactions - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Reforming the Law of Secured Transactions write by Iyare Otabor-Olubor. This book was released on 2016. Reforming the Law of Secured Transactions available in PDF, EPUB and Kindle. The company charge represents a key component of the secured transactions law system in Nigeria. Notwithstanding, its usefulness has now been called into question due to the recent enactment of the Central Bank of Nigeria Registration of Security Interests in Movable Property by Banks and Other Financial Institutions (Regulation No 1, 2015) which provides a more attractive platform in the facilitation of credit for individuals and businesses to use movable assets as security. The company charge is not recognised as a security interest under this Regulation, and neither do the provisions of this Regulation apply to the company charge. This article provides a methodical analysis of the nature of security under both regimes, while specifically looking at the reasons why there should be a degree of harmonisation regarding the publicity of their existence. The approach taken is burdened by the need to embrace a uniform publicity set of rules in lieu of a transparent priority system as against a straightjacket integration of dissimilar, albeit, embedded functional legal doctrines.
Secured Transactions Law Reform in Africa
Secured Transactions Law Reform in Africa - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Secured Transactions Law Reform in Africa write by Marek Dubovec. This book was released on 2019. Secured Transactions Law Reform in Africa available in PDF, EPUB and Kindle. Introduction -- A Modern Secured Transactions Law -- COMMON LAW -- Ghana -- Kenya -- Liberia -- Malawi -- Nigeria -- Zambia -- Sierra Leone -- CIVIL LAW -- OHADA Uniform Act on Securities -- Burundi -- Ethiopia -- Tunisia -- MIXED JURISDICTIONS -- Rwanda -- South Africa -- Zimbabwe -- A Modern International Approach to Equipment Financing in Africa: -- Th e Cape Town Convention and its Protocols -- Th e Infrastructure Underpinning a Modern Secured Transactions Law -- Conclusion.
Swimming in Tested Waters
Swimming in Tested Waters - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Swimming in Tested Waters write by Williams Iheme. This book was released on 2015. Swimming in Tested Waters available in PDF, EPUB and Kindle. It is the view of many scholars that robust economic development of a country is heavily dependent on the sufficient availability of credit in the economy. Doing business leads to jobs-creation and poverty reduction - but that can only happen if sufficient credit is made available to both business and non-business entities. However, lenders of credit are in business and should obtain some form of security, of which proprietary (in rem) security plays a key role. An internet registry which displays all security interests and encumbrances in personal property, thereby providing notice to the public regarding a particular secured transaction is highly recommended for Nigeria. In addition, all personal property should be admissible as collateral, coupled with creditors' self-help right to repossess and sell them in the event of default. The Nigerian legal framework on secured transactions is compartmentalized and insufficient to tackle today's commercial realities, but UCC Article 9 which has so far escaped attention of lawmakers in Nigeria may offer a number of recipes for Nigeria's secured transactions law reform.
