Nigeria: Charges, Mortgages, Indemnities

The Supreme Court's decision in 11 PLC v. Milan Industries Ltd raises critical questions about the constitutional validity of statutory ouster clauses that restrict judicial remedies. While upholding AMCON's powers to enforce mortgage securities and sell collateralized assets, the court controversially held that Section 34(6) of the AMCON Act validly ousts courts' jurisdiction to grant restorative reliefs, limiting aggrieved parties to monetary compensation only. This interpretation conflicts with constitut

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.

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.

The Central Bank of Nigeria (CBN) in February 2024 shared the exposure draft for the revised regulatory and supervisory guidelines for Mortgage Refinance Companies (MRCs) in Nigeria.

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

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...

On May 22 and 23, 2023, the Central Bank of Nigeria ("CBN"), by a notice published in the official gazette of the Federal Government, revoked the licenses...

It has been the practice for workers after donkey years of active service, either in the Private or Public Sector, to retire and not have a plan for life after retirement, the least of which, ought to be a roof over their heads.

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...