Tag: #loanagreement #SMElawyers #SME #SMEs #microcreditlawyer

Micro-finance banks are fast growing credit companies in Nigeria with an edge of being deposit-taking institutions over and above the State-licensed money lending companies which are licensed only to lend money but not to process cash deposits from customers. According to the Nigerian Bureau of …

1. Introduction The licensing of a money lender company in Oyo State is one of the functions of the Ministry of Trade, Investment and Cooperatives (“Ministry”) of the Oyo State Government. The Ministry would issue a moneylender company a professional/business premises registration certificate, which serves …

The Nigeria’s consumer lending is currently valued at about N1.74 trillion, according to Euromonitor International, and it is expected to double by 2026. Naturally, Nigeria is a viable place to do business. As investors are expanding into the money lending business in Nigeria, they may …

Introduction A Micro Finance Bank (“MFB”) is a subsector company in the financial industry licensed by the Central Bank of Nigeria (“CBN”) to carry on the business of providing financial services such as savings and deposits, loans, domestic funds transfer and non-financial services to individuals …

In order to simplify the Nigeria’s credit system and improve access to finance for entrepreneurs and micro enterprises, the Federal Government of Nigeria enacted the Secured Transaction in Movable Assets Act in 2017. The Act applies to all security interests in movable assets created by …