Insolvency in Nigeria, whether corporate or personal, functions
both as a mechanism for addressing financial distress and as a
strategic legal tool for creditors seeking to recover outstanding
debts. Its procedures exert considerable pressure on defaulting
debtors and often result in the realisation and distribution of
assets for the benefit of creditors. The legal framework governing
insolvency has evolved significantly, particularly with the
enactment of the Companies and Allied Matters Act 2020 (CAMA 2020),
complemented by the Bankruptcy Act, the Federal High Court Act, and
relevant judicial authorities. Overall, the objective of insolvency
recovery is to balance the interests of debtors, creditors, and
other stakeholders…
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
