Wednesday, April 26, 2017  08.34PM / Anthony I Idigbe, Punuka Attorneys & Solicitors, November 15 2013 

World Bank reports on the observance of standards and codes principles and guidelines for effective insolvency and creditor rights systems, published in October 2007, identified the following weaknesses in Nigerian insolvency law: 

·     a lack of efficient means by which debtors can rearrange their affairs and preserve a potentially viable entity;(1)

·         from creditors’ point of view, no credible legal threat to recalcitrant debtors;

·        no provisions for insolvency practitioners to be qualified, regulated, licensed or bonded; and

·     a substantially under-resourced court system, which is susceptible to corrupt…

Read the full article at: https://www.proshareng.com/news/Debtors & Recovery/Recall–Insolvency—Restructuring-In-Nigeria/34616