Tag: Debt Recovery Nigeria
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When Does a Loan Transaction Become Money Lending Under Nigerian Law?
Not every person who gives out a loan in Nigeria automatically qualifies as a money lender under the law. This article examines Nigerian appellate Court decisions on money lending transactions, licensing requirements, interest charges, enforceability of loan agreements, and the legal effect of violating Money Lenders Laws.
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How to Write a Demand Letter for Debt Recovery in Nigeria
A demand letter is often the first step in recovering a debt in Nigeria. It formally notifies a debtor of the outstanding amount owed and gives them a specific deadline to pay before legal action is taken. A properly written demand letter can encourage settlement, create useful evidence, and sometimes resolve the dispute without the…