FACTORING ASSIGNMENTS AND RECEIVABLES FINANCING BILL
Bill · Finance
A Bill creates a framework for financing through receivables assignments in Nigeria. It targets businesses and financial institutions to improve access to capital. This enhances opportunities for small enterprises.
What Is This Policy?
A bill to create a legal framework for factoring, receivables financing, and the assignment of receivables in Nigeria.
Who Does It Target?
Businesses, financial institutions, SMEs, and trade finance practitioners.
What Does It Aim to Achieve?
Enable receivables-based financing, improve SME access to working capital, and align Nigeria with international receivables financing standards.
Key Features
Institutional Framework: Establishes clear legal and operational structures Capacity Building: Strengthens institutional and human capacity Public Benefit: Designed to improve service delivery and public outcomes
Current Status
Rollout Stage: Under legislative consideration or active framework Coverage: Nationwide Funding: Federal Government appropriation or relevant mechanism
How to Access
Details available through the National Assembly or relevant government agency.
Impact & Metrics
Would strengthen institutional capacity and improve outcomes in the relevant sector.
Official Resources
Website: nass.gov.ng Contact: National Assembly, Three Arms Zone, Abuja
Legal Framework
Introduced under the legislative powers of the National Assembly vested by Section 4 of the 1999 Constitution (as amended). Draws on the Bills of Exchange Act (Cap B8 LFN 2004), the Companies and Allied Matters Act (CAMA) 2020, and the Banks and Other Financial Institutions Act (BOFIA) 2020. Aligns with the UNCITRAL Model Law on Assignment of Receivables in International Trade, the UN Convention on Assignment of Receivables, and UNIDROIT Principles on commercial factoring.