The Federal government of Nigeria launches a leading leasing regulatory framework.
An invitation to Formal Unveiling of the Equipment Leasing Registration Authority and National Technical Workshop on Leasing Regulation.
Formal Unveiling of the newly established Equipment Leasing Registration Authority ELRA, will take place on Tuesday, November 7, at the Armed Forces Officers’ Mess and Suites Asokoro, Abuja by 10am.
Vice President, Senator Kashim Shettima, GCON, will be special guest at the opening session, while Zamfara State Governor, Alhaji Dauda Lawal is guest of honour.
The Honourable Minister of Finance and coordinating Minister of the Economy, Mr. Wale Edun is the Chief host.
A statement by the Registrar/Secretary of ELRA, Imoh Bassey, Esq, says the Leasing sector in Nigeria is set for a major boost with the Formal Unveiling followed by a Technical Workshop the following day on the Gains of Equipment Leasing in Project Implementation in Nigeria.
The Chairman/Chief Executive Officer of Equipment Leasing Registration Authority, Engr Saidu Njidda is delighted to welcome Stakeholders and the general public to the two-day event.
Resourse persons will be led by the Lead Consultant, Senator Ita Enang, OFR, at the high profile National Technical Workshop on Leasing Regulation aimed at sharpening the skills and deepening the knowledge of stakeholders in the sector.
Other resource persons at the Technical Workshop are Mr. Zaccheaus Adedeji, Chairman Federal Inland Revenue Service who will deliver a paper on the Importance of Leases and Lease Registration on the Nation’s Revenue Generation and Capital Asset Formation, while Mrs. Elizabeth Ehigiamusoe, President, Equipment Leasing Association of Nigeria ELAN, will speak on ‘The journey to Equipment Leasing Regulation in Nigeria, Today and the Future.’
The Equipment Leasing Registration Authority ELRA, is established by the ELR Act 2015 as a Revenue Generating Agency, with the mandate to register Lease Agreement, regulate the business of Leasing in Banks, other Financial Institutions in the economy generally and attract investment into the country.
The Authority is to formally open its Registry for Registration of Leases and generate revenue therefrom to the Federal Government.
The Chairman of the Board of the Equipment Leasing Registration Authority (ELRA) Engineer Saidu Njidda, has disclosed esdlier in the year that the agency has over the last 10 years, contributed over ₦14.3 trillion to the country’s GDP and continues to be more relevant especially under the prevailing situation where access to finance is difficult, especially for Micro Small and Medium Scale Enterprise (MSMES).
The board comprises 11 members including Engr. Saidu Njidda, Executive Chairman, Barr. Bassey Imoh, Registrar/Secretary, one representative each from the CBN, SMEDAN, NACCIMA, Federal Ministry of Finance, Budget and National Planning, Federal Ministry of Justice, Federal Ministry of Trade and Investment, and three representatives from the Equipment Leasing Association of Nigeria, the umbrella body of lessors which sponsored the bill.
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