Osinbajo signs new laws to ease access to loans

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The Acting President, Yemi Osinbajo, has signed into law two bills that will ultimately facilitate access to more affordable credit for Nigerians.


The bills were earlier passed by the National Assembly and were part of efforts of the Buhari administration to ease the challenges of businesses in Nigeria.

The new Acts are the Secured Transactions in Movable Assets Act, 2017 (otherwise known as Collateral Registry Act) and the Credit Reporting Act, 2017.

“The passage of these Acts would facilitate the achievement of the goals of the Presidential Enabling Business Environment Council (PEBEC) set up by President Muhammadu Buhari in July 2016 and chaired by the Vice-President to progressively make Nigeria an easier place for businesses to start and thrive,” Mr. Osinbajo’s spokesperson said in a statement.