An Appraisal of the viability and enforcement of secured lending transactions in Nigeria
Date
2022
Journal Title
Journal ISSN
Volume Title
Publisher
Journal of Private and Property Law,
Abstract
The history of mortgage practice in Nigeria. Importance of security in mortgage transactions. Legal frameworks regulating mortgage transactions in Nigeria. Stamp duties act. The enforcement of mortgage security in the Nigerian financial system. Challenges to the enforcement of mortgage security in Nigeria. Judicial challenges. Social challenges.
Description
The financial sector's role in the sustenance of various projects has made a great impact on the economy of Nigeria. This support extends to all sectors of the economy. The importance of sustaining the financial sector is evident in the various consequences of a failed financial system on the economy of a nation. Mortgage is a major part of the financial system. There is the need to ensure that the mortgage industry in Nigeria is sturdy at all times as its failure would have a massive negative impact on the economy.The central aim of this paper is to establish the practicality and challenges of enforcement of mortgage security in Nigeria.