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Can an Unregistered Money Lender Recover Loans with Interest in Nigeria? A Legal Perspective on Pacta Sunt Servanda

Leave a Comment / Banking Finance & Investment, Contract, Finance, Law / By

The debate over whether an unregistered money lender in Nigeria can recover loans with interest continues to generate legal discussions. While the Money Lending Act and state laws require money lenders to be registered before charging interest, some argue that a lender—registered or not—should still be able to recover their money (including profit) if the …

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How to Become a Registered Money Lender in Nigeria

Leave a Comment / Banking Finance & Investment, Finance, Law, Regulatory Law / By

In Nigeria, lending money and demanding interest on it is not as straightforward as simply offering loans. The law mandates that individuals or businesses engaging in money lending must be registered under the Money Lending Act or its equivalent laws in various states. Failure to obtain a valid money lending license can make loan agreements …

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