By Destiny Jemiriayegbe
The Equipment Leasing Registration Authority (ELRA) partnered with Mutual Dividends Limited to launch an awareness campaign in Abuja, encouraging lessors and lessees to register with ELRA. This initiative aims to formalize the leasing industry, protect investors, and provide easy access to finance for small and medium-scale enterprises.
The registration process is open to both lessors (equipment owners) and lessees (those leasing equipment), who will enjoy equal rights. By registering with ELRA, individuals and businesses can benefit from regulated leasing transactions and reduced disputes between parties. The registration website is (link unavailable)
Hon Frank Okoh, CEO of Mutual Dividends Ltd, emphasized that ELRA protects both lessors and lessees. He stated that the event was an awareness programme to inform Nigerians about the opportunity to start their own businesses and engage in equipment leasing.
Adebola Brokelyn Sunday, Head of Corporate Communication, ELRA, encouraged Nigerians to register with ELRA for a more resilient economy. He stated that registering with ELRA is essential for lessors who want to do business properly and avoid shortcuts.
ELRA’s Alternative Dispute Resolution Team is available to help settle issues amicably, and they work with the apex court for accelerated hearing. This provides a safeguard for both lessors and lessees, ensuring that disputes are resolved efficiently.
The event was attended by business owners, investors, and financial experts, who praised the initiative. Mrs. Maria Oko, wife of the CEO of Mutual Dividends Limited, expressed her excitement about the new developments and thanked ELRA for the awareness campaign.
Oguche of ELRA stated that setting up ELRA in 2015 was a great decision, and the sector will be properly regulated and monitored. This will boost confidence in the leasing industry and attract investments.
Overall, the awareness campaign aims to promote economic growth, empower citizens, and create a more transparent and regulated leasing industry in Nigeria.
