The Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) says it will intensify efforts to raise public awareness on business restructuring and insolvency practices, in line with the Companies and Allied Matters Act (CAMA) 2020.
Speaking at a press briefing in Lagos on Friday, Albert Folorunsho, BRIPAN Vice President, said the move would help businesses, stakeholders, and the wider public understand insolvency tools and their application, to boost business recovery across Nigeria.
He disclosed that the association’s annual conference, themed “Deepening Insolvency Tools for Resolving Commercial and Financial Challenges of Businesses”, will be held on 25–26 September at the Civic Centre, Lagos.
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Folorunsho explained that the event will feature judges, local and international insolvency practitioners who will provide expert insights on resolving financial and commercial challenges. Judges, he added, are being included in the discussions to broaden their understanding of insolvency laws and demonstrate the potential for companies to recover, aiding their adjudication process.
To enrich the discourse with global best practices, BRIPAN has also invited a speaker from Singapore, a country recognised for its high rate of business recovery.
According to Folorunsho, the conference will review sections 705 and 706 of CAMA 2020, which empower BRIPAN to regulate insolvency practitioners in Nigeria. With the association now boasting over 2,000 members, more than 80% are expected to attend the two-day event.
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The gathering will also examine how the insolvency provisions of CAMA 2020 have performed so far, with emphasis on business rescue, restructuring, and dispute resolution.
Folorunsho stressed that the role of banks in business recovery would be given special attention, particularly in relation to credit facilities, non-performing loans, and financial investment opportunities.
He said BRIPAN would continue to work closely with creditors to restructure debt and sustain struggling businesses, while also building confidence among financial institutions.
“The template is to find ways to turn around a business that is almost moribund into something that can be revived within the framework of the law. The essence of this conference is to equip practitioners with the tools to do this effectively and to convince creditors, especially banks, to allow time for recovery,” he noted.
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A key highlight of the conference will be a judicial roundtable session, where judges will deliberate on challenges they face in cases involving debt recovery, insolvency, and turnaround management.
Folorunsho reaffirmed BRIPAN’s commitment to building a stronger insolvency framework in Nigeria, positioning business rescue and restructuring as critical tools for economic sustainability.