The Central Bank of Nigeria has issued a circular proposing a new mediation panel to handle loan‑related disputes before they go to court, aiming to streamline resolution in secured lending. The draft guidelines are open for comment, and if adopted could shorten legal battles and lower costs for borrowers and lenders across Nigeria.
The Central Bank of Nigeria has proposed the establishment of a mediation panel to serve as the first point of resolution for loan-related disputes, reducing immediate recourse to courts in secured lending transactions. The proposal was contained in a circular issued on Tuesday, inviting stakeholders to comment on draft guidelines for the establishment of a Read More: https://punchng.com/cbn-proposes-mediation-panel-for-loan-disputes/