An Appraisal of the Legal Regime for Bankruptcy and Insolvency in Nigeria

It's essential to highlight that Bankruptcy, as a mechanism for debt recovery, demands a thorough restructuring of pertinent legislation, such as the Bankruptcy Act of 2004. This entails eliminating provisions that relegate bankruptcy to a secondary role in debt recovery processes, thus ensuring its efficacy as a primary avenue for addressing financial insolvency and creditor claims.