The Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) has announced plans to intensify public awareness on business restructuring and insolvency practices under the Companies and Allied Matters Act (CAMA) 2020, as part of broader efforts to strengthen Nigeria’s corporate recovery ecosystem. Speaking at a press briefing in Lagos on Friday, Albert Folorunsho, BRIPAN Vice President, said the association will host its annual conference from September 25 to 26 at the Civic Centre, Lagos, under the theme “Deepening Insolvency Tools for Resolving Commercial and Financial Challenges of Businesses.” The event, now widely anticipated, will be known as the BRIPAN insolvency conference 2025.
Folorunsho emphasized that the gathering aims to equip practitioners, creditors, regulators, and the judiciary with deeper knowledge of modern insolvency mechanisms, particularly those designed to rescue viable businesses rather than simply liquidate assets. With over 2,000 members—more than 80% of whom are expected to attend—the conference will feature local and international experts, including judges and seasoned insolvency practitioners, to foster dialogue on improving the implementation of CAMA’s provisions on business recovery.
A key objective, Folorunsho noted, is to enhance judicial understanding of insolvency law, especially as it pertains to turnaround management and debt restructuring. To this end, the program includes a dedicated judicial roundtable session where judges will engage with practitioners on challenges encountered in adjudicating insolvency cases, including delays in debt recovery and inconsistent application of business rescue principles.
Drawing on global best practices, BRIPAN has invited an expert from Singapore—a country renowned for its effective corporate rehabilitation framework—to share insights on how structured insolvency processes can preserve jobs, protect creditor interests, and sustain economic activity. This international perspective is expected to enrich discussions on how Nigeria can refine its own approach to commercial dispute resolution and financial restructuring.
The conference will critically examine Sections 705 and 706 of CAMA 2020, which empower BRIPAN to regulate and accredit insolvency practitioners across the country. These provisions represent a major shift toward professionalizing the field and ensuring accountability within the insolvency ecosystem.
Participants will also assess the performance of CAMA’s insolvency regime since its adoption, focusing on real-world applications of business rescue plans, debt moratoriums, and court-supervised restructuring. Special attention will be given to the role of banks and financial institutions in business recovery, particularly regarding credit facilities, non-performing loans, and opportunities for strategic investment in distressed but salvageable enterprises.
Folorunsho stressed that BRIPAN’s mission extends beyond regulation—it is about changing mindsets. “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,” he said. “Our goal is to convince creditors, especially banks, to allow time for recovery rather than rushing into liquidation.”
He added that building confidence among lenders requires transparency, skilled intervention, and proven success stories—elements the association is actively promoting through collaboration with creditors, courts, and policymakers.
By fostering stronger cooperation between legal, financial, and regulatory stakeholders, the BRIPAN insolvency conference 2025 aims to position business restructuring not as a last resort, but as a strategic tool for economic resilience. As Nigerian companies navigate high inflation, currency volatility, and constrained access to capital, the ability to restructure and recover becomes vital to sustaining enterprise and employment.
With Nigeria’s private sector facing increasing pressure, BRIPAN’s renewed push for awareness, capacity building, and institutional alignment signals a growing recognition: saving businesses is just as important as creating them.
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