By Rukayat Moisemhe
The Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) has urged the management of Access Holdings Plc and Stanbic IBTC Plc to support business recovery and insolvency practices in Nigeria.
The President, BRIPAN, Chimezie Ihekweazu, a Senior Advocate of Nigeria, made this known on Wednesday in Lagos via a communiqué from the meetings with the banks.
Ihekweazu said the association’s objectives, particularly its initiatives were aimed at not only liquidating insolvent businesses but also having the option to rescue such businesses.
He called for a collaboration to train the banks’ legal and risk management staff in current insolvency best practices.
He also appealed for support for the upcoming BRIPAN International Conference.
The Group Chief Executive Officer, Access Holdings Plc, Ms Bolaji Agbede, on behalf of her bank’s team, reiterated the importance of industry-wide collaborations to foster responsible lending and borrowing practices.
This, she said, was critical not only for Access Holdings Plc but for the broader financial services industry.
She also expressed willingness to support BRIPAN’s initiatives and explore the proposed collaboration.
Also, the Chief Executive Officer of Stanbic IBTC Bank Plc, Mr Wole Adeniyi, said the bank aligned with BRIPAN’s mission, especially in the support and rescue of businesses affected by the #EndSARS protests and COVID-19.
He also expressed his interest in taking advantage of the association’s training of the bank’s legal, assets management department and debt recovery staff on current insolvency options and best practices, as well as legal provisions.
(NAN)
