ELRA and Mutual Dividends Partner to Strengthen Nigeria’s Leasing Industry

In a strategic effort to bolster Nigeria’s economy and empower small businesses, the Equipment Leasing Registration Authority (ELRA) has partnered with Mutual Dividends Limited to launch a nationwide awareness campaign promoting the registration of lessors and lessees under ELRA.Unveiled in Abuja, the campaign aims to formalize the leasing industry, safeguard investors, and enhance access to finance for small and medium-sized enterprises (SMEs).Speaking at the event, Hon. Frank Okoh, Chief Executive Officer of Mutual Dividends Limited, highlighted that the initiative would unlock new opportunities for Nigerians to start and grow businesses through equipment leasing. He emphasized that ELRA plays a crucial role in protecting both lessors (equipment owners) and lessees (equipment users) by ensuring fair, transparent, and well-regulated transactions.Also speaking, Adebola Brokelyn Sunday, Head of Corporate Communications at ELRA, encouraged Nigerians to register with the authority, noting that proper registration prevents disputes and eliminates unregulated practices. He further explained that ELRA’s Alternative Dispute Resolution (ADR) mechanism, in partnership with the apex court, provides an efficient system for resolving conflicts promptly and amicably.The event drew business owners, investors, and financial experts, who commended the partnership as a forward-thinking initiative designed to strengthen investor confidence and stimulate economic growth.Expressing her appreciation, Mrs. Maria Oko, wife of the Mutual Dividends CEO, praised ELRA for its continued commitment to promoting transparency and awareness within the leasing sector.Mr. Oguche, an ELRA representative, described the authority’s establishment in 2015 as a “timely intervention” that continues to shape Nigeria’s leasing landscape, enhance regulation, and attract investment into the industry.

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