With a lot of questions and uncertainty surrounding the new tax regime that will take effect in January 2026, experts drawn from the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), will examine the implications of the reforms and give fresh insights into the new insolvency carve-outs in the Investment and Securities Act 2025.
Speaking in Lagos ahead of the forthcoming conference, which will be held on the 25th and 26th of September, BRIPAN’s Vice President, Albert Folorunsho, said that, alongside examining how the new tax law would affect businesses, the forum will focus on business rescue and restructuring.
“There appears to be an air of uncertainty as to the full implications of these tax laws. A session on ‘Nigeria’s New Tax Regime: Implications for Insolvency Processes’ will examine the implications of these tax laws on insolvency processes,” he said.
He said the event would feature banks that would tackle the issue of credit facilities, non-performing loans (NPLs), saying the Asset Management Corporation of Nigeria (AMCON) alone cannot handle all NPLs.
Folorunsho noted that the conference would enlighten both practitioners and creditors, especially banks, on the need to give time to recover the NPL.
He noted that judges are included in the conference to enlighten them not only on legal provisions but also on the possibility of company recovery during case reviews.
He added that a dedicated judicial roundtable would allow judges to discuss challenges encountered in handling debt recovery, insolvency and turnaround management cases.
“We would be examining market insights, particularly developments in insolvency and the performance of CAMA 2020, which now prioritises business rescue and restructuring. The Investments and Securities Act 2025 embodies extensive provisions relating to insolvency.
“These provisions are mainly carve-outs aimed at protecting or insulating certain market transactions and participants from the impact of a counterparty’s insolvency. This session will examine the rationale for the carve-outs and their practical effects on insolvency processes,” he said.
