The Equipment Leasing Registration Authority (ELRA), has been inaugurated. The Hon. Minister for Finance, Budget and National Planning, inaugurated the Body on Friday, 19th May 2023. The Minister highlighted the importance of leasing, to the development of the Nigerian economy and expressed the need to continue to sensitise stakeholders, to further boost productivity, optimisation and growth of economy.
The Equipment Leasing Registration Authority (ELRA), is a public private partnership arrangement, set up by the Equipment Leasing act, to enhance its developmental objective.
The functions of the Authority include:
- Register lease agreements & Lessors.
- Determine eligibility of persons & requirements
- Register and investigate incidence of default
- Establish & maintain register of persons entitled to carry on business of leasing
- Undertake other activities to give effects to the Act and other functions conferred by the Act
The governing board of the Authority is chaired by Engr. Saidu Njidda, an Individual Member of ELAN. We shall give you updates as development unfolds.