ELRA, Mutual Dividends Partner To Formalise Nigeria’s Leasing Industry
In a move aimed at strengthening Nigeria’s economy and empowering small businesses, the Equipment Leasing Registration Authority (ELRA) has joined forces with Mutual Dividends Limited to launch a nationwide awareness campaign promoting the registration of lessors and lessees with ELRA.
The campaign, unveiled in Abuja, seeks to formalise the leasing industry, protect investors, and provide easier access to finance for small and medium-scale enterprises (SMEs).
Speaking at the event, the Chief Executive Officer of Mutual Dividends Limited, Hon. Frank Okoh, said the initiative would open up new opportunities for Nigerians to start businesses through equipment leasing.
He noted that ELRA plays a vital role in protecting both lessors (equipment owners) and lessees (those leasing equipment) by ensuring fair and transparent transactions.
Similarly, Adebola Brokelyn Sunday, Head of Corporate Communication at ELRA, urged Nigerians to register with the authority, stressing that proper registration eliminates shortcuts and disputes.
He added that ELRA’s Alternative Dispute Resolution Team, in collaboration with the apex court, provides an efficient mechanism for resolving conflicts swiftly.
The event attracted business owners, investors, and financial experts, who applauded the initiative as a strategic step toward boosting investor confidence and stimulating economic growth.
Expressing delight, Mrs. Maria Oko, wife of the Mutual Dividends CEO, commended ELRA for its efforts to create awareness and promote transparency in the sector.
An ELRA representative, Oguche, described the establishment of the authority in 2015 as a “timely intervention” that continues to shape Nigeria’s leasing landscape, enhance regulation, and attract new investments.
With this awareness drive, ELRA and Mutual Dividends aim to reposition the leasing sector as a reliable engine for job creation, entrepreneurship, and sustainable economic development.
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