BRIPAN to Help Govt Restore Confidence in Doing Business in Nigeria
Sunday Okobi
In view of major challenges in the political and economic environment in the country, Business Recovery and Insolvency Association of Nigeria (BRIPAN) has stated that the association is set to help the government restore confidence in the act of doing business in Nigeria.
The association stated this yesterday at their annual general meeting in Lagos.
The BIRPAN President, Sola Oyetayo, said in his remark that association has had a significant growth in terms of publicity, visibility, rebranding, training, membership and financial base, “which has led to the immense contribution to redefining and refashioning how business of Government is conducted in Nigeria.”
According to him, “We are focus on business rescue mechanism to tackle insolvency and turn around management. If you look at the events that have come up, we are trying to project the sustainability and rescue of business to avoid them dying. Just take a look at the case of Etisalat, it would have been a typical business failure. What really happened is business rescue mechanism because with that kind of thing, it is better for business to be in existence than to die.”
Oyetayo noted that they need a body of experts to ensure they help those shaky businesses, and restore confidence in investors.
He disclosed that BIRPAN was in touch with the Presidential Enabling Business Environment Council on Ease of Doing Business, adding that resolving insolvency is a major indicator in ease of doing business in the country.
According to him in his remark, “On May 25, 2017, I led the delegation of the executives of the association to visit the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen to forge an alliance for better exposition of judges in the area of insolvency. We also informed the CJN the decision of the association to confer on him the membership of the association.
“The CJN assured us of his full support in conjunction with the National Judicial Institute. We have put together training programmes for Nigerian Judiciary on Insolvency and Business Rescue Mechanism. INSOL International has signified its intention to assist in this respect.”
When the 72 United Nations General Assembly convenes next week in the United States of America, some of the priority issues Nigeria will pursue at the gathering is to rally the international community in her quest for the release and safe return of the remaining Chibok school girls still in captivity of Boko Haram insurgents.
The nation is also planning a follow up on the resolution she presented at the 71st session on the need for international cooperation in combating illicit financial flows and enhance asset recovery which she believes is crucial in fostering sustainable development.
Minister of Foreign Affairs, Geoffrey Onyeama, made the disclosure yesterday in Abuja during a briefing on Nigeria’s