David Tatge Included in Presenters of Factoring and Model Law to Nigerian Lawmakers
December 11th, 2017
David Tatge was mentioned in multiple publications in Nigeria reporting on presentations he joined in making on November 29-30, 2017 to the Central Bank of Nigeria, to the Banking Committee of the Nigerian Senate, and to the House Banking Committee of the Nigerian House of Representatives, where a bill to enact factoring legislation has been introduced and is under consideration, based on a Model Law for Factoring in Africa co-drafted in 2016 by Mr. Tatge and Edward Wilde, a partner in the London office of the law firm Squire Patton Boggs, under the sponsorship of the African Export-Import Bank, the trade bank for Africa headquartered in Cairo, Egypt.
Following is an excerpt from The Guardian, “Lawmakers Pledge Enactment of Law On Factoring,” by Chijioke Nelson.
The absence of enabling law on factoring in the country may soon be over as members of the Banking Committee of the Nigerian Senate and the Banking and Currency Committee of the House of Representatives have pledged to accelerate the process of enactment.
The factoring bill, which is currently in the nation’s legislative chamber, would be given attention to ensure that it will be passed into law by the first quarter of 2018, going by the pledge.
Factoring is a financing method in which a business owner sells accounts receivable at a discount to a third-party funding source to raise capital.
The lawmakers made the pledge during the sensitization meetings on the Model Law on Factoring, which the African Export-Import Bank (Afreximbank), together with the Nigerian Export Import Bank (NEXIM) and the Nigeria Factoring Working Group held with the committees and representatives of the Central Bank of Nigeria.
Afreximbank provided the resource persons who made presentations on factoring and on the model law, including Peter Mulroy, Secretary General of FCI, the leading factoring and receivables finance association; and David Tatge, from law firm of Epstein, Becker and Green from the United States.
BizNis Africa, “Nigerian Legislative Committees pledge for Factoring Law,” by Zweli Sikhakhane.
All Africa, "Nigeria: Lawmakers Pledge Enactment of Law On Factoring," by Chijioke Nelson.
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