Lagos govt. plans review of law on money lending


Lagos State

Lagos State Government, through its Ministry of Home Affairs says it will review the Law on Money Lending Activities in the state.

The Commissioner for Home Affairs, Mr Olanrewaju Elegushi made this known on Friday, during a ”Stakeholders’ Forum with Money Lenders in Lagos State” in Ikeja.

Elegushi said there was  need for the review as the laws guiding the operations of the lenders were obsolete.

”You will all agree with me that some of the laws guiding our operations require total overhauling, while others have become obsolete and archaic.

”We should, therefore, feel free to make our inputs and suggestions, as these will help us as we approach the State House of Assembly for a more robust and all-encompassing amendment on the laws on money lending in Lagos state.

”It is our expectation that, the laws will have a friendly approach to the government, practitioners and the beneficiaries who constitute the larger picture of our society,” he said.

The commissioner…

Source: Vanguard Newspaper