CONFERENCE: Assessing the Benefits of Secured Transactions Law Reform in Nigeria and West Africa: Adopting the UNIDROIT Cape Town Convention, the MAC Protocol and Luxembourg Rail Protocol

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This capacity-building conference is aimed at sharing international best practices between local and international stakeholders, policymakers and academia involved in the reform, interpretation and implementation of international secured transactions laws in Nigeria and West Africa. The event will facilitate the discussion around recent reform initiatives led by intergovernmental organisations such as the International Institute for the Unification of Private Law (UNIDROIT) including its Rail Working Group, the United Nations Commission on International Trade Law (UNCITRAL), and the World Bank Group.

The event will discuss financial inclusion strategies and sustainable development policies within the remit of security interests over movable property including mobile equipment. It seeks to address the socio-economic and socio-legal elements that influence the use of property rights as secured collateral. Beyond the United Nations (UN) Sustainable Development Goals, specifically Goal 1 (no poverty), Goal 8 (decent work and economic growth), Goal 9 (industry, innovation and infrastructure) and Goal 16 (peace, justice and strong institutions), the workshop will address modern and international best practices that can be applied to facilitate the implementation of these sustainable development goals in consideration of the Nigerian Secured Transactions in Movable Assets Act (STIMA) 2017 and its National Collateral Registry rules. Being a signatory to the International Institute for the Unification of Private Law (UNIDROIT) Cape Town Convention 2001, the workshop will address the recognition, registration and enforcement of international security rights in the Cape Town Convention in Nigeria, and its application and enforcement in other West African jurisdictions.

It will also consider the need for West African nations to sign and ratify the Luxembourg Rail Protocol and the recently adopted Mining, Agriculture & Construction (MAC) Protocol respectively, in furtherance of the UN sustainable development goals in Nigeria and other West African countries. The workshop will outline modern strategies in the fight against poverty and social exclusion by exploring how far these international secured transaction laws can be interpreted, implemented and reformed to meet these UN sustainable development goals. Discussions will also include access to cheap finance from domestic and foreign creditors to promote investment and economic development, growth of small businesses, agricultural financing, equipment leasing, consumer credit, and financing of mining and construction equipment.

The outcome of this event will create, and help to shape, disseminate, such principles, standards and best financial inclusion and infrastructural development practices in Nigeria and West Africa. The workshop will draw inspiration from international secured transactions laws pertaining to UNIDROIT and UNCITRAL.

A Discussion Paper will be published to summarise the findings from this conference, and disseminated to all interested organisations afterwards.

 

Expression of interest to participate in this workshop should be directed to:

Organiser: Dr Iyare Otabor-Olubor (Aston University, Birmingham, UK)

Email: [email protected]

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