Nigerian Navy Supports ELRA in Enforcing Equipment Leasing Act, 2015
The Nigerian Navy has pledged its support to the Equipment Leasing Registration Authority (ELRA) for the enforcement of the Equipment Leasing Act, 2015. Chief of Naval Staff, Vice Admiral Idi Abbas, emphasized the importance of asset registration for economic stability during a visit from ELRA officials. ELRA's Registrar, Donald Wokoma, reiterated the agency's commitment to transparency and accountability in the leasing sector, promoting leasing as a driver of economic growth. Both organizations agreed to enhance collaboration and compliance in the maritime leasing sector.
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The Nigerian Navy has committed to supporting the Equipment Leasing Registration Authority (ELRA) in enforcing the Equipment Leasing Act, 2015. This was stated by Chief of Naval Staff, Vice Admiral Idi Abbas, during a visit from ELRA officials to the Naval Headquarters in Abuja.
ELRA's Registrar, Donald Wokoma, highlighted the importance of transparency and accountability in the leasing sector and the role of leasing in economic growth. The Navy and ELRA agreed to deepen collaboration, improve information sharing, and develop frameworks to enhance compliance and protect national economic interests. The Equipment Leasing Act, 2015 establishes a legal framework for regulating leasing activities in Nigeria.
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