Regulatory Alerts2026-04-10 | DFA/DIR/PUB/CIR/001/001Invitation For Inputs on the Draft Guidelines for the Mediation and Dispute Resolution Panel (MDRP) for Secured Transactions in Movable Assets (STMA)
The Central Bank of Nigeria has issued draft guidelines to establish a Mediation and Dispute Resolution Panel (MDRP) to handle conflicts arising under the Secured Transactions in Movable Assets Act of 2017. The panel will function as a specialized, non-adversarial platform for resolving civil disputes between creditors and grantors, with decisions rendered within ninety days of the first hearing. Stakeholders are invited to submit comments regarding these operational procedures and guidelines to the Central Bank of Nigeria no later than 9th October 2026.
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