Winner — Mondaq Thought Leadership Award (2024, 2025 & 2026)
Debt Recovery Law Practice
Systematic Asset Recovery, Demand Notices, Out-of-Court Negotiations & Insolvency Enforcement in Nigeria
Debt recovery is the legal steps or systematic process of collecting unpaid funds from individuals or businesses. In Nigeria, this primarily involves non-legal negotiations, civil litigation, or utilizing bank-specific tools like the Global Standing Instruction (GSI). Debt is fundamentally a civil issue, not a criminal one and our team of lawyers in Nomos Legal Practice assist creditors by:
Demand Notices & Structured Settlements
Collecting unpaid commercial debts requires structured legal processes to safeguard financial liquidity without unnecessary litigation costs . Our legal practitioners issue formal demand notices and lead negotiations to achieve structured debt settlement agreements between creditors and debtors . We establish clear repayment terms and enforce security interests to recover outstanding liabilities smoothly .
Recovery Proceedings & Banking Enforcement
Debt recovery is fundamentally a civil law matter rather than a criminal issue . When debtors refuse voluntary repayment, we institute formal debt recovery actions before competent courts . In addition to traditional civil litigation, we utilize bank-specific debt recovery mechanisms—such as the Global Standing Instruction (GSI)—to attach and recover funds across financial accounts .
Insolvency Proceedings & Asset Execution
For recalcitrant corporate debtors, we initiate statutory insolvency and winding-up proceedings to recover unpaid funds . Once a favorable judgment or recovery order is secured, our attorneys handle post-judgment execution, attaching assets and enforcing security rights to ensure full financial recovery for creditors .
Seeking Legal Recovery of Unpaid Commercial Debts or Security Enforcement?
Consult with our debt recovery legal team at Tafawa Balewa Square (TBS), Lagos Island