ELRA, Mutual Dividends Ltd Launch Initiative to Boost Economic Growth.

By Raymond Enoch.

The Equipment Leasing Registration Authority (ELRA) has partnered with Mutual Dividends Limited to launch a nationwide awareness campaign in Abuja, aimed at encouraging lessors and lessees to register with ELRA. The initiative seeks to formalize Nigeria’s leasing industry, protect investors, and expand access to finance for small and medium-scale enterprises (SMEs).

The registration process is open to both lessors (equipment owners) and lessees (those leasing equipment), ensuring equal rights and protection under ELRA’s regulatory framework. Through registration, individuals and businesses can enjoy the benefits of transparent, well-regulated leasing transactions and reduced disputes between parties.

Speaking at the launch, Hon. Frank Okoh, Chief Executive Officer of Mutual Dividends Limited, emphasized that ELRA’s mandate is to safeguard the interests of both lessors and lessees. He described the event as an awareness drive to enlighten Nigerians about the vast opportunities in equipment leasing and to encourage entrepreneurship.

Adebola Brokelyn Sunday, Head of Corporate Communications at ELRA, urged Nigerians to register, noting that proper registration is key to building a resilient economy. “Those who want to do business the right way must avoid shortcuts and register with ELRA,” he advised.

He added that ELRA’s Alternative Dispute Resolution (ADR) team is available to help resolve conflicts amicably and collaborates with the apex court to ensure accelerated hearings — a mechanism designed to foster trust and stability in the sector.

The event drew the participation of business owners, investors, and financial experts, who commended the initiative as timely and impactful. Mrs. Maria Oko, wife of the CEO of Mutual Dividends Limited, expressed delight over the new developments and thanked ELRA for driving awareness across the country.

Also speaking, Mr. Oguche of ELRA noted that the establishment of the Authority in 2015 was a strategic step toward proper regulation and monitoring of the leasing industry. According to him, “a well-regulated leasing environment will strengthen investor confidence and attract fresh investments into the sector.”

Overall, the awareness campaign represents a bold move to stimulate economic growth, empower citizens, and promote a transparent, inclusive, and well-structured leasing industry in Nigeria.