EQUIPMENT Leasing Association of Nigeria (ELAN) is 27 years old. As such, it occupies the 31st position in the global rating of leasing. This is despite the fact it operates without a leasing law. Its position in the global rating indicates that given an opportunity of a leasing law, it would have been able to harness all its potentials to operate and impact greatly on the economy. BUKKY OLAJIDE examines the desperation of the association to get the leasing law signed.
THERE is an adage that says where there is no law, there is no sin. The leasing law defines a relationship between the leasee and the leasor.
The bill is simply a legal framework that defines business relationship and binds the two parties involved. This means that they are bound by the terms of the agreement.
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