Lagos: The Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) has called for a reinforced insolvency framework in Nigeria to aid business recovery and restructuring, acknowledging the shifting global and domestic landscapes.
According to News Agency of Nigeria, Mr. Abiodun Ariyibi, Vice President of BRIPAN, made this statement during a conference in Lagos prior to the association’s 2026 Annual International Insolvency Conference. The conference, set for September 24 and 25 at the Civic Centre, Victoria Island, will operate under the theme: ‘Building an Insolvency Architecture for a New World Order’. This theme reflects the necessity to reassess and fortify the policies, institutions, and professional practices that oversee business recovery and insolvency in Nigeria.
Ariyibi emphasized the need for an insolvency architecture that is not only innovative and aligned with global best practices but also responsive to Nigeria’s unique economic conditions. He highlighted the challenges posed by economic uncertainties, technological disruptions, evolving regulatory frameworks, climate-related risks, and shifting stakeholder expectations, all of which are reshaping the global business environment.
He underscored the importance of the discussions at the conference, noting that they are critical to Nigeria’s economic transformation journey. The goal is to explore innovative solutions, leverage technology, bolster regulatory frameworks, and foster collaboration among all entities involved in the insolvency ecosystem.
The conference aims to establish a more effective framework for managing business distress, facilitating restructuring, and creating opportunities for viable businesses to recover. Ariyibi stressed that modern insolvency practices should be seen as tools for business recovery, restructuring, and renewal, rather than mere mechanisms for managing business failures.
Ariyibi further explained that economic transformation requires not just the creation of new businesses but also the preservation and revitalization of existing ones. Effective business recovery and restructuring mechanisms are essential for helping organizations overcome distress, protecting livelihoods, retaining value within the economy, and contributing to sustainable national development.
The conference will gather insolvency practitioners, regulators, policymakers, judges, legal professionals, financial experts, business leaders, academics, and development partners to discuss the future of insolvency and restructuring. Key topics will include emerging trends, regulatory developments, technology, global best practices, and enhancing collaboration among stakeholders within the insolvency ecosystem.
The event will feature presentations by local and international experts, panel discussions, practical case studies, and conversations on strengthening economic resilience through effective insolvency and restructuring practices. Participants will have the opportunity to engage with decision-makers across various sectors, and a Gala Night will be held to celebrate professional excellence and foster stronger relationships among stakeholders.
Ariyibi encouraged participation from professionals, business leaders, regulators, academics, investors, and other stakeholders, and called for support from corporate organizations, professional service firms, financial institutions, and development partners through sponsorship and strategic partnerships.