Top-Rated Debt Collection Agency in Nigeria

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4.97/5 Average rating from 600+ reviews
WHY USE DEBITURA? 

Recovering your debt in Nigeria is most easily achieved through this method.

Debitura is a debt recovery specialist in Nigeria, offering a wide range of services including accounts receivable management, debt collection notices, pre-legal and legal debt collection, and enforcement court proceedings. Our experienced professionals have thorough knowledge of Nigeria's debt collection laws and regulations, enabling us to provide effective solutions that help businesses recover outstanding debts efficiently.

Receive consistent support throughout the process from beginning to end.

Tailored debt recovery plan.

We have a team of over 500 professionals specializing in global debt collection.

We have achieved a 87% success rate while offering the most affordable cost.

How about "Nigeria's Top Debt Collection Lawyers: Our Trusted Local Partners"?
31B, HFP Way, Dolphin Estate, Ikoyi, Lagos
AAA CHAMBERS

AAA Chambers is a leading Debt Recovery Law firm in Nigeria with several local and international awards. We have a lot of seasoned lawyers that execute debt recovery instructions. You can read more on www.aaachambers.com

Lawsuits
Legal collection
Debt enforcement
25
2011
Law firm
5, Olalekan Ogunjobi Street, Havana Estate, Arepo, Ogun State, Nigeria
CHAMAN LAW FIRM

Chaman Law Firm is a world class and one of the leading law firm in Lagos, Nigeria.

Lawsuits
Legal collection
Debt enforcement
25
2019
Law firm
50/52, Toyin Street, Ikeja, Lagos, Nigeria
Resolution Law Firm

We are a leading global law firm based in Lagos, Nigeria. Our attorneys are committed to an excellent delivery of services across our areas of legal practice.

Lawsuits
Legal collection
Debt enforcement
17
2015
Law firm
128b Association Road, Dolphin Estate, Ikoyi, Lagos State, Nigeria
Famsville

Famsville Solicitors is a rapidly growing commercial law firm in Nigeria with multi-jurisdictional reach and competence across the areas of Litigation, Debt recovery, Corporate/Commercial, Labour/Employment, Immigration, Arbitration, and ESG. We are a full-service firm keen on delivery of bespoke services to a wide range of clients both locally and internationally. Our core expertise cuts across legal advisory and representation on complex transactions, litigation, arbitration and regulatory interface across all value chains of the Nigerian economy.

Lawsuits
Legal collection
Debt enforcement
20
2017
Law firm
Suite 86, Dolphin Plaza, Corporation Drive, Dolphin Estate, Ikoyi, Lagos
CUA LEGAL

CUA Legal is a commercial law firm in Lagos Nigeria which is committed to providing innovative and affordable legal solutions to organisations and individuals.

Lawsuits
Legal collection
Debt enforcement
5
2008
Law firm
15 Mbonu Street, D/Line, Port Harcourt, 500261, Rivers State, Nigeria
RecovaDebt Limited

We specialize in recovering debts that other debt collectors have given up on.

Lawsuits
Legal collection
Debt enforcement
10
2016
Debt collection agency
33 Kofo Abayomi Street, Victoria Island, Lagos, Nigeria
Associated Attorneys

At Associated Attorneys we put our vast experience to work for one simple purpose; to provide creative,quality and timely solutions to the legal and business requirements of our clients.

Lawsuits
Legal collection
Debt enforcement
18
2006
Law firm
4C, Taiwo Odunuga Close, Ire-Akari Estate, Isolo, Lagos, Nigeria
Adeola Oyinlade & Co

Adeola Oyinlade & Co; Nigeria’ 1st Choice and leading Business and Debt Recovery Law Firm based in Lagos with special expertise in Consumer Credit, Finance and Corporate Restructuring and highly rated in proffering excellent and strategic legal solutions to Entrepreneurs, Debtors, Creditors and Finance Service Providers

Lawsuits
Legal collection
Debt enforcement
21
2014
Law firm
4, Idowu Martins Street, Lagos Nigeria
Queens Attorneys

A commercial law firm with competence in debt recovery

Lawsuits
Legal collection
Debt enforcement
28
2012
Law firm
1 Cocosheen Close, Allen Avenue, Ikeja Lagos
Olympus Law Partnership

Olympus Law Partnership is a leading Provider of Legal Advisory services, Specializing in Intellectual Property, Trademark and Patent Law, E-commerce Law, Information Technology, Venture Capitals, Real Estate, Banking and Investment, Media, Entertainment and Advertising, and general legal services related to commercial transactions.

Lawsuits
Legal collection
Debt enforcement
5
2015
Law firm

The ultimate guide about debt collection in Nigeria

Are you seeking financial remuneration from an individual or company located in Nigeria? Look no further!

Our firm has successfully recovered debt for hundreds of other organizations. Let us assist you and make your claim a reality today. Recovering an outstanding debt in Nigeria can appear daunting. Language, cultural roadblocks, different laws and customs, and the sheer remoteness of the location all pose substantial obstacles.

Debt recovery is significantly more efficient and effective when utilizing a collection agency that specializes in the laws and customs of the debtor's native country. At Debitura, our main concern is your wellbeing. We strive to restore your funds while preserving a respectful relationship with customers.

Our public relations strategy - though assertive – always safeguards your standing and reputation first! If you wish to independently discover the entire Nigerian debt collection process, this guide will help you do so without any difficulty; alternatively, we can also refer you to an experienced local firm for assistance in recovering debts.

New to debt collection?
The debt collection process can be complex and daunting for those new to it. Our team of experts is here to help you understand the process and navigate it with ease. Get free expert advice on your specific case, provided by our team of experienced professionals.

Getting the debt you're owed doesn't have to be complicated. At Debitura, we've made it easy and straightforward - simply upload your claim today and get started! Within 24 hours of submission, our team will review your case to give you three complimentary quotes from local Nigerian debt collection attorneys. With us leading the way, collecting what's yours has never been as effortless! By blending a customer-centric strategy with the newest cutting-edge technologies, we deliver incomparable outcomes while preserving crucial client relationships. Our end-to-end method ensures that you get the most out of your contact management process. Moreover, our valuable connections with debt collectors, attorneys, suppliers and vendors afford us the opportunity to competently accomplish whatever tasks we're presented. We appreciate each connection regardless of size or magnitude.

We work with the following process: 
1

Upload claim

Begin debt collection in Nigeria today at no cost. Easily create a free profile and submit your case in just two minutes.

2

Pre-legal

For the initial 3 months, we use our effective pre-legal recovery process to try to collect your debt. Our approach is no-cure-no-pay, guaranteeing you 100% success fee.

3

Legal

If your claim remains unpaid during the pre-legal phase, we offer you three quotes from our nearby debt collection lawyers.

4

24/7 updates

You get access to our online portal where you can track your case in real-time

Introduction to collecting debt in Nigeria

Does it seem like you're fighting a losing battle to collect debt in Nigeria? Put your worries aside, because we make receiving payment from Nigerian customers an effortless affair.

When attempting to recoup what is owed in Nigeria, the person responsible for paying a debt is referred to as “the debtor” while the individual who issued it or created an invoice is known as “the creditor.”

If the original lender personally collects on an owed debt, it is referred to as “first-party collection”.

When a creditor assigns the responsibility of collection to an outside entity, this is known as "third-party collections".

The debt collection process in Nigeria

The debt collection process in Nigeria usually happens in more than one step.

The image below explains our standard process for collecting debt in Nigeria:

The debt collection process in Nigeria here:

1 Upload your claim:

Unless you want to get your money back yourself, you will need to find a company that helps people get money back from other people. You will give them some information about the person you think owes you money. If you use Debitura, we will give you 3 quotes from companies in Africa that can help you. This service is free - there is no catch.

2 Amicable collection:

The collection process typically begins with sending reminders to the person who owes you money. The reminders are sent through email, text message, and letter. The goal is to get the debtor to pay or agree to a payment plan. Debitura offers a solution where you only have to pay a small success fee if the debt is collected, which means there is no risk for you!

3 Evaluation:

If you have not received payment from the debtor after trying to work it out, it is time to look at other options. We will look at the size of your claim, the chances of getting paid and other factors to help you decide what is the best next step. There are three typical next steps:

A Surveillance:

If your claim is for less than 2,000-5,000 euros, it may not be worth it to take any legal action. In this case, we recommend "debt surveillance." This means we will keep trying to contact the person you owe money to and try to agree on a plan to pay back the debt.

B: Legal collections:

If you're thinking about getting money from someone or a company because they owe it to you, it's best to start a legal case. But the way you do this depends on how much money you're trying to get, and the reason why you're trying to get it. In general, it takes between 1 and 1 1/2 years for a legal case to be finished.

C: Debt enforcement:

If the person you are owed money from has said that they will pay you or if there is a court order, you can go to the bailiff's court to get your money.

At Debitura, we can help you with all three steps in Nigeria.

“Debitura made our debt collection process in Nigeria so much easier. Their team of experienced professionals provided excellent service and helped us recover our debt quickly and efficiently.”
Ngozi Adekunle - Chief Financial Officer (CFO)
"Debitura saved us from a financial crisis with their top-notch debt recovery services in Nigeria. Their expert team facilitated the entire process, making it hassle-free and stress-free. We highly recommend!"
Abigail Ogunwole - Credit Control Officer
4.97/5
Average rating based on feedback from over 600 satisfied clients
87%
Average debt recovery rate, exceeding industry standards
100M+
Debt recovered for our clients in the past 18 months

Amicable collection in Nigeria

At Debitura, we guarantee a simple and risk-free process that will maximize your chances of successful Amicable collections. All you have to do is submit your claim - our team will get right on it within 24 hours!

Our team of debt collectors in Nigeria will connect with your debtor through all means possible, such as e-mail, SMS texts, letters, phone calls and social media.

The primary goals of this procedure are to:


A) collect the full amount owed by the debtor or 

B) have them acknowledge their debt and put in place a payment plan.

If your debt has been contested, you must forgo a peaceful resolution and start directly with legal collections rather.

Get started with
amicable debt collection

Upload your claim and get started with our 100% no-cure-no-pay collection solution.

100% free
Get the best price
No-cure-no-pay
Fast collection process
High recovery rate
100%
Risk free
Upload claim!

Debt enforcement in Nigeria

If you've obtained a written confirmation from the debtor or a court order, utilizing Nigeria's bailiff's court will help ensure your claim is enforced in the country.

Uncovering the exact process and cost of your specific case can be a tricky task. Make it easier on yourself by uploading your claim to Debitura! In just 24 hours, you'll have 3 customized quotes that fit all of your needs for free. Don't wait any longer - get started with Debitura today!

Get started with
debt enforcement

Upload your claim and get 3 FREE quotes from our local collection partners.

100% free
Get the best price
No-cure-no-pay
Fast collection process
High recovery rate
100%
Risk free
Upload claim!

Nigeria country risk profile

We have looked at Nigeria's critical financial data and extrapolated a risk assessment. You can use this analysis to classify your payment terms and manage your risk when doing business with customers in Nigeria.

Low risk
5-10
Medium-low risk
11-15
Medium risk
16-20
Medium-high risk
21-23
High risk
24-26
Low risk
5-10
Medium-low risk
11-15
Medium risk
16-20
Medium-high risk
21-23
High risk
24-26
Low risk
5-10
Medium-low risk
11-15
Medium risk
16-20
Medium-high risk
21-23
High risk
24-26
Low risk
5-10
Medium-low risk
11-15
Medium risk
16-20
Medium-high risk
21-23
High risk
24-26
Low risk
5-10
Medium-low risk
11-15
Medium risk
16-20
Medium-high risk
21-23
High risk
24-26

Our analysis has shown that the risk of doing business in Nigeria is medium-high. Based on this medium-high score, we recommend always charging upfront payment or using credit insurance when trading with customers in Nigeria, as it may be very difficult to get paid. The medium-high risk score is based on the following factors:

Economic Risk:
4
Economic Risk:
4
Economic Risk:
4
Economic Risk:
4
Economic Risk:
4
Economic Risk:
4
Business Risk:
6
Business Risk:
6
Business Risk:
6
Business Risk:
6
Business Risk:
6
Business Risk:
6
Political Risk:
5
Political Risk:
5
Political Risk:
5
Political Risk:
5
Political Risk:
5
Political Risk:
5
Commercial Risk:
4
Commercial Risk:
4
Commercial Risk:
4
Commercial Risk:
4
Financing Risk:
3
Financing Risk:
3
Financing Risk:
3
Financing Risk:
3

The economic risk in Nigeria

Our conclusion based on the economic risk factors, is that the economic risk in Nigeria is medium-high (4 out of 6). An economic risk of 4 out of 6 is low in Africa.

GDP and economic growth are critical drivers for economic risk.
The GDP of Nigeria is 440.78 bn. USD (2021), growing by 3.65% per year.

In terms of the size of its economy, Nigeria ranks #31 out of 183 countries and has a large economy.

Looking at the growth rate, it is ranked #112 out of 183 countries and is therefore considered an excellent growing economy.

GDP per capita is 2085 USD, ranking Nigeria number #135 out of 183 countries. The result of this is purchasing power of citizens in Nigeria is low compared to the rest of the world.

You can see a more detailed picture of GDP and economic growth in Nigeria in the table below:

GDP and economic growthLatest value
Economic growth: the rate of change of real GDP3.65%
Gross Domestic Product, billions of U.S. dollars440.78
GDP per capita, current U.S. dollars2085.03
GDP per capita, Purchasing Power Parity4969.22

Another critical driver for the economic risk score is the inflation rate and the interest rates. You can see a more detailed overview of monetary data points in Nigeria in the table below:

Monetary KPI'sLatest value
Inflation: percent change in the Consumer Price Index17%
Business credit interest rate, percent11.48%

The inflation in Nigeria was 17% in 2021 which is considered a very high inflation rate.

Businesses has an interest rate which is 11.48%.

The business environment risk in Nigeria

Our analysis shows that the business environment risk in Nigeria is very high (6 out of 6), which is a high risk score in Africa.

Economic freedom and rights has a big influence on the business environment risk in a country. You can see the critical facts for Nigeria in the table below:

Economic freedom indexLatest value
Property rights index (0-100)37
Freedom from corruption index (0-100)24
Fiscal freedom index (0-100)85
Business freedom index (0-100)60
Monetary freedom index (0-100)68
Trade freedom index (0-100)68
Investment freedom index (0-100)45
Financial freedom index (0-100)40
Economic freedom, overall index (0-100)59

As you can see in the table, the property rights index is 37 in Nigeria, which is considered low in Africa.

The business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study. The Index is 60 in Nigeria, a quite good score for a country in Africa.

Nigeria's overall economic freedom index is 59 out of 100 and is based on factors such as the rule of law, regulatory efficiency, and market openness.

The political risk in Nigeria

The political risk in Nigeria is high, with a score of 5/6. This is a pretty average political risk score in Africa.

The governance and political stability indicators are critical drivers for political risk. An overview of Nigeria can be seen in the table below:

Governance and political stability indicators Latest value
Rule of law index (-2.5 weak; 2.5 strong)-0.86
Government effectiveness index (-2.5 weak; 2.5 strong)-1
Control of corruption (-2.5 weak; 2.5 strong)-1.07
Political stability index (-2.5 weak; 2.5 strong)-1.78
Corruption Perceptions Index, 100 = no corruption24
Shadow economy, percent of GDP52.49%

The rule of law index analyses to which extent agents have confidence in and abide by the rules of society, in particular the quality of contract enforcement, property rights, the quality of the courts, and the police's ability to enforce court orders.

When trading with businesses in a country, the rule of law index is critical as it describes your ability to enforce commercial contracts.

In Nigeria, the rule of law index is at -0.86 points, with the score going from -2.5 (weak) to 2.5 (strong). Nigeria has, therefore, a very low rule of law index, which means it is often close to impossible to enforce your contracts. We, therefore, recommend avoiding credits and recommend charging upfront payment instead.

Other drivers for the high political risks are the very weak control of corruption, the very weak political stability index, and the very large shadow economy that is 52.49% of Nigeria's GDP.

The commercial risk in Nigeria

In Nigeria, the commercial risk score is 4/4, which in our model is a high score. This high commercial risk score is high compared to the average in Africa.

The commercial risk is influenced by a country's international trade relationships. You can see some of the key facts for Nigeria in the table below:

International trade and investment Latest value

Nigeria has a foreign exchange reserve of bn. USD.

The financing risk in Nigeria

We have calculated the financing risk to be 3/4, which equals a medium risk. A medium financing risk score is pretty average for countries in Africa.

The country's banking system, efficiency, and stability influence the financing risk. Additional facts and info can be found for Nigeria in the table below:

Banking system efficiency and stabilityLatest value
Interest rates on bank credit to the private sector11.48%
Real interest rate: Bank lending rate minus inflation1.23%
Index of legal rights for creditors and borrowers (0 = weak to 12 = strong)9
Credit information sharing index, 0 (low) - 8 (high)8

In Nigeria, the credit information sharing index is 8 on a scale from 0 (low) to 8 (high). The result of this is accessibility and quality of credit information available in Nigeria is high.

This makes it easy for you to understand the credit risk of your counterpart in Nigeria. You should therefore be able to find a good local credit rating agency that can help you analyse the creditworthiness of your specific customers.

Your legal rights as a creditor (and as a borrower) are 9 out of 12 and, therefore, strong.

The medium financing risk for creditors also impacts the high interest rate in the private sector of 11.48%.

Debt Collection in Nigeria: Frequently Asked Questions (FAQ)

How does debt collection work in Nigeria?

In Nigeria, debt collection can be done in two ways: "first-party collection" if the original lender collects the debt, or "third-party collections" if the responsibility is assigned to an outside entity. Our standard process includes uploading your claim, amicable collection, evaluation, and three typical next steps: debt surveillance, legal collections, or debt enforcement. Debitura can help with all three steps in Nigeria, and there is no risk as we only charge a small success fee if the debt is collected.

What is the debt collection process in Nigeria?

The debt collection process in Nigeria typically happens in three steps: pre-legal collection, legal debt collection, and debt enforcement. Pre-legal collection involves sending reminders to the debtor to encourage payment or a payment plan. Legal collection is initiated if the debtor does not respond or agree to a payment plan. This process takes between 1-1.5 years to be completed. Debt enforcement refers to going to the bailiff's court to get your money after a court order or agreement is in place. At Debitura, we can assist with all three steps of the process.

What legal options exist for debt collection in Nigeria?

If a debt is disputed in Nigeria, a civil lawsuit is required for legal collection. Additionally, debt enforcement and insolvency proceedings are available. It is important to hire a local lawyer to handle legal actions. Debitura offers 3 free quotes from our local debt collection attorneys to help negotiate payment with the debtor or to attain a payment order via Nigeria's legal system. The fees for legal collection will depend on the complexity of the case, so it is best to compare multiple lawyers before committing to one.

How much does debt collection cost in Nigeria?

Debt collection costs in Nigeria vary depending on the specific case and actions desired. At Debitura, we offer a no-cure-no-pay model for pre-legal collection with a success fee between 10-20%. For legal actions, we can provide you with 3 quotes from the best debt collection lawyers in Nigeria. Contact us to discuss your unique situation and pricing.

How long does debt collection take in Nigeria?

The duration of debt collection in Nigeria varies depending on the debtor and the case. If the matter can be resolved in the pre-legal phase, it typically takes between 3-6 months. However, if legal actions are required, the process can take longer, typically between 12-18 months. The duration is influenced by several factors such as the complexity of the case, the debtor's willingness to pay, and the number of legal processes that need to be completed.