Senate concurs on receivables financing bill to boost MSMEs, unlock trade credit

The Senate on Wednesday concurred with the House of Representatives on the Factoring Assignment and Receivables Financing Bill, 2026, a measure aimed at expanding access to finance for Micro, Small and Medium Enterprises, MSMEs, and deepening domestic and international trade.
The bill seeks to establish a legal and regulatory framework for debt factoring, a financing arrangement that allows businesses to convert unpaid invoices and credit sales into immediate cash.
Leading debate on the piece of legislation, the Senate Leader, Senator Opeyemi Bamidele, said the legislation would create an enabling environment for alternative financing mechanisms and strengthen liquidity for businesses...