|
Listen to article
|
The Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) has pledged to rescue financially distressed public, private, corporate, and state-owned enterprises across Imo State and the wider South-East region.
The commitment was made on Thursday by BRIPAN President, Mr. Chimezie Ihekweazu, during the association’s South-East Insolvency Summit held in Owerri. The summit, themed “Deploying Insolvency and Restructuring Tools for Government and Public Enterprise,” focused on leveraging modern insolvency and business rescue strategies to strengthen struggling institutions.
Ihekweazu, a Senior Advocate of Nigeria (SAN), highlighted the strategic importance of the South-East, describing it as one of the country’s most vibrant commercial corridors, rich in enterprise, innovation, and economic activity. He noted that Imo State, home to the world’s largest deposit of natural gas, requires structured interventions to harness its economic potential effectively.
“The South-East presents both immense opportunities and complex challenges,” Ihekweazu said. “Government entities at federal, state, and local levels manage key public services, utilities, infrastructure, and revenue-generating enterprises, many of which face financial distress and operational inefficiencies. Modern insolvency and restructuring mechanisms can provide the solutions needed to restore growth and effectiveness.”
Read also: $1 Trillion Economy Goal Set At Imo Summit, Uzodinma Says
He also emphasized BRIPAN’s national reach, noting that the association now operates in all six geopolitical zones of Nigeria. The organisation boasts more than 2,100 registered members, including lawyers, accountants, and financial experts, with an additional 150 candidates currently undergoing professional training.
The two-day summit was officially opened by Imo State Deputy Governor, Lady Chinyere Ekomaru, who assured participants of the state’s support and readiness to collaborate with BRIPAN. She expressed regret that Governor Hope Uzodimma could not attend in person due to unavoidable commitments.
The summit underlined the potential for structured insolvency and business rescue frameworks to not only stabilise distressed enterprises but also to enhance the South-East’s broader economic development and investment appeal.
