Unmasking the Invisible: A Comprehensive Guide to Trace Hidden Assets for Debt Recovery in Nigeria

Introduction: The Elusive Debtor and the Quest for Justice

“Where did the money go?” This is the exasperated cry of many creditors in Nigeria, facing the frustrating reality of a debtor who seemingly has no assets, yet once possessed significant wealth. Debt recovery, even under normal circumstances, can be a daunting task. But when debtors deliberately hide or dissipate their assets to evade payment, the challenge escalates to a whole new level. This isn’t just about recovering money; it’s about upholding the sanctity of contracts, maintaining financial integrity, and ensuring that justice prevails.

In Nigeria’s dynamic economic landscape, characterized by both immense opportunities and significant risks, the issue of hidden assets for debt recovery is particularly pertinent. From sophisticated financial schemes to simpler attempts at concealment, debtors employ various tactics to shield their wealth. For creditors – whether individuals, small businesses, large corporations, or financial institutions – understanding how to effectively trace these hidden assets is not just beneficial; it’s often the only path to recovering what is rightfully owed.

This comprehensive guide will unravel the complexities of asset tracing in Nigeria, providing a deep dive into the legal framework, practical strategies, investigative techniques, and the vital role of technology and professional expertise. We’ll explore common challenges, ethical considerations, and even touch upon international dimensions, ensuring that no stone is left unturned in your quest to unmask the invisible and secure debt recovery.

So, are you ready to embark on this journey of discovery and reclaim your financial due? Let’s begin.

Section 1: The Nigerian Debt Recovery Landscape – Understanding the Foundation

Before we delve into the intricate art of asset tracing, it’s crucial to grasp the broader legal and practical context of debt recovery in Nigeria. This understanding forms the bedrock upon which all asset tracing efforts are built.

1.1 The Legal Framework for Debt Recovery in Nigeria

Nigeria’s legal system, rooted in English common law, provides a robust framework for debt recovery. Key legislations and principles include:

• Contract Law: At its core, debt recovery often stems from a breach of contract. Nigerian contract law, largely based on common law principles, defines the rights and obligations of parties in agreements and provides remedies for breaches, including the recovery of outstanding debts.
• Civil Procedure Rules: Each state in Nigeria has its own Civil Procedure Rules, which govern the process of initiating debt recovery actions in court, including filing claims, presenting evidence, and obtaining judgments. These rules dictate the procedural steps for a successful legal claim.
• Companies and Allied Matters Act (CAMA) 2020: For corporate entities, CAMA is particularly relevant. It outlines procedures for debt recovery against companies, including insolvency and bankruptcy proceedings. Importantly, CAMA allows creditors to register charges over debtors’ assets, creating a security interest that can be enforced upon default.
• Bankruptcy Act and Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act: These acts provide frameworks for dealing with insolvent debtors, enabling creditors to recover debts through structured processes, often involving the liquidation of assets and distribution among creditors.
• Central Bank of Nigeria (CBN) Guidelines: The CBN issues regulations, particularly for financial institutions, on debt recovery systems and procedures, emphasizing the need for effective mechanisms to recover non-performing loans.
• Proceeds of Crime Act (POCA) 2022: While primarily aimed at combating corruption and illicit financial flows, POCA is a significant tool for asset recovery. It allows for both conviction-based and non-conviction based forfeiture of assets derived from criminal activities. This Act shifts the focus to the illicit proceeds themselves, empowering law enforcement and agencies to trace, freeze, and recover assets without necessarily securing a criminal conviction first.
• Relevant Court Judgments: Precedent-setting court judgments continually shape the interpretation and application of these laws, offering valuable insights into successful debt recovery and asset tracing strategies.

Interactive Element:

• Have you ever initiated a debt recovery process in Nigeria? What was your initial approach? Share your experiences in the comments below!

1.2 Stages of Debt Recovery and the Role of Asset Tracing

Debt recovery typically follows a series of stages, and asset tracing becomes increasingly critical as the process progresses:

1. Pre-Litigation (Demand & Negotiation): The initial step usually involves sending formal demand letters to the debtor, clearly stating the amount owed, the basis of the debt, and the consequences of non-payment. Negotiations for payment plans or settlements may follow. At this stage, preliminary asset intelligence can inform negotiation strategies.
2. Litigation (Court Action): If pre-litigation efforts fail, legal action is initiated. This involves filing a claim in court, presenting evidence, and obtaining a judgment against the debtor.
3. Judgment Enforcement: This is where asset tracing becomes paramount. A court judgment, while a victory, is merely a piece of paper if the debtor has no visible assets to satisfy it. Enforcement mechanisms under Nigerian law include:
   • Writ of Fieri Facias (Fi.Fa.): Allows for the seizure and sale of a debtor’s movable and, subsequently, immovable property to satisfy the judgment debt.
   • Garnishee Proceedings: A powerful tool where a judgment creditor can obtain an order to compel a third party (the “garnishee”), such as a bank, who owes money to the judgment debtor, to pay that money directly to the judgment creditor. This is particularly useful for hidden bank accounts.
   • Writ of Attachment/Sequestration: Orders the attachment of a debtor’s assets (movable and immovable) to secure a debt, often before judgment is given, to prevent dissipation.
   • Bankruptcy/Winding-Up Proceedings: For individuals or companies, respectively, these proceedings can lead to the liquidation of the debtor’s assets to distribute among creditors.
   • Judgment Summons: An order for the debtor to appear in court to explain their inability to pay, potentially leading to an order for payment by installments or even imprisonment in certain circumstances (though this is rare for civil debts).

The undeniable truth: Without effective asset tracing, the enforcement of judgment can be a futile exercise, leaving creditors with a paper victory and no actual recovery. Asset tracing, therefore, is not an afterthought but an integral component of a successful debt recovery strategy.

Section 2: Why Do Debtors Hide Assets? Understanding the Motivation

To effectively trace hidden assets, it’s essential to understand the motivations and common strategies debtors employ to conceal their wealth. This insight allows creditors to anticipate moves and tailor their tracing efforts.

2.1 Common Motivations for Hiding Assets

Debtors hide assets for a variety of reasons, often driven by a desire to evade financial obligations:

• Evading Debt Payment: The most obvious reason – to avoid paying what they owe.
• Protecting Wealth from Creditors: Shielding personal or corporate wealth from seizure.
• Defrauding Creditors: In some cases, it’s a deliberate act of fraud, aiming to deceive creditors about their true financial position.
• Maintaining Lifestyle: Continuing to enjoy a certain lifestyle without being forced to liquidate assets.
• Pre-emptive Measures: Some debtors begin hiding assets even before a formal debt recovery process commences, anticipating future claims.

2.2 Typical Methods of Concealment in Nigeria

Debtors in Nigeria, like elsewhere, use both simple and sophisticated methods to hide assets. These can include:

• Transferring Assets to Relatives or Associates: Gifting or selling assets (real estate, vehicles, shares) to spouses, children, friends, or business partners at undervalued rates, or even as fictitious sales.
• Offshore Accounts and Investments: Moving funds to foreign bank accounts or investing in assets held in offshore jurisdictions, often in countries with strict financial secrecy laws.
• Shell Companies and Nominee Directors: Establishing opaque corporate structures, often with nominee directors and shareholders, to obscure beneficial ownership of assets. This is a common tactic to distance themselves from direct ownership.
• Undisclosed Bank Accounts: Operating multiple bank accounts, some of which are not declared or are held under different names.
• Cash Transactions and Untraceable Assets: Dealing heavily in cash to avoid a digital footprint, or acquiring highly liquid, untraceable assets.
• Fictitious Debts and Loans: Creating false debts or loans to favored parties to reduce the apparent value of their assets or to justify transferring funds.
• Concealed Property: Undisclosed real estate, luxury vehicles, art, jewelry, or other high-value movable assets kept off the official radar.
• Cryptocurrencies and Digital Assets: The increasing adoption of cryptocurrencies presents a new frontier for asset concealment, as these can be transferred and held with a high degree of anonymity.
• Under-Valuation of Assets: Deliberately undervaluing assets during financial disclosures to minimize their perceived worth.
• Asset Dissipation through “Lavish Spending”: While not strictly “hiding,” debtors might engage in excessive spending or make large, unaccounted-for withdrawals to reduce their available funds.

Interactive Element:

• Have you encountered any specific, clever ways debtors have tried to hide assets in Nigeria? Share your insights to help others recognize these patterns.

Section 3: The Art of Investigation – Tracing Hidden Assets, Step by Step

Now, let’s get into the practical “how-to” of asset tracing. This section outlines a structured approach, combining traditional investigative techniques with modern tools.

3.1 Initial Assessment and Information Gathering

The tracing process begins with a thorough understanding of the debtor and the debt.

• Review All Available Documentation: Scrutinize contracts, invoices, loan agreements, financial statements, emails, and any communication related to the debt. Look for inconsistencies, payment patterns, and clues about the debtor’s financial habits and potential asset holdings.
• Open Source Intelligence (OSINT): The internet is a treasure trove of information.
  • Social Media: Public profiles can reveal lifestyle, associations, businesses, and even locations.
  • News Articles and Public Records: Search for news mentions, business registrations, property advertisements, and public announcements that might shed light on the debtor’s financial activities or interests.
  • Professional Networks: LinkedIn and other professional platforms can reveal current and past employment, business ventures, and key contacts.
• Interviews and Informant Networks: Discreetly interviewing former employees, business partners, or even disgruntled associates of the debtor can yield invaluable insights. This requires careful and ethical execution to avoid illegal actions.
• Financial Due Diligence: Conduct background checks on the debtor, their businesses, and key associates.

3.2 Key Areas of Investigation and Specific Techniques

3.2.1 Real Estate

Real estate is often a significant asset and can be challenging to hide entirely, though ownership can be obscured.

• Land Registry Search: Conduct searches at the relevant State Land Registries (Bureau of Lands). While direct searches by name can be difficult if the property is not registered in the debtor’s name, cross-referencing addresses or known areas of interest can be fruitful.
• Corporate Affairs Commission (CAC) Search: Check if the debtor owns companies that, in turn, own properties. Search for directors and shareholders of companies linked to the debtor.
• Physical Surveillance/Site Visits: For suspected properties, discreet physical observation can confirm occupancy, level of maintenance (suggesting active ownership), and potential tenants.
• Utility Bills and Tax Records: Information from utility providers (electricity, water) or property tax records, if accessible, can link individuals to specific properties.
• Public Announcements/Advertisements: Monitor real estate listings, auction notices, or development plans that might inadvertently reveal a debtor’s property holdings.

3.2.2 Bank Accounts and Financial Instruments

These are the most common targets for debt recovery, but also the most frequently concealed.

• Garnishee Proceedings: As mentioned, this is a powerful legal tool. However, it requires knowing which bank the debtor uses.
• Court Orders for Disclosure: Courts can order banks to disclose information about a debtor’s accounts, but this typically requires reasonable suspicion and can be a post-judgment step.
• Financial Intelligence Unit (FIU) / EFCC / ICPC Collaboration: In cases involving suspected financial crimes, illicit financial flows, or corruption, agencies like the Nigerian Financial Intelligence Unit (NFIU), Economic and Financial Crimes Commission (EFCC), and Independent Corrupt Practices and Other Related Offences Commission¹ (ICPC) have significant powers to trace financial transactions and seize assets. While not directly accessible for private debt recovery, their investigations can sometimes inadvertently reveal information relevant to your case if criminal elements are involved.
• Forensic Accounting: A crucial technique for unraveling complex financial transactions. Forensic accountants analyze bank statements, ledgers, invoices, and other financial records to:
  • Follow the Money Trail: Identify unusual transfers, large withdrawals, patterns of payments, and diversions of funds.
  • Lifestyle Audits: Compare the debtor’s reported income and known expenses with their apparent lifestyle to identify discrepancies that could point to hidden income or assets.
  • Reconstruct Financial Activities: Piece together fragmented financial data to build a complete picture of the debtor’s financial movements.
  • Identify Shell Companies and Nominee Accounts: Detect structures designed to obscure beneficial ownership.

3.2.3 Vehicles, Vessels, and Aircraft

• Vehicle Registration Databases: Search relevant state motor vehicle registries or federal agencies for vehicle ownership.
• NCAA (Nigerian Civil Aviation Authority) for Aircraft Registration: For aircraft, although less common for typical debt recovery, the NCAA is the regulatory body.
• NIMASA (Nigerian Maritime Administration and Safety Agency) for Vessel Registration: For vessels, NIMASA registers ships and boats.
• Insurance Records: If you can obtain information about a debtor’s insurance policies, they may list insured assets.

3.2.4 Business Interests and Shares

• Corporate Affairs Commission (CAC) Search: Absolutely essential. Search for companies where the debtor is a director, shareholder, or secretary. Request certified true copies of company documents, including shareholding structures and annual returns.
• Industry Directories and Professional Associations: These can reveal business affiliations.
• Subsidiary and Affiliate Relationships: Investigate if the debtor has interests in other companies through complex corporate structures.

3.2.5 Intellectual Property

• Nigerian Copyright Commission (NCC) and Trademarks, Patents and Designs Registry: Search for registered intellectual property (trademarks, patents, copyrights) owned by the debtor or their associated entities.

3.2.6 Other Movable Assets

• Art and Collectibles: Often purchased for their value and ease of transfer. Requires specialized expertise to trace.
• Luxury Goods: Jewelry, high-end watches, designer items – these can be sold to recover some value.
• Cryptocurrencies and Digital Wallets: This is a rapidly evolving area. Tracing crypto assets is challenging due to their decentralized and often pseudonymous nature, but specialized blockchain analysis tools are emerging.

3.3 The Power of Technology in Asset Tracing

Technology has revolutionized asset tracing, making it more efficient and accurate.

• Data Analytics and Big Data: Tools that can process vast amounts of data (financial transactions, public records, social media) to identify patterns, anomalies, and connections that human investigators might miss.
• Artificial Intelligence (AI) and Machine Learning (ML): AI algorithms can learn from past fraud cases and predict potential asset-hiding strategies, automating aspects of the investigative process.
• Blockchain Analysis Tools: For cryptocurrencies, these tools help trace transactions on public ledgers, even if the owner’s identity is initially unknown.
• Digital Forensics: Extracting information from electronic devices (computers, phones, hard drives) – a technique typically used in criminal investigations but can be relevant in civil cases with proper court orders.
• Geographic Information Systems (GIS): Can be used to map and analyze property holdings and related spatial data.

Interactive Element:

• Which technological tool do you believe holds the most promise for asset tracing in Nigeria, and why?

Section 4: Legal and Ethical Considerations in Asset Tracing

While the pursuit of justice is paramount, asset tracing must always operate within the confines of the law and ethical principles. Ignoring these can jeopardize your case and lead to severe penalties.

4.1 Staying Within the Bounds of the Law

• Privacy Laws: Nigeria has data protection regulations (e.g., Nigeria Data Protection Act 2023). Any collection or processing of personal data during asset tracing must comply with these laws, ensuring you have a lawful basis for obtaining and using information.
• Trespass and Unlawful Entry: Physical surveillance must be conducted legally, without trespassing on private property or engaging in unlawful entry.
• Wiretapping and Electronic Surveillance: These are highly regulated and generally require specific court orders. Engaging in such activities without proper authorization is illegal.
• Misrepresentation and Deception: While some investigative techniques involve discreet inquiries, outright misrepresentation or deception to obtain information can be illegal and undermine the credibility of your findings in court.
• Bribery and Corruption: Offering or accepting bribes to obtain information or influence officials is a criminal offense and will severely prejudice your case.
• Compliance with Court Orders: Any information obtained through court orders (e.g., for bank disclosures) must adhere strictly to the terms of the order.

4.2 Ethical Conduct and Professional Standards

• Confidentiality: Maintaining the confidentiality of sensitive information gathered during the investigation is crucial.
• Objectivity: Investigators must remain objective, presenting facts and findings without bias.
• Due Diligence on Sub-Contractors: If you engage third-party investigators or forensic accountants, ensure they adhere to the highest ethical and professional standards.
• Avoiding Conflicts of Interest: Professionals involved in asset tracing should avoid any conflicts of interest that could compromise their impartiality.
• Admissibility of Evidence: Evidence gathered must be obtained legally and ethically to be admissible in court. Illegally obtained evidence can be rejected, wasting time and resources.

Interactive Element:

• How do you balance the need for thorough investigation with the ethical responsibility to respect privacy during asset tracing? What are your personal boundaries?

Section 5: The Role of Professionals – When to Call in the Experts

Asset tracing, particularly for complex cases, is rarely a DIY endeavor. The involvement of experienced professionals significantly increases the chances of success.

5.1 Legal Practitioners (Debt Recovery Lawyers)

• Understanding the Legal Landscape: Lawyers provide crucial guidance on the legal framework, permissible investigative methods, and the appropriate court procedures for obtaining orders and enforcing judgments.
• Drafting Legal Documents: Preparing demand letters, court applications, affidavits, and other necessary legal documents.
• Representing in Court: Arguing your case, obtaining necessary court orders (e.g., garnishee orders, orders for disclosure), and navigating the complexities of litigation.
• Enforcement of Judgments: Initiating and managing the various judgment enforcement procedures.

5.2 Forensic Accountants

• Specialized Financial Analysis: Forensic accountants are adept at analyzing complex financial records to uncover hidden assets, reconstruct financial flows, and identify fraudulent transactions.
• Expert Witness Testimony: They can provide expert testimony in court, explaining their findings in a clear and compelling manner, which is often critical in cases involving financial concealment.
• Lifestyle Audits: Conducting detailed lifestyle audits to identify discrepancies between declared income/assets and observed spending patterns.

5.3 Private Investigators

• Field Investigations and Surveillance: Conducting discreet inquiries, verifying information, and performing physical surveillance (within legal limits) to gather intelligence on the debtor’s movements, associates, and potential asset locations.
• Public Record Searches: Expertise in navigating various public databases and registries to uncover relevant information.
• Skip Tracing: Locating debtors who have gone into hiding.

5.4 Collaboration is Key

Effective asset tracing often requires a collaborative approach involving all these professionals. Lawyers guide the legal strategy, forensic accountants crunch the numbers, and private investigators gather field intelligence. Their combined expertise provides a holistic and powerful approach to unmasking hidden assets.

Section 6: Overcoming Challenges and Maximizing Success

Asset tracing in Nigeria presents unique challenges. Addressing these proactively can significantly improve your chances of success.

6.1 Common Challenges in Nigeria

• Lack of Centralized Databases: Unlike some developed countries with highly integrated and easily accessible public records, Nigeria’s lack of centralized, digitized, and interconnected databases (e.g., land registries, vehicle registrations) can make tracing more cumbersome.
• Bureaucracy and Manual Processes: Many government agencies and registries still rely on manual processes, leading to delays and potential inefficiencies in information retrieval.
• Corruption: The unfortunate reality of corruption can impede investigations, particularly when dealing with public officials or agencies.
• Debtor Sophistication: Debtors, especially those with significant resources, often employ sophisticated methods of concealment, including using offshore structures and complex financial instruments.
• Cross-Border Asset Concealment: When assets are moved outside Nigeria, international cooperation becomes essential but can be slow and complex.
• Cost of Investigation: Thorough asset tracing can be expensive, involving legal fees, forensic accounting services, and investigative costs. Creditors must weigh the potential recovery against the cost of tracing.
• Statute of Limitations: There is a six-year statute of limitations for recovering debts arising from contracts in Nigeria. Claims must be initiated within this timeframe, adding urgency to the tracing process.

6.2 Strategies for Maximizing Success

• Act Swiftly: The earlier you begin asset tracing, the better. Assets are easier to trace before they are further dissipated or moved.
• Comprehensive Due Diligence: Thoroughly investigate the debtor’s background, business dealings, and financial history from the outset.
• Secure Interim Orders: Before judgment, explore options for interim injunctions (e.g., Mareva injunctions or Anton Piller orders) to freeze assets or allow for the seizure of evidence, preventing further dissipation.
• Focus on High-Value Assets: Prioritize tracing efforts on assets that, if recovered, would significantly cover the debt.
• Patience and Persistence: Asset tracing is often a marathon, not a sprint. It requires patience, persistence, and a methodical approach.
• Leverage Technology: Utilize data analytics and other technological tools to enhance efficiency and uncover hidden patterns.
• Strategic Use of Legal Tools: Work with your lawyer to strategically employ legal tools like garnishee orders and orders for disclosure at the opportune moment.
• Consider Civil Forfeiture (where applicable): In cases involving proceeds of crime, civil forfeiture provisions under POCA can be powerful, as they do not require a prior criminal conviction.

Interactive Element:

• What do you think is the biggest hurdle to effective asset tracing in Nigeria, and what innovative solutions could address it?

Section 7: International Dimensions of Asset Tracing

In an increasingly globalized world, debtors often move assets across borders. Understanding the international landscape is crucial for comprehensive asset recovery.

7.1 Cross-Border Concealment Tactics

• Offshore Jurisdictions: Utilizing tax havens or jurisdictions with strict banking secrecy laws to stash funds.
• Complex Corporate Structures: Establishing layers of companies in different countries to obscure beneficial ownership.
• International Wire Transfers: Moving large sums of money through multiple international accounts to complicate the money trail.

7.2 Mechanisms for International Cooperation

• Mutual Legal Assistance Treaties (MLATs): Nigeria has MLATs with several countries, facilitating cooperation in criminal matters, including asset recovery. However, these are often limited to criminal cases and can be slow.
• Bilateral Agreements and Information Sharing: Cooperation between law enforcement agencies and financial intelligence units across borders can lead to information sharing, but this is usually for specific investigations.
• Foreign Judgments Enforcement: Nigerian law allows for the registration and enforcement of foreign judgments, and vice versa, provided certain conditions are met. This means a judgment obtained in Nigeria might be enforceable against assets in another country, and a foreign judgment can be enforced against assets in Nigeria.
• International Asset Recovery Networks: Organizations and networks exist to facilitate international asset recovery, though primarily in the context of combating corruption and illicit financial flows.

7.3 Challenges in Cross-Border Tracing

• Jurisdictional Differences: Varying legal systems, disclosure laws, and court procedures across countries can complicate tracing efforts.
• Cost and Time: International investigations are typically more expensive and time-consuming.
• Sovereignty and Political Will: The willingness of foreign governments to cooperate can vary, influenced by political relations and their own legal frameworks.

Interactive Element:

• If you suspect assets are hidden offshore, what would be your very first step in trying to get information?

Section 8: Concluding Thoughts – A Path to Recovery and a Call to Action

Tracing hidden assets for debt recovery in Nigeria is a complex, multi-faceted undertaking that demands a strategic blend of legal acumen, investigative prowess, technological utilization, and unwavering persistence. It is not for the faint of heart, but for those committed to recovering what is owed, it is an indispensable pursuit.

The journey we’ve explored highlights several critical takeaways:

1. Preparation is Paramount: A thorough understanding of the Nigerian legal framework for debt recovery and a meticulous initial assessment of the debtor are foundational.
2. Strategic Investigation: Combining traditional investigative methods with modern technological tools is key to uncovering the diverse ways assets are hidden.
3. Professional Expertise is Non-Negotiable: Engaging experienced legal practitioners, forensic accountants, and reputable private investigators significantly enhances your chances of success. Their specialized knowledge and networks are invaluable.
4. Adherence to Law and Ethics: Operating strictly within legal and ethical boundaries is not just a moral imperative but a practical necessity to ensure the admissibility of evidence and the legitimacy of the recovery process.
5. Patience and Persistence Pay Off: Asset tracing is often a protracted battle. The ability to remain patient, adapt strategies, and persist through challenges is crucial.
6. Prevention is Better Than Cure: While this guide focuses on recovery, it subtly underscores the importance of robust due diligence before extending credit or engaging in significant financial transactions. Knowing your counterparty can mitigate future debt recovery headaches.

A Call to Action:

For creditors in Nigeria, facing the challenge of hidden assets, the message is clear: do not give up. While the path may be arduous, the tools, expertise, and legal avenues exist to unmask the invisible and secure justice.

If you are currently grappling with a defaulting debtor and suspect concealed assets, take the following steps:

• Consult with a Specialist Debt Recovery Lawyer: Seek legal advice early to understand your options and develop a tailored strategy.
• Consider a Forensic Accountant: If the financial dealings appear complex, a forensic accountant can provide the clarity needed to trace the money.
• Evaluate Investigative Services: A reputable private investigator can assist with intelligence gathering and field inquiries.

Remember, the fight against hidden assets is not just about individual recovery; it contributes to strengthening the integrity of Nigeria’s financial and legal systems. By diligently pursuing these claims, you are helping to deter future attempts at evasion and foster a more accountable business environment.

The truth is out there, even if it’s cleverly concealed. With the right approach and the right team, you can shine a light on hidden assets and pave the way for successful debt recovery.

Interactive Element:

• What one piece of advice would you give to someone just starting the process of tracing hidden assets for debt recovery in Nigeria? Share your wisdom!