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|a 1343250060
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|a 9783031117404
|q (electronic bk.)
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|a 3031117409
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|z 9783031117398
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|a 10.1007/978-3-031-11740-4
|2 doi
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|a (OCoLC)1343197000
|z (OCoLC)1343250060
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|a HCDD
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|a Omede, Philemon Iko-Ojo,
|e author.
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|a Nigerian consumer credit :
|b law, regulation and market insights /
|c Philelon Iko-Ojo Omede.
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|a Cham :
|b Palgrave Macmillan,
|c [2022]
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|c ©2022
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|a 1 online resource (xxix, 326 pages) :
|b illustrations.
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|a text
|b txt
|2 rdacontent
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|a computer
|b c
|2 rdamedia
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|a online resource
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|a Palgrave Macmillan studies in banking and financial institutions
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|a Includes bibliographical references and index.
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|a This book critically reviews transnational banking regulations that specifically impact consumer lending in Africa's largest economy. It provides a comprehensive analysis on the politics and economics of financial sector consolidation in an emerging market in West Africa, also covering law, consumer credit, and consumer policy along with a discussion of banking sector reforms heavily influenced by the neoliberal economics paradigm. There have been several developments since the publication of the existing books especially in the area of regulatory theory and social protection that are captured in this book, which will be of interest to researchers, students, and scholars of banking regulation, development economics, and international finance. Philemon Iko-Ojo Omede is a lawyer who specialises in corporate and financial law. He is knowledgeable in the areas of credit markets, capital markets, competition law, and banking regulation especially in sub-Saharan Africa and emerging economies. He was called to the Nigerian Bar in 2013. He subsequently completed his LLM at the University of Glasgow and PhD in law at the University of Kent. Philemon also has a BSc degree in economics from Ahmadu Bello University, Zaria, Nigeria with First Class Honours.
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|a Online resource; title from PDF title page (SpringerLink, viewed September 16, 2022).
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|a Intro -- Preface -- Acknowledgments -- Contents -- Abbreviations -- List of Legislation -- List of Cases -- 1 Introduction -- 1.1 Background of the Study -- 1.2 Research Question -- 1.2.1 Neoliberalism -- 1.2.2 Consumer Credit/Debt -- 1.3 Significance of the Study -- 1.4 Research Methodology -- 1.4.1 Background to Interviews -- 1.4.1.1 Interview Sample -- 1.4.1.2 Sampling Technique and Limitations of Study -- 1.4.2 Summary of Interview Findings -- 1.5 Overview of Book -- 2 Rationale for Consumer Credit Regulation -- 2.1 The Utility of Consumer Credit -- 2.2 The Schools of Thought
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|a 2.2.1 Credit as Lubricant: The Permanent Income Hypothesis Theory (PIH) -- 2.2.2 The PIH and Consumer Borrowing in Nigeria -- 2.2.2.1 Future Incomes Will Continue to Grow -- 2.2.2.2 Demand for Credit Is a Choice -- 2.2.2.3 There Is an Endless Pool of Lenders to Borrow From -- 2.3 Consumer Credit as a Perilous Product -- 2.3.1 Consumer Credit Hurts More Than It Helps Low-Income Consumers -- 2.3.2 Consumer Credit as a Smokescreen for Rolling Back the Welfare State -- 2.3.3 Consumer Credit Distorts Resource Allocation Within the Economy -- 2.4 Rationale for Regulating Consumer Credit
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|a 2.4.1 Market Construction -- 2.4.2 Correcting Market Failures -- 2.4.2.1 Monopoly and Coordination -- 2.4.2.2 Information Failures -- 2.4.2.3 Credit Rationing and Adverse Selection -- 2.4.2.4 Moral Hazard -- 2.4.3 Prevention of Systemic Risk and Externalities -- 2.4.4 Behavioural Economics (BE) -- 2.4.4.1 Hyperbolic Discounting -- 2.4.4.2 Overconfidence -- 2.4.4.3 Framing Effects and Status Quo Bias -- 2.5 A Human Right Rationale for Consumer Credit Regulation -- 2.5.1 Economic Rights and Human Capability -- 2.5.2 Consumer Credit as a Human Capability -- 2.5.2.1 A Right to Consumer Credit
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|a 2.5.2.2 Consumer Protection as a Human Right -- 2.5.3 An American Case Study: The Community Reinvestment Act 1977 -- 2.6 Summary -- 3 Sources of Consumer Credit Regulation in Nigeria -- 3.1 An Overview of the Nigerian Legal System -- 3.1.1 Statutory Law -- 3.1.2 Case Law/Common Law -- 3.1.3 International Law -- 3.2 Legislative Sources of Consumer Credit Regulation in Nigeria -- 3.2.1 Market-Wide Regulation/Legislation -- 3.2.1.1 The Central Bank of Nigeria Act 2007 -- 3.2.1.2 Banks and Other Financial Institutions Act 2020 -- 3.2.1.3 Corporate and Allied Matters Act 2020
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|a 3.2.1.4 The Asset Management Corporation of Nigeria Act (as Amended) 2010 (AMCON) -- 3.2.1.5 The Credit Reporting Act 2017 -- 3.2.1.6 The Secured Transaction in Movable Assets Act 2017 ('STMA') -- 3.2.1.7 Federal Competition and Consumer Protection Act (FCCPA) 2018 -- 3.2.1.8 Arbitration and Conciliation Act LFN 2004 -- 3.2.1.9 Sheriff and Civil Process Act LFN 2004 -- 3.2.1.10 Investment and Securities Act 2007 -- 3.2.1.11 Evidence Act 2011 -- 3.3 The Structure of Lending in Nigeria -- 3.4 Formal Sector -- 3.4.1 Commercial Banks -- 3.4.2 Microfinance Institutions -- 3.5 Semi-Formal Sector
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|a Consumer credit
|z Nigeria.
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|a Consumer credit
|x Law and legislation
|z Nigeria.
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|a Consumer credit
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|a Consumer credit
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|a Nigeria
|2 fast
|1 https://id.oclc.org/worldcat/entity/E39PBJcWvf9xXVHQKFTDpVGCQq
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| 776 |
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8 |
|c Original
|z 3031117395
|z 9783031117398
|w (OCoLC)1331705516
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| 830 |
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|a Palgrave Macmillan studies in banking and financial institutions.
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| 856 |
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|u https://holycross.idm.oclc.org/login?auth=cas&url=https://link.springer.com/10.1007/978-3-031-11740-4
|y Click for online access
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|a SPRING-ECON2022
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|a 92
|b HCD
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