Juliet Jacob 
ABUJA, Nigeria – The Federal Government has moved to tighten oversight of Nigeria’s leasing sector by mandating registration with the Equipment Leasing Registration Authority (ELRA) for firms seeking public contracts, in what officials describe as a decisive step toward curbing financial leakages and strengthening accountability in public procurement.
Announcing the directive during a courtesy visit to the Bureau of Public Procurement (BPP), ELRA Registrar/CEO, Mr. Donald Wokoma, on Saturday, stressed that the regulation is designed to close loopholes exploited by unregistered leasing companies and to safeguard taxpayer resources.
“We must ensure that only duly registered and compliant leasing firms are allowed to operate, especially where public funds are involved. This is about enforcing the law, protecting public interest, and fostering professionalism within the industry,” Wokoma said.
The policy requires all leasing firms to secure an ELRA registration certificate before bidding for or executing public sector contracts, effectively shutting out operators that fail to meet regulatory standards. Analysts believe the measure could strengthen the credibility of public-private partnerships, while also limiting opportunities for fraud in government contracting.
To enforce the directive, ELRA and BPP inaugurated a seven-member joint strategy and implementation committee, tasked with delivering a position paper within two weeks. The document will outline compliance mechanisms, define stakeholder responsibilities, and align the reforms with provisions of the Public Procurement Act.
BPP Director-General, Dr. Adebowale Adedokun, underscored the governance value of the move, noting its potential to elevate transparency in leasing transactions.
“This step will enhance transparency in public leasing transactions and ensure procurement processes are carried out strictly in line with the law,” Adedokun said.
About the Author
Chukwu Obinna 
Otamere Gladness 
Oluwafunbi Bello 