The evolution of floating charges in Ghana, Kenya and Nigeria

Chike Emedosi

Chapter 3 in Floating Charges in Comparative Perspective, 2025, pp 109-150 from Edward Elgar Publishing

Abstract: This chapter provides a comprehensive analysis of the history and evolution of the law of floating charges in Ghana, Kenya and Nigeria. The chapter makes a number of important findings on the pre- and post-independence evolution of the charge in the focus jurisdictions. Regarding the pre-independence evolution, it demonstrates that while the principles of the floating charge and subsequent developments made by English case law were received in the stated jurisdictions by virtue of their reception statutes, the reception of statutory reforms was restricted by local circumstances. On the post-independence evolution, the chapter shows that the focus jurisdictions’ recent partial adoption of functional approaches to security rights has incorporated notable deviations from English law. However, the lack of coordination between these functional approaches and the English fragmented regime initially received creates problems in the operation of floating charges in the focus jurisdictions.

Keywords: Floating charges; Security rights; Secured transaction law reform in Africa; iFixed charges; Registration of charges; Priority of charges (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035317134
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