Debt collection services are mostly provided by debt collection agencies. And various debt collection agencies carry out different means and solutions in order to recover debt successfully. Debt recovery specialists engage in the debt collection service which deals with retrieving bad debts or delinquent amount that is owed to the clients of the debt recovery agency. A high number of creditors seek the services of a debt collection agency after they must have tried to recover the debts on their own and it didn’t go the way they wanted or it was not successful.

Matthew Ogagavworia & Company is a debt recovery specialist situated in Lagos with over 12 years of experience in dealing recovering the debts of its clients. Our organization is managed by team of specialized debt collectors. We provide our services to different sectors and industries

Collecting debt in Nigeria may seem very difficult and challenging, but we ensure that we try as much as possible to aid our clients in recovering their debts. Our recovery process is cost effective and it is based on a ‘’No recovery, No pay’’ basis. After we have carried out different processes in helping you to recover your debt, we will only collect a fee or commission from the total debt that was recovered.

The process of debt recovery has less burden and it is most effective when a debt collection agency is used. At Matthew Ogagavworia & Company, we are a debt recovery specialist that have a good understanding of the behaviour of various Nigerian business men which aids us in setting various strategies that will ensure that your trapped funds are gotten.

Debt Recovery Information Required

When dealing with our client’s debt recovery process, the following details should be provided

  • The address of the person owing you (the debtor)
  • The amount that is owed by the debtors
  • The span or age of the debt
  • A copy of the evidences showing the contract agreement
  • A copy of any acknowledgement email or correspondence from the debtor where he/she/it confirms to undertake the debt
  • Any issues you and the debtor that may be of advantage to the debtor by allowing him to avoid liability. Such issues includes supplying goods of substandard quality, goods arriving late or goods having incorrect specifications. Although some of these issues may not be true on the part of the debtor. You will need to disclose them to us in order to be able to counter them



According to the Secured transactions in movable assets act, If the credit transaction you had signed with borrower was under the Secured Transactions in Movable Assets Act, 2017, all that is required in case of default by a borrower is for you to give the borrower and the Grantor a notice of the default and intention to repossess the collateral in writing. You may, 10 days after sending the notice of default to take possession of the collateral; or render the collateral inoperative. You may repossess a collateral either pursuant to judicial process; or without judicial process, if the Grantor consented to relinquish possession without a court order in the Security Agreement.

In the case of recovery without the court process, you can then proceed to request for assistance from the Nigeria Police having authority within the location of the collateral of that of the debtor. The Police shall provide assistance for the peaceable repossession of the collateral upon your presentation of a copy of the relevant security agreement and duly certified confirmation statement. If you intend to sell the collateral to discharge the debt, it must be in line with the provisions of the Act and without prejudice to the Borrower, Grantor, or another Creditor right of redemption of the collateral at any time before the sale.



At Matthew Ogagavworia & Company, in ensuring that we provide efficient and effective services that will lead us to achieving your goals during the procedure of the debt recovery, we carry out the following processes:

  1. Agreement with our Clients

The first step in our debt recovery process is to have a meeting with our clients either virtually or physically and have an agreement on the certain procedures and strategies that will be carried out in order to ensure a successful debt recovery process

  1. Sending a demand notice to the debtors

After the clients has provided all the details of the debtors, we then proceed to sending a demand notice to all of them in order to inform them of what is at hand. This will be inform of a written letter or through an email.

  1. Phone calls to the debtors

After sending a demand notice to the debtors, the next thing to do is to call them and communicate with them on how they plan of paying the debt owed to our clients

  1. Follow up

We follow up on the phone calls by contacting them frequently and pressurizing them with various strategies in order to ensure that they pay the amount that is owed

  1. Deadline notice

After the previous four steps have been carried out and there has been no signs of positivity or improvement from the debtor’s side, we will issue an ultimatum notice to the debtor which will state the span of time he or she or it has to pay back the debt

  1. Client approval for law suit

If after issuing a deadline notice to the debtors and they do not respond, we will seek our client’s approval to carry out a law suit

  1. Send to an attorney

After receiving the client’s approval for a law suit, we will use the services of the attorney present in our organization to our client’s advantage

  1. Legal judgement

During the court proceedings, we are sure that the legal judgement will favour that of our client.

  1. Recuperation

After the legal judgement, the option that is left is to recover all your unpaid debts from the debtors


At Matthew Ogagavworia & Company, our debt recovery services include the following

  • Negotiation with Creditors for Settlement
  • Acquisition and Sale of Distressed Assets
  • Restructuring under Arrangement with Creditors
  • Bi-lateral Debt Restructuring Liquidation
  • Enforcement of Security Interest Facility
  • Security and Credit Reviews for Lenders and Borrowers


  1. National Network

At Matthew Ogagavworia & Company, we have an extended national network that allows us have access to wherever state that your debtor may be located in Nigeria.

  1. Implementation of strategies

Our recovery process starts with a well laid down strategy which is pursued with vigour until the matter is resolved. We understand our clients’ needs and we make sure that we deliver a good quality service to them

  1. High success rate

At Bulls Capital, we have a high success rate when dealing with debt recovery cases in Nigeria. Our strategies and procedures that we implement ensures that we have a higher chance of recovering the debt

  1. Our costs

At Matthew Ogagavworia & Company, we implement a ‘’No recovery, No payment’’ basis on all our debt recovery processes. We do not collect any upfront payment or administration charges from our clients

  1. Experience

We have a team full of experience dealings in the debt recovery process with different industries in Nigeria. Our team consists of Credit management practitioners, Lawyers, Chartered accountants and bankers, Recovery agents, Bad debts managers who are versed I dealing with the recovery of bad debt in Nigeria


Our years of consistent success in as a debt recovery specialist has made us a force to reckon with when dealing with the business of recovery of bad debt in Nigeria. Matthew Ogagavworia & Company is one of the leading market leaders in the debt recovery process in Nigeria and we start with a laid down and effective process that will ensure that all efforts are put in place to acquire your debt from your debtors


To learn more how we can help you with any of our services discussed here, please reach us now on 08023200801, email or send us a detailed request by completing our enquiry form



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