Classification of Credit Security in Nigeria: Resolving the Perceived Dichotomy

This article is focused on the classification of credit security in Nigeria with a view to resolving the perceived dichotomy in the categorization. Credit security generally is within the ambit of property law which is circumstanced in secured credit. The work also attempts to determine the legal basis of this classification and the inherent utilities. We summarize that classification of security should be maintained for the purpose of distinction and clarity in aid of the unwary and non-legal minds.