Section 34: Priority of judgment Creditor Cap. 56. LFN.2004

(1) Notwithstanding the provisions of the Sherriff and Civil Process Act, Cap LFN 2004, a perfected security interest has priority over the rights of an unsecured creditor that has obtained a judgement or an order of attachment, unless the judgement creditor, before the security interest is perfected:
(a) registers a financing statement;
(b) seizes the collateral; or
(c) serves a notice of its claim on the third party holding property for the debtor.
(2) The priority of the security interest extends to credit disbursed by the creditor:
(a) Before the expiry of (30) thirty days after the judgement creditor notified the creditor that it had taken the steps referred to in subsection (1); or
(b) Pursuant to an irrevocable commitment in a fixed amount without any limitation if the commitment was made before the judgment creditor notified the creditor.