Section 55: General

(1) For the purposes of this Act, the grantor is located in Nigeria if it has a place of business in Nigeria.
(2) If the grantor does not have a place of business, reference is to be made to the habitual residence of the grantor.
(3) The location of the property or of the grantor shall be determined, for creation purposes, at the time of the creation of the security interest and, for perfection and priority purposes, at the time the issue arises.