The National Collateral Registry in collaboration with the Development Finance Department of the Central Bank of Nigeria has said it has disbursed over N16.6tn since 2017 and registered over 650,000 businesses under the NCR scheme.
This was disclosed at an event in Lagos organised by the Development Finance Department of the Central Bank of Nigeria in collaboration with the National Collateral Registry, the Pro-poor Growth, and promotion of Employment in Nigeria program-SEDIN of Deutsch Zusammenarbeit stakeholders’ town hall meeting on the use of Secured Transactions in Movable Assets Act 2017 and the benefits of the transaction’s regime in Nigeria.
Also, the Pro-Poor Growth and the Promotion of Employment in Nigeria Program-SEDIN of Deutsch Zusammenarbeit (GIZ)- partnered with NCR to sensitise the stakeholders on the use of Secured Transactions in Movable Assets Act 2017 and the benefits of its regime in Nigeria. Musa said, “Over 650,000 have been registered and the credit that has been disbursed and collaterised is about N16.6tn since 2017 on the National Collateral Registry portal.
The NCR is an initiative of the Governor of the Central Bank of Nigeria, Godwin Emefiele. It is an initiative from the International Finance Corporation and Central Bank of Nigeria.”
