Regulatory Alerts2014-09-24 | DFD/DIR/GEN/CRR/01/001Collateral Registry Regulations 2014
The Central Bank of Nigeria has issued the Collateral Registry Regulations, 2014, to promote a sound financial system and improve access to finance for micro, small, and medium enterprises (MSMEs). These regulations provide a framework for accessing credit secured with movable property, creating and perfecting security interests, and realizing security interests in movables. They also establish and govern the operations of the Collateral Registry, aiming to stimulate responsible lending to MSMEs by providing an efficient registration mechanism for security interests in movable property and their realization in case of default.
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credit