ncr@cbn.gov.ng +234 803 3595 834
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Movable Property

Movable property under the Collateral Registry Regulation, refers to tangible property that can be physically moved like equipment and livestock, or any intangible property like accounts receivable and bank accounts.

Farm produce as collaterals?

Yes! Farm products including crops (grown, growing or to be grown), fish stocks, poultry, livestock (and their unborn offspring), seeds, and other supplies used or produced during farming operations can be used.

Individuals pool assets to apply together?

Yes, individuals may apply for a loan as a group. They may use their assets that they own individually or jointly as collateral for the loan.

Who can take a security interest in collateral?

For the purpose of the Regulations, only a bank or financial institutions licensed by the CBN under the Banks and Other Financial Institutions Act (BOFIA), can take a security interest in collateral.

About Us

The National Collateral Registry of Nigeria is an initiative of the Central Bank of Nigeria (with support from IFC) to improve access to finance particularly for Micro, Small and Medium Enterprises (MSMEs). The Collateral Registry, which operationalizes the Secured Transactions in Movable Assets Act, (STMA) 2017, is a web-based system that allows lenders to determine any prior security interests, as well as to register their security interests over movable assets provided as collateral.

The Collateral Registry facilitates the use of movable / personal assets as collateral that remain in possession or control of the borrowers and thereby improves access to secured finance because :

  • Movable assets/personal property often account for most of the capital stock of private firms and comprise an especially large share MSMEs.
  • Movable assets are the main type of collateral that MSMEs, especially those in developing countries, can encumber to obtain financing.
  • Given the opportunities in agri-business among others, the Collateral Registry regime allows Nigerian farmers and entrepreneurs to unlock significant sources of capital with assets that would otherwise not be looked at by lenders as potential collateral.

The Central Bank of Nigeria remains committed to the sustainable economic growth of Nigeria and shall continue to support the development of necessary financial sector infrastructure.

The Collateral Registry system is a centralized web-based software designed and developed based on international standards that contains information relating to security interests in movable property included in financing statements submitted by registered users.

The collateral registry software automatically assigns a sequential registration number, date and time of registration to each financing statement accepted for registration The priority among competing security interests is established according to the time of registration.

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Features

The National Collateral Registry system holds a number of functionalities for both registered users and public users.

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Services

Some of the services we offer on the NCR platform

Search for financing Statements

You can search by the unique identification number for an individual debtor, or the business registration number for company, cooperative or registered business name debtor or the collateral serial number.

Generate Payment Codes

Generate payment reference codes to gain access to NCR services. If specified, codes can be used multiple times.

Verify Payment

Check the past payments and see the status of current ones. See if the payments have expired or number of times used

Others

The National Collateral Registry Portal contains numerous services, kindly click here to see details step-by-step guides.

Call To Action

Send us ideas, feedback, job requests or anything that you want to tell us. We want to provide service where you have a voice. We're as open as the platform that we develop for and we want it to remain that way.

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Frequently Asked Questions

  • What is collateral?

    Collateral is any movable property, whether tangible or intangible, that is subject to a security interest.

  • A person is a debtor only if the person’s debt is secured with some (personal) movable property, which the person has rights in.

  • For more information concerning various functions of the National Collateral Registry, please click the help button above.

  • Movable property under the Collateral Registry Regulation, refers to tangible property that can be physically moved like equipment and livestock, or any intangible property like accounts receivable and bank accounts.

  • The system has been designed for easy payments. Public Users may pay online.

  • Yes! Farm products including crops (grown, growing or to be grown), fish stocks, poultry, livestock (and their unborn offspring), seeds, and other supplies used or produced during farming operations can be used.

  • Yes, individuals may apply for a loan as a group. They may use their assets that they own individually or jointly as collateral for the loan.

  • For the purpose of the Regulations, only a bank or financial institutions licensed by the CBN under the Banks and Other Financial Institutions Act (BOFIA), can take a security interest in collateral.

  • Yes. The Collateral Registry Regulations applies to not only business assets but also to consumer goods that are used primarily for personal, family, or household purposes.

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Contact Us

Location:

National Collateral Registry
1581 Tigris Crescent, Maitama, Abuja.
(Central Bank of Nigeria)
P.O. Box 100
Abuja.
Federal Capital Territory,
Nigeria.

Help Desk:

+2349062496799 +2348107750312 +2348037162363 +2349080316777 +2348097584175 +2348037162363