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Assets in CBN’s National Collateral Registry Hits N1.561tn

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A cumulative of 154,827 micro, small and medium scale enterprises (MSMEs) have used movable assets valued at N1.561 trillion to obtain loans from financial institutions since the National Collateral Register (NCR) was passed into law, THISDAY’s investigation has revealed.

The latest NCR report obtained by THISDAY showed that a breakdown of the amount recorded between January 1, 2017 and December 19, 2018, put the value of the assets at N1.209 trillion; $1,142, 389,799.12 (N349,571,278,530.72) and €6,080,004.36 (N2,121,921,521.64).

In pursuant of the Central Bank of Nigeria’s (CBN) mandate on sustainable economic inclusive growth and financial inclusion, the apex bank in collaboration with the International Finance Corporation (IFC) had established the NCR.

THISDAY, February 7, 2019

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