Assets in CBN’s National Collateral Registry Hits N1.561tn Obinna Chima 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. The NCR is a financial infrastructure that seeks to deepen credit delivery to MSMEs through enhanced
are registered after being used as collateral to obtain facilities from financial institutions. NCR allows lenders to assess their priority interest in potential claims against particular collateral.
acceptability of movable assets - equipment, machinery, vehicles, Keke - NAPEP, crops, livestock, account receivables, inventories, and jewelry - as collateral for loans by financial institutions. It is a registry where security interests in moveable assets
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NDLEA: Impounded Drugs at MMIA Increased by 400% ... Page 8 Thursday 7 February, 2019 Vol 24. No 8705. Price: N250
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Agbaje Pledges to Spend 50% of Lagos Budget on Education ... Page 8
Massive Shakeup in Police, IG Redeploys over 50 Officers Tinubu’s ex-CSO moves to Kwara as CP PDP protests, says APC wants to oust Saraki at all cost Adedayo Akinwale, Udora Orizu in Abuja and Hamid Adedeji in Lagos A wave of redeployments yesterday hit the police hierarchy as the acting Inspector General of Police, Mr. Mohammed Adamu, approved the transfer of over 50 senior officers less than
10 days to the presidential election scheduled for February 16. Although a statement by the spokesperson of the Police Service Commission (PSC), Mr. Ikechukwu Ani, said the postings were approved by the commission following Continued on page 6
Buhari Promises to Re-invest Recovered Loots in Infrastructure George Okoh in Makurdi President Muhammadu Buhari yesterday promised to invest all looted funds to improve the nation’s infrastructure, assuring that he would also provide security to ensure peaceful elections in Benue State and other troubled parts of the country.
Speaking in Aper Aku Stadium, Makurdi, the Benue State capital, in continuation of his nationwide presidential campaign, Buhari said he would remain consistent in the war against corruption. He recalled that when he went to the state in 2014 to Continued on page 8
APC Has No Candidates in Rivers State, INEC Insists… Page 6
EXPANDING BANKING FRONTIER… L-R: President, Republic of Mali, Mr. Ibrahim Boubacar Keita; Chairman, United Bank for Africa (UBA) Plc, Mr. Tony Elumelu; and Mali’s Prime Minister, Mr. Soumeilou Boubeye Maiga, during the launch of UBA Mali, the 20th subsidiary of the Pan African Bank in Africa, in Bamako…recently