…20 aircraft registered

By Emma Ujah, Abuja Bureau Chief

ABUJA—Moveable assets worth N1. 26 trillion have been registered on the National Collateral Registry, NCR, platform.

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They included 20 planes, owned by private individuals.

The Registrar of the NCR, Alhaji Mohammed Mainasara, disclosed this while addressing Finance Correspondents on the activities of the agency in Abuja.

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According to him, a total of 65,370 moveable assets had been registered on the NCR’s portal as at March 20, 2019.

The National Collateral Registry is a databank where security interests in moveable assets are registered for the purpose of being used as collateral to obtain loans from financial institutions.

It allows borrowers to prove their creditworthiness and lenders to assess their priority interest in potential claims against particular collaterals.

Mainasara disclosed that other items registered include 17,657 documents of title/negotiable instruments, 100 boats, 13 intellectual properties, as well as, two minerals (undisclosed).

The rest were: 417 plants and machinery, 218 securities, 13,425 motor vehicles, 1,582 farm products, 1,166 deposit accounts and 10,579 consumer/household goods among others.

The Registrar added that 630 financial institutions had registered on the NCR portal.

He gave the breakdown as:  21 deposit money banks (DMBs) 552 Microfinance banks, four Merchant banks, four Development Finance Institutions (DFIs), 34 finance companies; one non-interest bank and 14 non-bank financial institutions.

The Registrar said that 165,456 debtors had registered on the portal.  They comprised 157,077 individuals; 735 large businesses; 2,279 medium businesses; 3,457 micro businesses and 1,908 small businesses.

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He disclosed that two of the registered Development Finance Institutions attracted largest number of borrowers registered on the NCR portal numbering 114,894, with financing statements of N54.131 billion.

Mainasara added that 21,144 borrowers were owing six non-bank financial institutions the sum of N84,651 billion.

“A total of 24,318 women had been registered on the NCR portal with a combined registered value of financial statements against them standing at N45.183 billion,” the NCR boss said.



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