Collateral registry will aid MSME financing, says CBN

The Central Bank of Nigeria (CBN) has restated the importance of the

National Collateral Registry (NCR) in efforts to get Nigerian banks’ attention to support Micro, Small and Medium Enterprises (MSMEs).

At a three-day workshop with the theme “The Secured Transaction and National Collateral Registry As a Tool for Deepening Access to Finance MSMEs,” the apex bank maintained that MSMEs are the engine room for economic growth.

The workshop was organised by the Bankers Committee’s sub-committee on Economic Development, Sustainability and Gender for MSME desk officers in Nigerian banks in conjunction with the CBN, NCR and the IFC/World Bank.

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