CBN, NJI hold workshop for Judges on collateral registry

The maiden Judges’ Workshop on Secured Transaction in Movable Asset Act (STMA) and National Collateral Registry (NCR) opens in Abuja on Monday, February 11, 2019, at the National Judicial Institute (NJI).

The two-day workshop organized by the Central Bank of Nigeria (CBN), in collaboration with the NJI aims to acquaint judges with appropriate legal and regulatory framework of the STMA Act and its contribution to the national economy.

Information obtained from the CBN indicated that the Acting Chief Justice of Nigeria, Justice Ibrahim Tanko Muhammad and the Governor, Central Bank of Nigeria, Mr. Godwin Emefiele are expected to make key remarks at the workshop.

Also expected to participate at the workshop are the members of relevant committees at the National Assembly, Supreme Court Judges, Appeal Court Judges, Federal High Court Judges, the Chief Judge of the Federal Capital Territory (FCT), State Chief Judges, key Government officials, captains of industry, and officials of the World Bank/ International Finance Corporation (IFC).

The Central Bank of Nigeria, in collaboration with the International Finance Corporation (IFC), established the National Collateral Registry (NCR) in 2016 in line with the Bank’s mandate on sustainable economic inclusive growth and financial inclusion. The NCR is a financial infrastructure that seeks to deepen credit delivery to Micro Small and Medium Enterprises (MSMEs) through enhanced acceptability of movable assets such as equipment, machinery, vehicles, crops, livestock, account receivables, inventories, and jewelries.