CBN, NJI organise workshop for Judges on collateral registry

By Abdallah el-Kurebe, Editor

The Central Bank of Nigeria (CBN) in collaboration with the National Judicial Council (NJI) has organised a forkshop for Judges on Secured Transaction in Movable Asset Act (STMA) and National Collateral Registry (NCR).

The two-day maiden workshop, which will open in Abuja on Monday is aimed to acquaint judges with appropriate legal and regulatory framework of the STMA Act and its contribution to the national economy.

Sources at the CBN said the Acting Chief Justice of Nigeria (CJN), Justice Ibrahim Tanko Muhammad and the Governor of the CBN, Mr. Godwin Emefiele are expected to make key remarks at the workshop.

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Also expected to participate at the workshop are 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 CBN 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.

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