20 planes, owned by private individuals, are among moveable assets worth N1. 26 trillion registered on the National Collateral Registry (NCR) platform.
Registrar of NCR, Alhaji Mohammed Mainasara, disclosed this in Abuja, adding that 65,370 moveable assets had been registered on the NCR’s portal as at March 20.
The NCR 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.
Other items, according to Mainasara, are 17,657 documents of title/negotiable instruments, 100 boats, 13 intellectual properties, as well as two minerals (undisclosed).
The rest are 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, 2019 financial institutions had registered 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.
He disclosed that two of the registered DFI attracted largest number of borrowers registered on the NCR portal numbering 114,894, with financing statements of N54.131billion.
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.
He lamented that the Registry lacked funds to undertake an aggressive national campaign on its activities, saying, however, that whatever resources were at its disposal would be utilised, optimally to achieve its mandate of making it easier for operators in the SMEs sector to access finance from financial institutions.