The Bankers’ Committee of the Central Bank of Nigeria (CBN) has revealed after the end of its 327th meeting at the CBN headquarters in Abuja, on Thursday that those seeking loans would soon be able to use movable assets as collateral.
The Managing Director,Standard Chartered Bank Plc,Mrs Bola Adelola, stated that the framework for a National Collateral Registry was almost ready and would facilitate the easy access of loans by bank customers when it becomes operational .
Adelola reiterated that based on the guidelines, those seeking loans from banks could use movable assets such as vehicles, fridges, and other home appliances as collaterals.
“You are all aware that the Central Bank of Nigeria is developing a National Collateral Registry. I am pleased to say that they have put the framework in place and the technology.
“They have begun to engage stakeholders and we should expect a roll out of the collateral registry being available to banks to register movable assets that they lend against.a policy statement will be issued shortly.
“And we expect that that will make more robust the banks’ credit process in lending to customers against movable asset,” she stressed.
On the rate of mass sacking in banks, the committee resolved to intervene within the shortest time possible.
Other members of the committee present at the briefing were the Director, Banking Supervision, CBN,Mrs Tokunbo Martins; Managing Director, United Bank for Africa Plc, Mr Phillips Odouza and Managing Director, Union Bank of Nigeria Plc,Mr Emeka Emuwa.
