Secured Transactions in Movable Assets Act, 2017 Explanatory Memorandum
Ministry of Industry, Trade and Investment, Nigeria
This is an Act to provide for secured transactions, registration and regulation of security interests in movable assets; and for related matters. The objectives of the act are to enhance financial inclusion in Nigeria, stimulate responsible lending to micro, small and medium Enterprises, facilitate access to credit secured with movable assets and establish a collateral registry and provide for its operations.
Process Flow
National Assembly ⬤
Office of the President ⬤
Secured Transactions in Movable Assets Act, 2017 Explanatory Memorandum Current Version
January 2022
This is an Act to provide for secured transactions, registration and regulation of security interests in movable assets; and for related matters. The objectives of the act are to enhance financial inclusion in Nigeria, stimulate responsible lending to micro, small and medium Enterprises, facilitate access to credit secured with movable assets and establish a collateral registry and provide for its operations.
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