About the NCR

The National Collateral Registry of Nigeria is an initiative of the Central Bank of Nigeria (with the support of the International Finance Corporation) to improve access to finance particularly for MSMEs.

The NCR handles both incorporated and non-incorporated entities (such as associations). The database of the NCR stores information for the whole economy and is stored electronically and publicly accessible to registrants and searchers. The registry covers all types of security rights in movable assets such as machines, inventory, tangible assets and receivables which are most likely owned by small businesses.

The electronic database is filed by debtor’s name or a unique identifier (e.g. unique number)

Download NCR Manual

Steps to register collateral by financial institutions and banks with National Collateral Registry (NCR)

Create an Account

*Financial institutions and banks are required to create a client account on the National Collateral Registry of Nigeria (NCR) website before being able to register a financing statement. The steps are as follows:

• Go to the National Collateral Registry (NCR) website – www.ncr.gov.ng
• Click on the “create account” button which opens a verification page
• Enter BVN in the box and click submit
• After authentication and approval of the BVN, the Secured Creditor Profile page opens
• Enter your institution profile in the Secured Creditor Profile form taking note of the mandatory fields
• Move to the Administrator Account Profile Section and fill the Administrator Account Profile form
• Complete the Administrator Profile and then move to the Security Check section
• Clicking on the Submit button displays the Review Secured Creditor Registration Information page.
• Verify to confirm the information on the page is accurate.
• Click the “Submit Registration” button to submit client account registration request for approval or click on the “cancel” button to cancel the request and return to the previous page.
• When your account request is approved by the Registry, the link to activate the account will be sent to the email address you provided under the Administrator Account Profile form.
• To access your client account click on the link.

Create a financial statement

*To create a financing statement, the financial institution must already have an account with the National Collateral Registry (NCR) and have adequate funds in their wallet as registering a financing statement attracts a charge. The steps are as follows:

• Login into the application with your Login id and Password and click on the Financing Statement menu tab
• Select Create New Financing Statement from the drop down list
• Fill the mandatory boxes as required on the Loan Information form
• Move to the Registration Information section/tab and click on the Secured Creditor tab. The Secured Creditor profile details captured at the time the account setup is displayed.
• If there are two or more secured creditors, add secured creditors by clicking the appropriate button below the page depending on what is needed. Click on the “Add Secured Creditor” button to open the Add New Secured Creditor page.
• Click on the “Debtor” tab and select the appropriate debtor type (–Individual or Institutional) button to add Debtor details
• Click on the “Collateral” tab to add the Collateral details.
• Select Collateral type from the drop down list and enter the Serial Number (for Planes, Boats, Motor Vehicles, Plant and Machinery collaterals) and description of the collateral in the Serial No. and Description boxes respectively.
• To add more collateral, click on the “Add New Collateral” button.
• You may add a file attachment (in Word or PDF formats) to the financing statement by clicking on the Add File button.
• Click the acknowledgement box
• To complete, click on the Submit Financing Statement button and submit.
• Upon successful submission of the financing statement for registration, a confirmation message with a summary view of the financing statement as shown below is displayed for your preview.

Steps to accessing credit/loan with moveable assets

• Borrower seeks credit with moveable asset which must have been insured
• Lender proceeds to search the registry database using a unique identification to ensure the assured asset has not been previously used for another loan
• Lender files a financial statement on the National Collateral Registry (NCR) website and registers an interest in the asset used as collateral
• Loan is then made available to borrower by lender
• Once borrower has made loan repayment, the lender frees the movable asset of the borrower from any burden within fifteen (15) working days