The Equipment Leasing Registration Authority (ELRA) and the National Collateral Registry (NCR) have entered into a strategic partnership aimed at strengthening equipment leasing and expanding access to finance in Nigeria. This collaboration focuses on the registration of movable assets, allowing leased equipment to serve as credible collateral, particularly for small and medium-sized enterprises (SMEs) that often face challenges in securing traditional financing.
As the regulatory body responsible for overseeing equipment leasing registration, ELRA plays a vital role in promoting transparency and best practices in the leasing industry. By aligning with the NCR a Central Bank of Nigeria initiative that facilitates asset-based lending this partnership is set to enhance lender confidence, increase access to credit, and support the growth of Nigeria’s real economy through more inclusive financial solutions.
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ELRA & NIRSAL TO STRENGTHEN AGRICULTURAL FINANCING
