Section 1: Objectives

The objectives of this Act are to:(a) enhance financial inclusion in Nigeria;
(b) stimulate responsible lending to micro, small and medium enterprises;
(c) facilitate access to credit secured with movable assets;
(d) facilitate perfection of Security Interests in movable assets;
(e) facilitate realization of Security Interests in movable assets; and
(f) establish a Collateral Registry and provide for its operations.