In a bid to improve financial inclusion and access to affordable debt finance by micro, small and medium enterprises (MSMEs), Nigeria's Secured Transactions in Movable Assets Act (STMA) was enacted on 31 May 2017 to regulate the creation, perfection and realization of security interests in movable assets. This article critically examines certain provisions of the STMA, including the potential issues that may arise due to the dual registration system now available under the act and that hitherto existing under the Companies and Allied Matters Act, as well as the implications of the STMA on traditional pledge transactions. It concludes that, while the STMA is an impressive attempt at enabling MSMEs to leverage their assets into capital for investment and expansion, it fails to procure a harmonized legal framework for secured transactions in personal property or to facilitate their effective use as collateral to improve access to credit by businesses in Nigeria.

为了改善微型，中小型企业（MSME）的金融包容性和可负担债务融资的可及性，尼日利亚于2017年5月31日颁布了《动产担保交易法》（STMA），以规范安全创造，完善和实现动产的权益。本文严格审查了STMA的某些规定，包括由于该法案现在可用的双重注册系统以及《公司和联合事项法》迄今为止存在的双重注册系统可能引起的潜在问题，以及STMA对传统的影响质押交易。结论是，尽管STMA是一次令人印象深刻的尝试，它使MSME能够利用其资产来进行投资和扩张，但是，