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The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. [3] The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country; promote monetary stability and a sound financial environment, and act as a banker of last resort ...
The Central Bank of Nigeria Act 1958 (No 24) or CBN Act established the Central Bank of Nigeria. [1] The bank commenced operations on July 1, 1959. The Central Bank of Nigeria Act 1958 was repealed by section 54(2) Archived 2018-07-02 at the Wayback Machine of the Central Bank of Nigeria Decree 1991 . [ 1 ]
Geoscience Reporting Guidelines—for geoscience reports in industry, academia and other disciplines. [30] Handbook of Technical Writing, by Gerald J. Alred, Charles T. Brusaw, and Walter E. Oliu.—for general technical writing. IEEE style—used in many technical research papers, especially those relating to computer science.
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The main function of CBN is to stop opium production and trade, and to issue licences for production of legal synthetic drugs. The Central Bureau of Narcotics headquarters is located at Gwalior . The incumbent Commissioner of Central Bureau of Narcotics is an Indian Revenue Service (IRS) officer, Dinesh Bouddh IRS.
The Central Bank of Nigeria (CBN) considers abuse of the naira a serious offense, as it can lead to a shortage of currency in circulation, increased costs for printing and replacing damaged notes, and a loss of confidence in the currency. The CBN has implemented measures to prevent the abuse of the naira, including:
In 1892, the African Banking Corporation and the Bank of British West Africa, now the First Bank of Nigeria, were established in Nigeria.In 1925, Due to some difficulties the bank folded up its activities and the Bank of British West Africa Limited (BBWA) was established to take over the activities of the African Banking Corporation.
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