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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 The Central Bank of Nigeria Act 1958 was repealed by section 54(2) Archived 2018-07-02 at the Wayback Machine of the Central Bank of Nigeria Decree 1991 .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 ]
This is a list of commercial banks and other credit institutions with in Nigeria, as updated late 2024 by the Central Bank of Nigeria. [ 1 ] List of commercial banks
The NDIC complements the regulatory and supervisory role of the Central Bank of Nigeria (CBN), although it reports to the Federal Ministry of Finance. The NDIC advises the CBN in the liquidation of distressed banks and manages distressed banks' assets until they are fully liquidated. [5] The NDIC has a supervisory role over insured banks.
LECON Financial Services, formerly Leasing Company of Nigeria Limited, was established as a wholly owned subsidiary of Bank of Industry Limited (BOI), formerly Nigerian Industrial Development Bank Limited, (NIDB) in 1989. It was set up to augment the activities of BOI by providing ancillary facilities to loan beneficiaries of the bank. [27]
ISO 10962, known as Classification of Financial Instruments (CFI), is a six-letter-code used in the financial services industry to classify and describe the structure and function of a financial instrument (in the form of security or contract) as part of the instrument reference data.
Access Bank branch at Kola bus stop, opposite AIT road, Alagbado, Lagos. Access Bank Plc, commonly known as Access Bank, is a Nigerian multinational commercial bank, owned by Access Bank Group.
On Friday 5 August 2011, Keystone Bank Limited was issued a commercial banking license by the Central Bank of Nigeria (CBN). On the same day, CBN revoked the banking license of Bank PHB . Keystone Bank assumed the assets and some liabilities of the now defunct Bank PHB.