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The NDIC is parastatal under the Nigerian Ministry of Finance. The corporation is charged with protecting the banking system from instability occasioned by runs and loss of depositors' confidence. [2] It operates under the Nigeria Deposit Insurance Corporation Act (1990). [3] The NDIC is a member of the Financial Reporting Council of Nigeria. [4]
In 1970, the name DPR was carved out due to the expansion of activities in the ministry. By the beginning of 1971 the FGN created Nigerian National Oil Corporation (NNOC), to manage commercial operational activities in the petroleum industry. The department became the MPR in 1975.
The Financial Reporting Council (FRC) of Nigeria, formerly the Nigerian Accounting Standards Board (NASB), is an organization charged with setting accounting standards in Nigeria. On Thursday, 6 May 2021, Shuaibu Adamu Ahmed was inaugurated by the Minister of Industry, Trade and Investment, Adeniyi Adebayo, as the Executive Secretary/Chief ...
Subsequently, from 1946 to 1948, Nigeria obtained an additional £5.74 million, further elevating the nation's total debt burden to £21.24 million by the conclusion of 1952. [10] In 1958, the Nigerian Protectorate issued a £28 million loan from the International Bank for Reconstruction and Development (IBRD), also known as the World Bank.
The Securities and Exchange Commission (SEC) is the main regulatory institution of the Nigerian capital market. It is supervised by the Federal Ministry of Finance. [1] The Nigerian Stock Exchange (NSE) is privately owned and self-regulating, but the SEC maintains surveillance over it with the mandate of ensuring orderly and equitable dealings in securities, and protecting the market against ...
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.
National Inland waterways authority, Outer Marina, CMS, Lagos Nigeria. National Inland Waterways Authority (also known as NIWA) is the authorised agency in charge of inland water regulation in Nigeria. [1] Munirudeen Bola Oyebamiji is the Managing Director of NIWA. [2]
The expected years of schooling in Nigeria is 10.0 (16.3 in the US), while the mean years of schooling for adults over 25 years is 6.7 years (13.4 years in the US). [38] Additionally, Nigeria is also facing a relatively high inequality, worsening the problem regarding the formation of human capital.