Search results
Results from the WOW.Com Content Network
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 The Central Bank of Nigeria Act 1958 was repealed by section 54(2) Archived 2018-07-02 at the Wayback Machine of the Central Bank of Nigeria Decree 1991 .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 ]
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:
A key part of bank regulation is to make sure that firms operating in the industry are prudently managed. The aim is to protect the firms themselves, their customers, the government (which is liable for the cost of deposit insurance in the event of a bank failure) and the economy, by establishing rules to make sure that these institutions hold enough capital to ensure continuation of a safe ...
Premium Trust Bank is a Nigerian commercial bank that is licensed by the Central Bank of Nigeria, the national banking regulator. [1] The bank offers personal, corporate, private and SME Banking. [2]
Aishah Ndanusa Ahmad (born 26 October 1976) [1] is a Nigerian accountant and finance professional. She is a former deputy governor of the Central Bank of Nigeria having been appointed on 6 October 2017, replacing Sarah Alade, who retired in March 2017.
A bridge bank is an institution created by a national regulator or central bank to operate a failed bank until a buyer can be found. [1] [2]While national laws vary, the bridge bank is usually established by a publicly backed deposit insurance organisation or financial regulator and may be instituted to avoid systemic risk and provide an orderly transition avoiding negative effects such as ...
Basel III: Finalising post-crisis reforms, sometimes called the Basel III Endgame in the United States, [1] [2] Basel 3.1 in the United Kingdom, [3] or CRR3 in the European Union, [4] are additional changes to international standards for bank capital requirements that were agreed by the Basel Committee on Banking Supervision (BCBS) in 2017 as part of Basel III, first published in 2010.