history of commercial banks in nigeria

6 ANSWERS

1. amomipais82
   

   Hi There,
   The Central Bank of Nigeria was established by the CBN Act of 1958 and commenced operations on July 1, 1959.
   
   The major regulatory objectives of the bank as stated in the CBN act of 1958 is to: issue legal tender, maintain the external reserves of the country, promote monetary stability and a sound financial environment, and to act as a banker of last resort and financial adviser to the federal government. The central bank's role as lender of last resort and adviser to the federal government has sometimes pushed it into murky regulatory waters. After the end colonial rule, the desire of the government to become pro-active in the development of the economy became visible especially after the end of the Nigerian civil war, the bank followed the government's desire and took a determined effort to supplement any short falls in credit allocations to the real sector. The bank soon became involved in lending directly to consumers, contravening its original intention to work through commercial banks in activities involving consumer lending. However, the policy was an offspring of the indigenisation policy at the time. Nevertheless, the government through the central bank has been actively involved in building the nation's money and equity centers, forming securities regulatory board and introducing treasury instruments into the capital market

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2. Guest8691
   

   what diffrentiate a commercial bank with other financial institution.

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3. Guest6067
   

   The central bank of nigeria is known as the the bankers bank while commercial banks can be termed busines bank,central bank as it is popularly known,is there to assist other banks when there are short of money in running their day-to day business.it is also there to render services interms of advice to the federal govt

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4. Guest9918
   

   http://icr.stakescapital.com/research_int/banking_history_nigeria.html

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5. Guest9948
   

   Discuss the merging of commercial banks in Nigeria

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6. Guest6594
   

   The full History of commercial bank in Nigeria (with references). Send to My Email:vinddy28@gmail.com. Thanks

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