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Posts matching Cbn

Central Bank of Nigeria Act

2016-12-20 10:30 AM | by Nigeria Compliancehub

This is an Act to repeal the Central Bank of Nigeria Act 1991 and to establish the Central Bank of Nigeria Act; and for related matters. 

The principal objects of the Bank shall be to ensure monetary and price stability; issue legal tender currency… Read more

Community Banks Act

2016-12-20 11:25 AM | by Nigeria Compliancehub

This is an Act to provide for the establishment of Community Banks and to establish their functions which include accepting from persons various types of deposits, including savings and time and target deposits; issuing for… Read more

Mortgage Institutions Act

2016-12-20 11:35 AM | by Nigeria Compliancehub

An Act to make provisions for establishment and licensing of mortgage institutions to grant loans and advance to individuals for the purchase or construction of a dwelling house; improvement or extension of an existing dwelling house; and to accept savings and deposits from members of the… Read more

Federal Mortgage Bank of Nigeria Act

2016-12-20 4:03 PM | by Nigeria Compliancehub

This is an Act to establish the Federal Mortgage Bank of Nigeria to provide long-term credit facilities to mortgage institutions in Nigeria and encourage and promote the development of mortgage institutions at the rural, local, State and Federal levels.
Read more

Ex-bankers sue CBN and NDIC

2017-01-16 10:19 AM | by Nigeria Compliancehub

Ex-bankers of eight non-consolidated banks have sued the Nigeria Deposit Insurance Corporation (NDIC), Central Bank of Nigeria (CBN) and four acquirer banks over unpaid N9.8 billion terminal benefit 11 years after disengagement from the services of the non-consolidated banks. The action was filed through the Registered Trustees of… Read more

Nigeria: Is Inter-Agency Fighting Derailing Anti-Graft War?

2017-08-30 11:09 AM | by Nigeria Compliancehub

Concerns that the various anti-corruption agencies are at loggerheads have been severally denied by the agencies concerned. But the perceived loss of steam in the anti-graft war, and recent events between the Attorney General of the Federation (AGF), Abubakar Malami (SAN) and the chairman of the Economic and Financial Crimes… Read more

N20trn unremitted?

2017-09-19 3:24 PM | by Nigeria Compliancehub

According to the latest report of the National Bureau of Statistics (NBS), Nigeria has only just exited, no matter how fragilely, the most severe economic recession she has experienced in the last two decades. The roots of the country’s slide into recession in August, 2016, could be traced to the… Read more

Experts endorse movable assets’ Act at CIBN forum

2017-10-04 12:14 PM | by Nigeria Compliancehub

The signing into law of the bill for using movable assets as collateral, popularly known as Collateral Registry Act has been described as moves in the right direction, by financial experts.

The law, which came on the realization that small business, estimated to have employed over 60 million Nigerians and accounted… Read more

Reps under fire over Pension Act amendment

2017-10-04 1:00 PM | by Nigeria Compliancehub

Stakeholders in the pension industry have taken up arms against the House of Representatives over ongoing attempts at amending the Pension Reform Act, PRA, less than three years after it was amended in 2014. Specifically, they are kicking against the plan to exclude paramilitary institutions from the Contributory Pension Scheme,… Read more

Nigerian Bourse on the Right Trajectory

2017-10-04 2:40 PM | by Nigeria Compliancehub

Nigeria’s capital market effectively came on stream the same year the country gained its independence. Hence, the fate of both the market and country has ever since been tied together. Therefore, the market’s performance is similar to how the country has fared in the past 57 years. There have been… Read more

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