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The banking industry in Nigeria started during the colonial era with the establishment of Colonial Banks, with the primary aim of meeting the commercial needs of the Colonial Government. [ 1] The banking system in Nigeria is regulated through the Central Bank of Nigeria. This apex bank started operation on July 1, 1959.
The history of banking began with the first prototype banks, that is, the merchants of the world, who gave grain loans to farmers and traders who carried goods between cities. This was around 2000 BC in Assyria, India and Sumer. Later, in ancient Greece and during the Roman Empire, lenders based in temples gave loans, while accepting deposits ...
The naira was introduced on 1 January 1973, [ 9] replacing the Nigerian pound at a rate of £1 = ₦2. [ 10] The coins of the new currency were the first coins issued by an independent Nigeria, as all circulating coins of the Nigerian pound were all struck by the colonial government of the Federation of Nigeria in 1959, with the name of Queen ...
Wema Bank Plc, commonly known as Wema Bank, is a Nigerian commercial bank.It is licensed by the Central Bank of Nigeria; the regulator of the nation's banking sector. As of 2019, Wema bank operates the largest digital banking system in Nigeria, ALAT By Wema, which is fully in use in all of the nation's thirty six states and federal capital territory.
Union Bank is a large commercial bank, serving individuals, small and medium-sized companies, as well as large corporations and organizations. In July 2009, it was rated the 556th largest bank in the world and the 14th largest bank in Africa. [ 2] As of Mar 31, 2018, the bank's asset base was estimated at NGN1, 381 billion (US$4.1billion).
Union Bank of Nigeria Plc. United Bank for Africa Plc. Zenith Bank Plc. This is a list of commercial banks with National Authorization in Nigeria, arranged alphabetically: [ 1] Citibank Nigeria Limited. Ecobank Nigeria. Keystone Bank Limited. Optimus Bank Limited [ 2] Polaris Bank Limited.
Afribank Nigeria PLC was a commercial banking, real estate and insurance broker based in Lagos, Nigeria. [ 1] It was established by French investors in 1959 under the name Banque Internationale pour l'Afrique Occidentale (BAIO). [ 2] As at 2010, the bank operated over 250 branches across Nigeria, and was one of the region's "Big Four" banks.
July 24, 2024 at 1:18 PM. Meta said Wednesday that it has taken down about 63,000 Instagram accounts in Nigeria running sexual extortion scams and has removed thousands of Facebook groups and ...