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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.
Sanusi Lamido Sanusi. Muhammadu Sanusi II, CON ( Ajami: محمد السنوسي, Muhammadu Sanusi na biyu ( Listen ⓘ); born 31 July 1961), [ 1] known by the religious title Khalifa Sanusi II ( Ajami: خليفة السنوسي), is the spiritual leader ( khalifa) of the Tijanniyah Sufi order in Nigeria and the emir ( Sarki) of the ancient city ...
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 ...
Joseph Oladele Sanusi. Personal details. Born. ( 1932-04-24) 24 April 1932 (age 92) Abayi, Southern Region, British Nigeria (now Abia State, Nigeria) Dr. Paul Agbai Ogwuma (born 24 April 1932) is a Nigerian banker who was Governor of the Central Bank of Nigeria between 1993 and 1999 during the military regime of General Sani Abacha and his ...
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 ...
Yaba College of Technology was established in 1947 as a successor of Yaba Higher College.It attained autonomous status in 1969 by virtue of Decree 23 which granted it the mandate to provide full-time and part-time courses of instruction and training in technology, applied science, commerce and management, agricultural production and distribution; and for research.
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 ...
t. e. Finance refers to monetary resources and to the study and discipline of money, currency, assets and liabilities. [ a ] As a subject of study, it is related to but distinct from economics, which is the study of the production, distribution, and consumption of goods and services. [ b ] Based on the scope of financial activities in financial ...