Banking & Finance Law

Banking & Finance Law, Electronic Evidence

Electronic Fund Transfers And Recovery In Nigeria: Reconciling Restitution, Unjust Enrichment And The Duties Of Banks

Electronic fund transfers have transformed banking in Nigeria but have also complicated the recovery of erroneous payments. This article examines how restitution, unjust enrichment, the banker-customer relationship and the CBN regulatory framework interact in resolving mistaken, unauthorised and fraud-induced transfers, while balancing efficient recovery with the rights of account holders.

O. M. Atoyebi, SAN FCIArb.(U.K)
October 2, 2026

Banking & Finance Law, EFCC, Legal due diligence, Legal Framework

A Comprehensive Legal Analysis of The EFCC’s Authority To Freeze Bank Accounts Under Nigerian Law

The EFCC possesses significant statutory powers to preserve bank accounts connected with suspected economic and financial crimes, but those powers are subject to defined procedural limits. This article examines section 34 of the EFCC Act, the 72-hour stop-order mechanism under the Money Laundering (Prevention and Prohibition) Act 2022, and the evolving appellate decisions on post-no-debit restrictions. It argues that the legality of any account freeze depends on its statutory basis, duration and compliance with judicial safeguards.

O. M. Atoyebi, SAN FCIArb.(U.K)
October 2, 2026

Banking & Finance Law, CBN, Cyber Security, Digital Currency & Fiat

An assessment of The Central Bank of Nigeria Risk-based Cybersecurity Framework and Guidelines for Deposit Money Banks and Payment Service Banks

The banking system in Nigeria is fundamental to the facilitation of economic growth and stability, primarily through its functions of financial intermediation, capital formation, and effective resource allocation.

O. M. Atoyebi, SAN FCIArb.(U.K)
December 9, 2024

Banking & Finance Law, CBN, Digital Currency & Fiat, Foreign Trade

An Analytical Review of the Nigerian Foreign Exchange Code: Enhancing Transparency and Market Efficiency

The Nigerian Foreign Exchange Market (NFEM) has long been a cornerstone of the nation's economic framework, playing a critical role in facilitating international trade, managing currency flows, and stabilizing the national economy.

O. M. Atoyebi, SAN FCIArb.(U.K)
December 9, 2024

Banking & Finance Law

Understanding KYC in Nigeria Financial Sector: A Legal Perspective

Implementing robust know your customer (KYC) procedures is vital for preventing criminal activities, including but not limited to money laundering, fraud, theft, and other unlawful acts.

O. M. Atoyebi, SAN FCIArb.(U.K)
August 13, 2024

Banking & Finance Law

Implications of the CBN’s Reduction of the Loan-To-Deposit Ratio to 50% on Nigerian Banking Operations and Credit Availability

Loan-to-Deposit Ratio (LDR) is a financial measure that evaluates the liquidity position of a bank. It is computed as a percentage by dividing total loans with total deposits at the given period

O. M. Atoyebi, SAN FCIArb.(U.K)
August 13, 2024

Digital Currency & Fiat, Banking & Finance Law

Assessing the Role of the Nigerian Interbank Settlement System in Enhancing a Sound Financial System in Nigeria

The Nigerian Interbank Settlement System is key to the stability and efficiency of financial transactions in a complex and dynamic terrain like Nigeria’s. Over the years, NIBSS has participated substantially in the digital transformation of Nigeria’s banking sector, guaranteeing easy and secure interbank settlements and promoting a culture of dependability and trust within the system.

O. M. Atoyebi, SAN FCIArb.(U.K)
August 13, 2024

Banking & Finance Law

Enforceability of Netting Agreements Under CAMA 2020

One of the essential requirements for the enforcement of netting arrangements under the Act is that the transaction in question is a qualified financial contract falling under the purview of the Act

O. M. Atoyebi, SAN FCIArb.(U.K)
August 9, 2024

Banking & Finance Law, Digital Currency & Fiat

Businesses in Nigeria: Legal Impact of Financial Payment Systems

The evolution of financial payment systems in Nigeria reflects the country's commitment to modernizing its financial infrastructure and promoting financial inclusion.

O. M. Atoyebi, SAN FCIArb.(U.K)
July 23, 2024

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