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.
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
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.
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
The evolution of financial payment systems in Nigeria reflects the country's commitment to modernizing its financial infrastructure and promoting financial inclusion.
Banker-customer relationships in Nigeria, have embedded in them fundamental rights, privileges and obligations. Some of these must be considered as a result of the critical role they play in the Nigerian economy and their significant impact on the lives of individuals, businesses, and the country as a whole.
A microfinance bank may be established by individuals, groups of individuals, community development associations, private corporate entities and foreign investors subject to a maximum of 49% shareholding for individuals and aggregate related parties.
The establishment of Nigeria's Financial Reporting Council (FRC) under the Financial Reporting Council of Nigeria Act, 2011, marked a significant milestone in the country's efforts to enhance financial transparency, corporate governance, and accountability.
There is a need for mortgages, legal or otherwise, to be created appropriately in order to ensure hitch-free enforcement of rights in the event of default