The Central Bank of Nigeria (CBN) plays a key role in shaping the country’s economic landscape by controlling inflation, stabilizing the currency, and fostering economic growth.
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.
In modern society, foreign exchange (Forex) stands as a pivot for a nation's economy. As the world morphs into a global village, as enabled by technology, inter-connectivity not only makes international trade and investment possible but efficient.
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.
The Supervisory Framework for Payment Service Banks is essential for regulating their operations by promoting financial inclusion, ensuring strong corporate governance, and enforcing compliance with anti-money laundering, and combating the financing of terrorism measures.
