By U. B. Uwatt
Finance and banking, in the Nigerian context, have evolved over the years. The first commercial bank (First Bank of Nigeria PLC) was established in 1892 and the Central Bank of Nigeria (CBN) started operation on July 1, 1959. The sector has evolved and several developments have been made to date. They have been induced largely by a rapidly changing policy environment, technologi cal innovations, market conditions, relationships among financial institutions and instruments, and several laws and regulations of Government. Nigeria has a financial sector comprising the regulatory/supervisory authorities; money market and its institutions; capital market and its institutions; development finance institutions; and others. This module reviews developments in the Nigerian financial sector with particular reference to: (i) The Regulatory Framework and Regulatory/Supervisory Authorities; (ii) Money Market and its Institutions; (iii) Capital Market and its Institutions; (iv) Development Finance Institutions; (v) Other Financial Institutions and (vi) Distress in the Financial Institutions
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