Banking in Nigeria

This article is about development of the banking industry. For banks operating in Nigeria, see List of banks in Nigeria.

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.[2]

  1. ^ Toluwani A. Ajayi. "THE EVOLUTION OF NIGERIAN BANKING SYSTEM, SUPERVISION AND CURRENT CHALLENGES". Archived from the original on 27 February 2024. Retrieved 29 November 2015.
  2. ^ "Central Bank of Nigeria:: History of the CBN". www.cbn.gov.ng. Archived from the original on 2020-07-27. Retrieved 2020-05-30.