The Financial System in Nigeria: An Overview of Banking Sector Reforms The Financial System in Nigeria: An Overview of Banking Sector Reforms E. J. Ofanson (Ph.D)1 O. M. Aigbokhaevbolo (Ph.D)2 G. O. Enabulu3 Abstract The paper overviews the banking sector reforms within the framework of the Nigerian Financial System. A theoretical approach was adopted although empirical evidence was presented in some cases. It was clear that developments in the banking sub-sector of the Nigerian financial system
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The economy of Nigeria is a middle income‚ mixed economy emerging market with well-developed financial‚ legal‚ communications‚ transport‚ and entertainment sectors. It is ranked 31st in the world in terms of GDP (PPP) as of 2009‚ and its emergent‚ though currently underperforming manufacturing sector is the second-largest on the continent‚ producing a large proportion of goods and services for the West African region. Previously hindered by years of mismanagement‚ economic reforms of the past
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How do banks make money? Banks are just like other businesses. Their product just happens to be money. Other businesses sell widgets or services; banks sell money -- in the form of loans‚ certificates of deposit (CDs) and other financial products. They make money on the interest they charge on loans because that interest is higher than the interest they pay on depositors’ accounts. The interest rate a bank charges its borrowers depends on both the number of people who want to borrow and the
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Two major types of marriage exist in Nigeria: monogamy‚ a marriage of one man to one woman‚ and polygyny‚ a marriage of one man to two or more wives. In most cultural groups in Nigeria‚ traditional marriage is usually an arrangement between two families as opposed to an arrangement between two individuals. Accordingly‚ there is pressure on the bride and bridegroom to make the marriage work as any problem will usually affect both families and strain the otherwise cordial relationship between them
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Education in Nigeria Education in Nigeria is overseen by the Ministry of Education. And the local authorities take responsibility for implementing policy for state-controlled public education and state schools at a regional level. The education system is divided into Kindergarten‚ primary education‚ secondary education and tertiary education. Primary education Primary education‚ Yoruba‚ and Igbo. Private schools would also offer Computer science‚ French‚ and Fine Arts. Primary school students
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TAXATION AND FISCAL REGULATIONS IN NIGERIA INTRODUCTION The Nigerian Tax System has undergone significant changes in recent times. The Tax Laws are being reviewed with the aim of repelling obsolete provisions and simplifying the main ones. Under current Nigerian law‚ taxation is enforced by the 3 tiers of Government‚ i.e. Federal‚ State‚ and Local Government with each having its sphere clearly spelt out in the Taxes and Levies (approved list for Collection) Decree‚ 1998. Of importance at this juncture
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CONVERSIONS – MORE PRACTICE 1. How many moles does 80.0 grams of H2O represent? 2. How many moles does 45.0 grams of C6H12O6 represent? 3. How many moles does 22.0 grams of CO2 represent? 4. How many moles does 56.0 grams of N2 represent? 5. What is the mass of 2.0 moles of LiOH ? 6. What is the mass of 5.0 moles of Ba(CN)2 ? 7. What is the mass of 3.5 moles of water? 8. What is the mass of 0.75 moles of CuSO4 ? 9. How many atoms does 2.0 moles of He represent? 10. How many sodium ions are in 3.0
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4‚ No. 6‚ 567-581 (1992) THE APPROPRIATE ROLE OF AGRICULTURAL INSURANCE IN DEVELOPING COUNTRIES PETER B. R.HAZELL* Agriculture and Rural Development Department‚ The World Bank Abstract: Multiple-risk crop insurance programmes have proven expensive to governments but have not lived up to their expectations. Many agricultural risks cannot be insured on a financially sound basis‚ but there is scope for increased insurance of farm assets‚ of the life and health of rural people‚ and of some
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How many people died on the Titanic? The Royal Mail Steamer (RMS) Titanic built by the White Star Company in the UK and owned by American tycoon‚ J.P Morgan met its fate while on its maiden voyage to New York when it struck an iceberg and sank two hours later in the early morning of April 15‚ 1912‚ in the Northern Atlantic. A total of 2224 people boarded this ship during its sail and a sum of 1514 people perished with it. The name Titanic‚ a Greek methodology means gigantic and it took a total of
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society. Nigeria with its rather unfair share of the canker worm has as its greatest threat the endemic and malignant nature of corruption. You bribe to get your child into a school‚ you pay to secure a job and you also continue to pay in some cases to retain it. corruption indeed is a bane of any nation. This research work discuses the possible causes of corruption in addition to its effect which seems to rooted in socio- cultural practices and the political and economic realities of Nigeria.
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