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Different Types of Banking Licenses in Nigeria and Example Banks

Posted: April 14th, 2023, 10:13 am
by Danny
Banks play such a vital role in the economy of every nation by rendering critical services such as accepting deposits, and withdrawals, giving loans, "creating money" within its approved "minimum capital ratio," and also transmitting monetary policies, currency exchange, forex trading, wealth management among other roles to make the economy run efficiently while preserving the power of the currency.

Every nation, including Nigeria, has an apex bank, commonly referred to as a Central Bank, that is in charge of supervising and regulating banks (which are typically run as private and public businesses), ensuring that they are not only motivated by profit but also by the country's economic outl…

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