Buhari signs new law guiding Nigeria’s banks, other financial institutions

President Muhammadu Buhari on Thursday, November 12, 2020 assented to the Banks and Other Financial Institutions Act 2020.
 
It repeals the extant Banks and Other Financial Institutions Act 1991 as amended. This monumental piece of legislation is expected to enhance the soundness and resilience of the financial system for sustainable growth and development of the Nigerian economy.
 
The BOFI Act 2020 updates the enabling law in response to developments and significant evolution in the financial sector over the last two decades. It will increase the appetite of banks and other financial institutions to channel much needed credit to the real sector to support economic recovery and promote sustainable growth…
 
More details through:
https://www.premiumtimesng.com/news/more-news/426023-buhari-signs-new-law-guiding-nigerias-banks-other-financial-institutions.html
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