Central Bank of Nigeria Act definition

Central Bank of Nigeria Act means the Central Bank of Nigeria Act, 2007;
Sample 1

Examples of Central Bank of Nigeria Act in a sentence

  • The Bank shall in addition to the functions and powers conferred on it by this Act, have the functions and powers conferred and the duties imposed on the Bank by the Central Bank of Nigeria Act.

  • These are the financial statements of the Central Bank of Nigeria (CBN or the Bank), a body corporate established by the Central Bank of Nigeria Act of 1958 as amended by the CBN Act No. 7 of 2007.

  • This is in accordance with section 5(3) of the Central Bank of Nigeria Act No. 7 of 2007.

  • For example, mergers involving banks are subject to the Banks and other Financial Institutions Act 1991 (as amended), the Central Bank of Nigeria Act 1991 (as amended) and the Central Bank of Nigeria Procedures Manual for processing Applications for Bank Mergers/Take-over 2004 (as updated).

  • It repeals the earlier law that established the CBN, namely; Central Bank of Nigeria Act 1958, and the Central Bank of Nigeria (Currency Conversion) Act 1967, the Finance Act 1969, along with their various amendments.24 Amended in 2007 to give more power to CBN.

  • The Central Bank of Nigeria Act (CBNA)6 allows, among other functions, the Central Bank of Nigeria (CBN) to discount or rediscount project-tied bonds (specifically, bonds which have been publicly offered for sale with maturity not exceeding three months) issued by state governments, local governments and federal or state corporations.

  • The CBN Governor under the joint provisions of BOFIA and Central Bank of Nigeria Act 2007 has major supervisory roles over banks and their activities in Nigeria.

  • These laws include the Banking Act7 1969, the Nigeria Deposit Insurance Corporation Act No. 16, 2006,8 Central Bank of Nigeria Act 2007,9 the Banks and Other Financial Institutions Act,10 the Consumer Protection Council Act 1992,11 and a host of other regulations.

  • Consequently, this particular processing will need to identify one of the other legal bases for processing as provided in Article2.2 of the NDPR, in order to accord with the requirements of the NDPR.Section 33 of the Central Bank of Nigeria Act, 2007 (“CBN Act”) provides that the CBN may issue guidelines to any person and institution under its supervision.

  • These Revised Guidelines are issued by the CBN in exercise of the powers conferred on it by the Central Bank of Nigeria Act of 2007 [hereinafter referred to as “the CBN Act”] and the Banks and Other Financial Institutions Act of 2004 [hereinafter referred to Act “the BOFIA”].

Related to Central Bank of Nigeria Act

  • Central Bank UCITS Regulations means the Central Bank (Supervision and Enforcement)

  • Central Bank Rules means the UCITS Regulations, Central Bank Regulations and any regulations, guidance and conditions issued by the Central Bank from time to time pursuant to the UCITS Regulations, the Central Bank Regulations and/or the Central Bank Act regarding the regulation of undertakings for collective investment in transferable securities, as such may be amended, supplemented or replaced from time to time;

  • Central Bank Regulations means the Central Bank (Supervision and Enforcement) Act 2013

  • Central Bank means the Central Bank of Ireland;

  • Website of the European Central Bank means the website of the European Central Bank currently at http://www.ecb.europa.eu or any successor website officially designated by the European Central Bank.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Central Bank Rate has the meaning given to that term in the Reference Rate Terms.

  • Municipal Finance Management Act means the Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003);

  • Federal banking agencies means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the National Credit Union Administration, and the Federal Deposit Insurance Corporation.

  • Federal banking agency means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the National Credit Union Administration and the Federal Deposit Insurance Corporation;

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • Mizuho means Mizuho Bank, Ltd.

  • Digital Banking (a) means our present and future online banking services which can be accessed through 365 Online, Business Online, Bank of Ireland Mobile Banking, and services available on www.bankofireland.com; and

  • Local Banking Day means a day (other than a Saturday or Sunday) on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in the place of presentation of the relevant Instrument or, as the case may be, Coupon.

  • Nodal Ministry means the Ministry or Department identified pursuant to this order in respect of a particular item of goods or services or works.

  • Applicable Banking Regulations means at any time the laws, regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency including, among others, those giving effect to the MREL and the TLAC or any equivalent or successor principles, then applicable to Banco Santander and/or the Group including, without limitation to the generality of the foregoing, the CRD IV, the BRRD, the SRM Regulation and those regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency of the Regulator and/or the Relevant Resolution Authority then applicable to Banco Santander and/or the Group including, among others, those giving effect to the MREL and the TLAC or any equivalent or successor principles, in each case to the extent then in effect in the Kingdom of Spain (whether or not such regulations, requirements, guidelines or policies have the force of law and whether or not they are applied generally or specifically to Banco Santander and/or the Group).

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • foreign national means the following:

  • JPMorgan Chase Bank means JPMorgan Chase Bank, N.A. and its successors.

  • Bangladesh Bank means the bank established under Article 3 of the Bangladesh Bank Order, 1972 (P.O. No. 127 of 1972) for the purpose of carrying on the business of the central banking and also includes its successors;

  • EEA national means a national of one of the following countries:

  • UK National means a person who is a British citizen (including persons from the Channel Islands and the Isle of Man), a British subject under Part IV of the British Nationality Act 1981 having the right of abode in the UK or a British Dependent Territories citizen acquiring his/her citizenship from connection with Gibraltar.

  • Banking Act means the UK Banking Act 2009, as amended.

  • Society Act means the Society Act of British Columbia from time to time in force and all amendments to it;

  • Federal Reserve Bank of New York’s Website means the website of the Federal Reserve Bank of New York at xxxx://xxx.xxxxxxxxxx.xxx, or any successor source.

  • European Communities means the European Economic Community, the European Coal and Steel Community and the European Atomic Energy Community.