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Money Market Association of Nigeria

by Nigerian Information Directory on December 19, 2009 · 0 comments

Association of Nigeria (the Association) was until recently, an Association of the Treasurers of licensed and Discount Houses in Nigeria.

Its history is embedded in the history of the money market itself. However, in 1976/77 an informal body was started and was formalized and registered on May 12, 1989 under the Land (perpetual Act) Cap 98 with registration No. 5373.

Vision:

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Securities and Exchange Commission

by Nigerian Information Directory on December 14, 2009 · 0 comments

sec (SEC), Nigeria is the apex regulatory institution of the Nigerian capital market supervised by the Federal .

The Commission has evolved over time having started with the establishment of the Capital Issues Committee in 1962 by the government as an essential arm of the . This was purely an ad-hoc, non-statutory committee, which later metamorphosed into SEC in 1978, following a comprehensive review of the Nigerian financial system, with the promulgation of SEC Decree No. 71 of 1979. Successive reviews of this earlier enactment led to the introduction of a new legislation, the Investments and Securities Act (ISA) No 45 of 1999.

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Nigeria Deposit Insurance Corporation

by Nigerian Information Directory on December 14, 2009 · 1 comment

ndic () has its origin in the report of a committee set up in 1983 by the Board of (CBN), to examine the operations of the banking system in Nigeria. The Committee in its Report recommended the establishment of a Depositors Protection Fund. Consequently, the Nigeria Deposit Insurance Corporation was established through the promulgation of Decree No. 22 of 15 th June 1988.

This was part of the economic reform measures taken by the then government, to strengthen the safety net for the banking sector following its liberalization policy and the introduction of the 1986 Structural Adjustment Programme (SAP) in Nigeria.

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National Insurance Commission

by Nigerian Information Directory on December 11, 2009 · 3 comments

National Insurance Commission is the apex regulatory body for the Insurance in Nigeria backed by an enabling Decree 1&2 of 1997 and further the insurance Act 2003.  The supervisory and regulatory environment of Nigerian Insurance is closely monitored and streamlined by the Commission in order to set a healthy standard in the insurance .

The National Insurance Commission in Nigeria resides within the Federal which is responsible for the management and control of all finances of the Nigerian Federal Government, as prescribed by the constitution of the country

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Nigerian Accounting Standards Board

by Nigerian Information Directory on December 11, 2009 · 1 comment

nasbNigerian Standards Board (NASB) came into being on September 9, 1982. It is the only recognised independent body in Nigeria responsible for the development and issuance of Statements of Accounting Standards for users and preparers of financial statements, investors, commercial enterprises and regulatory agencies of government.

The work of the NASB is similar to those of other National Accounting Standard Setting bodies like the Financial Accounting Standards Board, USA; Accounting Standards Board, UK; Australian Accounting Research Foundation, Australia, etc.

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Bank of Industry Limited

by Nigerian Information Directory on December 10, 2009 · 3 comments

bankofindustryBank of Limited (BOI) was established in October, 2001 following the reconstruction of the Nigerian Industrial Development Bank Limited (NIDB). The Bank has since undergone a fundamental restructuring programme as a result of which its future prospects are very bright.

We now have an institution that is positioned to carry out its mandate efficiently, and that can stand the test of time. In addition to fulfilling its mandate, BOI has been firmly placed on the path of sustainable financial performance, and should provide good financial returns to its shareholders in the years.

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Nigerian Agricultural Insurance Corporation

by Nigerian Information Directory on December 10, 2009 · 0 comments

Nigerian Agricultural Insurance Corporation is wholly owned by the Federal Government of Nigeria. It was establish in 1987 to provide risk cover to Nigerian farmer’s. It is also the only existing insurance company owned by the Federal Government due to its unique socio–economic benefits to the populace.

The need for a specialized Agricultural Insurance Company to provide insurance cover to farmers was informed by Government’s concern over the vacuum created due to the unwillingness of conventional Insurers to accept Agricultural risks which they considered too risky. The implementation of the scheme was thus initially vested in the Nigerian Agricultural Insurance Company limited, which later turned into a corporation in 1993 by enabling decree No. 37 of 1993.

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Federal Ministry of Finance

by Nigerian Information Directory on December 6, 2009 · 4 comments

nigeriaThe of Finance was established in 1958 by the Finance (Control and Management) Ordinance, to replace the then Finance Department.

The Ordinance conferred on the Ministry the responsibility for the control and Management of the public finance of the Federation.

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