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LAW AND BANKING DEVELOPMENT IN NIGERIA: AN APPRAISAL

Authors: OLANREWAJU Pius

Publication Type: Journal article

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Abstract

Banking represents one of Nigeriaâ€™s contemporary industries and a major driver of the financial sector. It was established in the later years of the 19th century at the advent of the British in the region for the facilitation of foreign businesses across the shores and within the region. Most notable in this industry are the several changes, strides and remarkable developments over the years, hence the need for a review of the symbiotic relationship between law and banking and propose strategies for growth and optimization of the industry for national goals. This becomes necessary as the Chartered Institute of Bankers of Nigeria celebrates its 50th anniversary. This appraisal would be done from a legal point of view and not the economic which is the natural habitat of the subject â€œbankingâ€. Before the advent of the British however, there existed some form of indigenous practice that had the semblance of the services of banks today. For instance, a similar institution was known to the western part of Nigeria, called the AJO system (among the Yorubas) of saving and keeping money. This system was relied on by those in the indigenous communities. But being indigenous, they were embedded in the customary laws as regards regulations and sanctions. It was thus a lean practice and far from what obtains in todayâ€™s Nigeria.

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OLANREWAJU,P. . (0000). LAW AND BANKING DEVELOPMENT IN NIGERIA: AN APPRAISAL, 0 (), 0-0.

OLANREWAJU,P. . "LAW AND BANKING DEVELOPMENT IN NIGERIA: AN APPRAISAL" 0, no (), (0000): 0-0.

OLANREWAJU,P. and . (0000). LAW AND BANKING DEVELOPMENT IN NIGERIA: AN APPRAISAL, 0 (), pp0-0.

OLANREWAJUP, . LAW AND BANKING DEVELOPMENT IN NIGERIA: AN APPRAISAL. 0000, 0 ():0-0.

OLANREWAJU,Pius , . "LAW AND BANKING DEVELOPMENT IN NIGERIA: AN APPRAISAL", 0 . (0000) : 0-0.

O.Pius , "LAW AND BANKING DEVELOPMENT IN NIGERIA: AN APPRAISAL" vol.0, no., pp. 0-0, 0000.

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