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Bullion

Keywords

Financial sector, Financial institutions, Regulation and supervision

Abstract

Since the 1980s, there has been international consensus on the issue of adequate regulation and supervision of the financial sector (and, in particular, banking institutions) and this issue have featured prominently in many international fora where discussions have centred on the operations/health of the financial sector, whether in developed or developing countries. This paper focusses attention on the institutional framework for the regulation and supervision of the financial sector in Nigeria. It attempts to identify the various institutions that make up the financial sector and articulates how they are regulated and supervised and who has responsibility for what, so as to understand the relationships that exist among the regulatory and supervisory agencies. The study reveals that the evolution of Nigeria's institutional framework for regulating and supervising financial institutions was briefly discussed noting that regulatory/supervisory responsibility has varied overtime depending on the political and economic conditions of the country.

Author Bio

The author is a staff of the Central Bank of Nigeria.

Publication Title

CBN Bullion

Issue

1

Volume

28

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