The History and Evolution of Banking in Nigeria
Nigeria Banking History All started in the nineteenth century when Elder Dempster Company bought in a foreign owned bank into Lagos. Standard Bank Nigeria Limited (Now First Bank PIC) In…
Posted inEconomics
Money: Definition, History, Features Functions of Good Money
Money is any tangible commodity which is generally acceptable as a medium of exchange for goods and services or for purposes of settling debts within a given society/community.
Posted inEconomics
Stock Exchange Market: Definition, Functions & Examples
The stock exchange market is a market which deals with the buying and selling of long term financial assets (securities) such as stocks and shares.
Central Bank: Definition, Features, Functions & Examples
A Central Bank is a National Government owned apex financial institution which controls and supervises the entire monetary system of a country. It assists, directs and regulates the activities of other financial institutions to make them comply with government monetary and economic policies.
Problems of Financial Institutions in Nigeria
Financial Institutions are business organizations which deal in money, though some may deal in other financial assets such as shaves, letters of credit, bills of exchange etc. With the exception of the Central Bank, they make profits by trading in money; that is, through the process of accepting deposits in several ways e.g. offering technical advice etc.