No clue sorry
No
The National Bank Act of 1863
NO
The affiliated banks are subsidiaries of the parent banks. The rural banks, co-operative banks are affiliated to nationalised/government banks and work in liason with them. The directives and principles of the parent banks are to be followed by them in framing credit, loan disbursal policies in their specified areas of activities.
Specialized banks are foreign exchange banks, industrial banks, development banks, export-import banks catering to specific needs of these unique activities. These banks provide financial aid to indutries, heavy turnkey projects and foreign trade.
the federal sever
the federal sever
In general banks lend money and pay interest on savings. The large banks often are in insurance and fiancial planning as well, thus some banks do more than normal banking activities.
The Glass-Steagall Banking Act of 1933 was designed to curb the activities of banks relating to securities (stock) speculation. It established restrictions on investments by banks. Much later, interpretations of these reforms again allowed banks and their holding corporations to engage in numerous investment activities. It also established the FDIC (Federal Deposit Insurance Corporation) which insures the deposits that individuals make in federally-chartered banks.
Some of the major activities/services provided by banks are: a. Checking/Current account b. Savings accounts c. ATM Cards d. Check Books e. Deposit Accounts f. Loans g. Credit Cards etc
Currently there are about 25 licensed commercial banks in Nigeria, these banks have been givenn license to carry out different commercial banking activities in Nigeria, however, it should be noted that there are other banking institutions (mortgage, microfinance etc) that also carry out different forms of banking activities in the country Their activities as related economy growth can be found here:
Erosion of the river banks altering the course; deposition of gravel, sand and mud in calmer stretches; obstructing of the river mouth with sand-bars forming in the estuary and inshore.