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Savannah Bank
The Savannah Bank is a Nigerian bank whose license was withdrawn in February 2002 and restored in February 2009 after protracted legal battles. An investor, International Resource Associates of London, bought 67.35% of the shares of Savannah Bank in 1999, and on 14 April 2000, the bank came under new management. Some prominent people associated with the bank were Senator Jim Nwobodo, a shareholder and chairman, Senator Felix Kolawole Bajomo, an executive director, and Shettima Mustapha, a Federal Minister and board member, but not a shareholder. The Savannah Bank was among Nigeria's top 10 financial institutions. The bank's licence was withdrawn by the Central Bank of Nigeria (CBN) on 15 February 2002. The CBN Governor Joseph Oladele Sanusi said the bank did not have enough assets to meet liabilities, did not comply with CBN obligations, and that the regulators had been unable to prevent further deterioration. The Nigeria Deposit Insurance Corporation took over as liquidator, se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savannah Bank Logo
A savanna or savannah is a mixed woodland-grassland (i.e. grassy woodland) ecosystem characterised by the trees being sufficiently widely spaced so that the canopy does not close. The open canopy allows sufficient light to reach the ground to support an unbroken herbaceous layer consisting primarily of grasses. According to '' Britannica'', there exists four savanna forms; ''savanna woodland'' where trees and shrubs form a light canopy, ''tree savanna'' with scattered trees and shrubs, ''shrub savanna'' with distributed shrubs, and ''grass savanna'' where trees and shrubs are mostly nonexistent.Smith, Jeremy M.B.. "savanna". Encyclopedia Britannica, 5 Sep. 2016, https://www.britannica.com/science/savanna/Environment. Accessed 17 September 2022. Savannas maintain an open canopy despite a high tree density. It is often believed that savannas feature widely spaced, scattered trees. However, in many savannas, tree densities are higher and trees are more regularly spaced than in for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jim Nwobodo
James Ifeanyichukwu Nwobodo (born 9 May 1940) is a Nigerian businessman and politician who was governor of Anambra State (1979–1983) during the Nigerian Second Republic and was Senator for Enugu East Senatorial District in Enugu State (1999–2003). In 2003, he ran unsuccessfully in the Nigerian Presidential elections. Background Jim Ifeanyichukwu Nwobodo was born on 9 May 1940 in Agyaragu, Lafia, Nassarawa State. He completed his secondary school education in 1956 at Government School, Awka in what is now Anambra State, then attended St. Peter's College, Zaria (1956–1959). He went on to the Nigerian College of Arts, Science and Technology, first at Enugu and then at Ibadan, and then attended the University College Ibadan (1961–1964), earning a BA in English. After graduation, Jim Nwobodo was employed as a tutor in the King's College, Lagos (1964–1966). He then took a job in the Personnel department with the Shell Company of Nigeria (1966–1970). After the Nigeria ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Felix Kolawole Bajomo
Felix Kolawole Bajomo (; born 7 January 1947) is a Nigerian accountant and politician who was elected a member of the Senate for the Ogun West constituency of Ogun State in April 2007. Background Felix Kolawole Bajomo was born on 7 January 1947. He is a fellow of the Association of Cost and Management Accountants (ACMA) and associate member of the Association of Chartered Stockbrokers (ACS). Before entering politics, he was managing director, Commercial Trust Bank; Executive Director, Union Bank; Executive Director, Savannah Bank, and Chairman of the Federal Housing Authority (2005–2006). He was at one time Chairman of Gateway Hotels. He also held the position of President of the Institute of Chartered Accountants of Nigeria (ICAN). In 2003, Bajomo ran as the Alliance for Democracy candidate for the Ogun West senate seat, but was defeated by Iyabo Anisulowo, former Minister of State for Education between 1995 and 1998 under the Sanni Abacha administration. In January 2005 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shettima Mustapha
Shettima Mustafa (26 November 1939 – 17 November 2022) was a Nigerian academic and politician. After an early career in medicine, local administration, and media, Mustafa studied agriculture at university, eventually earning a Doctor of Philosophy degree. He became a commissioner in Borno State and joined the Nigerian People's Party, becoming their vice-presidential candidate in 1983. He was jailed after the military coup of December 1983 led by Muhammadu Buhari. After his release in 1985 he taught agriculture at the University of Maiduguri and became head of the Jos region of the Federal Ministry of Agriculture. Mustafa served as Minister of Agriculture from 1990 to 1992, and in 2007 was appointed Minister of Defence in the cabinet of President Umaru Yar'Adua. In 2008 he became Minister of the Interior but left office with the 2010 dissolution of the cabinet. Background Shettima Mustafa was born on 26 November 1939 in Nguru, now in Yobe State. He attended Borno middle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Nigeria
The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country, promote monetary stability and a sound financial environment, and act as a banker of last resort and financial adviser to the federal government. The central bank's role as lender of last resort and adviser to the federal government has sometimes pushed it into murky regulatory waters. After the end of imperial rule the desire of the government to become pro-active in the development of the economy became visible especially after the end of the Nigerian civil war, the bank followed the government's desire and took a determined effort to supplement any show shortfalls, credit allocations to the real sector. The bank became involved in lending directly to consumers, contravening its original ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Oladele Sanusi
Chief (Dr.) Joseph Oladele Sanusi (born 24 September 1938) is a Nigerian chartered accountant who was Governor of the Central Bank of Nigeria from May 1999 to May 2004. Background and qualifications Sanusi was born on 24 September 1938 in Ogbagi-Akoko, Ondo State, Nigeria. He studied at South West London College and Kingston College of Technology, England from 1962 to 1965, qualifying as a Chartered Accountant. He became a member of the Institute of Chartered Accountants of Nigeria (ICAN) in 1969, and became a fellow of the Nigerian Institute of Bankers in 1987. Career Sanusi worked first as an Accountant in England, then with the Department of Customs and Excise in Nigeria. He joined the Central Bank of Nigeria (CBN) in 1966 as a Deputy Manager. He became a Departmental Director in 1977, Chief Executive of the Securities and Exchange Commission (1978–1979), Executive Director, Monetary and Banking Policy (1979–1984), and Deputy Governor (1988–1990). Sanusi left the C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nigeria Deposit Insurance Corporation
The Nigeria Deposit Insurance Corporation (NDIC) is a statutory body established by NDIC Act No. 16 of 2006 with exclusive mandate of administering the Deposit Insurance System (DIS) in Nigeria. As one of the components of the nation’s financial safety-net arrangement, the NDIC has the responsibility of protecting depositors and guaranteeing the payment of insured sums when the license of a deposit-taking financial institution is revoked by the Central Bank of Nigeria (CBN).. Organization The NDIC is a parastatal under the Nigerian Ministry of Finance. The corporation is charged with protecting the banking system from instability occasioned by runs and loss of depositors' confidence. It operates under the Nigeria Deposit Insurance Corporation Act (1990). The NDIC is a member of the Financial Reporting Council of Nigeria. The NDIC complements the regulatory and supervisory role of the Central Bank of Nigeria (CBN), although it reports to the Federal Ministry of Finance. The NDIC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abuja
Abuja () is the capital and eighth most populous city of Nigeria. Situated at the centre of the country within the Federal Capital Territory (FCT), it is a planned city built mainly in the 1980s based on a master plan by International Planning Associates (IPA), a consortium of three American planning and architecture firms made up of Wallace, Roberts, McHarg & Todd (WRMT – a group of architects) as the lead, Archisystems International (a subsidiary of the Howard Hughes Corporation), and Planning Research Corporation. The Central Business District of Abuja was designed by Japanese architect Kenzo Tange. It replaced Lagos, the country's most populous city, as the capital on 12 December 1991. Abuja's geography is defined by Aso Rock, a monolith left by water erosion. The Presidential Complex, National Assembly, Supreme Court and much of the city extend to the south of the rock. Zuma Rock, a monolith, lies just north of the city on the expressway to Kaduna. At the 2006 ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank was founded in San Francisco. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the second largest bank in the world by market capitalization. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking. One branch of its history stretches back to the U.S.-based Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination. Originally headquartered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In Nigeria
This is a list of commercial banks with International Authorization in Nigeria, arranged alphabetically: # Access Bank Plc # Fidelity Bank Plc # First City Monument Bank Limited # First Bank of Nigeria Limited # Guaranty Trust Holding Company Plc # Union Bank of Nigeria Plc # United Bank for Africa Plc # Zenith Bank Plc This is a list of commercial banks with National Authorization in Nigeria, arranged alphabetically: # Citibank Nigeria Limited # Ecobank Nigeria # Heritage Bank Plc # Keystone Bank Limited # Polaris Bank Limited. The successor to Skye Bank Plc. # Stanbic IBTC Bank Plc # Standard Chartered # Sterling Bank Plc # Titan Trust Bank Limited # Unity Bank Plc # Wema Bank Plc This is a list of commercial banks with Regional Authorization in Nigeria, arranged alphabetically: # Globus Bank Limited # Parallex Bank Limited # PremiumTrust Bank Limited # Providus Bank Limited #SunTrust Bank Nigeria Limited This is a list of non-interest banks in Nigeria, arranged ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Nigeria
The Economy of Nigeria is a middle-income, mixed economy and emerging market with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. It is ranked as the 27th-largest economy in the world in terms of nominal GDP, and the 24th-largest in terms of purchasing power parity and the largest Sub Saharan Africa’s economy. Nigeria has the largest economy in Africa. The country's re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the region of West Africa. In addition, the debt-to-GDP ratio. Nigerian GDP at purchasing power parity (PPP) has almost tripled from $170 billion in 2000 to $451 billion in 2012 ,though estimates of the size of the informal sector (which is not included in official figures) put the actual numbers closer to $630 billion. Subsequently, the GDP per capita doubled from $1400 per person in 2000 to an estimated $2,800 per person ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Nigeria
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
