Banks and Other Financial Institutions Act (BOFIA) 1991

Central Bank of Nigeria Act
Summary

Repealed the Banking Decree 1969 and extended CBN's regulatory powers to cover new financial institutions, strengthening monetary policy, regulation and supervision. Historical precursor to BOFIA 2020 (cb-16), which repealed and replaced it.

Applicability

Historical: all banks and other financial institutions (see BOFIA 2020).

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Document Details
Date Issued
01 Jan 1991
Date Effective
01 Jan 1991
Compliance Deadline
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