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Central Bank of Nigeria
Nigeria
1958 (67 Years)
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What are the differences in regulations for each
License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Company Information
Get to know Central Bank of Nigeria
Company Information
Get to know Central Bank of Nigeria
The Central Bank of Nigeria is charged with the responsibility of administering the Nigerian financial institutions. The bank implements monetary and exchange rate policies and manages the financial sector of the country. Its services include issuing legal tender currency; maintaining external reserves; safeguarding the international value of the legal tender currency; promoting monetary stability and a sound financial system in Nigeria; and acting as banker and financial adviser to the federal government. In 1977, Dr Mrs. Seinye O.B. Lulu-Briggs joined the Design Research Centre, a private firm, in the capacity of Office Manager. This experience helped her enter the financial sector when she joined the Central Bank of Nigeria as a Youth Corporation Member in 1982. Within one year, she was promoted to the position of Senior Supervisor to Assistant Data Centre Manager. She worked in the company for eight years, in total, and quit the job in 1990 as the Head of Computer operations. Central Bank of Nigeria was founded in 1958 and is headquartered in Abuja, Nigeria.
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- Financial BankingPRIMARY
- Financial Other Service
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