• About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, June 3, 2025
Daily Concord News
  • Home
  • News
    • All
    • Africa
    • local
    • Nigeria
    • Science
    • World
    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Wale Edun Leads Call for Customs Reform to Unlock Regional Trade Potential

    Wale Edun Explains: “Borrowing is expected to Fund Strategic Projects, Not Inflate Debt Burden”

    Wale Edun Rallies Private Sector to Deliver ₦1.5 Trillion Highway Investments

    ICIEC Endorses Nigeria’s Infrastructure Drive, Commits to Enhanced Private Sector Participation

    Investor Confidence in Nigeria Deepens as Renaissance Capital Visits Finance Minister

    Wale Edun and Nigeria’s Economic Turnaround: A Case for Renewed Confidence

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

  • Politics
  • Business
  • Sports
  • Entertainment
    • All
    • Gaming

    Timipre Sylva Inaugurates the National Gas Expansion Programme, Committee

  • Tech
    NASENI Excited Over President Tinubu’s “Nigeria First Policy”

    NASENI, PICTT Restate Commitment to Promote Female Engineering with Launch of DELT-Her 2.0

    NASENI Champions the Made-in-Nigeria Products Drive in Kebbi State

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    DG NITDA Urges Computer Sciences Students to Drive ICT Innovation

    How To Apply For Bridge To MassChallenge Nigeria 2021

    How To Apply For Bridge To MassChallenge Nigeria 2021

    Trending Tags

  • Lifestyle
    • All
    • Culture
    • Food
    • Health
    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    The Unifying Factor of Culture

    Examining Arts as a Unifying Elements

    The Unifying Factor of Culture

    The Unifying Factor of Culture

    Senate President Greets Asiwaju Bola Tinubu @69

    Senate President Greets Asiwaju Bola Tinubu @69

    Trending Tags

  • Opinion
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • local
    • Nigeria
    • Science
    • World
    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Wale Edun Leads Call for Customs Reform to Unlock Regional Trade Potential

    Wale Edun Explains: “Borrowing is expected to Fund Strategic Projects, Not Inflate Debt Burden”

    Wale Edun Rallies Private Sector to Deliver ₦1.5 Trillion Highway Investments

    ICIEC Endorses Nigeria’s Infrastructure Drive, Commits to Enhanced Private Sector Participation

    Investor Confidence in Nigeria Deepens as Renaissance Capital Visits Finance Minister

    Wale Edun and Nigeria’s Economic Turnaround: A Case for Renewed Confidence

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

  • Politics
  • Business
  • Sports
  • Entertainment
    • All
    • Gaming

    Timipre Sylva Inaugurates the National Gas Expansion Programme, Committee

  • Tech
    NASENI Excited Over President Tinubu’s “Nigeria First Policy”

    NASENI, PICTT Restate Commitment to Promote Female Engineering with Launch of DELT-Her 2.0

    NASENI Champions the Made-in-Nigeria Products Drive in Kebbi State

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    DG NITDA Urges Computer Sciences Students to Drive ICT Innovation

    How To Apply For Bridge To MassChallenge Nigeria 2021

    How To Apply For Bridge To MassChallenge Nigeria 2021

    Trending Tags

  • Lifestyle
    • All
    • Culture
    • Food
    • Health
    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    The Unifying Factor of Culture

    Examining Arts as a Unifying Elements

    The Unifying Factor of Culture

    The Unifying Factor of Culture

    Senate President Greets Asiwaju Bola Tinubu @69

    Senate President Greets Asiwaju Bola Tinubu @69

    Trending Tags

  • Opinion
No Result
View All Result
Daily Concord News
No Result
View All Result
Home Business

President Buhari Assents to Banks and Other Financial Institutions Act 2020

Tunde Abiola by Tunde Abiola
November 13, 2020
in Business, local, News, Politics
0
0
SHARES
120
VIEWS
Share on FacebookShare on Twitter

President Muhammadu Buhari on Thursday, November 12, 2020 assented to the Banks and Other Financial Institutions Act 2020. 

It repeals the extant Banks and Other Financial Institutions Act 1991 as amended. This monumental piece of legislation is expected to enhance the soundness and resilience of the financial system for sustainable growth and development of the Nigerian economy.

The BOFI Act 2020 updates the enabling law in response to developments and significant evolution in the financial sector over the last two decades. It will increase the appetite of banks and other financial institutions to channel much needed credit to the real sector to support economic recovery and promote sustainable growth. 

In this respect, it introduces a credit tribunal to improve loan recovery and address the incidence of high non-performing loans within the financial system, which has been a key deterrent to lending by financial institutions. 

Furthermore, it strengthens the regulatory and supervisory framework for the financial industry and provides additional tools for managing failing institutions and systemic distress to preserve financial stability amongst others. The Central Bank of Nigeria will hold structured engagements with stakeholders across various sectors of the economy on critical aspects of the Act in the coming months.

This enactment of the BOFI Act 2020 is a historic and significant achievement, which is indicative of effective and productive collaboration between the Executive and Legislature arms of Government.

Garba Shehu

Senior Special Assistant to the President (Media & Publicity)

Tags: Banks and Other Financial Institutions Act 2020BillBuhari
Previous Post

We Will Resist Any Planned Protest in Lagos – Police

Next Post

President Buhari Approves Federal Science and Technical College for Imo State

Tunde Abiola

Tunde Abiola

Next Post

President Buhari Approves Federal Science and Technical College for Imo State

  • Trending
  • Comments
  • Latest

NIN-SIM Linkage: A Kidnappers’ Bogeyman On The Roll?

April 5, 2024 - Updated on February 9, 2025

How Atiku’s Lawyer’s Travelled To Cambridge To Confirm Buhari’s Certificate – And The Disappointment That Followed

September 6, 2019 - Updated on February 9, 2025

Vanguard Apologizes To Professor Osinbajo Over Fake News, Retracts Story

September 25, 2019 - Updated on February 9, 2025

I Will Waive my Constitutional Immunity to Clear my Name – Osinbajo

September 25, 2019 - Updated on February 9, 2025
Nigeria

Lest We Forget: Security Issues in Nigeria from 1999 to Date!

0
ISHA SESAY: A GOOD BOOK ON CHIBOK, HAMPERED BY MISREPRESENTATIONS

ISHA SESAY: A GOOD BOOK ON CHIBOK, HAMPERED BY MISREPRESENTATIONS

0
Ministerial list: Nigerians react to Buhari’s nomination of Akpabio, Keyamo, Saraki, others

Ministerial list: Nigerians react to Buhari’s nomination of Akpabio, Keyamo, Saraki, others

0
Channels TV Reporter Precious Owolabi Shot During Shiite, Police Clash Is Dead

Channels TV Reporter Precious Owolabi Shot During Shiite, Police Clash Is Dead

0

Two Years Of Nigeria’s Foreign Policy Under The Administration of President Bola Ahmed Tinubu: An Informed Commentary

June 3, 2025
Why I Share in Wale Edun’s Optimism On The Nigerian Economy

Moody’s Upgrades Nigeria’s Credit Rating Amid Reform Gains, Investor Confidence Grows

June 2, 2025
Beyond the Policy: How NASENI is Powering the Nigeria First Movement

Beyond the Policy: How NASENI is Powering the Nigeria First Movement

June 1, 2025
At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

May 29, 2025

Recent News

Two Years Of Nigeria’s Foreign Policy Under The Administration of President Bola Ahmed Tinubu: An Informed Commentary

June 3, 2025
Why I Share in Wale Edun’s Optimism On The Nigerian Economy

Moody’s Upgrades Nigeria’s Credit Rating Amid Reform Gains, Investor Confidence Grows

June 2, 2025
Beyond the Policy: How NASENI is Powering the Nigeria First Movement

Beyond the Policy: How NASENI is Powering the Nigeria First Movement

June 1, 2025
At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

May 29, 2025
Daily Concord News

Bringing the most intriguing News from around the world you everyone in a positive way

Follow Us

Browse by Category

  • Africa
  • Basketball
  • Business
  • Culture
  • Economy
  • Education
  • Food
  • Football
  • Foreign Affairs
  • Gaming
  • Health
  • Health
  • Interviews
  • Lifestyle
  • local
  • News
  • Nigeria
  • Opinion
  • Politics
  • Science
  • Security
  • Sports
  • Tech
  • Uncategorized
  • World

Recent News

Two Years Of Nigeria’s Foreign Policy Under The Administration of President Bola Ahmed Tinubu: An Informed Commentary

June 3, 2025
Why I Share in Wale Edun’s Optimism On The Nigerian Economy

Moody’s Upgrades Nigeria’s Credit Rating Amid Reform Gains, Investor Confidence Grows

June 2, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Daily Concord News - All Rights Reserved.

No Result
View All Result

© 2025 Daily Concord News - All Rights Reserved.