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- W3136162925 abstract "In February 2016, the Central Bank of Nigeria (CBN) released the Guidelines for Banking Operations in the Free Zones in Nigeria 2016(CBN Guidelines) to regulate banking operations in the free zones in Nigeria. It is argued that the CBN’s approach is lawful, in the sense that any bank which now desires to carry out banking operations in any Free Trade Zone (FTZ) would now, in addition to the FTZ authorisation from Nigeria Export Processing Zones Authority require banking license from CBN. To the contrary, it is contended that the CBN cannot, by mere guidelines, declare that banks carrying on business in the FTZs are no longer branches of Nigerian banks but full-fledged separate businesses. This article examines these views in the light of existing legal framework in Nigeria. The article recommends that the CBN acts within the exact ambit of its powers under the law to avoid its actions being declared ultra vires its powers." @default.
- W3136162925 created "2021-03-29" @default.
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- W3136162925 date "2016-03-01" @default.
- W3136162925 modified "2023-09-27" @default.
- W3136162925 title "Central Bank of Nigeria 2016 Guidelines for Banking Operations in the Free Trade Zones: Need for Caution" @default.
- W3136162925 hasPublicationYear "2016" @default.
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