In any economy, the financial sector is the hub of productive activity. It comprises of an impressive network of banks and other financial institutions and a wide range of financial instruments. In Nigeria, the financial system is made of financial institutions, such as banks, insurance companies, specialized banks, capital market, finance companies, discount houses, bureau de change, mortgage institutions, community banks, and the development finance institutions (DFIs), each covering a particular area of activity or activities.
The financial sector performs the core function of financial intermediation, adequate payment services as well as the fulcrum for monetary policy implementation. Nigeria’s banking sector is the second-largest in sub-Saharan Africa behind South Africa and at Bridgeforte Attorneys, we ensure that our clients are guided properly into making the right decisions that will be beneficial to their business.