This Act enacted by the National Assembly amends the varuous Acts related to financial matters in Nigeria such as company income tax, personal income tax, fiscal responsibilty and stamp duties.

An Act to regulate banking and other financial institutions and for matters connected therewith.

This document repeals the Banks and other Financial Institutions Act 1991.

This is an Act to establish the National Agency for the Great Green Wall for the implementation of the Great Green Wall Programme in Nigeria. The Act provides for the establishment of a council and duties of the appointed officials. The council has the power to formulate policies for the attainment of the objectives of the agency.

This is a bill for an Act to authorize the issue from the Federal Capital Territory Administrative Statutory Fund of the Federal Capital Territory administration account, the total sum of N271,532,518,887 only, of which the sum of N56,194,171,520 only is for personnel costs and the sum of N57,517,045,738 only, is for overhead costs whilst the balance of N157,821,301,429 only, is for capital projects for the service of the Federal Capital Territory, Abuja, For the financial year commencing from 1st January and ending on 31st December, 2018.

This Act repeals the Debt Management Office (establishment) Act No, 18 of 2003 and enacts the Debt management Bureau Act, 2011 charged with the responsibility, among other things, to maintain a reliable database of all loans taken or guaranteed by the Federal, State Governments, Local Governments or any of their agencies.

This Act provides for secured transactions, registration and regulation of security interests in movable assets. Its objectives are to enhance financial inclusion in Nigeria, stimulate responsible lending to micro, small and medium enterprises, facilitate access to credit secured with movable assets, facilitate perfection of security interests in movable assets and establish a collateral registry and provide for its operations.

This Act provides for the framework for credit reporting, licensing and regulation of credit bureaus. The objectives of this Act are to facilitate and promote access to credit and enhance risk management in credit transaction, to promote access to accurate, fair and reliable credit information and to protect the privacy of such information, set standards and conditions for the establishment, regulation and operations of credit bureaus.

This Act establishes the National Intelligence Agency Pensions Board charged with the responsibility for administering the pensions scheme for personnel of the agency. The Act is in consequence of the exit of the agency from the application of the contributory pension’s scheme under the Pensions Reform Act, 2014.

This is a bill for an Act to authorize the issue from the Federal Capital Territory Administrative Statutory Fund of the Federal Capital Territory administration account, the total sum of N222,360,551,512 only, of which the sum of N52,574,479,667 only is for personnel costs and the sum of N40,460,373,354 only, is for overhead costs whilst the balance of N129,325,698,492 only, is for capital projects for the service of the Federal Capital Territory, Abuja, For the financial year commencing from 1st January and ending on 31st December, 2017.

This is a bill for an Act to authorize the issue from the Federal Capital Territory Administrative Statutory Fund of the Federal Capital Territory administration account, the total sum of N241,455,285,471 only, of which the sum of N52,982,280,360only is for personnel costs and the sum of N34,388,260,823 only, is for overhead costs whilst the balance of N154,084,744,288 only, is for capital projects for the service of the Federal Capital Territory, Abuja, For the financial year commencing from 1st January and ending on 31st December, 2016.

This bill proposes major fiscal reforms to promote fiscal equity by mitigating instances of regressive taxation, reform domestic tax laws, introduce tax incentives for investments in infrastructure and the capital market, support small businesses in line with the ongoing Ease of Doing Business reforms and raise revenues for the government by various fiscal measures including a proposed increase in the rate of Value Added Tax from 5% to 7.5%.

An Act to make provisions for establishment and licensing of mortgage institutions to grant loans and advance to individuals for the purchase or construction of a dwelling house; improvement or extension of an existing dwelling house; and to accept savings and deposits from members of the public and to pay interest thereon. This act provides for the licensing of mortgage institutions and lays down rules for mortgage business by licensed mortgage institutions. If any company intends to carry on mortgage business in Nigeria, it shall apply in writing through the Federal Mortgage Bank to the Minister for the grant of a licence in accordance with the following provisions of this act. Every mortgage institution shall submit to the Federal Mortgage Bank such returns as specified. The Federal High Court shall have jurisdiction to try all offences created under this act.

This is an Act to establish the Federal Mortgage Bank of Nigeria to provide long-term credit facilities to mortgage institutions in Nigeria and encourage and promote the development of mortgage institutions at the rural, local, state and federal levels. This act provides for the establishment of Federal Mortgage Bank of Nigeria and its board of directors. The functions of the mortgage bank shall be to, among other things: (a) provide long-term credit facilities to mortgage institutions in Nigeria at such rates and such terms as may be determined by the board in accordance with the policy directed by the Federal Government, being rates and terms designed to enable the mortgage institutions to grant comparable facilities to Nigerian individuals desiring to acquire houses of their own; (b) license and encourage the emergence and growth of the required number of viable secondary mortgage institutions to service the need of housing delivery in all parts of Nigeria; (c) encourage and promote the development of mortgage institutions at rural, local, state and federal levels; (d) supervise and control the activities of mortgage institutions in Nigeria.

This is an Act to provide for the establishment of community banks and for matters connected therewith. It provides for the establishment of the National Board for Community Banks, etc. It also states the functions of the Board, it includes responsibility for accepting and processing applications for the setting up of banks throughout Nigeria, incorporating banks as private companies with membership of fifty or more persons and determining the amount of fees to be paid from time to time, undertaking such other activities as are necessary or expedient for giving full effect to the provisions of this act etc.

This is an Act to amend the Mortgage Institutions Act cap M19, laws of the Federation of Nigeria, 2004 by reviewing the prescribed penalties, and for related matters.

This is an act to amend the Utilities Charges Commission act Cap U17, laws of the Federation of Nigeria, 2004 to review the fines stipulated for offences under the act and for related matters.

The Nigerian banking sector witnessed dramatic growth post consolidation (2005) and the developments posed a lot of challenges for the industry and for regulation. The initial perceptions that the Nigerian banking system was sound and insulated from global financial crisis were misplaced. The factors that led to the creation of an extremely fragile financial system that was tipped into crisis by the global financial meltdown include: Macro-economic instability caused by large and sudden capital outflows, Major failures in corporate governance at Banks, Lack of investor and consumer sophistication, Uneven supervision and enforcement. In order to address this challenges, Central Bank of Nigeria introduced a four-pillar reform programme towards enhancing the quality of banks, establishing financial stability, enabling healthy financial sector evolution, and ensuring the financial sector contributes to the real economy. In this regard, the revised prudential guidelines aim to address various aspects of Banks’ operations, such as risk management, corporate governance, KYC and anti-money laundering/ counter financing of terrorism and loan loss provisioning. The guidelines also aim to address the peculiarities of different loan types and financing to different sectors.

Loans are an important source of financial relief for individuals and companies. They provide an alternative source of income that assists in meeting personal needs and achieving business expansion. This document educates financial consumers on the importance of loans, the types of loans (secured and unsecured loan), sources of loan, types of collateral, and eligibility for loans, repayment of loans, defaults and consequences. The revised Prudential Guidelines aim to address various aspects of banks’ operations, such as risk management, corporate governance, KYC and anti-money laundering/ counter financing of terrorism and loan loss provisioning. The guidelines also aim to address the peculiarities of different loan types and financing to different sectors.

In order to enhance the efficiency and cost-effectiveness of currency management, facilitate the generation of fit Naira banknotes for payment, promote the use of shared facilities to drive down currency management cost, engender healthy competition among service providers and ensure product quality, integrity and standardization in Nigeria, The Central Bank of Nigeria (CBN) mandates all companies, including deposit money banks, who are desirous of providing currency distribution and/or currency processing services in Nigeria, either for themselves or for other Deposit Money Bank(s) to register with The Central Bank of Nigeria. Therefore, this document provides information on the requirements for registration. It includes cash-in-transit operations, currency processing companies’ operations, registration of prospective companies and method of submission of application for registration.