Section 132: Citation.

This Act may be cited as the Banks and Other Financial Institutions Act, 2020.
I, certify, in accordance with Section 2 (1) of the Acts Authentication Act, Cap. A2, Laws of the Federation of Nigeria 2004, that this is a true copy of the Bill passed by both Houses of the National Assembly.
0JO, O. A., mnia, arcon, fcia
Clerk 10 the National Assembly 13th Day of October, 2020.
EXPLANATORY MEMORANDUM
This Act, among other things, regulates banking and business of other financial institutions by prohibiting the canying on of such businesses in Nigeria without a licence and by a company incorporated in Nigeria. This Act also makes adequate provisions regarding the proper regulation and supervision of such institutions by the Central Bank of Nigeria.