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Economic & Sector Work :: Financial Sector Assessment Program (FSAP)

Financial Sector Assessment Program : Nigeria - Basel Core Principles for Effective Banking Supervision

ACCOUNTABILITY ACCOUNTING ACCOUNTING POLICIES ACCOUNTING PRINCIPLES ACCOUNTING STANDARDS ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET PORTFOLIOS ASSET QUALITY AUDITING AUDITS AUTONOMY BALANCE SHEET BANK ACCOUNTING BANK EXAMINATION BANK HOLDING BANK HOLDING COMPANIES BANK HOLDING COMPANY BANK REGULATION BANK SUPERVISION BANKING CRISIS BANKING SECTOR BANKING SECTOR ASSETS BANKING SECTORS BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BANKS BROKERAGE BROKERAGE FIRMS CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL BASE CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKETS CAPITAL REQUIREMENTS CENTRAL BANK COLLATERAL COMMERCIAL BANK COMMERCIAL BANK CREDIT COMMERCIAL BANKS COMMUNITY BANKS CONFLICTS OF INTEREST CONSOLIDATED SUPERVISION CONSOLIDATION CONSUMER PROTECTION CORPORATE GOVERNANCE CREDIT BUREAU CREDIT BUREAUS CREDIT EXPANSION CREDIT GROWTH CREDIT LINES CREDIT RISK CREDIT RISK EXPOSURE CREDIT RISK EXPOSURES CREDIT RISK MANAGEMENT CREDITORS CURRENCY CURRENCY DEVALUATION DEBT DEBTS DEPOSIT DEPOSIT INSURANCE DEPOSIT MONEY BANK DEPOSITORS DERIVATIVES DEVELOPMENT FINANCE DIRECT INVESTMENT DOMESTIC BANKS DUE DILIGENCE ECONOMIC DEVELOPMENT EQUITY MARKET EXCHANGE COMMISSION EXTERNAL AUDITORS FINANCIAL CONGLOMERATES FINANCIAL CRISIS FINANCIAL DEEPENING FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL STRENGTH FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FISCAL DISCIPLINE FISCAL POLICY FOREIGN BANK FOREIGN BANKS FUND MANAGERS GOVERNMENT REVENUE GOVERNMENT SECURITIES HOLDING HOLDING COMPANIES INADEQUATE DISCLOSURE INDEPENDENT JUDICIARY INFLATION INFORMATION SYSTEMS INFORMATION TECHNOLOGY INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INSURANCE CORPORATION INSURED DEPOSITS INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL AUDITING STANDARDS INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL MARKETS INTERNATIONAL RESERVES INTERNATIONAL STANDARDS INVESTMENT PORTFOLIOS ISSUANCE LAWS LEGAL FRAMEWORK LEGAL PROTECTION LEGISLATION LEGISLATIVE FRAMEWORK LEVEL OF RISK LIABILITY LIQUID ASSETS LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RATIO LIQUIDITY RISK LOAN MACROECONOMIC POLICIES MACROECONOMIC POLICY MARKET DISCIPLINE MARKET PARTICIPANTS MARKET RISK MARKET RISKS MARKET SHARE MARKET STRUCTURE MERCHANT BANKS MICRO-FINANCE MICROFINANCE MONETARY FUND MONETARY POLICY MORAL HAZARD MORTGAGE MORTGAGE FINANCE NEW ENTRANTS NONPERFORMING LOANS OFFSITE SUPERVISION OIL PRICE OIL PRICES ONSITE EXAMINATION OPERATIONAL INDEPENDENCE OPERATIONAL RISK OUTSTANDING DEBTS OWNERSHIP STRUCTURE OWNERSHIP STRUCTURES PAYMENT SYSTEM PAYMENT SYSTEMS PENSION PENSION FUND PENSION FUNDS PENSIONS PORTFOLIO PRIVATE CREDIT PRIVATE CREDIT BUREAUX PRIVATE PROPERTY PROBLEM BANKS PROFITABILITY PRUDENTIAL REGULATION PRUDENTIAL REQUIREMENTS PUBLIC DEBT RECAPITALIZATION REGULATORY AUTHORITIES REGULATORY AUTHORITY REGULATORY FRAMEWORK RETURNS RISK EXPOSURE RISK MANAGEMENT SYSTEMS RISK PROFILE RISK PROFILES RISK TAKING RISK WEIGHTED ASSETS RISKY ASSET SAFETY NET SECURITIES SETTLEMENT SHAREHOLDER SHAREHOLDERS SMALL BANKS SOLVENCY STOCK EXCHANGE STOCK MARKET SUBORDINATED DEBT SUBSIDIARIES SUBSIDIARY SUPERVISION OF BANKS SUPERVISORY AUTHORITIES SUPERVISORY FRAMEWORK SUPERVISORY POWERS SUPERVISORY REGIMES SYSTEMIC BANKING DISTRESS SYSTEMIC RISK TAX TERRORISM TIER 1 CAPITAL TRANSACTION TRANSFER RISK TRANSPARENCY TREASURY TREASURY OPERATIONS TRUSTEES UNIVERSAL BANKING VARIABLE INTEREST RATES ZERO COUPON ZERO COUPON BONDS
http://documents.worldbank.org/curated/en/2013/05/18170451/nigeria-basel-core-principles-effective-banking-supervision-detailed-assessment-observance http://hdl.handle.net/10986/15968
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World Bank, Washington, DC
Africa | Nigeria
2013-10-01T17:10:09Z | 2013-10-01T17:10:09Z | 2013-05

The assessment of the current state of the implementation of the Basel Core Principles (BCP) for effective banking supervision in Nigeria, against the BCP methodology issued by the Basel Committee on Banking Supervision (BCBS) in October 2006, was completed between August 27 and September 19, 2012, as part of a Financial Sector Assessment Program (FSAP) update, undertaken jointly by the Fund (IMF) and the World Bank, and reflects the regulatory and supervisory framework in place as of the date of the completion of the assessment. An assessment of the effectiveness of banking supervision requires a review of the legal framework, both generally and as specifically related to the financial sector, and a detailed examination of the policies and practices of the institutions responsible for banking supervision. Banking systems differ from one country to another, as do their domestic circumstances. The BCPs are capable of application to a wide range of jurisdictions whose banking sectors will inevitably include a broad spectrum of banks. The co-ordination of the activities of the Nigerian banking sector supervisory authorities is conducted under the aegis of the Central Bank of Nigeria (CBN)/Nigeria Deposit Insurance Corporation (NDIC) executive committee on supervision which should ensure that operations of the two supervisory authorities are coordinated to remove overlaps, avoid gaps and ensure adequate information sharing on issues of supervisory concern. The Financial Services Regulation Coordinating Committee (FSRCC) provides the platform for the co-ordination among and information sharing with regulatory authorities, inter alia with reference to financial sector stability, and supervision of financial conglomerates, financial holding companies and bank holding companies. The Nigerian economy has experienced a number of domestic and external shocks in recent years, which impacted the banking sector. The Nigerian economy emerged from the banking crisis, and has the potential to enjoy an extended period of strong economic growth.

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