Making Finance Work for Nigeria

This study begins by considering the banking sector and then moves on to issues relating to improving access to finance to support Nigeria's economic growth vision. The second part of the study refers to issues relating to longer-term finance: both the sources of financing, such as pensions and insurance, and their uses in providing financing for resolving Nigeria's crucial infrastructure shortfalls in infrastructure and housing. The final part of the study returns to the fundamental 'plumbing' of the financial system focusing on the legal and regulatory foundation for creditor rights and corporate insolvency, instituting sound corporate governance standards for corporations and banks, and providing secure and low cost transmittal of payments and remittances. While it is difficult to identify a common theme running through this volume without compromising the diversity and nuance of the recommendations, the overarching theme supported by this volume is the importance of exchange of reliable information as the basis for financial transactions between unconnected third parties. Implementation of systems designed to strengthen accounting and reporting standards for banks and corporations, the registration of movable and immovable property, property liens and credit histories as well as exchange of information about prices, interest rates, fees and charges for financials services will considerably enhance the functionality of financial systems and prove crucial in establishing a trusted and robust market-based financial system in support of stable economic growth and development in Nigeria.

Bibliographic Details

Main Author:	World Bank
Format:	Report biblioteca
Language:	English en_US
Published:	Washington, DC 2009-11
Subjects:	ACCEPTABLE COLLATERAL, ACCOUNTING, ACCOUNTING STANDARD, AGRICULTURAL COOPERATIVE, ASSET CLASS, AVAILABILITY OF CREDIT, BACKED SECURITIES, BALANCE SHEET, BALANCE SHEETS, BANK BORROWERS, BANK CREDIT, BANK LENDING, BANK REGULATION, BANKING CRISIS, BANKING REGULATIONS, BANKING SECTOR, BANKING SECTOR DEVELOPMENT, BANKING SYSTEM, BORROWER, BRANCH NETWORK, BROKER, BUY-BACKS, CAPACITY BUILDING, CAPITAL MARKET, CAPITAL MARKETS, CAPITAL REQUIREMENT, CAPITAL REQUIREMENTS, CENTRAL BANK, CENTRAL BANKS, CENTRAL SECURITIES DEPOSITORY, CHECKS, COLLATERAL, COLLATERAL REGISTRIES, COMMERCIAL BANKING, CONFLICT OF INTEREST, CONSUMER PROTECTION, CORPORATE DEBT, CORPORATE GOVERNANCE, CORPORATE INSOLVENCY, CREDIT CULTURE, CREDIT HISTORIES, CREDIT INFORMATION, CREDIT LINES, CREDIT RISK, CREDITOR, CREDITOR RIGHTS, CREDITORS, CURRENCY, CURRENCY DEPRECIATION, DEBT, DEBT MANAGEMENT, DEBT RELIEF, DEBT SERVICE, DEBTORS, DEPOSIT, DEPOSIT INSURANCE, DEVELOPMENT BANK, DEVELOPMENT FINANCE, DOMESTIC CAPITAL, DOMESTIC CAPITAL MARKETS, ECONOMIC DEVELOPMENT, EMERGING MARKET, ENFORCEMENT PROCEDURES, EQUITY MARKET, EUROBOND, EXCHANGE COMMISSION, EXCHANGE RATE, EXPENDITURE, EXTERNAL DEBT, FINANCIAL CRISIS, FINANCIAL INFRASTRUCTURE, FINANCIAL INSTITUTIONS, FINANCIAL MANAGEMENT, FINANCIAL PERFORMANCE, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL SERVICE PROVIDERS, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FOREIGN EXCHANGE, FOREIGN INVESTORS, FRAUD, GOVERNANCE ISSUES, GOVERNANCE STANDARDS, GOVERNMENT ACCOUNTING STANDARDS, GOVERNMENT DEBT, GOVERNMENT DEBT MARKET, GOVERNMENT FINANCES, GROSS DOMESTIC PRODUCT, HOLDING, HOUSING FINANCE, HUMAN CAPITAL, IMMOVABLE PROPERTY, INFLATION, INFLATION RATE, INFLATION RATES, INFORMATION DISCLOSURE, INFORMATION SYSTEM, INFORMATION TECHNOLOGY, INFRASTRUCTURE INVESTMENT, INITIAL PUBLIC OFFERING, INSTRUMENT, INSURANCE, INSURANCE COMPANIES, INSURANCE CORPORATION, INSURANCE INDUSTRY, INSURANCE MARKET, INSURANCE PREMIUMS, INSURANCE PRODUCTS, INTEREST RATES, INTERNATIONAL CAPITAL, INTERNATIONAL CAPITAL MARKETS, INTERNATIONAL FINANCIAL CRISIS, INTERNATIONAL INVESTORS, INTERNATIONAL STANDARDS, INVESTMENT CHOICE, INVESTMENT HORIZON, INVESTMENT INSTRUMENTS, INVESTMENT RISKS, INVESTMENT STRATEGIES, IPO, ISSUANCE, ISSUANCES, LEGAL FRAMEWORK, LEGAL SYSTEM, LENDING PORTFOLIOS, LEVEL PLAYING FIELD, LIABILITY, LIENS, LIFE INSURANCE, LIFE INSURANCE PRODUCTS, LIQUIDITY, LIVING STANDARDS, LOCAL GOVERNMENT, LONG TERM SAVINGS, MACROECONOMIC STABILITY, MARKET CAPITALIZATION, MARKET DEVELOPMENT, MARKET DEVELOPMENTS, MARKET ECONOMY, MARKET INFRASTRUCTURE, MARKET LIQUIDITY, MARKET PARTICIPANTS, MARKET RISK, MARKET SHARE, MARKET STRUCTURE, MICRO-FINANCE, MICROFINANCE, MOBILE PHONE, MORAL HAZARD, MORTGAGE, MORTGAGE MARKET, MORTGAGES, MOVABLE PROPERTY AS COLLATERAL, NON-PERFORMING LOANS, OIL PRICE, OIL PRICES, OPERATIONAL INDEPENDENCE, PAYMENT SERVICES, PAYMENT SYSTEM, PAYMENT SYSTEMS, PENSION, PENSION ASSETS, PENSION FUND, PENSION FUNDS, PENSION REFORMS, PENSION SYSTEM, PENSIONS, POOR REPUTATION, PORTFOLIO, PORTFOLIO INVESTMENT, PORTFOLIO MANAGEMENT, PRIMARY DEALERS, PRIVATE CAPITAL, PRIVATE CREDIT, PRIVATE CREDIT BUREAUS, PRUDENTIAL STANDARDS, REAL PROPERTY, REGULATORY FRAMEWORK, REGULATORY GOVERNANCE, REMITTANCE, REMITTANCE SERVICE, REMITTANCES, REPAYMENT, REPAYMENT RECORD, REPAYMENTS, RESERVES, RETURN, RETURNS, RISK DIVERSIFICATION, RISK MANAGEMENT, RISK MANAGEMENT SYSTEM, RURAL FINANCING, SAVINGS INSTRUMENTS, SECONDARY MARKET, SECONDARY TRADING, SECURITIES, SECURITIES REGISTRATION, SETTLEMENT, SETTLEMENT SYSTEM, SETTLEMENT SYSTEMS, SOVEREIGN BONDS, SOVEREIGN DEBT, SOVEREIGN DEBT MARKET, STOCK EXCHANGE, STOCK MARKET, TRANSACTION, TRANSACTION COSTS, TRANSPARENCY, TREASURY, TRUST FUND, UNSECURED CREDITORS, VALUE OF ASSETS, VALUE PAYMENT SYSTEMS, WORKING CAPITAL,
Online Access:	http://documents.worldbank.org/curated/en/782651468120859201/Making-finance-work-for-Nigeria https://hdl.handle.net/10986/28122
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