Nigerian banking system

The Nigerian banking system consists of banks that accept deposits, offer loans, and provide financial services to individuals and businesses. It is regulated by the Central Bank of Nigeria (CBN), which ensures stability, controls inflation, and promotes a safe financial environment. Banks in Nigeria include commercial banks, microfinance banks, and development banks, each serving different needs. The system also features electronic banking, mobile money, and online services to enhance financial inclusion. Overall, it supports economic growth by facilitating transactions, investment, and savings for Nigerians.