President Muhammadu Buhari has assented to the Banks and Other Financial Institutions, BOFI Act 2020.
Buhari stated that the act repeals the extant Banks and Other Financial Institutions Act 1991 as-amended.
He described the BOFI Act 2020 as a historic and significant achievement that will enhance the soundness and resilience of Nigeria’s financial system.
The President added that the Act is another indication of effective and productive collaboration between the Executive and Legislative arms of Government.
