By facilitating the flow of capital to a variety of investment opportunities, it may also encourage increased levels of direct foreign investment into the host nation.
It was stated that “in view of these, the Central Bank of Nigeria issues this guideline,” with the purpose of “specifying the requirements for the licensing and operations of approved representative offices of foreign banks in Nigeria.” “In view of these,” the guideline stated. “This is in view of these.”
The Central Bank of Nigeria (CBN) stated that the guidelines applied to banks licensed under any foreign law, whose registered head office is located outside of Nigeria; any financial institution licensed under foreign law, whose primary business includes the receipt of deposits, granting of loans, and/or provision of current and savings accounts; any foreign-owned operating bank or financial holding company that is based outside of Nigeria and owns a controlling interest in one or more banks or institutions whose primary business includes the receipt of deposits; and any foreign-owned operating
