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As each sector of the economy strives to better its condition through various research projects, it is past time for the banking sector to join the fray by delving deeply into the impact of banking inspection on implementing banking regulations.

This concept has been brewing for a long time, thanks to my over three years of experience performing internal control and inspection functions in the banking industry.

The study recommends that all banks and financial institutions establish a sound, effective, and efficient inspection division in order to enforce banking regulations.

If this is implemented, it will reduce irregularities and persistent (CBN) penalty frauds, resulting in higher profits, higher shareholder returns, and greater growth and sustainability in the banking sector.


In a more competitive banking market characterised by frequent regulatory changes, high operational costs, dim ening margins on profit from business as a result of sharp practises, and constraints imposed by unstable political and economic climates. It is critical to have people who can spot abnormalities and monitor discrepancies before imposing a cost burden on the bank.

The importance of the preceding emphasis is underscored by the fact that in the banking sector, the most important distinction between one bank and another is the quality of its employees.

The degree of operational efficiency and the effectiveness of the internal control system. The effectiveness and efficiency of the bank’s inspector policy structure and procedure are critical in achieving these overarching goals.

It is widely recognised that effective inspection system services serve as a foundation for ensuring that the bank’s assets are adequately protected in order to support the bank’s aggressive business plans; therefore,

it is critical that banks, as a matter of policy, obtain information about the inspection policy, system, and pattern in the industry in order to ensure the availability of a verifiable and consistent basis when assessing the maxim.


Some banks have been noted to function better than others, and these performing banks are generally those with a strong inspection division. Bank inspection as a banking career has been regarded as the most volatile aspect of responsibilities over the years,

despite certain contradictory views of inspections, staffs who are other times regarded as the bank’s police, as well as those who flock into the abyss of a death and are isolated from the existing bank customers’ international relationships.

On the other hand, the issue of the branch workers being examined. They regard inspection personnel as enemies of progress whose goals are to stifle their career advancement, and they also regard work by magic work and unwritten rules established in enclosed knowledge.

This research is being conducted in order to dispel those anxieties, assumptions, and incorrectly held beliefs, as well as to provide the reality about the subject to other academics, scholar bankers, and banks in general. Despite recent reforms enacted by the previous CBN Governor, Charles Soludo, and the current CBN Governor, Sanusi Lamido Sanusi.


– Determine the importance of nurturing and maintaining a sound inspection system in the banking business.

– To examine whether banks comply with regulatory authority conditions and to ensure that the bank’s component structures are steered on the right path in executing management policies at all levels.

– Identifying areas of bank vulnerability in order to prevent or minimise losses, as well as ensuring effective control mechanisms regarding operational procedures and strict adherence to every transaction in the bank.

– To provide a good solution that would avoid the recurrence of frauds, irregularities, policy violations, and exploitation as a result of internal control vulnerabilities in the various banks’ existing inspection divisions.


1. Why should banks be subjected to sound inspection?

2. Do banks adhere to the regulatory bodies’ requirements?

3. What are the operational weaknesses of banks?

4. How can bank fraud and other irregularities be avoided in the future?


As much as it will be important and necessary to ensure that continuous research is undertaken to provide new and unique concepts of bank inspection that would allow certain banks to gain access to such information in order to achieve a significant leverage over its peers in the industry,

this study is expected to serve as secondary data for future researchers, scholars, students, as well as the management of First Bank of Nigeria Plc (FBN) and other banks in the industry.

Previous research and experience have shown that no bank or financial organisation has maintained a consistent trend in its business plans in the absence of an effective and efficient inspection or internal control system mechanism, highlighting the requirement for a bank or financial institution with a weak.

On March 31, 1894, the head office was located in Liverpool, London, under the cooperative company in Lagos, and was incorporated as a limited liability company in London 31st March 1984 with the name of the bank of British west Africa with a paid up capital of 12,00 pounds sterling, it had absorbed its predecessor,

African banking started business in 1892 and in 1896 a branch in Nigeria was opened in Africa gold coast (Ghana) whole another branch was established in serial In 1900, the second branch in Nigeria established in the old capital, and two years later, its northern regional branch in Kaduna opened. Which is the primary concern in this research project?

With a share capital of 55.6 million naira (including a bonus reserve of (55.8 million naira) in 1995 and N500 million in 1998, the branch has grown dramatically over the years. The bank’s total assets are currently at 60 billion naira. When it first went active in 1894, it had a staff of six (6) people, three (3) Europeans and three (3) Africans.

However, the bank began to take shape in 2006. In its march towards national development, the bank has led to the constant adjustment of its organisational structure and corporate form, which began with West African countries. The bank was incorporated locally in 1969 as Standard Bank of Nigeria Limited (SBN).

This was in response to the company decrees of 1986, and the bank then became a cooperative enterprise. The bank’s name was changed again in 1979 and 1992 to first bank of Nigeria limited and first bank of Nigeria Plc, respectively.

FBN has diversified into a wide range of banking activities and subsidiaries, including merchant and international banking.

Inspection policies, systems, and patterns to establish a dynamic inspection division.


The study looked at the impact of the banking inspection and regulatory body (CBN) on improving the quality and effectiveness of services provided to financial institutions and the nation as a whole.

As a result of some constraining authorities, it calls for rigorous investigation into the inspection division in order to learn more about how it operates.

However, some limiting problems of this research work are considered to be time, lack of access to confidential records, financial uncooperative staffs reluctant to answer queries, and issue, transportation.

As previously stated, time is of major importance in any research effort, however due to the research routine academic programme, little time is allocated to this research work.

The time aspect, as mentioned above, is very important in any research effort, however due to the research’s typical academic programme, little time is allocated to this study work. “Record confidentiality is the order of the day.”

The banking industry. People are frequently frightened of being devoted because they are terrified of being victimised by their boss.

While finance, as the name implies, is a huge hindrance in any human endeavour, particularly when it involves scientific labour.

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