The Central Bank of Nigeria was established by the CBN Act of 1958 and commenced operations on July 1, 1958.
The major regulatory objectives of the bank as stated in the CBN act of 1958 is to: maintain the external reserves of the country, promote monetary stability and a sound financial environment, and to act as a banker of last resort and financial adviser to the federal government. The central bank's role as lender of last resort and adviser to the federal government has sometimes pushed it into murky regulatory waters.
At Parallex Bank, we believe banking is all about creating satisfaction for the stakeholders, contributing to the growth of the national economy and impacting on the larger society by being a partner in the development process. We have crafted our Brand Driver bearing these in mind which is- … “supporting your aspirations”. Whatever those aspirations are and so long they are legal and would bring about advancement to humanity, we shall be there to support you.
Calabar Microfinance Bank is an integrated financial service institution with a hard earned reputation for excellent financial business practices and a goal of fostering wealth creation by supporting and promoting business and entrepreneurial development among the economically/entrepreneurially “Active poor” and under-banked population. With its Corporate Headquarters at No. 72 Egerton Street, Calabar. CMF Bank started as a Community Bank in Cross River State fully licensed by Central Bank of Nigeria.