.| FINANCE HOUSES ASSOCIATION OF NIGERIA |.

INTERNATIONAL WORKSHOP ON THE OPERATIONS OF FINANCE COMPANIES IN NIGERIA International Workshop in collarboration with the Central Bank of Nigeria, coming up on the 25th of November, 2011
Read more here

These Revised Guidelines are issued by the Central Bank of Nigeria [CBN] in exercise of the of the powers conferred on it by the provisions of Section 28 of the CBN Act 24 of 1991 [as amended] and in pursuance of the provisions of Sections 56-61 of the Banks and Other Financial Institutions Act [BOFIA] 25, of 1991 [as amended].
DOWNLOAD HERE

OUR HISTORY

We are Finance Houses Association of Nigeria, the umbrella, self-regulatory body of all CBN-licensed finance companies operating in Nigeria.

The association, with membership strength of fifty eight (58) was formed about twenty years ago as a professional trade group to advance the business interests of its members, institute sound and ethical corporate governance practices, maintain a standard code of conduct for operators, and ensure members’ compliance with statutory regulatory requirements.

We maintain a very active and collaborative relationship with the Central Bank of Nigeria through its Other Financial Institutions Department (OFID) whose mandate include the supervision and regulation of finance companies.

Finance companies, as major players in the Nigerian financial system, are designed to provide critical financing facilities for small and medium scale enterprises in the real sector of the economy.

They are particularly licenced to provide amongst others the following services; equipment leasing and hire purchase: project finance and management: debt factoring; securitization and administration; export financing; LPO financing; and funds management. . Read More Here

PRINCIPAL OBJECTIVES OF THE ASSOCIATION

1. The maintenance of the highest standards of professional conduct, etiquette and discipline.

2. Fostering social, economic and business interaction, cooperation and understanding, amongst members.
In particular to encourage and stimulate the pulling of resources for business transactions amongst members

3. The facilitation of free exchange of ideas, technical knowledge, development and practice between the association and similar associations locally and abroad and to affiliate or cooporate with such organizations

4. Act as an advocacy organ for driving requisite legislation for advancing the interest of the sub sector

5. To act as a vehicle for fostering cordial liaison with all relevant regulatory agencies.