Abstract/Summary

This article examines the paradoxes, pitfalls, and prospects of creating a specialist tribunal to resolve banking law matters in Nigeria. Given the special temperament of banks and the complex issues arising from banking law disputes, it is argued that the creation of this tribunal would be instrumental in the development of banking regulation and address the conundrum of cases containing similar facts, leading to different judicial pronouncements. This itself, it is contended, calls into question the understanding of Nigerian courts on banking law issues. Particularly, this article focuses on the challenges faced by both banks and the Central Bank of Nigeria (CBN) vis-à-vis the revocation of banking licenses, and the position of the CBN in its quasi-judicial position. The article advocates for the introduction of this type of tribunal and argues that it is necessary in order to contribute positively to the progression of banking regulation in Nigeria.