This report is a comprehensive review ofthe Nigerian financial system, covering the following areas:i) macro-financial environment; ii) safety and soundness ofthe banking system; iii) banking supervision; iv)development finance institutions; v) community banks andcommercial banks' rural operations; vi) insurance andpensions; vii) housing finance; viii) money and capitalmarkets; and ix) term finance and leasing. The report is inthree volumes: Volume 1 (Overview and Macro-financialEnvironment) covers the Executive Summary, Overview of theFinancial System and Macro-Financial Issues. Volume 2(Banking Institutions) contains chapters on: i) The BankingSystem; ii) Assessment of Banking Supervision; iii)Development Finance Institutions; and iv) Community Banksand Commercial banks' rural operations. Volume 3(Non-Bank Financial Institutions and Markets) includes: i)Insurance and Pensions; ii) Housing Finance; iii) Money andCapital Markets; and iv) Term Finance and Leasing. TheStatistical Annex contains relevant data for all the chapters.