News Highlights:
- Dr. Sam Chukwuka Onyeka launches book on Contemporary Banking Law and Practice
- Senator Anyim Pius Anyim praises Onyeka’s new book as a vital and timely resource
Dr. Sam Chukwuka Onyeka, a banking law expert and Chairman of Compliance Publications Limited, publishers of Compliance Resources in Nigeria, has unveiled a landmark book titled ‘Contemporary Banking Law and Practice,’ offering what experts have hailed as one of the most comprehensive and forward-looking texts on the subject in recent Nigerian scholarship.
Digital TimesNG reports that the book, which carries a distinguished foreword by Senator Anyim Pius Anyim, former Senate President and Secretary to the Government of the Federation (SGF), is already being praised as a monumental contribution to the understanding of modern banking law and its evolving dynamics.
In his foreword to the book, Senator Anyim who commended the new book as a vital and timely resource for Nigeria’s financial and legal sectors, described the publication as “comprehensive and forward-looking,” noting that it arrives amid critical reforms in banking regulation, spurred by digital transformation and global financial challenges.
“The banking sector is fundamentally dynamic and responsive to global trends; hence, the legal and regulatory frameworks must be recurrently adjusted,” he stated. Highlighting developments such as fintech, blockchain, cybercrime legislation, and ESG integration, Senator Anyim emphasized the need for updated legal resources to guide banks, regulators, and consumers.
He praised Onyeka’s accessible writing style, careful organization into twenty-six detailed chapters, and robust referencing to Nigerian and international case law. “Dr. Onyeka’s book fills a significant gap by addressing both foundational principles and emerging issues in banking law,” Senator Anyim added.
Recommending the book to legal practitioners, bankers, academics, judges, and students, Senator Anyim concluded that Contemporary Banking Law and Practice would be “a welcome addition to the growing library of resources in this dynamic field.”
Spanning twenty-six meticulously organized chapters, Contemporary Banking Law and Practice traces the evolution of banking from medieval Asia and Europe to today’s digitally transformed financial world, with Onyeka providing deep insights into the historical roots of banking in Nigeria, linking indigenous financial practices, colonial legacies, and current regulatory frameworks with remarkable clarity.
“This book is not just about laws and statutes; it’s about understanding how our financial system has grown and where it is heading,” said Onyeka about the book which among many highlights, addresses vital topics often overlooked in existing literature.
Readers are treated to in-depth analysis of fintech innovations, blockchain applications, artificial intelligence in banking, cybersecurity threats, ESG (Environmental, Social, and Governance) compliance, and the regulatory framework governing open banking.
Dr. Onyeka’s forward-looking approach ensures that readers are not only grounded in traditional legal principles but are also equipped to navigate the future of financial services. The text does not shy away from traditional banking law foundations either, offering a detailed examination of the banker-customer relationship, banking liabilities in the electronic age, privacy, data protection challenges, negotiable instruments, non-interest banking, and banking malpractices.
A standout feature is the book’s accessible yet authoritative writing style, complemented by rigorous referencing in accordance with both the Oxford Standard Citation of Legal Authorities (OSCOLA) and the Law Teachers Association of Nigeria (LTAN) guidelines. To enhance its utility, the book also includes an appendix featuring the Banks and Other Financial Institutions Act, 2020.
“The legal landscape is changing fast, and Dr. Onyeka’s work is a timely guide for practitioners, academics, and students who must keep pace with these developments,” noted Senator Anyim Pius Anyim in his foreword.
Published with the legal positions updated as of December 31, 2024, Contemporary Banking Law and Practice is being widely recognized as an indispensable resource for legal practitioners, financial sector professionals, scholars, and anyone keen to understand the intricate relationship between law, finance, and technology in the modern era.
Critics have already given the work a full five-star rating, describing it as “a masterful and timely text that sets a new standard for banking law scholarship in Nigeria.” The book is positioned to become an indispensable guide for navigating the evolving legal and regulatory landscape of banking in Nigeria and beyond.
The book author, Sam Chukwuka Onyeka holds a PhD in Law (with Banking & Insurance Law as forte) from the Imo State University Owerri, and MBA (Insurance & Risk Management) from Enugu State University of Science and Technology.
He also holds Fellowships of the Institute of Management Consultants, the Chartered Insurance Institute of Nigeria, the Compliance Institute, Nigeria, the Risk Managers Association of Nigeria, and the National Association of Insurance Commissioners, USA.
Onyeka has researched and taught Banking & Insurance Law at the Faculty of Law, Imo State University Owerri. Also, he has been a Visiting Lecturer at the Faculty of Law, University of Abuja, and at the Compliance Institute, Nigeria.
Sam Chukwuka Onyeka who has published over a dozen books in the related fields, including the AML/CFT Compendium, is currently the Lead at ISG Consulting Limited, an insurance and risk management consulting firm in Abuja, Nigeria.