Banking Sector Reforms and Bank Consolidation in Nigeria
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Date
2007
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Department of Political Science and Public Administration, Babcock University, Ilisan Remo, Ogun State, Nigeria
Abstract
This paper evaluates the challenges and prospect associated with the recent banking sector reforms and consolidation in Nigeria. It is hoped that it would serve as a useful guide to the stake holders and other relevant regulatory agencies charged with the task of achieving credible reforms in the Nigerian banking industry. The issue discussed relates to the structure of the Nigerian banking system, conceptual issues, the rationale and objective; challenges and prospects of banking reforms in Nigeria. This paper concluded that the current reform was a provocative response to the preponderance of weak banks characterized by persistent illiquidity, insolvency, under capitalization, high level of non performing loans and weak corporate governance. Thus the paper suggested that as we continue to struggle with the challenges of the reforms, there is the need for all stakeholders to partner with the Central Bank of Nigeria (CBN) to ensure that the. institutions are safe, stronger and globally competitive to play developmental roles in the economy and reinforce the confidence of all stakeholders in the industry.
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Keywords
Banking, Reform, Nigeria, Objective