THE ASSESSMENT OF BANKING SECTOR PERFORMANCE IN NIGERIA
Wosu, Kingsley Chiwendu and Solomon Olubunmi, PhD
Volume 4 Issue 1
Abstract
Banking sector is pivotal in monetary ecosystem of Nigeria economy. The role to stabilize monetary economics of the nation is hinged on the health and varsity of banking sector. In this study, we set off to do an assessment of banking sector performance in Nigeria using mercantilist perspective. We shall use descriptive analytical technique to screw the performance of banking sector during the era of pre-consolidation and post-consolidation in Nigeria. There were regulations and deregulations policies during pre-consolidation and post-consolidation with the intent of strengthening the sector which conversely will strengthen and stabilize the economy. Moreover, regulatory policies of consolidation yielded positive result to the economy of Nigeria even when banks considered it counter-productive policies. There were improvements in technologies and innovations in banking operation as it is witnessed today in Nigeria. It caved in some ideologies that made banking operation which was encumbered and marred with irregularities and gross customer related welfare services limitations and obvious frustrations of customers to ease and customers centered services throughout the Nigerian nation. It leads to different innovations and consumer friendly technological inputs in the sector. We also find out that consolidation policies made banks to be closer to the people. However, it has also created the consciousness that banking business can be regulated or control by the apex authorities. Keywords: Regulation, Consolidation, Deregulation, Ecosystem, Post-consolidation
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