The impacts of the global financial crisis on the Nigerian banking industry
This research paper examines the impacts of the global financial crisis on the Nigerian banking industry. The Central Bank of Nigeria (CBN) initiated the first phase of the bank consolidation in 2005, to provide a strong and reliable banking sector that would guarantee the safety of depositor’s mone...
| Autor principal: | |
|---|---|
| Formato: | H1 |
| Lenguaje: | Inglés |
| Publicado: |
SLU/Dept. of Economics
2009
|
| Materias: |
| _version_ | 1855570227644858368 |
|---|---|
| author | Ojeaga, Peter Jemide |
| author_browse | Ojeaga, Peter Jemide |
| author_facet | Ojeaga, Peter Jemide |
| author_sort | Ojeaga, Peter Jemide |
| collection | Epsilon Archive for Student Projects |
| description | This research paper examines the impacts of the global financial crisis on the Nigerian banking industry. The Central Bank of Nigeria (CBN) initiated the first phase of the bank consolidation in 2005, to provide a strong and reliable banking sector that would guarantee the safety of depositor’s money. The consolidated banks were expected to play a very active role in the economic growth and development of Nigeria. The consolidation exercise was remarkable as some of the Banks merged while other went for outright takeover of the assets and liabilities of the weak banks. Within the short period of consolidation there were positive changes in the entire system, as interest and lending rates became stabilized. And some of the consolidated banks became partners and correspondent banks to foreign counterparts. Unfortunately, the current global financial crisis, which has it roots in the United State of America and Europe, has spread to other part of the world. The crisis has eroded the confidence of the general public in the Nigerian banking industry, despite their consolidation. Even the Nigerian Stock Market (NSM) which is expected to act as buffer of fund, is not left out of the financial crisis. This research paper will therefore attempt to examine the impact of the global financial crisis on the Nigerian banking industry |
| format | H1 |
| id | RepoSLU802 |
| institution | Swedish University of Agricultural Sciences |
| language | Inglés |
| publishDate | 2009 |
| publishDateSort | 2009 |
| publisher | SLU/Dept. of Economics |
| publisherStr | SLU/Dept. of Economics |
| record_format | eprints |
| spelling | RepoSLU8022012-04-20T14:10:59Z The impacts of the global financial crisis on the Nigerian banking industry Den globala finanskrisens inverkan på banksektorn i Nigeria Ojeaga, Peter Jemide Banks Consolidation Finance Global System This research paper examines the impacts of the global financial crisis on the Nigerian banking industry. The Central Bank of Nigeria (CBN) initiated the first phase of the bank consolidation in 2005, to provide a strong and reliable banking sector that would guarantee the safety of depositor’s money. The consolidated banks were expected to play a very active role in the economic growth and development of Nigeria. The consolidation exercise was remarkable as some of the Banks merged while other went for outright takeover of the assets and liabilities of the weak banks. Within the short period of consolidation there were positive changes in the entire system, as interest and lending rates became stabilized. And some of the consolidated banks became partners and correspondent banks to foreign counterparts. Unfortunately, the current global financial crisis, which has it roots in the United State of America and Europe, has spread to other part of the world. The crisis has eroded the confidence of the general public in the Nigerian banking industry, despite their consolidation. Even the Nigerian Stock Market (NSM) which is expected to act as buffer of fund, is not left out of the financial crisis. This research paper will therefore attempt to examine the impact of the global financial crisis on the Nigerian banking industry SLU/Dept. of Economics 2009 H1 eng https://stud.epsilon.slu.se/802/ |
| spellingShingle | Banks Consolidation Finance Global System Ojeaga, Peter Jemide The impacts of the global financial crisis on the Nigerian banking industry |
| title | The impacts of the global financial crisis on the Nigerian
banking industry |
| title_full | The impacts of the global financial crisis on the Nigerian
banking industry |
| title_fullStr | The impacts of the global financial crisis on the Nigerian
banking industry |
| title_full_unstemmed | The impacts of the global financial crisis on the Nigerian
banking industry |
| title_short | The impacts of the global financial crisis on the Nigerian
banking industry |
| title_sort | the impacts of the global financial crisis on the nigerian
banking industry |
| topic | Banks Consolidation Finance Global System |