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IMPACT OF BANKING REFORMS ON BANK PERFORMANCE IN NIGERIA

CHAPTER ONE 

 INTRODUCION 
BACKGROUND TO THE STUD
 Reforms are predicated upon the need for reorientation and repositioning of an existing status quo in order to attain an effective and efficient state. There could be fundamental bottle-neck that may inhibit the functioning of the institutions for growth and the achievement of core objectives in the drive towards enhancing and sustaining the economic and social imperatives of human endeavor. Carried out through either government institutions or private enterprises, reform becomes inevitable in the light of the global dynamic exigencies and emerging landscape (Somoye, 2006). In terms of policy thrust therefore the banking sector reforms are expected to build and foster a competitive and healthy financial system to support development and avoid systemic distress (Soludo, 2007). Thus Balogun (2007) averred that banking sector reforms is interpreted to mean embarking on comprehensive process aimed at Substantially improving the financial infrastructure, strengthening the regulatory and supervisory framework to address the issue of low capitalization and a structured financing for cheap credit to the real sector and financial accommodation for small and rural credit schemes. In most cases, bank reforms are embarked upon to forestall banking crises or cushion the effects of a recent crisis. Banking sector reforms have come into play due to banks inability to meet up to required obligations or satisfy their stakeholders which overtime have led to subsequent failures and crises. A banking crisis can be triggered by weakness in banking system characterized by persistent illiquidity, insolvency, undercapitalization, high level of non-performing loans and weak corporate governance, among others. (Adegbaju and Olokoyo, 2008). The reforms carried out in Nigerian banking industry which started from July 6 2004 was done primarily to meet the developmental challenges of the 21st century. In his words, Professor Charles Soludo, the governor of Central Bank of Nigeria from June 2004 to June 2009 said that the reforms were to engender exchange rate and price stability, managing interest rate for stability and development of macroeconomic coordination, vigorous pursuit of the developmental roles of the CBN, improvement of the payment system, financial sector diversification and regulatory reforms and strategies for integrating the Nigeria’s financial system into the African regional and global financial system. He further emphasized his desire to concentrate on the theme of banking sector consolidation. Strengthening and consolidating the banking system was to constitute the first phase of the reforms designed to ensure a diversified, strong and reliable banking sector which will ensure the safety of the depositor’s money, play active developmental roles in the Nigerian economy and be competent and competitive players in the African regional and global financial system. The reform was to support the banks to become strong players for good health, long live and positive contributors to the economy. Depositors were expected to have sweet dreams in aftermath of this reform. With the universal Banking system which was introduced in 2000, banks became one stop shops offering a range of financial services, insurance, mortgage, stock broking, investment, banking etc. Unfortunately after the observation that the banks were putting shareholders’ funds at risk and not concentrating on their areas of core competence, the central Bank of Nigeria on 15 March 2010 announced the phasing out of universal banking within the 18 months. All these reforms had taken place but the benefits especially as it relates to bank performance is still a doubt to many people.

Project detailsContents
 
Number of Pages91 pages
Chapter one Introduction
Chapter two Literature review
Chapter three  methodology
Chapter  four  Data analysis
Chapter  five Summary,discussion & recommendations
ReferenceReference
QuestionnaireQuestionnaire
AppendixAppendix
Chapter summary1 to 5 chapters
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