CHAPTER ONE
1.0 INTRODUCTION
The Nigerian banking sector witnessed dramatic growth post-consolidation. However, neither the industry nor the regulators were sufficiently prepared to sustain and monitors the sector’s explosive growth prevailing sentiment and economic orthodoxy all encouraged this rapid growth, creating a blind spot to the risk building up in the system.
Prior to the crisis, the sentiment in the industry was that the banking sector was sound and growth should be encouraged. The IMF endorsed the strength of the banking system to support this growth. However, this sentiment proved misplaced. I believe 8 main interdependent factors led to the creation of an extremely fragile financial system that was tipped into crisis by the global financial crisis and recession.
These 8 factors were:
1. Macro-economic instability caused by large and sudden capital inflows.
2. Major failures incorporate government at banks
3. Lack of investor and consumer sophistication
4. Inadequate disclosure and transparency about financial position of banks.
5. Critical gaps in regulatory framework and regulations.
6. Uneven supervision and enforcement
7. Unstructured governance and management processes at the CBN/weakness within the CBN.
8. Weaknesses in the business environment. Each of these factors is serious on its own right. Acted together they brought the entire Nigerian financial system to the brink of collapse.
| Project details | Contents |
|---|---|
| Number of Pages | 63 pages |
| Chapter one | Introduction |
| Chapter two | Literature review |
| Chapter three | methodology |
| Chapter four | Data analysis |
| Chapter five | Summary,discussion & recommendations |
| Reference | Reference |
| Questionnaire | Questionnaire |
| Appendix | Appendix |
| Chapter summary | 1 to 5 chapters |
| Available document | PDF and MS-word format |
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