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Chronology of banking reforms in Nigeria: A survey of past and present theoretical and empirical literature

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  • Ahmad Bello Dogarawa
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    Abstract

    Purpose – Governments of many developed and developing countries have designed and implemented various financial reforms to enable the sector to play the role of efficient financial intermediation, thereby helping to bolster economic growth and development. The purpose of this paper is to survey past and present literature on the chronology of banking reforms in Nigeria and the implications of the last reform on the Nigerian economy. Design/methodology/approach – The paper is analytical with mode of presentation based on content analysis. Findings – The paper posits that the banking system in Nigeria has come a long way in term of regulations and reforms, number of institutions, structure of ownership, and depth and breadth of operations. However, the various reforms have not yet achieved the desired objectives, either due to poor implementation or improper institutional arrangement or sometimes due to abrupt termination of the reforms. Originality/value – The paper suggests that henceforth, reforms should be designed according to the peculiarities of the Nigerian economy and institutional behaviour, and should be backed by adequate legislation.

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    Bibliographic Info

    Article provided by Emerald Group Publishing in its journal Journal of Financial Regulation and Compliance.

    Volume (Year): 19 (2011)
    Issue (Month): 4 (November)
    Pages: 370-382

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    Handle: RePEc:eme:jfrcpp:v:19:y:2011:i:4:p:370-382

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    Related research

    Keywords: Acquisitions and mergers; Bank consolidation; Bank recapitalisation; Banks; Government policy; Nigeria;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Charles M. Kahn & George G. Pennacchi & Ben J. Sopranzetti, 2000. "Bank consolidation and consumer loan interest rates," Proceedings 690, Federal Reserve Bank of Chicago.
    2. Linda Goldberg, 2004. "Financial-sector foreign direct investment and host countries: new and old lessons," Staff Reports 183, Federal Reserve Bank of New York.
    3. Emilia Bonaccorsi Di Patti & Giorgio Gobbi, 2007. "Winners or Losers? The Effects of Banking Consolidation on Corporate Borrowers," Journal of Finance, American Finance Association, vol. 62(2), pages 669-695, 04.
    4. Hughes, Joseph P. & Lang, William W. & Mester, Loretta J. & Moon, Choon-Geol, 1999. "The dollars and sense of bank consolidation," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 291-324, February.
    5. Berger, Allen N, 1995. "The Relationship between Capital and Earnings in Banking," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(2), pages 432-56, May.
    6. Balogun, Emmanuel Dele, 2007. "A review of Soludo's perspective of banking sector reforms in Nigeria," MPRA Paper 3803, University Library of Munich, Germany.
    7. Berger, Allen N, et al, 2004. "Bank Concentration and Competition: An Evolution in the Making," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 36(3), pages 433-51, June.
    8. Altunbas, Yener & Marqués-Ibáñez, David, 2004. "Mergers and acquisitions and bank performance in Europe: the role of strategic similarities," Working Paper Series 0398, European Central Bank.
    9. International Monetary Fund, 2004. "Bank Consolidation and Performance," IMF Working Papers 04/149, International Monetary Fund.
    10. Beck, Thorsten & Cull, Robert & Jerome, Afeikhena, 2005. "Bank privatization and performance - emprical evidence from Nigeria," Policy Research Working Paper Series 3511, The World Bank.
    11. Joe Peek & Eric S. Rosengren, 1995. "Small business credit availability: how important is size of lender?," Working Papers 95-5, Federal Reserve Bank of Boston.
    12. Allen N. Berger & Asli Demirgüç-Kunt & Ross Levine & Joseph G. Haubrich, 2004. "Introduction: Bank concentration and competition: an evolution in the making," Proceedings, Federal Reserve Bank of Cleveland, pages 433-451.
    13. Iretioluwa O. Oyefuga & Willie O. Siyanbola & Oladele O. Afolabi & Abolaji D. Dada & Abiodun A. Egbetokun, 2008. "SMEs funding: an assessment of an intervention scheme in Nigeria," World Review of Entrepreneurship, Management and Sustainable Development, Inderscience Enterprises Ltd, vol. 4(2/3), pages 233-245.
    14. Ricardo Correa, 2008. "Cross-border bank acquisitions: Is there a performance effect?," International Finance Discussion Papers 922, Board of Governors of the Federal Reserve System (U.S.).
    15. Elizabeth Laderman, 1995. "The rhyme and reason of bank mergers," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue nov17.
    16. Liz Laderman, 2003. "Good news on Twelfth District banking market concentration," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue oct24.
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