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The Nigerian Banking Sector and Its Development in Recent Times Essay Example

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The Nigerian Banking Sector and Its Development in Recent Times Essay Example
THE NIGERIAN BANKING SECTOR AND ITS DEVELOPMENT IN RECENT TIMES

JOYCE AKPATA

TABLE OF CONTENTS

1. INTRODUCTION
2. CHARCTERISTICS OF THE NIGERIAN BANKING SECTOR
2.1. Size
2.2. Supervision and Regulation
2.3. Corporate Governance
3. RECENT DEVELOPMENTS IN THE NIGERIAN BANKING INDUSTRY
4. GLOBAL INFLUENCES ON THE NIGERIAN BANKING SECTOR
4.1. Global Recession
4.2. ICT and electronic banking
4.3. Globalisation
4.3. The perceived role of IMF/ World Bank
5. THE EFFECT OF THE BANKING SECTOR ON THE NIGERIAN ECONOMY
6. CONCLUSION/RECOMMENDATIONS
BIBLIOGRAPHY

APPENDICES

1. INTRODUCTION
Banks have and will continue to play a key role in the financial systems worldwide. The development of a robust financial system is crucial for economic growth and development. The banking sector is an important and dominant part of the financial system for many countries especially developing countries. Banks have the special nature of being financial intermediaries, channels for monetary policy and also concurrently extend credit and administer payments system. They are key actors in causing and averting financial and economic losses. However, their power to fuel economic growth and development will depend on the strength, reliability and stability of the system. One cannot over-emphasis the need for a workable, sound and reliable banking system and that is why the banking industry is one of the most regulated sectors in any economy.
The aim of this study is to identify key economic characteristics of the Nigerian Banking industry and explore how these characteristics have influenced the growth and development of the industry over the last five years, paying particular attention to the impact of globalisation on the Nigerian banking industry.

2. CHARACTERISICS Banks in Nigeria provide numerous financial intermediation services to customers which can be classified into financial intermediation, financial advisory services transactional services,
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