Soludo consolidating nigerian banking
This above position shows a restored confidence in the banking industry that was lost in the days of uncertainty and liquidation fever.
While prior studies focused on the financial performance of banks (with emphasis on profitability), the main thrust of this study was on how the consolidation exercise had affected different areas of commercial banks in Nigeria other than profitability.July, 2004, the Central Bank Governor said the Nigerian banking system today is fragile and marginal.Our vision is a banking system that is part of the global change, and which is strong, competitive and reliable.The results of this as will be seen in the table below show appreciable level of consciousness and social re-engineering of the psych of the citizenry towards investment in the banking sector.The corresponding table below shows the growing number and percentage variation of investments in the industry before the consolidation policy in 2004 and after The increased number of shareholders in the industry has two dimensional advantage; one, it speaks a growing investment culture and considerable growth and strength for the sector, and enhanced financial strength for the banks to enlarge their investment tentacles beyond their traditional financial industry to other sectors of the economy.
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The 2004 banks restructuring and consolidation exercises were predicated on convincing evidences that suggested that the Nigerian financial sector actually saw a financial dis-intermediation.