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Bullion

Keywords

CBN, Banking reforms, Bank consolidation.

Abstract

This paper intended to look at the number of reforms that have since been created, several of them was intended to enhance the risk management capability of both the regulated institutions and the regulators. the current reforms are part of the broader and on-going national economic reforms. This paper x-rays the challenges envisaged in their implementation. Following the introduction, section 2 examines the role of the banking system in the economy, while section 3 provides the rationale for the reforms in Nigeria. Section 4, the reform agenda is discussed with a brief on the journey so far. Section 5 identifies challenges, while section 6 concludes the paper. The paper reveals that the experience from the developed economies has shown that the development of a sound financial system requires the collaborative efforts of the government, the monetary authorities, the operators in the industry and the general public. Macroeconomic stability is required for the financial system to evolve and play its expected roles.

Author Bio

The author is a staff of the Central Bank of Nigeria.

Publication Title

CBN Bullion

Issue

2

Volume

29

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