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Bullion

Keywords

Financial crisis, Banking sector reforms, Nigeria

Abstract

When the ongoing reforms of banking in Nigeria commenced, there were several arguments against the seeming harshness of the measures. As the revelations increased, the argument became the manner the revelations were made. All these pointed to the capacity of humans to resist change. lt was generally accepted that things went terribly wrong and some drastic steps needed to be taken. This paper examines existing and emerging financial reforms in the Nigeria banking sector. The outcome of the greed-induced crisis was not peculiar to Nigeria, as banks failed all around the world as their capital was eroded. There are obvious /lessons to be learned from these developments, perhaps most important of all is that framework and institutional capacity for handling financial crisis needed to be developed and systematically strengthened.

Author Bio

Dr. Biodun Adedipe is a chief consultant at B. Adedipe Associates Limited.

Publication Title

CBN Bullion

Issue

3

Volume

34

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