Bank Failure – Causes and Consequences (The Nigerian Experience)
Bank Failure – If there is anything that all well-meaning stakeholders in the Nigeria banking industry look forward to, it is a banking sector that is healthy and stable. A banking sector where investors, depositors, operators, regulators, etc can after a hard day’s work, go to steep with all eyes closed and without the anxiety that before dawn something amiss will happens.
To a large extent that was the nature of Nigeria’s banking industry from independence in 1960 to the deregulation and liberalization of the industry, which started in the mid 1980s. Situations have drastically changed since the manifestation of rounds of bank failures that subsequently claimed the life of 37 banks from 1994 to 2003. [Read more…]