Nigeria’s Banking Sector Reforms: the Journey So Far

Abstract

The current economic crisis appears to vindicate strident calls for financial sector reforms to enthrone sound financial practices and good corporate governance as means to ensuring sustainable economic growth and development. It is thus appropriate in the current adverse global economic circumstances, to determine the direction of the banking sector reforms. This paper discusses the various reasons offered for the banking sector reform in Nigeria, as well as the history and content of banking sector reforms prior to the 2004 banking reforms.