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Government regulations and the development of banking industry in Nigeria
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This research is on Government regulations and the development of banking industry in Nigeria. The recent development in the Nigerian financial institutions has become subject of concern for accountants and other practitioners as far as performance measurement and predictions for investment decisions are concerned. The paper attempts to investigate government regulations and the development of banking industries in Nigeria especially those that bother on the financial performance of this heart of the economy. A survey research was adopted using a structured questionnaire administered on selected operators in the Nigerian banking sector. Data collected was analyzed through percentage Analysis and hypotheses tested using chi-square statistics at 0.05level of significance. The result showed that Regulatory Authorities have been effective in curtailing distress in the Nigeria banking system, the Regulatory and Supervisory activities of the CBN and the NDIC have boosted depositors’ confidence in the Banking System and that further recapitalization of Nigerian banks would provide a permanent solution to the banking crisis. However, the proposal for the reduction in the number of banks from the present consolidated 24 to only three may need further reappraisal.