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Chronology of banking reforms in Nigeria: A survey of past and present theoretical and empirical literature

Ahmad Bello Dogarawa (Department of Accounting, Ahmadu Bello University, Zaria, Nigeria)

Journal of Financial Regulation and Compliance

ISSN: 1358-1988

Article publication date: 15 November 2011



Governments of many developed and developing countries have designed and implemented various financial reforms to enable the sector to play the role of efficient financial intermediation, thereby helping to bolster economic growth and development. The purpose of this paper is to survey past and present literature on the chronology of banking reforms in Nigeria and the implications of the last reform on the Nigerian economy.


The paper is analytical with mode of presentation based on content analysis.


The paper posits that the banking system in Nigeria has come a long way in term of regulations and reforms, number of institutions, structure of ownership, and depth and breadth of operations. However, the various reforms have not yet achieved the desired objectives, either due to poor implementation or improper institutional arrangement or sometimes due to abrupt termination of the reforms.


The paper suggests that henceforth, reforms should be designed according to the peculiarities of the Nigerian economy and institutional behaviour, and should be backed by adequate legislation.



Bello Dogarawa, A. (2011), "Chronology of banking reforms in Nigeria: A survey of past and present theoretical and empirical literature", Journal of Financial Regulation and Compliance, Vol. 19 No. 4, pp. 370-382.



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