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A Synthesis of Banks

In: Business and Management

Submitted By mayor125
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European Journal of Economics, Finance and Administrative Sciences ISSN 1450-2887 Issue 17 (2009) © EuroJournals, Inc. 2009 http://www.eurojournals.com

A Synthesis of the Critical Factors Affecting Performance of the Nigerian Banking System
Godwin Chigozie Okpara Department of Banking and Finance, Abia State University, Uturu E-mail godgozie@yahoo.com Abstract This paper is set out to determine the factors impacting most on the performance of the banking system in Nigeria. To do this, factor analysis technique was used on the factors identified by the collaborative study of the CBN/NDIC. The result revealed that factors such as undue interference from board members, political crises, undercapitalization and fraudulent practices are the most critical factors inhibiting the efficient performance of the Nigerian financial institutions. The author therefore contends that the just concluded N25billion recapitalization exercise of the central bank was a necessary but not a sufficient measure in the right direction. The sufficient measure must be one that controls all the identified critical factors at the same time.

1.0. Introduction
Banks in most economies are the principal depositories of the public's financial savings, the nerve centre of the payment system, the vessel endowed with the ability of money creation and allocation of financial resources and conduit through which monetary and credit policies are implemented. The success of monetary policy, to a large extent, depends on the health of the banking institutions through which the policies are implemented. As a result of this central role of banks in the economy, their activities have to be kept under surveillance to ensure that they operate within the law in line with safe and sound banking practices so that the economy will not be jeopardized. Hence, governments generally legislate to influence and/or...

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