Nigeria: Financial Sector Stability Assessment

International Monetary Fund

No 2013/140, IMF Staff Country Reports from International Monetary Fund

Abstract: This Financial Sector Stability Assessment on Nigeria discusses the macroeconomic performance and structure of the financial system. Although Nigerian economy experienced both domestic and external shocks in recent years, the economy continued to grow rapidly, achieving more than 7 percent growth each year since 2009. The performance of financial institutions has begun to improve, though some of the emergency anti-crisis measures continue to be in place. However, the regulatory and supervisory framework has gaps and weaknesses. In sum, the Nigerian economy has emerged from the banking crisis, and has the potential to enjoy an extended period of strong economic growth.

Keywords: ISCR; CR; bank liquidation regime; bank supervisor; credit line; AMCON bond; intervened bank; banking system; bank license regime; set-up bridge bank; bank consolidation; Anti-money laundering and combating the financing of terrorism (AML/CFT); Commercial banks; Crisis management; Legal support in revenue administration; Global; West Africa (search for similar items in EconPapers)
Pages: 132
Date: 2013-05-28
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