The Impact of the Consolidation of the Banking Sector on Nigeria Economy

Emernini Fabian and Ugwoke Theophilus Ifeanyi

International Journal of Financial Economics, 2015, vol. 4, issue 1, 8-22

Abstract: This paper examines the impact of the Consolidation of the Banking Sector on Nigeria Economy specifically the 2005 CBN Consolidation of Banks which increased the minimum capital base from N2 billion to N25 billion. A well developed and vibrant banking Sector is the bedrock of the development of any economy. The rationale for this Consolidation became evident following the failure of many banks to meet up their statutory requirement and obligations as the agent of financial stability and economic development of the country. This study using primary data (questionnaires) and Secondary data investigates the impact of the recent banking Sector Consolidation in Nigeria economy. Five among the banks that were fully involved in the mergers and acquisitions were investigated. When the data obtained from the five banks were analyzed, it was found that the banking Sector Consolidation impacted positively and significantly on the economy of Nigeria.

Date: 2015
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