BANK RECAPITALISATION AND ITS EFFECT ON NIGERIAN BANKING INDUSTRIES
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BANK RECAPITALISATION AND ITS EFFECT ON NIGERIAN BANKING INDUSTRIES
The banking industry in Nigeria has been marked by periods of good and bad fortune, chequered and battered from the early periods of the introduction of banking culture. The periods between 1947 and 1952 witnessed rapid growth of indigenous banks in Nigeria. This increase in the number of indigenous banks, was followed also by a high rate of failure of such banks. By 1954, twenty one (21) out of the twenty five (25 banks established and operating in Nigeria had closed their doors or failed. The failures were attributed mainly to mismanagement of the banks, lack of adequate capital and inexperienced personnel.
The banking industry in Nigeria has been marked by periods of good and bad fortune, chequered and battered from the early periods of the introduction of banking culture. The periods between 1947 and 1952 witnessed rapid growth of indigenous banks in Nigeria. This increase in the number of indigenous banks, was followed also by a high rate of failure of such banks. By 1954, twenty one (21) out of the twenty five (25 banks established and operating in Nigeria had closed their doors or failed. The failures were attributed mainly to mismanagement of the banks, lack of adequate capital and inexperienced personnel.
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