Challenges of the banking consolidation in Nigeria

Abstract

This paper discusses the salient challenges that the Central Bank of Nigeria (CBN) and the new mega banks may face as a consequence of the banking consolidation reforms in Nigeria. Surmounting these challenges will require CBN's commitment to implementing the Basel II directives and instituting adequate Act of Parliament to enforce all requirements and directives to the emergent banks. On their part, the emergent banks will need to adopt a decentralised system and employ adequately trained staff, particularly in risk and credit management. NESG Economic Indicators Vol. 12 (2) 2006: pp. 25-31