EFFECT OF RECAPITALIZATION OF BANKS ON THE NIGERIAN ECONOMY.
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EFFECT OF RECAPITALIZATION OF BANKS ON THE NIGERIAN ECONOMY.
ABSTRACT
The worldwide phenomenon in the financial services industry is the consolidation of financial activity with the goal of ensuring financial stability. It is happening at a quick rate due to changes in the economic climate, which frequently modify the restrictions encountered by financial service organisations.
The primary goal of this research is to assess the impact of bank recapitalization on the Nigerian economy. Secondary data was acquired from the CBN statistical bulletin on GDP, bank capitalization, number of distressed banks, and total number of banks from 1990 to 2007. The collected data was analysed with multiple regression models in the statistical package for social sciences (SPSS).
The study found a significant correlation coefficient between the dependent and independent variables. As a result, our findings demonstrated a significant and hence favourable link between bank recapitalization, number of banks, troubled banks, and GDP.
As a result, this study advises effective training and workforce development, the construction of asset management companies (AMCs), cross-border mergers, and the use of current information and communication technologies.
These are designed to assure the system’s stability, efficacy, and efficiency. Thus, based on the analysed data and other findings, this research suggests that bank recapitalization has benefitted the Nigerian economy.
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