An economy is sustained when the productive capacity caters for the future,and the industry and trade are controlled for such an economy to maintain interdepence of trade, and all the segments of the economy are not in distress situation. However, it has been observed that in a crisis ridden economy, the managerial capability to resolve financial crisis is a major challenge in the segment of the economy as accountability is missing or not well defined. Investors have lost their investment and many institutions have been liquidated, and investors have lost their confidence in investing in the economy, while responsibility accounting is totally neglected. We adopted ex-post facto research design where macro data of all the banks for independent variables, and the Gross Domestic Product for the dependent variable were obtained from Central Bank of Nigeria, Nigeria Stock Exchange and National Bureau of Statistics. The time frame for the study was 17 years from 1997 to 2013. Linear regression and multiply regression statistical methods were used with the aid of E-view accounting statistical package. The result reveals that there is a strong relationship between all the variables for managerial capability and accountability in a financial crisis ridden economy like Nigeria. We therefore recommend that for effective managerial capability to achieve accountability result that will bring stability, solvency and sustainable performance growth to an economy, capital, assets, liquidity, profit, dividend, and equitable tax paid should the key variables in the strategic planning of every profit making organisation in assessing managerial capability that will bring accountability in an economy.