REGULATORY FRAMEWORK AND BANKING REFORMS IN NIGERIA – A SYMBIOTIC NECESSITY
Authors:
OLANREWAJU Pius
Publication Type: Journal article
Journal:
ISSN Number:
0
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Abstract
The purpose of this paper is to examine the regulatory regimes in Nigeria with particular reference to the financial sector of the economy. It highlights the importance of financial sector regulation and supervision; Techniques of supervision; and obstacles to effective regulation and supervision. This paper relied essentially on secondary data and employed descriptive analytical approach. The study found out that the regulatory regime is very weak and not proactive enough to address some of the fundamental problems affecting the banking industry. In order to solve these problems, we suggested that there is need to establish regulatory goals, crafting regulatory mechanisms that balance efficiency and service delivery goals, good corporate governance and determining the regulator’s role in promoting competition.