prefix: doi.org/10.52283/1.ajbmr |
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The Impact of Deregulation of the Economy on Nigerian Commercial Banks;
A Case Study of Some Selected Commercial Banks in Ilesa, Osun State
â–ºOpeyemi Philips ABOGAN, Egbewole OLAJIDE and Olusola OLOBA
10.52283/NSWRCA.AJBMR.20130310A02
ABSTRACT
The study looks at the impact of deregulation of the economy on Nigerian commercial banks; A case study of some selected commercial banks in Ilesa, Osun State. The economy policies pursued prior to 1985 made the Nigeria economy price distortions created by a highly over-valued currency and inappropriate pricing of agricultural and other local products. The control measure introduced prior to deregulation of the economy were unable to improve the economy positively. Instead, that period was characterized by short-supply of industrial inputs, plant closure, large retrenchment of workers, and shortage of goods and price inflation coupled with unfavourable balance of payment. Data were gathered from some selected commercial banks in Ilesa, Osun State Nigeria through issuing of questionnaires and from some secondary sources such as CBN statistical bulletin, Publications and other relevant materials. The major deregulation policies were deregulation of interest rates structure, introduction of second tier foreign exchange market. Since the Federal Government is contemplating deregulation as the only paramount solution to distorted economic structure. The study therefore recommends that banking industry [commercial banks] needs to reposition itself to take full advantage of the gains which might arise from such deregulation. Commercial banks should equally anticipate and sensitize themselves with the challenges of a deregulated economy.
Keywords: Deregulation, Commercial Banks, NigeriaPages:19-27 :: Download-View
