The influence of colonialism on Nigeria cannot be over emphasized. The influx of white explorers, traders and missionaries led to the development of settlements that differed from the traditional domestic environment. These new settlements were designed to reflect the norms, values and economic policies of the colonial masters.Africa, the land of blessed race, where the opportunists came to develop in order to colonize their resources for their good, was then left in vain hope(Allen, 2011). ...
INTRODUCTION The growth and development of an economy, depends greatly on how the country’s capital market thrives. The capital market can be an important facilitator of economic growth (Applegarth, 2004). Osaze (2000) is of the view that the capital market drives any economy to growth and development because the long term growth capital formation stems from it. Economic growth in a modern economy hinges on an efficient financial sector that pools domestic savings and mobilizes foreign capi...
ABSTRACT In spite of various reforms over the years, the Nigerian banking sector has continued to experience a number of bank failures. The period of 1994-2013 witnessed a wave of systemic distress culminating in another round of bank failures. Not-withstanding the heavy impact this ugly and recurring development has inflicted on this sector, the 2004 Banking Sector Reforms swept away 14 additional banks while the 2009 sanitization affected additional 7 commercial banks. The tenacity of ban...