FINANCIAL CRISIS IN THE NIGERIAN BANKING SECTOR ROLE, EFFECTS AND SOLUTIONS
This is a research project carried out to identify and determine the role, effects and solutions of financial crisis in the Nigerian banking industry, a study of selected banks (First Bank of Nigeria Plc, and Intercontinental Bank Plc). A sample size of 200 respondents all randomly selected from the staff and management (both senior and junior) and customers of First Bank Nigeria Plc and Intercontinental Bank Plc was used in this study. Both primary and secondary data were collected and analyzed using percentages and chi-square test. The researcher, based on the data collected and analyzed, found that poor liquidity is a salient factor affecting the viability of Nigerian Banks; incompetent and inefficient management gives rise to poor performance of banks in Nigeria: Diversion of credit by clients of commercial banks does not necessarily contribute to bank distress; and undercapitalization of commercial Banks does not only militate against the development of Nigerian banking sector. Finally, the findings were summarized, conclusions reached and recommendations made.
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