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Article Information:
Managing the Global Economic Meltdown in a Consolidated Banking Sector of Nigeria: Rhetorics or Realities
J. David Agaba and M.S. Tenuche
Corresponding Author: J. David Agaba
Submitted: 2009 December, 09
Accepted: 2009 December, 28
Published: 2010 January, 30 |
Abstract:
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This paper interrogates the implications of the global economic meltdown on the Nigeria Economy
within the framework of a consolidated Banking sector. It investigates the ability of the Nigerian financial
sector to withstand the challenges of the global economic meltdown in the face of the current crisis facing the
banking sector. W e argued in this paper that the financial melt down though a reality in the country's financial
sector, has limited impact on the economy because Nigeria’s economy had been heavily weighed down by
internal crisis. We how ever, argued nonetheless that because the global economic meltdown coincided with
the age of globalization that emphasis interconnectedness and breaking down of all market barriers, Nigeria
cannot be an exception to its devastating effects since globalization in the first instance is not a friend to
developing economies like ours.
Key words: Banking sector consolidation, central bank of Nigeria, economic development, economic meltdown, globalization, ,
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Cite this Reference:
J. David Agaba and M.S. Tenuche, . Managing the Global Economic Meltdown in a Consolidated Banking Sector of Nigeria: Rhetorics or Realities. Current Research Journal of Economic Theory, (1): Page No: 16-21.
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ISSN (Online): 2042-485X
ISSN (Print): 2042-4841 |
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