The study of the impact of universal Banking is one of the critical for banks Nigeria to attain greater light. This borders most no the effect of the New concept in Nigeria banking system that tends to remove the functional barriers between commercial and Merchant banks, and consequently empowers the bank to undertake part from their conventional banking business, capital market operations and insurance services.
The chapter I stresses on the introduction. It equally deals with the background of study statement of problems, the objective of was based on exhuming the overall performance of the Nigeria banking system prior to the introduction of universal banking, research questions, significance and hypothesis to test.
On chapter 2, the literate review was highlighted.
Chapter three (3) deals with the research design and the primary and secondary data .
Chapter four (4) stressed on the presentation of data and analysis. While chapter 5 compresses of the condition with the above procedures, the research copies to carry out the research work successfully.
1.0 INTRODUCTION 1
1.1 BACKGROUND OF THE STUDY
1.0 REVIEW OF RELATED LITERATURE
2.1 OVER – VIEW OF NIGERIA FINANCIAL SYSTEM 16
COUNTRIES 32
3.1 RESEARCH DESIGN 39
4.1 DATA PRESENTATION 45
5.1 SUMMARY OF FINDINGS 76
BIBLIOGRAPHY 83
APPENDIX 1. COVERING LETTER 86
The performance of the Nigeria banking sector has been a serious concern to the generality of Nigeria. Such Nigerians includes but are not restricted to politicians, the military, the academic community , industrialist , traders, and even the peasant community. As one reflects on the present state of the sector, one cannot but come to the sad conclusion that all is not well.
Actually, the method of expressing the dissentient within the banking sector may be varied but there is umainity in feedings. These feelings have one interpretation, which can be described in a polite language as bewilderment at the modes of operation of banks.
The questions that readily comes to mind is encapsulated in one sentence; what is wrong with our banking sector ? other questions fact draws from this includes.
Whatever the reasons that can be adduced for the unimpressed performance of this subsection, one thing is crystal clear, the banking sector is sick and may have lapsed into comma, therefore a serious surgical operations may be required to revitalize and sanitize it.
Furthermore, inspite of drastic changes that took place in the Nigeria Banking sector within the last decade in the area of institutional framework, legal and regulatory financial, the overall performance of this industry can be said to be grotesque, absend and in congruous with the expectation of Nigerians. (Emekewue, 2003) .
With the ever – increasing deregulation and liberalization of the financial system and the revolution in information technology, the Nigeria economy cannot but be affected by the globalization of the world economy. It will be faced with foreign competition for it is handily position for Nigeria to benefit from position result this phenomenon, such as capital flows, it mater have a health and sound financial system and institution with the capacity to play the global gave efficiently and effectively (CBN) Ballion 2003
Moreover, within the context of globalization, deregulation and liberalization, the preference will before a system that permits unfettered choice which is a vote for the universal banking, where the financial bankers between banks are removed and scope and operation of banks enhanced.
This, the concept of universal banking will allow banks the authority to decide on its portfolio of business, select appropriate delivery channels and faculties within an appropriate and applicable regulatory framework. The distinction between money, capital market and insurance business is survived, and the emergence of large financial conglomerates and banking group will be encourage.
The banking crisis that gives rise to the failure of may banks has brought the venerability of the banking sector to constant focus. The failure may banks in fail country has not only posed integrity question but has greatly reduced the confidence, which is the greatest assets of banks.
This the researcher intends to study and examine the impact of the universal banking in Nigeria financial system and to make appropriate recommendation for optimum performance
The strategic importance of the financial system cannot be over emphasized in every economy. (Anyanwu Okoro, 2003) . This continuos emphasis stern from very sensitive nature of the financial which control a substantial interest in the system.. Hence, the objectives of the research are :-
The researcher has formulated the underlets questions which according to he will provide the basis of carrying the research in line with the objective of the study.
1. What is the overall performance of the banking industry prior to the introduction of the universal banking.
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