TITLE:
AUTHORS:
Israel odion Ebiostale IDEWELE, Benedette Nneka Okezie,Lawrence Sunday Edeh, Idume Gabriel Ish, Nnam Hilaryx Ikechukwu, Kingsley Sunday Oyekezie
Page: 39-52 Vol: 19 Issue: 10 Year: 2024
ABSTRACT
This study looked at how banking reforms affected Nigeria’s economic growth. The banking industry is one of Nigeria’s most heavily regulated industries. It contributes significantly to the country’s economic progress. The nature of growth and the system’s efficiency both have an impact on economic growth. Data for the study were obtained from the Central Bank of Nigeria’s Statistical Bulletins, National Bureau of Statistics publications, and Deposit Money Bank annual reports. Methodology: Time Serial Ordinary Least Squares (OLS) Several relapses were used in the study. The data show that bank reform boosts economic growth in Nigeria. Results: Business banks’ presentation influences monetary development utilizing information from Nigeria. Also, Bank Credit exerts positive and significant impact on economic growth in Nigeria. Recommendation: The monetary authorities should constantly examine the Minimum Capital Base of banks when implementing banking reforms because it has the potential to stimulate Nigerian economic growth. He also proposed that credit to the private sector be guided to ensure proper implementation. According to the studies, credits to the private sector should be targeted at need groups in order to have an impact on the economy.
Keywords:
Banking Reforms; commercial banks’ performance;NigeriaEconomy Growth; Credits; private sector lending.
Received: 07 September 2024
Accepted: 09 October 2024
Published: 14 October 2024
