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African Successes, Volume IIIModernization and Development$
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Sebastian Edwards, Simon Johnson, and David N. Weil

Print publication date: 2016

Print ISBN-13: 9780226315720

Published to Chicago Scholarship Online: May 2017

DOI: 10.7208/chicago/9780226315867.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 15 October 2019

Were the Nigerian Banking Reforms of 2005 a Success … and for the Poor?

Were the Nigerian Banking Reforms of 2005 a Success … and for the Poor?

Chapter:
(p.157) 4 Were the Nigerian Banking Reforms of 2005 a Success … and for the Poor?
Source:
African Successes, Volume III
Author(s):

Lisa D. Cook

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226315867.003.0004

The Nigerian banking system was in crisis for much of the 1990s and the early 2000s. The reforms of 2005 were ambitious in simultaneously attempting to address safety, soundness, and accessibility. This paper uses published and new survey data through 2008 to investigate whether bank consolidation and other measures achieved their stated goals and whether they also enhanced development, efficiency, and profitability. Following the reforms, banks are better capitalized, more efficient, and less involved in the public sector but not more profitable and accessible to the poor. While there is greater supervision and less fragility, recorded distress was artificially low. The improved macroeconomic environment also explains some of the variation in observed outcomes and likely enhanced the efficacy of reforms.

Keywords:   bank reform, financial liberalization, poverty alleviation, Nigeria

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