The Relationship between Regulatory Inconsistencies and Nigerian Banking Industry

Nkiru Patricia; Chude Daniel Izuchukwu

The Relationship between Regulatory Inconsistencies and Nigerian Banking Industry

Nkiru Patricia * §

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Chude Daniel Izuchukwu

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§ ANAMBRA STATE UNIVERSITY

The Relationship between Regulatory Inconsistencies and Nigerian Banking Industry

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Abstract

Traditionally, the role of banks in any economy consists of financial intermediation, provision of an efficient payment system and serving as a conduct for the implementation of monetary policies. It is has been postulated that if these functions are efficient, the economy would be able to mobilize meaningful level off savings and channel such frauds to deficit unit, which will increase the gross domestic product (GDP) and create employment in long-run. This objective of this study is to investigate the implications of regulatory inconsistencies on the Nigerian banking industry. Regulation generally points to some kind of intervention in any business which ranges from explicit legal control to informal peer group control by government or some other such authoritative bodies. The methodology used in carrying out this work is descriptive desk research. The findings shows that regulatory in consistencies of Central Bank of Nigeria (CBN), Nigeria Deposit Insurance NDIC, Financial regulatory coordinating committee (FRSCC) have not guaranteed effective & efficient banking practices in Nigeria. Also each administrative regime propound new banking regulation that is abounded by the next regime thereby contributing to bank distress & failure. We recommend that regulatory agencies should be more proactive and be consistent regulatory policies; critical analysis should be carried out before implementation and the use of professionals and academia is necessary for the achievement of regulatory & supervisory policies in Nigerian banking system.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

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Not applicable for this article.

How to Cite This Article

Nkiru Patricia, Chude Daniel Izuchukwu. 2014. "The Relationship between Regulatory Inconsistencies and Nigerian Banking Industry". Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 14 (GJMBR Volume 14 Issue C4).

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

Banking Industry central bank of nigeria (CBN)nigeria deposit insurance corporation (NDIC)regulatory inconsistencies

Classification

GJMBR-C Classification JEL Code: G20

G21

Submission ReceivedDecember 13, 2013
Peer Review Double Blind
Handling Editor
Accepted January 4, 2014
Published January 15, 2014

Version of record

v1.2

Issue date

September 4, 2014

Language

English

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Article Matrices

Total Score: 150

Country: Nigeria

Subject: Global Journal of Management and Business Research

Authors: Chude, Nkiru Patricia, Chude Daniel Izuchukwu (PhD/Dr. count: 0)

View Count (all-time): 274

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Publish Date: 2014 01, Wed

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Total Downloads: 149

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