AN APPRAISAL OF THE PERFORMANCE OF NIGERIA BANKING INDUSTRY IN POST CONSOLIDATION ERA

ABSTRACT
The current credit crisis and financial turmoil have
questioned the effectiveness of bank consolidation
programme as a remedy for financial stability and monetary
policy in correcting the defects in the financial sector for
sustainable development. The project attempts to examine
the performances of banks induced bank consolidation and
macroeconomic performance in Nigeria in a post
consolidation period. The work further analysis published
audited account of twenty (20) out of twenty – five (25)
banks that emerged from the consolidation exercise and
data from Central Bank (CBN), that is, the researcher made
use of secondary sources of data for the study. The research
employed the use of ordinary least square distribution in the
test of two hypotheses formulated.

Hypothesis 1, 2, 3, ‘t’ test
distribution were used by the researcher and all hypotheses
were accepted, while only ordinary least square analysis was
used in hypothesis two, which showed that non performing
assets of Banks has negative effect on the performance of
banks in the post consolidation exercise. More so the use of
simple percentage conversion were used in measuring or
determining the macroeconomic variables on the yearly
basis which covers the pre/post consolidation era 2004-
2005 for the research analysis in chapter four; the following
result/conclusion emerged from research project work: That
consolidation programme has not improve the overall
performance of banks significantly, and also has contributed
marginally to the growth of the real sector for sustainable
development; The bank sector is becoming competitive and
market forces are creating an atmosphere where many
banks simply cannot afford to have weak balance sheets and
inadequate corporate governance; That consolidation of
banks may not necessarily be sufficient tool for financial
stability for sustainable development and we recommend
that bank consolidation in the financial market must be
market driven to allow for efficient process.

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