Adeeko, Olukayode Adesope (1998) The law and policy of financial regulation and deregulation of Nigerian banking system. PhD thesis, University of Warwick.

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Abstract

This thesis is a study of banking regulation in Nigeria. It has three main objectives: to
explain the evolution and impact of banking regulation after independence to discuss the
reasons for the persistent failure of financial regulation; and to highlight the role of
external agencies in Nigeria's financial system.
The thesis offers a historical perspective on the developments in Nigerian banking
regulation, but focuses mainly on the period after independence. It examines the economic
and political theories that have influenced financial regulatory trends in Nigeria. It
considers these theories in their political and legal context. The thesis does not embrace
any theory in particular. Instead, its approach is pragmatic and comparative focusing on
the interaction between legal, political and institutional factors that have influenced
financial regulation in Nigeria.
The study shows that the pre-liberalisation regulatory norms were repressive and
inefficient. It argues that banking deregulation was introduced as an economic revolution
devoid of necessary corresponding political and legal changes. The core destabilising
factors are identified as inadequate regulatory powers, political corruption, political
instability, legal instability, policy distortions, and incongruous laws. The complicity of the
IMF and World Bank in this process is also discussed. Financial deregulation was
prompted by predatory politics characteristic of the Nigerian state; yet, deregulation has
aggravated the country's political instability and exacerbated prebendalism. The thesis
discusses policy options to break this vicious circle.

Item Type:	Thesis (PhD)
Subjects:	H Social Sciences > HG Finance K Law [LC] > KN Asia and Eurasia, Africa, Pacific Area, and Antarctica
Library of Congress Subject Headings (LCSH):	Banks and banking -- Nigeria, Banking law -- Nigeria
Official Date:	September 1998
Dates:	Date Event September 1998 Submitted
Institution:	University of Warwick
Theses Department:	School of Law
Thesis Type:	PhD
Publication Status:	Unpublished
Supervisor(s)/Advisor:	Faúndez, Julio
Sponsors:	Commonwealth Scholarship Commission in the United Kingdom
Extent:	xx, 355 leaves
Language:	eng

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