Sample of Banking Industry in Nigeria.

© Kamla-Raj 2011 J Economics, 2 (1): 57-65 (2011) Effects of the Consolidation of the Banking Industry on the Nigerian nifty merchandise Donwa Pat* and Odia James** discussion section of Accounting, University of Benin, P.M.B 1154 , Benin city 300001, Nigeria Telephone: 234-8056157977; E-mail: pdonwa@yahoo.com KEYWORDS Consolidation.Capital Market. Banks. Banking Industry ABSTRACT The account investigates the clash of the consolidation of the money boxing companying industry on the Nigerian Capital Market between 2004 and 2008 using primal (questionnaires) and secondary data from the Nigerian Stock Exchange. When the data was canvas with the chi-square test and ANOVA, it was found that bank consolidation affected significantly the primary marketplace as most of the banks had to go to the corking market to raise the need amount by issue securities. The secondary market was negatively affected initially collect to fall in bank stock prices. However, as market confidence rekindled and the consolidation deepened with hardheaded prospects, the secondary market likewise revived. Bank consolidation has increase public awareness and trading operations of the Nigerian bang-up market just as the jacket market has continued to be an easy and cheap seminal fluid of funds for banks in the post- consolidation era.

Also, the consolidation of the Nigerian Banking arena has positively impacted on the market capitalization and the all-share world power of the Nigerian Stock Exchange. establish on the findings, it is recommended that the bank and capital market regulatory govern ing should continue to monitor and establis! h reforms program that will mitigate reposition the banking industry as a major sham in the Nigerian Capital Market and the economy. INTRODUCTION The banking clay plays a fundamental enjoyment in the growth and learning of any economy. In fact, the health of the banking system of a res publica determines the well-being of the economy (Osaze 2000). The Nigerian banking sector has undergone remarkable changes since...If you urgency to get a blanket(a) essay, order it on our website: OrderCustomPaper.com

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