An overview of the Nigerian financial market before and during the deregulation of the economy 1955 - 1993

Financial services in Nigeria have experienced a great deal of transformation both in the number, quality and varying degrees of services they provide. However, the positive impact from such transformation in the development of the real sector of the economy has not been really actualized. This can be attributed to the practise amongst operators that placed their individual corporate interest higher than the larger economy. The search for steps to actualized corporate interests had forced most operators to imbibe practises that are inimical to the image of the country and its investment climate. This paper presents an overview of the operations of the financial sector of the economy especially during the deregulation of the economy and government efforts to make the sector responsive to rejuvenate the economic activities in the country. (Sav Dev/DÜI)