BANK FAILURE AND ECONOMIC DEVELOPMENT IN NIGERIA

Banks occupy the most strategic point in the financial system of the economy. For a total of banks to between 1992 to 2002 a space of four years, means that something definitely is wrong. The certain question has been asked. Solutions proffered and prospects for the future explained but none of them seems to have solved the problem. This study is not antagonistic of any other rather it is complimentary. Others works have been used here and duly acknowledged but everything is with an intent to find a lasting solution to the issue of bank failure. The study was based upon data collected through information sifted from books, journals annuals, periodicals. In conclusion, it will be quite expedient to point out that the Nigerian economy is still underdeveloped one and will take the astuteness of every single Nigeria to get it out of the doldrums. It is only when the economy becomes stable that we shall have a very stable banking environment where failures might not be entirely absent but reduced to rate. The task is not only for the authorities. Everyone has a role to play.