BANKING FAILURE AND FUTURE DEVELOPMENT OF BANKS IN NIGERIA

For some years back in Nigeria, some banks have not been living up to expectations. During the free banking era, a lot of banks failed and this did not augur well for the economy. The researcher noted that bank failures had adverse effect on the economy. The study focused attention the general operations of the bank, its operational problems, consequences of bank failures on the business of manufactures and control measure, necessary in checking the incidence for the future development of banks in Nigeria. Bank failure is the inability of a bank to meet up with its set goals. In the past, banks that failed, did so because of some reasons like inability to honour depositors fund on request, improper accounting records, poor internal control and hunder capitalization. The study further reviewed the solutions and recommendation for bank failures and future development of bank in Nigeria. Materials for the study were sohread from secondary sources. This was supplemented with data gotten from text, newspapers, journals, magazines, library and central bank of Nigeria publications.