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Credit Risk Management in Bank Lending to Agriculture in a Globalized Nigerian economy

Macaver, Okerhe Joseph and Omankhanlen, A. E (2006) Credit Risk Management in Bank Lending to Agriculture in a Globalized Nigerian economy. UN ION DIGEST , 10 (1 & 2).

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The Nigerian economy is increasingly being globalized by deliberate government actions since July 1986 when the F edera] Government began the implementation of ! the Structural Adjustment Programme (SAP). The SP..P sought to deregulate and free the economy from government control with a view ro allowing market forces determine the production and consumption decisions of economic agents within the country. The deregulation process, which was accompanied by privatization and commercialization of government enterprises, has had far-reaching impacts on the entire economy. In particular, deregulation of interest rates affected bank lending to the real sectors of the economy, including agriculture. In more recent times, govel1'h'Tient adopted business consolidation strategies , viz mergers, acquisitions anu takeovers as part of its efforts to facilitate the ability of fl1ms in the financial services industry to become global market players. According to the Governor of the Central Bank of Nigeria, business consolidation in the banking sector was to, among other things, "make Nigerian banks compete favorably in the glob&] financial markets" and to generate a high capital base that "will provide banks with the resources to meet the cost of compliance in the areas of credit and market risk management" (Soludo, 2005: 98-99).

Item Type: Article
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 06 Nov 2014 13:00
Last Modified: 06 Nov 2014 13:00

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