Nigeria: Financial Sector Stability Assessment
IMF Staff Country Reports, May 28, 2013
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- Nigeria: Financial Sector Stability Assessment
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Bibliographic details
- Published: May 28, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484304440.002
Overview and Main Findings
- Discusses the macroeconomic performance and structure of the financial system in Nigeria.
- Nigerian economy experienced both domestic and external shocks in recent years.
- The economy continued to grow rapidly, achieving more than 7 percent growth each year since 2009.
- The performance of financial institutions has begun to improve, though some of the emergency anti-crisis measures continue to be in place.
- The regulatory and supervisory framework has gaps and weaknesses.
- Conclusion: The Nigerian economy has emerged from the banking crisis, and has the potential to enjoy an extended period of strong economic growth.
Subjects and Keywords (as provided)
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Commercial banks, Crime, Crisis management, Financial crises, Financial institutions, Financial services, Legal support in revenue administration, Revenue administration
- Keywords: AMCON bond, Anti-money laundering and combating the financing of terrorism (AML/CFT), bank consolidation, bank license regime, bank liquidation regime, bank supervisor, banking system, Commercial banks, CR, credit line, Crisis management, Global, intervened bank, ISCR, Legal support in revenue administration, set-up bridge bank, West Africa
Key Analytical Points (implicit in summary)
- Rapid GDP growth: more than 7 percent growth each year since 2009.
- Financial sector recovery: improvement in financial institutions' performance, but emergency anti-crisis measures remain.
- Regulatory/supervisory concerns: identifiable gaps and weaknesses that pose risks to sustained stability.
- Growth potential: post-crisis position suggests potential for an extended period of strong economic growth, contingent on addressing regulatory and supervisory deficiencies.
International Monetary Fund. African Dept. "Nigeria: Financial Sector Stability Assessment", IMF Staff Country Reports 2013, 140 (2013).
Content in this bundle
- Nigeria: Financial Sector Stability Assessment; IMF Country Report 13/140; January 22, 2013