Financial Deregulation and Performance of Deposit Money Banks in Nigeria
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2022-12
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Lead City University
Abstract
Banking in African like Nigeria has been undergoing gradual but stable since the turn of the 1990s, following the widespread introduction of financial reforms aimed at improving competition and efficiency. One of the most complex issues facing government is identifying the appropriate level and form of intervention in banking sector when these failures occur. In the light of this, the study examined financial deregulation and performance of deposit money banks in Nigeria. Simple random sampling technique was adopted for this study. Also, expo factor research design is adopted for this study since is a secondary data and both descriptive and inferential statistical tools were also employed with this study. This study also employed multiple regression model and Pearson Product Moment Correlation Coefficient (PPMCC) was used to analyze the nature of the variables. Given a P- value of 0.0261, R2 of 0.8526 and admitted R2 of 0.7346. Results from the analysis revealed that the combined effect of financial deregulation indicators on economic development is significant given a P- value of 0.0073, R2 of 0.9132 and adjusted R2 of 0.8526 and adjusted R2 of 0.7346. Also, the analysis revealed that the combined effect of financial deregulation indicators on economic development is significant given a P- value of 0.0073, R2 of 0.9132 and adjusted R2 of 0.8438. The study further shows that financial deregulation indicators exhibited a centered significant effect on the performance of Nigerian deposit money banks following the joint significant value of P = 0.0036, R = 0.8001, adjusted R2 = 0.6401. In view of the findings, the study thereby recommended that there is need to strengthen the surprising abilities of the regulation bodies. This will go a long way in building confidence in the financial sector and enables the sector to discharge its financial intermediation role efficiently.
Keywords: Deposit Money Banks, Financial Deregulation, Financial Performance, Deregularisation
Word Count: 297
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Kate Turabian