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Policy on the Run: Currency Re-denomination and Bank Manipulation

In: The Nigerian Banking Sector Reforms

Author

Listed:
  • Seth Apati

Abstract

By 2006, the Nigerian economy had finally taken off on a path of near-sustainable growth, even adjusting for the spurious growth in the banking sector. With the average annual growth rate of the Nigerian economy shooting from less than 3 per cent in the period 1994–9 to nearly 4 per cent between 1999 and 2003 and up to 6 per cent in the period 2003–7, there were several indications that the economy might finally have entered a recovery phase. Driven by the non-oil sector, with the average growth rate doubling in the five years up to 2007, industries such as telecommunications had become the fastest growing.

Suggested Citation

  • Seth Apati, 2012. "Policy on the Run: Currency Re-denomination and Bank Manipulation," Palgrave Macmillan Studies in Banking and Financial Institutions, in: The Nigerian Banking Sector Reforms, chapter 5, pages 71-103, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-30535-9_5
    DOI: 10.1057/9780230305359_5
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    Cited by:

    1. Babatunde Akinmade & Festus Fatai Adedoyin & Festus Victor Bekun, 2020. "The impact of stock market manipulation on Nigeria’s economic performance," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 9(1), pages 1-28, December.

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