Banking Reforms in Emerging Markets: An Introduction

Abstract

After the successful democratic elections in Nigeria in 2003, the key priority for the Obasanjo-led administration was to institute — and follow through with — far-reaching, multi-faceted reforms in all sectors of the economy. During its first term (1999–2003), the administration had been unable to drive through any large-scale reforms in the major sectors of the economy successfully due to the institutional challenges created by the previous sixteen years of military rule.