the impact of public policy on the banking system in nigeria

Table 1
Assets <strong>of</strong> <strong>the</strong> Main Financial Institutions 1980-1993
(millions <strong>of</strong> Naira: constant 1990 prices)
Type <strong>of</strong> Institution 1980 1993
CBN
40860 (33.1)
113029 (46.4)
Commercial Banks 71358 (57.7) 88457 (36.4)
Merchant Banks 4402 (3.6) 21844 (8.9)
DFIs 2865 (2.3) 4220 (1.7)
Insurance Companies 1266 (1.0) 4850 (1.9)
Hire Purchase/Finance Companies - 4725 (1.9)
O<strong>the</strong>r 2873 (2.3) 5605 (2.8)
Total 123624 (100.0) 242730 (100.0)
The percentage distribution <strong>of</strong> <strong>the</strong> total assets are in paren<strong>the</strong>ses.
Sources: Ojo (1994b: 256); IFS.
Table 2
Number and Ownership Structure <strong>of</strong> Commercial Banks: 1960-1992
Year
State
Govt
FGN
FGN/
Foreig
n
Foreig
n
Private/
Foreign
Private Miscellaneous Total
1960 1 7 3 1 12
1970 6 7 2 15
1980 10 7 2 1 20
1985 14 7 5 2 28
1992 25 2 6 7 26 66
Key: - State government: <strong>the</strong>se are banks in which state governments (or regional
governments in 1960) held majority or minority equity stakes.
- FGN: banks in which <strong>the</strong> Federal Government held equity stakes without foreign
partnership, i.e. ei<strong>the</strong>r as sole shareholder or in partnership with Nigerian private
investors.
- FGN/Foreign: joint ventures between foreign investors and <strong>the</strong> Federal
Government: Nigerian private investors held minority stakes in some <strong>of</strong> <strong>the</strong>se
banks.
- Foreign: banks with majority foreign share holdings.
- Private/Foreign: banks in which Nigerian private investors held majority stakes and
foreign investors minority stakes.
- Private: banks wholly owned by Nigerian private investors.
Sources: Miscellaneous.
26