The Causes Of Financial Distress And Bank Failure In Nigeria

(A CASE STUDY OF FIRST BANK NIGERIA PLC, ADUWAWA BRANCH) CHAPTER ONE INTRODUCTION 1.1              BACKGROUND OF STUDY            Recapitalization is the most recent trend haunting the financial sector of the Nigerian economy. It was introduced in the form of an official order by the Central Bank of Nigeria (CBN) and was issued to banks to consolidate their capital bases to the tune of a minimum of N 25 billion to be raised by each bank before 31st December 2005 thus causing many banks incapable of raising such fund to merge with other bank (Johnson, P.F.)           Recapitalization involves …