The Impact Of Interest Rate Deregulation On Commercial Banks’ Lending Operations In Nigeria (a Survey Of Union Bank Of Nigeria Plc Enugu

1.1 BACKGROUND OF THE STUDY  There had been administrative control on the nation’s interest rates until July 31, 1987 when, in consonance with the spirit of the structural Adjustment programme (SAP) of the Federal Government the Central Bank of Nigeria issued a circular on interest rates bordering on the deregulation of this financial sector of the economy.  As a signal to the direction, the Central Bank wanted the interest rate to go, the minimum Re-discount Rate (MRR) was raised from 11 to 15% which now peaks at 18.5%.  The apex financial institution (CBN) declared that intere…