A Critical Assessment Of The Survival Strategies Of Deposit Money Banks In A Depressed Economy With Special Reference To The First Bank Of Nigeria Plc

INTRODUCTION The practice of banking and financing in Nigeria is culturally rooted and dates back several centuries ago. In the 1940s, the traditional financial institutions provide access to credit for rural and urban low- income earners. They are mainly of the Informal Self Help Groups (SHGS) or Rotating Savings and Credit Associations (ROSCAs) types. The informal financial institutions generally have limited outreach due primarily to paucity of loanable funds. In order to enhance the flow of financial services to Nigerians, government has in the past, initiated a series of publicly finance…