The Challenges Of The Global Economic Crisis And Nigeria’s Financial Markets’ Stability

The global economic crisis, which erupted with the meltdown of the United States subprime mortgage market in 2007, has been described as the severest since the Great Depression. The crisis was subsequently spread from the United States to other economies, both in developed and developing countries. In the case of Nigeria, the emergent global crisis has impacted negatively on the nation’s financial sector, triggering instability in banks and the capital market. The banking sector is shaken particularly hard, causing the Central Bank to inject more than N400 billion naira or US$2.72 billion into…