Global Financial Meltdown And Its Effects On Nigeria Banking Sector (a Case Study Of Intercontinental Bank And First Bank Plc)

Both developed and developing countries around the world have been worried over the effect of the global financial crisis on their local economics. One would have noticed that nigeria is not exempted from the crisis. This is the major reason why this project was embarked upon to ascertain the effects of this global financial crisis on our economy but with the banking sector as our case study. The problem caused by this global financial crisis on our econoy and especially the banking sector cannot be over emphasied. The problems typically include increase unemployment, decreased consumer and business spending, declining stock prices, depreciation of naira against foreign currencies, sharp fall in the prices of shares and many more. The purpose of this research is to evaluate the effect of this global financial crisis on the banking sector and economy at large. For the purpose of this, this research, the method of questionnaire was used for data analysis was percentage formula and any percentage that is more than fifty (50) percent is accepted while below is not. The finding were that the crisis has really affected the nigerian banks negatively and the nigerian stock exchange as well, because of the trend continue, i am afraid most of them will go out of the business. Recommendation was also given that the economy should be diversified and that the activities of these banks should be checked to prevent mismanagement. 

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