Competition for Bank Deposits In Nigeria.

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Owualah, S.I.
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Giordano Dell-Amore Foundation.
This paper is a follow-up on an earlier study by Professor o. Teriba in 1968 on the competition for bank deposits in Nigeria. Consequently it examines the changes in the competition for bank deposits following the enactment of a comprehensive Banking Act in 1969 which among others gave rise to the introduction of monetary policy circulars by the Central Bank of Nigeria. Other factors thought to impact competition for deposits include the growth in number and type of deposit-taking institutions, the entry of development finance institutions and the removal of the dichotomy between expatriate and indigenous commercial banks. The findings showed a steady growth in bank deposits in the face of such impediments to deposit mobilization like extreme rigidity in interest rates and banks' unfriendly attitude to small savers. The paper concludes that the observed growth is not necessarily the result of concerted efforts of banks to compete for deposits but rather the increasing sophistication in the banking habits of most Nigerians.
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Economic Competition , Commercial Banking
Owualah, S. I. (1984), Competition for Bank Deposits In Nigeria. Savings and Development, Quarterly Review, Vol. 8, (2), p.159 - 173.