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GLOBALIZATION AND THE PERFORMANCE OF COMMERCIAL BANKS IN NIGERIA

ABSTRACT

The present study empirically investigates the effect of globalization on commercial banks performance in Nigeria in the period from 1980 to 2013 using Error Correction Mechanism (ECM). This has been motivated by the observed falling financial assistance to the economy by commercial banks even in the face of growing global participation. The result shows that a positive effect of globalization on improving performance of commercial banks in Nigeria will only occur at the price of time. Stated specifically, a percentage increase in participation in globalization will improve Nigerian commercial banks’ ability to extend credit to the private sector by 10 percentage points and above as time passes. The study recommends improvement in local content policies in prioritized sectors of the economy to shorten the time-cost and reverse the trend.

Keywords: globalization, commercial bank performance, economic performance, credit assistance, Nigeria.

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