Benue State University, Makurdi

The Survival of Nigerian Commercial Banks in the 21st Century: A Customer Service Approach

Tersoo Simeon Kpelai

Abstract

A suitable and well functioning financial system is a necessary condition for sustained economic development. The banking system as a virtually important economic institution is deeply influenced and in turn influences socio-political and economic reforms in our society. The Nigerian banking sector has witnessed dramatic changes in the last few years. Since the introduction of structural Adjustment Programme (SAP) in 1986, the industry remains one of the most dynamic in the country as there is always one or series of developments ranging from distress, revival, new entrance competition, technological re-engineering, re-positioning, regulations, mergers etc. over time. This changing phenomenon has poised challenges to and provided opportunities for the banking industry in Nigeria in its quest to stay afloat, the most challenging being commercial banking sub-sector.

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