Nigeria: Publication of Financial Sector Assessment Program Documentation––Technical Note on Crisis Management and Crisis Preparedness Frameworks

May 28, 2013

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Format: Chicago

Nigeria: Publication of Financial Sector Assessment Program Documentation––Technical Note on Crisis Management and Crisis Preparedness Frameworks, (USA: International Monetary Fund, 2013) accessed November 23, 2024

Summary

The Nigerian financial system underwent a banking crisis in 2008–09, owing to the global financial crisis and domestic events. The decisive crisis response effectively stabilized the banking system, but the challenge now is to devise a credible exit strategy. The Central Bank of Nigeria (CBN) has a broad resolution toolkit, which was put to use during the crisis to resolve the intervened banks. The Nigerian authorities set up the Asset Management Corporation of Nigeria (AMCON) to purchase nonperforming loans of banks.

Subject: Bank resolution, Bank resolution framework, Banking, Commercial banks, Crisis management, Deposit insurance, Financial crises, Financial institutions, Loans

Keywords: Africa, Australia and New Zealand, Bank liquidation regime, Bank management, Bank resolution, Bank resolution arrangement, Bank resolution framework, Bank resolution phase, Banking sector, Banking system, Bridge-bank measure, Business plan, Central Africa, Commercial banks, CR, Credit line, Crisis management, Economic value, Financial support, Financial system, Global, Intervened bank, ISCR, Loans, Managing director, NDIC watch list, Sacked bank CEO, West Africa

Publication Details

Pages:

50
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/143
Stock No:

1NGAEA2013005
ISBN:

9781484373040
ISSN:

1934-7685

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