Retention Strategies in Post Consolidation Banking Industry in Nigeria (a Case Study...

CHAPTER ONE Introduction The Nigerian banking industry is one of the most dynamic and competitive industries in the Country. The banking industry has transformed rapidly in the last-place ten years, shifting from transactional and customer service-oriented to an increasingly aggressive surround in which competition for revenue is top priority. The Nigerian money box can now fit into the global definition of bank. integrating of the Nigerian Banking sector is one of many reforms of the Gen. Obasanjos administration that Nigerians swallow to embrace happily. (Victor E, 2007) Prior to the reforms, the industry was highly fragmented, with many banks having truly small and undiversified capitalisation. With a much higher capitalisation base, the Nigerian banking sector will be expected to bring in an important role in financing economic culture through increased credit to the private sector. These reforms will as well as serve to highlight crucial gaps in the skills currently to be found within the banking sector and those needed within the innovative banking environment.

Highlighting what he termed the current mismatch of skills in the sector, the regulator stressed that the sector will now need to founder professional bankers who can develop effective banking services, structure proceedings and drive down costs. (Soludo C, 2008) The world over, human capacity growing is the bedrock of any developmental initiative. And it has become a take aback reality that no country can traverse the frontiers of sustainable development without first of all building and in detail develop appropriate capacity and competency needed to offer such efforts. Indeed, perhaps one of the greatest impediment of developing economies both at micro and macro levels is not just financial inadequacies but the dearth and underdevelopment of capacity and the attendant competence to create, convert, sustain and maintain the available resources to achieve desired ends. Selecting and retaining... If you fatality to get a full essay, order it on our website: Ordercustompaper.com

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