Department of Finance

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A Survey of the Implication of Merger and Acquisition on the Nigerian Banking Sector
(IJECM.co.uk, 2015-06-30) Ayodele, Thomas
The paper surveyed the implication of merger and acquisition on the Nigerian Banking Industry using ECO Bank Nig. Plc. as a case study. The aim of the paper was to find out how the merger and acquisition strategy has fared in improving banks’ performance and instilling more confidence in the mind of depositors. Both primary and secondary data were used for the study. The primary data were collected through the use of questionnaire while the secondary ones were collected by extraction from the banks’ records and the record of the Central Bank of Nigeria (CBN). The primary data were analysed with the use of tables, percentages and the paired sample t –test, while the secondary data were analysed with the use of regression and ANOVA. It was discovered through the test and the hypotheses that the bank surveyed has fared better in terms of service delivery and overall performance after merger and acquisition than before merger and acquisition. It was therefore recommended that the monetary authorities should make the strategy an ongoing phenomenon so as to boost the capital base of the Nigerian banks and to instil confidence in the depositors by guiding against fund diversion among the big players in the Nigerian Banking Industry. This will enhance stability in the system and improve economic development of Nigeria.