Concept of Mergers & Acquisitions in the Nigerian Banking Industry

The book is about the concept of Mergers & Acquisitions in the Nigerian Banking industry: The Gains and Pains. It was birthed out of the need to take a deeper look at the Nigeria's bank consolidation exercise at the time(2004). When the announcement was made that banks in the country would be expected to increase their minimum paid up capital base to N25 billion from N2 billion, there were hues and cries. Many, including those who are intellectually sound enough to understand the rational behind the directive were sceptical about the government's intention through the apex bank - Central Bank of Nigeria(CBN). In this book, the concept is explained; the procedures for Mergers & Acquisitions were identified; the legal requirements, the cultural dimensions, the (possible) gains & pains of any consolidation exercise in the Nigerian banking industries to the shareholders, management/employees, customers, etc., were explained. Suggestions on the need to adhere strictly to the laws guiding Mergers & Acquisitions were also made. Based on the tested hypothesis, it was concluded that there are both significant gains & pains to to be enjoyed or suffered by the various stakeholders.