By Emuan, Ebatamaehi Joel
Distress in the Nigerian banking industry has today become a great source of concern to the entire financial system. The scale was generally modest until 1989. Before then, serious incidents of distress were relatively new and far between and generally amenable to control by the monetav authorities. From 8 in 1990, the number of banks adjudged technically distressed rose steadily to 45 in 1994 and 57 in the first quarter of 1995.