. As the performance of banks are almost obscure in comparison with any non-financial firms unless the banking operations are more information intensive their state of business cannot be easily gauged Banks could often hide their problems by neutralizing the bad loans with increased deposits in the balance sheet, future payback promises etc. (Caprio, and Klingebiel, 1996). Nigeria is a country blessed with abundant reserves of natural resources that could support the long-term growth plans of the country. Thus the banking sector holds a considerable promise in the development plans of the Nigeria into the future. This aspect was hardly been through to the focus due to various factors like unstable governance systems, soaring debts during the 1990 period. In an effort to transform the Nigerian banking sector several creative efforts and effective interventions were made in the past. The present efforts are part of the fourth phase of reforms implemented in Nigeria sine 2004. During this period it is expected that intervention of Nigerian monetary authorities could eliminate structural and operational weakness prevailing in the system besides creating avenues for private sector participation for enhancing the overall growth (.Balogun, 2007): Inspite of the best efforts taken to implement the reforms it is debated that these reforms have hardly resulted in the expected results. Thus a detailed research is undertaken to asses the present performance of the banks functioning in Nigeria and the impact of banking in the overall growth process in the country. The results from the research would give a detailed picture on the performance of the banks, the growth strategy adopted, public confidence in the banking operations.
The detailed studies have been undertaken to explore the reasons behind the failure of banking sector in the developing and transition economies. The results