1. Home
  2. / Ibrahim Babangida
  3. / What major decision on banking reforms did Babangida take during his regime?

What major decision on banking reforms did Babangida take during his regime?

  • Removed the official sectoral allocation of bank credits

  • Privatized all banks

  • Closed down all foreign banks

  • Nationalized all banks

Answer

One major decision on banking reforms that Babangida took during his regime was to remove the official sectoral allocation of bank credits. This meant that banks were no longer required to lend a certain percentage of their loans to specific sectors of the economy, such as agriculture or manufacturing.
Ibrahim Babangida: Unraveling the Enigmatic Military President of Nigeria

Ibrahim Babangida: Unraveling the Enigmatic Military President of Nigeria

Take the Ibrahim Babangida Quiz
Subscribe newsletter

Subscribe Now!

Learn something
new everyday

Playing quizzes is free! We send 1 quiz every week to your inbox