CHAPTER ONE

1.0    INTRODUCTION

1.1    BACKGROUND OF THE STUDY

The trend in the Nation’s economy in this recent year particularly from the dawn of the democratic salting, the would be revealed that, this has been innovation and reforms to the various sectors of the economy most especially the banking sub-sector of the economy. This development in the banking sector is what is generally known s the bank recapitalization or bank reformation whereby the former capital base of various banks existing in the country was raised from two billion naira (N2 billion) to twenty five billion naira (N25 billion). This is by far the most profound monetary policy measure, witnessed by the banking industry in since its interception in 1892.

The key driving force behind this policy is to transform banks from the weak, marginal players they have been, to mega banks that would ultimately perform effetivelly in the strong global competitors. The second and equally important reason is to better position these banks to cope with the vagaries of the operating environment and endow them with the capacity to finance major project and real sector activity like their counterparts in the advance economics. This development has made the total number of bank in the country to be reduced to just twenty five.

Estate surveyors and valuers have over the recent years been able to discharged their professional duties and services prominent among which is valuation which is a bid to establishing the values of this bank so as to facilitate the merger acquisition, consolidation, asset sharing, etc on relevant bases. In order to present a comprehensive dissertation on this topic i.e the impact of the recapitalization process on the real estate sector. There is a need to build the impact from diverse and given necessary details as may be demanded.

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