Regulation, deregulation and bank marketing in Nigeria

Abstract

Bank marketing is deregulation friendly in Nigeria. This observation derives from the emergence of strong marketing orientation in banks following the SAP-induced liberalization of 1989. Advertising, product development/ innovation, up-front payment of interest on deposit and personal service that came with liberalization, started to wane in 1993 when government reintroduced some controls. However, marketing must not be seen as a tool needed only in a liberalized environment. It is necessary even in control regimes.