CHAPTER ONE .
INTRODUCTION.
1.1 STATEMENT OF THE PROBLEM.
levitt (1983) in discussing the globalisation of markets state that "We live in a rapid globalising world and certain national identifiers like taste, technology, market and finance are no longer constrained by national boundaries. They operate on a global basis. The defining features of globalisation are the interdependence and connectedness of the economics, politics and culture of nations and not uniformity of markets and taste of a single country- (Yong M, 1989).
Globalisation is fast spreading to all corners of the world through multinational organisations spreading their business due to expansion to seek new opportunities in under developed markets. Well this is very noticeable in all sectors or industry of the Nigeria economy oil industry, aviation industry, education, health, manufacturing, information technology and to mention a few the banking industries. But for the purpose of this dissertation we will focus on the effect of globalisation to the banking sector. The development has it being very helpful or not. Like every other sector globalisation has its benefits and their costs especially when multinational are coming to invest all for the right or wrong reasons.
In this international market place, Nigeria becomes an interesting test case. Regarded by the rest of the world as one of the poorest nations, the country has suffered from typical Western biases about developing countries. The problem faces by a developing country like Nigeria is enormous ranging from political, economical, health, social cultural education, infrastructural and even population explosion (Archibugi (1999) .
What benefits has globalisation brought into the banking sector in term of knowledge, capital, competition, job opportunities through cross borders operation etc and also how has globalisation through the presence of multinational banks merge the Nigeria economy with other countries of the world.