ABSTRACT In spite of various reforms over the years, the Nigerian banking sector has continued to experience a number of bank failures. The period of 1994-2013 witnessed a wave of systemic distress culminating in another round of bank failures. Not-withstanding the heavy impact this ugly and recurring development has inflicted on this sector, the 2004 Banking Sector Reforms swept away 14 additional banks while the 2009 sanitization affected additional 7 commercial banks. The tenacity of ban...