Interbank lending was also guaranteed to encourage banks to lend among themselves. The sum of N620 billion was injected into eight banks as a direct rescue package, while corporate governance was enhanced with the appointment of new management teams. Over all, we can now say that the system has been restored to the path of stability. 15.
The second aspect of the reforms is couched in terms of medium to long term objectives. Under this, financial sector stability is emphasized alongside the need to position the banks to provide funding for the development of the real sector of the economy.