b8be8b99-722f-4982-8d3a-45660007ff7e20210319055956181wseamdt@crossref.orgMDT DepositWSEAS TRANSACTIONS ON SYSTEMS AND CONTROL1991-876310.37394/23203http://wseas.org/wseas/cms.action?id=4073220202022020201510.37394/23203.2020.15http://wseas.org/wseas/cms.action?id=23195Financial Systems Theory and Control of Finances: Policy Initiatives for Access to Finance in NigeriaChisomNdigweCovenant University, Ota, NIGERIAAlexanderEhimare OmankhanlenCovenant University, Ota, NIGERIAIsiborAreghanCovenant University, Ota, NIGERIAT. C.OkaforCovenant University, Ota, NIGERIABenjaminIghodalo EhikioyaCovenant University, Ota, NIGERIAAchugamonuBede UzomaCovenant University, Ota, NIGERIAThe financial sector has witnessed several policy initiatives that have shaped the Nigerian financial system into what it is today. However, little study has been done on long-term effect of previous policies initiatives on the current loan access by firms, and this is the main objective of the study. The ARDL technique and error-correction model was used to check the long run effect of policy initiatives on loan in Nigeria utilizing data derived from the CBN statistical bulletin and world development index (1986-2019). Findings revealed that lending portfolio of deposit money banks has a negative and statistically significant relationship with domestic credit given to the private sector. In addition, the study recommended, amongst others, that regulatory authorities initiate policies that will create a platform for long term sustainable relationship with bankers and customers.1022202010222020563567https://www.wseas.org/multimedia/journals/control/2020/b105107-745.pdf10.37394/23203.2020.15.55https://www.wseas.org/multimedia/journals/control/2020/b105107-745.pdfAburime, S., Modelling the effects of banking sector reforms on bank management practices in Nigeria. Journal of Emerging Issues in Economics, Finance and Banking, Vol.2, No. 6, 2010, pp. 12-26. Achugamonu, B.U., Adegbite, E.O., Omankhanlen, A. E., Okoye, L.U., and Isibor A. Dynamics of digital finance and financial inclusion nexus in sub-Saharan Africa. Proceedings of the 33rd International Business Information Management Association Conference, IBIMA 2019: Education Excellence and Innovation Management through Vision 2020Afolabi, J., Mergers and acquisitions in the Nigerian banking system : Issues and challenges. Nigeria deposit insurance corporation, Vol. 7, No. 10, 2011, pp. 1–21. Agbaeze, E. K., & Onwuka, I. O., Basel III and abolition of universal banking model–implication for Nigerian banks.Journal of Economics and Finance, Vol.2, No. 5, 2018, pp. 1–15. Akin, I., Ikpefan, O.A., & Isibor, A.A., Credit to the private sector and economic growth in the present technological world: Empirical evidence from Nigeria. International Journal of Civil Engineering and Technology, Vol.10, No.2, 2019, pp. 2329-2347Asogwa, R. C., Liberalization, Consolidation and Market Structure in Nigerian Banking, A Paper presented at the African Economic Research Consortium (AERC), Nairobi, 2003Basel committee on Bank supervision, (2010). Basel III –international framework for liquidity risk measurement, standards and monitoring. Bank for International Settlement.www.bis.org/publ/bcbs180.htm Central Bank Brief. (2014). Impact of the implementation of basel IIi n the Nigerian banking sector,The Research Department Central Bank of Nigeria.15(2):1-10 Ezike, J. E. (2013). Capital adequacy standards , basle accord and bank performance : The Nigerian experience (A case study of selected banks in Nigeria). Asian Economic and Financial Review, 3(2): 146–159.10.1596/26546International Monetary Fund and World bank(2013). Financial Sector Assessment Program: Nigeria -Basel Core Principles for Effective Banking Supervision. World Bank, Washington, DC.https://openknowledge.worldbank.org/handle/10986/15968 License. Isibor, A.A., Felicia, O., Maria, A., Godswill, O., and Chisom, N. (2018). Exchange rate management and sectoral output performance. International Journal of Supply Chain Management, 7(5), pp. 129-134 Isibor, A., Ojo, J. A. T., and Ikpefan, O. A. (2018). Does financial deregulation spur economic development in Nigeria? Peer-Reviewed Proceedings of the International Business Information Management Association Conference (31st IBIMA) held on 25 – 26 April 2018, Milan, Italy.Isibor, A., Ojo, J. A. T., and Ikpefan, O. A. (2018). A study of financial deepening and capital accumulation in Nigeria. Peer-Reviewed Proceedings of the International Business Information Management Association Conference (31st IBIMA) held on 25 – 26 April 2018, Milan, Italy. Isibor, A., Olokoyo, F. O., Arogundade, M., Osuma, G., and Ndigwe, C. (2018). Exchange rate management and sectoral output performance. Peer-Reviewed Proceedings of the International Business Information Management Association Conference (31st IBIMA) held on 25 –26 April 2018, Milan, Italy. Omankhanlen, A.E., Ilori, N., Isibor, A.(2018). Monetary policies and the achievement of bank profit objective. Peer-Reviewed Proceedings of the International Business Information Management Association Conference (31st IBIMA) held on 25 –26 April 2018, Milan, Italy.10.5901/mjss.2015.v6n6p247Omankhanlen, A., Okorie, U., Taiwo,J.N. (2015). A Dynamic Analysis of the Relationship between Monetary Policies and Loan Risk Exposures in Nigerian Deposit Money Banks. Mediterranean Journal of Social Sciences, 6(6):247-258. Soludo, C. (2004) Consolidating the Nigerian Banking Industry to Meet the Development Challenges of the 21st Century. An Address delivered to the Special Meeting of Bankers Committee, Abuja.10.11648/j.jwer.20150403.11Uduak, M., & Ubong, E. (2015).Banking sector reforms and the performance of commercial banks in Nigeria. 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