total and joint integration of social, environmental and economic

total and joint integration of social, environmentaland economic platform.

In the words of Tavis (2004), sustainability can be saidto integrate issues of the environment with issues of development and society,however, whereas the concept has become a “principle” bench mark for ensuringgrowth and sustainable development, its application has promoted wide debateand often resulting in confusion especially in the developing countries such asNigeria. Luke and Olugbenga (2013) have noted that it is often viewed and interpreteddiftotal and joint integration of social, environmentaland economic platform. In the words of Tavis (2004), sustainability can be saidto integrate issues of the environment with issues of development and society,however, whereas the concept has become a “principle” bench mark for ensuringgrowth and sustainable development, its application has promoted wide debateand often resulting in confusion especially in the developing countries such asNigeria. Luke and Olugbenga (2013) have noted that it is often viewed and interpreteddifferently with respect to the different sectors (such as in the development,agriculture, fisheries, industry etc.) and in various dimensions (such asinclude with respect to environment, social, economic) and viewed differentlywith respect to location (such as in the local, national and international).Omiunu (2012) noted that development plans from other countries may not workand may be observed as a square peg in a round hole and thus needs to beadapted and modeled in such a way that would fix into the new environment ofcontext such as when deploying development strategies from the westernizedworld into the Nigerian system. As a major strategy, sustainablebanking in Nigeriaoffers a wide range of opportunities to manage bank risks, exploreopportunities in Nigeria and even the global system, and makes banks to adaptto changing business contexts and expectations for long-term success among thebanking sector in Nigeria.

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Appending strategy to sustainability, and theexploration of sustainability as a strategy, moves it away from being a fluffybusiness issue to a strategic objective. However, a major failure of thisstrategy is the neglect of the view that corporate commitment to sustainabilityis more than a strategy. It is first and foremost an organizational orientationcommitted to reducing its negative impacts and increasing its positive impactson its different stakeholder groups (customers, shareholders, employees, regulators,the government, unions, local communities) (Amaeshi and Ogbechie, 2013).  Furthermore, Amaeshi and Ogbechie (2013)noted that unfortunately, the Nigerian business environment, like mostdeveloping country markets, is particularly characterized by poor governanceand weak consumer voice, which will in turn have implications for the successor failure of the longevity of the Nigerian Sustainable Banking Principles. There havebeen many other reforms posed as strategies to enhance banks sustainability inNigeria.  According Ojonget al.

(2014) noted that in Nigeria, banking sector reforms ideally is anintegral part of the overall economic reforms programme undertaken toreposition the banking industry to be able to fulfill its responsibility ofcritical intermediation and in development, and thus help reposition theNigerian economy to achieve national objectives which is to become one of the20 largest economies by the year 2020. The reforms also aim at strengtheningthe growth potentials of the Nigerian banks as well as develop its absorptivecapacity in case of any eventuality, as in the recent global financial crisis.The four pillars and objectives of the banking sector reforms in Nigeriainclude: to improve the quality of Nigerian banks; to increase financialstability, and thus economic stability; to bring about strong financial sectorevolution which will result in the much-desired financial sector inclusiveness;and to make certain that the financial sector contributes to the real sector ofthe Nigerian economy (Ojong et al.

, 2014). The need for these varioussustainability strategies have been presented in literature. Sanusi (2012)noted that, there is a need for periodic reforms and strategies in order tofoster financial stability. Ajayi (2005) has noted that it also fostersconfidence in the banking sectors and could be deployed and used to predict thevarious need for re-orientation and re-positioning of existing stages in thebanking sector so as to achieve effective and efficient stage thus enhancingsustainability. A major type of these strategies isthe banking consolidation.

According toOkonjo-Iweala and Osafo- Kwaako (2007), the 2004-2005 banking consolidation andreforms in Nigeria was instituted and introduced to strengthen the financialsector and improve availability of domestic credit to the private sector.According to Odufu (2005), major deficiencies which attracted the need for thevarious sustainability strategies in the Nigeria banking system which cutacross the reforms and bank consolidation in Nigeria are: low capital base of banks in Nigeria, a largenumber of small banks with relatively few branches,  the dominance of a few banks,  poor rating of a number of banks, weakcorporate governance, insolvency, over-dependence on public sector funds and foreign exchange trading at aneglect of small and medium term private sector savers, among others. Ebong (2006) has noted that the state of the Nigerianbanking system before the introduction of these strategies of reforms andconsolidations was characterized by small-sized, marginal players with veryhigh over-head costs which negatively influenced the costs of intermediationand thus the profitability, growth and sustainability of the Nigerian banks.Followingthe review of literature, it could be evidenced that the major strategies forenhancing profitability, growth and sustainability of banks in Nigeria havebeen executed by the governments and other policy makers and stakeholdershowever, there are no much studies that address the various strategies thathave been put in place by the various banks and also among owners and managersof banks in Nigeria towards ensuring and enhanced profitability, growth andsustainability in the banking system. This is justified by the assertion of CentralBank of Nigeria Bank (2012) that banks should actively seek ways to deepentheir understanding of sustainability issues and practices and thus profferstrategies to enhance their profitability, growth and sustainabilityinternally.

Bank should developand promote investment strategies in the various community, projects andinitiatives with the aim of increasing their profitability, growth andsustainability (Central Bank of Nigeria Bank, 2012).  This study tends to investigate and provide a holisticview of strategies deployed from the top officials of banks in Nigeria towardsensuring and enhanced profitability, growth and sustainability in the bankingsystemferently with respect to the different sectors (such as in the development,agriculture, fisheries, industry etc.) and in various dimensions (such asinclude with respect to environment, social, economic) and viewed differentlywith respect to location (such as in the local, national and international).Omiunu (2012) noted that development plans from other countries may not workand may be observed as a square peg in a round hole and thus needs to beadapted and modeled in such a way that would fix into the new environment ofcontext such as when deploying development strategies from the westernizedworld into the Nigerian system. As a major strategy, sustainablebanking in Nigeriaoffers a wide range of opportunities to manage bank risks, exploreopportunities in Nigeria and even the global system, and makes banks to adaptto changing business contexts and expectations for long-term success among thebanking sector in Nigeria. Appending strategy to sustainability, and theexploration of sustainability as a strategy, moves it away from being a fluffybusiness issue to a strategic objective. However, a major failure of thisstrategy is the neglect of the view that corporate commitment to sustainabilityis more than a strategy. It is first and foremost an organizational orientationcommitted to reducing its negative impacts and increasing its positive impactson its different stakeholder groups (customers, shareholders, employees, regulators,the government, unions, local communities) (Amaeshi and Ogbechie, 2013).

  Furthermore, Amaeshi and Ogbechie (2013)noted that unfortunately, the Nigerian business environment, like mostdeveloping country markets, is particularly characterized by poor governanceand weak consumer voice, which will in turn have implications for the successor failure of the longevity of the Nigerian Sustainable Banking Principles. There havebeen many other reforms posed as strategies to enhance banks sustainability inNigeria.  According Ojonget al. (2014) noted that in Nigeria, banking sector reforms ideally is anintegral part of the overall economic reforms programme undertaken toreposition the banking industry to be able to fulfill its responsibility ofcritical intermediation and in development, and thus help reposition theNigerian economy to achieve national objectives which is to become one of the20 largest economies by the year 2020.

The reforms also aim at strengtheningthe growth potentials of the Nigerian banks as well as develop its absorptivecapacity in case of any eventuality, as in the recent global financial crisis.The four pillars and objectives of the banking sector reforms in Nigeriainclude: to improve the quality of Nigerian banks; to increase financialstability, and thus economic stability; to bring about strong financial sectorevolution which will result in the much-desired financial sector inclusiveness;and to make certain that the financial sector contributes to the real sector ofthe Nigerian economy (Ojong et al., 2014). The need for these varioussustainability strategies have been presented in literature. Sanusi (2012)noted that, there is a need for periodic reforms and strategies in order tofoster financial stability. Ajayi (2005) has noted that it also fostersconfidence in the banking sectors and could be deployed and used to predict thevarious need for re-orientation and re-positioning of existing stages in thebanking sector so as to achieve effective and efficient stage thus enhancingsustainability. A major type of these strategies isthe banking consolidation.

According toOkonjo-Iweala and Osafo- Kwaako (2007), the 2004-2005 banking consolidation andreforms in Nigeria was instituted and introduced to strengthen the financialsector and improve availability of domestic credit to the private sector.According to Odufu (2005), major deficiencies which attracted the need for thevarious sustainability strategies in the Nigeria banking system which cutacross the reforms and bank consolidation in Nigeria are: low capital base of banks in Nigeria, a largenumber of small banks with relatively few branches,  the dominance of a few banks,  poor rating of a number of banks, weakcorporate governance, insolvency, over-dependence on public sector funds and foreign exchange trading at aneglect of small and medium term private sector savers, among others. Ebong (2006) has noted that the state of the Nigerianbanking system before the introduction of these strategies of reforms andconsolidations was characterized by small-sized, marginal players with veryhigh over-head costs which negatively influenced the costs of intermediationand thus the profitability, growth and sustainability of the Nigerian banks.Followingthe review of literature, it could be evidenced that the major strategies forenhancing profitability, growth and sustainability of banks in Nigeria havebeen executed by the governments and other policy makers and stakeholdershowever, there are no much studies that address the various strategies thathave been put in place by the various banks and also among owners and managersof banks in Nigeria towards ensuring and enhanced profitability, growth andsustainability in the banking system. This is justified by the assertion of CentralBank of Nigeria Bank (2012) that banks should actively seek ways to deepentheir understanding of sustainability issues and practices and thus profferstrategies to enhance their profitability, growth and sustainabilityinternally. Bank should developand promote investment strategies in the various community, projects andinitiatives with the aim of increasing their profitability, growth andsustainability (Central Bank of Nigeria Bank, 2012).  This study tends to investigate and provide a holisticview of strategies deployed from the top officials of banks in Nigeria towardsensuring and enhanced profitability, growth and sustainability in the bankingsystem