In any business environment trust should never be taken for granted. Lack of trust in people, organizations, and government is one of the many reasons innovations and growth is stifled. To be sure, the global financial crisis was a much needed tragedy to reveal the true nature of organizations and management performance. This paper aims to examine the impact of the financial crisis on the banking sector of Nigeria at a macro level by prescribing a new regulatory framework, promoting regulatory neutrality, eliminating information asymmetry, reinforcing good corporate governance practice in the financial system and finally providing a guideline in regaining the public’s trust at a micro level.
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