This study is an assessment of the economic policies and reforms in Nigeria in the period 1999-2010 with particular reference to the Bank recapitalization. The aim of the bank reforms was to strengthen the banks to withstand risk arising from the systemic distress in the sector and make large capital available to the banks to loan out to especially small and medium scale enterprises. In the last decade, the banking institution in Nigeria has witnessed some reforms. This is against the backdrop of its inability to fulfill the individual and collective aspirations of Nigerians and the Nigerian state for economic transformation and sustainable development. This book examines the banking reforms in Nigeria that led to a drastic reduction of the banks in Nigeria as they came together through mergers and acquisitions (M&A). This was done in order to bring resources together to meet up with the re-capitalization requirement of 25billion Naira (approximately $200 million U.S dollars). The book will therefore be useful to students of history and economics and policy makers in Nigeria in particular and all over the world.