THE EFFECT OF BANK INTEREST RATE DEREGULATION ON THE ECONOMIC GROWTH IN NIGERIA CHAPTER ONE 1.0       BACKGROUND OF THE STUDY The term interest can simply be define as the cost of using someone else money or viewed from the under point of view, as the price charged for allowing one to use someone else money. The role of interest is the reward for parting with liquid for a specific period of time. The Nigerian Banking sector is among the most heavily regulated sector of the Nigerian economy. The special interest of government in the banking sector is due to its relevance in the provision of credit facilities of industries and most importantly the provision of soft loan for small scale businesses for development of economy in the country. As financial intermediary, banks help in channeling founds from surplus economics regions to the deficit one’s on order to facilitate business transaction and economic development in general. The real sectors ...