Abstract: The Nigeria financial services industry was born in 1892 with the establishment of the Africa Banking Corporation, which after a series of metamorphoses, combinations and transformations, survives today as First Bank of Nigeria plc. For exactly sixty years thereafter, the available topography of financial services was characterized by an attitude of free for all and all- for- free. The study surveys the incidence of structuring from nativity till date in the finance industry. The approach followed is historical content analysis. The findings indicate the prevalence of an atmosphere totally devoid of regulations from birth until 1952, during which time ninety five percent of indigenous banks established also liquidated; followed by a period of regulations lasting up to 1985, with the minimum of financially distressed situations: the playing ground of deregulations up to 1994, which occasioned another peak in financial sector growth, quickly followed by the worst crashes and maximum of casualties. The study concludes that the present reforms, dating from 6th July, 2004, are the most proactive and anticipatory so far.