THE ROLE OF FINANCIAL INSTITUTIONS IN THE DEVELOPMENT OF THE NIGERIA ECONOMY

(A CASE STUDY OF SELECTED FINANCIAL INSTITUTION IN ENUGU STATE)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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ABSTRACT

This project research is used by the school authority as one of the condition for the award of a Ordinary National Diploma (OND) in the institution, it therefore becomes very important each student must successfully carry out his/her research work in his/her respective filed of study.

The author decided to go into the role of Financial Institutions in the development of the Nigeria Economy with the aim of carrying our a comprehensive report on the role of Financial Institution to the economy in general.

To this end, this project is to be arrange into three different chapters. Chapter one will cover the introductory analysis comprising the background of the study, significant of the study, and definition of some terms used in the project works.

Chapter two will look into the names of some financial and non-financial institutions, the roles of financial  Institutions like Banks and Insurance Companies, Advantages, Objectives and problems facing Financial Institution in Nigeria etc.

Finally in chapter three the last chapter, an elaborate summary of findings of the research analysis were given, recommendations offered and condition made.

CHAPTER ONE

• INTRODUCTION

1.1     BACKGROUND OF THE STUDY

The ideal of establishing indigenous Financial Institution came into effect the end of the first world war (1914). This gave rise to the establishment of the National Bank of Nigeria ltd in (1933), African Continental Bank ltd in (1947), but before the emergence of the indigenous banks, the Standards Bank (now First Bank of Nigeria Plc) had commenced banking Operation in (1894).

In (1998), the Central Bank ordnance was passed out and it commenced Operation in July, 1^st 1954. After the development banks, Commercial Banks, Merchant Banks, community Banks, Insurance Company etc. Indeed their emergence was largely informed by the need to contribute positively to the growth and development of Nigeria economy.

In Nigeria today, there are about one hundred and sixty-eight (168) Banks and over ninety-four (94) Insurance companies Operating various business of large scale dimensions.

As the economic environment stands at the moment, it is one that really poses a challenging task before all these Financial Institutions. Our financial resources need to be properly and judiciously utilized. Small scale industries as well as other industries in their stages of development need adequate funds to put them on solid footing. Farmers equally need sufficient credit facilities to enable them put more effort in agricultural investments. In the same vain, individuals as well as government need money to embark on valuable and profitable economic ventures. Against these for going background, it is evident that the Nigeria dreams of building a safe and sound that economic structure will come to nothing in the absence of reliable and well-concord financial Institutions. For better understanding of this research work, I have organized these work-ups into chapters.

Chapter 1-2 which includes this introduction, background of the study, definitions, roles, Advantages, Objective and problems facing Financial Institution in Nigeria etc.

Chapter 3 looks at the problems confronting the Financial Institutions. Recommendation and Conclusion.

1.2     PURPOSE OF  THE STUDY

            As already pointed our in the introductory it would be recalled here that the establishment of the Central Bank in (1958) gave rise to the emergency of several others