ACCOUNTING PROCEDURE IN POST PRIMARY INSTITUTIONS

(A CASE STUDY OF UDENU LOCAL GOVERNMENT AREA)

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COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

Note: our case study can be change to suit your desire location . we are here for your success.

                                   ORDER NOW

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

Click here to download our android mobile app to your phone  for more materials and others

 

ABSTRACT

Revenue could be defined as income to any organization, institution from or government but in the present circumstances.  Accounting procedure in post Primary Institutions means the process or system by which the various government approved fees there are collected and accounted for, by accredited revenue collectors.

Revenue is there to the government as blood is to human being;

This study highlights some of the problems as :

a.        organizational problems

b.        personnel problems and

recommendation that those equipment’s and encouragement should be adequately provided incentives given to Bursars for dedication towards increasing their pace of revenue collection accounting for them to maximize government accounting policies.

        Again, principals should collect only approved fees.  Besides, Principals and Bursar, need to attend courses regularly for modern trends in accounting which is guard towards public accountability.

TABLE OF CONTENT

CHAPTER ONE

1.0.    INTRODUCTION

1.1.  Statement of problem

1.2     Objective of the study

1.3     Significance of the study

1.4     Statement of hypothesis

1.5     Scope of the study

1.6     Limitations of the study

1.7     Definition of terms

CHAPTER TWO

2.0   LITERATURE REVIEW

2.1     Development of Accounting in Post Primary Institution

2.2     Source of fund in Post Primary institution

2.3     Techniques involved in collecting the funds or depositing

2.4     Management compliance to the collection of the funds

2.5     Accounting for revenue in tutorial system

2.6     Proper and efficient documentation of all monies collected

CHAPTER THREE

1.0     RESEARCH DESIGN AND METHODOLOGY

1.1     Source of data

1.2     Primary data

1.3     Secondary data

1.4     Sampling procedures

1.5     Method of investigation

CHAPTER FOUR

4.0     Presentation and Analysis

4.1   Data presentation and Analysis

CHAPTER FIVE

5.0     SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION

5.1   Findings

5.2     Conclusion

5.3     Recommendation

BIBLIOGRAPHY

REFERENCES

CHAPTER ONE

 

1.0  INTRODUCTION

 

1.1  STATEMENT OF THE PROBLEMS

The study is designed to evaluate of assess the accounting procedure in post primary institution, notability in Udenu local government area, is the procedure in use efficient, secondly does the system suit the current trend of events.

There were glaring evidence of poor accounting post primary institution some of such flaws as could be observed in the old order was non-uniformly in the accounting system of schools given rise to poor its own receipts booklet.

That did not stop there, such printing of receipt booklets was not even controlled within the school level notably there was poor internal central measures.  In the present day, school accounting the other has changed.  There is new uniform accounting system in Udenu local government area in particular and the entire system in general.  The internal audit unit has also designed a uniformed revenue by weekly and monthly return format.  In other words, internal control measure have reasonably improved.  There is a central supply of revenue cash receipts booklets from ministry of finance to headquarters office on the directors, finance and supplies from which schools collect numbers of receipts booklets, make returns of used and unused ones before collection of new stocks of the cash revenue receipts.

There is also implace the central pay rolling system, and most recently, they have introduced computer system aimed at computerizing the entire systems of the Boards accounting administration and management.

However, there are still problems in schools accounting systems.

There are reported cases of found, forgery of purchase invoices and other records like bank tellers manipulation of Tuition/Equipment and other fees payment made. However, there are observable limitations on the effectiveness of the internal control measures.

Thirdly, there are problems of poor non-rendition of revenue.  A circular (Ref. ENS/SEC/FSD/904/VI/430 of 14^th April 1992) from finance and supplies unit of the state duration commission, headquarters to all principals, all zonal Bursars, all zonal internal Auditors, head of pay roll section on the effect of low revenue returns stated their, “the post primary schools management board Enugu is seriously disturbed by the low revenue returns from the post primary school in the state.

Spot-checks in schools by the internal audit discloses that low revenue returns are caused by the following:

1. The failure of principals to send debtors students home after the authorized two weeks period of grace after each resumption date.
2. The failure of the principals to enforce the lodgment of all revenue collected on behalf of the government into appropriate government designated Bank Accounts.
3. The collection of monthly salaries by principals and bursars without obtaining usual clearance from the zonal internal auditors as having met the stipulated monthly revenue targets.

ConsequCOMPLETE MATERIAL COST 5000.

RELEVANCE OF ACCOUNTING SYSTEM ON THE PERFORMANCE OF MANUFACTURING COMPANY

 

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COMPLETE PROJECT  MATERIAL COST 5000 NAIRA

   ORDER NOW

 GTBANK
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER:0115939447

First Bank:
Account Name: Chi E-Concept Int’l
Account Name:3059320631

We also accept :   ATM transfer , online money  transfer 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>

Call Help Desk Line :  08074466939,08063386834.

After Payment Send Your Payment Details To

08074466939 Or 08063386834,   The Project Title  You  Selected On Our Website , Amount Paid, Depositor Name, Your Email Address, Payment Date. You Will Receive Your Material In Less Than 1 Hour Once We Confirm Your Payment.

WE HAVE SECURITY IN OUR BUSINESS.

MONEY BACK GUARANTEE

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Abstract

The relevance of effective accounting system on the performance of a manufacturing company was intended to investigate the effect of mediocre and lack of comprehensive accounting system, financial accounting system and management accounting system.

The research work also received work done by others in respect to his subject matter by using text books, questionnaires, professional journals and conference papers by prudent scholars.

The statistical research study also revealed that the application of the relevant accounting system in a manufacturing company couldn’t be over emphasized or compromised.

The cost accounting system of manufacturing firms clearly showed the cost of raw material consumed, the prime cost of production and their profit.

It was the recommendation of the researcher that the three accounting system can be used in any manufacturing company, but may not be used in a service oriented industries, except where they are considered essential and indispensable, otherwise, the system are very expensive to maintain.

 

 

CHAPTER ONE

1.0 Introduction                                                                                     1

• Background of the study 1
• Statement of the study 2
• Objective of the study 3
• Significance of the study 3
• Scope and limitation of the study 4

CHAPTER TWO

2.0 Review of related literature                                                              6

2.1 Concept of accounting                                                                     6

2.2 Evolution of the accounting system                                                 8

2.3 Accounting as a system                                                                   9

2.4 Sound accounting system              `                                                 12

2.5 Purpose of accounting system                                                         17

2.6 Accounting information system                                                       23

2.7 Relevance of an Adequate/sound accounting system                       25

CHAPTER THREE

3.0 Finding, Conclusion, Summary, Recommendation                          26

3.1 Finding                                                                                            26

3.2 Conclusion                                                                                      27

3.3 Summary                                                                                         28

3.4 Recommendation                                                                             29

Bibliography                                                                                32

 

 

 

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

In any organization, manufacturing or non-manufacturing that knows its functions requires an effective accounting system for it continues in existence. In the past, use have heard of how firms up due to one reason or the other. When properly investigated as to what constitute their folding up, one may not be surprised that it was due to negligence in operating on effective accounting system.

 

Even the greatest book on earth “The Holy Bible” makes it own judgment on this, in Mathew 25:14-30. Which in this illustration, we heard of a master who, while away, entrusted various sum of money to his three servants, on return, he called them to “account” for the property entrusted to them, out of the three servants, one could not give a god account of the property entrusted to him, hence he was unsuccessful (and fold up).

 

Each of the manufacturing company needs an effective accounting system to determine its profitability position by at least break even. The shareholder is “interested in seeing his invested fund yielding profits, thereby increasing their shareholdings. The creditor wants to be sure that his fund is adequately guaranteed; However, penitent to highlight out this juncture that accounting system is a means of obtaining all relevant information, which is needed by management in decision making.

 

1.2     STATEMENT OF THE PROBLEM

When considering the problem that relates to an unsound accounting system, what easily comes to mind is the possibility of frauds, either by senior managers or other staff, to occur. Such fraudulent practices may include with holding of cash receipts, misuse of funds, falsification of documents of higher levels, purchasing Keck balks, padding of payrolls, diversion of securities, removal of materials or products of staff etc. Another problem is allowing the accounting function in the authority of incompetent personnel who has shallowed or no knowledge of accounting.

However, where there is negligence in keeping an effective accounting system, the management will definitely find it practically

 

 

 

Continue reading RELEVANCE OF ACCOUNTING SYSTEM ON THE PERFORMANCE OF MANUFACTURING COMPANY →

ADEQUACY OR INADEQUACY OF WORKING CAPITAL:    ITS IMPORTANCE AND IMPLICATION

 

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COMPLETE PROJECT  MATERIAL COST 5000 NAIRA

   ORDER NOW

 GTBANK
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER:0115939447

First Bank:
Account Name: Chi E-Concept Int’l
Account Name:3059320631

We also accept :   ATM transfer , online money  transfer 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>

Call Help Desk Line :  08074466939,08063386834.

After Payment Send Your Payment Details To

08074466939 Or 08063386834,   The Project Title  You  Selected On Our Website , Amount Paid, Depositor Name, Your Email Address, Payment Date. You Will Receive Your Material In Less Than 1 Hour Once We Confirm Your Payment.

WE HAVE SECURITY IN OUR BUSINESS.

MONEY BACK GUARANTEE

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Bulk sms company in Nigeria

 

 

ABSTRACT

The objective of this study is to evaluate and examine the adequacy or inadequacy of working capital: its importance and implication

The study observed that

A lot of financial institutions have failed and more may still fall due to inadequacy of working capital

Because many financial institutions has quested or fallen some firms has will draw  the confidence they have in putting more effort to progress while the liquidated ones find it different to off set its indebtedness.

In conclusion, the following recommendation more made

Firms that has excess working capital should invest their excess capital in short term investment so that they will not be forced with the adverse effect of excess working capital

Corrective measures should be adopted to the consequences of inadequate or excess working capital in the economy.

 

 

TABLE OF CONTENT

 

CHAPTER ONE

Introduction

Background of study

Statement of problems

Objective of study

Significance of the study

Scope and limitation

Definition of terms

CHAPTER TWO

Literature review

Need for working capital

A balance approach

Component items of working capital

Classification of working capital

Importance of adequate working capital

Excess working capital and its effect

Adequacy of working capital

Implications of inadequacy working capital

CHAPTER THREE

Summary of funding, recommendation and conclusion

Discussion of finding

Conclusion

Recommendation

Bibliography

 

 

CHAPTER ONE

 

INTRODUCTION

The primary aim of establishing or going into business is to optimize profit and as well as ensure continuity of that business concern. When one person (sole trader) or group of person (partnership or companies limited by shares or guarantee) intends forming a business entity or will need a smooth take off, these fixed and current assets in facing and current assts will be funded from both long term liabilities and current liabilities (or capital) as the case may be.

 

On formation, the business as an entity will be provided with fixed assets, such as building and premises, plant and machinery, equipments, motor van etc. but from all medication we know and we see that these fixed assets itemized and we see that achieve the a fore said aims of establishing the business. This is so be cause the fixed assets were not bought for then purpose of resale as a result any project cannot be directly accruable from its continuous stay.

 

From the foraging, it is easily describable from it that the business as a going concern need some indispensable terms or factors that will determine its profitability and its ability to with stand the rest of time in a prevalent competitive environment.

These indispensable items are operational and resoling in contrast with fixed capital and this is what we termed as the “WORKING CAPITAL”

 

BACKGROUND OF STUDY

The need for working capital would not have been necessary or relevant if not it’s inherent problems.

In the light or this I wish to state a maiden approach in discussing this course or profession could easily flow and appreciate this simplicity of this presentation.

The need for cash detention or holing cannot be overemphasized because it goes a long way in tacking problems resulting from inflation and its like.

Therefore, attempts would be made discuss the problems, prospectus of this topic for the benefits of those who care to read or go through the content of this piece of work.

STATEMENT OF PROBLEM .

For many years they are some historical cause of adequacy or inadequacy of working capitals.

What other likely causes are and knowing the causes and also finding remedies to them, knowing all these problem does the government, financial institutions and private individual any role to play in the cause and remedies.

As a result of this problem firms easily find themselves go or walk the of liquidation because they failed to make

Provisions for the rainy day.

This piece

 

 

 

Continue reading ADEQUACY OR INADEQUACY OF WORKING CAPITAL: ITS IMPORTANCE AND IMPLICATION →

LOAN SYSNDICATION IN BANKS

(A CASE STUDY OF INTERNATIONAL MERCHANT BANK PORT – HARCOURT)

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COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

Note: our case study can be change to suit your desire location . we are here for your success.

                                   ORDER NOW

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

Click here to download our android mobile app to your phone  for more materials and others

 

ABSTRACT

 

The study was undertaken to find out how IMB manages its loan syndication, a proper loan syndication management would have a significant impact on the profitability of the bank, with this view in mind a detailed analysis of IMB loan syndication management was carried out.

IMB was selected as a result of preliminary survey which indicates that it is the only bank that was willing to assist in the study, and from adequate information gathered through the use of structured questionnaires and personal interview administered to the loan syndication offers of the bank.

It found out that IMB has a specialized department that was specifically established to take care of its syndication functions. It was also found that IMB is risk conscious and so estimate the risk of a loss in any syndicated investment. It was also discovered that IMB insist on the provision of collateral as a securits before any proposal is made.

Based on these findings and others it was recommended that IMB should enlarge its syndication activity and seek for new avenues in order to increase its profitability base and generate growth in the economy. Also it should take greater risk in lending, since this will help to increase total investment in the economy because more loan syndication may be granted even if prospective client are unable to provide collateral securities. And IMB should help client prepare realistic feasibility studies. It is also recommended that the time lag between when loan syndication is granted to client should be reduced.

 

 

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENTS

CHAPTER ONE

• Introduction
• Statement of problem
• Purpose / objective of study
• Research question
• Significant of the research
• Scope of the research

 

CHAPTER TWO

2.1 Introduction

2.2 What is loan syndication

2.3 Loan syndication in IMB

2.4 Evolution and development of merchant bank

2.5 Syndication theory and management

2.6 Risk as the foundation and concept of loan syndication

2.7 Diversification theory

2.8 Capital Assets pricing model (CPM)

2.9 Asset portfolio in merchant bank

2.10 Risk in merchant bank

2.11 Principles and practice

2.12 Management of lending

2.13 Lending policies

2.14 Factors in loan syndication formulation

2.15 The principle of good loan syndication policy

2.16 Loan syndication Administration.

2.17 Credit Analysis

2.18 Credit Investigation

2.19 Project analysis or evaluation

2.20 Maturity pattern of merchant banks loan syndication and advances in          Nigeria.

 

CHAPTER THREE

3.1 Introduction

3.2 Research Design

3.3 Sample size and population

3.4 Data collection

3.5 Data analysis

 

CHAPTER FOUR

4.1 Establishment of loan syndication department

4.2 Main function of loan syndication department

4.3 Estimation of risk of loss

4.4 Appraisal of loan syndication proposal

4.5 Securities Favoured by bank

4.6 Documentation of loan syndication terms

4.7 Role of central bank in loan syndication administration

 

CHAPTER FIVE

5.0 Summary and findings and recommendation

• Summary of findings
• Recommendation

CHAPTER ONE

 

1.1               GENERAL INTRODUCTION

          Loan syndication is an inter-bank relationship and facilities in carrying on a common interest in financing a project. Where client borrowing requirement are extremely large and the risk also very light that it exceed the capacity of one banks, as it is often the case with major industrial, commercial, or agricultural undertakings. One bank arranges in close association with the customer syndicate facilities by grouping a consortium of banks to meet such financing request. The organizing bank is called the lead or managing bank, the loan is called consortium loan while the participating banks are referred to as loan syndication and the process of providing the loan is known as loan syndication.

Corporate loan syndication group (CLSG) purchases and sells interest in loan, in the corporate and commercial real estate sector corporate sector loan syndication includes;

• Leverage financing
• Middle market manufacturing
• Commercial financing companied
• Cable and communication companies. Syndication in the real estate sector includes;
• Pooled property funds
• Construction and development

A common feature of the International Merchant Bank management of loan syndication is a classical management of its asset. Loan syndication management is the act of handling a pool of inter bank relationship and their fund so that if not only preserved its original worth but also over time appreciate in value and yields and adequate return, consistent with the level of risk involved.

It is therefore our aim in this researcher to investigate syndication management strategy in international merchant bank and to see whether it is any way influenced by the nature of loans and advances of the bank whether its influenced of a positive or negative nature. According to Ansoff (1965).

Traditionally, the measure of success in a business firm has been profit, it is this measure that distinguished a business organization or from all other forms of social organization.

The factors that are likely to influence a bank’s desire to invest in a particular investment outlet include the nature of the project, the profitability, the cash flow situation and the maturity pattern of the banks. The importance of these various factors in the determination syndication varies from one bank to the other depending on the nature of the management and the overall business environment.

International merchant bank operates in the setting described with the cope of the direction of the bank Act. In this Act, banking business is defined as: the business of receiving money from outsider as deposit, irrespective of the payment of interest and the granting of loans. Advances and acceptances of credit or purchase and sale of securities and in incurring of obligation to acquire claims in respect of loans prior to their maturity or assumption of guarantee and other warrantees for others or the effecting transfers and clearing such other transaction as the minister may, on the recommendation of the central bank order published in the federal government gazette designated as banking business. It is easily seen that loan syndication management appropriately falls within the area of banking business as defined.

The function, objective, operation and setting of the merchant banks differs from those of commercial banks. In this Act of 1968, it is provided that merchant banks could engage in all forms of banking activities those undertaken by commercial bank except the operation of current account for small saves. The merchant banks are licensed to assist in the channeling of liquidity into the economy through granting of medium and long term investment, and also to perform specialized services in the area of equipment leasing, corporate financing project preparation debt factoring and rendering of advisory services among others. The provision on universal banking. For international merchant bank, it was considered that since they normally deal with large customers, which operate expectedly higher level of efficiency. They also need to mange their syndication more professionally to maximize the returns.

STATEMENT OF    PROBLEM

Contributing to the literature on the problem of loan syndication management, the study was designed to analyze how international merchant bank select securities in its loan syndication and how these loan are managed until their various dates

A STUDY OF IMPACT AND IMPLICATION OF RESTRUCTURING THE NIGERIA PENSION SCHEME

(A CASE STUDY OF ENUGU STATE)

Click here to download our android mobile app to your phone  for more materials and others

COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

Note: our case study can be change to suit your desire location . we are here for your success.

                                   ORDER NOW

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

Click here to download our android mobile app to your phone  for more materials and others

 

CHAPTER ONE

• Introduction

1.1     Background of the study

• Statement of the problems
• Research hypothesis
• Objective of the study
• Scope of the study
• Limitations of the study
• Organization of the study
• Definition of terms

Reference

 

CHAPTER TWO

• Literature Review

2.1     Historical Development of pension scheme

• Legal framework of pension in Nigeria
• Record management and administration of pensions in Nigeria
• Problems associated with the present record management
• Conduction/merging of service, basis for continuity of service
• The role of a Broker/Consultant in pension

Reference

 

CHAPTER THREE

• Research Design and Methodology

3.1     Methodology

• Source of data and survey instrument
• Population and Sampling procedure
• Sampling size allocation

 

CHAPTER FOUR

• Data presentation and analysis

4.1     Presentation of data

• Analysis of data
• Test of hypothesis
• Interpretation of results

 

CHAPTER FIVE

• Findings, Conclusion and Recommendation

5.1     Decision of findings

• Conclusion
• Recommendation

Bibliography

Appendix

ABSTRACT

 

The researcher aim of writing this project was achieved by her objectives i.e. the study of impact and implication of restructuring the Nigerian Pension Scheme, (A case study of Enugu State).  The researcher found out how pension are being paid in Nigeria and the people responsible for the payment.

Chapter one of this project talked about the information of pension scheme, the contribution plan and organization responsible for that.

Chapter two talked about the literature review that is the historical background and development of pension scheme.

While Chapter four discussed about the research methodologies, design of research, data presentation and analysis of it.

Finally, what I discussed in chapter five was the summary, findings and conclusion of the whole matter.

CHAPTER ONE

 

INTRODUCTION

• BACKGROUND OF THE STUDY:

A pension scheme is a planned program, which enable corporate organization to acquire and set aside fund to cater for the well being of their staff after retirement from active service.  The scheme enables pension to benefits to be paid to the beneficiaries.  It could be paid to retired employee, a widow or a disabled person.  There are legal and administrative procedures and processes made to facilitate the realization of this objective in both to public and private sectors of our economy.  Pension benefits are given for meritorious services to the organization.

The scheme is classified into two parts:

(a)      A non-funded plan where the fund is under the control of employer.  This is where payment to retired employees are made directly from operations by the organization as they become due without accumulation of funds.  This is obtainable in the public services system and

(b)     Contributory plan – where the employees bears parts of the cost (i.e. employees pay some  portion for example, 10% of their gross monthly income, while the employer pays 15% of the gross monthly income.  Organizations specific in their pension plan, the number of years an employee has to service before he/she qualifies for pensions.  In Nigeria, most organization currently allows a minimum of five and ten years for gratuity and pension respectively.

The organizations that run a pension fund scheme usually have a pension board, such as the local government staff pensions board.  There is also the Nigeria Social Insurance Trust Fund (NSITF), which now replaces the former national provident fund.  This caters mainly for the needs of the private sector.  When establishment pension plans through “retirement plans”, that qualify under the international Revenue Code, approval would be sought from the Joint Tax Board, so that the deductions would be tax-free.

Those expected to run the contributory pension schemes are:

1990. Every worker who is employed by a company incorporated or deemed to be incorporated under the Company and Allied Matters Decree (CAMA) 1990.
1991. Every workers employed by a partnership irrespective of the number of workers employed is not less than five including owners.

The two types of pension scheme used in Nigeria are:

(a)      The self-administered pension scheme, which is managed and administered by the trustee of the scheme.  It is their responsibility to pay retirees their pension regularly and invest the balance surplus fund.

(b)     The insured pension fund scheme is managed and administered by an underwriter on behalf of owners of the scheme i.e. the Board of Trustees.

The underwriters (actuaries) invest the contributory funds into some government bonds or gilt-edge securities, commercial stocks, and today, they are in real estate and transport services.  They by this contribute to the economic development of the country; collect the principle contributions, while the fund continue to generate more money through multiplier concept.

Government scheme, which is a non-funded scheme, is the core public service plan.  It is planned to totally dependent on funding from the treasury to the extent law permits this arrangement.  It is charged to the consolidated expenditure.  It will be worthy to note that pension is a liability already incurred and as such, the fund to meet this obligation should be secured and made available always.

The objective of pension scheme is to ensure a health, stable, economic and social atmosphere that will promote harmony and given a sense of belonging to the retirees.  This is achieved through:

(i)      Maintaining unbroken service, by retaining experienced staff, high rate of productivity and operational safety is achieved through good quality of labour force and efficiency.

(ii)     Confidence in serving officers that their status would still be maintained even after their service, by providing them a regular periodic payment to prevent them from slipping into destitution.

(iii)    To ensure loyalty and orderliness in the public trust would work conscientiously of the expected pension benefits.

(iv)    The pension fund is also used to make investments-cost saving to generate more money and employment in the economy.

As to the extent to which those objectives have been achieved or successful, this project addressed the results and identified the problems.

The history of pension in Nigeria was dated back to 1946 with the first pension legislation enacted in 1951, referred them to as pension law was primarily designed for the United Kingdom Officers who will move from post to post in vast British Empire.  Its objective was to maintain continuity of service wherever they are sent to serve.  When the law became applicable to the indigenous staff, it had limited application to the extent that it was granted at the pleasure of the governor-general.

Under ordinance, pension was not automatic right of Nigerians but discretionary.

To ensure consistency and equality of rights, the federal government promulgated the Pension Act No 102 of Federation of Nigeria 1979 (Now Cap. 346 laws of the Federation of Nigeria 1990) with a commencement data of 1^st April 1974.  The Decree No. 102 of 1979 consolidated all enactments on pension and incorporated pensions and gravity, and sought devices for public officers by adopting the Udorji public service Review Commission in 1974.

The administration of the public service pension scheme is a joint responsibilities between the federal and state governments, i.e. for those officers who served within the period March 31, 1976.  In other words, all those whose appo