A CRITICAL ANALYSIS ON FRAUD IN NIGERIA FINANCIAL INSTITUTION

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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

 

This project is designed to critically analyze the incidence of fraud in the Nigeria financial institutions with references to the banking industries.

Fraud in both private and public sector of Nigeria economy is an age long phenomenon that has for a long time being threatening the growth and development of the Nigerian nation state. It has defiled very professional expertise know-how due to its continuous increase.

The effect of fraud on the Nigeria financial institutions mainly regarded as the life wines to nation economy is to say the least devastating. Fraud cuts across the length and breath of the Nigeria financial institutions and has resulted in reducing many well established firms to more existing level, while so many others have been completely liquidated. It is this ugly development in the “Power house” of the financial sector of our economy that attracted my interest hence my choice of this topic. A critical analysis on fraud in Nigeria  financial institutions with particular reference to the banking industry.

This work will dig keep into the following

1. Types of fraud
2. Causes of fraud
3. Extent of involvement of insiders in the per petration of

In this project/ term paper chapter explain the term fraud if a times to explain the fact that fraud is and to continue to trouble the financial sector of the economy unless great efforts are put together to fight it.

Chapter one above all things states the scope of the study or research. Chapter is the literature review, which embraces the following subheadings, concept of fraud, effects of fraud, theory of fraud, types  and the law research causes of fraud and finally the prevention of fraud.

Research design and methodology are treated in chapter three also included  in chapter three is the involvement of insiders in the pepertration of fraud in out financial institutions. Chapter three also contains anticipated solution to the menace of fraud.

Furthermore, the summary of the whole finding recommendation by the researcher and possible conclusion on the topic is contained in chapter three. As it will be bibliography is also contained there.

CHAPTER ONE

1.0     INTRODUCTION

The occurrence of  fraud in our financial institutions have negative effect on the economy. Fraud is like a parasite, it eats deep into its host thereby threatening its assistance. No financial institutions is free from its scourge; annually, millions of naira is not billion are lost to fraudster. In certain sector of the economy its effects is so great that investors are afraid to invest their money there. To critically analyse fraud, a vivid  explanation might be needed. Fraud according to oxford advance learners dictionary of current English written  by A.S Hourby  is a criminal deception  benefit. Fraud can also be viewed as the presentation of take document in order to obtain some selfish benefits.

Onovo (2001)s, in his book understanding practical Auditing the investigation the use of criminal deceptions to obtain unjust or illegal advantage.

Fraud in both private and public sector of Nigeria economy is an age long phenomenon that has for development of the Nigeria national state. It has defined the very professional expertise  know-how due to its continuous increase.

The effect of fraud on the Nigerian financial institutions mainly regarded as the life-wire of the nations economy is to say the least devastating fraud cuts access the lengths and breath of the Nigerian financial institutions and has resulted in reducing many well established firms to more existing level while so many others have been completely liquidated

Fraud is not chique to Nigerian alone. It is a phenomenon that has bedeviled the world economic since age due to its devastating effects, especially in the financial sectors; the developed and developing nations including Nigeria has been waging  consistent wars against fraud and fraudsters. The Nigeria Deposit insurance Co-operation (NDIC)  annual report and accounts for 2001 fiscal fear disclosed that since 1989 to date, clerks  cashiers have continued to maintain the lead among other categories of  staff in fraud and forgeries  are becoming a recurrent feature of out financial system as recorded cases by banks and other financial houses continue to occupy a conspicuous position in their annual report.

The way fraudulent  acts are increasing in our country is not anything to write home about. Most especially among those in  senior positions in the financial “World”. However, in any event, it is an accepted fact that dismantled employee commits more than half of all computer-Assisted fraud (CAF). Many co-operate organizations shown the practice of reporting fraud to the public to protect their images and goodwill and to win the confidence of investors. The implication of this is that Boards are then faced with arduous test of hold to control and when fraudste4rs are caught by some financial organizations for fear of publicity, they do not charge these fraudsters to court.

Sometimes those fraudsters are left off the book only to return to commit more crimes.

LEASING AS A MAJOR FINANCING DEVICE FOR SMALL SCALE INDUSTRIES IN ENUGU URBAN

(A CASE STUDY OF HAPEL NIG. LTD)

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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

 

CHAPTER ONE

• Introduction 1

1.1     Background of the study                                                   1

• Statement of the problem 4
• Objective of the study           4
• Scope of the study 5
• Research questions 6
• Significance of the study                                                 7

 

CHAPTER TWO

• Review of literature 8

2.1     Definition of small scale enterprise                                    8

2.2     Financing enemies for small scale enterprise            10

2.3     Concept and evolution of leasing                                       18

2.4     Types of leasing                                                                21

2.5     Central bank guidelines and leasing                                   26

2.6     Summary of related literature                                             28

CHAPTER THREE

• Methodology 30

3.1     Research design                                                                 30

• Area of study 30
• Population of the study 30
• Sample and sampling procedure 31
• Instrument for data collection 32
• Validation of the research instruments 32
• Reliability of the research instruments 33
• Method of data collection 33
• Method of data analysis 34

 

CHAPTER FOUR

• Data presentation and results 35

 

CHAPTER FIVE

• Discussion, implications, recommendations 44

5.1     Summary of findings                                                         44

• Discussion of results 45
• Conclusion 50
• Implications of the study 50
• Recommendations 51
• Suggestions for further studies 53
• Limitation of the study 53

References                                                                         55

Appendix                                                                           56

 

LISTS OF TABLES

Table 2.1:              Bank loans to small-scale enterprises as at

31^st December 2000

Table 2.2               Actual lease portfolio of merchant banks loans advance

and advances mattered against central bank prescribed ceiling.

Table 4.1               Responses from the respondents on the extent of small-scale industries obtaining adequate institutional credit.

Table 4.2              Responses from the respondents on if they are aware of

the lease financing technique whereby companies can procure required plant and machinery without making an outright payment for them.

Table 4.3:              Responses from the respondents on if their company

made any effort in order to finance their company through leasing.

Table 4.4:              Responses from the respondents on if the use of leasing

resulted to any advantage.

 

Table 4.5:             Response from the respondents on if their company will

be in the positive to advise other companies to resort to leasing as means of finance to their companies.

Table 4.6:              Responses from respondents on whether merchant banks

help small scale enterprise in getting lease facilities.

Table 4.7:              Responses from respondents on whether merchant banks

helps small scale enterprise in getting lease facilities in accordance to with the central bank prescribed ceiling on lease portfolio.

 

ABSTRACT

Small-scale enterprises like Hapel Nigeria limited generally suffer from lack of adequate finance. The introduction of the structural adjustment programme compounded the problem such that the enterprise could hardly finance the fixed capital requirements.

In this circumstance, small-scale enterprise like Hapel Nigeria Limited would seek for a financing device that would enable them to obtain the use of required equipment without making outright payment. Leasing seems to be the answer. This study therefore, attempts to establish a case for leasing as a major financing device for small-scale enterprise by assessing the effectiveness of the source of finance available to them.

In terms of review of related literature, financing means for small-scale enterprise like Hapel Nigeria Limited was discussed and the Nigerian bank for commerce and industry was seen as the greatest supplier of credit to small-scale enterprise. The concept and evolution of leasing was looked into and thus leasing was seen as a contract between a leasor and lessee giving lessee possession and use of a specific asset on payment of rentals over a period.

In terms of methodology, the descriptive and historical research method is used. Data generated from the questionnaire administered and interviews were analyzed.

Based on the analysis of data, some interesting findings were made. In the first place, it was found that many small-scale enterprises engage in manufacturing business and most of the small-scale enterprises about 99.9% of them were aware of leasing financing technique. Most of the small-scale enterprises acquire the use of their required equipments through lease transactions. It was also found that the levels of awareness among small-scale enterprise acquire the use of their required equipments through lease transitions.

It was also found that the level of awareness among small scale enterprise like Hapel Nigeria Limited make effort to use lease financing techniques in their business transactions and this leasing has brought a lot of increase in their level of productivity.

The conclusion based on the findings was that leasing should be increasingly used by small-scale enterprise to activate the problem of financing burden in small-scale enterprises.

The researcher made some recommendations viz:

The Central Bank should effect changes in its credit guidelines with respect to leasing. Secondly, adequate publicity should be mounted to maintain and increase the level of awareness of leasing among small-scale enterprises.

 CHAPTER ONE

 

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

It is unquestionably true that the development of a nations industrial sector hinder greatly on the development of small-scale enterprises operating in that economy. This is because small-scale enterprises are significantly yielding the fruits of developing particularly employment, indigenous technological development, utilization of local resources and lower cost provision of inputs and services for large enterprises.

Small scale industries are important not only because they account directly for significant proportion of investment, output and employment in a nation but also even more significantly because they provide vital links in the chain in the economy as a whole, motivating, energizing, and connecting various sectors and sub sectors for greater overall output of employment and productivity.

Small-scale industries have an even grater potential for stimulating and sustaining technological progress and self reliance through production based adaptation innovation and through programmed link ages with the advance industrial and market sectors.  The indispensability of small-scale enterprises in a country’s industrial growth.

Plan is a theme that runs through most writings and discussions on small-scale enterprises.

Yet, in Nigeria, small-scale enterprises suffer from a large potential. These constraints include inadequate finance, shortage of raw materials, marketing problems, inadequate infrastructural facilities, inappropriate technology and production, labour and inadequate management experiences etc.

This researcher, however believe that their greater problem is inadequate capital to establish on a proper basis and modernize or maintain their enterprises through periods of temporary adversity. Virtually, all the other problems emanate from inadequate finance. Almost 8 out of energy 10 small businesses, are believed to have shortage of capital as their major problems.

With the introduction of the structural adjustment programme in 1986, the problems of inadequate capital was escalated such that small scale enterprise could hardly finance their fixed capital needs like plant and machineries which are mostly imported. This was because of the fluctuating exchange rate system under SAP, which devalued Naira by more than 60% later in 1987, a market determined interest rate structure was introduced and this raised the cost of credit. Besides, banks consider small scale enterprise as highly risky and hence shy away from providing their financing needs, in spite of the Central Banks required annual credit minimum that must be allocated to them. Other financing, avenues such as owners capital retained earnings and direct government assistance are virtually ineffective. In the light of the above circumstances the question that naturally comes up is:

How can Hapel Nigeria limited adequately finance their fixed capital needs under the structural adjustment programme?

Leasing appears to be a viable financing alternative. Thus, this study will attempt to provide the rationale for leasing as a major financing device for small- scale enterprise.

• STATEMENT OF THE PROBLEMS

A glance at the existing literature on financing avenues for small scale enterprises shows that small scale enterprise experience a chromic shortage of institutional, credit some of the problems emanated in Hapel Nigeria Limited are:

Hapel Nigeria Limited has not been executing jobs on scheduled because of lack of necessary

THE ROLE OF CENTRAL BANK IN ESTABLISHING NIGERIA ECONOMY

(A CRITICAL REVIEW)

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

 

 

ABSTRACT

 

Central banks are general known to be concerned with the maintenance of monetary stability.  This task involves the regulation of money in circulation consistent with the absorphic capacity of the economy axiomatically, excessive growth in money supply rates to high rates of spending on domestic or foreign goods given that domestic supply of goods and services in essentially in elastic in the short run, excess liquidity is likely to result in substantial inflationary is likely to result in substantial inflationary pressures in the economy.  To the extent that spending pressures are directed towards foreign goods or (assets0 balance of payment pressures will ensure.  Thus, the task of monetary authorities is to ensure that the growth in the domestic  liquidity is consistent with the  objectives of out-put growth, inflation and the balance of payments.  This at any given time the CBN would ensure that supply of money is sufficiently optimal to sustain non-inflationary out-put rate and exchange rate stability.

One of the strategies of achieving this objectives is through the adoption of the liquidity management policies / techniques which afford the CBN,  the use of monetary policy instrument to influence bank reserve and consequently the growth in money supply.  The ability of the central bank to effectively control domestic liquidity depends interaction the level of the economic development particularly the state of its financial system the number and types of policy instruments available to the central banks and degree of harmonization between monetary and fiscal policies

 

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENTS

CHAPTER ONE

• Introduction
• Objective of the study
• Research questions
• Statement of hypothesis
• Statement of problem
• Significance of study
• Scope and limitations of the study
• Definition of terms

CHAPTER TWO

REVIEW OF RELATED LITERATURE

• Introduction
• Meaning of central bank
• The central bank Vs commercial banks
• The relation of CBN with other banks
• Central bank of Nigeria and its objectives and functions
• Monetary policy, meaning, objectives and instruments
• Fiscal policy, meaning, objectives and instruments used.
• Stabilization policies, objectives and conflicts,
• The role of CBN in stabilizing Nigeria economy
• Problem faced by CBN ins stabilizing Nigeria economy

 

CHAPTER THREE

RESEARCH DESIGNS AND METHODOLOGY

• Introduction

3.1     Population

• Samples selection
• Description of instruments used in data collection
• Questionnaire
• Abstract
• Personnel interview
• Questionnaire distribution and control
• Sources of data
• Procedure of data Analysis

 

CHAPTER FOUR

PRESENTATION AND ANALYSIS OF DATA

• Introduction

4.1     Analysis of response to questionnaire

• Testing and proofing of Hypothesis

 

 

 

 

 

CHAPTER FIVE

SUMMARY OF FINDINGS, RECOMMENDATIONS AND CONCLUSION

• Summary of findings

5.1     Recommendations

• Conclusions

Questionnaire

Bibliography

 

CHAPTER ONE

 

1.1     INTRODUCTION

The growth and development of international trade along  west African coast played a major role in extending the medium of exchange beyond trade by barter in the  nineteenth century.

The ‘’native currency’’ system which relied  on item  such as manila, cowries, brass  and copper rods   had to accommodate foreign currencies such as Maria Theresa dollar and British  silver coins  increased trade motivated  the setting up of the Bank of British West African [BWA] in 1894, thereby drastically reducing the barter system and ushering in a rudimentary form of commercial banking.

The issue of legal  tender currency for the  West African region  was however deferred till 1912 when the west African currency Board  [WACB] was established. The WACB was an offshoot of the recommendation of the EMMOE committee set up by the then secretary of  state the Rt. Ifon. Lewis Harcourt. The WACB retained  the services of the BBWA as its currency distribution agent. It set  up four currency centers in Lagos [Nigeria] and Bathurst, now Banjul [the Gambia].The currency in circulation  in West Africa increased steadily through the  1950s  in response to the growing  demand and increase in the World price for west African  primary products such as cocoa, groundnuts and  palm oil.

The WACB, however, did not have discretionary  control over the money stock of the territories under  the  money stock of the territories under its  sphere of influence. It was set  up primarily to promote the influencing of export trade. Specifically, it was  changed with the issue of a west  African currency, the repatriation of  such currencies and the investment of reserves. There was a fixed  parity between the local currency and the British pound while the currency had 100 percent  sterling  banking. The   reserves   were   invested  in  British   and  this  way  facilitated  Nigeria’s international   payment.  As  the  WACB  was  automatically  linked   to  the  British  system ,  the  investment  policy   was   rather  conservative  in   the   sense  that   sterling  reserves  were  invested  only   in   Britain.   Moreover,  the   WEACB   could   not  engage   in   monetary   management,  neither   were  Nigeria’s   trained   in   the   art.   In   order  to  eliminate   this   deficiency   and  promote    the   growth   of  the   domestic    money   and   capital   markets,  especially   as    the   country   marched    toward   political    independence   in    1960, the  CBN  was   established   by   the   central   Bank  Of   Nigeria   Act  of   1958.

The  bank   commenced   business   on   1^st  July   1959    with   an   initial   capital  equivalent  to   N30  million.  The    legal   f framework  of   the  central   bank   has  been   strengthened    over    time   to   address   lapses   in   financial   system  prior  to   the    enactment   of  1958   central   Bank   act   the   banking   system   in    Nigeria   was  largely  unregulated. Initial  attempt   in   1952   at  streamlining    the   practice   to   banking    to  ensure  monetary   stability  through    the   enactment   of    the   banking  ordinance     did   not   quite  address   the   problem. The   spate of    bank  failures  could   not   be  stemmed,  thus  the  central   Bank   Act   of    1958    was   enacted  to   formally  establish   a   central   monetary   authority   that   would   perform   the    traditional   roles   of   a     central     bank. The   1969   Banking   Act   and  its  amendment   which   defined   the   business    of    banking    and    stipulated   penalties   for   banking   malpractice   further   strengthened      legal    framework.

To      further     strengthen    the   supervisory     capacity   of    the   bank,  the    central   bank of     Nigeria decree   No24  and   Bank  and   other   financial, Institutions  [Bofi]  Decree  N.25 of  1991 were   promulgated. The  Bofi  Decree  among  other   provisions   centralize  the    functions   of   licensing  as  well   as   regulation  of    banks   and   other   financial   institution  in    the  bank.

The     current   legal   framework  within   which    the   CBN    operates    in   the   central   Bank growth in economics development is one of the many problems facing the Nigerian economy through these problems manifesting themselves   in most   developing  countries  and    yet   this   gets   worsened  with   the   military  rule, Nigeria   is a  typical   area   in point. Hence  the   essence  of  this  research is to  examine   the   topic ‘’THE  ROLE  OF  CBN  IN    STABIBILISING   NIGERIA  ECONOMY’.

 

1.2       OBJECTIVE     OF   THE    STUDY.

The   objective of this study shall be;

To  ascertain why the CBN is yet to stabilize  the Nigeria economy with instrument (s) of monetary and fiscal policies with their

THE TECHNIQUES OF IMPROVING COMMUNITY BANKING SERVICES IN NIGERIA

(A CASE STUDY OF OHHA COMMUNITY BANK NIG LTD)

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.

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ABSTRACT

Community banks were established in Nigeria to help remedy the rural development problem that has been facing Nigeria since after World War II.

The fundamental concepts of a community bank is of a self sustaining financial institution, owned and managed by community or a group of communities for the purpose of providing credit deposit, banking and other financial services to its members.

The objectives of the research work therefore covered the pace of providing financial and banking services and other facilities to communities that were inadequately supplied with such services, the rapid enhancement of the development of productive activities in rural areas, the promotion of emergence of an effective integrated national financial system that responds to the need of the whole economy from individual and grassroots community level through level of local government areas and states to the national level.

The study also covered the problems encountered by these banks in carrying out their functions and then the recommendations of the possible solutions.

CHAPTER ONE

INTRODUCTION                                                                       1

• Background of the study 1
• Statement of problem 4
• The purpose/objective of the study 6
• Scope of the study 7
• Research questions 8
• Significance of the study 9
• Definition of terms 10

 

CHAPTER TWO

REVIEW OF LITERATURE                                                      12

• Origin of Community Banks 12
• Nature and scope of Community Bank 17
• Objectives of community banks and

functions of community banks                                          22

• Techniques of improving community banking service 32
• Summary of related literature 36

 

CHAPTER THREE

RESEARCH METHODOLOGY                                                 37

• Research design 37
• Area for the study 37
• Population for the study                                         37
• Sample and sampling procedure 38
• Instrument for data collection 38
• Validity of the instrument 38
• Reliability of the instrument 38
• Method of administration of the instrument 39
• Method of data analysis 39

 

CHAPTER FOUR

DATA PRESENTATION AND RESULTS                                41

• Summary of results 45

 

CHAPTER FIVE

SUMMARY OF FINDINGS, CONCLUSIONS, RECOMMENDATION AND SUGGESTIONS FOR FURTHER STUDY                      47

• Discussion of results 47
• Conclusions 48
• Implications of the results 50
• Recommendations 50
• Suggestions for further study 53
• Limitation of the study 53

REFERENCES                                                                  55

APPENDIX                                                                            

CHAPTER ONE

INTRODUCTION

1.1     BACKGOUND OF THE STUDY

The federal government of Nigeria in 1990 budget speech decided to establish community banks in order to strengthen its programmes of grassroots economic development.

The fundamental concept of a community bank is of a self-sustaining financial institution, owned and managed by a community or a group of communities for the purpose of providing credit, deposit banking and other services to its members largely on the basis of their self-recognition and credit worthiness.  This is in contradiction to the near total reliance by the orthodox banks on viable and negotiable collaterals as the basis for giving credit.

It is designed to ensure that a community or group of communities may establish a community bank for the purpose of promoting rural development through the provision of finance and banking services, improving the economic status of small-scale producers both in the rural and urban areas, enhancing the rapid development of productive activities especially in the rural area to support desirable and sustainable rural economic growth in Nigeria.

A bank licensed under the community bank decree shall accept from persons various types of deposits including savings and time deposits.  Receive or collect on behalf of its customers, money or proceeds of banking instruments, provide ancillary banking services to its customers, maintain and operate various types of accounts with other banks, and perform such none banking functions as may promote grassroots development within the banks geographical areas and also operate equipment leasing facilities designed to ensure access of its customers to form inputs purchase on a consignment basis for group of client.

Community banks in Nigeria banking system dates back to 1990 when budget speech was delivered by the president, commander in-chief of the armed forces, General Ibrahim Babangida.  Since them each state of the federation now has a minimum of at least twenty (20) community banks.  Even the federal capital Territory has four.  These banks are in all part of the country.

National board for community banks is established for monitoring, promotion, development and general supervisions of the community banks.  Hence the banks are under the control of national board for community banks (NBCB) and the Central Banks of Nigeria.

As we move into the 21^st century, community banks all over the world realize that only those that overhaul the whole of their service delivery systems and operations are likely to survive and prosper in the new millennium.  This is due to the pressure of globalization, consolidation, delegation and rapidly changing technology.  In order to properly place themselves in favourable positions for competition and be one of the corporations to be reckoned within the new century, community banks are making use of information technology (IT).  They have not only started ensuring that their PC per capital use is one for every staff, they have also started bringing PCS together to form local and wide area networks.

Many community banks have installed a modern computer inter-connectivity backbone that would enable them achieve community of data and multimedia over intranets, extranets, and with the whole world, over the Internet.  They also realize that they have to achieve not only management/staff wide computer literacy, but what could e called information literacy, i.e. knowing how to locate, analyse, store and use information.  All staff and managers in a modern community banks need to be able to search and gather data from several different types  of sources, analyse them, select the relevant ones and organize them in such a manner to allow them to make decisions based on the organized data.

Community banks of the future realize that the banking of tomorrow requires more of electronic manipulation and shuffling of bits-based money and other banking transactions, instead of paper.

 

1.2     STATEMENT OF THE PROBLEMS

The fact that the rural areas are under developed when compared to the urban areas in true and the fact that there are untapped material and financial resources in these rural communities is also true.  The major problems therefore is how to harness these abundant resources for the development of the rural area through the improvement of banking services based on staff important bearing in mind that these resources are minutely held by the vast population of the rural dwellers.

The banking sector as the prime mover of the nations economic life is seen as the most viable sector to make this dream a reality.  But then, given the Nigerian situation especially Enugu Metropolis with vast area of land and low income base, the task before the community bank are quite enormous with the problem of ignorance and illiteracy of the majority of people whom the banks are dealing with and also the problem of infrastructual facilities which includes good roads, water, electricity, office equipment and residential accommodation for the bank staff who work in these rural areas.

But perhaps the most delicate of these problems is the lack of banking habit among the rural dwellers who still use old traditional ways of savings mobilization like the daily savings method or the “ISUSU” of the social meetings.  How can the bank make the rural dwellers less apprehensive of the bank and use the services provided by them to enhance their welfare?

Among the problems include:

1. Effects of these bank in national economic development.
2. Lack of modern equipment in the community bank.
3. Poor level and quality of services provided by this Ohha community Bank.
4. It is difficult to know the extent discrimination of services has gone in the banking service.
5. The contribution to growth of small scale industries in Enugu Metropolis.

6.       It is also difficult  to know the extent of alleviating the urban economic

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1. Access Bank:
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2. EcoBank:
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3. Fidelity Bank:
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4. FCMB:
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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

          The importance of capital as a necessity though not sufficient condition for economic growth is recognized in development economy where it is believed that the position of adequate financial resources is a pre-requisite for industrial transformation.

Experiences in some countries notably Japan, India and Germany have shown that banks if sufficiently in their respective countries could serve as an engine of growth to greatly assist the promotion of rapid economic transformation of any nation. Banks all over the world occupy a strategic and lending position in financial sector. Many Nigerians see banks as places nobody can mess up. Hence, their accepting institutions as the safety place for depositing their money. It is equally because of the confidence they have in the industry as a whole that over the years, many of them imbedded this habit of savings, which in turn is very necessary of positive economic development of the nation.

Ekechi (1995) said that confidence is a pre-requisite for economic recovery and sustained growth, but confidence is not a gift. It must be earned through the adjustment effort or rather confidence is rented because it is never yours and because it can be taken away anytime. The adjustable effort has to go on each and everyday”.

One legacy the structural adjustment programme (SAP) left on its trials is the increase in the number of banks in the country before the introduction of SAP in 1986. The number rose to about 127 as at August 1995. This phenomenal growth of banks was initially hailed as a healthy development in the economy because it was to spread the resources in the economy.

Because of the importance of banks monetary authorities pay great attention to the banking industry. In this process, they are sometimes faced with the problems of how best to handle financial distress in Nigeria banking sector. Financial distress in Nigerian banking sector date back to 1930 when the industrial and commercial bank, (ICB) failed one year after its established.

As Hornby defined distress as “great pains, discomfort of sorrow caused by wants of money or other necessary things.

John Ebhodaghe in explaining financial distress “two major problems are usually of serious concern. These are liquidity and insolvency”. He went further to explain liquidity as the inability of banks to meet its inabilities as they mature for payment while insolvent when the value of its realizable asset is less than the total value of liabilities.

The reasons for early distress of banks are summarized in the following features, which characterized the banks since during the period.

1. Foreign banks domination of deposit base, credit availability.
2. Banks services tailored to the needs of the expatriates.
3. Indigenous bank boom and failure resulting from under capitalization and poor quality management.
4. Lack of banking, control and direction.

Recently, it was realized that the development of statistical based, early warning system for problem banks identification would greatly assist regulators on classifying banks into sound and unsound categories. Worthy of notes is Decree No. 26 of August 1992 that prescribed the following for banks to be adjusted healthy.

1. Specified cash reserve
2. Specified liquidity ration
3. Adherence to prudential guidelines
4. Statutory minimum paid up capital requirement Adequate capital ration
5. Sound management.

Any bank, which did not satisfy any or all the listed factors, is adjudged unhealthy. It must be expressed here that there exist a thin dividing line between a distressed and unhealthy banks. This is because a bank, which is unhealthy in the short-run, may become distress in the long run. At the core of distressed bank, are twos basic problems compared to liquidity the later could not be neglected because it is an ominous sign of insolvency.

Therefore, in assessing the financial condition of a bank, it is customary to use the CAMEL framework. Also ownership structure and types of banks are important factors on explaining the financial condition of a bank. The recent NDIC report revealed that ownership structure was used to  explain the degree of financial distress seven out of eight banks, that were financially distressed were either owned or controlled by the state government.

Another indicator of a distressed bank used in most countries of the world is classified assets that exceeds 100 percent of shareholders fund. Following from above, it is therefore reasonable to conclude that a distressed bank is one tht is technically insolvent the financial distress is caused by a number of factors including macro-economic conditions, the inhibitive policy of government capital adequacy, wide spread incidence of frauds, non-performing loans, unbraided risk by banks and so on. The effect of financial distress in Nigerian banking sector is a distressed economy. The causes and problems and the ways out of this financial distress will be discussed in details in this work.

 

1.2                         STATEMENT OF PROBLEM

          Financial distress in Nigerian banking sector dates back to colonial era. One of the early Nigerian indigenous banks, the industrial and commercial banks, the industrial and commercial banks (ICB) failed in the early 1930’s and between 1992 – 1994, the central bank of Nigeria (CBN) and Nigerian Deposit Insurance Corporation (NDIC) were face with the problems on how best to prevent the financial distress in the banking   sector. Within this period, more than thirty banks had been adjudged financially distressed.

The question remains what are the causes of these financial distresses in the banking sector? According to Charles worth, research arises when there is problem to solve, peculiarities