THE IMPACT OF MERGERS AND ACQUISITION IN NIGERIAN ECONOMY (2002 – 2005)

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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  Nigeriabanks

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

 

ABSTRACT

 

This project is in partial fulfillment of my Ordinary National Diploma (OND) in Accountancy.

The project topic “the impact of mergers and acquisition in Nigerian economy”, will help in bailing out an aching company from liquidation and bankruptcy in Nigerian business circle.

For the purpose of quick understanding of the topic, the research work has been carefully organized in each chapter and it is hoped that the chapters and paragraphs would be studied in order of presentation.

The first chapter is devoted to a lucid introduction of the topic while the second chapter deals with review of the study and its impact in Nigerian economy.  Chapter three deals with the findings that were observed from the analysis and interpretation of data collection.

 

TABLE OF CONTENT

CHAPTER ONE:

• Introduction

1.1     Background of the study

1.2     Statement of problem

1.3     Objectives of the study

1.4     Significance of the study

1.5     Scope and Limitation of the study

1.6     Definition of terms

References

CHAPTER TWO:

• Literature Review

2.1     The Impact of mergers and acquisition in Nigerian Economy

2.2     Genesis of the Impact of mergers and acquisition in Nigerian Economy

2.3     Reasons for the impact of mergers and acquisition in Nigeria Economy

2.4     Initiation of the mergers and acquisition in the Nigerian Economy

2.5     Mechanics of Assets valuation and compensation method

References

 

CHAPTER THREE:

• Findings

3.1     Summary of findings

Bibliography

CHAPTER ONE

 

• INTRODUCTION

1.1     BACKGROUND OF THE STUDY

The matter of mergers and acquisition first emerged in the “Nigerian Capital Market is 1983” and it has become charged with controversies and conflicting views.

Mergers and acquisition respectively is the combination of two or more formerly independent business unit into organization with a common ownership and management while the later is all business and corporate organization, and operational devices and arrangements by which the ownership and management of independently operated properties and business are brought under the control of a single management.

 

• STATEMENT OF PROBLEM

Mergers and acquisition scheme is a way of pulling out an ailing company from the wood.

The study therefore stated reasons for which made headway from the fact that investors and the general public are not sufficiently experience to appreciate the importance of mergers and acquisition.  Such reasons are stated below:

• To increase market power or share
• To gain promotional projects
• To obtain monetary economic of scale etc.

 

• OBJECTIVE OF THE STUDY:

Merg

POOR PERFORMANCE OF STUDENTS IN ACCOUNTING SUBJECTS

(A CASE STUDY OF ENUGU STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY ENUGU)

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  Nigeriabanks

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

 

 

CHAPTER ONE

INTRODUCTION

1.1     STATEMENT OF PROBLEM

1.2     PURPOSE OF STUDIES

1.3     SIGNIFICANCE OF THE STUDY

1.4     STATEMENT OF HYPOTHESIS

1.5     SCOPE OF STUDY

1.6     LIMITAITONS OF STUDY

1.7     DEFINITION OF TERM

 

CHAPTER TWO

2.0     REVIEW OF RELATED  LITERATURE

2.1     ACCOUNTING POOR PERFORMANCE

2.2     CAUSES OF POOR PERFORMANCE

2.3     BRANCHES OF ACCOUNTING

2.4     SUMMARY OF LITERATURE REVIEW

 

CHAPTER THREE

3.0     SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION

3.1     FINDINGS

3.2     RECOMMENDATION

APPENDIX

 

CHAPTER ONE

 

• INTRODUCTION

According enjoy an unalloyed, an compromising and

unfettered priority in Nigeria.  If there is any misgiving about this assertion, it is not with accounting education.

It is the danger that beneficiaries will regard accounting education as a panaceas for all their problems.  Where expectation become unfulfilled due to bad planning, then frustration and discontent will set in an accounting professional which had begun a lode star, might and up as a mirage this is one way of starting the oblivious fact that disillusionment can set in through bad planning and negligence.

Non the less arts oriented subjects can survive even with in the context of bad planning but social science taught in a similar situation will create an unfathomable discontentment.

Accounting has been defined as a system of principles and techniques, which permits the recordings, analysis, interpretation and communication of financial information as an aid to managerial decision making.

The recording phase of accounting is commonly called book-keeping the analysis, classification and systematic recording of the inter pretative phase is called accounting the professional aspect of accounting practice.

A study of business accounting is therefore concerned with the process of measurement and communication both of business income and the financial position of an entry.

Accounting is a subject that is offered in Nigeria secondary schools, polytechnics and universities; accounting subjects includes: management accounting, financial accounting, cost accounting, public sector, accounting taxation and auditing.

The bedrock of accounting is an understanding of the underlying principles ad application of the techniques and skills necessary for their application unlike the natural science, accounting is not based on fundamental laws or absolute percepts.

Rather accounting principles are generalization which have evolved over many years through trial and error and which accounting practice can be evaluated.

This is their widest definition accounting principles uncooperative postulates rules, conventions, practices and procedures which have been adopted as a general guide to action by the accounting profession is therefore essentially an attempt to inculcated these, basic fundamental principles and the acquisition of skills ad the techniques in the application of these principles the professed aim of accounting studies is to provide the student with the knowledge and skills required not only for the business word but also for other social situations.  As it teaches ethnical behaviour in personal and business affairs, such as behaviour include punctuality, honestly, hard work and sanctity of human life etc.

Accounting is logically reasoning in the form of board principle that are capable of providing a frame of reference by which accounting practice can be evaluated and realization of these objectives can only be attested through the qualification of the teacher and his experience or by way of impacting knowledge skill, it must train the student to be adopted, it must extend the horizon of his interest and must also develop his personality of which some of the aims designed to be achieved.

Not withstanding the importance of this subject in our everyday life, we still fund from available statistics that a large percentages of the present day student population in various school, have little or not interest in accounting subject.

This is more evidence from the mass failure recorded in costing accounting and financial last year in Enugu State University of Science and Technology (ESUT).

However, the aim of this project therefore is to reveal the causes of student poor performance in accounting subjects in Enugu State University of Science and Technology (ESUT) and appropriate to the causes.

1.1     STATEMENT OF THE PROBLEMS

No one method can be considered to teaching of accounting subjects, perhaps the blending or combination of methods might help the effectiveness of teaching in classroom. But what immediately comes to mind is the fact that the techniques or methods taught in the classroom have only a limited application in the business proactive, accounting, business administration and management where the absence of instructional gadgets such as m

AUDITING AS AN INSTRUMENT FOR ORGANIZATIONAL SUCCESS (A CASE STUDY OF ANAMCO LTD. ENUGU)

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  Nigeriabanks

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

 

 

ABSTRACT

Auditing is continually changing and developing to meet the needs of the business environment it serves. The role of auditing towards organizational success have attracted comment on the front pages of national newspapers, rather than in just the financial pages have even led on occasion to question and statement in parliament.

This coverage has not always been good news for the auditing profession, but it does indicate a heightened awareness in society of the potential importance of what auditors do. It also reflects the way in which auditing practice and the activities of audit firms have developed and expanded business especially Anamco Ltd. Enugu.

While at one time auditing was generally regarded as a procedural activity involving the application of mechanical techniques, there is now greater realization that both the purpose an the execution of an audit are far from simple matters.        In view of the above fact the study was designed to examine Auditing as an instrument for organizational success in Anamco Ltd. Enugu. In the course of the research oral interview and questionnaire were adopted as the main instruments for collecting data for the study. The data collected were tabulated, analyzed and interpreted. From the analysis some revelations were made. Base on the revelations some recommendations were made to eliminate or ameliorate Audit department of the corporation.

 

 

 

 

 

 

 

 

TABLE OF CONTENT

          CHAPTER           ONE

• Introduction 1
• Statement of Problem 4
• Purpose of the Study 4
• Significance of the Study 4
• Statement of Hypotheses 5
• Scope of the Study 6
• Limitation of the Study 6
• Definition of Terms 7

          CHAPTER TWO

• Definition of Auditing 8
• Objective of Auditing 11
• Types of Auditing 11
• Reliance of Internal Auditing to External Auditors 17
• Auditing as a measure for Controlling Fraud 19
• The Future of Auditing 22
• Auditors Liability 23
• Audit Report 30

Reference                                                                                   32

         CHAPTER THREE

• Research Design and Methodology 33
• Selection of population 33
• Sample Used 33
• Method of Investigation 34
• Techniques of data collection 35

CHAPTER FOUR

• Data Presentation and Analysis 36
• Questions, Presentation and Analysis 36
• Test of Hypothesis 49

         CHAPTER FIVE

• Summary of Findings, Conclusion and Recommendations 52
• Summary of Findings 52
• Conclusion 55
• Recommendations 56
• Suggestion for further study 57

Bibliography                                                                      58

Appendix (Questionnaire)                                                 60

CHAPTER ONE

1.0    INTRODUCTION

The practice of auditing in the primitive form can be traced back to ancient times where the receipts and payments of an estate or a manor were read to the head or proprietor, or the Lord of a manor. The word auditing originated fr4om the Latin word Audire (meaning to hear). The business of this period was characterised by sole proprietorship.

But with industrial revolution, there was an increase in business transactions and there emerge partnership and joint stock companies. The evolution of mechanised industries involved the provision of finance far in excess of what it used to be. Business become more complex and required more formal and improved accountability.

Under the company form of organisation, the shareholders as a body delegated the management of the undertaking to a board of directors and periodically the board submittes to the shareholders accounts of the company in order that the members might be able to see a true and fair view of the financial position and the profit or loss of the undertaking in which they were interested.

Because of these circumstances the need arose for some means by which the shareholders as a body might be satisfied that the accounts, presented to them by their board of directors, did in fact show a true and fair view of the financial position and earnings of the company. It was for this reason therefore that the practice developed of appointing auditors whose duty it was to verify on behalf of the shareholders the accounts of the directors and to report there on to the shareholders.

Under the early British companies Acts, the auditors appointed were one or two of the shareholders of the company. As however, the chosen auditors commonly had insufficient technical qualifications, there were probably not able to carry out a very effective audit nor were there paid anything for the work they did although a later Act did provide for them to employ a clerk to do some work, whose remuneration should be provided by the company.

It was the British companies Act, 1900, which first made it legally compulsory for every company to appoint independent auditors, as we now know them, and provided for their remuneration. It was undoubtedly the rapid increase in the number of joint – stock companies that took place at this time, and the compulsory professional audit thus provided for in the companies Act, 1900, that gave the great impetus to the development of the accountancy profession. In Nigeria today the accounts of every company and the majority of partnerships are audited by professional accountants and in recent years the accountancy profession has expanded greatly in many other directions.

1.1    STATEMENT OF PROBLEM

This study entitled “Auditing as an instrument for organisational success” attempts to determine the importance of auditing to an organisational growth.

It is also meant to discover the:

• Objective of Auditing
• Types of auditing
• Relevance of internal auditing to external auditors
• Auditing as a means for fraud control
• The future of auditing, Auditors liability and report.

1.2     PURPOSE OF THE STUDY

The

DESIRABILITY OF SECURITIES FOR LOAN IN NIGERIAN COMMERCIAL BANK

 (A CASE STUDY OF AFRIBANK PLC)

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  Nigeriabanks

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

 

 

ABSTRACT

 

The main aim of this research work is to establish that all things being equal the loan will be safe, properly used and repaid on schedule. But this is gamble in the future. All things may not be equal and things may go wrong such that basis for optimism established and expected do not materialize.

This is why the banker should not be left uncovered. The purpose of the research is to evaluate the extent to which commercial banks in Nigeria desire securities for loans in bank in Nigeria desire securities for loan in bank lending – The findings of this study will help to make recommendation and suggestions on how best to improve the situation. In conducting this research work, references were made to works of other authors on allied subjects. But it was discovered that the text dealt more on theoretical and academic aspect of the issue, to the neglect of what is often experienced in dealing with most banks.

Thus relevant data were obtained from primary sources and oral interviews were conducted and research questionnaire administered to select persons in the bank. These data were carefully evaluated, classified and summarized into tables appropriate for the statistical testing of the postulated hypothesis. The test of hypothesis employed from the primary sources. Based on the facts that emerged from the analyzed data, it was discovered that there is no effect of securities on Bank lending, despite the fact that lack of security cannot prevent a bank from lending.

Recommendations made are in respect of re-introduction of deregulation in the economy by the Federal Government to improve and to diversify bank lending in order to foster rapid economic development.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENT

 CHAPTER ONE

1.0  INTRODUCTION

• Statement of Problem
• Purpose of the study
• Significance of the study
• Statement of hypothesis
• Scope of the study
• Limitations of hypothesis
• Definition of terms

 

 

CHAPTER TWO

2.0 REVIEW OF RELATED LITERATURE

2.1 History of Commercial Banking in Nigeria

2.2 Bank credits / facilities and the economy

2.3 Lending, a function of the commercial Bank

2.4 CBN credit policy guidelines as it affects borrower.

 

CHAPTER THREE

3.0    RESEARCH DESIGN AND METHODOLOGY

3.1 Sources of Data

Primary data

Secondary data

3.2 Sample and sampling procedure

3.3 Method of Investigation

 

CHAPTER FOUR

4.0      DATA PRESENTATION AND ANALYSIS

4.1 Data presentation and analysis

4.2 Test of Hypothesis

 

CHAPTER FIVE

5.0 SUMMARY OF FINDINGS, CONCLUSION AND             RECOMMENDATION

5.1 Findings

5.2 Conclusion

5.3 Recommendation

Bibliography

Appendix

CHAPTER ONE

 

1.0               INTRODUCTION

          Lending is the main function of commercial banks through lending banks strives to satisfy the credit needs of the economy as well as enhance its profitability. One of the cardinal principles of classical banking is to ensure effective lending.

Lending is the major product of every commercial banking activity, and it also provides the larger part of the bank’s profit. Banks in Nigeria have found it necessary to increase their lending ability and at the same time increase policies to establish the direction and use of fund from shareholders, depositors and creditors to control the composition and size of the loan portfolio and to determine the general circumstances under which it is appropriate to make and advance.

A banker’s decision will be influenced by many factors. Some of these factors include the character of the borrower, the risk involve the profitability of the transaction to the bank, the lending policy of the government, the best interest of the borrower and of the community generally.

The perfect advance or lending will be safe liquid and profitable. “it will for a suitable purpose. Needless to say, these requirements will not always be present at the same time and banker will therefore search for an acceptable compromise”.

Lending is considered effective if it successful reconciles the banks’ objective of maximum profitability to the shareholders of the banks and maximum liquidity to meet the transaction and precautionary needs of the banks customers and investing public. But for obvious reasons, this principle cannot be regarded entirely satisfactory in a developing economy like ours (Nigeria) where we have a lot of new generation banks, which lends to a conflict (severe conflict) between, the profitability and liquidity needs of banks. Against this background “effective lending in a developing economy may be defined as the quantum of lending which maxims the banks objectives of liquidity and profitability and the economic objectives of development. This is because highly profitable lending which also ensure liquidity may not always be effective. “for the instance lending  for commerce may be effective in the profitability and liquidity sense, but may be ineffective in terms of maximum contribution to economic development”, similarly, although lending  to Agriculture, Road construction or House, it may well be very effective lending  in a development sense. Thus effective lending in a development economy must combine the classical view”. It is therefore important to note that lending should not be seen by the two parties involved bankers and borrowing customer as a hide and seek game, but as partners in progress. The baker should equally market his product and make adequate profits. The loan should be adequate and recoverable at maturity together with interest. The loan should be properly secured to make up for any liability in case the borrower defaults or facility goes bad. Security is a kind of insurance. The real security is the character of the borrower unsecured borrowing in the shape of balance sheet that is, advances to big established limited companies may account for nearly half of the banks lending in any particular year. These advance, made to trusted borrows are usually for less troublesome than the secured advanced, which require a certain amount of work before the advance is taken, to see that the security is perfected, that the bank has control over it.

 

 

 

1.1               STATEMENT OF PROBLEM

The critical issues on the problems and prospects in extending credit facilities by commercial banks to their customers and the investing publics for investment purposes are many. Banks do not give their customers loan because they need it. Certain factors should be taken into consideration. Commercial banks as we know, by their very nature in terms deposit liabilities are traditionally short-term order. They do not participate in the provision of long-term lending, until recently when commercial banks under section 21 of the banks and other financial decree (BOFID) No.

COMMUNITY BANK AS A CATALIST FOR RURAL DEVELOPMNET IN ENUGU STATE

[A CASE STUDY OF OGUI URBAN COMMUNITY BANK, ENUGU]

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

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         ABSTRACT

 

This project is a study of community bank as catalyst for rural development using ogui urban community bank as a case study. The research work brought to light the various ways through which the rural areas have been able to benefit and gain development through the existence of community banks.

During the course of the research it was seen that the community banks of rural areas through increasing the credit position, mobilizing the savings of the rural dwellers and generally improving the banking habit of the people.

The research was done using research methods that included; collection of data through questionnaires, oral interview, observations and secondary data.

The research intends to be beneficial to research students, community banks, and industrialist. The economy and the public at large

CHAPTER ONE-INTRODUCTION

• Background Of The Study

1.1                    Ogui Urban Community Bank

1.2                    Statement of Problem

1.3                    Objective of Study

1.4                    Research Question

1.5                    Research Hypothesis

1.6                    Significance of Study

1.7                    Scope and Limitations of Study

1.8                    Definition Of Terms /Reference

 

CHAPTER TWO; REVIEW OF RELATED LITERATURE

• General Review
  • The Concept Of Community Bank
  • The Origin Of Community Banking In Nigeria
  • Community Banking As A Catalyst For Rural Development
  • The Impact Of Community Bank On The Rural Economy
  • Enhancement Of Banking Habits By Community Banks
  • Problems Facing Community Banks Summary

References

 

CHAPTER FOUR, PRESENTATION AND ANALYSIS OF DATA

Testing Of Hypothesis

 

 

CHAPTER FIVE; FINDINGS, RECOMMENDATIONS AND CONCLUSION

Findings and Discussions

Recommendation

Conclusion

Bibliography

Appendix

CHAPTER ONE

 

BACKGROUND OF THE STUDY

Long before the inception of community banking system in Nigeria , intensive campaigns were organized nation wide urging community to form community Development  Association [CDA] or where they already exist6 in form of town union or patriotic association to register them in their local government. This was to create an avenue for which they could more effect t lively participate in rural development programmes at grassroots .Development association was found and registered as at 31^st December 1992.

It is pertinent to mention that government had before this time established some development agency intended to providing grassroots’ development. These include National Directorate for Employment [NDE] Better life programmed of Rural Dweller [BLPRD] Rural Banking ,people’s Bank and Directorate of food , road and  Rural infrastructure [DEFRRI] whose primary task was to a identify , involve and support viable local community organization in the mobilization of the rural population for sustained rural development activities bearing in the mind the need of promoting greater participation and economic self- reliance on rural development “

On the basis of this and other functions defined in the Decree 4 of the 1987, as stressed by mabogunje, the directorate fell into three broad areas as

1. Community organization and social mobilization
2. Infrastructural Development
3. Promotion of productive activities.

The idea of community banking was made known to the public during January 1^st 1990 budget speech by the president and commander of chief  the Armed forces, General Ibrahhim Alamosa Babangida, in that speech he clearly spelt out what the government has in mind as follows

The adjustment subsidy levels of domestic price of petroleum product have been estimated millions is 1990 fiscal year,

Government decided that the sum be put back into strengthening its programme  of grass-root economic development

Accordingly, the sun of #453 million will accrue to special account with the central bank to strengthening the people’s bank.

Maboguje defined community bank as a self sustaining financial institution, owned and managed by providing credit, deposit banking and other financial services to its members largely on the basis of their self recognition and credit worthiness”

Based on the foregoing, comm. Unity bank are primarily set up to promote productive         activities in the rural areas. Specifically, they ar5e meant to facilitate the programmes of the directorate of food, road rural infrastructure by providing easy access to credit for rural producers.

National Network of community banks are intended to greatly strengthen the massive programmes of government in rural development. To day’s

over 1,110 community banks are found to have been established throughout the country with Alheri community community bank ,  Tudun Wada in Kadauna State as the first to be commissioned on 31^st December, 1990.

The shift of emphasis to rural development is a matter of necessity at this present state of our development. It is important to state here that over 75% o the country’s resources endowment abounds in the rural areas. Again, part of our experiences in rural development has clearly shown of rural that effort at expanding economic base of scarcity of, and restricting access to loan able fund.

In addressing this problem, pervious government in their economic policies had relied exclusive on development banking and rural branch banking of the orthodox banks. However, it was observed that the sophisticated mode of operation of the conventional bank, their legalistic insistence on collateral had rendered them incapable of dealing with the unsophisticated rural dweller and lower strata of our society.

Jags and Nkom stressed that the introduction of community bank was itself motivated b y the failure of previous attempts at extending credit to the rural producer. It is therefore, in firm belief and commitment to rural development that every Nigerian who is engaged in productive activities must have access to loan able fund regardless of the size of loan. This is why community bank as a catalyst for rural development will be reviewed in the project between 1992-1995, using ogui urban community Bank Enugu as a case study.

 

 

• OGUI URBAN COMMUNITY BANK ENUGU

The bank was incorporated in April 1992. It started operation 17^th July 1992 with staff strength of thirteen which at the time of writing this project has risen to twenty seven ogui urban community bank started operation during the deregulation of the banking in Nigeria.

As at November 1995 the bank was operating with little above 1000 savings account holders, 300 current account holders comprising individuals, organizations and staff of the bank.

The banks also have eleven {11} fixed deposit account holders. Apart from the conventional banking functions, the bank has contributed to rural development through her mass transit services among others.

Ogui urban community bank has no other branch because community banks are established to function within one community alone, thus reflecting the UNIT BANKING SYSTEM – which operates in some advanced country of the world such as United states of America {U.S.A}. However, the bank uses United Bank for African [UBA] and union bank PLS Enugu as her correspondents bank to facilitate clearing business in the central bank of Nigeria.  The bank renders all banking services except foreign exchange transaction, which the decree establishing it restricted to other financial institutions.

 

• STATEMENT OF PROBLEM

Despite the various economic policies rural economic development, the

banking habit’s of rural dwellers have not improved appreciably banks are nearly operating exactly the same way as conventional banks do granting loans to small scale producers

The bank require- collateral before credit is grante