THE CENRTAL BANKING AND MONETARY REGULATION IN NIGERIA

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

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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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

 

1.0     INTRODUCTION

          The question of money is a very important question today.  This is because of the role of money in social and economics development.

Money plays a key role in this sectors and requires that its position is always under focus.

The government of any country keeps it’s eye on this sectors by using monetary policies are a weapon of control.  Monetary policies are directives, guidelines, or order issued to the player in the money markets by the government.

In Nigeria, the Central bank of Nigeria (CBN) is the highest organ used by the Federal Government to control the economy.  The CBN was established to perform this duty and to creates money to influences economics activities and achieve economics objectives of the government.  The pursuance of this objectives gives to Central Banking and Monetary regulation in Nigeria.  The CBN is the highest bank or known as the apex bank.

This position it is occupying make it possible to regulates direct and control economics activities fro both the government and private sector.  Much of government activities may lead to high spending of money which may also lead to inflation.

Inflation does a lot of damage to the economy.  It weaken the economy because it reduces the values of the currency.

It makes the cost of goods and services very high.  It affects planning and dis-encourage investment etc.

The Central bank start it function on the economy by first of all licensing the commercial bank and playing supervisory role for all other player in the money market.

This is to makes sure that he aims monetary regulation in Nigeria is ascertained.

 

 

 

1.1     BACKGROUND OF THE STUDY

The Central Bank of Nigeria (CBN).  The Institution that perform the Central Banking function for Nigeria is called Central Banking of Nigeria.  In this section, I shall briefly discuss the background to it’s establishment, it’s organizational structure, it’s operational modalities, and financial statement.

 

BACKGROUND TO THE ESTABLSHMENT OF THE CENTRAL BANK OF NIGERIA

Like the case in many countries, Commercial Banking started in Nigeria long before the Central bank was established, where as the trust commercial bank branch was established in Nigeria as far back as 1892, it was only in 1953 “6 years later” that Central bank of Nigeria was established by Central Bank of Nigeria Act of July 1959 with an authorized capital of N1.5m of which N1.25m was paid up.

Prior to the establishment of the Central bank of Nigeria, the role of a Central bank was performed by the West African Currency Board, which was established by British Government in 1912.

This body was established to perform the primary role of issuing a West African Currency in all the five countries that were British Colonies.

In the year 1952 a motion was moved in the National Assembly for the establishment of Central Bank of Nigeria.  Following the insistence of Nigeria political leader on developing of Central Bank for the country, J.L. Fisher, a financial expert of the Bank of England was appointed to investigate the desirability and practicability of instituting such Bank.  Fisher recommended, the establishment of an issuing bank.  His recommendation was rejected.

A team of World Bank carried out another investigation in the year 1955 and recommended a State Bank of Nigeria endowed with power of Modern Central Bank.  Their recommendation were not implemented.

It was the 1957 report of J.B Loynes of the Bank of England that pared way for the establishment of the Central Bank of Nigeria.  The Central Bank of Nigeria Act was passed on 15^th May, 1958.

 

          ORGANISATIONAL STRUCTURE OF THE CENTRAL BANK OF NIGERIA

1. BOARD OF DIRECTORS

It is the highest policy making organ of the Central Bank of Nigeria.  The Board is presided over by the Governor of the Central Bank of Nigeria.  The member are appointed by the presidency.

 

1. COMMITTEE OF GOVERNOR

The committee is charged with the daily administration of the Bank.  It is headed by the Governor of the Central Bank of Nigeria.

Other member of the committee are: –

DEPUTY GOVERNOR  –         Domestic Monetary and banking

Policy

DEPUTY GOVERNOR  –         General Administrations

DEPUTY GOVERNOR  –         Domestic Operations

DEPUTY GOVERNOR  –         Internal Operations

DEPUTY GOVERNOR  –         Management Services

 

1. PRINCIPAL OFFICERS OF THE BANK

The major division of the Central bank of Nigeria are headed by some principals officers of the Bank referred as to as directors.

Director of Agricultural Finance

Director of Administration

Director of Research

Director of Foreign Operations

Director of Currency Operation

Director of Banking Supervision

Director of Finance and Account

Director of Banking Operation

Director of Security Services

Director of Internal Audit

Director of Personnel

Director of International Economic Relation

Director of Trade and Exchange

Director of Building and

PROBLEMS OF OBTAINING BANK LOANS IN NIGERIAN BANKS

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

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

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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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 research aims at tracing the problems that borrowers do encounter while obtaining loans from banks and the causes of these problems.

The researcher trims to view these problem emanating from the borrower method of application vis-à-vis the central bank credit guidelines and the commercial bank principles and practice of lending.

The researcher also analysis this issue from the point of view oft eh borrow and attempt to make this thesis more understandable by first of all reviewing the different aspects to bank loans, different principles and practices of lending obtainable indifferent country and finally throwing light on the economic effects of low banking lending.

Some prospects and recommendation were also discussed as conclusion. The research is not exhaustive but for time and financial constraint.

 

 

 

TABLE OF CONTENTS

CHAPTER ONE

• Introduction

1.1     Background of the study

• Objective of the study
• Significant of the study
• Scope and limitation of study
• Definition of terms.

CHAPTER TWO

• Literature Reviewed

2.1     Short term loan and over draft

• Medium and long term loan
• Principles of Good Bank Lending
• Lending procedure advantages and disadvantages
• Problems of bank lending
• Securities for bank lending.

CHAPTER THREE

3.0     Summary and finding

• Conclusion
• Recommendation

Bibliography.

 

 

 

 

CHAPTER ONE

 

 

• INTRODUCTION

1.1     BACKGROUND OF THE STUDY:

Erasing enterprises is established with the assumption that the objective of every management is to maximize profit.  And a very good example of the sector is the financial institution known as the banking sector.  The phenomenal growth of banks following the introduction of SAP creates a fake impression that the banking sector is an all corners business.

The banking and financial industry if unique in that it depends mostly on the public confidence and once the confidence is eroded on some banks, it may spread to other banks and institutions and this could be very dangerous to the whole system and the economy at large.

It should also be noted as (Orji 1998) stressed that bank lending simply means credit creation and that implies that the profit maximization of the banks is mainly realized through credit creation, the bank authorities should abide by the rules and regulation of APEX Bank (CBN) i.e. lending to the worst unit sector of the economy and on a reliable collaterals.

The research work will focus on the possible reasons for bank failures.  In this regard of loan lending and loan recovery and effect of such on the rest of the populace plus how the financial industry could be transformed to meet the increasing challenges of the present day and finally assessing the role of the Central Bank of Nigeria in ensuring safety of bank loan.

 

• OBJECTIVE OF THE STUDY:

The issue of bank lending and its recovery strategies passed as a challenge to the financial sector in particular and the whole economy in general and as such the project work is carried out to meet the following aims and objectives.

1. To know if the increased administrative expenses can be eliminated by good lending policies.

To find out if default borrowers can

FRAUD MANAGEMENT IN THE NIGERIA FINANCIAL SYSTEM

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

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

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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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

There appears to be little doubt about the fact that frauds in banks is a matter of the greatest concern to bankers, the monetary/political authorities and the generality of Nigerians today.  It is so for many reasons.  The methods acquire sophistication by the day.  The size increase in geometric progression.  The people involved hitherto were among the respectable members of the church, the mosque, the community.  Fraud leads to unwarranted losses for the banks and put the management of each institution on its toes whilst expending hard earned resources and energies on fraud prevention and detection.

In view of these, fraud management was introduced in the financial system so as to know ways to detect, prevent and minimize fraud in Nigeria financial system.  Fraud is a number one enemy to all concerned with the growth and development of our financial system.  Any effort to fight this enemy is therefore most desirable.

Equally important, every incidence of bank fraud literally chips at a bit of public’s confidence in the orthodox financial institutions that bank’s fraud delay or slow down the full development of banking habit in Ngeria.

 

TABLE OF CONTENTS

 

CHAPTER ONE:

• Introduction

1.1     Background of the study

• Statement of the study
• Objectives of the study
• Significance of study
• Scope and Limitations of the study

CHAPTER TWO:

• Review of Literature

2.1     The effects of fraud in the Nigeria Financial System

• Nature and Types of fraud
• Causes of fraud
• Procedures through which fraud might be detected
• How fraud can be minimized

CHAPTER THREE:

• Summary of Findings, Conclusion and Recommendation

3.1     Discussion of findings

• Conclusion
• Recommendation

Bibliography

 

CHAPTER ONE

 

• INTRODUCTION

 

1.1     BACKGROUND OF THE STUDY:

Irrespective of the depth of knowledge available in the banking industry, there still exist causes of collapse, frauds and inefficiencies.  Many banks are distressed or liquidated today.  Research has made it clear that fraud is one of the major causes of banks being distressed.

In view of this, fraud management (i.e. hardly of minimizing fraud) was bought up in our financial system so as to prevent fraudulent practices in our banks.  Again, bank fraud is a great concern to all managements’ customers, equity holders, the entire public and the government as a whole.  One of the prevailing features of our bank of today is the ever-increasing incidence of fraud and deceitful debts that is affecting our financial institution in Nigeria.

 

 

• STATEMENT OF PROBLEM:

This research project is designed to investigate fraud in financial institutions.  To determine the types, causes, effects and how to minimize fraud in financial institutions.

Inspite of the efforts being made to detect fraud, our financial institutions are experience frauds and irregularities which has put many of them in distress.  Here, we will see how fraud has contributed to decrease in economic growth, the major causes and possible ways of minimizing it.

 

• OBJECTIVES OF THE STUDY:

This study is being done to determine the ex

AN ANALYSIS OF THE TECHNIQUES OF DETERMINING SOLVENCY IN THE NIGERIAN MANUFACTURING INDUSTRY (A CASE STUDY OF NIGERIAN BREWERIES PLC ENUGU

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

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

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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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

          In the contemporary and ever dynamic business world, there has been an increasing shift in management concepts a shift in emphasis from production management to marketing management and now to management of resources at the firms disposal.  Management now strive to achieve sound and stable financial standing by concentrating efforts on financial planning and control.  The firm has to allocate its limited resources among alternative uses.  If resources were unlimited, there would be no need for decisions, because all possible activities could be achieved.  Scarce resources necessitate a choice, and the selection of one alternation implies the exclusion of others.

On this background therefore, the author intends to undertake a performance analysis of the Nigeria breweries Plc through the investigation of the success of the brewing industry.  This would require the determination of solvency.

The major sources of data for this study will be the financial statement of the Nigeria Breweries Plc.  This will be supplemented with questionnaire distributed to the senior and Junior staffs of the company.

The secondary source of data will be from different financial texts on solvency and liquidity related matters.  Financial ratios (both short and long term) will constitute part of the analysis.

Further illustrations will be projected using tables, graphs and charts.

It is hoped that things  the result of the finding will among other  things serve the purpose of useful information source for the management of the Nigeria Breweries Plc indecision making.  For students in your research work, and also for any other person undertaking a work on the techniques of determing solvency both as problem solving tool as well as an academic exercise.

CHAPTER ONE:-

• Introduction 1
  • Background of the study 1
  • Statement of the problem 3
  • Objective of the study 3
  • Research Question 5
  • Research Hypothesis 6
  • Significance of the study 6
  • Scope, Limitation and Delimitation 7
  • Definition of Terms 9

CHAPTER TWO:

• Review of related literature 11
  • The concept of solvency 11
  • The legal concept of solvency 16
  • The concept of solvency as it relates to corporate failure                                                   18
  • Test of solvency 20
  • Communication of financial information 27
  • The Balance sheet 29
  • Income statement 31
  • Objectives of the company 31

 

CHAPTER THREE

• Research design and methodology 41
  • Research Design 41
  • Area of study 42
  • Determination of sample size 42
  • Population 43
  • Location of data 44
  • Method of data collection 45
  • Method of data presentation 47
  • Method of data Analysis 47

 

CHAPTER FOUR

• Data presentation and analysis 49

 

CHAPTER FIVE

• Findings, Recommendation and Conclusion 87

 

OTHER SEGMENTS

1. Bibliography 95
2. Appendix                                                             98

 

 

 

 

 

CHAPTER ONE

INTRODUCTION

BACKGROUND OF STUDY

The Nigerian Breweries Plc was incorporated first, as Nigerian Breweries Limited on 16^th November, 1946 and later as Nigerian Breweries Limited on the commencement of operations in a second breweries at Aba in 1957.  In accordance with the companies and allowed maters Act of 1990, the name was again changed to Nigerian Breweries Plc, since the formal incorporation in 1946, 51 years have rolled by, 51momentous years that  saw the company grow from its modest beginnings into the ground company that it is today.  The company now has five Breweries from which their highly refreshing high quality brands are distributed to all the nooks and corners of this great country.

The company has kept pace with key international development, thus ensuring that their systems, processes and operational procedures are always in conformity with proven best practices in most parts of the world.  This has been evident in the vision and professionalism demonstrated in the way the business ha been managed in the past 51 years.  The company now has a portfolio of eight high quality brands, star and Gulder lagers Maltina Amstel Malt drinks and legend extra stout, Schweppes Bitter Lemon, Schweppes Tonic Water and Schweppers Soda Water, all the above improvements in the company would not have been possible with out the company being solvent.

The old business adage “you have got to have money to make money” is simply a recognition that most companies needs funds in order to operate profitably.  The need for funds in a manufacturing company which Nigerian Breweries Plc is no exception affected by everything that happens to the company.  While the amounts needed in this company is inluenced by many factors and fluctuate over a period of time, this company have substantial investment in the current asset of stock, customers (debtors) and cash also in fixed assets such as building plants and equipment.

As a result of scare resources which is visible in almost all manufacturing companies, the assets disclosed on the balance sheet at any point in time are reflection of the cumulative investment decisions of management.

A weak liquidity position poses a threat to the solvency of the comparing and makes it unsafe and unsound.  This company does not consider the use of the techniques for determining solvency very important and as such the only technique they use are as follows:-

• Total capital to total profit Assets and
• Dividends to profit after tax

 

What the company does most of the time is forecasting and assumption.  The company is always interested in cash and upheld it as the best technique for measuring the companies solvency.  As a giant, this company always meet up with their cash requirement.  Their ratios for  measuring solvency will be included in the study.

(David E.L 1981)

1.2     STAEMENT OF THE PROBLEMS

1. One of the important factor that has contributed much in drilling the activities of this company is liquidity problems and its attend and insolvency. At times the company find it difficult to meet up with their maturing financial obligations due to late arrival of funds.
2. The economic recession in the country and the political uncertainty have also aggravated this problem of liquidity and this has become a great concern to the company. A common issue in the board  meeting of this company is how to survive through

With the i

FRAUD AND FINANCIAL MALPRACTICES AS A LENDING FACTOR TO BUSINESS FAILURE

(A CASE STUDY OF NIGERIAN TELECOMMUNICATION LIMITED (NITEL)

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

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

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 BANK SECURITY FOR 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 24 HOURS

CALL OUR  CUSTOMERS CARE  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 study is concerned with an investigation into fraud and financial malpractices as a leading factor in business failure and eventual liquidation.

A case study of Nigerian Telecommunication Limited (NITEL).

By way of background, the study commenced with an overview of the business environments and its effects on business growth and survival.

Using NITEL as a case study, it was established that inspite of its privatization, NITEL is still saddled with the problem of bad image arising mostly from fraudulent practices.

With the above stated problem, the specific objectives of the study were:

1. To ascertain why NITEL Plc is still saddled with problem.
2. To determine whether there is significant weakness in NITEL internal control system.

Data collected were analysed using weighted mean and ranking order.  Major findings of the study were:

(i)      The study revealed that the NITEL is unable to achieve its objective

(ii)     It was also revealed that fraud and financial malpractices was the most important factors that has contributed poor performance of NITEL.

 

At the end, the following recommendation were made:

(i)      NITEL management should design appropriate policies.

(ii)     The organisation should also strengthened its internal control system.

LIST OF TABLE

• Sample size determination and allocation of questionnaire
• Factors responsible for non-achievement of objectives by NITEL
• Factors responsible for fraudulent malpractices in NITEL
• Factors in effective internal control system in NITEL
• Impact assessment of factors in fraud elimination / minimization

 

 

TABLE OF CONTENTS

 

Title page                                                                                     ii

Approval page                                                                             iii

Dedication                                                                                   iv

Acknowledgement                                                                       v

Abstract                                                                                       vi

List of table                                                                                  viii

Table of content                                                                           ix

 

CHAPTER ONE

Introduction                                                                                 1

• Background of study 1
• Statement of problem 4
• The purpose of study 5
• Scope of study 6
• Research question 6
• Significance of the study 7

 

CHAPTER TWO

Review Of Literature                                                                   9

• Definition of distress/failures of a corporate 9
• Causes of business failure 12
• Summary of related reviewed literature 29

 

CHAPTER THREE

Research design and Methodology                                              30

• Research design 30
• Area of study 30
• Population of the study                     30
• Sample size and sampling procedure 31
• Instruments for data collection 34
• Validity of the instrument 34
• Reliability of the instrument 35
• Method of administration of the research instrument 35
• Method of data analysis 36

 

CHAPTER FOUR

Data Presentation And Results                                                     37

4.1     Research question 1                                                           37

4.2     Research question 2                                                           40

4.3     Research question 3                                                           42

4.4     Research question 4                                                           45

4.5     Summary of findings                                                         47

 

CHAPTER FIVE

Discussion Of Results, Conclusion, Implication Of Findings       49

• Discussion of findings 49
• Conclusions 51
• Implications of the study 52
• Recommendations 52
• Suggestions for further studies 53
• Limitation of the study 54

References                                                                         55

Appendix                                                                           57

CHAPTER ONE

INTRODUCATION

• BACKGROUND OF THE STUDY

Fraud is irregularities involving the use of criminal to obtain and against illegal advantage.

Fraud involving the manipulation of the record and the accounts, usually by the company’s senior officers, with a view to benefiting in some way from the false picture which they convey (eg obtaining finance under false pretences, or concealing a material worsten of the company’s true position)

Frauds, usually by employees, involving the theft, misappropriation or embezzlement of the company\s funds, usually in the form of cash, or of its other assets (such as good held in a warehouse).

Fraud and financial malpractices in many business involving the public sector organisation today contribute mostly to one of the factor that lead to business failure.

In all human endeavour and activities, there are usually stories of successes achievement and failures.

Business are therefore no exception initially, a motive for setting up a company is for economic reasons which are usually taken to be profit maximization objectives in period of booms as was experiences in the mid seventies during the oil boom; making business, including the public sector organizations, thieved in an era of abundance.

In such as era employment production and income were at their peak level and government expenditures at all levels rise considerably without any corresponding rise in productivity.

During this period also, no one complained and managers of our various businesses did not think of means of survival and sufferance.

Efficiency and effectiveness in the use of scare resources were never thought of and there were total absence of research control mechanisms.

Economic planners in such periods, makes unrealistic projections and assumptions they plan to build high ways, sky scrappers,  new state capital (or new cities), contracts were awarded induscomminately without the need for detailed cost benefit analysis.

In summary, the sky was the limit for businesses that have access to cheap credits, and investible funds.  In such periods, capital inadequacy, under utilization of production capacity, deficiency in aggregate demand for the firm’s product etc, were never heard of during the peak periods.

Contrary, when the hay days were over and the down turns take over the dooms day arrives and business failures becomes the order of the day as a result of adverse macro-economic policies and resulting adverse conditions.

Consequently, expansion is hindered for even the surviving firms.  This is the time when company executives/managers, government federal, state and local governments as well as individuals, remember to think of such phrases as viability, belt tightening profitability, growth and survival and better ways or resource planning, control and managements, it is a time when managers/directors of our business firms, public companies/corporations and other governmental organization now thinks of cost reduction and minimization of fraud and financial malpractices which has hitherto plunge such organisation into distressed conditions.

The adverse marco-economic conditions in Nigeria today has attained a dimension that can best be described as “crisis” level.  This had led to some drastic measures/programmes being initiated by the government to keep the nation afloat.

Such measures have come in different names at different times, ranging from the belt tightening of the Shagari administration through economic emergency order of the Buhari – regime to the structural adjustment programme (SAP).

As a result of these measures, firms and individuals have found themselves in extremely hard conditions to the extent that some have failed completely, other are stagnated and distressed.

What factors are specifically responsible for such state of affirms of the business firms?

This project is set out to investigate how fraud and financial malpractices can bring a highly profitable organizations into distressed and untimely liquidation.

 

• STATEMENT OF PROBLEMS

(1)     Inspite of the federal government in privatalsing the telecommunication industry, NITEL Plc is still saddled with the problem of bad image arising mostly from fraudulent malpractices by both management and staff of the company

(2)     INTERNAL CONTROL:  There are inherent weakness in the internal control system of NITEL Plc.

(3)     NIEL Plc management does not consider policy or fraudulent cases as strategic in its decision taking.

(4)     NITEL Plc has not met with the expectation of its investors as a practiced entity since its privatization.

 

1.3     PURPOSE OF THE STUDY

1.       To fund