BUDGETING: A SYSTEMATIC APPROACH TO PROFIT PLANNING AND CONTROL

(A CASE STUDY OF MOBILE TELECOMMUNICATION NETWORK NIGERIA LIMITED’ (MTN), ENUGU STATE)

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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

 

ABSTRACT

 

          Budgeting – A systematic approach to profit planning and control is a work centered on the use of budgeting as a tool for planning and control for profit maximization in a mobile telecommunication network Nigeria Limited Enugu as a case study.

The objective of the study is to show the importance of budgeting as a tool for systematic profit planning and control in the mobile telecommunication network Nigeria limited which has profit maximization as its principal objective.

The research is also aimed at identifying the steps adopted in the formulation of annual budget of MTN Nigeria.

Consequent upon this, the following hypothetical question were used for the study.

1. Managers use budgeting as a systematic approach to profit planning and control in attaining the goals of the business.
2. Decision making is performed in mobile telecommunication using budgeting
3. Utilization of resources is achieved with the use of budget and budgetary control

Following the investigation and analysis of data, the following findings were made

1. The organization uses budgeting in achieving the goals and objectives
2. The main objective of the organization is profit maximization
3. Efficiency and effectiveness of the organization is achieved through the use of budgeting.

From the findings, the conclusions were arrived that budgeting is very essential and indispensable tool for profit planning and control.  It helps management to be well structured in sustaining the growth and expansion of the organization.

 

 

 

 

 

 

TABLE OF CONTENT

CHAPTER ONE

1.0     Introduction                                                                       1

1.1     Historical Development of the Firm                                   4

1.2     Background of mobile Telecommunication                       5

Network Nigeria Limited/Present state of Affairs

1.3     Statement of problem                                                         8

1.4     Objective of the study                                                        8

1.5     Research Question                                                             9

1.6     Research Hypothesis                                                          10

1.7     Scope and limitation                                                          10

1.8     Significance of the study                                                   11

1.9     Definition of terms                                                            12

 

CHAPTER TWO

2.0     Literature review                                                                14

2.1     Introduction                                                                       14

2.2     Definition of budget                                                          15

2.3     Types of Budget                                                                17

2.4     The Budget period                                                             20

2.5     Administration of the Annual Budget                                21

2.6     Stages in the Budget process                                              24

2.7     Appraisal of fixed, flexible and other budget                     43

2.8     Planning function                                                              45

2.9     Controlling function                                                          46

2.10   Budgeting control                                                              50

2.11   Variance analysis                                                               51

• Additional Tool for Budgeting and Budgetary

control: Zero Base Budgeting (ZBB)                                 57

 

CHAPTER THREE

3.0     Research Design and methodology                                    58

3.1     Research design                                                                 58

3.2     sampling technique                                                            58

3.3     Sampling design and population size                                 58

3.4     Sources of data                                                                  60

3.5     Interview questions                                                            60

3.6     Method of data analysis                                                     60

 

CHAPTER FOUR

4.0     Presentation, Analysis and Interpretation of Data              63

4.1     Analysis of questionnaires returned                                   63

4.2     Hypothesis testing and proofing                                                  71

 

CHAPTER FIVE

5.0     Summary of findings recommendations and conclusion    77

• Summary of findings 77
• Recommendations 79
• Conclusion 80

Bibliography                                                                      81

Appendix                                                                           83

 

 

CHAPTER ONE

 

• INTRODUCTION

The growing complexity of the business environment and the ever increasing competition among firms in the modern time, make planning an invaluable tool for business success.  Successful management is no longer just a matter of flair, skill and determination, a conscious effort is needed to harness available resources towards the achievement of enterprise objectives.  Budgeting is one of the tools adopted by management for effective cost planning and control.

A budget is commonly understood  the forecast by a government, organization nor society of its expenditures and revenues for a specific period of time.  The  period covered  by a budget is usually a year known as financial year.  Budgeting is concerned with the utilization of financial resources to serve human needs.  Although a budget may be characterized by a series of goals with price tags attached.  It is mainly a mechanism for making choices among alternative expenditure.  When such are coordinated so as to achieve desired goals, the budget becomes a plan.  If there are specifications on how the goals are to be achieved, the budget becomes a psychological device to make administrators thin.  If however, the emphasis is placed on achieving the desired objective at the lowest possible cost, then the budget is an instrument for ensuring efficiency.

An enterprise which is effectively and efficiently managed produces good and rewarding result.  Management is efficient if it is able to accomplish the objectives with minimum efforts and costs.

Profit planning and control or budgeting is an integral part of management.  The financial manager has a particular interest in profits planning and control because he helps to regulate flows of funds which is his function.  The decision making process of management starts with planning.  ‘Planning is the design of a desired future and of effective ways of bringing it about.  In other words, planning involves the determination of the future course of action for accomplishing the objectives of the enterprise.  The basic purpose of planning is to provide guidelines for making decisions. It is a forward process to reducing uncertainty about the future.

Planning is a continuous process which would generally involve four fundamental steps.

1. Establishing the objectives
2. Determining the goals
3. Developing strategies
4. Formulating profits plans or budget.

Objectives are the statements of broad and long term desired state or position of the enterprise in the future. They are directional and motivational in nature and are generally the qualitative expressions of the desired future state.  For instance, the primary objective of an enterprise may be customers satisfaction, employee welfare, long-run- survival which depends upon the maximization of the long-run profit, that is wealth maximization.

Goals represent the operational specifications of the broad objective with time and quantity dimensions.  Goals are the quantified targets to be attained within a specific period e.g. long run profit maximization in order to increase the market value of the firm to shareholders is the broad objective of the firm.  But the goal for the next year may be to earn a 20% after tax profit on investment or a 5% profit on sales.

Strategies specify the ways of achieving the goal operationally.  For example, the strategies of a firm may include the use of retained earnings for expansion, keeping debt at a reasonable level, expanding sales through price reduction and aggressive advertisement.  Financial plans may take many forms, but any good plan must be related to the firm’s existing strength and weakness.  The strengths must understood, if they are to be used for proper advantage and the weakness must be recognized if corrective action is to be taken.

Finally, the formalization of objectives, goals and strategies for operational purposes is called the profit planning or budgeting.  It is called the profit plan or budget because it explicitly state the goals in terms of time expectations and expected financial results for each major segment of the entity.

 

1.1     HISTORICAL DEVELOPMENT OF THE FIRM

It is important at this point to review briefly the history of the company mobile telecommunication Network Nigeria Limited (MTN).  It was incorporated in Nigeria on November 8. 2000 as a private company.  It secured a license to operate digital (Global system for mobile telecommunications GSM) telephony on February 9 2001, from the Nigerian communications commission.  On May, 2001, MTN emerged as the first to make a call on its GSM network in the new dispensation. Thereafter, the company launched full commercial operations beginning with Lagos, Abuja and Port Harcourt in the company now provides coverage to 85 cities and well over 5,000 communities and villages, spanning every geo-political zone and 31 of Nigeria’s 36 states.

It is the first to erect a country wide microwave radio transmission backbone, offering unrivalled value for money evidenced by a loyal customer base attracted by MTN’s convenience, mobility, roaming on 30 international networks and economical Tarrifs.  MTN’s product and services are available at its friendship centres and a nationwide network of dealership, banks and convenience channels including entries, petrol stations and neighourhood stores.

 

• BACKGROUND OF MOBILE ELECOMMUNICATION NETWORK NIGERIA LIMITED/PRESENT STATE OF AFFAIRS

The company through systematic planning and control represents several millions of Nara in investment.  The company as at May 31, 2004, had a total of 21 mobile switching centres and over 940 radio base stations across the country. Several more are in the process of being installed.  On January 20, 2003, MTN commissioned the first phase of its digital microwave transmission backbone, Y’ello Balm.  Constructed  at a cost of $120 million.  Y’elloBalm is Africa’s most extensive transmission infrastructure and has significantly helped to enhance call quality on MTN’s network.  Y’ello Balm spans 3,400 kilometers and traverses over 120 cities, villages and communities; while coverage has been extent to more than 90 major towns and a total of over 5,000 villages and communities across Nigeria.  The second phase of Ye’llo Balm is currently on going and will spand another 4,500 kilometers.

MTN subsists on the core brand values of leadership, integrity, innovation, relationships and a ‘can do’ attitude, a passionate optimistic focus on the future.  It prides itself on its ability to make the impossible possible – connecting people with friends, family and opportunities.  The ownership structure is currently as follows:  Mobile telephone Networks International Limited 76.44%

Nigerian partners                       20.56%

International finance corporation and infrastructure investment arm of the world bank                      3%

100%

TECHNICAL ASSISTANCE/COMEMRCIAL SERVICE AGREEMENT

          The company is technically supported by Nami Tech in south Africa who doe the prepaid voucher and supplier to MTN.

COMPAY’S CONTRIBUTION TO NIGERIA ECONOMY

               MTN currently employs more than 1,200 Nigerians.  In addition, more than 160 Nigerian companies are currently MTN distribution partners.  Of these, more htan 25 are banks, many of which have spun off subsidia

Effective Implementation of Organizational Policies And  Procedures In Nigeria Business.

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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.

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MONEY BACK GUARANTEE

 

ABSTRACT

In all business  enterprise effective  implementation of organizational policies and procedure  is very important and can never be over emphasized and to achieve  this goal, target and objective is beckoned the design of managers  who do not sit there as a ceremonial heads rather they have role of implementing the organic functions of management in today’s dynamic and  competitive business environment in Nigeria.  This work is  design to expose and the  serious minded managers to be  adequately equipped to face the challenges ahead  as future management practitioner in big.  And when adequate implementation of  polices and  procedures is not there business worldwide will be greatly affected.  In generating data needed to achieve the objective of this study, cross-sectional survey was used.  Questionnaire was used as the major instrument for primary data  collection.  The broaden the researcher’s depth of  knowledge the study area the research embark on  review of related literature with data drawn from secondary sources.  Data generated in the study  was presented on frequency table and analyzed using percentages  while the hypothesis was tested with Z test.

It was found at the end of the research work that most organization get the best out of their work or reach to their option goal, target and objectives because of poor implementation of organizational policies  works are not allowed to join in decision-making that concerns them.

Finally effective organizational policies  and procedures must be more sensitive to customers and also in order to up grade the work-force with exquisite training and motivation so as to reunion a winner or achieve a set  objective which is the main target.

CHAPTER ONE    INTRODUCTION

1.1     Background of the study                                         1

• Statement of the problem 3
• Purpose of the study                                               4
• scope of the study 5
• research question 6
• research hypothesis 6
• significance of the study 7
• definition of term 8

references                                                                          10

 

CHAPTER – TWO          REVIEW OF RELATED LITERATURE

• Effective implementation of policies                       11
• Effective implementation of organizational functions 11
• Effective control of organizational policies 12
• Profile of first bank Nigeria Plc 15
• The managerial structure of F.B.N Plc 19

References                                                               25

 

CHAPTER –THREE       Research and Methodology

• Research design 59
• Population of the study 60
• Sample size and its determination 61
• Instrument for data collection 62
• Validation of the instrument 64
• Reliability of the instrument 64
• Method of data collection 65
• Method of data analysis 66

References                                                               67

 

CHAPTER – FOUR        Data Presenting And  Analysis

• Presentation and analysis of data 69
• Testing of hypothesis 76
• Summary of results 80

References                                                                         82

 

CHAPTER  –  FIVE         Discussion, Recommendation And Conclusion

• Discussion of Findings 88
• Conclusion 90

Bibliography                                                                      93

Questionnaire

 

 

 

 

 

 

 

 

 

 

 

CHAPTER ONE

1.1     GENERAL BACKGROUND OF THE STUDY

Effective  Implementation  of organizational policies and procedures  in Nigeria  business encourages delegation of decision-making to business managers who do  not sit there as a ceremonial needs rather they have the role of implementing the organic functions of management in today’s dynamic  and competitive business environment  in Nigeria.  This research  work  is design  to expose and  aid the serious minded managers to be adequately equipped to face the challenges ahead as future management parishioners in biz.  Good polices provides definite and clear direction by top management and at the same time allow subordinates to make their own decision with clearly stated  limits.  The  usual sources of policies and procedures  and it is pertinence to note that for a business to retain it position as a going –concern  entity, it is imperative that manager  formular policies plan, strategies  and also implement these plan  effectively for the  continued growth and  survival of the business enterprise.  This is a major aspect of a task facing  managers especially in a modern complex business situation.  Therefore, today’s managers must take into consideration the following measures for effective implementation of organizational policies and procedure in Nigeria business.

They must specifically take into account the forces and trend such as environmental, economic, political, sociological, psychological technological, legal  and ethnical  factors while formulating  the policies  than can facilitate the accomplishment of the overall objectives  and  goals  of the business  in question of course if a policy has been formulated but ha  not been carried out or implemented into action.  It cannot be  effective  since it has not come to the attention of the employees but it runs the risk of being overlooked or misinterpreted, but according to (Akpala, 1990: 59) he  said less prone to misunderstanding for effective  implementation  of organizational polices and procedures in Nigerian business to be properly executed the laid down  rules guiding the organization must follow.

Procedure on the other hand can be stated as the system that describes in details the step to be taken in order to accomplish a set objective in business which is the main target that heads to effective implementation of polices and  procedures emphasis more in  details while polices concentrate on the basic general approaches.  Policy is therefore  a guide for making decision.  Thus according to Kpala (1990:57) he simple define policy as a guideline to managerial actions, while Coventry and barker (1985:93) define policies as the guideline  laid down  in general or specific terms  to make organization to reach the expected target or objectives.

 

1.2     STATEMENT OF THE PROBLEM

This boil down to  what constitute the problem  on the study  of effective implementation of organizational polices and  procedure in Nigeria business cannot exist  on it own, it needs employers who will work in  implementing  those  policies needed for effective business  environment and all  these  will not take expected  standard unless workers are properly motivated  ie given them required training, internal and external  incentives their salary  may  even be increased, paying them over time and considering them as human  beings and not machines by so doing  the business  will be booming  since it is effectively  structured and implemented but if the  reverse is the case things will not be moving haphazardly and it will constitute a lot of problem to the study.

 

1.3          PURPOSE OF

EVALUATING THE EFFECTS ELECTRONIC DATA PROCESSING IN COMMUNITY BANK.  (A CASE STUDY OF EMENE COMMUNITY BANK ENUGU STATE)

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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

 

ABSTRACT

The banking sector has proved a very reliable tool in the development of the nation’s economy and also in the management of individual finances.  However, the distress in the banking system has drastically reduced public confidence and interest in the institution hence, community bank patronage continue to dwindle to a surprising point.

Under this negative development, the banks now rely greatly on the effectiveness of electronic data processing system for survival.

It is therefore, the scholarly need to examine the functional ability of electronic data processing system in community banks that prompted this topic.

For the purpose of this study, the researcher tacked this research work from the following perspectives.  In the first plane, the broad work was divided into five chapters.

The first chapter treated the background of study, the statement of problem, purpose of study significant of the study, including research hypothesis.

Furthermore, chapter four carried the data presentation and analysis, discussion and findings embodying the needs for the electronic data processing system.

Finally, the last chapter contained the conclusion, the necessary recommendations and of course, the areas for further research.

It is therefore evident data processing system in grass root, banking.  The study also showed that banks apply EDE techniques in their daily operations for enhance productivity.

 

 

CHAPTER ONE

1.0     Introduction                                                                       1

• Background of the study 1
• Statement of problem 2
• Purpose of study 3
• Significance of study 7

 

CHAPTER TWO

2.0     Literature review                                                                9

CHAPTER THREE

3.0     Research methodology                                                      19

• Areas of the study 20
• Population of study 20
• Sample and sampling technique 20
• Instrument of data collection 21
• Validity of instrument 22
• Reliability of the instrument 22
• Method of administration of the instrument 23
• Method of data analysis 23

 

CHAPTER FOUR

4.0     Data presentation and analysis                                           25

• Discussion of findings 45

 

CHAPTER FIVE

5.0     Summaries, conclusions and recommendation                   47

• Summary of Finding 47
• Conclusion and Recommendation 47

BIBLIOGRAPHY                                                             50

APPENDIX                                                                       54

   

CHAPTER ONE

INTRODUCTION

This chapter gives to the paper.  As we can get the insight from the paper preview/abstract, the paper treaties on the need for electrification or computerization of the Emene community bank (A community bank in Emene Enugu State).

Under this veil the paper will  present:

1. The background information or the historical background of the bank in question.
2. The general survey of the environment.
3. Coming to the area of the chapter preview, we discuss the nature of community bank in its entirely.

 

THE ADVENT OF COMMUNITY BANK IN NIGERIA

Without moving into details or digressing form the targets, community banking system is a novelty of the latest decade of the 20^th century.  The idea was affected with the establishment of the community bank implementation committee (CBIC) in 1990 under the authority of General Ibrahim Badamosi Babangida.

The committee issues licenses to community banks that led to its explosion as at now.  It is a variant of retail banking setting and can be owned by either a person or group of individuals within a locality state.

Accordinn to Ayara Ndiyo – university of Uyo, the community bank is a representative as well as a reflection of credit and thrift co-operative societies in Nigeria.  He said that many co-operative societies in Nigeria metamorphosed into banking setting with the advent of General Babangida license liberalization in 1991.

 

1.1     BACKGROUND OF THE STUDY

Background of Emene community bank.  This bank started in 1992.  they have individual shareholders, Emene development association and co-operate of shareholders like organisation establishment.  Rev. Father Ede is there chairman.

Without mixing words, the bank was established to give banking services to the door step of the populace such services as accepting of deposit, giving of credits save guiding of valuables and important documents, payment to creditor serving as a trustee to the community pursue, serving as referee in case of setting of commercial land and community related financial matters.

The advantages of the electronic data processing coupled with the universal banking and globalisation are myriads in nature and cannot be elicited hastily.  As a matter of reflection, the advantages of the electronic data processing system (EDPS) will be given in the chapter two of this work  piece having gotten historical backdrop of the setting in question, we are moving to the General survey of the Emene community bank – banking environment in its entirety.

 

1.2     STATEMENT OF PROBLEMS

There are clouds of doubts about the importance of electronic data processing. Many people are in support of this innovation in data processing while others trample on it.

In this bid, Harold Hill in his book  ”Computer Technology (1995-115), averred that the electronic data processing is a new discussion in data processing which is most labour-saving.

The work lends to test whether the other method of data processing meet the mileage of EDP.  Also it tries to check the chromic need of SDP in the grass root banking service (ie. The community bank).

In putting all we have said in a nutshell electronic data processing (EDP) system has some needs and mileages over other method of data processing of which this paper will x-ray the true fact concerning the clouds and doubts therein.

That is to say that the research study is concerned with evaluating the effect of the use of electronic data processing system in community banks.

Critically, the research will try to                 

A CRITICAL ANALYSIS ON FRAUD IN NIGERIA FINANCIAL INSTITUTION

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

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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