A STUDY OF THE IMPACT OF FINANCIAL DISTRESS ON NIGERIA COMMERCIAL BANKS

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ABSTRACT

This research work examined the “A study of impact of financial distress on Commercial Bank of Nigeria. It investigated the causes and characteristic of bank distress in Nigeria economy. It is believed that these problems that hinder smooth banking in commercial banks will be evaluated to ensure safe and sound banking system.
Many related literature were reviewed as the researchers collected data for this work in remote communities where banking. The effect of bank distress on the economy on the other hand included the erosion of public confidence mostly to the commercial banks.

TABLE OF CONTENTS

CHAPTER ONE
1.0 Introduction
1.1 Background of study
1.2 Statement of problems
1.3 Purpose of study
1.4 Research question
1.5 Significance of study
1.6 Delimitation scope and limitation
1.7 Definition of terms
CHAPTER TWO
2.0 Review of related literature
2.1 Meaning and characteristic of distress
2.2 Causes of bank distress in Nigeria

CHAPTER THREE
3.0 Research design and methodology
3.1 Sources of data
3.2 Location of data
3.3 Method of investigation

CHAPTER FOUR
4.0 Summary and findings

CHAPTER FIVE
5.0 Recommendation
5.1 Conclusion
5.2 Reference and bibliography

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF STUDY
A bank can be defined as an organisation whose principle operation is concerned with the accumulation of temporarily idle money of the general public from the purpose of advancing to others for expenditures.
John Paget defined a bank as “A corporation or person(s) who accepts money on current account pays cheques on such account on demand and collects cheques for customers”
Oxfords advanced learners dictionary defined a bank as an organisation or place that provides a financial service or a place where something is stored ready for use.
The establishment of modern banking in Nigeria dates back to the colonial era when the African banking corporation was formed in 1892 to distribute currency notes of bank of England for the British Treasury subsequent developments were encouraged by colonial trade. In the bid to address the credit needs of indigenous enterprenurs, Nigerian later ventured into the banking business, initially through private individual initiatives and later through deliberate government policy.
The problem of distress in the financial sector, including outright bank failure, has been observed in Nigeria as far back as 1930 when the First Bank failure was reported. Indeed, between 1930 and 1958 when the Central Bank of Nigeria was established, over 21 banks failure were recorded.
However, the degree of intensity and scope of the distress has never been as serious as had been observed since June 1989 when the government directive to withdraw deposits of government and other public sector institutions from bank to the CBN exposed the weak financial condition of most financial institution and the severity a problem has progressively increased.
The distressed condition has been traced to a wide range of causes, some of which are listed on literature review.
Eventually, when distress come into the scene, tears of loosing fund to the banks influenced negatively, in the commercial bank.

1.2 STATEMENT OF PROBLEMS
With the ware of distress spreading in the finance companies, community banks and primary mortgage institutions a total of 24 banks were distressed in 1993, as against to in 1992, 31 finance house were classified distressed while 118 were in default of matures obligation, 456 complaints against 156 finance companies for non resumption of mortared funds however, total assets on liabilities of 395 finance firms stood at N13.38 billion in 1993 as against N2.44 billion reported for the proceeding year (1992).
The situation was attributed to the followings:
1. Prevailing economic recession, policy induced stock poor and detonating assets quality arisin

FRAUD IN NIGERIAN BANKING SYSTEM

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Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

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ABSTRACT

This project with a paramount objective to finding dependable solution to the problems of fraud in Nigeria is justified by the need for true banking system in Nigeria, restoring the customers confidence in the bank just to mention but a few. The choice of African International bank ltd (ATB) as the case study wasn’t taken fortuitously but an obvious one due to its oldest, highest and growth, capacity and so ideas and experience pertaining to the topic.
Data for this research were collected many through the use of interview. Data collected were analyzed using the simple percentage method of analysis, more so, the chapter one of this work introduces the topic as well as the background, chapter two review the related literature review, chapter three touches the research design and methodology, Chapter four all about the findings discoveries, in chapter five I concluded as well as suggested some points the will and ½ further research.
TABLE OF CONTENT

CHAPTER ONE
1.0 INTRUDUCTION
1.1 BACKGROUND OF STUDY
1.2 STATEMENT OF PROBLEMS
1.3 PUROSE/OBJECTIVES OF THE STUDY
1.4 SIGNIFICANCE OF THE STUDY
1.5 LIMITATIONS OF THE STUDY

CHAPTER TWO
2.0 LITERATURE REVIEW
2.1 DEFINITION OF FRAUD
2.2 CAUSES OF FRAUD IN OUR FINANCIAL INSTITUTIONS
2.3 PERPERATORS OF BANK FRAUD
2.4 CONSEQUENCES OF FFRAUD
2.5 PROPOSED INVESTIGATION
2.6 TECHNIQUES OF FARUD CONTROL IN BANKS

CHAPTER THREE
3.0 RESEARCH DESIGN AND METROBIOLOGY
3.1 SOURCES OF DATA
3.2 LIXATION OF DATA
3.3 METHODS OF DATA COLLECTION

CHAPTER FOUR
4.0 FINDINGS

CHAPTER FIVE
5.0 RECOMMENDATION AND CONCLUSION
5.1 RECOMMENDATION
5.2 CONCLUSION
BIBLOGRAPHY.

CHAPTER ONE

INTRUDUCTION
1.1 BACKGROUND OF STUDY
The banking system in Nigeria from 1993 till data has been characterized by diverse mismanagement resorting from so many factors ranging from volume of capital to bank reserve in made of transaction, bankers/customer relationship and on the human factor frauds which have till date been threatening the corporate existence of the banking system in Nigeria (AKIN TNDE: 2002,P34).
‘Fraud as the subject matter of this project, is not a very helpful term, its essential meaning is “dishonesty” but generally fraud as also implies a measure of at least attempted concealments and certain an intention to gain on the part of the defrauder (Okeke: 200,P.1). Fraud is such wide spread corruption involving humorous and repeated acts that have characterized cased of public scandal. It is impossible to give definite fraud for the number of frauds perpetrated in the banking system. Most cases probably go undetected and those reported are often difficult to measure.
Fraudsters capitalize on certain loopholes in the banking system to manipulate figures thereby increasing fraudulent practices in Nigeria banking system. It is due to this increasing trends of frauds in the Nigeria banking system that has inspired us to undertake the study, that is
a) To identify the causes of frauds in Nigeria Banking System.
b) To point out the dangers of frauds to our economy.

1.2 STATEMENT OF PROBLEMS
Without mincing words, fraud is the problems. We shall see in the course of this work, the causes of fraudulent activities in the Nigeria banking system. Banking meaning the act of receiving, keeping and safeguarding money and other items of utmost security while fraud is an act of deceit of person(s) by person(s) in other to make money and the likes, illegally. Having understood these two key words, we shall now see some to the problems of fraud fraudulent activities in the highest order as regards our banking system

THE EFFECTIVENESS  OF FINANCIAL CONTROL IN PUBLIC SECTOR

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Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

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form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

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ABSTRACT
The project tilled the effectiveness of a financial control in the pubic sector is very special to the government units. Federal, state and local gout etc.
Filament funds are faced with a 1st of problems such as the difficulty in acquisition of funds as well as application of such funds so raised. The adaptation of weak system of accounting funds in the cash unit etc.
The first part of this project will deal with introductory part of the study historical back ground, it further highlighted the contributions of the federal misty to national economy as well the props and scope of this study.
Chapter two will show the nature and attributes of financial control, it’s utility in pubic sector.
Chapter three aims at how data were collected through secondary sources.
Chapter four deals with how data analyzed and presented through questionnaires, simple percentage was used. The hypothesis which assumption of excess expenditure and fraud being due to the altitude of vote controller was tested using percentage .chapter five, this is summary conduction and recommendation of the evaluations of the effectiveness of financial control in the pubic sector.

Chapter one introduction
1.1 Background of the study
1.2 Statement
1.3 Purpose / objective of the study
1.4 Significance of the study
1.5 Limitation of the study
1.6 De4finition of terms
Reference
Chapter two review of related literature
2.1 Historical background of financial control in Nigeria
2.2 Financial control in Nigeria public sector
2.3 The objective of financial control in the public sector
2.4 Control over delegation of ditties
2.5 Department vote expenditure and allocation book
2.6 The certificates
2.7 Economy
Chapter three
Research design and methodology
3.1 Source of data
3.2 Location of data
3.3 Method of data collection
Chapter four
Summary of finding
Chapter five
Recommendation and conclusion
5.1 Recommendation
5.2 Conclusion
Bibliography
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The management of financial resources in the pubic sector is the heart of government administration of financial manning and control in pubic sector.
Financial control can then be sera as the process, which assures that financial resources are obtained economically, and used effectively and effectively in the accomplishment of descried galas.
Thus of can be said to be an assurance process, which includes the process of decision – making.
In the blight of current economic problems in the country, the finical manners especially those in the pubic sector concerned with the financial control of the government funds are faced with a lot of problems, example include direct embezzlement, large scale salary frauds contract inflates.
Financial control also stresses on the acquisition of adequate funds as well as application of such funds so raised.
The researcher were mutilated to chose this topic decease of the necessity for the government to prevent and minimize fraud and embezzlement in the pubic sector through the proper book keeping of income and expenditure in pubic sector.
This study aims at the effective application of financial control vote expenditure and allocation books (DVEA)

1.2 STATEMENT PT THE PROBLES.
In the light of current economic problems in Nigeria, the financial planners especially those in the pubic sector concerned with the financial control of government fun with a lot of problems such as he inflation of contract prices payment of salaries to ghost workers payment of contractors for services not rendered and goods not applied, contractors and payment for unauthorized expenditures.
It is intended to see how effective the use of the DVEA book been a control tool for pubic sector accounting.
The amount of information than what could be found in the normal ledger used to record the double entry system of the pubic sector accounting.
It is intended that the information

AN APPRAISAL OF CAPITAL BUDGETING DECISIONS IN GOVERNMENT PARASTATALS

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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. 

Note:  We accept bank transfer, ATM cash transfer , Online payment using your ATM , Western union bank transfer.  We will respond to you anytime of the day. 

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

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

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

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CHAPTER ONE:
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
1.2 STATEMENT OF PROBLEM
1.3 OBJECTIVE OF STUDY
1.4 SIGNIFICANCE OF THE STUDY
1.5 THE SCOPE AND LIMITATIONS
1.6 OPERATIONAL DEFINITION OF TERMS
CHAPTER TWO:
2.0 LITERATURE REVIEW
2.1 THE CHARACTERISTICS OF CAPITAL EXPENDITURE
2.2 TYPES OF INVESTMENT DECISION
2.3 IMPORTACE OF CAPITAL EXPENDITURE
2.4 FORECAST/BUDGETING
2.5 OBJECTIVE OF BUDGETING
CHAPTER THREE:
3.0 RESEARCH METHODOLOGY
3.1 THE SECONDARY DATA
3.2 SAMPLING PROCEDURE
3.3 DATA COLLECTION METHOD
3.4 METHOD OF ANALYSES
CHAPTER FOUR:
4.0 FINDING
CHAPTER FIVE:
5.0 CONCLUSION AND RECOMMENDATION
5.1 BIBLIOGRAPHY

CHAPTER ONE
1.1 INTRODUCTION:
Capital budgeting decision in the most government parastatals is statutory instrument used to take decision in most organization like NNPC i.e. Nigerian National Petroleum Industry. This government parastatals helps in exploration of crude oil and natural gas and refining or processing of crude oil and natural gas to produce petroleum and produces and others denatures both for domestic consumption and for export. The expect of the corporations activities include transportation and distribution petroleum products throughout Nigeria and production of petrol-chemical to provide the needed raw material for rapid agricultural and industrial development of the country. They are also responsible for the supervision of the country activities of oil companies.
Since the year 1996, most of the oil companies has grown considerably. This is evident in its size and area of operation, which spanned through one length and breath of the country.
The other subsidiaries of government department engaged in activities of capital budgeting are; (1) Engineering Company of Nigeria (ENCON).
This is a joint venture enterprise between NNPC and Bethel, An American based multi national engineering and consulting company.
B. Nigerian Petroleum Development Company (NPDC): This is petroleum producing company of a group. It is wholly owned by Ngos. It is involved in exploration and production of crude oil and gas.
The mission of NNPC is to profitable operate and optimum size petroleum exploration and production.
Nigeria has development company limited NGDC it is also under the NNPC, its mission is to efficiently gather treat, transmit and market Nigeria Natural Gas and its bye-products to major industries and utility gas distribution companies in Nigeria. The other includes Integrated Data Service Company Limited (IDSC).

1.2 STATEMENT OF THE STUDY:
This study which is an appraisal of capital budgeting in government parastatals, is to find out how the various appraistatals appraise as capital budgeting decisions. For every organization, the usefulness of financial statement enhance decision making. Information provided should be current and meaningful.
The continuing inflation of recent year has led to an increasing awareness of some of the disadvantage of historical cost accounting. The following problems associated against the capital budgeting decision in government parastatals

THE COURSE OF THE COURSES AND EFFECTS OF MISMANAGEMENT IN THE FINANCIAL INSTITUTION AND THE POSSIBLE SOLUTIONS

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CHAPTER ONE:

1.1 The background of the study
1.2 Statement of problems
1.3 Objective of study
1.4 Significance of study
1.5 Limitation of study
1.6 Definition of terms
1.7 Reference

CHAPTER TWO:
2.1 Review related to literature
2.1 Courses of financial mismanagement in the financial institution
2.3 Unqualified accountant staff having the account book as a measure.
2.4 Inflation of the contracts
2.5 Perfect funding in the financial institution
2.6 God-fatherism
2.7 Poor loan recovery machinery
2.8 The effect of financial mismanagement in the financial institution.
2.9 effects on the staff

CHATER THREE:
3.1 Research methodology
3.2 Source of secondary data
3.3 Population sample
3.4 Instrument of data collection
3.5 Method of data analysis

CHAPTER FOUR:
4.1 Analysis of data presentation

CHAPTER FIVE:
5.0 Recommendation and conclusion
5.1 Recommendation
5.2 Conclusion
5.3 Summary of the findings
5.4 Biography

CHAPTER ONE

BACKGROUND OF THE STUDY
A financial institution is an organize body concern with the management of money. This to say that the institution is responsible for the lending and borrowing of money. In other word, it is the institution involved in financial intermediation where money is mobilized and is channeled from the public settings. Those who have surplus fund want to invest in productive activity. Some of this institution in Nigeria is the commercial bank, stock exchange market, merchant bank, CBN, insurance market and the development banks.

Mismanagement is defined by land man English dictionary version as control with private, public, or business affaire badly or unskillfully.
Mismanagement is also defined by Oxford English dictionary as mismanaged, improper administration to manage wrongly. The financial mismanagement according to the above definition may be improper administration, wrong uses of money, and inadequate collateral security of granting loan.
Misappropriation of money or management of finances unskillfully.

They are good in selling of security. They are sources of revenue to the government. They help the government extremely in the internal trade. They also provide a lot of advice to the government. To the public and private individual affairs. The bank grant loan on advance and make locally or outside Nigeria. In fact they performer a variety of function to safety the financial need of all the type of costumers form small personnel account holder to the big incorporated organization. That is by accepting of deposit, safe custody agency service etc.

The industry has gone beyond the optimistic of the period of years. The number of the expanded in five funds. The variety of the bank increase and promote the growth of industrial fraud due to the craze fore material wealth, inflating of contracts, God-fattherism, poor management and other bank matinee contribute extremely to the constant report of financial management in the financial institution. Even the marketer in this institution has been complaining that hunger and starvation have killed them due to the inability of the managers to pay their salaries. This has all happen due to misappropriation of fund meant for salaries.
Reporting of riot, workers unrest or strike of worker which brig a lot impact on the economy not function effectively. Something costumer in those institution accused there accountant manager of embezzling their money 1.e in lies in cooperative and commercial bank.
In this case, mismanagement result a great effect over many sectors of life of the above mentioned such as companies, individuals, workers and the economy as a whole. The tendency to embezzle and get rich quick mentality has continued down the line.
“The service act of financial institution in Nigeria”

Furthermore, mismanagement in the financial institution make then unable to tackle their problems and obligation like paying of task to the government, cash reserve rate, worker salaries giving out loan etc.

After the overthrown of the last civilians government in the country. Much financial institution made a lot of staggering discovery to fund misappropriation through inflated contracts, bribery and kick back etc.since then, the Nigeria economy has become a big body up till today.
Mismanagement in this financial institution has contributed to a large extent to the various draw-backs that inhibits the infrastructures growth in financial and non-available of loan and to the payment of salaries. This has also created a lot of imbalance to the government in the revenue generation. Therefore it is necessary that a research like this be carried out to fix the problems of mismanagement of bank of fund in our financial institution.

In Nigeria, financial institution is one of most important institution, which is responsible fore the countries economic growth. Without financial institution like banks, stock exchange market, insurance market, etc, Nigeria and other countries will find it very difficult to transact their business together.

Financial institution performs some duties to the country state and to the individuals. Due to this service rendered by these financial institutions, banking in Nigeria has gone through a very dramatic change within these decades. Some companies wound up till today. In fact, financial analyst put public fund misuse and those smuggled outside the country at several million of Naira.
Finally, the various officer mostly the manager and cashier of those institutions are accused of the abnormal. The research went into dept in finding out the true situation. Managers contributed the majority of the respondent used. Useful interview were concluded with the important officers to finally commission help to get the root of the problems.

STATEMENT OF THE PROBLEM

In this aspect, it well known facts that adequate management in the financial institution will enable them play their role as supposes and enable them archive their goal and objective. They are unable to perform their role in selling of security paying of tack, which is source of revenue for the government, help in the international trade etc. they thereby encounter some problem, which may be stated as follows;
 They are finding themselves unable to meet the costumers demand.
 There is persistence lose.
 They are having poor turnover.
 There is lack of trust by there customers in, as much they don’t invest in there firm anymore.
 Unable to abide by the set out laws especially the financial ordinance.
 Costumers withdraw

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