THE ROLE OF WORKING CAPTIAL MANAGEMENT IN PRIVATE SECTOR ESTABLISHMENTS

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ABSTRACT
This study was carried out to find the ectolency of banking activities with the problems of working capital management in private sector. The aim of this research work is to find out the relationship between the working capital and management and banking activities and the contribution of working capital to word banking activities in economy.

The location and limitation of the study was able to come up with the faces banking location improves trendously with the management. It is of great import once to both the ministries and the research.

Since it helps to find out whether the economy that is the working capital can go far with the help of computers. Like wise if helped to broache, the mind of the researcher on the problems that management specialist in banking can face in the course of working activities.

The literature review was compiled from the existing test books on computer and lecture notes, all from the school library and journal and newspapers.
CERTIFICATION
This is to certify that Miss Anekeoku Uzoamaka L. carried this research work in the department of banking and finance ND II in the Institute of Management and Technology (I.M.T) Enugu.

TABLE OF CONTENTS
CHAPTER ONE

Introduction
Background of the study
Statement of the problem
Objective of the study
Significant of the study
Limitation of the study

CHAPTER TWO

Review of the related literature

CHAPTER THREE

Research design and methodology

CHAPTER FOUR

Findings

CHAPTER FIVE

Recommendation and conclusion

References

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY
The sole objectives of any business in the private sector are to make profit but the uncertainty inherent in today’s economic environment threatens the survival of every business and makes sound liquidity and cash management. The local point for financial management rather than achievement of maximum profit, for sometime past the convention revenue accounts and balance sheet have been considered sufficient for the effective control of a business. The deeper study and increased analytical approach to business finance has red to an ever growing realization of the importance of working capital and its influence on the success or other wise of business operation.

Working capital management is concerned with the management of the various elements of working capital, which includes stocks, debtors, cash and creditors other components of working capital include short term securities, bills payable, prepayments and other current assets. However, working capital management has been variously defined but in a nutshell. It refers directly to planning organizing, financing and controlling of resource available to the business in order to achieve set of objectives or a definite goal.

L.R Howard put it this way; working capital may be regarded as the lifeblood of a business.

Its effective provision can do much to ensure the success of a business, while its inefficient management can lead not only to the loss of profit but also to the ultimate down fall of what other wise might be considered as a promissory concern.
It is certain that if skilled working capital management is not available in amount of finance provided will transform a financially weak company with mediocre performance into a strong and dynamic organization enjoying a scintillating regulation.
This research work is a crucial one in the sense that current asset by their very nature are changing daily if not hourly and management decision must be made.
1.1 STATEMENT OF THE PROBLEM

The management of inter-relationship existing between current assets and liabilities has been the primary problem of working capital management. Effective working capital management involves sourcing of fund for the management daily operations of the companies. Every company needs to maintain a satisfactory level of working capital or it would go into bankruptcy and finally wound up. However, profitability, liquidity and other related risks have been a major problem facing companies in private sector.
This is an important characteristic of working capital management. Maintaining a large size of positive side of the economy, but profitability would be adversely affected, as fund remains ideal.
Conversely, if company’s holding asset are relatively small, the overall profitability will not doubt increase, but this will have an adverse effect on the company’s overall performance, including its liquidity position and thus, making the company more risky.
Working capital management should therefore aim at striking a balance between the liquidity and profitability positions of the company by ensuring that right combinations of current assets and liabilities are held at cash

THE IMPACT OF BANK FAILURE IN NIGERIA ECONOMY
A CASE STUDY OF SAVANNAH BANK OF NIGERIA PLC

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CHAPTER ONE
1.0 Introduction 1
1.1 Background of the Study 1
1.2 Statement of Problem 4
1.3 Objective of the study 7
1.4 Significance of the Study 9
1.5 Research Questions 11
1.6 Formulation of Hypothesis 12
1.7 Scope and Limitations of the Study 12
1.8 Definition of Terms 14
Reference 17
CHAPTER TWO
2.0 Literature Review 18
2.1 Evolution of Banks Failure in Nigeria 25
2.2 Fraud in Banks- An overview 33
2.3 The poor management control system and Bank Failure 37
2.4 Tackling Bank failure in Nigeria 40
2.5 Savannah Bank of Nigeria PLC and the Banking
Regulatory umpire: The seizure of operating license 45
2.6 Future prospects of Banking business in Nigeria 51
2.7 Summary of Literature Review. 55
Reference 56
CHAPTER THREE
3.0 Research Methodology 58
3.1 Research Design 59
3.2 Area of Study 60
3.3 Population of Study 62
3.4 Sample and Sampling procedure 63
3.5 Instruments for Data collection 68
(a) Primary sources 68
(b) Secondary sources 69
3.6 Methods of Administration of Research Instrument 69
3.7 Methods of Data Analysis 70
3.8 Reliability and Validity Tests 72
CHAPTER FOUR
4.0 Data Presentation and Analysis 73
4.1 Data Presentation 73
4.2 Data Analysis and Interpretation 74
4.3 Test of Hypothesis 89
Reference 97
CHAPTER FIVE
5.0 Summary of Findings, Conclusions and Recommendations 99
5.1 Summary of Findings and their Implications 100
5.2 Conclusions 106
5.3 Recommendations 108
Bibliography 113

ABSTRACT

The aim of this research study is to analyze and ascertain the extent to which fraud and poor management contributed to bank failure through a careful analysis of banking industry with a particular reference to the presently embattled Savannah Bank of Nigeria Plc. whose operating license was recently revoked.
Chapter one examined the historical development of banking in Nigeria, recognizing the catalytic roles of the business of banking in the economy, together with other introductory analysis on the extent of bank failure and fraud and their effect on the development of banking business in Nigeria.
In chapter two, an overview of bank failure in Nigeria economy was made. Emphasis were laid on their genesis, caused (fraud and poor management), control issues involved in bank failure management. Particular attention was drawn on the impact of banking business in the overall development of the people, and economy and the implications of its failure. The controversy surrounding the revocation of the operating license of Savannah Bank Plc and the prospects of banking business were also treated.
In chapter three, the research narrated how the various data for this study were collected and which informations were used with a view to realizing the objectives of the study.
In chapter four, tables of percentages were used to present and analyze the data collected and which information were used with a new to realizing the objective of the study.
In chapter four, tables of percentages were used to present in analyze the data collected while chi-square method was used to test the postulated hypothesis.
Finally, in chapter five, a critical analysis of the research study revealed that bank failure in Nigeria are attributable principally to fraud, poor management team and adverse economic conditions among other institutional and non- institutional factors. However, it was recommended among other things that due to the peculiar and strategic position of the banking industries and their synergistic effects of change arising. Therefore government should closely monitor the activities of bands through their agencies/regulatory authorities without necessarily politicizing their mandate Banks should equally strengthen their internal control measure. Moreover, if the regulatory authority saddle with the responsibility of managing industry keep an eagle in the industry’s activities, it will stem the tide to bank meddling with the fortunes of depositors shareholders and other interested parties and forth overall benefit of the economy. This is in view of the catalytic role of banking business in the economic confidence in the banking public. Further research on very relevant linked area of the research topic was also suggested by the research. This is in view of the dynamism, and inexhaustibility of the topic of study.
CHAPTER ONE

1.0 INTRODUCTION:
1.1 BACKGROUND OF THE STUDY
One of the indices for measuring the development of an economy is the size, maturity and safety of its banking industry. This is because the banking industry plays a very important role in the mobilization and utilization of investible resources (financial) in the economy. It acts as the intermediary units of the country through a process of “financial inter-mediation”. The absence of a market for which can greatly reduce the growth of economic activities; its business activities are catalysts for economic development.
The Nigeria banking industry at the movement appears to be the verge of collapse. The banking public seems to have cost confidence in banking and chances are that this erosion of confidence may not be reversed unless the regulatory agencies. The central Bank of Nigeria (CBN) and the Nigerian Deposit Insurance Corporation (NDIC) rise up to the challenge.
It was the belief by the government that the banking crisis of the 1990s was caused mainly by fraud that to the promulgation of the failed banks (Recovery of Debts) and financial malpractice’s in Banks Decree Number 18 of 1994 (failed banks Decree). It is however difficult to justify the draconian nature of the failed bank Decree and its implicit assumption that fraud was a major cause of the banking crisis licenses withdrawn by the C.B.N ON account of sharp practices. In other words while it is true that the monumental growth in the number o registered banks may have led to increased fraud, it is unlikely that it was the sole cause of the subsequent banking failures. There is no doubt that fraud has exasperated a desperate situation in the Nigeria Banking sectors. Fraud and embezzlement are not widespread. Both the government and the central Bank are unturned in the fraud and crises jamboree. Furthermore, fraud in itself may not be a sufficient condition for a banking crisis. The researcher submits that extremely bad management may not prove fatal to a bank until adverse economic conditions led to unexpected capital outflows or loan losses. Thus even if every bank which failed is judged to have suffered from mismanagement or fraud, or operated in a over populated banking market, it may well be the case that adverse economic conditions will be the proximate causes of many bank failure.
The NDIC implicitly agree with the above submission in a circular dealing party with current banking crises in Nigeria. It concluded, “the revival of the banking system would entail strong political will that should allow for the adoption of the appropriate failure resolution option, based on the technical judgment of the regulators. Finally and most importantly, a successful restructuring of the banking system would entail a stable macro-economic environment with little relative price distortions that would ensure a sustainable growth for the economy”. Macro economic instability in itself fuels fraud. If the future is perceived as uncertain for instance, persons are more likely to get desperate the perpetrate fraud. It should also be noted that general economic stress is not limited to the banking sector. Inconsistent government policies, high inflation, and the ever depreciating local currency have made planning impossible across most economic sectors further entrenching stress. The economic and social policies of government therefore play a prime role in the promotion of a stable business environment in all economic sectors, including banking. The policy actions that can effectively tackle bank failure in Nigeria must therefore look beyond the banks.
It is the researcher’s submission that in addition to its traditional role of financial inter-mediation, the Nigeria Banking industry has a major role to play in the development of the Nigerian economy. Thus necessitating this research work for purposes of this study, the term banks failure and bank distresses are to be used inter-changeably.

1.2 STATEMENT OF THE PROBLEM
In recent years, the volume and frequency of crises in the Nigerian banking industry has been on the increase. According to NDIC, the level of reported fraud in Nigeria banks rose from N804m in 1990, N3, 199m involved in fraud rose from 3 percent in 1990 to 22 percent in 1998. Perhaps the highest fraud ever reported in any particular year by a Nigeria bank occurred in 1998 when united Bank for African Plc wrote off N786m on account of fraud. One would be tempted to consider the inquisitive mind as to necessity, and indeed imperativeness of the banking industry in Nigeria economic developments/Empowerment as partner in progress. Could Nigeria not have continued to do without these banks, as in fact she had done prior to their advent?
Other prob

BANK DISTRESS: A CRITICAL REVIEW OF THE COURSES AND POSSIBLE CONTROL IN THE NIGERIAN BANKING INDUSTRY
(A CASE STUDY OF N.D.I.C ENUGU)

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ABSTRACT
Bank distress in Nigeria has reached a crisis point that it has become a key issue for discussion of all within and outside the banking industry.
It is undoubtedly one of the biggest and most serious issues facing our society today.
In 1993, it was discovered and reported that out of 116 (one hundred and sixteen) banks in Nigeria 57 (fifty seven) of them were distressed on average of 48%. This has affected the depositions, the industry, that is the banking industry, government and staff of the affected banks adversely.
OBJECTIVES
The researcher understand that the distress in the Nigerian banking industry and the increasing wave of financial malpractice in banks if not arrested will lead to the collapse of the Nigerian economy. In this regard, an attempt have been made to identify the possible pills for the total eradication of at least control of these distress in order to reduced the negative impact on the economy.
METHODOLOGY
The method of investigation used by the researcher is based on the analyses the experience of the Nigeria regulatory authorities that is the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) and success so far achieved like questionnaire and interviews.
FINDINGS
No study known to the researcher has been conducted which directly focuses on control of banks distress in Nigeria. Probably that is because it is a new phenomena in the Nigeria banking industry.
However, banks found and other financial malpractices have become so pervasive that both the government supervisory authorities and the law enforcement agencies have galvanized efforts to forestall the menace.
CONCLUSION
The feelings generally expressed have been for decisive steps to be taken to salvage the banking industry. Bank distress has to be reduced to the bearest minimum for a healthy economy to thrive in Nigeria.
These steps are discussed in this research work.

TABLE OF CONTENTS
CHAPTER ONE:
Introduction 1
1.1 Background of the Study 1
1.2 Statement of the Problem 3
1.3 Objective of the Study 5
1.4 Research Questions 6
1.5 Research Hypothesis 6
1.6 Scope and Limitation 7
1.7 Significance of the Study 8
1.8 Definition of Terms 9
References 10
CHAPTER TWO
2.0 Review of Related Literature 11
2.1 Definitions 12
2.2 Causes of Bank Distress 12
2.3 Techniques for Identifying
Potentially Distress Banks 20
2.4 Common Features Used in Identifying
Potentially Distressed Banks 21
2.5 Common Features Used in Identifying
Technically Insolvent or Distressed Banks 28
2.6 Control of Bank Distressed in Nigeria 29
References 40
CHAPTER THREE
3.0 Research Design and Methodology 42
3.1 Research Design 42
3.2 Area of Study 43
3.3 Population 43
3.4 Sample and Sampling Techniques 43
3.5 Instruments of Data Collection 45
3.6 Methods of Data Presentation 45
3.7 Methods of Data Analysis 47
References 48
CHAPTER FOUR
4.1 Data Presentation and Analysis 49
4.2 Test of Hypothesis 59
CHAPTER FIVE:
Findings, Summary, Recommendations and Conclusion 64
5.1 Findings and Summary 64
5.2 Recommendation 66
5.3 Conclusion 69
References 71
Bibliography 72

CHAPTER ONE

INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In the past financial report of commercial and merchant bank showed that they usually carried out excess liquidity. But by the end of 1993, the huge excess liquidity disappeared. The minimum required liquidity ratio was 30%s Nwaigwe K. O. (1995).
In later years, the ratio deteriorated, it was claimed that the issuance of stabilization securities contributed to the above.
Also another development which the researcher was informed about is the fact that a good number of issued bank were grossly under capitalized. To worsen the case, non-performing loan and advances eroded the inadequate capital base since the banks were compelled to make adequate provision for the non-performing credit.
The indemnity also experienced poor management which eventually opened the floodgate for distress to surface in the system. Poor management of the assets and liabilities of the bank was one of the major causes of the distress in banking industry today. The jungle politics also helped to deteriorate the economy because survey shows a consistent down-turn and the effect the banking industry adversely.
Also, given excessive risk taking by some banks management in a competitive environment and the prevalence of frauds and forgeries in the system, the evil seed for bank distress was sown awaiting germination and harvesting.
However, in 1998, the federal government of Nigeria (FGN) as if in anticipation of the above ugly development had created a Deposit Insurance Scheme managed by Nigeria Deposit Insurance Corporation was created by Sec. 39 and 40 of Dec. 22 of 1998 to restore confidence and security of the public in the banking system to control and manage the distress banks thereby ensure a safe and sound banking system in Nigeria.
It was against background that the researcher resolved to carryout an appraisal of attempting the proffer workable solutions to the problems of the distress.

1.2 STATEMENT OF THE PROBLEM
A distress bank is one whose performance has persistently not confirmed favourably with established parameter for gauging the financial conditions of banks and also when the bank becomes illiquid or insolvent Nwaigwe K. O. (1995).
Insolvent means when the bank can not meet its current obligation as at when due. On the other hand, a bank is confided insolvent when the total value of its realization assets is less than the banks total liabilities. And also it has a negative net worth.
However, the rate of distress varies from one bank to another and that is based on the degree of insolvency and liquidity. At this juncture, it is important to note that the regulatory authority (NDIC) use the composite rating “CAMEL” parameters to assess the performance and financial position of banks.
Base on this rating, the banks that are classified unsound has the following characteristics:-
(1) Compute sweeping away of shareholders funds are due to operating loss of its assets.
(2) High ratio of non-performing loans, relative to total loans.
(3) Weak internal control system.
(4) Poor management information system

THE ROLE OF ELECTRONIC BANKING IN NIGERIA

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ABSTRACT

This Project goes into the Roles of Electronic Banking in Nigeria, the supervisory framework. The security for the money, the component of the Electronic Banking, finding and recommendation for future uses.

It is of a great importance to the students of Financial and Business Studies and those in economics. It is a very important to business consultants and investors.

TABLE OF CONTENT
CHAPTER ONE

Introduction
Background of the Study
Statement of the Problem
Objective of the Study
Significant of the Study
Limitation of the Study

CHAPTER TWO

Review of Related Literature

CHAPTER THREE

Research Design and Methodology
CHAPTER FOUR

Findings

CHAPTER FIVE

Recommendation and Conclusion
REFERENCES
CHAPTER ONE

INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The advent of financial innovation such as credit cards, smarts cards, electronic transfers in the payment system and more recently, the linking of the Internet banking have transformed the world into a global village linked with electronic impulses. The concept of electronic money was introduced in 1996 when the Central Bank of Nigeria gave approval to All States Trust bank Limited to offer a financial product known as the ESCA, SMART CARD, an electronic purse.

Subsequently, diamond bank limited introduced a parallel product known as diamond pay card. However, the smart card scheme received a boast in February 1998, when a consortium of 19 licensed banks allocated a smart card company, smart card Nigeria Plc with a mandate to produce a manage cards issued by the member banks of the consortium. Another consortium of more than 20 banks under the auspices of gem card scheme in year the 2000.

These innovations, which are still at a relatively early stage of development have the potential to challenge the predominant role of cash for making small value payments and makes retail transactions easier and cheaper for consumer and merchants, who are current account holders. However, they also raise a number of policy issues because of the possible implication for central bank monetary policy, consumer system.

In response to information technology development in the domestic financial sector, the central bank of Nigeria commissioned an information technology strategy study in 1991 with the objective of promoting the efficient performance of its statutory duties. The project is being implemented in phases and both the licensed banks and the regulatory authorities demonstrated the appreciation of benefits derivable from use of information technology.

In view of foregoing, the central bank governors of the group of ten (G-10) countries commissioned a series of studied on specific issues related to electronic money in November 1995.
1.2 STATEMENT OF THE PROBLEM
This research work is to address itself on the task to determine the impact of electronic banking in Nigeria.

(a) In this era of expanded information technology activities around Nigeria electronic banking is more than ever needed.

(b) Inadequate information technology awareness

(c) Show-paced information and communications technology growth in Nigeria due to inadequate finding by government and its agencies.

(d) Inactive regulatory bodies to provide needed logistics and technical support.

(e) Lack of sufficient skilled manpower.

(f) The confid

EFFECTIVE MANAGEMENT OF NIGERIAN EXTERNAL RESERVES

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ABSTRACT
This term paper goes into the analysis of the external reserves position in Nigeria it embodies the previous problems, current problems and future recommendation.
It is of a great importance to the students of financial and business studies and those in economics. It is also a very important to business consultants and investors.
To say the truth it is very important to Nigerian government and to the entire Nigerian cannot be over emphasized, as a result, the effective management of Nigeria external reserves stands the chance of ascertaining the Nigerian economy and compare into to that of other countries. In addition the management of Nigerian external reserve attracts a lot of public interests. This is so because unexpected cheques in the welfare of the common man. A good example was the oil exhortation and boom period, and as a result of this Nigeria not over herself in reckless flirtation with the new sources of easy money and the nation has all but was destroyed by arrogant and it is advice to the people that depend on oil further more the measure taken by the nation; there is concept evidence that the spending pattern of our people have rationalized to an extent and agriculture, cash crop production are once more assuming their abandoned roles.
Nigerian are now motivated toward the goals of self-sufficiency, and the export incentive recently released by federal government of Nigerian will do doubt encourage manufacture’s to exploit foreign markets to the benefits of our external reserves.
TABLE OF CONTENTS
Chapter One
Introduction 1
1.1 Background of the Study 2
1.2 Statement of Problem 3
1.3 Objective of the Study 4
1.4 Significance of the Study 5
1.5 Limitations of the Study 6
Chapter Two
2.1 Review of Related Literature 7
Chapter Three
3.1 Research Design and Methodology 8
3.2 Sources of Data 9
3.3 Location of Data 10
3.4 Methods of Data Collection 11
Chapter Four
4.1 Findings 12
Chapter Five
5.1 Recommendation and Conclusion 13
Bibliography
CHAPTER ONE
Introduction:
1.1 Background of the Study:
This term paper goes into the analysis of the external reserves position in Nigerian. It embodies the previous problems currents problems and future recommendation. Its of a great important to the student of financial and business studies and those in economics. It is also important to business consultants and investors.
To be Frank, the important to Nigerian and government stand to the entire Nigerian cannot be over emphasized which stand the chance of ascertaining the Nigerian economy and its external reserves position appropriately. In addition, the management of external reserves of Nigeria attracts a lot of public interest. This is so because unexpected changes in external reserve positions generally effects the welfare of the common man. A good example was the oil exploration and boom period, and the Nigerian shot over herself in reckless flirtation with the new sources of easy money and nation has all but was destroyed by arrogant and selfish political hyphens, our hitherto sources of export and foreign exchange were abandon because of the interest rested on the money generated from oil.
But as a result of all these, Nigerian started importing those food items, which we had hitherto been known for and had constituted to the world’s largest exporters. The face in world oil price over the years caught this country unaware and off balance.
It therefore revealed to what extent we had mismanaged our external reserved. And the nation’s economy was abused by improvident, various incompetent and corrupt regimes who saw leadership as a means to privates good and self-enrichment. Nigerian discovered that value has nothing to tall back on, in absence of petroleum as the nation was wholly depends on money generated from crude oil.
But in essence we must thank the present administration for trying to find out when we left the track of sanity and economics balance and its advice to the nation there is concrete evidence that the spending pattern of our people have rationalized to an extent and agriculture, each crop production are once more assuming their abandoned role Nigerian are now motivates towards the goals of self sufficient, and the export incentive recently released by federal government of Nigerian, will no doubt encourage manufactures to exploits foreign markets to the benefits our external reserves.

1.2 Statement of Problem:
This research work is to address itself on the task to determine the effective Management of Nigerian external reserves under section 25 of the Central Bank of Nigerian Act, 1959, as amended, the Central Bank is required to hold and maintain the country’s foreign exchange reserves inform of the following card combination there to:
(i) Gold coins and bullions.
(ii) Foreign bank balance in convertible currency.
(iii) Foreign bills of exchange in convertible currency.
(iv) Se