ABSTRACT
This work discusses the impact of mortgage banking in Nigerians economic development programmes. A hundred and twenty questionnaires were shared amongst people from selected regions in Nigeria. Interviews and surveys were also conducted.
Primary and secondary data were used the analysis. Both frequency distribution and regression analysis were used.
It was observed therefore that mortgage banking has a significant positive impact on Nigerians economic development programmes. Also, there is a positive relationship between mortgage banking and Nigerians economic development programmes.
TABLE OF CONTENT:
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Research Problem
1.3 Objectives of the Study
1.4 Significance of the Study
1.5 Research Questions
1.6 Research Hypothesis
1.7 Conceptual and Operational Definition
1.8 Assumptions
1.9 Limitations of the Study
CHAPTER TWO
LITERATURE REVIEW
2.1 Sources of Literature
2.2 The Review
2.3 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Research Method
3.2 Research Design
3.3 Research Sample
3.4 Measuring Instrument
3.5 Data Collection
3.6 Data Analysis
3.7 Expected Result
CHAPTER FOUR
DATA ANALYSIS AND RESULTS
4.1 Data Analysis
4.2 Results
4.3 Discussion
CHAPTER FIVE
SUMMARY AND RECOMMENDATIONS
5.1 Summary
5.2 Recommendations for Further Study
Bibliography
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Tags: THE IMPACT OF MORTGAGE BANKING IN NIGERIANS ECONOMIC DEVELOPMENT PROGRAMMES
CHAPTER ONE
INTRODUCTION
1.1 THE PROBLEM AND ITS SETTING
Every industry operates within two sets of constraints. Internal constraints are those problems within the organization and over which the enterprise has reasonable amount of control. Personnel problem, capacity utilization and the techniques or process of production are some of such factors.
External factors could pose formidable problems to an enterprise. The problems are made more severe by the fact that these problems are caused by factors outside the competence of a given enterprise to control. Examples of such factors are government regulation, traditional or cultural values etc.
The bakery industry in Nigeria has been a victim of externally imposed constraint. Hitherto, bakers depended on local millers who produced their vital raw materials, flour from imported wheat. Government banned the importation of wheat and wheat product in 1986, thereby, sending shock waves to this very well established and expanding industry. Wheat products has started to consume an unacceptable amount of the nation’s foreign exchange as the table 1.1.1 below clearly demonstrates, as well as figure 1.1.1 in page 3.
Table 1.1.1 Foreign Exchange Spent on Wheat and Food Import 1981 – 1985
Import 1981 1982 1983 1984 1985
N,000 N,000 N,000 N,000 N,000
Total food 1,820,215 1,642,245 1,296,714 843,246 946,567
Wheat 159,422 79,629 255,717 243,067 327,870
C/o of total 9% 5% 20% 29% 35%`
Source: Federal Office of Statistics, Lagos
Given the above circumstances, there was a clear need for government action to check the outflow of the nation’s declining foreign exchange earnings through what important.
Besides, it can also be argued that there were suitable local substitutes of wheat flour for bread baking; rice, cassava, maize and sorghum have been mentioned as such suitable substitutes. To some people these substitutes were at least as good as wheat as it
FIGURE 1.1.1
FOREIGN EXCHANGE SPENT ON WHEAT AND FOOD IMPORT
1981 – 1985
Source: Federal Office of Statistics, Lagos
was suggested that local bakers rejecting them were doing so our of ignorance, or out of a slavish preference for imported products or whether one accepts the above arguments or not, what has become clear is that the effect of the ban on the importation of wheat was swift devastating on the bakery industry.
In Enugu Urban alone, some famous baking houses closed up. Nigerline bakery, St Georges Bakery, many bakeries and Mother’s Pride Bakery all shut down between the middle of 1986 and the end of 1987. As at the time of starting this project, not every Bakery has resumed operations.
A far more reaching effect on this ban on the industry as a whole is that it has quite clearly changes the eating habits of many Nigerians.
Ubiquitous bread on the breakfast table has vanished and the frequent sight of peoples snacking on bread in the afternoon has also disappeared.
The primary demand for bread products in this country has certainly contracted since then.
1.2 STATEMENT OF THE PROBLEM
Such is the background for this study. Most baking houses are small scale business who face the task of devising survival strategies to deal with major changes in government policy that threaten their very existence.
Our focus is on suitable survival strategies for the banking industry given their operating circumstances since 1986. We are interested in finding out how those who are still in business dealt with the new condition in which they found themselves. In particular, we will be looking at the organizational changes, financial management strategies, and other operating techniques that they had to adopt in order to survive.
As for the baking houses that closed down, we shall explore whether there were forces other that the ban on imported wheat that engendered their demise. The study will cover a broad section of the bakeries in Enugu urban. See Appendix A.
1.3 OBJECTIVES OF THE STUDY
In general, the study hopes to take a close look at the baking houses in Enuguu urban since 1986. Specifically it is intended to find out the following:
(a) What changes have those who continue to operate made in their structure and method of operation in order to cope with the ban?
(b) What new financial arrangement have they made following rising production cost resulting from the ban?
(c) Have they coped with the sourcing of raw materials?
(d) What new challenges they now face three years after the ban or import flour?
For completeness, it is also necessary to examine the cases of those baking houses that were found to have closed down as a result of the ban. Although there may be problems obtaining information from some of these outfits, whose operating records may no longer be available, an effort would be made to access the general operating state of such baking houses before the ban. This should enable one determine whether such baking houses were already having serious operating difficulties before the ban or whether their extinction is to be blamed on the ban.
1.4 SIGNIFICANCE OF THE STUDY
This study should be of considerable interest to policy makers in government, to the bakers and distributors of bread products and consumers and to the public at large. The study hopefully, will give government some documented information on the effect of the major policy changes introduced in 1986. The information should enable government to establish what new measures need to be taken as well as provide some basis of determining in advance, the likely consequences of similar measures in future.
Bakers should use the study to understand fully the impact of the changes on their industry. The study will highlight how they have fared; the successful ones will see what it was that enabled them weather the consequences of the ban on wheat importation. Those who failed to do and indeed why they have ceased to be in business. In the end, the industry will be better placed to cope better with similar situations in the future.
The researcher’s understanding on the challenges and the survival strategies of small scale industries will be greatly impacted.
The bread consumers, through this work, shall gain first hand information of the difficulties the bakers go through to provide them with the bread they love to eat. They will better appreciate the need to pay a little more for this product.
The general reader will equally find the work a useful contribution to knowledge.
1.5 HYPOTHESIS
In this study, the following hypothesis have been formulated:
1. The ban on wheat importation did not cause any significant changes in the methods of operation of bakeries.
2. New challenges faced by bakers are not as a result of ban on importation of wheat and its products.
3. The sources of raw materials for bakeries remained unchanged after the ban on wheat importation.
4. New financial arrangement are made by bakers are not as a result of the increase in costs of wheat flour.
5. The ban on wheat importation did not cause the demise of a significant number of bakeries.
1.6 SCOPE OF THE STUDY
The emphasis of this study is on small scale bakeries in Enugu Urban. The study intends specifically to investigate the impact of ban on wheat importation on bakeries and the strategies adopted by them to survive.
1.7 LIMITATION OF THE STUDY
This study was constrained by many factors among which were time, funds, and the unco-operative attitude of some respondents.
The researcher found the study very time demanding in data collection and production. Often the researcher is rebuked for being absent from work in process of carrying out the study. Owing to the pressure of work, more intensive and extensive investigation could not be carried out.
Some respondents were unwilling to complete the questionnaire, some others completed their own reluctantly.
The study turned out to be very expensive on purchase of materials, field work and production.
HOW TO GET THE FULL PROJECT WORK
PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).
HOW TO RECEIVE PROJECT MATERIAL(S)
After paying the appropriate amount (#10000) into our bank Account below, send the following information to
08139462710 or 08137701720
(1) Your project topics
(2) Email Address
(3) Payment Name
(4) Teller Number
We will send your material(s) immediately we receive bank alert
BANK ACCOUNTS
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 0046579864
Bank: GTBank.
OR
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 2023350498
Bank: UBA.
HOW TO IDENTIFY SCAM/FRAUD
As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.
But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.
Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.
No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner
CAUTION/WARNING
Please, DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials are to assist, direct you during your project. Study the materials carefully and use the information in them to develop your own new copy. Copying these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational standard, and we will not be held responsible for it. If you must copy word-to-word please do not order/buy.
That you ordered this material shows you have agreed not to copy word-to-word.
FOR MORE INFORMATION, CALL:
08139462710 or 08137701720
YOU CAN ALSO CALL:
08068231953, 08168759420
Visit any of our project websites below:
www.easyprojectmaterials.com
www.easyprojectmaterials.com.ng
www.easyprojectmaterial.net
www.easyprojectmaterial.net.ng
www.easyprojectsolutions.com
www.worldofnolimit.com
www.worldofnolimit.com
www.nairaproject.com.ng
www.nairaprojects.com.ng
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www.nairaprojects.net
www.uniproject.com.ng
www.uniprojects.com.ng
Tags: THE IMPACT OF SURVIVAL STRATEGIES OF THE BANKING INDUSTRY
CHAPTER ONE
INTRODUCTION
1.1 THE PROBLEM AND ITS SETTING
Every industry operates within two sets of constraints. Internal constraints are those problems within the organization and over which the enterprise has reasonable amount of control. Personnel problem, capacity utilization and the techniques or process of production are some of such factors.
External factors could pose formidable problems to an enterprise. The problems are made more severe by the fact that these problems are caused by factors outside the competence of a given enterprise to control. Examples of such factors are government regulation, traditional or cultural values etc.
The bakery industry in Nigeria has been a victim of externally imposed constraint. Hitherto, bakers depended on local millers who produced their vital raw materials, flour from imported wheat. Government banned the importation of wheat and wheat product in 1986, thereby, sending shock waves to this very well established and expanding industry. Wheat products has started to consume an unacceptable amount of the nation’s foreign exchange as the table 1.1.1 below clearly demonstrates, as well as figure 1.1.1 in page 3.
Table 1.1.1 Foreign Exchange Spent on Wheat and Food Import 1981 – 1985
Import 1981 1982 1983 1984 1985
N,000 N,000 N,000 N,000 N,000
Total food 1,820,215 1,642,245 1,296,714 843,246 946,567
Wheat 159,422 79,629 255,717 243,067 327,870
C/o of total 9% 5% 20% 29% 35%`
Source: Federal Office of Statistics, Lagos
Given the above circumstances, there was a clear need for government action to check the outflow of the nation’s declining foreign exchange earnings through what important.
Besides, it can also be argued that there were suitable local substitutes of wheat flour for bread baking; rice, cassava, maize and sorghum have been mentioned as such suitable substitutes. To some people these substitutes were at least as good as wheat as it
FIGURE 1.1.1
FOREIGN EXCHANGE SPENT ON WHEAT AND FOOD IMPORT
1981 – 1985
Source: Federal Office of Statistics, Lagos
was suggested that local bakers rejecting them were doing so our of ignorance, or out of a slavish preference for imported products or whether one accepts the above arguments or not, what has become clear is that the effect of the ban on the importation of wheat was swift devastating on the bakery industry.
In Enugu Urban alone, some famous baking houses closed up. Nigerline bakery, St Georges Bakery, many bakeries and Mother’s Pride Bakery all shut down between the middle of 1986 and the end of 1987. As at the time of starting this project, not every Bakery has resumed operations.
A far more reaching effect on this ban on the industry as a whole is that it has quite clearly changes the eating habits of many Nigerians.
Ubiquitous bread on the breakfast table has vanished and the frequent sight of peoples snacking on bread in the afternoon has also disappeared.
The primary demand for bread products in this country has certainly contracted since then.
1.2 STATEMENT OF THE PROBLEM
Such is the background for this study. Most baking houses are small scale business who face the task of devising survival strategies to deal with major changes in government policy that threaten their very existence.
Our focus is on suitable survival strategies for the banking industry given their operating circumstances since 1986. We are interested in finding out how those who are still in business dealt with the new condition in which they found themselves. In particular, we will be looking at the organizational changes, financial management strategies, and other operating techniques that they had to adopt in order to survive.
As for the baking houses that closed down, we shall explore whether there were forces other that the ban on imported wheat that engendered their demise. The study will cover a broad section of the bakeries in Enugu urban. See Appendix A.
1.3 OBJECTIVES OF THE STUDY
In general, the study hopes to take a close look at the baking houses in Enuguu urban since 1986. Specifically it is intended to find out the following:
(a) What changes have those who continue to operate made in their structure and method of operation in order to cope with the ban?
(b) What new financial arrangement have they made following rising production cost resulting from the ban?
(c) Have they coped with the sourcing of raw materials?
(d) What new challenges they now face three years after the ban or import flour?
For completeness, it is also necessary to examine the cases of those baking houses that were found to have closed down as a result of the ban. Although there may be problems obtaining information from some of these outfits, whose operating records may no longer be available, an effort would be made to access the general operating state of such baking houses before the ban. This should enable one determine whether such baking houses were already having serious operating difficulties before the ban or whether their extinction is to be blamed on the ban.
1.4 SIGNIFICANCE OF THE STUDY
This study should be of considerable interest to policy makers in government, to the bakers and distributors of bread products and consumers and to the public at large. The study hopefully, will give government some documented information on the effect of the major policy changes introduced in 1986. The information should enable government to establish what new measures need to be taken as well as provide some basis of determining in advance, the likely consequences of similar measures in future.
Bakers should use the study to understand fully the impact of the changes on their industry. The study will highlight how they have fared; the successful ones will see what it was that enabled them weather the consequences of the ban on wheat importation. Those who failed to do and indeed why they have ceased to be in business. In the end, the industry will be better placed to cope better with similar situations in the future.
The researcher’s understanding on the challenges and the survival strategies of small scale industries will be greatly impacted.
The bread consumers, through this work, shall gain first hand information of the difficulties the bakers go through to provide them with the bread they love to eat. They will better appreciate the need to pay a little more for this product.
The general reader will equally find the work a useful contribution to knowledge.
1.5 HYPOTHESIS
In this study, the following hypothesis have been formulated:
1. The ban on wheat importation did not cause any significant changes in the methods of operation of bakeries.
2. New challenges faced by bakers are not as a result of ban on importation of wheat and its products.
3. The sources of raw materials for bakeries remained unchanged after the ban on wheat importation.
4. New financial arrangement are made by bakers are not as a result of the increase in costs of wheat flour.
5. The ban on wheat importation did not cause the demise of a significant number of bakeries.
1.6 SCOPE OF THE STUDY
The emphasis of this study is on small scale bakeries in Enugu Urban. The study intends specifically to investigate the impact of ban on wheat importation on bakeries and the strategies adopted by them to survive.
1.7 LIMITATION OF THE STUDY
This study was constrained by many factors among which were time, funds, and the unco-operative attitude of some respondents.
The researcher found the study very time demanding in data collection and production. Often the researcher is rebuked for being absent from work in process of carrying out the study. Owing to the pressure of work, more intensive and extensive investigation could not be carried out.
Some respondents were unwilling to complete the questionnaire, some others completed their own reluctantly.
The study turned out to be very expensive on purchase of materials, field work and production.
HOW TO GET THE FULL PROJECT WORK
PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).
HOW TO RECEIVE PROJECT MATERIAL(S)
After paying the appropriate amount (#5000) into our bank Account below, send the following information to
08139462710 or 08137701720
(1) Your project topics
(2) Email Address
(3) Payment Name
(4) Teller Number
We will send your material(s) immediately we receive bank alert
BANK ACCOUNTS
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 0046579864
Bank: GTBank.
OR
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 2023350498
Bank: UBA.
HOW TO IDENTIFY SCAM/FRAUD
As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.
But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.
Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.
No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner
CAUTION/WARNING
Please, DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials are to assist, direct you during your project. Study the materials carefully and use the information in them to develop your own new copy. Copying these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational standard, and we will not be held responsible for it. If you must copy word-to-word please do not order/buy.
That you ordered this material shows you have agreed not to copy word-to-word.
FOR MORE INFORMATION, CALL:
08139462710 or 08137701720
YOU CAN ALSO CALL:
08068231953, 08168759420
Visit any of our project websites below:
www.easyprojectmaterials.com
www.easyprojectmaterials.com.ng
www.easyprojectmaterial.net
www.easyprojectmaterial.net.ng
www.easyprojectsolutions.com
www.worldofnolimit.com
www.worldofnolimit.com
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.net
www.nairaprojects.net
www.uniproject.com.ng
www.uniprojects.com.ng
Tags: THE IMPACT OF SURVIVAL STRATEGIES OF THE BANKING INDUSTRY
TABLE OF CONTENTS
CHAPTER ONE
1.0 INTRODUCTION 1
1.1 BACKGROUND OF THE STUDY 1
1.2 STATEMENT OF PROBLEM 3
1.3 OBJECTIVES OF STUDY 4
1.4 SIGNIFICANCE OF THE STUDY 4
1.5 LIMITATIONS OF THE STUDY 4
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 HISTORICAL DEVELOPMENT OF COMMERCIAL BANKING IN NIGERIA 6
2.2 STRUCTURE OF THE NIGERIAN
COMMERCIAL BANKS 10
2.3 FUNCTIONS OF COMMERCIAL BANKS 12
2.4 LOANS AND ADVANCES BY COMMERCIAL BANKS16
2.5 LOAN AND ADVANCES TO PREFERRED AND LESS PREFERRED SECTOR 20
2.6 IMPORTANT OF LOANS AND ADVANCES TO THE PREFERRED 20
2.7 FACTORS THAT AFFECT GRANTING OF LOANS22
REFERENCES 23
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1 SOURCES OF SECONDARY DATA 26
3.2 LOCATION OF DATA 26
3.3 METHODS OF DATA COLLECTION 27
CHAPTER FOUR
FINDINGS 28
CHAPTER FIVE
RECOMMENDATION AND CONCLUSION 30
BIBLIOGRAPHY 32
PROPOSAL
THE APPRAISALS OF COMMERCIAL BANKS
SECTORIAL DISTRIBUTION OF LOANS AND ADVANCES
Commercial bank is a financial institution or banks that specialized in keeping money and other valuable safely and in granting short term loans, Advances to individuals and corporate bodies.
This project topic in chapter I will state the introductory aspects of commercial bank and their ability to influence economic activities through creation and distribution of loans and advances to their customers being the preferred and less preferred sectors of economy.
Chapter 2 will base on the evolution of commercial banks, their functions and the C.B.N. guidelines towards the distribution of loans and advances to the various sectors. It will also state the objectives of commercial banks towards the distribution of loans and advances which is profit maximization.
Chapter 3 will be the method which I will use on the research topic which is secondary data like Newspapers, textbooks and Journals for more information needed for the topic and for the topic to be well emphasize so that I will benefit from the information.
In chapter 4. I will discuss the findings towards the topic like the solutions of the problems that will be encounter by Commercial Banks.
Chapter 5 will discuss on the concluding aspects or parts of the topic which means how Commercial Bank should abide by the rules and regulation guiding them when lending which will put inflation to an end in our economy.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
I got interested in the topic of this project owing to the fact that the preferred sector of the economy is being marginalized in its attempt to secure loans and advances from the Commercial Banks.
The Commercial Banks with their ability to influence economic activities through the creation and distribution of money has become the major focus of monetary activities.
The Central Bank of Nigeria has through the years sought ways and means of mobilizing funds for the development of the country’s economy.
Though equipped with various instrument of controlling and directing credit, the Central bank has found the method of credit guidelines most effective in directing credit to specified sectors of the economy.
Thus, the government has through the Central Bank succeeded in directing the Commercial Banks sectoral distribution of loans and advances. It is not always easy to set guidelines and expect full compliance. Guidelines have always been set to achieve certain objectives and the achievement of such objectives are always dependent upon full compliance by those affected by the guidelines.
The Central Bank of Nigeria guidelines on sectoral distribution of loans and advances are aimed at developing the productive sectors of the country’s economy as well as curbing price inflation.
The Commercial Banks who are expected to follow the Central Banks guidelines have their corporate objectives of making profits, the Commercial Banks have auxiliary objectives of meeting the demands of their shareholders, customers and government.
Therefore, the research problem rests on whether the Commercial Banks will be able to show full compliance with the Central Banks guidelines in the light of the risk involved and the lending rate prescribed for lending to the preferred and less preferred sectors of the economy.
1.3 THE OBJECTIVES OF THE STUDY
The objectives of this research project can be stressed as follows:
- a. To find out whether the Commercial Banks give out loans and advances to the preferred sectors of the Nigerian economy.
- b. To find out whether the Commercial Banks give out loans and advances to the less preferred sector of the Nigerian economy.
- c. To find out what makes up the preferred and less preferred sectors of the Nigerian economy.
1.4 SIGNIFICANCE OF THE STUDY
This research project will be of immense benefit to the academic world in the sense that it will stimulate future research.
It will equally be of immense benefit to the federal government of Nigeria in the sense that the activities of Commercial Banks affect the economy as a whole.
The study will also be of advantages to the business world and customers who wish to know why they are not given long term loan as requested by them.
1.5 LIMITATIONS OF THE STUDY
The study into Commercial Banks sectorial distribution of loans and advances is an inexhaustible one but the researcher could not be able to achieve much as she liked due to time constraint.
Another limitation is lack of statistical data. All the necessary data required for this research project would not be brought owing to non availability and also the reluctant attitude shown by some workers in the places where these data were to be collected.
Also, pressue from classwork added to the limitation of the project because as there are so many assignments to be written and submitted within a stimpulated time, it could be very difficult for the researcher to be combining classwork and writing of project.
Another thing is financial constraint.
There was no money to run around to collect more data on the topic.
There was therefore no option but to use available data and journals.
HOW TO GET THE FULL PROJECT WORK
PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s).
HOW TO RECEIVE PROJECT MATERIAL(S)
After paying the appropriate amount (#5000) into our bank Account below, send the following information to
08139462710 or 08137701720
(1) Your project topics
(2) Email Address
(3) Payment Name
(4) Teller Number
We will send your material(s) immediately we receive bank alert
BANK ACCOUNTS
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 0046579864
Bank: GTBank.
OR
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 2023350498
Bank: UBA.
HOW TO IDENTIFY SCAM/FRAUD
As a result of fraud in Nigeria, people don’t believe there are good online businesses in Nigeria.
But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.
Secondly, we have provided our Bank Account on this site. Our Bank Account contains all information about the owner of this website. For your own security, all payment should be made in the bank.
No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner
CAUTION/WARNING
Please, DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials are to assist, direct you during your project. Study the materials carefully and use the information in them to develop your own new copy. Copying these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational standard, and we will not be held responsible for it. If you must copy word-to-word please do not order/buy.
That you ordered this material shows you have agreed not to copy word-to-word.
FOR MORE INFORMATION, CALL:
08139462710 or 08137701720
YOU CAN ALSO CALL:
08068231953, 08168759420
Visit any of our project websites below:
www.easyprojectmaterials.com
www.easyprojectmaterials.com.ng
www.easyprojectmaterial.net
www.easyprojectmaterial.net.ng
www.easyprojectsolutions.com
www.worldofnolimit.com
www.worldofnolimit.com
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.net
www.nairaprojects.net
www.uniproject.com.ng
www.uniprojects.com.ng
Tags: THE APPRAISAL OF COMMERCIAL BANKS SECTORIAL DISTRIBUTION OF LOANS AND ADVANCES
CHAPTER ONE
1.0 INTRODUCTION
This project writ – up, “The role of Banks in international Trade”, is written to provide a guide sufficiently instructive in scope to meet the need for Banks, Economist in International Trade.
Among the important topics examined are if there are various relationship, role that exist between banks and international trade in Nigeria, nature of international economics, international trade, difference between international trade and internal trade, problems facing international trade in the banks sector.
1.1 BACKGROUND OF THE STUDY.
Nigeria before and even since the British Colonialist of our country has been engaged in international trade. But it was obviously spelt out during the British Colonialist that was in the 15th century termed legitimate trade.
This was until 1960 during which Nigeria got its independence. This means that, Nigeria was no longer controlled solely by the dictates of the British Government Ever since then legitimate trade to the Nigerian was changed to international trade of which Banks has a major role to play in it.
Nigeria since the oil boom in the early 70’s has been enjoying Nigeria and across the country. Diversifying its economy.
Apart fro international trade, and as a result of climatic factors, Nigeria needs international trade to diversify, accelerate its economic development in the country.
International trade ensures export expansion and import contraction coupled with the fact that it stimulates foreign exchange earnings, international recognition and the provision of employment opportunities for the teeming population.
International trade is synonymous with the production of goods and services for the benefit of trade across the country. Thus we have the banking institution, the food processing export/import trade and the sugar, tobacco export/import trade and that of petroleum export trade is not left behind. Therefore, international trade or external trade is a trade between two or more countries.
Example. Trade between Nigeria and USA as well as Ghana, India, Britain, Japan etc. trade between two countries is called bilateral trade, while trade between many countries is called multilateral trade.
International trade does not mean the exchange of goods and services within a country. The exchange of goods and services among the people of the same country is called home or internal trade. Example, all trading activities which take place within Nigeria in a home or international trade.
External trade is established for the purpose of stabilizing nation’s economy standard if living.
External trade has been proved beyond doubts as very important for a nation’s survival therefore it is peevant that we explicably manifest how the role of banks can be employed for the development of these trade. In doing this, we will limit our study to short and long term scale institutions which are very important to the economy.
Short term scale institutions ad defined by the central bank credit guidelines is, any service enterprise whose annual business turnover does not exceed N500,000.00 (five hundred thousand naira).
There is no definition for long term scale institutions as these did not attract the direct emphasis of the CBN.
The role of banks in international trade development of Nigeria, could be seen through the various services which these banks provide for the sustenance of international trade in the country.
These services include the provision of capital for these exporter/importers in the business inform of loans, such as short term loans, medium and long term loans, which the traders could use to finance their business goals.
The banks also provide overdraft facilities, which are necessary to finance the working capital of the business.
An overdraft could be defined as an arrangement whereby the banks allow their customers to over-draw his account up to a credit position at the end of the period, while short term loans refer to loans granted for periods between one to five years. Then medium and long term loans are granted for periods between five to ten years, even ten years respectively.
Apart from granting loans and over drafts facilities, there are still other roles which banks could play in international trade development in Nigeria. These roles include professional advice, opening of documentary letters of credit (L/CS), bills for collection and negotiation/open account and bills of exchange, foreign exchange example travelers cheques and foreign currencies, information on trade and exchange restrictions, collection and transfer of funds status enquires, etc. above all the determination of the actual external funds required by an export/import borrower. There are accepts of such services which help international trade growth or expansion.
It is not for fetched that the exporters/importers of international trade suffer their own bank problems, which should be analyzed and solved to ensure international trade development. These problems such as the problem of corruption in banking parastatals, obtaining capital from and operational problems which are coursed by the dictates of the Nigeria environment and society.
The irrational problem of manpower requirement and the poor knowledge of trade across of these external traders help to compound the general problems of international development of which bank services can be gainfully employed for the purpose of solving them.
Addition to the problems is lost of trust ship among the members or cooperators of the trade 4, 1, 9, problem among members.
In all, these problems the worst is the problems of unstable political contradictions.
These problems should be totally exterminated by the government, and the society entirely to ensure the steady growth of this important sector of the business of the economy.
It has been noticed that the level of banks institutions financing has been vary poor compared with is obtained in developed nations such as America (USA), Germany but few. The central bank of Nigeria (C. B. N) should step up their moral suasion policy so as to make these banks especially the commercial banks to increase the level of their financing of exporter/importers members.
In increasing this level of their financing emphasis should be placed on medium and long term loans to enable these traders concretize their investments for better results in its outputs; though the commercial banks borrow short from their deposits, the commercial banks who also declare excess profits at the end of each year should expand a lading pattern for medium and long terms loans without adversely affecting their liquid ratios.
With the funds available from the banks, international traders should be made to judiciously invest them and with other important a sound, solid firm and concrete foundation must be laid for the international development of the country.
1.2 STATEMENT OF PROBLEM
The Nigerian Banks plc is a pillar in the roles contributed to international trade in Nigeria. The Nigerian banks have various established institutions that enhance the growth of international trade.
Commercial banks, merchant banks, development banks, are one of the banks instrument that hold a vital role in external trade and has been branched all over Nigerian states. The contribution of the above banks to international trade has been a satisfactory type. Most importers and exporters dances to tune of these banks.
Why has these very banks so appetizing to the society and the world at large? Is the success as a result of the banks efforts in it’s operations?
Why do importers/exporters prefer it to other financing institutions?
1.3 OBJECTIVES OF THE STUDY
- To find out if commercial banks play any role in international trade in Nigeria.
- To find out if merchant banks play any role in international trade in Nigeria.
- To find out if development banks play any role in international trade in Nigeria.
- To find out if commercial banks play any role in international trade.
- And equally to find out if people’s bank play any role in international trade in Nigeria.
1.4 RESEARCH QUESTION
- What role do commercial banks play in international trade?
- What role do merchant banks play in international trade?
- What role do development banks play in international trade?
- What role do community banks play in international trade?
- What role do people’s bank play in international trade?
1.5 ASSUMPTION OF THE STUDY
It is assumed that in this research the secondary data collected is correct and reliable.
The procedure and method used is correct and reliable.
1.6 SCOPE OF STUDY
Area of coverage
The role of banks in international trade in Nigeria .
Banks method of contribution to international trade in Nigeria.
Why international trade in Nigeria?
Advantages of international trade in Nigeria.
1.7 SIGNIFICANCE OF THE STUDY
Today, the government parastatals, banking sectors and the society are all hands on deck to enhance the international trade development and growth of Nigerians economy.
The research study will be of high benefit to banking sectors, importers/exporters and to the society in general to embark of the effectiveness of their business, which inturn will change of the society. Also the study will determine the census and problems of banks role in international trade in Nigeria and thereby should be taken as a corrective measure.
Through this investigation, therefore, the banks and the society will then know their weak points and willingly adopt measure aimed at enhancing it’s business effectiveness.
The government will be in the position to adopt the right strategies to enable the society achieve it’s business expectations or goals.
1.8 LIMITATION OF THE STUDY.
Limitation encountered by the research work is finance and incorporation attitude of respondent: – Some respondents were out rightly hostile and very impatience to entertain genuine requests. There was also bureaucratic bottle – neck that some official documents. However, these constraints did not destroy the ingredient of this research.
1.9 DEFINITION OF TERMS.
(a) International Trade: As described by the Author, Norbert M Ile in his published test “Economics of business studies” (1999, P. 278) defines an international trade or external trade as “a trade between two or more countries; it is the exchange of goods and services between two or more countries”.
(b) Banking Institution: We can define a bank as any organization that handles people’s money. It is a dealer in debts, but indebtedness has a correlation to wealth and hence, a bank can be described as a liquefier of wealth.
(c) Role: It is defined as “actors in a play; persons task or duty in undertaking.
(d) Foreign Exchange: This is a process by which a country exchanges it’s goods/services to another country’s goods/services.
(e) Overdraft: This is a system whereby a customer drawns more money then he has to his credit in a bank.
(f) Economy: It is a system of control and management of the money goods and other resources of a society.
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TABLE OF CONTENTS
TITLE PAGE:
APPROVAL PAGE:
DEDICATION:
ACKNOWLEDGEMENT:
ABSTRACT:
CHAPTER ONE
1.1 INTRODUCTION
1.2 THE NATURE OF ACQUISITION MERGER AND LIQUIDATION
1.3 REASONS FOR ACQUISITION MERGER AND LIQUIDATION
1.4 STATEMENT OF PROBLEMS
1.5 PURPOSE OF STUDY
1.6 SIGNIFICANCE OF STUDY
1.7 HYPOTHESIS
1.8 LIMITATION AND SCOPE OF STUDY
1.9 DEFINITION OF TERMS
CHAPTER TWO
LITERATURE REVIEW:
2.1 INTRODUCTION
2.2 THE ROLE OF THE PUBLIC ACCOUNTANT IN FORMATION OF COMPANIES
2.3 THE ROLE OF THE PUBLIC ACCOUNTANT IN ACQUISITION OF COMPANIES
2.4 THE ROLE OF THE PUBLIC ACCOUNTANT IN LIQUIDATION OF COMPANIES
2.5 THE GUIDES ON CORPORATE FAILURE AND BUSINESS SURVIVAL, THE ROLE OF THE PUBLIC ACCOUNTANT
2.6 THE PROBLEMS OF THE NIGERIAN ACCOUNTANT
2.7 SUMMARY OF REVIEWS LITERATURE
CHAPTER THREE
RESEARCH METHODOLOGY:
3.1 INTRODUCTION
3.2 DESCRIPTION OF POPULATION AND SAMPLING PROCEDURE
3.3 SOURCE OF DATA
3.4 QUESTIONNAIRE DESIGN
3.5 QUESTIONNAIRE DESIGN AND DISTRIBUTION
3.6 SUMMARY
CHAPTER FOUR
DATA ANALYSIS: …………………………………………………..
4.1 INTRODUCTION
4.2 ANALYSIS OF DATA FROM USERS OF ACCOUNTING SERVICES AND HYPOTHESIS TESTING
4.3 ANALYSIS OF DATA FROM PUBLIC ACCOUNTANTS AND TESTING OF HYPOTHESIS
CHAPTER FIVE
SUMMARY OF FINDINGS, RECOMMENDATION AND CONCLUSION
1.5 INTRODUCTION
5.2 SUMMARY OF FINDINGS
5.3 RECOMMENDATION
5.4 CONCLUSION
APPENDIX A:
APPENDIX B:
APPENDIX C
INTERVIEW GUIDE……………….
BIBLIOGRAPHY: …………………………………………………….
CHAPTER
1.1 INTRODUCTION
The public accountant is an independent practitioner who works on a gee basis for business management or for individuals wishing to use his services or as member of an accounting firm. Most public accountants are also external authors.
The commonly known services offered by the public accountant include the following:
- Those that are substantially of auditing nature
- Those who involve primarily accounting
- Those pertaining to taxes.
Most people perceive the roles of the public accountant as being limited to the traditional one balance sheet in the process of auditing the financial statements of companies.
The have failed to realize and appreciate that the public accountants provides services in respect of problems relating to conceptualization of business ideas, formation, registration and development of business most importantly on how to do with the collection and presentation of accounting data. They also undertake routine book-keeping for enterprises without adequate book-keeping personnel.
Very often, the accountant is consulted with respect to income tax implication of proactive transactions. In his contribution, Okugi said consultant of his client, the task will be more cost effective and efficient. Hence, he will be able to make comprehensive report to avoid as much tax as possible and avoid unnecessary duplication.
C.A. Okafor2 see the designing of accounting systems for clients as one of the frequently ignored aspects of public accounts in Nigeria.
The public accountant helps in the planning stage of company preparing feasibility studies, writing the expected financial flow-making realistic projections and determining the cost implication of intended projects. He also co-ordinates and uses the input from other professionals to compute, analyze and expose the financial implications of the entire line of action.
Nnam3 added that the accountancy firms perform appraisal of investor to determine their viability and profitability and to check the stability of expected cash flow.
The public accountant draft the Articles of Association, memorandum of Association and formulate the internal policy of the firms. These documents are then filed with the Register of companies. He can also help in the preparation of budget, business plan and installs control systems and procedures that generate necessary data from which information needed by business if processed. In same circumstances, a new or existing company may rely on the public accountant for recruitment of some specialized manpower or he can send his staff on recommendation to a new business for specified period during which the firm is expected to stand on its own4
He also has important roles to play in the diversification and enhancing of the company’s profitability and stability of income. This is done through regular, advisory service on the best way to utilize ideal funds. He should be able to advise on the more profitable lines in the production process, the services which generate more value added, which services, products or departments should, which services, products or departments should be initiated and which should be discontinued. The accountant gathers and analyzes quantitative information and gives opinion as to which alternative makes economic sense5.
The public accountant can also act, as an insolvency practitioner by examining the company to the whether immediate liquidation is needed or whether the company still stands a chance to succeed.
He can act as a receiver by taking possession of the assets as charged to debenture holders and realizing them and which he withdraws from the company.
He can also act as liquidation by selling and collecting (in case of debts) the assets of the company and pays the proceeds to the entitled.
1.2 THE NATURE OF ACQUISITION, MERGER AND LIQUIDATION
Acquisition refers to all form of merger, amalgamation and take-over bids. It is the process of becoming a holding company or subsidiary involving significant cash out flow from the acquiring company to the acquired company’s shareholders as consideration for acquired interest.
Mergers, also called pooling of interests, describe an acquisition through the exchange of equity shares. Specifically, the parent company issues its own share certificate in exchange of equity shares certificate of the subsidiary. There is no purchase/ sale transaction between the affiliates, so the long term investment by the parent company is carried at the book value of the shares issued as consideration.
Amalgamation is the merger of two or more companies or undertakings of the interest in business or undertakings. The merger could be temporary and involve only certain aspects of a business operation (e.g. the pooling of orders or sales or formalized co-operation in production or procurement of inputs) this is referred to as partial merger.
It can also be a complete amalgamation and usually involves the absorption of one or two companies by an existing company by new company specially formed for that purpose.
In its narrowest sense, it is the formation of entirely new company to acquire existing separate concern. This necessitate the winding up of the existing companies. In its wider sense, it could be used to mean absorption whereby there is new company formation and is a two company situation, there will be only one liquidation.7
Liquidation can be described as a situation whereby authorization is given to sell business of the old company to a new company and in consideration to accept, shares in the new company for the agreed asset value. The only asset in the hands of the liquidator is now these new shares and he distributes them to the old shareholders. The end result is the shareholders now hold share in the new company at the agreed reduced valuation and the new company owns the business.
The principal advantage from the point of view of the shareholders is that dissenting shareholders have the right to acquire the liquidator either to abstain from carrying the resolution of effect or to purchase their shares at an agreed price.
1.3 REASONS FOR ACQUISITION, MERGER AND LIQUIDATION
Expansion is a major objectives of most organizations. Usually a large and profitable company with adequate records invests on other companies.
The investment can be short term or long term; it can be an investment in debt securities or in the share capital of the other company. When a company invests in the shares (ordinary or preference) of another company, the reason may be just to employ idle case and earn some additional revenue or it could be to enhance growth through the production and sale of new products and services.
Additional reasons may be to gain access to new markets and supply sources or to exercise influence and control over the company whose shares are acquired. When the desire is to effect control a company invests in the ordinary shares of the other company.
Companies who could not stand the presume of the government economic policy collapsed due to structural Adjustment programme (SAP) introduced in 1986 which was directed towards encouraging Nigerian companies to source their raw materials locally and the self-sustaining. To provide themselves with a strong common front against the industrial constraints, many other average companies came together to form a merger. And yet the big one emerged to acquire the weak companies. For instance, seven-up Bottling company acquired’ Schweppes’, lever Brothers Limited also merged with Liptons Nigeria limited.
In Nigeria today, the number or record of company, failures mergers and acquisition is intriguing and the trends from all indications are expected to continue as more and more companies continue to absorb the stringent impact of ASP. And only those companies with the correct and adequate mix of resources can survive.
1.4 STATEMENT OF PROBLEMS
Peter Langard stated that the most proprietors of small businesses look upon the statutory audit as an imposition and do not feel that there is any value to the business firm from it.
Thinking makes it imperative on the accountants to emphasis the non-audit roles in order to retain the prestige, improve their income, ensure the satisfaction of their clients and enhance national economic development.
Thus, most people including potential investors and entrepreneurs do not understand the expert services the professional accounting firm can provide them.
The above problem that is the lack of understanding of the accountants other capabilities has called for some questions, answers to which will give an insight into the non-auditing roles of accounting firms, especially at the formation and infancy staged of business. The quest are:
(i) What are the usual problems proprietors encounter prior to, at the formation and at the initial stage of their business?
(ii) Which of the accountants usual function are specifically relevant to the needs of new firms?
(iii) Can public accountants assist in the planning, registration and management of young firm? To what extent can the accountant’s involvement help the firms to achieve growth and profitability?
(iv) Is it feasible and advisable for public accounting firms to initiate enlightenment programme through organization of lectures, symposia, seminars and so on with an aim of encouraging potential entrepreneurs to set, up business?
1.5 PURPOSE OF STUDY
The purpose of this study is to bring to the notice of the public particularly potential investors and entrepreneurs, the services the professional accountants can provide them.
It is at exposing to them the problems firms will undergo at infancy and highlighting those areas where the public accountants will readily provide succour.
Besides, it seeks to bring to the notice of the chartered accountants, the pressing needs of today’s small firms in the Nigerian context with a view to making them respond swiftly and decisively to such needs.
In summary, the purpose of this study is to answer the questions raised at the problem statement which this writer believes will be of mutual benefit to the public as well as the accountant.
1.6 SIGNIFICANCE OF STUDY
The main beneficiaries of this study are public, the accounting firms, professional accounting bodies and government.
a. PUBLIC: This study will enable the public appreciate the duties of the accountants and their capabilities. In particular it will be useful to budding entrepreneurs who may find in the accounting firms, a useful instrument for realizing their dreams of owing their business and making profit through
b. ACCOUNTANT FIRMS: Though this work, the accounting firms may understand more clearly the problems firms and individuals encounter which they are in position to solve.
Subsequently, it will enable them to broaden their services, acquire new clients and provide other related services to their audit clients. This undoubtedly will help improve their image and ultimately their income.
c. PROFESSIONAL ACCOUNTING BODIES: The outcome of the study may aid the understanding of the new challenges facing accountancy professional in their peculiar environment.
Consequently, this will guide professional accountancy bodies life institute of chartered Accountants of Nigeria, (ICAN) in determining and designing the type of training and exposure that, will be given to its existing and intending members in order to equip them adequately to tackle such problems. Thus, it may find the need to introduce courses and organize lectures with a view to making qualified accountants acquire new skills relevant to the needs of clients and the economy.
d. GOVERNMENT: The active participation of accountancy firms in the formation and development of new firms will help in the realization of government’s objectives of encouraging small and medium scale industries. This study may show necessity of government to review certain laws that hinder the accountants from performing their roles in ensuring survival and growth of such firms and make new laws where necessary. Besides, government will benefit from the survival of such companies as it will derive income through taxes and job opportunities will be created.
1.7 HYPOTHESIS
The hypotheses developed for this study are:
(1) That the most compelling constraint to company formation survival and growth in Nigeria is lack of adequate business information and expertise and not, capital shortage.
(2) That Nigerian investors have failed to understand fully the roles and relevance of the accountant to the survival and growth of their businesses.
(3) The Nigerian public Accountants have consistently emphasized their traditional roles of Book-keeping Accountancy and Auditing and neglected their non-audit functions.
1.8 LIMITATION AND SCOPE OF STUDY
The study does not dwell much on the audit function of the accountancy firms since most people seem to be aware of it already and it is perhaps the most popular role of public accountants in Nigeria.
Due to financial and time constraints, this researcher will only take a sample of firms and businessmen in judging the extent to which accountants play roles in development of new enterprises. The sample may be too small for reasonable conclusion to be drawn from it.
Unavailability of related literature on the topic imposes serious limitation on the writer.
1.9 DEFINITION OF TERMS
(a) FORMATION: Implies bringing into being or “bringing into existence.
(b) COMPANIES: Denotes to partnership firms, sole proprietorship, public or private companies, or all forms of business operated.
(c) PUBLIC ACCOUNTANT: Those accountants whose services are rendered to the general public on fee basis.
(d) ACQUISITION: Here refers to all forms of merger, amalgamation, and take-over bids. It is the subsidiary involving significant outflow of cash from the acquiring company.
(e) LIQUIDATION: Act of bringing an existing company that could not continue in business to a close.
(f) ACCOUNTANCY FIRMS: These means business organization consisting primarily of professional accountants registered with ICAN and are qualified to be external auditors to other firms.
(g) CHARTERED ACCOUNTANTS: Refers to follows and Associate members of institute of chartered Accountants of Nigeria and other bodies of accountant recognized in Nigeria which qualifies one to be external auditor of a company.
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BANK ACCOUNTS
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 0046579864
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OR
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 2023350498
Bank: UBA.
HOW TO IDENTIFY SCAM/FRAUD
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But on this site, we have provided “table of content and chapter one” of all our project topics and materials in order to convince you that we have the complete materials.
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No Fraudulent company uses Bank Account as a means of payment, because Bank Account contains the overall information of the owner
CAUTION/WARNING
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That you ordered this material shows you have agreed not to copy word-to-word.
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THE ROLE OF CENTRAL BANK OF NIGERIA AND MERCHANT BANKS IN FINANCIAL INTERNATIONAL TRADE IN NIGERIA
TABLE OF CONTENT
TITLE PAGE
APPROVAL PAGE
DEDICATION
ACKNOWLEDGMENT
ABSTRACT
Chapter ONE
1.1 INTRODUCTION
1.2 DEFINITION OF INTERNATIONAL TRADE
1.3 AIMS OF THE STUDY
1.4 STATEMENT OF THE PROBLEM
1.5 SIGNIFICANCE OF THE STUDY
1.6 SCOPE AND LIMITATION
1.7 HISTORICAL BACKGROUND OF MERCHANT BANKING IN NIGERIA
CHAPTER TWO
REVIEW OF RELATED LITERATURE AND STUDIES
2.1. NIGERIAN BANKING SYSTEM
2.2 INTERNATIONAL TRADE AND EXCHANGE RATE POLICIES IN NIGERIA
2.3 BALANCING OF PAYMENT AND NIGERIAN FOREIGN TRADE
2.4 RECENT DEVELOPMENT IN NIGERIA’S BALANCE OF PAYMENT
2.5 PRINCIPLE OF COMPARATIVE COST
2.6 TRADE RESTRICTIONS
2.7 INTERNATIONAL TRADE DEVELOPMENT AND EVOLUTION OF THE NIGERIA ECONOMY
2.8 THE BENEFIT OF INTERNATIONAL TRADE
2.9 FUNCTIONS OF MERCHANT BANKS
2.10 FUNCTIONS OF THE CENTRAL BANK OD NIGERIA
2.11 THE ROLE OF THE MERCHANT BANKS IN FINANCING INTERNATIONAL TRADE IN NIGERIA
2.12 THE ROLES OF CENTRAL BANK OF NIGERIA IN FINANCING INTERNATIONAL TRADE IN NIGERIA
2.13 INSTRUMENTS OF FOREIGN PAYMENT
2.14 SUMMARY OF THE LITERATURE REVIEW
2.15 SUMMARY OF PROCEDURE IN INTERNATIONAL TRADE.
CHAPTER THREE
3.1 METHODOLOGY
3.2 SAMPLING PROCEDURES
CHAPTER FOUR
4.1 ANALYSIS OF FINDINGS
4.2 QUESTIONNAIRES
CHAPTER FIVE
5.1 SUMMARY OF FINDINGS
5.2 recommendationS
5.3 CONCLUSION
CHAPTER ONE
1.1 INTRODUCTION
The role of international in the acceleration of political and socio – economic development of any nation deserves a good study. The term international trade refers to the trading operation conducted beyond national boundaries otherwise called export and import. It enables one country t have access to those commodities they could not possible produce themselves. Thus a country is able to shift its industry to those products and services for which its resources are most suitable exporting its resources in exchange for the specially of other countries.
Currently in Nigeria, the export growth rate is shown and correctly perceived as a major ousted to accelerated development and in other to avert this, virile export oriented strategies should be evolved. The import and export sector of any economy has to be nurtured, protected and promoted to enhance its positive and meaningful contributions to the survival of the economic system. Apart from government incentives, private and public companies, assistance and specialized financial institutional support, banking institutions play vital roles in financing international trade. As a result of this, it becomes necessary to study the roles of merchant banks and central bank of Nigeria in financing this international trade in Nigeria.
The central bank stored as the apex of the banking system of every country. It is the government representatives in the banking sector and acts mainly as banker to the government.
It acts as banker and adviser to the federal government banks, merchant banks and other financial institutions. It also has the monopoly of issuing legal tender currency in Nigeria and materials external reserves in order to safeguard the international value of the currency, promote monetary stability and sound financial structure.
In relation to international trade the central bank determines what and how much to approve in the areas within its justification such as payment for visible and invisible imports and controls in inflow of foreign exchange earnings from export. It processes exchange control application and makes foreign exchange allocation to qualifying applicants, assist in the monitoring and in the formulation of policies designed to ensure the optimum employment and conservation of the country’s foreign exchange earnings.
Apart from the rules played by the central bank in the international trade, there are two other licensed banks that supplement its rates. The commercial bank and the merchant banks. The commercial banks are referred to as retail banks because of the nature of their operations. They operate through a network of branches throughout the country and have board deposit base. That is the commercial banks accepts deposits from all and not from a particular sources (The deposits are usually called demand deposits).
The second category of the licensed banks is the merchant banks, which are wholesale bankers in the sense that their deposits are usually in very large blocks. They operated from few branches in the commercial centers of this country. They also accept deposits from the public and private co-operations as well as wealthy individuals; their functions include medium and long-term financing, investment. Management, management of unit trust, debt factories equipment leasing and issuing and acceptance of bills of exchange.
As regards international trade the merchant banks have acquired a reputation for fast and efficient processing of international business transactions such as foreign exchange for companies engaged in importing and exporting of capital goods, the merchant banks provide services which include the processing of remittance and documentary draft for collection and letters of credit. From the foregoing, the central bank and the merchant banks are indispensable as for as international trade is concerned and as such deserved a good study.
2.2 a. DEFINITION OF INTERNATIONAL TRADE
International trade is the movement of goods and services between countries such that one country is able to shift its industry to those products and services for which its resources are most suitable, exporting its resources in exchange for the specialty of other countries.
b. CENTRAL BANK
It is defined by functions it performs, it is the nations bank charged with the issuing of legal tender, maintaining external reserves, supervisor of other banks, promoting of monetary stability, adviser to the government on financial matters and maintaining sound financial structure.
c. merchant bank
A merchant bank is any financial institution that engages in wholesale banking, median and long-term financing, investment management, management of unit trust, debt fractioning, equipment leasing and issue and acceptance of bills of exchange.
1.3 AIMS OF THE STUDY
The purpose of this study is to give an overview of the activities of merchant banks and the central bank, particularly their roles in financing international trade in Nigeria. In international trade the roles being played by both banks are complementary in the sense that one cannot function without the “acquit of the other”. Suffice it to say that international trade financing activities of one bank is complemented by the other hence the topic “the role of central bank of Nigeria and merchant banks in financing international trade in Nigeria.
Merchant banks are recent occurrence in the country’s banking industry. Not much is known by the public about their activities.
The aim of this research work therefore is to highlight the roles of central bank and merchant banks in international trade financing.
1.4 STATEMENT OF THE PROBLEM
International trade is a trade between nations of the world and this trade arises from two basic reasons. One of this reason is that most countries find themselves in need of commodities they could not possible produce. Another basic reason for international trade is that countries different in their efficiencies in the use of national resources.
In Nigeria, international trade has contributed a lot to the country’s infrastructure and manpower development. Promoting international trade requires the assistance and financial support of specialized financial institutions like the central bank and merchant banks.
This study attempts to identify the roles these banks play in financing international trade in Nigeria, these include:
i. Knowing their roles in terms of borrowing and lending.
ii. Evaluating the extent of their financial investment in financing the trade in Nigeria.
iii. To appraise the performance of these banks to know as far as possible the remote causes of adverse balance of trade.
iv. To know how the banks have been encourage in playing the roles.
1.5 SIGNIFICANCE OF THE STUDY
The significance of the study could be seen on reflecting, that international trade exists as a backbone of our economic system, which is a subset of our national economy. It is and engine of growth, a potent strategy for mutual interdependency among world nations and of course, an instrument for technological and industrial emancipation.
It is aimed at identifying the roles of the central bank of Nigeria and the merchant banks as it affect international trade. The roles as identified are observed through recommendations to be made, where these roles are not identified and encourage, development and growth of international trade will continue to elude Nigeria which will invariably restore the development of the nation as a whole.
The central banks roles in this country are often misunderstand and as a result the central bank can become a target of public criticism, particularly doing period of economic upheavals. This study has been designed therefore to show the roles it plays in building the economy. It should be noted that the central bank operated basically within the provisions of the 1958 central banks Act and its various amendments.
The merchant banks play rules germane to our economic development country to public commitment. This study aims at revealing these roles and making recommendation. The study is significant to business executives, policy makers, economist, merchants and government agencies. Through the study, attention is drawn on drawn on the roles the banks play and ways to encourage these
1.6 SCOPE AND LIMITATION OF THE STUDY
This study is to cover the central bank of Nigeria and the merchant banks operations as it affects the financing of international trade in Nigeria with CBN Enugu and crown merchant bank Benin as a case study.
The shortcomings in this study include the inability of the research work to get all the necessary materials relevant and adequate for this study.
For example, during the oral interview with the staff of crown merchant bank, they maintained a high seereey which limited the scope of the information that the research waited to gather. They were afraid that if they disclose such information it would go into the hands pf their competitors. While the staff of CBN Enugu insisted and maintained in issuing general information of CBN as body.
The problem of limited times is more constraint although efforts were made to justify the work. There was equally lack of fund to travel these long distances, especially this country where transport network is poor and expensive. Also poor communication network contributed to the limit of the study.
1.7 HISTORICAL BACKGROUND DEVELOPMENT CONSTITUTION AND STRUCTURE OF THE CENTRAL BANK OF NIGERIA
CBN Enugu was traced back to the 11th day of June 1995 where its foundation block was laid by the, then governor of Eastern Nigeria, His exchange Sir Francis Akanu Ibiam G.C.O.N K.C.M.G and later commissioned on the 12th of April 1973, by the then Administrator of the East central state. His Excellency Mr. Ukpabi Asika.
Further information reveals that its parent body was established in 1958 under an Act of parliament known as the central bank Act. For many years before the establishment of the, a rudimentary monetary system had already began the process of transforming the Nigeria economy from a barter economy. The media of exchange then were however multifarious and therefore not very conducive to the operations of modern monetary system. Hence one could not really regard Nigeria as having a monetary system, at least in terms of orderliness until the establishment of the West African Currency Board (WACB) and the introduction of single currency system for West African in 1992. The establishment of the West African currency Board essentially prepared the way for the emergent modern financial system in Nigeria.
However, the W.A.C.B itself as designed could hardly be described as a monetary authority in terms of using any discretionary power to control the growth of credit and money supply in the economy.
Thus the W.A.C.B has been described as simply a positive moneychanger. This major shortcoming of the WACB provided the basic for agitation in favor of the establishment of a central bank not only in Nigeria but also in other countries operating under the West African currency Board system.
The first formed move towards the establishment of a central banks in Nigeria was in April, 1952. Then a private members motion was proposed in the then house of representative calling for the establishment of a central bank in Nigeria to perform essentially those functions generally associated with central bank. This because the colonial government considered the establishment of a central bank in Nigeria then was premature in view of the relative underdevelopment of the local financial system. The house however passed amendment motion asking the government to examine and report back to it on the possibility of establishing a central bank in Nigeria.
To this end, an adviser to the bank of England, Mr. J.L. Finisher was accordingly given the task of examining this possibility. While the finisher’s report did not favor the establishment of a central bank in the country in the immediate feature, it did, however recommend a three step programme which it hopped would eventually lead to the establishment of the CBN. These steps in charge the transfer of the WASB headquarters from London to West Africa. This it hoped would allow the local people to be move closely associated with the board and also provided them with opportunity of acquiring some experience from its operations.
The second step in fishers programme was that a Nigeria currency should be established to replace the CBN.
In addition the programme called for the establishment of a bank of issue, which was later to develop into central bank. None of these steps was however implemented especially since its report itself did not recommend any immediate establishment of a Nigeria central bank.
In 1953, a year after the fisher’s report a World Bank mission visiting Nigeria considered the same issue and while agreeing with fisher that the establishment of a central bank Nigeria was premature however, urged for a rapid reform of the WASB to remove some anomalies in its operation. It also recommended, like fisher for the establishment of a state bank of Nigeria which would take over the issue of currency from WACB.
What would eventually lead to the establishment of the final study on the issue by Mr. J.B. Loynes who was also an adviser to the bank of England?
Loynes in his report favoured the establishment of central bank of Nigeria and his main recommendation because the basis of the CBN Act that effectively established the bank. Thus following the J.B Loynes report, the CBN was established by an Act of parliament known as the CBN Act to perform the traditional central banking functions end serve as the pivotal national financial intuitions.
With the establishment of the bank therefore, the west African currency board operations in Nigeria were placed out and taken over and refined by the bank.
STRUCTURE OF THE BANK
Under the original statute of the bank, the policy and general administration of the affairs and business of the bank was the responsibility of a board of directors consisting of a governor, a deputy governor and five other directors of all whom were to be appointment by the president of the federation. The governor served as the chairman of the board and he and the deputy were responsible for the day-to-day management of the bank and were answerable to the board for their acts and decisions.
However, following the recommendation of a firm of management consultants Mckingsay international Mc. Of the United Kingdom in 1977, the structure of the bank was changed. The firm of management consultants was appointed by the bank to undertake a review of the organization structure and management protectices of the bank. The board of directors is currently made up of thirteen members that include the government and deputy governor; three of the board members are executive directors. Thus the governors are currently responsible for the day-to-day management of the bank. The management of the bank is essential in the performance of its duty by ten departmental directors all of whom are career staff of the bank and are responsible for implementing the various decisions of the board. Each departmental director is basically responsible for the activities of his department. Furthermore, the current structure of the bank is such that a group of department directors report to a specific executive director assigned to the overall supervision of the department.
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Tags: THE ROLE OF CENTRAL BANK OF NIGERIA AND MERCHANT BANKS IN FINANCIAL INTERNATIONAL TRADE IN NIGERIA
ABSTRACT
This study examined the Impact of Liquidity Management on Commercial Bank Profitability a case study of oceanic bank international plc. Effurun, Delta State. This study revealed that commercial banks are faced with two conflicting objectives namely: liquidity optimization and profitability optimization to contend with. The researcher also showed that the problem of these two conflicting objectives became too complex in modern banking subsector which is characterized by competition. Based on this problem, the study of the impact liquidity management will have on commercial bank’s profitability was carried out to determine ways of resolving the problems associated these conflicting objectives. As regards the methodology used in this study, the simple percentage statistics was used in analyzing responses from questionnaire which was administered to bank staff and executive of Oceanic bank international plc. Finally recommendations were given by the researcher on how these problems will be resolved.
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In every system, there are major components that are very important for the survival of the system. This is also applicable to the financial system. The financial institution have contributed immensely to the growth of the entire financial system, as they offer an efficient institutional method through which resources can be mobilized and directed from less productive uses to more productive uses.
In performing these financial role, the financial institutions has proved to be an effective link between savers and borrowers, among the financial institutions that have partake in these important financial role are the commercial banks. The functions of the commercial banks have become the strong base for the two major functions of the commercial banks namely deposit mobilization and credit extension. Commercial banks have become a very important institution in the financial system as it helps in facilitating the movement of financial assets that are less desirable to the more desirable public who needed the financial assets. In view of this role and activities commercial banks play in the society, the commercial bank is selected as the main focus of this study.
An adequate financial intermediation requires the attention and focus of the bank management to the profitability and liquidity, which are the two conflicting objectives of the commercial banks. These objectives are parallel in the sense that an attempt for a bank to achieve higher profitability will gradually destroy its liquidity and solvency position and vice versa. Practically, profitability and liquidity are effective indicator of the corporate wealth and performance of not only commercial bank but to all profit oriented venture. These performance indicators are very important to the shareholders and depositors who are major publics of a bank. As the shareholders expect the bank to increase lending in order to give them maximum return in money invested while the depositor expect the bank to keep much idle cash in order to meet their demand. With profitability objective conflicting with that of liquidity, and with the interest of the shareholders conflicting with that of the depositors, there is the need for reconcile and harmonize these conflicting positions through effective liquidity management so as to ensure the survival and growth of the commercial banks.
1.2 STATEMENT OF PROBLEM
Through these financial roles, the commercial banks use the idle funds borrowed from the lenders by investing such funds in other classes of financial assets investment. These business activities of the bank is not done without problem facing it, since these deposit which have been invested by the banks for profit maximization can be demanded for at any time. When the bank is not able to meet their financial obligations, the public begins to loss confidence and these will cause lot of competition to the financial sector. With the high increase of competition in the banking industry, every commercial bank should strive to operate on profit and at the same time meet the financial demand of its depositors by maintaining adequate liquidity. The problem then becomes how to select the optimum point at which commercial bank can maintain its assets in order to optimize these two objectives. These problems become more difficult as a large number of banks are basically engaged with profit maximization and tend to neglect the importance of liquidity management and these can lead to technical and legal insolvency.
This research work will also see to other problems such as the effect of excess liquidity and the problem of estimating the proportion of the deposits that can be demanded for at any specific time, selection of factors that will affect or influence the bank liquidity level and finally problem of satisfying the two major publics of the commercial bank simultaneously. With these solutions will be prescribe and recommendations will be made where necessary.
1.3 OBJECTIVE OF THE STUDY
The competition environment of the financial institutions is to tense that any commercial bank that aims to survive must be aware of the challenges of its liquidity and profitability obligation as both variable can make or destroy its future. This study is largely centered on liquidity objective and ensure its ability to meet up the depositors demand thereby maximizing its value and there is also uncertainties in the asset management of the commercial banks as the new deposit does not correspond with the customers’ withdrawals, since demand is made at short notice. Therefore this study is aimed at the following goals:
– To know how liquidity management will handle these uncertainties and determine their effect on profitability
– Discovering the specific factors that are useful in improving profitability and liquidity position of the commercial banks.
– To examine the cost of liquidity and illiquidity levels on the performance of commercial banks and length at which this liquidity can be used as competitive instruments.
– To take a critical view of the adopted liquidity measures of the commercial banks and attempt to see how it has been achieved.
– Finding out the effect of changes in liquidity levels on profitability.
– Aimed at discovering the credit and portfolio policies of the commercial banks
– Finally it will attempt to identify the basic causes of liquidity problems in Nigeria commercial banks and to recommend appropriate measures to solve such problems.
1.4 RESEARCH QUESTIONS
Based on the study the following research questions are asked:
– What factors can be useful in improving profitability and liquidity position?
– How can liquidity management lead to profitability?
– What will be the effect of changes liquidity levels on profitability?
– Is there any relationship between liquidity level and profitability level?
1.5 HYPOTHESIS
From the statement of problem, objective of study and research questions of the study, the following hypothesis are formulated:
- i. Null Hypothesis (Ho): There is no significant relationship between liquidity level and deposit level.
Alternative Hypothesis (HI): There is a significant relationship between liquidity level and deposit level.
- ii. Null Hypothesis (HO): The amount of loans and advances granted to customers does not significantly determine the profit level.
Alternative Hypothesis (HI): The amount of loans and advances granted to customers significantly determine the profit level.
- iii. Null Hypothesis (HO): There is no significant relationship between liquidity and profitability.
Alternative Hypothesis (HI): There is a significant relationship between liquidity and profitability.
- iv. Null Hypothesis (HO): Commercial banks in Nigeria do not keep the minimum liquidity ratio required by the CBN.
Alternative Hypothesis (HI): Commercial Banks in Nigeria keep the minimum liquidity ratio required by CBN.
1.6 SCOPE OF STUDY
This study on the impact of liquidity management on commercial bank profitability is carried out to check the possibility of liquidity management bringing a huge range of profitability to the commercial bank. It uses Oceanic Bank International Plc Effurun Delta State as its scope and it is carryout within 2007 to 2010 that’s a time frame of 4 years.
1.7 THE SIGNIFICANCE OF THE STUDY
For the fact that commercial banks operate on liquidity and profitability motives in the mind to satisfy their major publics, the shareholders and depositors, the need arise for them to bring into agreement these two motives with the aim of satisfying these two public concurrently. With this the commercial bank need effective and efficient liquidity management approaches and principles that will help them realize these motives. The result gotten form this study will reveal the level of attachment of the commercial banks to the monetary policies (liquidity ratios) established by the government and these will help the government to set appropriate liquidity ratio’s and cash ratio’s that will not be harmful to the operation and survival of the commercial banks. It will also help banks operators to evaluate how effective liquidity management and credit policy guidelines will affect profitability level and also the impact bank credit will play on bank’s liquidity and finally minimize the effect of illiquidity and help in providing effective liquidity formulations.
1.8 LIMITATIONS OF STUDY
Like every research work, this study is faced with a large number of challenges, starting from bank executives unwillingness to disclose necessary document and information needed for this study since they felt this information or document are confidential to them and that disclosing them might be detrimental to their business. This study is supposed to cover all commercial banks in Nigeria as they operate a unique policy in view of it threats and opportunities. However, the study is limited to just one particular bank due to insufficient time and lack of finance. Basically, the school activities as such have been a great challenge to this research, since these activities have occupied most time needed for this research. Nevertheless with all these challenges the researcher tried to conduct the research which is reliable.
1.9 Definition of Terms
a) Liquidity: Ability with which asset can be easily converted into cash. It also determines a firm ability to meet its short-term obligation.
b) Liquidity Management: The planning and control necessary to ensure that organisation maintain enough liquid assets so as to meet its obligations to customers.
c. Profitability: Profit is the ultimate measure of overall performance that is the excess of income over cost.
d. Commercial Bank: The business of receiving money, from outside source as deposits, irrespective of payment of interest and granting of money loan and acceptance of credit or purchase and sells of securities for the account of others or incurring of obligations to acquire claims in respect of loans prior to maturity.
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Tags: DELTA STATE, THE IMPACT OF LIQUIDITY MANAGEMENT ON COMMERCIAL BANK PROFITABILITY A CASE STUDY OF OCEANIC BANK INTERNATIONAL PLC. EFFURUN
ABSTRACT:
This work discusses the significance of financial institution in the development of small and medium enterprises in Nigeria. A study of some selected banks in Bida. A hundred and twenty questionnaires were shared amongst proprietors and managers of selected SMEs in Bida. It was also shared amongst managers of selected banks in Bida. Interviews and surveys were also conducted.
Primary and secondary data were used the analysis. Both frequency distribution and regression analysis were used.
It was observed therefore that financial institutions have a significant positive impact in the development of SMEs in Bida. Also,there is a strong relationship between financial institutions and the development of SMEs.
TABLE OF CONTENT:
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Research Problem
1.3 Objectives of the Study
1.4 Significance of the Study
1.5 Research Questions
1.6 Research Hypothesis
1.7 Conceptual and Operational Definition
1.8 Assumptions
1.9 Limitations of the Study
CHAPTER TWO
LITERATURE REVIEW
2.1 Sources of Literature
2.2 The Review
2.3 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Research Method
3.2 Research Design
3.3 Research Sample
3.4 Measuring Instrument
3.5 Data Collection
3.6 Data Analysis
3.7 Expected Result
CHAPTER FOUR
DATA ANALYSIS AND RESULTS
4.1 Data Analysis
4.2 Results
4.3 Discussion
CHAPTER FIVE
SUMMARY AND RECOMMENDATIONS
5.1 Summary
5.2 Recommendations for Further Study
Bibliography
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Tags: THE SIGNIFICANCE OF FINANCIAL INSTITUTION IN THE DEVELOPMENT OF SMALL AND MEDIUM ENTERPRISES IN NIGERIA
ABSTRACT:
This work discusses the role of Nigeria Agricultural cooperative and rural development bank on Nigeria economy. A hundred and twenty questionnaires were shared amongst customers and employees of the bank. Interviews and surveys were also conducted.
Primary and secondary data were used the analysis. Both frequency distribution and regression analysis were used.
It was observed therefore that the role of Nigeria Agricultural cooperative and rural development bank has a significant positive impact on the Nigeria economy. Also,there is a positive relationship between the Nigeria agricultural cooperative and rural development bank and the development of the Nigeria economy.
TABLE OF CONTENT:
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Research Problem
1.3 Objectives of the Study
1.4 Significance of the Study
1.5 Research Questions
1.6 Research Hypothesis
1.7 Conceptual and Operational Definition
1.8 Assumptions
1.9 Limitations of the Study
CHAPTER TWO
LITERATURE REVIEW
2.1 Sources of Literature
2.2 The Review
2.3 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Research Method
3.2 Research Design
3.3 Research Sample
3.4 Measuring Instrument
3.5 Data Collection
3.6 Data Analysis
3.7 Expected Result
CHAPTER FOUR
DATA ANALYSIS AND RESULTS
4.1 Data Analysis
4.2 Results
4.3 Discussion
CHAPTER FIVE
SUMMARY AND RECOMMENDATIONS
5.1 Summary
5.2 Recommendations for Further Study
Bibliography
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Tags: THE ROLE OF NIGERIA AGRICULTURAL COOPERATIVE AND RURAL DEVELOPMENT BANK ON NIGERIA ECONOMY
