ABSTRACT
This research work examined the “Effect of Bank distress on the saving habit of the rural dwellers” it investigated the causes and characteristic of bank distress in the Nigerian economy.
Many related literature were reviewed as the researchers collected data for this work. In remote communities where banking habit was poorly developed the exercise of changing bank notes in 1984 forced people to travel scores of mills to change their money and also made them realize that they need banks around incessant call for extension of bank branches to their areas. The effect of bank distress on the economy on the other hand included the erosion of public confidence mostly to the rural dwellers in putting their money in the banks.
TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of content
CHAPTER ONE
1.0 Introduction
1.1 Background of study
1.2 Statement of problems
1.3 Purpose of study
1.4 Research question
1.5 Significance of the study
1.6 Delimitation scope and limitation
1.7 Definition of terms
CHAPTER TWO
2.0 Review of related literature
2.1 Meaning and characteristic of distress
2.2 Cause of bank distress in Nigeria
2.3 Factors hindering smooth saving habits of the rural dwellers,
CHAPTER THREE
3.0 Research designs and methodology
3.1 Sources of data
3.2 Location of data
3.3 Method of investigation
CHAPTER FOUR
3.0 Summary and finding
CHAPTER FIVE
5.0 Recommendation
5.1 Conclusion
References and bibliography
CHAPTER ONE
1.1 BACKGROUND OF STUDY
A bank can be defined as an organization whose principal operation are concerned with the accumulation of temporarily idle money of the general public from the purpose of advancing to others for expenditures.
John page defined a bank “A corporation or person(s) who accept money on current account, pays cheques on such account on demand and collects cheque for customers”
Oxfords advanced learners Dictionary define a bank as an organization or a place that provides a financial services or a place where something is stored ready for use.
The establishment of modern banking in Nigeria dates back to the colonial when the African Banking corporation was formed in 1892 to distribute currency notes of Bank of England for the British Treasury subsequent developments were encouraged by colonial trade. In the bid to address the credit needs of indigenous enterprises, Nigerian late ventured into the banking business, initially through private individual initiatives and later through deliberate government policy.
The problem of distress in the financial sector, including outright bank failure, has been observed in Nigeria as back as 1930 when the first bank failure was reported indeed, between 1930 and 1958 when the central bank of Nigeria (CBN) was establishment over 21 bank failure were recorded.
However, the degree of intensity and scope of the distress has never been as serious as has been observed since June 1989 when government directive to withdraw deposits of government and other public sector institution from bank to the CBN exposed the weak financial condition of most financial institution and the severity of problem has progressively here used.
The distressed condition has been traced to a wide range of causes, some of which are listed on literature review. Eventually, when distress came to into the scene, fears of loosing fund to the banks influenced negatively, the banking habit of the rural dwellers.
1.2 STATEMENT OF PROBLEMS
With the wave of distress spreading in the finance companies, community banks and primary mortgage institutions, a total of 24 banks were distressed in 1933, ad against 10 in 1992, 31 finance house were in default of malures obligations 456 complaints against 156 finance companies for non resumption of matured funds, however, total assets and liabilities of 395 finance firms stood at N13.38 billion in 1993 as against N2.44 billion reported for the proceeding year (1992).
THE SATIATION WAS ATTRIBUTED TO THE FOLLOWINGS
- Prevailing economic recession, policy induced hock
poor and detonating asset quality arising from large portfolio of non-performing credits non-maintenance of assets and liability.
2. Poor management bothering on sharp practice and lack of experience which is the most serious problem, associated with bank distress in the rural area.
3. Ineffective, inefficient and poor performance of the financial sector on the role of promoting and supporting economic development in the rural areas.
The problem in focus above, triggered off the interest of the researchers to carry out study in the area.
1.3 PURPOSE OF STUDY
Under the purpose of study, which in other words, is the objectives of study the researcher will try to ascertain the following
- What bank distress is all about
- How it has affected the banking habit of the rural dwellers.
- The causes of bank distress.
- To enlighten the rural dwellers on the need you putting their money in banks.
- To ascertain the percentage of commercial banks is the rural areas.
- To encourage and ensure effective rural savings.
1.4 RESEARCH QUESTION
1. What is bank distress
2. What are the causes of bank distress
3. How does bank distress affects the saving habit of the rural dwellers?
4. What can be done to prevent bank distress?
5. How should rural dwellers be enlightened on the need of putting money in bank.
1.5 SIGNIFICANCE OF STUDY
In discussing the effect of bank distress on the saving habit of the rural dwellers the researcher have some important beneficiaries which include the following:
a. THE BANKING SECTION:- From the work the management should know the damages, distress in causing the conceptions of the bank dwellers towards savings in the bank. This will make the management seat up an enunciate managerial policies that are capable phasing out cases of distress in banks.
b. THE RURAL DWELLERS: Their benefit is indirect, it doesn’t appeal to them directly since distress is the effects on their saving habit.
Distress in bank will be eradicated to enable bank flourish well, so it is that benefit (such as rehabilitating the management so as to restore confidence and safely and area) that the banks get that will influence them directly. They will see it themselves, people in the rural area will save their money in banks and get them anytime they want. They will allay the fear in the rural dweller and energies their spirit of putting their money in banks. This is a result of powerful recommendations and suggestion made in this work.
c. ACADEMIC INSTITUTION:- This work is relevant to the institution and the students in the field of management sciences. Especially those in banking and finance in the sense that it will improve their literate review purposes, some copies of this work will be kept in the institution library for subsequent researchers for further research references.
d. THE GENERAL PUBLIC:- It is also significant to everybody these include mostly the investors, pubic libraries and research institution, where copies of this work will be kept and the general public can go and get copies, read and now known what is going on at the rural areas pertaining their banking habits.
e. INVESTOR: The study exonerates fears the investors have from saving in the bank due for distress because the investors would not like to dump the little they have with the bank.
f. PUBLIC LIBRARIES:- This work will increase their stock of books for research purposes by researcher.
g. RESEARCH INSTITUTES:- It is significant to the researcher institutes, because they keep those research work for further research by researchers.
1.6 DELIMITATION SCOPE AND LIMITATIONS
Delimitation: This work is delimited to the effects of distress to the general economy the use of primary data questionnaire method and interview methods are also delimited in this project work.
SCOPE: This study covers the effects of bank distress in the saving habit of the rural dwellers.
LIMITATIONS: The following problems, were encountered during the project work.
a. TIME FACTOR: No time is specifically given for the term paper work, one will be attending lectures and at the same time researching from the work there is not time to go to the library. Achievers etc for the project work or even market survey as the need may be.
b. LACK OF RESEARCH FACTORIES:- lack of text books or reference materials which contains the effect of have distress on the saving habits of the rural dwellers were hardly seen or found which made it difficult for the researcher to get enough facts.
c. SHORT OF FINANCE:- back of money or financial problem at time limit researcher from group to the villages to get facts as a man be needed for the works.
1.7 DEFINITION OF TERMS
1. Collateral:- Stocks or bound pledged as security for repayment of a loan.
2. Unscrupulous not doing guided by coincidence not held back from dong wrong.
3. Amity: Friendship is friendly relations between persons or countries.
4. Financial intermediaries: Like finance companies primary mortgages institution etc who serve as a go-between o. link in the financial institutions.
5. Malase: feeling of badly discomfort, but without clear signs of a particular illness.
6. Parlance: use or choice of words, ways of speaking.
7. Default: Fail to p[perform a duty or to pay a debt.
8. Allay: make something (e.g) pain, trouble, excitement fears less.
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 (#3000) 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
Tags: EFFECTS OF BANK DISTRESS ON THE SAVING HABITS OF THE RURAL DWELLERS
ABSTRACT
This research work examined the “Effect of Bank distress on the saving habit of the rural dwellers” it investigated the causes and characteristic of bank distress in the Nigerian economy.
Many related literature were reviewed as the researchers collected data for this work. In remote communities where banking habit was poorly developed the exercise of changing bank notes in 1984 forced people to travel scores of mills to change their money and also made them realize that they need banks around incessant call for extension of bank branches to their areas. The effect of bank distress on the economy on the other hand included the erosion of public confidence mostly to the rural dwellers in putting their money in the banks.
TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of content
CHAPTER ONE
1.0 Introduction
1.1 Background of study
1.2 Statement of problems
1.3 Purpose of study
1.4 Research question
1.5 Significance of the study
1.6 Delimitation scope and limitation
1.7 Definition of terms
CHAPTER TWO
2.0 Review of related literature
2.1 Meaning and characteristic of distress
2.2 Cause of bank distress in Nigeria
2.3 Factors hindering smooth saving habits of the rural dwellers,
CHAPTER THREE
3.0 Research designs and methodology
3.1 Sources of data
3.2 Location of data
3.3 Method of investigation
CHAPTER FOUR
3.0 Summary and finding
CHAPTER FIVE
5.0 Recommendation
5.1 Conclusion
References and bibliography
CHAPTER ONE
1.1 BACKGROUND OF STUDY
A bank can be defined as an organization whose principal operation are concerned with the accumulation of temporarily idle money of the general public from the purpose of advancing to others for expenditures.
John page defined a bank “A corporation or person(s) who accept money on current account, pays cheques on such account on demand and collects cheque for customers”
Oxfords advanced learners Dictionary define a bank as an organization or a place that provides a financial services or a place where something is stored ready for use.
The establishment of modern banking in Nigeria dates back to the colonial when the African Banking corporation was formed in 1892 to distribute currency notes of Bank of England for the British Treasury subsequent developments were encouraged by colonial trade. In the bid to address the credit needs of indigenous enterprises, Nigerian late ventured into the banking business, initially through private individual initiatives and later through deliberate government policy.
The problem of distress in the financial sector, including outright bank failure, has been observed in Nigeria as back as 1930 when the first bank failure was reported indeed, between 1930 and 1958 when the central bank of Nigeria (CBN) was establishment over 21 bank failure were recorded.
However, the degree of intensity and scope of the distress has never been as serious as has been observed since June 1989 when government directive to withdraw deposits of government and other public sector institution from bank to the CBN exposed the weak financial condition of most financial institution and the severity of problem has progressively here used.
The distressed condition has been traced to a wide range of causes, some of which are listed on literature review. Eventually, when distress came to into the scene, fears of loosing fund to the banks influenced negatively, the banking habit of the rural dwellers.
1.2 STATEMENT OF PROBLEMS
With the wave of distress spreading in the finance companies, community banks and primary mortgage institutions, a total of 24 banks were distressed in 1933, ad against 10 in 1992, 31 finance house were in default of malures obligations 456 complaints against 156 finance companies for non resumption of matured funds, however, total assets and liabilities of 395 finance firms stood at N13.38 billion in 1993 as against N2.44 billion reported for the proceeding year (1992).
THE SATIATION WAS ATTRIBUTED TO THE FOLLOWINGS
- Prevailing economic recession, policy induced hock
poor and detonating asset quality arising from large portfolio of non-performing credits non-maintenance of assets and liability.
2. Poor management bothering on sharp practice and lack of experience which is the most serious problem, associated with bank distress in the rural area.
3. Ineffective, inefficient and poor performance of the financial sector on the role of promoting and supporting economic development in the rural areas.
The problem in focus above, triggered off the interest of the researchers to carry out study in the area.
1.3 PURPOSE OF STUDY
Under the purpose of study, which in other words, is the objectives of study the researcher will try to ascertain the following
- What bank distress is all about
- How it has affected the banking habit of the rural dwellers.
- The causes of bank distress.
- To enlighten the rural dwellers on the need you putting their money in banks.
- To ascertain the percentage of commercial banks is the rural areas.
- To encourage and ensure effective rural savings.
1.4 RESEARCH QUESTION
1. What is bank distress
2. What are the causes of bank distress
3. How does bank distress affects the saving habit of the rural dwellers?
4. What can be done to prevent bank distress?
5. How should rural dwellers be enlightened on the need of putting money in bank.
1.5 SIGNIFICANCE OF STUDY
In discussing the effect of bank distress on the saving habit of the rural dwellers the researcher have some important beneficiaries which include the following:
a. THE BANKING SECTION:- From the work the management should know the damages, distress in causing the conceptions of the bank dwellers towards savings in the bank. This will make the management seat up an enunciate managerial policies that are capable phasing out cases of distress in banks.
b. THE RURAL DWELLERS: Their benefit is indirect, it doesn’t appeal to them directly since distress is the effects on their saving habit.
Distress in bank will be eradicated to enable bank flourish well, so it is that benefit (such as rehabilitating the management so as to restore confidence and safely and area) that the banks get that will influence them directly. They will see it themselves, people in the rural area will save their money in banks and get them anytime they want. They will allay the fear in the rural dweller and energies their spirit of putting their money in banks. This is a result of powerful recommendations and suggestion made in this work.
c. ACADEMIC INSTITUTION:- This work is relevant to the institution and the students in the field of management sciences. Especially those in banking and finance in the sense that it will improve their literate review purposes, some copies of this work will be kept in the institution library for subsequent researchers for further research references.
d. THE GENERAL PUBLIC:- It is also significant to everybody these include mostly the investors, pubic libraries and research institution, where copies of this work will be kept and the general public can go and get copies, read and now known what is going on at the rural areas pertaining their banking habits.
e. INVESTOR: The study exonerates fears the investors have from saving in the bank due for distress because the investors would not like to dump the little they have with the bank.
f. PUBLIC LIBRARIES:- This work will increase their stock of books for research purposes by researcher.
g. RESEARCH INSTITUTES:- It is significant to the researcher institutes, because they keep those research work for further research by researchers.
1.6 DELIMITATION SCOPE AND LIMITATIONS
Delimitation: This work is delimited to the effects of distress to the general economy the use of primary data questionnaire method and interview methods are also delimited in this project work.
SCOPE: This study covers the effects of bank distress in the saving habit of the rural dwellers.
LIMITATIONS: The following problems, were encountered during the project work.
a. TIME FACTOR: No time is specifically given for the term paper work, one will be attending lectures and at the same time researching from the work there is not time to go to the library. Achievers etc for the project work or even market survey as the need may be.
b. LACK OF RESEARCH FACTORIES:- lack of text books or reference materials which contains the effect of have distress on the saving habits of the rural dwellers were hardly seen or found which made it difficult for the researcher to get enough facts.
c. SHORT OF FINANCE:- back of money or financial problem at time limit researcher from group to the villages to get facts as a man be needed for the works.
1.7 DEFINITION OF TERMS
1. Collateral:- Stocks or bound pledged as security for repayment of a loan.
2. Unscrupulous not doing guided by coincidence not held back from dong wrong.
3. Amity: Friendship is friendly relations between persons or countries.
4. Financial intermediaries: Like finance companies primary mortgages institution etc who serve as a go-between o. link in the financial institutions.
5. Malase: feeling of badly discomfort, but without clear signs of a particular illness.
6. Parlance: use or choice of words, ways of speaking.
7. Default: Fail to p[perform a duty or to pay a debt.
8. Allay: make something (e.g) pain, trouble, excitement fears less.
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
Tags: EFFECTS OF BANK DISTRESS ON THE SAVING HABITS OF THE RURAL DWELLERS
ABSTRACT
This research work examined the “Effect of Bank distress on the saving habit of the rural dwellers” it investigated the causes and characteristic of bank distress in the Nigerian economy.
Many related literature were reviewed as the researchers collected data for this work. In remote communities where banking habit was poorly developed the exercise of changing bank notes in 1984 forced people to travel scores of mills to change their money and also made them realize that they need banks around incessant call for extension of bank branches to their areas. The effect of bank distress on the economy on the other hand included the erosion of public confidence mostly to the rural dwellers in putting their money in the banks.
TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of content
CHAPTER ONE
1.0 Introduction
1.1 Background of study
1.2 Statement of problems
1.3 Purpose of study
1.4 Research question
1.5 Significance of the study
1.6 Delimitation scope and limitation
1.7 Definition of terms
CHAPTER TWO
2.0 Review of related literature
2.1 Meaning and characteristic of distress
2.2 Cause of bank distress in Nigeria
2.3 Factors hindering smooth saving habits of the rural dwellers,
CHAPTER THREE
3.0 Research designs and methodology
3.1 Sources of data
3.2 Location of data
3.3 Method of investigation
CHAPTER FOUR
3.0 Summary and finding
CHAPTER FIVE
5.0 Recommendation
5.1 Conclusion
References and bibliography
CHAPTER ONE
1.1 BACKGROUND OF STUDY
A bank can be defined as an organization whose principal operation are concerned with the accumulation of temporarily idle money of the general public from the purpose of advancing to others for expenditures.
John page defined a bank “A corporation or person(s) who accept money on current account, pays cheques on such account on demand and collects cheque for customers”
Oxfords advanced learners Dictionary define a bank as an organization or a place that provides a financial services or a place where something is stored ready for use.
The establishment of modern banking in Nigeria dates back to the colonial when the African Banking corporation was formed in 1892 to distribute currency notes of Bank of England for the British Treasury subsequent developments were encouraged by colonial trade. In the bid to address the credit needs of indigenous enterprises, Nigerian late ventured into the banking business, initially through private individual initiatives and later through deliberate government policy.
The problem of distress in the financial sector, including outright bank failure, has been observed in Nigeria as back as 1930 when the first bank failure was reported indeed, between 1930 and 1958 when the central bank of Nigeria (CBN) was establishment over 21 bank failure were recorded.
However, the degree of intensity and scope of the distress has never been as serious as has been observed since June 1989 when government directive to withdraw deposits of government and other public sector institution from bank to the CBN exposed the weak financial condition of most financial institution and the severity of problem has progressively here used.
The distressed condition has been traced to a wide range of causes, some of which are listed on literature review. Eventually, when distress came to into the scene, fears of loosing fund to the banks influenced negatively, the banking habit of the rural dwellers.
1.2 STATEMENT OF PROBLEMS
With the wave of distress spreading in the finance companies, community banks and primary mortgage institutions, a total of 24 banks were distressed in 1933, ad against 10 in 1992, 31 finance house were in default of malures obligations 456 complaints against 156 finance companies for non resumption of matured funds, however, total assets and liabilities of 395 finance firms stood at N13.38 billion in 1993 as against N2.44 billion reported for the proceeding year (1992).
THE SATIATION WAS ATTRIBUTED TO THE FOLLOWINGS
- Prevailing economic recession, policy induced hock
poor and detonating asset quality arising from large portfolio of non-performing credits non-maintenance of assets and liability.
2. Poor management bothering on sharp practice and lack of experience which is the most serious problem, associated with bank distress in the rural area.
3. Ineffective, inefficient and poor performance of the financial sector on the role of promoting and supporting economic development in the rural areas.
The problem in focus above, triggered off the interest of the researchers to carry out study in the area.
1.3 PURPOSE OF STUDY
Under the purpose of study, which in other words, is the objectives of study the researcher will try to ascertain the following
- What bank distress is all about
- How it has affected the banking habit of the rural dwellers.
- The causes of bank distress.
- To enlighten the rural dwellers on the need you putting their money in banks.
- To ascertain the percentage of commercial banks is the rural areas.
- To encourage and ensure effective rural savings.
1.4 RESEARCH QUESTION
1. What is bank distress
2. What are the causes of bank distress
3. How does bank distress affects the saving habit of the rural dwellers?
4. What can be done to prevent bank distress?
5. How should rural dwellers be enlightened on the need of putting money in bank.
1.5 SIGNIFICANCE OF STUDY
In discussing the effect of bank distress on the saving habit of the rural dwellers the researcher have some important beneficiaries which include the following:
a. THE BANKING SECTION:- From the work the management should know the damages, distress in causing the conceptions of the bank dwellers towards savings in the bank. This will make the management seat up an enunciate managerial policies that are capable phasing out cases of distress in banks.
b. THE RURAL DWELLERS: Their benefit is indirect, it doesn’t appeal to them directly since distress is the effects on their saving habit.
Distress in bank will be eradicated to enable bank flourish well, so it is that benefit (such as rehabilitating the management so as to restore confidence and safely and area) that the banks get that will influence them directly. They will see it themselves, people in the rural area will save their money in banks and get them anytime they want. They will allay the fear in the rural dweller and energies their spirit of putting their money in banks. This is a result of powerful recommendations and suggestion made in this work.
c. ACADEMIC INSTITUTION:- This work is relevant to the institution and the students in the field of management sciences. Especially those in banking and finance in the sense that it will improve their literate review purposes, some copies of this work will be kept in the institution library for subsequent researchers for further research references.
d. THE GENERAL PUBLIC:- It is also significant to everybody these include mostly the investors, pubic libraries and research institution, where copies of this work will be kept and the general public can go and get copies, read and now known what is going on at the rural areas pertaining their banking habits.
e. INVESTOR: The study exonerates fears the investors have from saving in the bank due for distress because the investors would not like to dump the little they have with the bank.
f. PUBLIC LIBRARIES:- This work will increase their stock of books for research purposes by researcher.
g. RESEARCH INSTITUTES:- It is significant to the researcher institutes, because they keep those research work for further research by researchers.
1.6 DELIMITATION SCOPE AND LIMITATIONS
Delimitation: This work is delimited to the effects of distress to the general economy the use of primary data questionnaire method and interview methods are also delimited in this project work.
SCOPE: This study covers the effects of bank distress in the saving habit of the rural dwellers.
LIMITATIONS: The following problems, were encountered during the project work.
a. TIME FACTOR: No time is specifically given for the term paper work, one will be attending lectures and at the same time researching from the work there is not time to go to the library. Achievers etc for the project work or even market survey as the need may be.
b. LACK OF RESEARCH FACTORIES:- lack of text books or reference materials which contains the effect of have distress on the saving habits of the rural dwellers were hardly seen or found which made it difficult for the researcher to get enough facts.
c. SHORT OF FINANCE:- back of money or financial problem at time limit researcher from group to the villages to get facts as a man be needed for the works.
1.7 DEFINITION OF TERMS
1. Collateral:- Stocks or bound pledged as security for repayment of a loan.
2. Unscrupulous not doing guided by coincidence not held back from dong wrong.
3. Amity: Friendship is friendly relations between persons or countries.
4. Financial intermediaries: Like finance companies primary mortgages institution etc who serve as a go-between o. link in the financial institutions.
5. Malase: feeling of badly discomfort, but without clear signs of a particular illness.
6. Parlance: use or choice of words, ways of speaking.
7. Default: Fail to p[perform a duty or to pay a debt.
8. Allay: make something (e.g) pain, trouble, excitement fears less.
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
Tags: EFFECTS OF BANK DISTRESS ON THE SAVING HABITS OF THE RURAL DWELLERS
PROJECT PROPOSAL
Background of The Study
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
CHAPTER ONE
INTRODUCTION
Background of the study
The role of banks and other financial institutions in economic development has been richly articulated in the literature. Pioneer contribution of Schumpeter (1934) was of the view that financial institutions are necessary condition for economic development. This view has been variously corroborated by other scholars like Goldsmith (1969), Cameron (1972) etc. In view of the importance of the financial sector in economic development, bank failures are widely regarded in all countries as more damaging to the economy than failures of other types of firms. For instance, bank failures may produce losses to depositors and other creditors, break long-standing bank – customer loan relationships, disrupt the payments system and spill over to other banks, financial institutions and markets, and even to the entire macro-economy.
The foregoing is often a popular justification for government – provided safety nets (Santomero, 1997). A deposit insurance scheme is one of the components of the official safety-nets. The other components of the official safety-nets are effective supervision and lender-of-last-resort facility by a central bank through the provision of temporary liquidity support to solvent depository institutions. Essentially, a bank deposit insurance scheme is a financial guarantee to depositors, particularly the small ones, in the event of a bank failure. Bank deposit insurance scheme was developed out of the need to protect depositors, especially the uninformed, from the risk of loss; and to also protect the banking system from instability occasioned by runs and loss of confidence. The practice of the Deposit Insurance Scheme in Nigeria commenced with the promulgation of Decree 22 of 1988, which established the Nigeria Deposit Insurance Corporation (NDIC), the Agency vested with the responsibility of implementing the scheme in the country.
Although, the NDIC commenced operations in March 1989, it is a a statutory body established under the NDIC Act No 16, 2006 (NDIC, 2010). The scheme was introduced to provide a further layer of protection to depositors and complement the role of prudent bank management as well as the Central Bank of Nigeria’s (CBN’s) supervisory activities in ensuring a safe and sound banking system. It was also considered as an additional framework to serve as a vehicle for addressing some of the challenges that followed the deregulation of the financial system under the Structural Adjustment Programme (SAP) which was introduced in 1986.
The Deposit Insurance Scheme, being implemented by the NDIC, was not designed as a Pay-box but rather as a Risk Minimiser, with powers and responsibilities to insure deposits, monitor the health of insured institutions and provide an orderly failure resolution mechanism, as clearly enunciated in the Corporation’s enabling law. It is against this background that this study is being devoted to evaluating the effectiveness of the Deposit Insurance Practice in Financial Sector Stability in Nigeria.
Statement of Problem
The deregulatory approach to monetary management and the resultant proliferation of banking and financial institutions in the early 1990s brought about increased number of players far beyond what could be effectively managed by the Central Bank of Nigeria (CBN). As a result, the banking industry witnessed serious waves of distress that caused crisis of confidence in the industry. Since then, the CBN and the Nigerian Deposit Insurance Corporation (NDIC) have intensified efforts towards achieving a healthy operating environment for in the banking sector. A prominent step taken by the CBN was the 2005 recapitalisation exercise during which the minimum capital base requirement of all Nigerian commercial banks was raised to N25 billion from N2 billion (Adegbaju and Olokoyo, 2008).
The success of the deposit insurance practice and the recapitalisation exercise in ensuring financial stability in the banking sector has been a subject of debate among analysts. Somoye (2008) analysed the published audited accounts of twenty (20) out of twenty five (25) banks that emerged from the consolidation exercise and found that the consolidation programme has not improved the overall performances of banks significantly. The joint special examination of the 24 deposit money banks conducted by the CBN and NDIC in 2009 to ascertain their true financial condition revealed serious weaknesses in corporate governance which manifested in, poor risk management; weak board and management oversight; inaccurate financial reporting; abuse and fraudulent use of subsidiaries; poor book keeping practices; non-compliance with banking laws, rules and regulations; and non-performing insider-related credits, among others.
All the observed weaknesses culminated in huge non-performing loans and insolvency of varying degrees in many of the banks. The development led to the removal of the executive managements of 8 out of the existing 24 banks (Oceanic bank, Intercontinental bank, Union bank, Finbank, Afribank, Bank PHB, Equitorial Trust Bank, and Spring Bank) and the injection of a bail-out sum of N620 billion by the CBN as liquidity support to the problem banks (NDIC, 2009). In August, 2011, The Federal Government through the NDIC assumed ownership of three of the problem banks: Afribank, Bank PHB and Spring Bank via the “Bridge Bank” mechanism following the revocation of their licences by the Central Bank of Nigeria (Komolafe and Kolawole, 2011).
Due to these developments, the NDIC has been under pressure to perform its responsibility of restoring stability to the banking sector. The question of the effectiveness of the deposit insurance practice in ensuring stability in the banking sector remains an open one both from a theoretical and from an empirical perspective. This study seeks to evaluate the effectiveness of the deposit insurance practice in Nigeria.
Objectives of The Study
Specifically, the study aims to:
(i) review the public policy objectives of the Deposit Insurance Scheme in Nigeria;
(ii) evaluate the effectiveness of the deposit insurance practice in maintaining stability in the Nigeria banking sector;
(iii) examine the issues pertaining to the establishment and maintenance of an effective deposit insurance system in Nigeria;
(iv) identify the challenges facing the scheme as well as the prospects for the scheme in Nigeria.
Research Questions
This study shall be guided by the following research questions:
(i) What are the public policy objectives that necessitated the deposit insurance practice in Nigeria?
(ii) Does deposit insurance practice enhance financial stability in Nigeria?
(iii) What are the issues that are pertinent to the effective maintenance of deposit insurance system in Nigeria?
(iv) What are the challenges facing the deposit insurance practice and how could they be tackled in Nigeria.
Research Methodology and Sources of Data
The method of data analysis to be adopted in this study is descriptive statistics. Secondary data shall be used in this study and they shall be sourced from Nigerian Deposit Insurance Corporation (NDIC) and Central Bank of Nigeria (CBN) publications obtained from their respective offices and official websites. Relevant data and information that depict the operational activities of the in Nigeria over the years are presented analysed using tables, ratios and percentages in order to have a better picture of deposit insurance practice in Nigeria.
Scope of The Study
This study shall focus on the operations of the Nigeria Deposit Insurance Corporation (NDIC). The study shall evaluate the effectiveness of the deposit insurance practice in maintaining financial stability in Nigeria by appraising the performance of the NDIC in terms of deposit guarantee, bank supervision, distress resolution and bank liquidation. Crucial issues relating to the deposit insurance system in Nigeria shall be raised with major challenges identified. The effectiveness of the deposit insurance practice would be investigate empirically with the data spanning from 2001 to 2010 due to non-availability of data.
Significance of The Study
In the wake of bank failures, the economy suffered severe stress. Many depositors lost their hard-earned money; many suffered starvation because their breadwinners lost their jobs in the process. In a number of cases, depositors who lost their life savings die because of apparent hopelessness. People from different spheres of life have commented on this seemingly topical issue as it touches the very fabric of the national economic life. This study is being embarked upon as a way of further investigating the issue with a view to evaluating the effectiveness of the Deposit Insurance Practice in achieving stability in the banking sector.
The research will be of benefit to practicing bankers, students of Economics and Business Studies and other individuals seeking to know more on deposit insurance practice in Nigeria as a crucial factor in achieving stability in the financial sector.
Plan of The Study
This project is divided into five chapters. The first chapter provides the background of the subject matter justifying the need for the study. Chapter two shall present related literature concerning deposit insurance practice. The chapter also discusses the theoretical framework for the study. The research methodology, which includes the research design, sources of data, method of data analysis etc are stated in chapter three while data presentation and analysis shall be made in chapter four. Concluding comments in chapter five shall reflect on the summary, conclusion and recommendations based on the findings of the study.
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
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 (#3000) 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
Tags: ROLE OF DEPOSIT INSURANCE PRACTICE IN BANKING SECTOR STABILITY IN NIGERIA (2001 - 2010)
PROJECT PROPOSAL
Background of The Study
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
CHAPTER ONE
INTRODUCTION
Background of the study
The role of banks and other financial institutions in economic development has been richly articulated in the literature. Pioneer contribution of Schumpeter (1934) was of the view that financial institutions are necessary condition for economic development. This view has been variously corroborated by other scholars like Goldsmith (1969), Cameron (1972) etc. In view of the importance of the financial sector in economic development, bank failures are widely regarded in all countries as more damaging to the economy than failures of other types of firms. For instance, bank failures may produce losses to depositors and other creditors, break long-standing bank – customer loan relationships, disrupt the payments system and spill over to other banks, financial institutions and markets, and even to the entire macro-economy.
The foregoing is often a popular justification for government – provided safety nets (Santomero, 1997). A deposit insurance scheme is one of the components of the official safety-nets. The other components of the official safety-nets are effective supervision and lender-of-last-resort facility by a central bank through the provision of temporary liquidity support to solvent depository institutions. Essentially, a bank deposit insurance scheme is a financial guarantee to depositors, particularly the small ones, in the event of a bank failure. Bank deposit insurance scheme was developed out of the need to protect depositors, especially the uninformed, from the risk of loss; and to also protect the banking system from instability occasioned by runs and loss of confidence. The practice of the Deposit Insurance Scheme in Nigeria commenced with the promulgation of Decree 22 of 1988, which established the Nigeria Deposit Insurance Corporation (NDIC), the Agency vested with the responsibility of implementing the scheme in the country.
Although, the NDIC commenced operations in March 1989, it is a a statutory body established under the NDIC Act No 16, 2006 (NDIC, 2010). The scheme was introduced to provide a further layer of protection to depositors and complement the role of prudent bank management as well as the Central Bank of Nigeria’s (CBN’s) supervisory activities in ensuring a safe and sound banking system. It was also considered as an additional framework to serve as a vehicle for addressing some of the challenges that followed the deregulation of the financial system under the Structural Adjustment Programme (SAP) which was introduced in 1986.
The Deposit Insurance Scheme, being implemented by the NDIC, was not designed as a Pay-box but rather as a Risk Minimiser, with powers and responsibilities to insure deposits, monitor the health of insured institutions and provide an orderly failure resolution mechanism, as clearly enunciated in the Corporation’s enabling law. It is against this background that this study is being devoted to evaluating the effectiveness of the Deposit Insurance Practice in Financial Sector Stability in Nigeria.
Statement of Problem
The deregulatory approach to monetary management and the resultant proliferation of banking and financial institutions in the early 1990s brought about increased number of players far beyond what could be effectively managed by the Central Bank of Nigeria (CBN). As a result, the banking industry witnessed serious waves of distress that caused crisis of confidence in the industry. Since then, the CBN and the Nigerian Deposit Insurance Corporation (NDIC) have intensified efforts towards achieving a healthy operating environment for in the banking sector. A prominent step taken by the CBN was the 2005 recapitalisation exercise during which the minimum capital base requirement of all Nigerian commercial banks was raised to N25 billion from N2 billion (Adegbaju and Olokoyo, 2008).
The success of the deposit insurance practice and the recapitalisation exercise in ensuring financial stability in the banking sector has been a subject of debate among analysts. Somoye (2008) analysed the published audited accounts of twenty (20) out of twenty five (25) banks that emerged from the consolidation exercise and found that the consolidation programme has not improved the overall performances of banks significantly. The joint special examination of the 24 deposit money banks conducted by the CBN and NDIC in 2009 to ascertain their true financial condition revealed serious weaknesses in corporate governance which manifested in, poor risk management; weak board and management oversight; inaccurate financial reporting; abuse and fraudulent use of subsidiaries; poor book keeping practices; non-compliance with banking laws, rules and regulations; and non-performing insider-related credits, among others.
All the observed weaknesses culminated in huge non-performing loans and insolvency of varying degrees in many of the banks. The development led to the removal of the executive managements of 8 out of the existing 24 banks (Oceanic bank, Intercontinental bank, Union bank, Finbank, Afribank, Bank PHB, Equitorial Trust Bank, and Spring Bank) and the injection of a bail-out sum of N620 billion by the CBN as liquidity support to the problem banks (NDIC, 2009). In August, 2011, The Federal Government through the NDIC assumed ownership of three of the problem banks: Afribank, Bank PHB and Spring Bank via the “Bridge Bank” mechanism following the revocation of their licences by the Central Bank of Nigeria (Komolafe and Kolawole, 2011).
Due to these developments, the NDIC has been under pressure to perform its responsibility of restoring stability to the banking sector. The question of the effectiveness of the deposit insurance practice in ensuring stability in the banking sector remains an open one both from a theoretical and from an empirical perspective. This study seeks to evaluate the effectiveness of the deposit insurance practice in Nigeria.
Objectives of The Study
Specifically, the study aims to:
(i) review the public policy objectives of the Deposit Insurance Scheme in Nigeria;
(ii) evaluate the effectiveness of the deposit insurance practice in maintaining stability in the Nigeria banking sector;
(iii) examine the issues pertaining to the establishment and maintenance of an effective deposit insurance system in Nigeria;
(iv) identify the challenges facing the scheme as well as the prospects for the scheme in Nigeria.
Research Questions
This study shall be guided by the following research questions:
(i) What are the public policy objectives that necessitated the deposit insurance practice in Nigeria?
(ii) Does deposit insurance practice enhance financial stability in Nigeria?
(iii) What are the issues that are pertinent to the effective maintenance of deposit insurance system in Nigeria?
(iv) What are the challenges facing the deposit insurance practice and how could they be tackled in Nigeria.
Research Methodology and Sources of Data
The method of data analysis to be adopted in this study is descriptive statistics. Secondary data shall be used in this study and they shall be sourced from Nigerian Deposit Insurance Corporation (NDIC) and Central Bank of Nigeria (CBN) publications obtained from their respective offices and official websites. Relevant data and information that depict the operational activities of the in Nigeria over the years are presented analysed using tables, ratios and percentages in order to have a better picture of deposit insurance practice in Nigeria.
Scope of The Study
This study shall focus on the operations of the Nigeria Deposit Insurance Corporation (NDIC). The study shall evaluate the effectiveness of the deposit insurance practice in maintaining financial stability in Nigeria by appraising the performance of the NDIC in terms of deposit guarantee, bank supervision, distress resolution and bank liquidation. Crucial issues relating to the deposit insurance system in Nigeria shall be raised with major challenges identified. The effectiveness of the deposit insurance practice would be investigate empirically with the data spanning from 2001 to 2010 due to non-availability of data.
Significance of The Study
In the wake of bank failures, the economy suffered severe stress. Many depositors lost their hard-earned money; many suffered starvation because their breadwinners lost their jobs in the process. In a number of cases, depositors who lost their life savings die because of apparent hopelessness. People from different spheres of life have commented on this seemingly topical issue as it touches the very fabric of the national economic life. This study is being embarked upon as a way of further investigating the issue with a view to evaluating the effectiveness of the Deposit Insurance Practice in achieving stability in the banking sector.
The research will be of benefit to practicing bankers, students of Economics and Business Studies and other individuals seeking to know more on deposit insurance practice in Nigeria as a crucial factor in achieving stability in the financial sector.
Plan of The Study
This project is divided into five chapters. The first chapter provides the background of the subject matter justifying the need for the study. Chapter two shall present related literature concerning deposit insurance practice. The chapter also discusses the theoretical framework for the study. The research methodology, which includes the research design, sources of data, method of data analysis etc are stated in chapter three while data presentation and analysis shall be made in chapter four. Concluding comments in chapter five shall reflect on the summary, conclusion and recommendations based on the findings of the study.
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
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 (#3000) 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
Tags: ROLE OF DEPOSIT INSURANCE PRACTICE IN BANKING SECTOR STABILITY IN NIGERIA (2001 - 2010)
PROJECT PROPOSAL
Background of The Study
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
CHAPTER ONE
INTRODUCTION
Background of the study
The role of banks and other financial institutions in economic development has been richly articulated in the literature. Pioneer contribution of Schumpeter (1934) was of the view that financial institutions are necessary condition for economic development. This view has been variously corroborated by other scholars like Goldsmith (1969), Cameron (1972) etc. In view of the importance of the financial sector in economic development, bank failures are widely regarded in all countries as more damaging to the economy than failures of other types of firms. For instance, bank failures may produce losses to depositors and other creditors, break long-standing bank – customer loan relationships, disrupt the payments system and spill over to other banks, financial institutions and markets, and even to the entire macro-economy.
The foregoing is often a popular justification for government – provided safety nets (Santomero, 1997). A deposit insurance scheme is one of the components of the official safety-nets. The other components of the official safety-nets are effective supervision and lender-of-last-resort facility by a central bank through the provision of temporary liquidity support to solvent depository institutions. Essentially, a bank deposit insurance scheme is a financial guarantee to depositors, particularly the small ones, in the event of a bank failure. Bank deposit insurance scheme was developed out of the need to protect depositors, especially the uninformed, from the risk of loss; and to also protect the banking system from instability occasioned by runs and loss of confidence. The practice of the Deposit Insurance Scheme in Nigeria commenced with the promulgation of Decree 22 of 1988, which established the Nigeria Deposit Insurance Corporation (NDIC), the Agency vested with the responsibility of implementing the scheme in the country.
Although, the NDIC commenced operations in March 1989, it is a a statutory body established under the NDIC Act No 16, 2006 (NDIC, 2010). The scheme was introduced to provide a further layer of protection to depositors and complement the role of prudent bank management as well as the Central Bank of Nigeria’s (CBN’s) supervisory activities in ensuring a safe and sound banking system. It was also considered as an additional framework to serve as a vehicle for addressing some of the challenges that followed the deregulation of the financial system under the Structural Adjustment Programme (SAP) which was introduced in 1986.
The Deposit Insurance Scheme, being implemented by the NDIC, was not designed as a Pay-box but rather as a Risk Minimiser, with powers and responsibilities to insure deposits, monitor the health of insured institutions and provide an orderly failure resolution mechanism, as clearly enunciated in the Corporation’s enabling law. It is against this background that this study is being devoted to evaluating the effectiveness of the Deposit Insurance Practice in Financial Sector Stability in Nigeria.
Statement of Problem
The deregulatory approach to monetary management and the resultant proliferation of banking and financial institutions in the early 1990s brought about increased number of players far beyond what could be effectively managed by the Central Bank of Nigeria (CBN). As a result, the banking industry witnessed serious waves of distress that caused crisis of confidence in the industry. Since then, the CBN and the Nigerian Deposit Insurance Corporation (NDIC) have intensified efforts towards achieving a healthy operating environment for in the banking sector. A prominent step taken by the CBN was the 2005 recapitalisation exercise during which the minimum capital base requirement of all Nigerian commercial banks was raised to N25 billion from N2 billion (Adegbaju and Olokoyo, 2008).
The success of the deposit insurance practice and the recapitalisation exercise in ensuring financial stability in the banking sector has been a subject of debate among analysts. Somoye (2008) analysed the published audited accounts of twenty (20) out of twenty five (25) banks that emerged from the consolidation exercise and found that the consolidation programme has not improved the overall performances of banks significantly. The joint special examination of the 24 deposit money banks conducted by the CBN and NDIC in 2009 to ascertain their true financial condition revealed serious weaknesses in corporate governance which manifested in, poor risk management; weak board and management oversight; inaccurate financial reporting; abuse and fraudulent use of subsidiaries; poor book keeping practices; non-compliance with banking laws, rules and regulations; and non-performing insider-related credits, among others.
All the observed weaknesses culminated in huge non-performing loans and insolvency of varying degrees in many of the banks. The development led to the removal of the executive managements of 8 out of the existing 24 banks (Oceanic bank, Intercontinental bank, Union bank, Finbank, Afribank, Bank PHB, Equitorial Trust Bank, and Spring Bank) and the injection of a bail-out sum of N620 billion by the CBN as liquidity support to the problem banks (NDIC, 2009). In August, 2011, The Federal Government through the NDIC assumed ownership of three of the problem banks: Afribank, Bank PHB and Spring Bank via the “Bridge Bank” mechanism following the revocation of their licences by the Central Bank of Nigeria (Komolafe and Kolawole, 2011).
Due to these developments, the NDIC has been under pressure to perform its responsibility of restoring stability to the banking sector. The question of the effectiveness of the deposit insurance practice in ensuring stability in the banking sector remains an open one both from a theoretical and from an empirical perspective. This study seeks to evaluate the effectiveness of the deposit insurance practice in Nigeria.
Objectives of The Study
Specifically, the study aims to:
(i) review the public policy objectives of the Deposit Insurance Scheme in Nigeria;
(ii) evaluate the effectiveness of the deposit insurance practice in maintaining stability in the Nigeria banking sector;
(iii) examine the issues pertaining to the establishment and maintenance of an effective deposit insurance system in Nigeria;
(iv) identify the challenges facing the scheme as well as the prospects for the scheme in Nigeria.
Research Questions
This study shall be guided by the following research questions:
(i) What are the public policy objectives that necessitated the deposit insurance practice in Nigeria?
(ii) Does deposit insurance practice enhance financial stability in Nigeria?
(iii) What are the issues that are pertinent to the effective maintenance of deposit insurance system in Nigeria?
(iv) What are the challenges facing the deposit insurance practice and how could they be tackled in Nigeria.
Research Methodology and Sources of Data
The method of data analysis to be adopted in this study is descriptive statistics. Secondary data shall be used in this study and they shall be sourced from Nigerian Deposit Insurance Corporation (NDIC) and Central Bank of Nigeria (CBN) publications obtained from their respective offices and official websites. Relevant data and information that depict the operational activities of the in Nigeria over the years are presented analysed using tables, ratios and percentages in order to have a better picture of deposit insurance practice in Nigeria.
Scope of The Study
This study shall focus on the operations of the Nigeria Deposit Insurance Corporation (NDIC). The study shall evaluate the effectiveness of the deposit insurance practice in maintaining financial stability in Nigeria by appraising the performance of the NDIC in terms of deposit guarantee, bank supervision, distress resolution and bank liquidation. Crucial issues relating to the deposit insurance system in Nigeria shall be raised with major challenges identified. The effectiveness of the deposit insurance practice would be investigate empirically with the data spanning from 2001 to 2010 due to non-availability of data.
Significance of The Study
In the wake of bank failures, the economy suffered severe stress. Many depositors lost their hard-earned money; many suffered starvation because their breadwinners lost their jobs in the process. In a number of cases, depositors who lost their life savings die because of apparent hopelessness. People from different spheres of life have commented on this seemingly topical issue as it touches the very fabric of the national economic life. This study is being embarked upon as a way of further investigating the issue with a view to evaluating the effectiveness of the Deposit Insurance Practice in achieving stability in the banking sector.
The research will be of benefit to practicing bankers, students of Economics and Business Studies and other individuals seeking to know more on deposit insurance practice in Nigeria as a crucial factor in achieving stability in the financial sector.
Plan of The Study
This project is divided into five chapters. The first chapter provides the background of the subject matter justifying the need for the study. Chapter two shall present related literature concerning deposit insurance practice. The chapter also discusses the theoretical framework for the study. The research methodology, which includes the research design, sources of data, method of data analysis etc are stated in chapter three while data presentation and analysis shall be made in chapter four. Concluding comments in chapter five shall reflect on the summary, conclusion and recommendations based on the findings of the study.
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
HOW TO GET THE FULL PROJECT WORK
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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
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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
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www.worldofnolimit.com
Tags: ROLE OF DEPOSIT INSURANCE PRACTICE IN BANKING SECTOR STABILITY IN NIGERIA (2001 - 2010)
PROJECT PROPOSAL
Background of The Study
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
CHAPTER ONE
INTRODUCTION
Background of the study
The role of banks and other financial institutions in economic development has been richly articulated in the literature. Pioneer contribution of Schumpeter (1934) was of the view that financial institutions are necessary condition for economic development. This view has been variously corroborated by other scholars like Goldsmith (1969), Cameron (1972) etc. In view of the importance of the financial sector in economic development, bank failures are widely regarded in all countries as more damaging to the economy than failures of other types of firms. For instance, bank failures may produce losses to depositors and other creditors, break long-standing bank – customer loan relationships, disrupt the payments system and spill over to other banks, financial institutions and markets, and even to the entire macro-economy.
The foregoing is often a popular justification for government – provided safety nets (Santomero, 1997). A deposit insurance scheme is one of the components of the official safety-nets. The other components of the official safety-nets are effective supervision and lender-of-last-resort facility by a central bank through the provision of temporary liquidity support to solvent depository institutions. Essentially, a bank deposit insurance scheme is a financial guarantee to depositors, particularly the small ones, in the event of a bank failure. Bank deposit insurance scheme was developed out of the need to protect depositors, especially the uninformed, from the risk of loss; and to also protect the banking system from instability occasioned by runs and loss of confidence. The practice of the Deposit Insurance Scheme in Nigeria commenced with the promulgation of Decree 22 of 1988, which established the Nigeria Deposit Insurance Corporation (NDIC), the Agency vested with the responsibility of implementing the scheme in the country.
Although, the NDIC commenced operations in March 1989, it is a a statutory body established under the NDIC Act No 16, 2006 (NDIC, 2010). The scheme was introduced to provide a further layer of protection to depositors and complement the role of prudent bank management as well as the Central Bank of Nigeria’s (CBN’s) supervisory activities in ensuring a safe and sound banking system. It was also considered as an additional framework to serve as a vehicle for addressing some of the challenges that followed the deregulation of the financial system under the Structural Adjustment Programme (SAP) which was introduced in 1986.
The Deposit Insurance Scheme, being implemented by the NDIC, was not designed as a Pay-box but rather as a Risk Minimiser, with powers and responsibilities to insure deposits, monitor the health of insured institutions and provide an orderly failure resolution mechanism, as clearly enunciated in the Corporation’s enabling law. It is against this background that this study is being devoted to evaluating the effectiveness of the Deposit Insurance Practice in Financial Sector Stability in Nigeria.
Statement of Problem
The deregulatory approach to monetary management and the resultant proliferation of banking and financial institutions in the early 1990s brought about increased number of players far beyond what could be effectively managed by the Central Bank of Nigeria (CBN). As a result, the banking industry witnessed serious waves of distress that caused crisis of confidence in the industry. Since then, the CBN and the Nigerian Deposit Insurance Corporation (NDIC) have intensified efforts towards achieving a healthy operating environment for in the banking sector. A prominent step taken by the CBN was the 2005 recapitalisation exercise during which the minimum capital base requirement of all Nigerian commercial banks was raised to N25 billion from N2 billion (Adegbaju and Olokoyo, 2008).
The success of the deposit insurance practice and the recapitalisation exercise in ensuring financial stability in the banking sector has been a subject of debate among analysts. Somoye (2008) analysed the published audited accounts of twenty (20) out of twenty five (25) banks that emerged from the consolidation exercise and found that the consolidation programme has not improved the overall performances of banks significantly. The joint special examination of the 24 deposit money banks conducted by the CBN and NDIC in 2009 to ascertain their true financial condition revealed serious weaknesses in corporate governance which manifested in, poor risk management; weak board and management oversight; inaccurate financial reporting; abuse and fraudulent use of subsidiaries; poor book keeping practices; non-compliance with banking laws, rules and regulations; and non-performing insider-related credits, among others.
All the observed weaknesses culminated in huge non-performing loans and insolvency of varying degrees in many of the banks. The development led to the removal of the executive managements of 8 out of the existing 24 banks (Oceanic bank, Intercontinental bank, Union bank, Finbank, Afribank, Bank PHB, Equitorial Trust Bank, and Spring Bank) and the injection of a bail-out sum of N620 billion by the CBN as liquidity support to the problem banks (NDIC, 2009). In August, 2011, The Federal Government through the NDIC assumed ownership of three of the problem banks: Afribank, Bank PHB and Spring Bank via the “Bridge Bank” mechanism following the revocation of their licences by the Central Bank of Nigeria (Komolafe and Kolawole, 2011).
Due to these developments, the NDIC has been under pressure to perform its responsibility of restoring stability to the banking sector. The question of the effectiveness of the deposit insurance practice in ensuring stability in the banking sector remains an open one both from a theoretical and from an empirical perspective. This study seeks to evaluate the effectiveness of the deposit insurance practice in Nigeria.
Objectives of The Study
Specifically, the study aims to:
(i) review the public policy objectives of the Deposit Insurance Scheme in Nigeria;
(ii) evaluate the effectiveness of the deposit insurance practice in maintaining stability in the Nigeria banking sector;
(iii) examine the issues pertaining to the establishment and maintenance of an effective deposit insurance system in Nigeria;
(iv) identify the challenges facing the scheme as well as the prospects for the scheme in Nigeria.
Research Questions
This study shall be guided by the following research questions:
(i) What are the public policy objectives that necessitated the deposit insurance practice in Nigeria?
(ii) Does deposit insurance practice enhance financial stability in Nigeria?
(iii) What are the issues that are pertinent to the effective maintenance of deposit insurance system in Nigeria?
(iv) What are the challenges facing the deposit insurance practice and how could they be tackled in Nigeria.
Research Methodology and Sources of Data
The method of data analysis to be adopted in this study is descriptive statistics. Secondary data shall be used in this study and they shall be sourced from Nigerian Deposit Insurance Corporation (NDIC) and Central Bank of Nigeria (CBN) publications obtained from their respective offices and official websites. Relevant data and information that depict the operational activities of the in Nigeria over the years are presented analysed using tables, ratios and percentages in order to have a better picture of deposit insurance practice in Nigeria.
Scope of The Study
This study shall focus on the operations of the Nigeria Deposit Insurance Corporation (NDIC). The study shall evaluate the effectiveness of the deposit insurance practice in maintaining financial stability in Nigeria by appraising the performance of the NDIC in terms of deposit guarantee, bank supervision, distress resolution and bank liquidation. Crucial issues relating to the deposit insurance system in Nigeria shall be raised with major challenges identified. The effectiveness of the deposit insurance practice would be investigate empirically with the data spanning from 2001 to 2010 due to non-availability of data.
Significance of The Study
In the wake of bank failures, the economy suffered severe stress. Many depositors lost their hard-earned money; many suffered starvation because their breadwinners lost their jobs in the process. In a number of cases, depositors who lost their life savings die because of apparent hopelessness. People from different spheres of life have commented on this seemingly topical issue as it touches the very fabric of the national economic life. This study is being embarked upon as a way of further investigating the issue with a view to evaluating the effectiveness of the Deposit Insurance Practice in achieving stability in the banking sector.
The research will be of benefit to practicing bankers, students of Economics and Business Studies and other individuals seeking to know more on deposit insurance practice in Nigeria as a crucial factor in achieving stability in the financial sector.
Plan of The Study
This project is divided into five chapters. The first chapter provides the background of the subject matter justifying the need for the study. Chapter two shall present related literature concerning deposit insurance practice. The chapter also discusses the theoretical framework for the study. The research methodology, which includes the research design, sources of data, method of data analysis etc are stated in chapter three while data presentation and analysis shall be made in chapter four. Concluding comments in chapter five shall reflect on the summary, conclusion and recommendations based on the findings of the study.
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
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
Tags: ROLE OF DEPOSIT INSURANCE PRACTICE IN BANKING SECTOR STABILITY IN NIGERIA (2001 - 2010)
CHAPTER ONE
INTRODUCTION
Background of Study
The central bank of Nigeria CBN was establishing by the central bank of Nigeria act of 1958 and commences operations on the 1st of July 1959.
The principal objectives of the central bank of Nigeria was basically on the issuance of legal tender currency in Nigeria and the central bank of Nigeria is also saddle with the responsibility of maintaining the nations external reserve and value of the legal tender currency in other to safeguard the international value of the nation’s currency.
Some of the functions of the central bank of Nigeria also include promoting monetary stability and a sound financial system. They also serve as the banker and the financial adviser to the federal government on economy decisions. The CBN also serve as bankers to other banks within Nigeria and abroad.
The central bank of Nigeria play a major role in the development of Nigeria economy, the bank has been saddle with various responsibilities to ensure economy development.
The CBN has played a major role in the development of agriculture in the country through the Agricultural Credit Guaranty scheme Fund (ACGSF). The scheme was established by decree no. 20 of 1977, and started operation in April, 1978. Its original share capital and paid-up capital were one hundred million naira and eighty six million and six hundred thousand naira respectively. The federal government of Nigeria holds 60% and the central bank of Nigeria 40% of the shares. The capital based of the scheme was increase to three billion naira in March 2001. The funds guarantees credit fertilities to farmers. The fund is solely managed by the central bank of Nigeria which handles the day to day activities of the scheme.
The central bank of Nigeria has also play a vital role in the development of small and medium enterprises trough the establishment of the small and medium enterprise equity investment scheme. The scheme is a voluntary initiative of the bankers committee approved at its 26th meeting held on the 21st of December 1999. The initiative was in responsive of the federal government concerns and policy measures for the promotion of small and medium enterprises (SMEs) as vehicle for
rapid industrialization, sustainable economy development, poverty alleviation and employment generation.
The scheme require all bank in Nigeria to set aside ten (10) percent of their profit after tax for equity investment and promotion of small and medium scale enterprises. The ten (10) percent of the profit after tax to be set aside annually shall be invested in small and medium scale enterprises as the banking industry contribution to the government effort towards stimulating economy growth, developing local technology and generating employment. The central bank is saddle with the responsibility of ensuring absolute compliance of the banks towards the successful realization of the scheme.
The central bank of Nigeria established the infrastructure finance office on March 01 2010. The mandate of the office is to among others; evolve a sustainable financing frame work to stimulate long-term financing for infrastructural development in the country. The bank has undertaken some steps to improve the sectors as follows;
The bank provided three hundred billion fertility for investment in debentures to be issued by the bank of industry in accordance with section 31 of the CBN act 2007, for investment in power and aviation projects. As part of measures by the CBN to further encourage banks to lend to the real sector of the economy, particularly SMEs, infrastructural and agriculture, the board of directors of the bank has approved the amendment of the prudential guidelines on loan loss provisioning and rule and regulations on margin lending.
We can’t talk about the role the central bank of Nigeria has played on the Nigeria economy without mentioning the impact the CBN bank consolidation. The central bank recent reform (consolidation) that employed certain measure to strengthen the Nigeria banking system by drastically increasing the minimum capital requirement from two million naira to twenty-five billion naira. Through review of policy documents official report and economic information on the banking sector, it became evident the consolidation of banks led to a remarkable reduction of banks from 89 to 25 by merge, acquisition, initial public offer and other means. The bank consolidation has resulted in making banks more efficient and reliable and also, their intermediary potentials have also been revised.
Statement of Problem
The central bank of Nigeria must ensure its streamline the number of project in its entire department in other to ensure adequate funding of those projects. Funding of major project could serve as a limitation to the central bank in actualizing the implementations of it various projects that are expected to enhance the Nigeria economy.
Corruption as we all know is the order of the day in Nigeria, so, for the successful management of funds the central bank must makes sure it does not allow corrupt persons into its system of operations.
The activities of the central bank must not be politicized in any way in other to ensure equity in the disbursement of funds and in taking on special project across the six geo-political zones of the country.
Purpose of Study
The central bank on Nigeria must adhere to it policies in other to enhance economy growth in Nigeria and also in the banking and financial sector of the nation’s economy.
Hence, the fundamental purpose of this study is:
To access the impact of the central bank on the banking industry
To examine the impact of the central bank of the nation’s economy
To identify the benefit of the central bank so far.
To identify the effect of the central bank and other financial institution in sustaining the Nigeria economy
Research Questions
This study attempt to provide answers to the following research questions:
How do you view the central bank in relation to economic development?
Do you think the central bank policy on the Nigeria economy has had any impact on the economy?
Has there been any improvement in the country economy ever since the central bank was created
Are the Nigeria banks strong and trusted enough in spite of the CBN policy on consolidation?
In your own view do you think the central bank has affected the nation’s economy positively or negatively?
How would you rate the impact of the central bank on the manufacturing sector of the economy?
How does the attitude of Nigerians affect the policies of the central bank?
Hypothesis
Looking at the main purpose of this research, it will be reasonable to propose that:
1) Ho: the state of the Nigeria economy has not improve since the establishment of the central bank
Hi: the state of the Nigeria economy has improve since the establishment of the central bank
11) Ho: the central bank is not strong and trusted enough to fully implement all its proposed economy policies.
Ho: the central bank is strong and trusted enough to fully implement all its proposed economy policies.
Significance of Study
The significance of this study is to add to the general body of knowledge, enlighten the general public on the following:
The impact of central bank on the Nigeria economy
The impact of the central bank in reducing the poverty level of the nation’s economy
To bring to light the activities of the central bank in general.
To show to investors and the general public that the state of banks has undergone a lot of changes through the consolation policy of the central bank.
Limitation of study
This research works is basically on the impact of central bank in the development of Nigeria economy. The study will concentrate and will not go beyond the showing the impact of the central bank on 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
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
Tags: THE IMPACT OF CENTRAL BANK IN THE DEVELOPMENT OF THE NIGERIA ECONOMY
CHAPTER ONE
INTRODUCTION
Background of Study
The central bank of Nigeria CBN was establishing by the central bank of Nigeria act of 1958 and commences operations on the 1st of July 1959.
The principal objectives of the central bank of Nigeria was basically on the issuance of legal tender currency in Nigeria and the central bank of Nigeria is also saddle with the responsibility of maintaining the nations external reserve and value of the legal tender currency in other to safeguard the international value of the nation’s currency.
Some of the functions of the central bank of Nigeria also include promoting monetary stability and a sound financial system. They also serve as the banker and the financial adviser to the federal government on economy decisions. The CBN also serve as bankers to other banks within Nigeria and abroad.
The central bank of Nigeria play a major role in the development of Nigeria economy, the bank has been saddle with various responsibilities to ensure economy development.
The CBN has played a major role in the development of agriculture in the country through the Agricultural Credit Guaranty scheme Fund (ACGSF). The scheme was established by decree no. 20 of 1977, and started operation in April, 1978. Its original share capital and paid-up capital were one hundred million naira and eighty six million and six hundred thousand naira respectively. The federal government of Nigeria holds 60% and the central bank of Nigeria 40% of the shares. The capital based of the scheme was increase to three billion naira in March 2001. The funds guarantees credit fertilities to farmers. The fund is solely managed by the central bank of Nigeria which handles the day to day activities of the scheme.
The central bank of Nigeria has also play a vital role in the development of small and medium enterprises trough the establishment of the small and medium enterprise equity investment scheme. The scheme is a voluntary initiative of the bankers committee approved at its 26th meeting held on the 21st of December 1999. The initiative was in responsive of the federal government concerns and policy measures for the promotion of small and medium enterprises (SMEs) as vehicle for
rapid industrialization, sustainable economy development, poverty alleviation and employment generation.
The scheme require all bank in Nigeria to set aside ten (10) percent of their profit after tax for equity investment and promotion of small and medium scale enterprises. The ten (10) percent of the profit after tax to be set aside annually shall be invested in small and medium scale enterprises as the banking industry contribution to the government effort towards stimulating economy growth, developing local technology and generating employment. The central bank is saddle with the responsibility of ensuring absolute compliance of the banks towards the successful realization of the scheme.
The central bank of Nigeria established the infrastructure finance office on March 01 2010. The mandate of the office is to among others; evolve a sustainable financing frame work to stimulate long-term financing for infrastructural development in the country. The bank has undertaken some steps to improve the sectors as follows;
The bank provided three hundred billion fertility for investment in debentures to be issued by the bank of industry in accordance with section 31 of the CBN act 2007, for investment in power and aviation projects. As part of measures by the CBN to further encourage banks to lend to the real sector of the economy, particularly SMEs, infrastructural and agriculture, the board of directors of the bank has approved the amendment of the prudential guidelines on loan loss provisioning and rule and regulations on margin lending.
We can’t talk about the role the central bank of Nigeria has played on the Nigeria economy without mentioning the impact the CBN bank consolidation. The central bank recent reform (consolidation) that employed certain measure to strengthen the Nigeria banking system by drastically increasing the minimum capital requirement from two million naira to twenty-five billion naira. Through review of policy documents official report and economic information on the banking sector, it became evident the consolidation of banks led to a remarkable reduction of banks from 89 to 25 by merge, acquisition, initial public offer and other means. The bank consolidation has resulted in making banks more efficient and reliable and also, their intermediary potentials have also been revised.
Statement of Problem
The central bank of Nigeria must ensure its streamline the number of project in its entire department in other to ensure adequate funding of those projects. Funding of major project could serve as a limitation to the central bank in actualizing the implementations of it various projects that are expected to enhance the Nigeria economy.
Corruption as we all know is the order of the day in Nigeria, so, for the successful management of funds the central bank must makes sure it does not allow corrupt persons into its system of operations.
The activities of the central bank must not be politicized in any way in other to ensure equity in the disbursement of funds and in taking on special project across the six geo-political zones of the country.
Purpose of Study
The central bank on Nigeria must adhere to it policies in other to enhance economy growth in Nigeria and also in the banking and financial sector of the nation’s economy.
Hence, the fundamental purpose of this study is:
To access the impact of the central bank on the banking industry
To examine the impact of the central bank of the nation’s economy
To identify the benefit of the central bank so far.
To identify the effect of the central bank and other financial institution in sustaining the Nigeria economy
Research Questions
This study attempt to provide answers to the following research questions:
How do you view the central bank in relation to economic development?
Do you think the central bank policy on the Nigeria economy has had any impact on the economy?
Has there been any improvement in the country economy ever since the central bank was created
Are the Nigeria banks strong and trusted enough in spite of the CBN policy on consolidation?
In your own view do you think the central bank has affected the nation’s economy positively or negatively?
How would you rate the impact of the central bank on the manufacturing sector of the economy?
How does the attitude of Nigerians affect the policies of the central bank?
Hypothesis
Looking at the main purpose of this research, it will be reasonable to propose that:
1) Ho: the state of the Nigeria economy has not improve since the establishment of the central bank
Hi: the state of the Nigeria economy has improve since the establishment of the central bank
11) Ho: the central bank is not strong and trusted enough to fully implement all its proposed economy policies.
Ho: the central bank is strong and trusted enough to fully implement all its proposed economy policies.
Significance of Study
The significance of this study is to add to the general body of knowledge, enlighten the general public on the following:
The impact of central bank on the Nigeria economy
The impact of the central bank in reducing the poverty level of the nation’s economy
To bring to light the activities of the central bank in general.
To show to investors and the general public that the state of banks has undergone a lot of changes through the consolation policy of the central bank.
Limitation of study
This research works is basically on the impact of central bank in the development of Nigeria economy. The study will concentrate and will not go beyond the showing the impact of the central bank on 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
HOW TO GET THE FULL PROJECT WORK
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Tags: THE IMPACT OF CENTRAL BANK IN THE DEVELOPMENT OF THE NIGERIA ECONOMY
CHAPTER ONE
INTRODUCTION
Background of Study
The central bank of Nigeria CBN was establishing by the central bank of Nigeria act of 1958 and commences operations on the 1st of July 1959.
The principal objectives of the central bank of Nigeria was basically on the issuance of legal tender currency in Nigeria and the central bank of Nigeria is also saddle with the responsibility of maintaining the nations external reserve and value of the legal tender currency in other to safeguard the international value of the nation’s currency.
Some of the functions of the central bank of Nigeria also include promoting monetary stability and a sound financial system. They also serve as the banker and the financial adviser to the federal government on economy decisions. The CBN also serve as bankers to other banks within Nigeria and abroad.
The central bank of Nigeria play a major role in the development of Nigeria economy, the bank has been saddle with various responsibilities to ensure economy development.
The CBN has played a major role in the development of agriculture in the country through the Agricultural Credit Guaranty scheme Fund (ACGSF). The scheme was established by decree no. 20 of 1977, and started operation in April, 1978. Its original share capital and paid-up capital were one hundred million naira and eighty six million and six hundred thousand naira respectively. The federal government of Nigeria holds 60% and the central bank of Nigeria 40% of the shares. The capital based of the scheme was increase to three billion naira in March 2001. The funds guarantees credit fertilities to farmers. The fund is solely managed by the central bank of Nigeria which handles the day to day activities of the scheme.
The central bank of Nigeria has also play a vital role in the development of small and medium enterprises trough the establishment of the small and medium enterprise equity investment scheme. The scheme is a voluntary initiative of the bankers committee approved at its 26th meeting held on the 21st of December 1999. The initiative was in responsive of the federal government concerns and policy measures for the promotion of small and medium enterprises (SMEs) as vehicle for
rapid industrialization, sustainable economy development, poverty alleviation and employment generation.
The scheme require all bank in Nigeria to set aside ten (10) percent of their profit after tax for equity investment and promotion of small and medium scale enterprises. The ten (10) percent of the profit after tax to be set aside annually shall be invested in small and medium scale enterprises as the banking industry contribution to the government effort towards stimulating economy growth, developing local technology and generating employment. The central bank is saddle with the responsibility of ensuring absolute compliance of the banks towards the successful realization of the scheme.
The central bank of Nigeria established the infrastructure finance office on March 01 2010. The mandate of the office is to among others; evolve a sustainable financing frame work to stimulate long-term financing for infrastructural development in the country. The bank has undertaken some steps to improve the sectors as follows;
The bank provided three hundred billion fertility for investment in debentures to be issued by the bank of industry in accordance with section 31 of the CBN act 2007, for investment in power and aviation projects. As part of measures by the CBN to further encourage banks to lend to the real sector of the economy, particularly SMEs, infrastructural and agriculture, the board of directors of the bank has approved the amendment of the prudential guidelines on loan loss provisioning and rule and regulations on margin lending.
We can’t talk about the role the central bank of Nigeria has played on the Nigeria economy without mentioning the impact the CBN bank consolidation. The central bank recent reform (consolidation) that employed certain measure to strengthen the Nigeria banking system by drastically increasing the minimum capital requirement from two million naira to twenty-five billion naira. Through review of policy documents official report and economic information on the banking sector, it became evident the consolidation of banks led to a remarkable reduction of banks from 89 to 25 by merge, acquisition, initial public offer and other means. The bank consolidation has resulted in making banks more efficient and reliable and also, their intermediary potentials have also been revised.
Statement of Problem
The central bank of Nigeria must ensure its streamline the number of project in its entire department in other to ensure adequate funding of those projects. Funding of major project could serve as a limitation to the central bank in actualizing the implementations of it various projects that are expected to enhance the Nigeria economy.
Corruption as we all know is the order of the day in Nigeria, so, for the successful management of funds the central bank must makes sure it does not allow corrupt persons into its system of operations.
The activities of the central bank must not be politicized in any way in other to ensure equity in the disbursement of funds and in taking on special project across the six geo-political zones of the country.
Purpose of Study
The central bank on Nigeria must adhere to it policies in other to enhance economy growth in Nigeria and also in the banking and financial sector of the nation’s economy.
Hence, the fundamental purpose of this study is:
To access the impact of the central bank on the banking industry
To examine the impact of the central bank of the nation’s economy
To identify the benefit of the central bank so far.
To identify the effect of the central bank and other financial institution in sustaining the Nigeria economy
Research Questions
This study attempt to provide answers to the following research questions:
How do you view the central bank in relation to economic development?
Do you think the central bank policy on the Nigeria economy has had any impact on the economy?
Has there been any improvement in the country economy ever since the central bank was created
Are the Nigeria banks strong and trusted enough in spite of the CBN policy on consolidation?
In your own view do you think the central bank has affected the nation’s economy positively or negatively?
How would you rate the impact of the central bank on the manufacturing sector of the economy?
How does the attitude of Nigerians affect the policies of the central bank?
Hypothesis
Looking at the main purpose of this research, it will be reasonable to propose that:
1) Ho: the state of the Nigeria economy has not improve since the establishment of the central bank
Hi: the state of the Nigeria economy has improve since the establishment of the central bank
11) Ho: the central bank is not strong and trusted enough to fully implement all its proposed economy policies.
Ho: the central bank is strong and trusted enough to fully implement all its proposed economy policies.
Significance of Study
The significance of this study is to add to the general body of knowledge, enlighten the general public on the following:
The impact of central bank on the Nigeria economy
The impact of the central bank in reducing the poverty level of the nation’s economy
To bring to light the activities of the central bank in general.
To show to investors and the general public that the state of banks has undergone a lot of changes through the consolation policy of the central bank.
Limitation of study
This research works is basically on the impact of central bank in the development of Nigeria economy. The study will concentrate and will not go beyond the showing the impact of the central bank on 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
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
Tags: THE IMPACT OF CENTRAL BANK IN THE DEVELOPMENT OF THE NIGERIA ECONOMY
