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THE PROBLEMS OF NEW BANK IN NIGERIA (A CASE STUDY OF CITIZEN INTERNATIONAL BANK OF NIGERIA ENUGU)
TABLE OF CONTENTS
TITLE page
Approval page
Dedication
Acknowledgement
Abstract
Table of contentsCHAPTER ONE
1.0 INTRODUCTIONS OF PROBLEMS OF NEW BANK IN NIGERIA
1.1 Statement of problem
1.2 Purpose
1.3 Significance of the study
1.4 Statement of hypothesis
1.5 Scope of the study
1.6 Limitation of the study
1.7 Definition of termsCHAPTER TWO
2.0 LITERATURE REVIEW OF PROBLEMS OF NEW BANK IN NIGERIA
2.1 Function of bank in Nigerian
2.2 The problem of new banks in Nigerian
2.3 Withdrawal of government funds from bank Beth commercial and merchant bank
2.4 Problem payment of interest on current account
2.5 Problem of Defaults in inter-sale interest
2.6 Causes of bank failure
2.7 Management of citizen bank of NigerianCHAPTER THREE
3.0 RESEARCH DESIGN AND METHODOLGY OF PROBLEMS OF NEW BANK IN NIGERIA
3.1 Sources of duty
3.11 Primary duty
3.12 Secondary duty
3.2 Sample used
3.3 Method of investigation
CHAPTER FOUR
4.0 DATA PRESENTATION AND ANALYSIS OF PROBLEMS OF NEW BANK IN NIGERIA
4.1 Data presentation and analysis
4.2 Test of hypothesis
CHAPER FIVE
5.0 SUMMARY OF FINDINGS CONCLUSION AND RECOMMENDATION OF PROBLEMS OF NEW BANK IN NIGERIA
5.1 Findings
5.2 Conclusion
5.3 Recommendation
Bibliography
Appendence
SUMMARY OF FINDINGS, CONCLUTION AND RECOMMENDATION
SUMMARY OF FINDINGS
The boom in the banking sector has resulted ion what some people call excessive profiteering.
It is in recognition of this economic profit in the sector that many banks are pinging up.
Bin 1988, about 40 new banks applied for license of operation to central bank. While it can not be said that all these applicants will grant it stand as a measure of performance in the banking industry. It is also postulated that many new ones will apply to in the coming fiscal your.
Nevertheless some experts have predicated that many new ones will apply to in the coming fiscal year .
Nevertheless some expects have predicated that with the higher controls on security foreign exchange market {SFEM} fewer queues for vend tipping capital givens are envisaged.
In the 1988 budget bank profit dropped significant especially because of the marchant bank which continuel to grow because of the fact that more business were emerging from issueing houses activities stock valuation, brokerage from desk conversation business, equipment leasing trivialization provision of term facilities as well corporate capital restructuring.
Bankers are complaining that although some of the policies established are necessary for the growth of the banking sector the rate at which they are promulgated disrupt operation and planning.
The net effect is that too much attention is given to them diffusion. New policies has enforce the banks to restructure their management terms.
Door open to different types of professionals a more that will create more employment opportunities and hence competition create and widen the nations economic bank. But the enforcement of all these measure at the same period will not augur well for a comprehensive monitoring of their performance.
CONCLUSION
Based on the finding of this study, it is concluded that most new banks open that policies established are necessary for the growth of the banking sector. The rates at which they are permutated however disrupt operations and planning of new banks in our country.
The researcher could conclude from the data collected and analyzed that a greater percentage of the new banks. It is understood the grouse of most banks in the measures are over the payment of interest on current account at a time when ending rate have already gone so high.
RECOMMENDATION
The central bank of Nigeria (CBN) should sit- down and review the guideline on the establishment of new bank and make appropriate amendment especially in the areas of paid up capital and reserve deposit, so that new bank will have adequate capital to purchase or acquire assists that will put in order measure.
The central bank of Nigeria should under take a critical assessment to the latest policies and determine alternatives ways of utilizing the fund so mapped out to minimize the social cost of holding idle – funds.
Also rather than withdrawing such deposit from banks, the central banks of Nigeria should design a framework to be adopted by ministries and Parastatals operating deposit accounts with the banks.
Innovation should be a watch for the new banks. Treasuries of the new banks in conjunction with the corporate planning developer must develop the new products and venture into new areas such as debt trading and debt securitization. Their activities must be based on land reseach and modeling of development in the economy and the industry. Hence , banks strategic planner and bank treasurers are to work hand in hand.
Treasure service must now be customer oriented. Market segmentation and development of product and service to suit the peculiar need of each market.
Segmentation is imperative. But the banks should bear in mind that the customer segmentation is more sympathetic to the cardinal principal of marketing. As more relevant to producers like bankers whose product range” is not very clearly differentiated.
In the contest, it is undesirable that new commercial and merchant bank should be licensed to carry out specialized banking operations.
This should not be in the form of government limitation that give rise to the prototype of development of banks like NIDB, NBCI, FSB or the FMB. But the new banks should be licensed to finance trace development and other market to finance commodity and export trade raw material , chemical manufacturing business, construction, engineering estates, technological and intensive industries.
The task before all new banks in operation in Nigeria today, that kwill keep them survive in the 1990’s banking industry is to bring a charge which involves changing the attitudes and behaviours of the people are many critisim and allegations against banks and their staff. How do we help to alleviate some of these problem encountered by over numerous customers?
The solution is of two part:
One involve providing bother training programmes., courses, seminars and workshop to educate the bank staff on the important of the customer of the banks. A sort of regular induction course on customers service and customer relation will help. This would no doubt create conduction at mosphere for both the customers and the workers. The other part of the solution would be found from the marking view point of the economically essential trend towards achieving service which will bring to is some opportunities for the banks. The marking minded management should have proper marketing opportunity that increased mechanization of routine back up service, which currently absorb between 70 and 60 percent of the banks human and other resources could released more managerment and staff time for active insolvent in learning about and satisfying the less routine requirment of customers. Planned evolution in the direction will involve progressive organizational charges both in the creation of new jobs and redefinition of existing jobs tranning programme to facilitate the process of re-adjustment.
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