INTRODUCTIONBACKGROUND TO THER STUDYlike case in many countries, commercial banking started in Nigeria long before the central bank was established where as the first commercial bank branch was established in Nigeria as far back as 1892, it was only in 1958 (66 years) after that the central bank of Nigeria was established by the bank of Nigeria act of 1958. it started full operations on 1st July 1959. Prior to the establishment of the central bank of Nigeria, the role of a central...
INTRODUCTION1.2 BACKGROUND OF THE STUDYBanking business started as far back as the seventeenth century. When the receipts issued by Goldsmiths to depositors were used as a means of exchange in commercial transaction. Because these receipts were accepted generally, they became transferable too.A bank is an institution where money and valuables are kept for safety purposes. Bank also lend money known as loan, pay out money on the customers order by means of a change and bank draft and also give...
INTRODUCTION 1.1 BACKGROUND OF THE STUDY The performance of the Nigeria banking sector has been a serious concern to the generality of Nigeria. Such Nigerians includes but are not restricted to politicians, the military, the academic community , industrialist , traders, and even the peasant community. As one reflects on the present state of the sector, one cannot but come to the sad conclusion that all is not well. Actually, the method of expressing the dissentient withi...
INTRODUCTIONA bank can be defined as any person that provides the minimum banking services and which is licensed as a bank by federal government in Nigeria as banking institution.This minimum banking service includes:a. Acceptance of deposits from customersb. Marketing payment locally or outside Nigeriac. Granting loans and similar instrumentsThere understood the World Bank (IBRD) little is known about grant banking benefit the middle age the Greeks and Mesopotamia hand bank as did the remain...
INTRODUCTION1.1 BACKGROUND OF THE STUDY Standard trust bank PLC commercial operations in August 1997 as a commercial bank with five business offices driven by a board of directors, a management team and staff focused on revolutionizing the Nigerian banking industry. Following the resolution of the board of directors at an extra-ordinary general meeting on 19th July 2002, the bank because a public limited company (PLC). From the humble beginning, they have been able to reco...
1.1 BACKGROUND OF THE STUDYMan, Since the past ages, has been battling with procurements of a reasonable standard of living and the ways of managing his perpetual inadequate. The eventful development of organised Society had to the Institution of government. During the 15th Century, when mercantilism was the order of the, government had right to interfere with the economic process to protect the interest of the nation (as then seen mainly from the view point of international...
INTRODUCTION1.1 BACKGROUND OF THE STUDY As competition between businesses geared up, if becomes imperative to turn, attention to customers needs and wants which are naturally insatiable. The marketing concept arose to challenge all other previous concept. Orjih (1998) in his book “Seminar in Banking and finance.” Concluded that marketing concept holds the key to achieving organizational goals consists in determining the needs and wants of target markets and delivering the desired satisfac...
ABSTRACT This study is on the computer age and it’s impact on financial institutions. In other words, it reflects on the difference between when the use of manual machine was passed out and when the modern technology computer was introduced whether there is any improvement 0as regards the success in settlement of claims arising. The researcher vigorously and extensively studies the extent to which typical Nigeria financial institution made use of computer in the operational system of some o...
ABSTRACTThe central bank of Nigerian (C.B.N) started full-scale operation on 1st July 1959, and since its inception like most of the central bank the world over, performs certain national and international functions one of which is the management of foreign debt. So this project examines the role of CBN in the management of foreign debt.A lot of problems engulfed the central bank of Nigeria which trying to carry out this function ranging from inadequate reserves to over increasing imports bil...
INTRODUCTIONI.I BACKGROUND OF THE STUDYBefore the establishment of the Central Bank of Nigeria the West African Currency Board (WACB) which was established in 1912 had the responsibility for issuing legal tender currency. The WACB was set up to promote the financing of the export trade. It was the duty of WACB to issue West African currency. The exchange of existing currencies and the investment of reserves.The reserve were invested in Britain and this is in a way facilitated Nigeria’s inte...
INTRODUCTION1.1 BACKGROUND OF THE STUDY One important factor affecting the level of economic activities in any economy is change in supply. These changed affects directly the rate of spending by the citizen of the country. It is therefore, because of the economic importance of monetary that the monetary authorities has devoted time and resources towards money management with a view of reaping the benefits inherent therein. The credit guideline, which is my topic of study, has form...
ABSTRACTThe banking business has experienced structural changes over the decades like other business.The government continually encourages the expansion of the services rendered by bank and also facilities both in the urban and rural area. In other to provide comprehensive banking in the country.Banking has been in existence as far back 2500 B.C. Nigeria Government intervention began in 1975 where the military government restructured and Nigerianised in stages in the banking system. It has an...
ABSTRACTThe significance of the service industries in the economic development of Nigeria cannot be undermined. However, liquidity problems constitute a major constraint on the development of this industry. This study addresses the practical measures in the service industries needs to adopt and effectively manage their liquid resources especially taking cognizance of the current economic recession in the country. This study shows that economic recession and over investment in stock are the ma...
ABSTRACTFraud is an awful phenomenon, which like a vein has invaded Nigeria banking industries and the society in general, and puts any organization that it comes into in a state of liquidation.This study highlights the bank fraud, extent of fraud in banks, effects of bank fraud, detection, and presentation and control measures adopted by management to check fraud incidents. This study highlights the nature and various types of fraud, causes of bank fraud, extent of fraud in banks, effects of...
ABSTRACT The prudential guidelines for licensed banks which are based on globa banking standards, imposed far-reaching requirements in the classification of risk assets and provision for bad and doubtful debts. Since its introduction in November 1990 the implementation of the guidelines has had a profound impact on the operations of banks. In this project, the researcher has succeeded in identifying the features of the prudential guidelines as well as its impact on published financial stateme...