IMPACT OF INSURANCE MARKET ACTIVITY ON ECONOMIC GROWTH IN NIGERIA

IMPACT OF INSURANCE MARKET ACTIVITY ON ECONOMIC GROWTH IN NIGERIA


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                                                                               ABSTRACT
Insurance is one of the cornerstones of modern day financial services sector. In addition to its
traditional role of managing risk, insurance market activity, both as intermediary and as provider
of risk transfer and indemnification, may promote growth by allowing different risks to be
managed more efficiently through promoting long term savings, encouraging the accumulation
of capital, serving as a conduit pipe to channelling funds from policy holders to investment
opportunities as well as mobilizing domestic savings into productive investment. Insurance is an
indispensable aspect of a nation’s financial system and theoretical conceptions explain that
financial systems influence savings and investment decisions through lowering the costs of
researching potential investments, exerting corporate governance, trading, diversification and
management of risk, mobilization and pooling of savings, conducting exchange of goods and
services and mitigating the negative consequences that random shocks can have on the economy.
However, the level of insurance market activity which should be commensurate with Nigeria’s
huge potentials has not been attained. Insurance by reducing uncertainty and volatility, smoothen
the economic cycle and reduce the impact of crisis situations on the micro and macro level. But,
the demands for protection against losses of life, property caused by natural disaster, crime,
violence, accidents, fire are not met in Nigeria. It is against this background that this study
examined the impact of life-insurance penetration, non-life insurance penetration, total insurance
penetration and insurance density on economic growth in Nigeria. The study adopted the ex-post
facto research design and annualized cross sectional data for 26-year period 1987-2012 were
collated from the Central Bank of Nigeria statistical Bulletin, National Insurance Commission
and Nigerian Insurers Association. Four hypotheses were proposed and tested using the Ordinary
Least Square (OLS) regression model. Descriptive statistics and graphs were also used to
complement the regression results. The results emanating from this study indicate that while life
insurance penetration and insurance density had positive and significant impact on economic
growth in Nigeria, both total insurance penetration and non-life insurance penetration had
positive but insignificant impact on economic growth in Nigeria under the period of this study.
The study therefore recommends among others, that for the insurance industry in Nigeria to exert
more positive impact on the Nigerian economy, government policies concerning insurance
should focus more on attracting rural communities into the insurance bracket. This will assist at
enhancing savings therefore providing funds for investment into the Nigerian real sector.

TABLE OF CONTENTS
Title Page. . . . . . . . . . . i
Approval Page. . . . . . . . . . ii
Declaration. . . . . . . . . . . iii
Dedication. . . . . . . . . . . iv
Acknowledgments. . . . . . . . . . v
Abstract. . . . . . . . . . . vii
Table of Contents. . . . . . . . . . viii
List of Tables. . . . . . . . . . . xi
List of Figures. . . . . . . . . . xii
CHAPTER ONE INTRODUCTION
1.1 Background of the Study. . . . . . . . 1
1.2 Statement of the Problem. . . . . . . . 4
1.3 Objectives of the Study. . . . . . . . 5
1.4 Research Questions. . . . . . . . . 5
1.5 Research Hypotheses. . . . . . . . . 6
1.6 Scope of the Study. . . . . . . . . 6
1.7 Significance of Study. . . . . . . . . 7
1.8 Operational Definition of Terms. . . . . . . 8
References. . . . . . . . . . 10
CHAPTER TWO REVIEW OF RELATED LITERATURE
2.1 Theoretical Review. . . . . . . . . 11
2.1.1 Theories of Economic Growth. . . . . . . 11
2.1.2 Theoretical Review of the Nigerian Insurance Industry. . . . 19
2.1.3 Theories of Reinsurance in Nigeria. . . . . . . 25
2.1.4 Classifications of Insurance Business in Nigeria. . . . . 30
2.1.5 The Nigerian Financial System. . . . . . . 43
2.1.6 Theories of the Financial System. . . . . . . 46
2.1.7 Theories of the Role of Insurance in Financial Intermediation. . . 48
2.1.8 Environmental Factors affecting Insurance Market in Nigeria . . . 57
2.2 Empirical Review. . . . . . . . . 68

2.2.1 Financial Structure and Economic Growth. . . . . . 68
2.2.2 Financial Intermediation and Economic Growth. . . . . 73
2.2.3 Insurance Industry and Economic Growth. . . . . . 79
2.2.4 Life Insurance and Economic Growth. . . . . . 86
2.2.5 Non-Life Insurance and Economic Growth . . . . . 88
2.2.6 Insurance Penetration and Growth. . . . . . . 91
2.2.7 Insurance Density and Growth. . . . . . . 92
2.2.8 Insurance Sector Development and Capital Market Growth. . . . 92
2.3 Review Summary. . . . . . . . . 94
References. . . . . . . . . . 96
CHAPTER THREE RESEARCH METHODOLOGY
3.1 Research Design. . . . . . . . . 110
3.2 Nature and Sources of Data. . . . . . . . 110
3.3 Model Specification . . . . . . . . 110
3.4 Description of Variables. . . . . . . . 113
3.4.1 Dependent Variables. . . . . . . . . 113
3.4.2 Independent Variables. . . . . . . . 113
3.4.3 Control Variables. . . . . . . . . 114
3.5 Techniques of Analysis. . . . . . . . 115
References. . . . . . . . . . 116
CHAPTER FOUR PRESENTATION AND ANALYSIS OF DATA. . .
4.1 Presentation and Interpretation of Data. . . . . . 117
4.2 Test of Hypotheses. . . . . . . . . 126
4.2.1 Test of Hypothesis One. . . . . . . . 126
4.2.2 Test of Hypothesis Two. . . . . . . . 126
4.2.3 Test of Hypothesis Three. . . . . . . . 129
4.2.4 Test of Hypothesis Four. . . . . . . . 130
4.3 Implication of Result. . . . . . . . . 132
References. . . . . . . . . . 134

CHAPTER FIVE SUMMARY OF FINDINGS, CONCLUSION AND
RECOMMENDATIONS. . . . . .
5.1 Summary of Findings. . . . . . . . . 135
5.2 Conclusion. . . . . . . . . . 136
5.3 Recommendations. . . . . . . . . 137
5.4 Recommendation for Further Studies. . . . . . 138
5.5 Contribution to Knowledge. . . . . . . . 139
Bibliography. . . . . . . . . . 140
Appendix. . . . . . . . . . 154

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THE ROLE OF MICROFINANCE BANKS IN THE ALLEVIATION OF POVERTY IN NIGERIA. ( A Case Study of Oha Microfinance Bank Ogui Road Branch, Enugu State)

THE ROLE OF MICROFINANCE BANKS IN THE ALLEVIATION OF POVERTY IN NIGERIA.
( A Case Study of Oha Microfinance Bank Ogui Road Branch, Enugu State)


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ABSTRACT
This study explores the immense role of the microfinance banks in the alleviation of poverty in Nigeria. The researcher revealed that the rate at which rural dwellers deposit their money in their pillows rather than in microfinance banks is high. Data were collected through primary and secondary sources. As regarded to primary sources, questionnaires and interviewed were used. The chi-square (x²) method was used for testing of hypotheses. Responses to the questionnaires were analyzed using percentage method of analysis. Based on the findings of this study, an attempt on the role of microfinancing as stimulus to poverty alleviation in Nigeria may lack adequate knowledge of various financial transactions available and how the rural dwellers can access them. In conclusion, it hoped that the recommendation will help the microfinance banks to strengthen its weakness for better and effective services in order to achieve its sets of goals and socio-economic advancement for the alleviation of poverty in Nigeria.

TABLE OF CONTENT
Cover page———————————————————————————i
Title page———————————————————————————-ii
Certification——————————————————————————-iii
Approval page—————————————————————————–iv
Dedication———————————————————————————-v
Acknowledgement————————————————————————vi
Abstract————————————————————————————vii
Table of content—————————————————————————viii
CHAPTER ONE: INTRODUCTION
1.1 Background of the study————————————————————–1
1.2 Statement of problems—————————————————————-4
1.3 Objectives of the study—————————————————————-6
1.4 Research Hypothesis——————————————————————6
1.5 Research questions——————————————————————–7
1.6 Significance of the study————————————————————–7
1.7 Scope of the study———————————————————————8
1.8 Limitations of the study————————————————————–8
CHAPTER TWO: LITERATURE REVIEW
2.1 Overview of microfinance activities in Nigeria———————————–10
2.2 Justification for the establishment of microfinance institutions————-16
2.3 Microfinance policies and goals—————————————————19
2.4 Contributions of government in alleviation of
poverty through establishment of microfinance banks———————–23
2.5 The rate at which rural dwellers are not able to repaytheir loans————26
2.6 Supervision of microfinance banks—— —————————————-28
2.7 Roles and responsibilities of stakeholders————————————–30
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Research Design———————————————————————33
3.2 Sources of data collection———————————————————–33
3.3 Methods of data collection———————————————————34
3.3.1 Primary data————————————————————————-34
3.3.2 Secondary data———————————————————————-35
3.4 Determination of population size————————————————-35
3.5 Determination of sample size—————————————————–35
3.6 Sample procedures—————————————————————36
3.7 Method of data analysis———————————————————-37
3.8 Decision rule———————————————————————–38
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Data presentation—————————————————————–39
4.2 Summary of responses———————————————————–39
4.3 Test of hypothesis—————————————————————–48
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS
5.1 Summary of Findings————————————————————–55
5.2 Conclusion————————————————————————–56
5.3 Recommendations—————————————————————–56
BIBLIOGRAPHY——————————————————————-58
APPENDIX A———————————————————————–60
APPENDIX B—————————————————————————61
APPENDIX C—————————————————————————63

      

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EXPORT FINANCING IN NIGERIA,PROBLEMS AND PROSPECTS

EXPORT FINANCING IN NIGERIA,PROBLEMS AND PROSPECTS


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                                                                 Abstract

This research sought to examine the impact of Nigerian Export Import Bank credit terms on non-oil export in Nigeria; examine the impact of Total banking export credit on non-oil export in Nigeria and examine the relationship between non-oil export and Nigeria’s gross domestic product. The study adopted the ex post facto research design and data were gathered from secondary sources. The study utilized the simple linear regression analysis where the Nigeria Export-Import Bank Credit (NEIXMC), Total Bank Export Credit (TBEC) and Non-oil Export (NOE) were used as the independent variables and Non-oil Export (NOE) and Gross domestic Product GDP as dependent variable for the hypotheses respectively. The result of the hypotheses tested revealed that Nigerian Export Import Bank credit have positive significant impact on non-oil export in Nigeria; Total banking export credit have positive significant impact on non-oil export in Nigeria and Non-Oil Export have positive significant impact on Nigeria’s gross domestic product.

Thus the study recommends that; Local manufacturers should be encouraged to expand production and source market globally; export policy implementation agencies should be made to improve on their strategies to boost production and Government should ensure pre and post shipment finance in local currency through rediscounting facility among others.

TABLE OF CONTENTS
Title page – – – – – – – – – i
Certification – – – – – – – – ii
Dedication – – – – – – – – iii
Acknowledgement – – – – – – – iv
Abstract – – – – – – – – – v
Table of contents – – – – – – – vi
CHAPTER ONE: INTRODUCTION
1.1 Background of the Study – – – – – 1
1.2 Statement of the Problem – – – – – 4
1.3 Objectives of the Study – – – – – 5
1.4 Research Questions – – – – – – 5
1.5 Research Hypotheses – – – – – 6
1.6 Scope of the Study – – – – – – 6
1.7 Limitation of the Study – – – – – 6
1.8 Significant of the Research — – – – 7
1.9 Definition of Terms – – – – – – 8
References – – – – – – – 11
CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.1 Policy formulations for Exports Financing – – 12
2.2 Import and Export Finance by Nigeria Banks – 17
2.3 Increasing Non-Oil Exports in Nigeria – – 28
2.4 Export Financing through Export Processing Zones 34
References – – – – – – – 41-43
CHAPTER THRE: RESEARCH METHODOLOGY
3.1 Research Design – – – – – – 44
3.2 Nature and Sources of Data – – – – 44
3.3 Population, Sample Sizes/Techniques – – 45
3.4 Model Specification – – – – – – 45
3.5 Technique for Analysis — – – – – 46
References – – – – – – – 48
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.0 Introduction – – – – – – – 49
4.1 Presentation of Relevant Data – – – – 49
4.2 Test of Hypotheses – – – – – – 50
4.2.1 Test of Hypothesis One – – – – – 50
4.2.2 Test of Hypothesis Two – – – – – 51
4.2.3 Test of Hypothesis Three – – – – – 52
CHAPTER FIVE:
5.0 Summary of Findings , Conclusion and
Recommendation – – – – — – 54
5.1 Summary of Findings — – – – – 54
5.2 Conclusion – — – – – – – 55
5.3 Recommendations – – – – – – 57
Bibliography – – – – – – 58-61
Appendix – – – – – – – – 62-66

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LOAN GRANTING AND ITS RECOVERY PROBLEMS ON COMMERCIAL BANKS (A CASE STUDY OF FIRST BANK PLC, OJO- ALABA BRANCH)

LOAN GRANTING AND ITS RECOVERY PROBLEMS ON COMMERCIAL BANKS

(A CASE STUDY OF FIRST BANK PLC, OJO- ALABA BRANCH)


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                                                                              ABSTRACT

This research work was undertaken to assess the Loan granting and its recovery problems on Commercial Banks. The research was intended to achieve the following objectives: To find out the several problems facing loan recovery, the effects of loan default on commercial banks and the measures that will be used in reducing the incidence of loan default. Relevant data were collected from both primary and secondary sources. Questionnaires were the main primary data collection instrument employed while data from various relevant publication constituted the sources of secondary data. Upon the analysis of data, the following conclusions were drawn: That problem of loan default stemmed from the fact that there is unavailability of security to be disposed by banks to realize funds. And also customer’s attitude towards loan payment. On the basis of the above findings, it was recommended that commercial banks should use some risk control measures to guide against loan default. Also, before granting loan, they should examine critically the project statement submitted by the customer or borrower which will help them to find out the realistic repayment pattern and also help them in knowing if the projects are realistic based on the customer’s past performance. Also, the Central Bank of Nigeria should create a conducive environment for the successfully operation of commercial banks in Nigeria.

TABLE OF CONTENTS Title page————————————————-ii

Approval page————————————————————————–iii Certification—————————————————————————-iv Dedication——————————————————————————-v Acknowledgment———————————————————————–vi

Table of contents——————————————————————-vii-ix Abstract———————————————————————————-x

CHAPTER ONE
1.1 Background of the study—————————————————————1
1.2 Statement of problems—————————————————————–3
1.3 Objectives of the study—————————————————————–4
1.4 Research question———————————————————————-4
1.5 Research hypothesis——————————————————————–5
1.6 Scope of the study———————————————————————- 5
1.7 Significance of the Study ————————————————————-6
1.8 Definition of terms———————————————————————-6
1.9 Limitations of the study—————————————————————-7
CHAPTER TWO LITERATURE REVIEW

2.1 Brief introduction——————————————————————— 8

2.2 The nature of loan and advances granted by banks—————————–9

2.3 Problems of loan default————————————————————-1

3 2.4 Causes of loan default—————————————————————14

2.5 Effects of loan default—————————————————————-19

CHAPTER THREE RESEARCH METHODOLOGY
3.1 Research design——————————————————————— 21
3.2 Definition Population ————————————————————–21

3.3 Sample size————————————————————————–21

3.4 Sources and method of data collection——————————————22

3.5 Method of data presentation and analysis————————————–26

CHAPTER FOUR
4.0 Data presentation and analysis—————————————————23
4.1 Presentation and interpretation of data——————————————23
4.2 Data analysis and findings——————————————————–31
4.3 Discussion of the findings———————————————————32
4.4 Recovery measures——————————————————————33
CHAPTER FIVE SUMMARY OF FINDINGS, RECOMMENDATIONS AND CONCLUSION

5.1 Summary of findings—————————————————————- 39

5.2 Recommendation———————————————————————40

5.3 Conclusion—————————————————————————–41

5.4 Suggestion for further research—————————————————-42

Bibliography ————————————————————————–43

Appendix A—————————————————————————-45
Appendix B———————————————————————–46-48

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THE ROLE OF FINANCIAL INSTITUTIONS IN EXPORT FINANCING IN NIGERIA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC ONITSHA BRANCH)

THE ROLE OF FINANCIAL INSTITUTIONS IN EXPORT FINANCING IN NIGERIA

(A CASE STUDY OF FIRST BANK OF NIGERIA PLC ONITSHA BRANCH)


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                                                                               ABSTRACT
The primary objectives of this study was to examine how the financial institution export finance in Nigeria using First Bank of Nigeria Plc Onitsha branch as a case study. In carrying out this study, I used survey method in which I used the questionnaire to collect data. The target population was the staff of first bank of Nigeria Plc Onitsha Branch from which a sample of 80 was drawn. I used research questions and formulated research hypotheses. The relevant literature was reviewed for the study. The data were collected, presented analyzed and hypotheses tested using chi-square. At the end of the study a number of recommendations were made for further studies and on how to improve the Nigeria financial export in Nigeria and how to encourage the institutions for expansion and modernization.

TABLE CONTENTS
Cover Page:……………………………………………………..………i
Title Page:…………………………………………………….………..ii
Approval Page:………………………………………….…………….iii
Certification:……………………………………………………………iv
Dedication:………………………………………………………..……v
Acknowledgements:….…………………………………………………vi
Abstract:………………………………………………………………vii
Table of Contents..……………………………………………………viii
CHAPTER ONE: INTRODUCTION
1.1 Background of the Study:………………………………………………………….3
1.2 Statement of Problems:.…………………………………………………………..4
1.3 Purpose of the Study:…………………………………………………………….…6
1.4 Significance of the Study:………………………………………………………….7
1.5 Research Questions:…………………………………………………………………8
1.6 Formulation Hypothesis :………………………………………………………..9
1.7 Limitation of the Study:………………………………………………………….10
1.8 Definition of Terms :……………………………………………………………….11
CHAPTER TWO: LITERATURE REVIEW
2.1 Mexim Annual Statement of Account of 1999
Foreign Sources ……………………………………………………………………16
2.2 Sources of Finance For Export ……………………….……………………….18
2.3 The role of Financial Institution ………………………..……………………18
2.4 Factors Militating Against Export Finance:………………………………20
2.5 Historical Background to Export Financial In Nigeria:………………21
2.6 Policy Instrument:…………………….…………………………………………….23
2.7 Duty Draw Back/Suspension Manufacture in Board Scheme …26
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Area of the Study :………………………………………………………………….33
3.2 Population of the study:…………………………………………………..……33
3.3 Sample and Sampling Technique:…………………………………………..33
3.4 Instrument for Data Collection :……………………………………………..34
3.5 Validation of the Instruments…..……………………………………………34
3.6 Distribution and Retrieval of the Instrument:………………………..35
3.7 Method of Data Collection and Analysis:……………………………..…35
3.8 Analysis:………………………………………………………………………………….37
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Finding and Discussion of Finding Questionnaires Distribution
CHAPTER FIVE
5.0 Summary of findings, conclusions and Recommendations:……46
5.1 Summary of Findings:…………………………………………….………………46
5.2 Conclusion:……………………………………………………………..……………..47
5.3 Recommendations:………………………………………………………………..48
Appendix:…………………………………………………………………………………………50
Questionnaire :…………………………………………………………………………………51
Bibliography :……………………………………………………………………………………55

 

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BEST BANKING AND FINANCE PROJECT TOPICS

BEST BANKING AND FINANCE PROJECT TOPICS AND MATERIALS

  1. BANK FRAUD AND ITS EFFECT ON BANK PERFORMANCE IN NIGERIA
  2. THE IMPACT OF BANK DISTRESS ON COMMERCIAL BANKS IN NIGERIA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)
  3. AN ANALYSIS OF CREDIT MANAGEMENT IN THE BANKING INDUSTRY (A CASE STUDY FIRST BANK OF NIGERIA PLC. ENUGU.)
  4. THE ROLE OF FINANCIAL INSTITUTIONS IN EXPORT FINANCING IN NIGERIA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC ONITSHA BRANCH)
  5. LOAN GRANTING AND ITS RECOVERY PROBLEMS ON COMMERCIAL BANKS (A CASE STUDY OF FIRST BANK PLC, OJO- ALABA BRANCH)
  6. EXPORT FINANCING IN NIGERIA, PROBLEMS AND PROSPECTS
  7. THE ROLE OF COMMERCIAL BANKS IN SMALL SCALE ENTREPRENEURIAL DEVELOPMENT IN ENUGU STATE (CASE STUDY OF UBA AND UNION BANK OF NIGERIA PLC.)
  8. THE ROLE OF MICROFINANCE BANKS IN THE ALLEVIATION OF POVERTY IN NIGERIA. (A Case Study of Oha Microfinance Bank Ogui Road Branch, Enugu State)
  9. IMPACT OF INSURANCE MARKET ACTIVITY ON ECONOMIC GROWTH IN NIGERIA

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AN ANALYSIS OF CREDIT MANAGEMENT IN THE BANKING INDUSTRY (A CASE STUDY FIRST BANK OF NIGERIA PLC. ENUGU.)

THE ROLE OF FINANCIAL INSTITUTIONS IN EXPORT FINACNING IN NIGERIA FROM 2006 – 2019
(A CASE STUDY OF FIRST BANK OF NIGERIA PLC ONITSHA BRANCH)


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                                                                                            ABSTRACT
The primary objectives of this study was to examine how the financial institution export finance in Nigeria using First Bank of Nigeria Plc Onitsha branch as a case study. In carrying out this study, I used survey method in which I used the questionnaire to collect data. The target population was the staff of first bank of Nigeria Plc Onitsha Branch from which a sample of 80 was drawn. I used research questions and formulated research hypotheses. The relevant literature was reviewed for the study. The data were collected, presented analyzed and hypotheses tested using chi-square. At the end of the study a number of recommendations were made for further studies and on how to improve the Nigeria financial export in Nigeria and how to encourage the institutions for expansion and modernization.

TABLE CONTENTS
Cover Page:……………………………………………………..………i
Title Page:…………………………………………………….………..ii
Approval Page:………………………………………….…………….iii
Certification:……………………………………………………………iv
Dedication:………………………………………………………..……v
Acknowledgements:….…………………………………………………vi
Abstract:………………………………………………………………vii
Table of Contents..……………………………………………………viii
CHAPTER ONE: INTRODUCTION
1.1 Background of the Study:………………………………………………………….3
1.2 Statement of Problems:.…………………………………………………………..4
1.3 Purpose of the Study:…………………………………………………………….…6
1.4 Significance of the Study:………………………………………………………….7
1.5 Research Questions:…………………………………………………………………8
1.6 Formulation Hypothesis :………………………………………………………..9
1.7 Limitation of the Study:………………………………………………………….10
1.8 Definition of Terms :……………………………………………………………….11
CHAPTER TWO: LITERATURE REVIEW
2.1 Mexim Annual Statement of Account of 1999
Foreign Sources ……………………………………………………………………16
2.2 Sources of Finance For Export ……………………….……………………….18
2.3 The role of Financial Institution ………………………..……………………18
2.4 Factors Militating Against Export Finance:………………………………20
2.5 Historical Background to Export Financial In Nigeria:………………21
2.6 Policy Instrument:…………………….…………………………………………….23
2.7 Duty Draw Back/Suspension Manufacture in Board Scheme …26
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Area of the Study :………………………………………………………………….33
3.2 Population of the study:…………………………………………………..……33
3.3 Sample and Sampling Technique:…………………………………………..33
3.4 Instrument for Data Collection :……………………………………………..34
3.5 Validation of the Instruments…..……………………………………………34
3.6 Distribution and Retrieval of the Instrument:………………………..35
3.7 Method of Data Collection and Analysis:……………………………..…35
3.8 Analysis:………………………………………………………………………………….37
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Finding and Discussion of Finding Questionnaires
Distribution…………………………………………………………………………..38
CHAPTER FIVE
5.0 Summary of findings, conclusions and Recommendations:……46
5.1 Summary of Findings:…………………………………………….………………46
5.2 Conclusion:……………………………………………………………..……………..47
5.3 Recommendations:………………………………………………………………..48
Appendix:…………………………………………………………………………………………50
Questionnaire :…………………………………………………………………………………51

                                                        

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THE IMPACT OF BANK DISTRESS ON COMMERCIAL BANKS IN NIGERIA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)

THE IMPACT OF BANK DISTRESS ON COMMERCIAL BANKS IN NIGERIA (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)


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CHAPTER ONE

1.0     INTRODUCTION

1.1     BACKGROUND OF THE STUDY

In any modern economy, the efficient production and exchange of goods and services requires money and bank is the instrument for affecting it. The last few years have been both traumatic and revolutionary for the banking industry. The industry produced the largest number of technically insolvent and under capitalized banks. The magnitude of distress in the nation’s banking industry reached on unprecedented level making it an issue of concern to the government, the regulatory authority, the bankers and the general public.

The Nigeria banking scene was characterized by changes designed to promote banking in the country. The changes may be categorized into phases, but due to the nature of work, we will consider tow phase namely; the era of laissez – fair banking (1834 – 1952), the era of limited was monopolized by foreign banks, principally the African banking corporation which was the precursor of the (BBWA) British bank for West African the present First Bank of Nigeria, the Barclays bank DCO (Dominion Colonial and Overseas) the present day Union Banks, and the British and French Bank, the for – runner of present United Bank of Africa. Although, discrimination against Nigerians by these banks led to the establishment of some indigenous banks which unfortunately offers litter or no competition to the foreign banks essentially because of their weak capital base or poor managerial capacity. Consequently, all but three to the indigenous banks failed. The survived includes the National Bank of Nigeria established in 1933, the Agbonmagbe Bank (now Wema Bank) established 1945 and the African Continental Bank 1947.

A commission of inquiry headed by G.D. patron set up in 1948 to investigate the business of banking in Nigeria. Their report led to the enactment of the first banking legislation in Nigeria, the banking ordinance of 1952. The 1952 ordinance laid down the standard and procedure for the conduct of banking business by prescribing the mandatory minimum capital requirement for the banks both expatiates and indigenous regulations to Ʃ100, 000 and Ʃ12,500 respectively and it is also introduced regulations to check bank failure. However, the entire indigenous bank established in the country during this period also all failed. The bank failures of this era were attributed largely to the monopolistic structure of the banking industry, which allowed the foreign banks to enjoy exclusive patronage form British firms. The indigenous banks that survived were able to make it because of the support they got from their state government.

The distress phenomenon in Nigeria banking industry is of recent origin. The manifestation became discernable with some policy shocks staring 1988 with Central bank of Nigeria (CBN) directive to banks that naira backing for foreign exchange application be lodged with CBN. This was followed in 1989 by another directive requiring public sector deposits to be transferred to CBN. These two directives exposed the precious liquidity position of some banks and the distress they have subterraneous harbored. What was thought to be a temporary liquidity problem for few banks soon catches up with a lot more banks.

It is important to stress in this work that banking system was already in distress by the time NDIC was established. By them, 7 (seven) banks were known to be technically insolvent. The government at that time, did not embark upon a clearing exercise that would have removed from the system that distressed institutions because it was feared that such an action would lead to loss of public confidence and flight of foreign capital more so there was no deposit insurance institution to expeditiously manage such bank closures. The NDIC was nevertheless required to insure all banks. That means that the corporation has been involved in managing distressed banks even before it could settle down and minister enough resources for this important task.

The intermediating role of banks and their relevance both in the transmission of monetary policies and in the payment system underscore their importance as well as the problem that bank distress at the prevailing dimension in our economy could precipitate. Arising from their intermediation, banks generate financial resources and put these at the disposal of deficit economic growth in the form of increased output. Therefore, an industry wide insolvency of banks, such as the one experienced in Nigeria, should be expected to retard the economy’s rate of capital formation, reduce its level of employment and output and ultimately the pace of economic growth.

1.2     STATEMENT OF THE PROBLEM

A serious problem posed by widespread distress among banks is the threat to banking habit and the development of an inefficient payment mechanism. The loss of confidence, the after math of the distress that hit the banking sector forced several businesses to take fewer risks by taking back their fund to well established safe havens dominated by older generation banks.

This research work is therefore concerned with “Evaluating the impact of bank distress on the profit growth of commercial banks”, using (A vase of selected commercial banks).

1.3     PURPOSE/OBJECTIVES OF THE STUDY

The main purpose/objective of this study is to have an overview of the effect of bank distress on the profit growth of commercial banks. Investigate into the reasons for bank failure in Nigeria.

Other objectives include:

  1. To evaluate the cause of bank distress in Nigeria. To find out the impact.
  2. To find out the possible prevention strategies or failure resolution options of bank distress.

1.4     RESEARCH QUESTIONS

  1. What are the causes of bank distress?
  2. What is the impact of bank distress?
  3. What is the profit growth rate of commercial bank during distress?
  4. What are the effects of bank distress?
  5. What are the possible solution options to this phenomenon in the banking scene?

1.5     RESEARCH HYPOTHESES

H1:    Distress has no effect on the average profit of commercial banks.

H0:    Distress has effect on the average profit of commercial banks.

1.6     SIGNIFICANCE OF THE STUDY

This research project will be of importance of the following persons:

  1. New generation banks, which may wish to know the implication of banks distress in the banking industry and how to restore the confidence of the customers and uphold efficient payment mechanism.
  2. Nigeria Deposit Insurance Corporation: The work could be of immense help to NDIC in the area of distress management and prevention strategies. And also, in the area of failure resolution option in banking industry.
  • Students who may wish to know the extent of distress in the banking industry and the trend of distress as it affect the modern banking will also benefit from this bank.

1.7     SCOPE, LIMITATIONS AND DELIMITATIONS

While the banking impact distress in Nigeria will theoretically serve as the population of study. The project is designed to appraise the impact of bank distress on the profit growth of First Bank of Nigeria. It will also analyze the trend of this bank profit within a period of 3 years (2011 – 2013).

1.8     DEFINITION OF TERMS

DISTRESS: It can be defined as an extreme suffering caused by lack of money or a state of danger, calamity and misfortunate acute poverty.

EVALUATION: This can also be defined as form of idea or judgment of something and also to work out something in numerical value.

IMPACT: This can be defined as a strong effect or impression to bank. It is also a situation whereby something will be to be press closely or firmly together.

COMMERCIAL BANK: Commercial bank or business bank is a type of bank that provides services, such as accepting deposits, giving business loans and basic investment products. Commercial bank can also refer to a bank or a division of a bank that mostly deals with deposit and loans from corporations or large businesses, as opposed to individual members of the public (retail banking).

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BANK FRAUD AND ITS EFFECT ON BANK PERFORMANCE IN NIGERIA

BANK FRAUD AND ITS EFFECT ON BANK PERFORMANCE IN NIGERIA


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                                                                            ABSTRACT
Fraud is an epidemic dimension that has eaten deep into the banking sector as well as the entire economy. Its devastating effect manifests itself in the deteriorating balance sheet of banks as well as in economic backwardness. As a result, measures to eradicate fraud in banking sector become a central focus of the government and the monetary authorities. It was against this backdrop that this study was aimed at providing empirical evidence on the effect of fraud on performance of banks. Data for the analyses were obtained from primary data through questionnaires and secondary data from Nigeria Deposit Insurance Corporation (NDIC) Annual Report. Four hypotheses were formulated to access the impact of looting of fund, social and environmental factors, motivation and government effort on effect of fraud on banks performance in Nigeria. These were tested with simple percentages and chi-square (x2) statistical technique at 5% significance level. Results showed that lack of adequate motivation is not a major cause of fraud in banks, looting of fund by bank managers and directors constitutes the major form of fraud in Nigeria, government effort and its agencies have negatively impacted on combating fraud in Nigeria and environmental or social factors have negative impact on bank fraud. On the basis of findings, it is recommended that government should make their impact to be felt in combating fraud by establishing more agencies for combating frauds. Those managers and director involved in looting of fund should be persecuted to serve as a deterrent to subsequently once. In addition, bank staff should be properly screened to test their morality and integrity before recruitment. Adequate internal control system should also be establish to have check and balances among bank staff. It is envisaged that if all these are put in place, fraud will be reduced to its barest minimum thereby restoring confidence to bank customers.

TABLE OF CONTENTS
Cover page ……………………………………………………………………….i
Title page ……………………………………………………………………….. ii
Approval page …………………………………………………………………. iii
Certification ……………………………………………………………………. iv
Dedication ……………………………………………………………………… v
Acknowledgements …………………………………………………………….. vi
Abstract ……………………………………………………………………….. vii
List of appendixes …………………………………………………………… viii
List of tables …………………………………………………………………. ix
Table of contents ……………………………………………………………… x
CHAPTER ONE: INTRODUCTION
1.1 : Background of the study ……………………………………………… 1
1.2 : Statement of the problem …………………………………………..… 3
1.3 : Objectives of the study ………………………………………………… 5
1.4 : Research Questions ……………………………………………………… 5
1.5 : Research hypotheses ……..……………………………………………. 5
1.6 : Scope of the study ……………………………………………………… 6
1.7 : Significance of the study …..………………………………………….. 6
1.8 : Limitation of the study ………………………………………………… 7
1.9: Definition of terms ……………….……………………………….8
CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.1: Empirical study …………………………………………………. 9
2.2: Theoretical framework ……………………………..…………… 12
2.2.1: Causes of bank fraud …………………….…………………… 12
2.2.2: Categories of bank fraud ……………………………………. 15
2.2.3: Types of fraud ……………..…………………………………. 18
2.2.4: Fraud and its effect on Nigerian banks………………………… 20
2.2.5: Government attempt to prevent bank fraud………………….. ..25
2.26: Ways to prevent fraud …………………………………………..27
2.2.7: Fraud resolution ……………..……………………………….. 28
CHAPTER THREE: RESEARCH METHODOLOGY
3.1: Research design ……………………………………………….… 29
3.2: Nature and sources of data ………………………………………. 29
3.3: Population of the study ………………………………………….. 29
3.4: Sample size determination ….……………………………………. 30
3.5: Technique of analyses ……….….….………………………..…… 31
CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA
4.1 Data presentation ………………………………………….…….. 32
4.2: Data analysis …………………………………………………….. 33
4.3: Test of hypotheses ………………………………………………..33
4.4: Interpretation of result ………………………………………….. 46
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
5.1: Summary of findings ……………………………………………. 48
5.2: Conclusion ………………………………………………………. 49
5.3: Recommendations ………………………………………………. 49
Bibliography ………………………………………………………. 51
Appendix I …………………………………………………….….. 54
Appendix II …………………………………………………………55
Appendix III……………………………………………………….. 59

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A REPORT ON URBAN DESIGN (A CASE STUDY OF PART OF LOKOJA METROPOLIS I.E. NEW LAYOUT, COMMENTARY, CINIMAL, HOLY TRINITY, BAPTIST CHURCH AND ALHARI LOKOJA KOGI STATE)

A REPORT ON URBAN DESIGN (A CASE STUDY OF PART OF LOKOJA METROPOLIS I.E. NEW LAYOUT, COMMENTARY, CINIMAL, HOLY TRINITY, BAPTIST CHURCH AND ALHARI LOKOJA KOGI STATE)


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CHAPTER ONE

URBAN DESIGN

1.0    INTRODUCTION

Urban design is a collaborator and multidisciplinary process of shaping the physical environment for life in cities, towns that is in urban areas.

According to “Peter Buchana” urban design is about how to recapture certain of the qualities that we associate with the traditional city, a sense of order, place, continuity, richness of experience completeness and belonging urban design lies somewhere between the broad-brush abstractions of planning and the concrete and the concrete specifics of architecture.

Urban design is concerned with analyzing, organizing and shaping urban form so as to elaborate as richly as coherently as possible they lived experience of the inhabitants. It is the process of designing and shaping cities and towns it deals with the larger scale of groups of buildings, street and public spaces, whole neigboourhood and district and entire cities with the goal of making urban areas functional, attractive and sustainable.

This theory deals primarily with the design and management of public space i.e. the public environment, public realm or public domain, and the way public spaces are experienced and used. Public spaces include the totality of spaces used freely by a day to day basis by the general public, such as streets, plazas, park and public infrastructure. Some aspects of privately owned spaces, such as building facades or domestic gardens, also contribute to public space and are therefore also considered by urban design theory.

1.1. FIELD OBSERVATION

This involves physical and direct examination of physical and existing situation of the study area.

  1. Rekey survey:- This is also known as recognizance survey. The rekey survey was carried out to check features such as the area covered, land form major boundary e.t.c
  2. Taping:- Involve line and direct measurement of the existing structures as well as to determine the total land mass or area. From observation and practical confirmation, the study area has a total land area of about 442500m2 (metre square) and 44.25 hecter respectively.
  3. Site analysis:- The sun rise from the Eastand set at West as usually water run off from West North to the South East of the study area. Morning wind direction is to North-West afternoon wind direction to North while evening wind direction to East. We have or observes four (4) well water half functioned. While on circulation, the Angera tile area has planned circulating but others are not planned to standard.
  4. Demolition:- This involve the pulling and falling down of building/structures as well as tree and created signpost during the cause of upgrading the quality and standard of facilities in the study area, 51 houses were touched or demolish for proper implementation of the new proposal aside trees and others.
  5. Circulation:- About 75% of the existing roads are from to accident due to unusual curves and bends and undefined junction. Also some of the roads terminate to or at the middle of residents. Still on circulation, part of the liberty hotel street has not been tauded up till nor due to political bus during the administration of Alh, Ibrahim Idris as a prominent member of the street withdraw this support from his political affairs.
  6. Physical condition of buildings:- Generally, the condition of buildings in the study area is fear with just few standard houses such as school. There is a duple building behind or at back of international hotel off Hassan Otokiti close collapsing beyond repair, proper attention must be given to this situation to ensure safety of life of residents within the area.
  7. Site platting:- The platting of the study area is may in the same shape some play are bigger than others while others are in irregular shape given some part of the study area difficulty for circulation and open space.
  8. Government baise:- In the study area we discoved that the government upgraded some part of the accessibility while they left others because of political issue.

1.2    THE STATEMENT OF PROBLEMS

  1. Poor and inadequate drainage facilities
  2. Inadequate water supply
  3. Poor electric supply
  4. Poor hosing condition
  5. Improper refuse waste disposal
  6. Poor circulation

1.3    THE AIM AND OBJECTIVE

THE AIM

The aim of this work is to make necessary provisions and improvements on infrastructure in order too improve on their standard of living.

THE OBJECTIVES

  1. To make provisions for adequate drainage facilities
  2. To provide for adequate water supply
  3. Making provisions for proper refuse disposal to ensure a good housing condition
  4. To improve on the standard of circulation

1.4    SCOPE AND LIMITATION

The work some part of Lokoja metropolis i.e. new layout, cemetery, cinema, holy trinity, Baptist, Alheri. And the issues of the problems faced in that area are discussed and how the problem can be solved.

1.5    SIGNIFICANCE OF THE STUDY

The study will help to access the quality of the existing facilities of the area. And also the problems facing there, and the factor responsible for it. While help create a better living environment.

1.6    STUDY AREA

The study area has mixed occupation, some are self-employed while others are civil servant. The area is mainly for residential and few public and commercial land use.

1.7    LOCATION

The study area (part of Lokoja metropolis) is located at latitude 70 48’0”N and longitude 6044’0”E. it is among the first settlement found in Lokoja. It is in this area that one can find the government house and also the G.R.A of kogi state as a whole, the area is know to be a centre of different commercial activities in Lokoja metropolis.

1.8    CLIMATE AND RAINFALL

The study are lies in the middle but Zone. It has a average rainfall of 1300mm-1800mm and temperature of about 350c to 400c.

28 – 380c

1.9    VEGETATION

It falls within the Sudan savannah but of the vegetation of Nigeria. It is found north of decides forest Zone. The grasses found in this but are usually very short and tall, hence they receive up to 1000mm of rainfall annually and the duration not less than 4-5 month (April-September).

HISTORICAL BACKGROUND

The people that first build house in that area were Hassan Okiti and Idamodu Muhammed (a.k.a. Bawahala) before others started to develop. The settlement is a part of Lokoja metropolis and it emerged as a result of the relocation of the Tiv people. The relocation happened due to the need for the NEPA officials to find an office.

The first Christian worship centre in the united evangelical church (UEC).

The name “new layout” is used because the place was a former proposed G.R.A.

Thus, both state and local government allocated plots of land for people.

There is no general culture due to difference in ethnicity. The ethnic group includes Yourba, Ebira, Kakanda, Nupe, Koto, Bassa, Tir, Igala, Igbos

chapter one. Chapter two relate to literature review and theoretical framework concerning urbanization and its challenges. The research method is outlined in chapter three while the responses from the questionnaire respondents were presented and discussed in chapter four. Concluding comments in chapter five reflects on summary, conclusion and recommendations.

 

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