This is a comprehensive research
work written by Miss NWANKWO AMALACHUKWU with registration number BK/N2003/197
on the problems and prospect of new generation banks in Nigeria
The research shows
the activities of new generation bank, how they operate and how it improved in
the rural area and business sector. Also how government restate the activities
with various monetary police such as the minimum lending rate, acceptance
deposit. And it treated the problems associated with new generation bank in
Nigeria and recommended solution.
TABLE OF CONTENTS
GROUND OF THE STUDY
STATEMENT OF PROBLEM
OBJECTIVE OF STUDY
SIGNIFICANCE OF THE STUDY
LIMITATIONS OF THE STUDY
DEFINITION OF TERMS
2.0 REVIEW OF
DESIGN AND METHODOLOGY
LOCATION OF DATA
5.0 RECOMMENDATION AND
The banking act of 1960 defined
banking as business. The business of receiving monies from outside sources as
deposits, irrespective of the payment of interest, and the granting of money
loans and acceptance of credits or the purchase of bills and cheque and sales
of securities for accounts of others. Bank may define as any person or
corporation, that provides the minimum banking services and which is licensed
as bank by the federal government of Nigeria a banking institution.
1.1 BACKGROUND OF THE STUDY
The development of new
generation bank in Nigeria can be traced back to merchant in the former west
Africa colonies created, the need for locally base. Financial institutions for
many has been replacing the old barter system, and the British silver currency
was increasing used in business transaction, government and individual for
investment. The need for new generation bank is to import these coins,
distribute them and absorb any surplus.
Moreover, the story of
financial institution in West Africa may be traced back to 1891, following an
attempt imitated by the chairman of elder demister. & company, a shopping
company which operated between West Africa and liver-pool.
In 1892, the Africa banking
corporation was incorporated following by the bank of British West Africa in
1894 to serve the bankers aspiration of Nigerians. In 1916, the colonial bank
was established and was take over in 1925, by Barcloys bank. Together with the
Angjo Egyptian bank the national bank of South Africa, they were converted to
the Barclays bank.
1.1 STATEMENT OF PROBLEM
The government through C.B.N.
has succeeded in persuading commercial banks to open up branches in new
generation areas, to see how government polices are put to practice and to
identify the problems encountered by these banks in the process of opening
up branches in new generation bank in areas. The problems observed so far
1. Why the structural
arrangement and management of Nigeria commercial bank as hindrance to the
extension of bank services to new generation bank in areas?
Why manpower constraints?
3. Why poor infrastructural
facilities and accommodation to this new generation bank?
Why the pessimistic attitude of bankers towards themselves has also contributed
to the problems affecting the new generation banking programme?
SIGNIFICANCE OF THE STUDY.
The importance of this study is
to find out if the rural population has become aware of branch banking in their
communities. It is also to find out if the programme has achieved its aims of
promoting and cultivating the banking habits, mobilizing rural savings,
provision of credit for small-scale ventures and creating employment
opportunities in the rural communities. There is also the need for deliberate
policy monetary authorities aimed at strengthening the banks and the use of
cheques in rural areas instead of demanding for cash.
This study will show how
far the commercial banks have complied with the CBN guidelines on rural banking
The order to aid the
understanding of readers, some of the terms used in the paper demand definition
RURAL AREA:the may be defined as any area in a state
not designated urban area by the state government.
CROSS DOMESTIC PRODUCT: This is more often written and mentioned
by economists in the short form, GDP, and it means the monetary equivalent of a
country’s goods & services produced with a given period, usually a year.
URBAN AREA: urban area can be defined by the act
as on area of a state designated as such by the state not so designated in a
RURAL DWELLER: This area the inhabitants of rural
communities village and clans. They live in national and undefiled environment.
BANK: is any person or corporation that
provides the minimum banking services and which is licensed as a bank by the
federal government of Nigeria as a banking institution.
TERMS AND CONDITIONS APPLY
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