TABLE OF CONTENT
CHAPTER ONE
INTRODUCTION
1.1
Background of the study
1.2
Statement of the problem
1.3
Purpose/objective of the study
1.4
Significance of the study
1.5
Limitations of the study
1.6
Definition of terms
CHAPTER TWO
2.0
Review of related literature
2.1
Causes of financial mismanagement in financial institution
2.2
Effect of mismanagement in financial institutions
CHAPTER THREE
Research design and
methodology
3.1
Sources of data (secondary source only)
3.2
Location of data
3.3
Method of data collection (literature work only)
CHAPTER FOUR
4.0
Finding
CHAPTER FIVE
5.0
Conclusion
5.1
Recommendation
5.2
Bibliography
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
A financial institution
is an organized body concerned with the management of money. This is to
say that the institution is responsible for the leading and borrowing of money
in other words, it is an institution involved in financial intermediation where
money is mobilized and channeled from the public sailing (those who have
surplus funds want to save to those who want to invest in productive
activities. Some of the institution in Nigeria are commercial banks,
stock exchange market, merchant bank, CBN insurance companies, development
banker.
Mismanagement is defined
by land-man English dictionary as controlled or deal with private, public or
business affairs badly, unskillfully etc. The mismanagement is also
defined by Oxford English Dictionary, Version, it states that mismanagement
–mismanage, bad improper administrations to manager-badly or wrongly.
Then financial mismanagement according to the above definitions may be improper
administration, bad or wrongly used of money, inadequate collateral security or
granting loan. Misappropriation of money or management of finance
unskillfully. They are good in selling of securities. They are
sources of revenue to the government. They also provide a lot of advice
to the government. They help the government extremely in international
trade etc.
To the public and
private individual, bank provide drastic support to public and individual
affairs. The bank grant loans advances, make payment locally or outside
Nigeria. Infact, they perform variety functions to satisfy the financial
needs of all types of customers from small personal account holder to the big
incorporates and public organization. That is by accepting of deposits,
safe custodying agency services etc.
Furthermore,
mismanagement in financial institutions make them unable to tackle their
problem and obligations like paying of taxes to the government, cash-reserve,
reserve rates, workers salaries going out loans etc.
After the overthrown of
the last civilian administration in the country, many financial institution
made a lot of staggering discoveries to funds misappropriate through inflated
contracts, bribery and kick backs etc. Since then Nigerian economy has
become a sick body up till today. Infact financial analyst’s puts public
fund misused and those smuggled outside the country at several millions of
naira.
Finally, the various
officers mostly the managers and cashiers of those institutions are accused of
the abnormal of mismanagement in financial institutions.
1.2 STATEMENT
OF THE PROBLEM
In this aspect it is
well known fact that adequate management in the financial institutions well
enable them pay their roles as supposed and achieved their basic aim or
objectives as well. They are unable to perform their roles in selling of
securities paying at taxes sources or revenue to the government help in
international trade etc. Thereby encountering some problems which may be
stated.
i. They
are finding themselves unable to meet customers withdrawals
ii. Customer
withdraw much from them thereby reducing deposit liabilities much constitutes
the main source of banks, loan able funds.
iii. Unable
to abide by the relevant laws especially before the financial ordinance.
iv. That
they are having loss of trust by their customers in as much as not investing on
them anymore.
v. That
they are having poor turn-over fear.
vi. That
issue has accommodated distress in the banking system which has enraged
deterioration and failure in banking of financial activities thereby revising
of the gains made in the past.
PURPOSE/OBJECTIVE
OF THE STUDY
Financial institutions
have been identified as the catalyst for or meaningful economic transformation
of the country. This is no doubt that financial institutions are
important sector in the economy of Nigeria financial institutions encountered a
lot of financial mismanagement lending to incapacities. These area
problem that associated with the interior operators i.e. the managers,
accountants, cashiers etc.
I am strongly believe
that if the cause of financial mismanagement in financial institutions and its
effects and set of people it affect, is identified, it will give way for easy
and smoothes eradication or control in these institutions, its effect such as banks,
stock exchange market, capital market etc. So as to achieve its
objectives and aims in life. It provides machinery for which medium and
long term funds are mobilized and made available to business, government and
individual. It is in video of this that I have taken up this course of
study to examine thoroughly the cause of this financial mismanagement as well
as its effects and the people it affected and how it affects them.
1.3 SIGNIFICANCE
OF THE STUDY
This research work is
centered in causes and effect of mismanagement in financial institution.
The significance of this research are:
1.
It will enable the research ascertain the remote and immediate problems
involved in the mismanagement on financial institution.
2.
Another essence of the researcher, is that the mismanagement on financial
institutions in the country and its environment and the people of Nigeria as a
whole will know the problems that had been militating against the effective and
efficient of mismanagement in financial institution in the respective states or
country.
3.
The result of this study will inevitably lead to a decrease in the
mismanagement in financial institutions.
1.4 DEFINITION
OF TERMS
Management: This simple means the controlled or deal with
private, public or business affairs badly, unskillfully that will make them
inability to meet their obligations.
Financial: This deals with, or relating to money, services,
institutions, advice, assistance, support etc.
Institution: This means a large, important organization or
typical feature of a society or group that has a particular purpose.
Examples like banking, university etc.
Department | Banking and Finance |
Project ID Code | BFN0051 |
Chapters | 5 Chapters |
No of Pages | 30 pages |
Methodology | Null |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2348039638328 |
Contact Us On | +2347026816414 |
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