ABSTRACT
This project is a
thorough research into the the banking sector in the economic developmemt of
Nigeria. A case study of union bank of Nigeria Plc . In carrying out the
research investigation into the performance of banks and the extant
they have contributed in the economic development of Nigeria especially
in the concerns grass root development were identified and properly
evaluated. Also various measures adopted by the management of these banks
were identified and appraise and suggestion on how improvements can be made
contribution toward the return on investments and contribution towards
the economic well being of the nation are achieved.
To facilitate the work data were collected from both the primary and secondary
sources; pre3sented to aid test the development hypothesis on the basis
of estimated population means.
Within he limit of the analysis carried out it was observed that banks have
many problem facing them due largely to the inability to function very well in
some places due to lack of infrastructure lack of sufficient funds
lack of skilled workers and prohibitions.
TABLE OF CONTENTS
CHAPTER ONE
1.0 introduction
1.1
Background of the study
1.2 Statement
of problem
1.3 Purpose
of the study
1.4 Scope
of the study
1.5 Research
Questions
1.6 Null
Hypothesis
1.7 Significance
of the study
CHAPTER TWO
2.0 Review
of literature
2.1
What is a bank
2.2 Banking
in Nigeria
2.3 Community
banking in Nigeria
2.4 Performance
measurement in community bank
2.5 Summary
of related literature
CHAPTER THREE
3.0 Methodology
3.1
Research design
3.2 Area
of study
3.3 Population
of the study
3.4 Sample
/ sampling procedure
3.5 Instrument
for data collection
3.6 Validation
of the instrument
3.7 Reliability
of the instrument
3.8 Method
of administration of the instrument
3.9 Method
of data analysis
CHAPTER FOUR
4.0 DATA
PRESENTATION AND RESULTS
5.0 SUMMARY
OF RESULTS / FINDINGS
CHAPTER FIVE
5.0 Discussion
implication and recommendation
5.1
Discussion of results
5.2 Conclusions
5.3 Implication
of the results
5.4 Recommendations
5.5 Suggestion
for thurther study
5.6 Limitation
of the study
References
Appendix
CHPATER ONE
INTRODUCTION TO THE
STUDY
1.1
BACKGRUND OF THE STUDY
Ever since the introduction given by Good to man to “Be fruitful
and multiply” replenish and subdue the earth” man has alone a lot
to pursue this injunction of subduing the earth. By this it entails
among other things the development of the world as a macro society for
the overall good of man- economically politically socially and otherwise.
The wheel of change has been rolling on through the entire world transforming
virgin lands deserts oceans and seas to the economic advantage of man.
Nigeria was unknown then. The first step in the British acquisition of
Nigeria was the annexation of lagos in 1861 (ONWUBIKE 1973).
It marked the first major step taken by the British
government in the 19th century to acquire economic
and political domination over the people of Nigeria. A chattered company-
the royal Niger company was administering the high land of Nigeria – North of
Lokoja – on behalf of the British the British government had declared a
protectorate over areas claimed by the company in 1887. Then
on 1st Jan. 1990 it took royal Niger company
and named it the protectorate of Northern Nigeria with laggard as its
first high commissioner. Floral Shaw- formal colonial correspondent
of the times on London who later became Lugards wife ealled this
great political unit Nigeria in 1900. (onwuikeo,1973) finally
the two Selecta government : the colony and the protectorate of Northen
Nigeria on 1st Jan. 1914. Lugard became its first
governor- general. The coming into existence of Nigeria was aptly
described by late sir Ahmade when be rather solemnly said “God did not
create Nigeria the British did” (onwubiko 1973). Nigeria continued in
this march toward development in every facet of life as a new emerging
nation in the west African region and by October 1960 she was
granted political freedom and emancipation when she was granted
independence. To crown the whole stride it had already made she was
granted a republican status in 1963.
To grapple with the attendant problem as an emerging nation and satisfy its
citizenry various development plans were launched to accelerate economic
development so as to put Nigeria in the proper place among the
comity of nations. The first development plans was slated to run
from 1962 to 1968 but extended to 1970 on the account of the civil
war. It witnessed the construction of the Niger Dam project as well as
the development of roads light industries such as textile
rubber and groundnut processing which used agricultural crops ; the
encouragement of agriculture in the from of establishment of from institutions
and granting of loans (Anderson, 1976).
The second development plan (1970 – 1975) experienced a lot of problem.
Recovery from civil war delayed the implementation of some project.
The funds that were anticipated were not forth coming and there was lack or
technical partners needed to carry out some aspects of the plan.
The third development plan covered a period of five years (1975 – 1980). The
principle long run objectives are to similar to those of the proceeding post
independence plans. The objectives are to make Nigeria.
1. Argent
and dynamic economy.
2. A
united strong and self reliant nation
3. A
just and egalitarian society
4. A
land bright and full of opportunities for all citizens.
5. A
free and democratic society.
A 90%
annual rate of growth G.D.P was assumed for the plan period and the total
capital investment was to be N30 billion. The plan strategy was to
utilize the country’s resources to develop the productive capacity of the
economy. The plan was revised upward in 1976 (Ojo, 1982) some of
the highlights of this plan were Agriculture. N1.4mbuilding of two
oil refineries at warri and expanded. The iron and
steel industry. Which featured in the previous plans was to
be
established at Ajeokuta
in Kogi state. A total of N6000m was allocated to the
industrial sector. Development of the infrastructure also took a large
slide with a total of N4000m being allocated. More roads were to
come under the control of the federal government and a modernization
of the railways was planned. The electricity capacity was to be extended
to 1,500 meg watts with improvements also in its distribution all costing N
163m. social service were not neglected ; N2400m was budgeted
for the arimed forces.
The 4th development
plan equally followed suit to run from 1981- 1985- and described equally what
development is all about. Since development is multidimensional in
definition to road thus:
True development must means “the development of man- the unfolding and
realization of his creative potentials enabling him to improve his material
condition and living through the use of resource available to
him. It is a process by which man’s personality is created
organized and disciplined – which is the moving force behind socio -
economic transformation of the society.
Most community leaders especially during the colonial times saw development as
more of provision colonial times saw development as more of provision of
schools health centers hospitals post offices hall, churches mosques,
good roads potable water electricity and telephone. Ewuly (1996).
However in the post independence era, the development process came to put more
emphasis on the development in the material conditions and living (of man)
through the use of came to stress production and productivity.
In spite all these development plans experimented in the past Nigeria
like other countries of the third world has continued to face two
challenges of economic development. The first challenge is the
basic level need to attain this need involved the problem of harnessing
the vast natural and human resource of the country so as to extend
her national economics muscle and thereby enable her to catch up
with the rest of the civilized world in terms of living
standard. (Okafor 1991)
The other challenge is the need to achieve qualitative economic
growth by attaining balance socio- economic development. National
development is balanced when it permeates all the social and
geo-political strata of a nation and affects all sectors of the national
economy. The problem of economy developments in Nigeria as in other
development countries is therefore not just that of getting the economy
to run faster than the rest of the world economy so as to catch up
with but to get the economy to run on both legs. Nigeria economy
has manifested symptoms of non-balanced economic development in various ways.
This is evidence in the near total dependence on oil the non- diversification
of the export basket the over emphasis on coerce (on –banking
) to the determent of authentic (value added) manufacturing. It accounts
for the litter to near total neglect of grass root development.
Fortunately Nigeria government has demonstrated unusual resolve and taken
definite moves to grapple with the problem of non- balance
development . this underscored by the problem of non- balance
development. This underscored by the various development projects
like OFN- operation feed the nation the Agricultural development
project (AOA)DFRRI, SAP (structural Agricultural program) which was
designed primarily to deal with fundamental economic problems
generated by years f fruitless effort at non- balance economic development.
The policy component of SAP while is relevant for this project is the
impact of rural banking as it regards grassroots (economic development).
The researcher wants to find out how far these bank have
contributed at improving the economic situation of this country -
with particular interest in Union bank Nig. Ltd .
How the ohha community bank Nig- Ltd. Measured up to the basicterms in
the definition of a community bank? Are they operating within the scope
of functions of community bank?
ORGANTGRAMME OF OHHA
COMMUNITY BANK NIG. LTD
Board of directors
managers
Accountants
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GSO
Credit
Officer
Marketing
manager
internal
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Supervisor
supervisor
Clerts
Typist
Cashier
Messenger
Night watchman
1.2 STATEMENT
OF PROBLEM
Community banks have
been assessed as capable of unshaken the monoculture economy of the
country by empowering the entire productive sector at the grassroots level
therefore ensuring even development across the country
community banks promote rural development by providing effective
simple services to the people an instrument for inculcating proper
banking habits (saving and investment ) is now in place for the rural
dwellers to work towards increasing his/ her per capita
income and therefore be able to contribute more effectively
toward the development of the area in which he/she lives.
When idea is conceived and placed on the drawing board it appears
rosy. But when it comes to practical implementation most of the
bitterness and problem emerge.
This study addresses the
following problems.
1. Has
ohha community bank helped in economic development of Nigeria?
2. If
ohha community bank measured up to the standard set for the community bank by
NBCB?
3. The
essence of the introduction of the community banking system.
4. The
operational mechanism of collatersation banks removed the issue of
collaterisation of loan before any person can enjoy any so as to achieve the
desired economic development .
1.3 PURPOSE
OF THE STUDY
The purpose of this
research work areas follows:
1. To
find out the extent the establishment of ohha community bank helped in the
economic development of Nigeria
2. To
know if ohha community bank measured up to the standard set for the
community Bank by NBCB
3. To
know the essence of the introduction of the community banking
system.
4. To
find out the operation mechanism of collaterization bank removed the issue of
collaterization of loans before any person can enjoy any, so to achieve
the desired economic development
1.4 THE
SCOPE OF THE STUDY
The scope of this
research project boarders on ohha community bank economic
development in Nigeria ohha community bank measurement of the
standard by the NBCB essence of introducing community
banking system and operational mechanism of collaterisation
bank removed so as to achieve the desired economic development.
1.5 PEREARCH
QUESTIONS.
To solve the
research problem the investigator has asked the following question.
1. To
what extent has ohha community bank helped in economic development
2. To
what extent has ohha community bank measured up to the standard set for
the community banks by the Board for community banks?
3. What
is / are the essence of the introduction of community banking system?
4. To
what extent has the operational mechanism of collaterisation bank removed the
issue of collaterisation of banks before any person can enjoy any so as to
achieve the desire economic development?
1.6 RESEARCH
HYPOTHESIS (NULL HYPOTHESIS)
H0. There is no
significant difference (p < 0 . 05)between the mean perception of
senior and junior staff of ohha community bank with regards to the
economic development through community banks.
Ho. There is
no significant difference (p < 0.05) between the mean perception of
senior and junior staff of ohha community bank with regard to
whether the bank measures up to the requirement or standard set by NBCB.
Ho3
There no significant difference (p < 0.05) between the mean perception of
senior and junior staff of ohha community bank on the importance /
essence of community banking system.
H04 There
is no significant difference (p < 0.05) between mean
perception of senior and junior staff of ohha community bank with regards
to how the banks deals with issues of colletarisation of loan.
1.7
THE SIGNIFICANCE OF THE STUDY
The study is very simply
especially now that all hands are no deck to enhance the development and
growth of Nigeria economy. This study will be of immense benefit to rural
dwellers to sensitize them on the importance of depositing their
surplus fund with the banks for sate keeping it is necessary to
investigate and evaluate the functions for the community banks in their
catchments areas. This will inform prospective customers of the
service available at community banks.
This study will be of immense help to small and medium scale traders
c0-operative societies and formers etc. to invest their money and property on
project that would field optimum result. It will also
aid them if they want to borrow from the bank since from the study it is
required on loan from the community banks.
To students researchers and those with curious and inquiring minds it
will extend itself as a pedestal or substratum upon which expansionary and
follow –up study offering course on community banking it will be added to
the wealth of literature available for referencing.
Department | Banking and Finance |
Project ID Code | BFN0185 |
Chapters | 5 Chapters |
No of Pages | 71 pages |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2347043069458 |