BANKS PARTICIPATION IN INDUSTRIAL DEVELOPMENT IN NIGERIA
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Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER: 0115939447
Account Name: Chi E-Concept Int’l
Account Name: 3059320631
Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
Account Number: 0117780667.
Swift Code: GTBINGLA
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1.1 STATEMENT OF PROBLEMS
1.2 OBJECTIVE OF THE STUDY
1.3 SCOPES AND LIMITATION OF THE STUDY
1.4 DEFINATION OF TERMS
- THE NEED FOR INDUSTRIALIZATION
2.1 THE ROLE OF INDUSTRIALIZATION
- THE NEED OF BANKS INVOLUEMENT IN INDUSTRIALIZATION
- THE PROBLEMS OF INDUSTRIALIZING AND INDUSTRIALIST IN NIGERIA
- SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
In Nigeria since the oil boom in the early 70’s has been a victim if monopolistic economy and since then we had been enjoy the so called “PETRO NAIRA” without adequate involving in a sound policy that will keep the nation economy in a firm foundation for study growth. Though, the country importance of industrialization as for back as 1964, yet without “PETRO NAIRA” started flowing in they have blind fold as to ignore the important of establishing industries to ensure a diversified economy.
Industrialization has been approved beyond reasonable doubt as very crucial for a nation to survived henceforth it is pertinent that we explicable manifest how the role the banks can be employed to the development of these industries.
In doing these, we will reach to an extent of study the medium and small-scale industries which are very crucial to economy. To end this, Banks find it difficult to top lure prospective investors having lost the confidence and credibility respond on them to save.
Consequently, this militates against the proper development of industries in any economy like Nigeria. In the light of the above importance of industries they need assistance for their survival. To achieve this, however their activities growth and development need to been matched with financial sound system.
1.1 STATEMENT OF PROMBLES
In this section, the researcher focused on the prevalent problems that led to the services which bank performs for sustenance of industrialization in the economy. These services could be seen as the provision of capital for industries in the form of loan such as long term and medium, which the industries could use for it financing.
Also an overdraft is an arrangement whereby banks could allow the customers to overdraw his account up to certain him and within a specified agrees to bring the accounts back to credit position at the end of the period.
Apart from granting loan and overdraft facility, the banks can equally render professional services, advice leasing and factoring. Also, Banks can equally extents to invoice discounting, hire purchases, hill discounting