DETECTION AND CONTROL OF FINANCIAL FRAUDS IN NIGERIA  BANKING SYSTEM; PROBLEMS AND SOLUTION

(A CASE STUDY OF U.B.A)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

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ABSTRACT

Banks deal essentially in cash financial instrument and other documents which are generally of a negotiable and easily transferable in nature. Hence it is very pertinent to say that the exposure of banks to both internal and external fraud is very great. This practice is very common to area involving cash, cheque and fraud transfer operation. Much research and thought are increasingly being directed towards the study of the causes of fraud in Banks because of its affects on Banking and the entire economy.

Recent study carried out by financial institutions training centre, Lagos, showed that causes of fraud reported annually between 1989 and 1998 was about 500 and the annual average money involved in attempted fraud was thirty-six money naira while the annual average lost to banks and customers was sixteen million naira. It may not be said to be an over statement that these figure may have risen geometrically upwards afterwards when about seventy eight percent of our banking operations are going to rural areas where poor institutional and infrastructural factors militate against efficient and effective checks on the branches in these rural areas.

Another problem facing our nations banking system is that of long cheques, frustrations, delays and disappointments being experienced in the banking halls by customers while either paying in or withdrawing their hard earned money. These associated problems and deficiencies have in recent years resulted to disencouraging growth of banking habit among the public. This our society has been turned into a mere “cash society”.

My personal experience as an accounting personal in one of the private companies and various articles I read on the problems of our banking system have aroused my deep interest in this project topic. It is therefore my pleasure to carryout this e on ‘detection and control of financial fraud in Nigeria banking system” using U.B.A plc as a case study.

Chapter one of this research work deals with introduction and over view on financial fraud.

The second chapter reviews the previous write-ups on the subject matter.

The third chapter assesses the work procedures on banks and focuses the loopholes inherent in there that aid fraudsters carryout the nefarious activities.

Chapter four of this work did on analysis of financial frauds by examine the methods used by fraudsters indefrauting the banking system. It establish that falsification of accounts and forged cheques and signatures ranked highest as means of perpetrating frauds.

An examination of categories of persons involved in the preparation of fraud reveals that bank staff are in the majority. This chapter also focuses on the final incidence consequence of bank fraud.

Chapter five discusses the general prevention techniques (solution) available to bank management in checking financial fraud, while the last chapter evaluates and concludes the with personal economic on the issue of financial frauds in our banking industry.

 

 

 

 

TABLE OF CONTENT

CHAPTER ONE: INTRODUCTION

• Background of the study 1
• Statement of the problem 4
• Objective or purpose of the study 5
• Scope or delimitation of the study 6
• Research questions 7
• Hypothesis 7
• Significance 8

 

CHAPTER TWO: REVIEW OF LITERATURE 

• Who are the bank fraudsters 13
• Fraud and fraudulent practice in banking services 16
• The legal framework 20
• What is fraud                                                          25
• Causes of fraud in U.B.A bank 29
• The effects of fraud in U.B.A. Bank 31

 

CHAPTER THREE: METHODOLOGY

• Research design 33
• Area of the study 44
• Sample and sample procedure 45

CHAPTER FOUR

• Data presentation and result           50

4.1     Summary of results/findings                                    50

 

CHAPTER FIVE

• Discussion implication, recommendation 74

5.1     Discussion of result                                                 75

5.2     Conclusion                                                              80

5.4     Recommendations                                                   84

5.5     Suggestions for further research                              87

5.6     Limitation of the study                                             88

References                                                               89

Appendices                                                              91

 

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND TO THE STUDY

          There has been no single accepted definition of term “fraud”. Fraud in whatever form is limitless on classification. This is why courts and writers on fraud shirk or try to escape away from giving a decisive definition. Notwithstanding, the varied meanings attached to the concept of financial fraud the author addressed the subject with the following working definitions.

Oxford and Chamber dictionaries define fraud as a criminal deception, act of deceptive trick, cheating swindling person or thing that deceives.

Longman dictionary define fraud as “an act of deceitful behaviour for the purposes of gain which may be punishable by law.

In the mind of civil court of justice, fraud may be said to cover “all acts, omissions and  concealments which involve a branch of legal or equitable duty trust or confidence justly reposed and injurious to another or by which an undue influence or available is taken off.

Brmifagbeni define banking fraud to mean an act or cause of deception deliberately practiced to gain unlawful or unfair advantages such deception directed to the detriments of another. The goes further to define fraud to mean depriving a person dishonestly or some thing which is his or of something to which he or would or might but for perpetration of the fraud be entailed.

Having closely studies these approaches to definition to fraud especially from the banking perspective. One may correctly see bank financial fraud as a deliberate act by an individual or group within or without the Nigeria banking system to cheat, swindle, deceives or manipulate in other to disposes the banks depositors/shareholders of their funds.

Therefore fraud and forgone in banking transactions can be perpetrated through falsification of entire in accounts of customers with a view to take advantages of the excess proceed.

Despite several definitions of frauds, the author believes that the ones so far given are rater appropriate, advantages and inspiring for the purpose in which the research work intends to achieve. This is because, they contain the basic  elements of fraud which include that:

1. There must be decent or deception directed to the detriment of another or entirety.
2. A false representation has been made knowingly or without belief in its truth or recklessly, carelessly, whether it true or false.
3. To obtain damages for deceits, it must be proved that the defendant intended that the plaintiff should act on it an suffered damages in consequences.

The position of banking system in our economy cannot be over emphasized. They act as the ‘conduct pipe’ through which all the financial transactions pass. However, fraud has proved a serious bottleneck to the proper functioning of the roles of the banking system to the Nigeria economy. People are beginning to get worries and sooner than later may loose confidence in our banking sector due to mainly the very increasing incidence of fraud in our today’s banks. Banks as the store house of the public funds and properties should be on trust not fraud.

• STATEMENT OF PROBLEM

The frequent cases of financial fraud in many financial institutions in our country is now taken as the utmost concern to financial experts and micro encomiasts. This has also initiated that task of seeking solutions to eliminate its occurrences. To some banking experts, the issue of fraud is an internal vice in the Nigeria banking system. They argue on this because a good number of fraud occur among our banks without the knowledge of outsiders even where the public is aware it doe’s not effect the rate at which customers withdraw or deposit money.

These ex

COMPUTERIZATION AND ITS IMPACT ON ORGANISATION EFFICIENCY. (A CASE STUDY OF NEPA, ABUJA)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

ABSTRACT

This work is a case study and examine the impact of the computer on the efficient of operation in the National Electric Power Authority NEPA Abuja.

There exist a significant number of authority working on the general subject of the computer and its applications none of these literature  at least in this country, have cared to test practically how the computer effect work operations in an indigenous business especially in public corporation.

This project is an organized effort to break the trend. This study comprises five chapters: –

In chapter one, the problem was defined and the objective of the study was stated.

Some existing and related literature  is examine in chapter two.

In chapter three, research design and methodology, population, sample and method are discussed.

Data presentation and research result will be treated in chapter four. The discussion will cover major contributions and some problem of the computer in the authority under review.

Chapter five summaries findings and based on this findings recommendation will made for future implement. Findings and recommendations will be made based on the various chapter.

There also will be a conclusion based on five chapter as well as suggestion for the research that will be made in the nearest based on the research work on the chapter that are treated will also have to make notes and make  reference cornering various issues discussion in different chapter and bibliography.

 

 TABLE OF CONTENTS

CHAPTER ONE

• Introduction 1
• Objective of the study 8
• Statement of problems 10
• Research hypothesis 11
• Scoped and limitation of the study 12
• Definition of terms computer 13
• Notes and reference 15

 

 

CHAPTER TWO

• Review of related literature                                     16
• Erroneous notion of computerization cost to NEPA 21
• Improper guidance and fear of failure o computer in NEPA 22
• Computerizing with bare hands in NEAP 23
• Absence of an adequate methodology in NEPA 25
• Lack of high level sponsorship of computer in NEPA 27
• Seeing computer as a threat to the management decision makers ion NEPA such as the accountant and Auditor.                    28
• History of computer and their business uses                               31
• National Electric Power Authority as business entity 35
• Installing a computer based processing system for billing

in NEPA                                                                            38

• The computer 40
• Types of computer 42
• Modes of processing 45
• Historical prospectus of data processing 47
• Conclusion 48
• Notes and reference                                         51

 

CHAPTER THREE

• Research design and methodology 53
• Notes and reference 55

 

CHAPTER FOUR

• Data presentation analysis and findings 56
• Sources of document the billings of NEPA                      59
• Test of hypothesis 63

 

CHAPTER FIVE

• Summary of major findings, recommendation and conclusion
• Summary of major findings 82
• Recommendations 85
• Conclusion 91
• Suggestion for future research 93
• Notes and reference 94

BIBLIOGRAPHY                                                                       95

CHAPTER ONE

INTRODUCTION

          In this introduction, we will first look at some American great men, who contributed one way or the other in today modern computer.

We will first look at Drucker who proclaimed that man should live in turbulent times. Another of his country man Bernnis has been adventurous as to suggesting that we are witnessing a break with the nowadays traditional bureaucratic style and structures contemporary industrial society.

Tosher’s views that we are living through a period of massive social development.

Computes are currently in use in many companies and organisations, the appliances and administrative activities.

In addition, they are assisting with a wide range of well known applications which at first glance may seen pointless.

Currently the increasing connection exist between in the technology advantages enjoyed by industrialized nations and their intelligent use to computer technology.

The history of development shows that so far no industrialized nations has been able to make it without the use of computers.

It is hardly surprising therefore that even in under developed countries, the use of computer is gradually becoming the rule, rather  than exception.

Most certainty, computer has come to stay and our duty is to embrace it.

The complex nature of decision which that must be taken in today’s industrial set up business and government policies often makes the use of computer mandatory of effectiveness is desired.

The use of computer makes possible the compression of large volumes of data (such as are found in many industrial business and government establishment like (NEPA) into a small storage space.

In storage and retrieval of information are speeded up and can be dated as need arises with the use of computer.

Where records are not speeded and update when due, the information content gradually and becomes obsolete than management decisions would be sub-optional and in effective due to lack of valid data on which to base them.

Similarly, if data on past researched developments effort are computer based and readily available, scientists and engineering would case to waste useful efforts and scare research forms trying to reinvent what unknown to them has already been invented by others.

Available resources can then be concentrated on areas where they are bottle necks to break. In many profession such as law and medicine there is order to deal with the present situation such case studies and references are greatly facilitated when the operational data is computer based.

There are a host of other similar samples. It is not wonder therefore, that managers planners, administrators, security, businessmen and industrialists now feel an urgent need for computers in their respective organisations.

We know that one of the perennial problem confronting both the public and private sector in developing countries is that of absenteeism and low productivity of the work force often. This is imposed by external factors such as the poor and time consuming service obtain able at such vital establishments as banks, post offices and other places where people spent nearly the full working day just to collect money from their bank account are not common, this is the price to pay when such essential services are not computerized.

Absenteeism is very costly to employers of labour, beside imposing a bad pubic image on the absenteeism causes money to be spent on work not done.

Whenever the defaulters are paid their wages and salaries a sizeable amount of that money is actually paid for work not done for the enterprise.

Computerization can remove this wastage guarantee quick service at series point of vital importance to the public and improve productivity.

Such computerization effort often cost far less than the money it would same the general public revenue generation scheme.

Many people evade and some of the tax evaders also try to grab more than their shore of social amenities provided with tax payers money because of their social positions.

Deplorable through this is, many defaulters could not be apprehended owing to the lack of adequate information on taxable adult geared towards easy identification and tracing of evaders.

Computerization can ensure that taxable adult is automatically linked with all this or her taxable assets.

This include wages or salary income from business, fleets of vehicles, house, land rented out to others, market orals and every conceivable sources of income.

The same will be true for commercial enterprises would be traceable and can be made liable to payment. Lack of computerization in an internal revenue generation schedule amidst exploding population is at the moment costing several developing countries millions of naira annually.

Therefore, there is need for computerization especially in the area of management decision making that can cover cost volume, profit analysis, variance analysis and decision under uncertainty.

What of techniques including changing values of parameters subject to certain contracts. It is more convenient to use computer to do recalculations than not, but the emphasis is more on the understanding of the techniques.

The need to understanding an integrated manner complex business making an how it affect and is in trun affected by the market. For instance, how much money should be spent on advertising product plants and machinery, personnel research and development how much money should be spent on advertising one each period of time.

How much that should be borrowed from banks because of the difficulty in controlling the environment. The studies are normally carried out through management decision and busin

 

AUDITING AS AN AID TO ACCOUNTABILITY

A CASE STUDY OF ENUGU STATE POST PRIMARY SCHOOL MANAGEMENT BOARD (PPMB)

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

ABSTRACT

An economy moves as efficiently on inefficiently as the people who manage its affairs. Business cannot thrive if we do not have an adequate number of men with their requisite knowledge, skill and competence.

It is in recognition of these fact that an effort is made in this research work to show the impact of Auditing in public sector.

For the sake of clarity a and orderly presentation of relevant materials, the body of this work is divided into five chapters.

Chapter one is the introduction which considers among other things, the Auditing curiosity about Auditing. Historical background of the study, statement of problem, objectives of the study, research questions and hypothesis, significances of the study, limitations and delimitations and equally definition of some technical terms.

The second chapter discussed the review of related literature  which comprises different opinions from different authors. Auditing and accountability declined, origin and development of audit, public and short note of public accountability, government accounting procedures the role of internal audit unit, statutory positions, power and functions of auditor general and audit report.

The third chapter dealt with the methodology and design of the study that is made up of research design data analysis, test applied (personnal interview and questionnaires). oral interview, sampling procedures or methods, data collection (primary and secondary data) and questionnaire applied.

Chapter four x-rays the data analysis and presentation which includes analysis and interpretation of data from responses of the respondents.

The final chapter presents the findings, recommendation and conclusion. The samples of questionnaires and bibliography are under the appendix of the write-up at the back page. Also in the bank page is the application letter to the Enugu State Audit Department.

The structural arrangement was made to accommodate the size and complexity for audit work, which increases enormously with a corresponding effect on the operation of public offices.

These complexities resulted to the inadequate examination and verifications of the books and records in such a way as to uphold a true and fair view of transactions. This however leads to misappropriations and embezzlement of public funds. Sometimes even, defalcation occur. All these occur because there wasn’t effective control of book of accounts and the assets to the business.

In short, all these factors motivated the researcher to try into facts of and rudiment of auditing and explores the impact of auditing and the use of auditing as means of avoiding these anomalies. So auditing should be carried out in all public organisation if actually the yield by these organisation would be satisfactory.

Odo William C.

 

Table of contents                                                               X

 

CHAPTER ONE

Introduction

• Historical background of the study 6
• Statement of problem 7
• Objectives of the study 10
• Research questions 11
• Research hypothesis 13
• Significance of the study 14
• Scope, limitation and delimitations 17
• Definition of some technical terms 18

CHAPTER TWO

Review of related literature

• Auditing and accountability defined 22
• Historical origin and development of auditing 34
• The meaning of public and civil service 40
• Short note on public accountability 41
• Government accounting procedures 43
• The rate of internal audit department in public service50
• Statutory position, power and functions of he auditor general 54
• Audit report 59

 

CHAPTER THREE

Research design and methodology

• Introduction 64
• The research questions and hypothesis 64
• Research design 66
• Data analysis techniques 70
• Sample population 71
• Sample test applied 72
• Pilot study 74
• Questionnaire applied 74
• Limitations of the methodology 76

 

CHAPTER FOUR

          Presentation, analysis and interpretation of data

• Introduction 78
• Presentation of data 79

 

CHAPTER FIVE

          Findings, recommendation and conclusion

• Summary of research findings 84
• General examination of the problems of the auditors in the performance of their duties 86
• Conclusion 90
• Recommendations 91

Appendix 1                                                              98

Appendix 2                                                              99

BIBLIOGRAPHY                                                             102

 

 

CHAPTER ONE

INTRODUCTION

The question of how to increase efficiency and positive result in audit work in the public sector is a perennial problem in Nigeria, and one that is increasingly warring the generality of he people of this country.

The response has been to upgrade the quality of audit staff and widening of he powers conferred on audit institutions in the public sector. The need for the training of audit staff in modern techniques of auditing which is more effective and result oriented rather than restricting them to the traditional methods of ‘trick and turnover’ which is inadequate and outdated.

Public sector auditing is centered towards ensuring the proper and efficient use of public funds, development of sound financial management, the orderly executive administrative activities and the communication of information to the public through the publication of objective reports since these are necessary for the stability and development of the nation, there is the need to map out the machineries and methods of carrying out a research these functions effectively as to achieve a desired result.

In the past, the emphasis of an audit was on the traditional methods of auditing which has been mainly the compliance audit, seeing that all books and records comply with the laid down procedures and regulation. But now, there is the need for a shift of emphasis to modern concept of effectiveness and efficiency.

Based on these individual views of auditing and its functions, the researcher took a keen inherent to rest empirically auditing as an aid to accountability with to the Enugu state post primary school management board (PPMB).

The increasing incidence of fraud and misappropriation of public fund and property by the accounting officers and chit executives in the Enugu state post primary school management board posses a question as to whether auditing plays any role towards ensuring proper accountability in the state public service.

Auditing is ment to control, deter and find out any fraud or misappropriation of public fund or property by officers entrusted with such duties. It is because of this onerous task that the Enugu state audit department was established to appraise the work of those entrusted with the responsibility of accountability.

Government undertakes various transactions through its representatives or agencies and as such, they are required by law to give account of their stewardship. To achieve these purpose, the constitution of the federal republic of Nigeria provides a law established audit departments both at the federal and state levels section 125(1) of the 1999 constitution provides that there shall be an audit general for each state of the federation who shall be appointed in accordance with the provision of section 126 of this constitution. The sub-section (2) of this section provides that the public accounts o a state and all offices, ministries, parastatals and the courts of the state shall be audited by the auditor – general for the state who shall submit his reports to the House of Assembly of the state concerned, and for that purpose the auditor –general or any person authorized by him in that behalf shall have access to all the books, records, returns and other documents relating to those account.

The sub-section (3) of this constitution also states that nothing sub-section (2) of this constitution shall be constrained as authorizing the auditing – general to audit the accounts of or appoint auditor for government statutory corporations, commissions authorities, agencies, including all persons and bodies established by law but the auditor – general shall, (a) provide such bodies with

1. A list of auditors qualified to be appointed by them as external auditors, and from which the bodies shall appoint their external auditors and
2. A guideline on the level of lies to be paid to external auditors and

• Comment on their annual accounts and auditor’s report there on. The sub-section (4) of this section also states that the auditor – general for the state shall have power to conduct periodic checks of all government statutory corporations, commission, authorities, agencies, including all persons and bodies established by a law of the House of Assembly of the state.

Inspite of all these provisions and safeguards. One still hears or reads every now and them of the alarming rate of fraud and misappropriation of public funds and properties by those entrusted with their safeguards. In view of the foregoing, this study is aimed at appraising the functions of the Enugu state audit department, problems affecting its efficiencies performance and possible suggestion to enhance its effectiveness.

The researcher aims to examine the major cause of fraud or misappropriation of public funds in the state public service and offer usefu

BANKING LENDING POLICIES AND RECOVERY PROCEDURE IN NIGERIA

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

CHAPTER ONE

 

INTRODUCTION

A bank could be described as a major financial institute; other such institutions include fiancé house, insurance companies, mortgage companies etc. The main function of those financial institutions is to provide financial support to those who are in need. Apart from this function, counseling, acceptance of deposits, provision of loans and advances and also providing safekeeping place for people valuables. Many banks play intermediary roles in the financial sector of the economy which focus primarily on the following

1. Moderation of the rate of inflation
2. Reduction of pressures on the external sector so as to achieve a sustainable balance of payment position.

• Establishing the naira exchange rate in Nigeria.

Banks could be classified into the following categories.

1. Central Banks
2. Commercial banks
3. Merchant banks
4. Development banks
5. Community banks

Obviously with an observers first contact with a developing economy, all these categories of banks play important roles in stimulating the economy. They deal with members of the public. Firstly, they all provide first information and investment advice to willing customers to spread banking services to the grass-root  considering the fact that a greater percentage of the country’s population reside in the rural areas.

Development banks by implication tend to carry out their functions effectively because they diversify into specialized areas such as Agricultural and Industry. An example is the Nigeria Agricultural and commercial bank (NACB) and Nigeria Industry Development Bank (NIDB). Hence the development of the economy is stimulated through these agency functions.

In order to achieve their set out objectives all these banks rely on certain instruments and policies which include reserve requirements, stabilization of securities, interest rate policy (lending policy) exchange rate and foreign exchange management. Discount rate policy among others which in Nigeria a developing country are put in place and over seen by the government owed central bank.

Lending has over the years become one of the most important functions in banking operations.  It provides money for investments which in turn yields turnover and increases the liquidity in circulation, due to this direct effect, it has on the economy and business development, it is being pursed in many developing countries where banks and their lending activities have been usefully integrated into government policy formulation in the national economic development process.  In Nigeria for example, where majority of the population live in object poverty, funds are very difficult to come by either for investment purposes or otherwise.

Thus, the federal government finds it necessary and critical to interview in the formulation of bank lending policies.

Lending is giving something to someone else for use over a short period of time (in this case money with interest where being paid bank).

In the objective of lending activity, the banks in the country have come up with policy guidelines which basically provides the frame-work for dealing with loans and advances.  Some of these policies are designed to have relevance to the interval constraints of each bank for instance, sector performance, deposit base, risks existing exposure while others are derwed mainly from the guidelines issued periodically by the central banks for control reasons and known as monetary and credit policy guidelines for each fiscal year.  A lending policy if properly articulated could provide a guide for safe.  Sound and profitable banking activities.  If on the other hand, the lending policy is not properly formulated, it could lead to the banks liquidation.

Irrespective of the amount of liquidity available in a bank, it may find it practically impossible to satisfy all the requests it lies for loans since the requests may outstrip available resources.  The bank thus has to discriminate in its decision to lend.  Such actions must however be based on objectives funds available for loans must be judiciously applied strictly along the banks policy guidelines.  When the policy has been formulated, lending procedures evolves as check towards ensuring that the objectives it realized.

Lending procedures which acts as checks towards making sure that the objectives of the policy guidelines are achieved includes.

• How loan are to be processed
• What documents are required
• Necessary securities
• Where various documents should be sent
• Recommendation to be forward etc

Like any other operational procedures, these should not be breached in any way otherwise it could cause doubtful debts etc.  Due to improper lending, most banks make

CONTRIBUTION OF BUSINESS SUPPORT SYSTEM TO ENTREPRENEURIAL DEVELOPMENT (A CASE STUDY OF INDUSTRIAL DEVELOPMENT CENTRE, ENUGU)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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ABSTRACT

          Contribution of Business support system in entrepreneurial has highlighted its contribution of business support of small scale business and has helped to trance productivity, increase self reliance and employment opportunities.

Support systems like, the Central Bank of Nigeria (CBN), Nigeria bank for commerce and industry (NBC) National Directorate of Employment (NDE), National Economic Reconstruction Fund (NERFUND), Industrial Development Centre (IDC).

These support system and organisation has realty helped in improving the small scale business and has helped to develop entrepreneurial development. In analyzing the research work properly, the researcher analyzed the research chapter by chapter.

Chapter one is all about the introduction of the research of which states the background of the study, significance of study, the scope and limitations of the study and all other organisation and Definition of terms, the researcher used in the research.

Chapter two of this research is reviewing the related literature  of the work that is enhancing the entrepreneurial developments in the country. The relevant of the small businesses to the Nigeria economy, its contributions to entrepreneurial.

Chapter three, of the research is all about the design and methodology of the research that is the design area of the study, population, sampling and sampling procedure, types of data used, location of data, research instruments, procedure of dta gathering, method of data analysis.

Chapter four of the research is about presentation and analysis of data that is how to present the data and analyse all the data collected.

Chapter five, which is the final chapter is about the summary of the researcher findings, recommendation and conclusion of the research works and finally references that was used.

 

TABLE OF CONTENTS

Title Page                                                                           II

Approval page                                                                   III

Dedication                                                                         IV

Acknowledgement                                                             V

Abstract                                                                             VII

Table of contents                                                               IX

 

CHAPTER ONE

Introduction                                                             1

• Background of the study 1
• Statement of the study 4
• Purpose of study 5
• Significance of study 5
• Scope and limitation of study 5
• Research questions 7
• Organisation of study 7
• Definition of terms 8

CHAPTER TWO

Review of related literature

• Preamble 10
• Review of definitions 11
• The relevance of small scale business to the Nigeria 16
• Credit schemes for small scale industries 24
• Problems of small scale businesses 33
• The contribution of business agencies in sourcing for entrepreneurial                                                   39
• Support systems and entrepreneurial development 43
• Industrial development centre (IDC) and entrepreneurial development 54
• The types of support given to (IDC) industrial

development centre                                                            56

• Entrepreneurial development in Enugu state 60

 

 

 

CHAPTER THREE 

Design and methodology

• Research design 63
• Area of study 65
• Population 65
• Sample an sampling procedure 65
• Types of data used 66
• Location of data 67
• Research instrument 67
• Procedure for data gathering 68
• Method of data analysis 68

 

CHAPTER FOUR

Presentation and data analysis

• General information 71
• Presentation and analysis of data 72

 

 

CHAPTER FIVE

Summary of findings, recommendations and conclusion.

• Summary of findings 88
• Recommendations 89
• Conclusion 92
• Suggestion for further research 93

BIBLIOGRAPHY                                                             94

Questionnaire                                                          97

 

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

The goal or desire of any nation is to achieve its economic growth and development. For the Nigeria government, employment provision for all and reasonable development of all localities are certainly not feasible within the limited government structures and establishment. The federal government therefore considers the active participation of the private sector especially at the grass root as the most viable means of achieving the development and job provisions. Hence, in its second and third national development plan, the federal government adopted the policy of giving active support to the promotion and development of small and medium enterprises on the country.

However, are would want to know what entrepreneurial development is all about. According to some writers, especially in the written work of H. O. Amaechina “entrepreneurship concept of small business management”, entrepreneur. So defined as the willingness and ability of an individual to seek out investment opportunities, establish and run the enterprise successfully. Thus entrepreneurship is associated with different kinds of activities that has to do with the establishment and operation of business enterprises. Such activities may include;

1. Identification of investment opportunities.
2. Deciding what opportunities to exploit for profit.

• Promotion and establishment of the business enterprises.

1. Pooling of the various scarce resources needed for production and distribution of good and services.
2. Organisation and management of the human and material resources for the attainment of the objectives of the enterprise, risk bearing and innovation.

On the other hand, entrepreneurial development can be described as the varied programme, and incentives provided by governments and non-governmental agencies aimed at training, promoting and encouraging entrepreneurs toward the attainment of maximum economic returns in any business ventures they embark on.

The importance of entrepreneurial development in the economy aids entrepreneurs to identify a profitability business and how to go about it. It makes the entrepreneur to be aware of how to locate a business. it creates awareness on the area of location and if it can affect their business. Infact, entrepreneurial development helps to avoid business failures.

The small business supports system such as National Directorate of Employment (NDE), Nigeria Bank for Commerce and Industry (NBCI), National Economic Reconstruction Fund (NERFUND), and industrial Development Centre (IDC) are all set up to aid small scale business in the areas of finding development of managerial and technical skills.

Industrial Development Center as one of the small business support systems is set to provide technical services such as;

• Technical advice and assistance regarding the selection of the right machinery, equipment and raw materials for the purpose of setting up the business.
• Assistance in the installation and operation of the machinery.
• On the job training of the artisans in handling of the machines.
• Giving advice an assistance to small industrialists to improve the design and quality of their products.

There are other managerial services which include:

• Training of proprietors and the supervisory staff of small and medium enterprises in modern management methods and practices.
• Supply of economic information needed by prospective investors for making investment decisions.
• Financial counseling
• Organizing seminars and workshops.
• Supply of industrial information
• Feasibility studies and market surveys.

To what extent has this organisation (IDC) achieved these objectives in the support of small scale business is the focus of this research.

 

• STATEMENT OF THE PROBLEMS

It is a general assumption that small – scale business is imperative for national growth and development. It has been emphasized that Nigeria is entrepreneurial under-developed.   

 

1.3     PURPOSE OF STUDY