AN ASSESSMENT OF BANK DEPOSITS AND THEIR IMPACT ON LENDING POLICY
(A Case Study of Intercontinental Bank Plc, Kaduna)

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ABSTRACT

This research work was undertaken to assess the bank deposits and their impact on lending policies. This work was intended to achieve the following objectives: to apprise and determine the lending procedure of banks, to highlight the extent to which improper project evaluation influence bad debts of money. Deposit banks. Relevant data were collected from both primary and secondary sources. Questionnaire was the main primary data collected instrument employed while data from various relevant publications constituted the source secondary data. Upon the analysis of data, the following conclusion were drawn; that sound lending requires a clear-well articulated and easy accessible policy documents which spells out the philosophy of lending. On the basis of the above findings, it was recommended that banks should ensure that loans given out to customers should be backed-up with adequate collateral security. Finally, it is the opinion of the researcher that the management of bank deposit should prevent the incidence of bad debts in Nigerian banks.

 

CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY

In a modern economic, there is distinction between the surplus economic units and consequently a separation of the savings investment mechanism. This has necessitated the existence of financial institution whose jobs include the transfer of funds from savers to investors. One of institution is the money deposits banks, the intermediating roles of the money deposit banks places them in a position of “trustees” of the saving of the widely dispersed surplus economic units as well as the determinant of the rate and sharp of the economic development. The techniques employed by bankers in this intermediary function should provide them with perfect knowledge of the outcome of lending such that funds will be allocated to investment in which probability of full payment is certain. However, in practice no such tool can be found in the decision of lending bankers. Virtually all lending decisions are made under creditors uncertain the risk and uncertainty associated with lending decision situation are so great that the concepts of risk and risk analysis need to be employed by lending bankers in order to facilitate sound decision making and judgment.

This statement implies that if risks are to be objective assessed, lending decisions by the money deposit banks should be based less on quantitative data and more on principles tool subjective to provide sound and unbiased judgment. Furthermore, the banks depend heavily on historical information as a basis for decision making.

Apparently aware of the inadequacies of his decisions base, the lending banker has often sought solace in tangible and marketable assets as security giving the impression that lending against such securities is an insurance against bad debts. This makes the banker complacent with his loan port folio. The increasing trend of provision for bad and doubtful debts in most money deposit banks is a major source of concern not only to management but also to the shareholders who are be coming more ware of the dangers posed by these debts. Bad debts destroy part of the earning assets of banks such as loans and advances which have been described as the main source of earning and also determines the liquidity and solvency which generates two major problems, that is liquidity and profitability, has to earn sufficient income to meet its operating costs and to have adequate return on it’s investment.

Lending has becoming a vital function in banking operation in view of its direct effect on the economic growth and development in the business sectors. Thus as far as banks are concerned, their activities are lending are as important as their deposit taking, considering the inter-relationship between lending and deposit taking.

Although lending is risky, commercial banks profit oriented organization having a primary objective or profit maximization cannot do without lending out money. In most cases, they generate the highest proportion of their interest on lending. More so, the principal objective of lending of a bank is the provision of growth profitability and liquidity within the economy.

Commercial banks play an important role in the pass-through of monetary interest rates. Nevertheless, the efficiency of transmission of decisions of central bank is a complicated process and may depend on many factors such as: level of competition in financial industry, perception of credit risk (risk prenina) risk aversion, availability of close substitute for loans etc. moreover, banks may influence the external fiancé premium not only via the interest rate but also modifying the available maturity of loans or changing collateral requirement. Finally as evidence by broad literature on bank lending channel, credit rationing and uncertainty about credit worthiness of borrowers may markedly influence banks risk taking thereby influencing their willingness to tend.

The existence of bank lending channel is condition on two important assumptions. First monetary policy decision impact bank liquidity position. Second, changes in the supply of loans affect borrowers because of constrained access to other sources of financing than bank loans. Tightening of monetary policy usually leads to decrease in the demand of deposit because bank adjust their deposit rates only partially to the change sector to equity investment funds. Shrinking bank’s liabilities forces banks to decrease the supply of loans accordingly.

 

1.2 STATEMENT OF THE PROBLEM
Years after years, banks suffer much from the part of full loan extended which has for one reason or the other proved uncoverable. Banks lose millions of Naira in various bad debts yearly and deposit efforts by bank management committee of chief inspectors and the bankers committee on the other hand, the ware of bad debts in banks is still on alarming proportion. This is gathered from a combination of literature reviews on the topic.
On the other hand, many banks experienced a lot of bad debts when the new government abandoned the project awarded to the contractors by civilian government.

These contractors borrowed to execute the project awarded to them but could not repay the loan, due to government action on revamping the economy. Thereby abandoning the project other experience were during the time of draught or poor rainfall and pest. These however led to low harvest which did not give the farmers enough time to repay their debt.
Again, experience may arise in respect of lapses on the part of the bank credit officers. For instance, there may be excesses over approved facility, unformatted facilities and expired facilities not renewed on time in each of these cases, the customer may easily deny even owing the bank all or part of the amount. Deposit banks have always borne the burden alone, but this may not continue in future as the banks may be unable to take the risk of lending more but when eventually they do, they would seek the best way to come out of the risk with realistic reward which they are dearly failing to achieve at present.

 

 

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AN ASSESSMENT OF THE IMPACT OF INTERNAL AUDIT FUNCTION IN STATE MINISTRIES

(A CASE STUDY OF ENUGU STATE MINISTRIES OF WORKS HOUSING AND EDUCATION)

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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. 

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

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ABATRACT

 

The aim of this research is to asses and evaluate the impact of internal Auditing in ministries and to ascertain the extent to which government finance and properties are accounted for.

The research will be tested in different hypothesis, where the Null hypothesis will be rejected and the alternative hypothesis will be accepted. The method of data collection will be both primary and secondary.

In the course of this research the researcher will encounter some constraints such as financial constraint inadequate material and initial resistance to release information by the staff of the ministries.

This project will be helpful in solving practical problem associated with auditing  especially to students and any other person with little or no practical auditing experience.

In addition some recommendation will be made which if implemented will enhance the advancement of internal auditing organizations.

 

 

TABLE OF CONTENT

CHAPTER ONE

1.1     Introduction                                                                       1-6

1.2     Statement of problem                                                         6-7

1.3 Objective of study                                                                 7-8

1.4     Scope and limitation of study                                            8-9

1.5     Relevance of study                                                            9-10

References                                                                                   10-11

 

 CHAPTER TWO

2.1     Historical background of internal audit in government       12-16

2.2     Objective and audit                                                            16-17

2.3     Advantage of internal Audit                                              17-18

2.4     Internal control and check                                                 18-19

2.5     Qualities of an Auditoe                                                      19-20

2.6     The role of internal audit                                                   20-23

• Qualities control of internal Audit 23-38

REFERENCE

 

CHAPTER THREE

RESEARCH METHODOLOGY                                                 40

3.1      Research design                                                                40

3.2     Sample selection                                                                40

3.3     Sampling technique                                                           41

3.4     Source of data                                                                    41-42

3.5     Questionnaire design                                                         42

3.6     data treatment and method  of analysis                              42

REFERENCE

 

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

4.1     introduction                                                                                 43

4.2     Presentation of data from research  questionnaire              43-39

4.3     Test any prove of hypothesis                                             60-64

 

CHAPTER FIVE

FINDNGS CONCLUSION AND RECOMMENDATION

5.1     Summary of findings                                                         65-66

5.2     Conclusion                                                                        66-68

5.3     Recommendation                                                               68-70

5.4     Suggestions for further studies                                          70-71

Bibliography                                                                                72-73

Appendix                                                                                     74-80

CHAPTER ONE

 

• INTRODUCTION

As government has grown in scope size and complexity so too the need for internal auditing accounting for and controlling government receipts and expenditure has resulted in the need for  a staggering number of government clerks, accountants and auditors.

The need for control over government revenue appropriation and expenditure should not be surprising federal, state and local government is actually the largest industry in the country. However the need for efficient and effective internal auditing system in government ministries and extra- ministerial department can not be over emphasized as the complexity of government  activities is obvious . the  annual budgets by federal state and local government are generally incorporated into governmental accounting system and financial reports, this is not the case in private sector business organization. Thus the annual budgets in conjunction with government financial reports are the primary focus of public sector audits.  Internal auditing is an independent appraisal  function established within an  organization to examine and organization Taylor and Glezen (1979) it is mainly concerned with appraised of government activities for the review of accounting financial and operations  as a  service  to the  management

 

INTERNAL EXTERNAL AUDITOR

A person who undertakes audit function is called an auditor. Internal audit has been described as an independent review of operation and records. Sometime continuous undertake within an organization by especially assigned staff of the organization as basis for long protection and constructive services to management Ubesis (1997).

External auditor is an independent examination of financial statement of an organization an auditor. Other than an employee of an organization but by appointment by the share holders,  like external audit, internal auditing had its role in accent time infect internal and external  audit had essentially the same beginning there was no  distinction between them prior to the nineteenth century “Ricchute (1975). Both group of auditor rely on the same data base. Also the internal user  rely on both internal and external auditors  and external user rely on external auditors. Importantly, external auditors can sometime rely upon an internal auditors work when the internal audit function is strong. As a result an organization internal audit function can have some effect on the scope of independence external auditors extermination. As an independent contractor, the external auditing firm reserves the right to direct and control its own employees, the external auditor is free to use some methods and to expand or duce the kind of works they do. An internal   auditor must be independence of both personnel and operational activities of the organization. Independence is essential to the effectiveness of internal auditing. The independence is obtained primarily through the organization independence is essential to the effectiveness of internal auditing. The organizational status and objectively. Inadequate independence makes internal auditors conclusion and recommendation to be biased.  Although internal and external auditing use the same audit methodology they have different objective when conducting  and it activities. The objective of internal auditor is to assist management concerning activities reviewed in the organization while the external auditors objective is the to express an opinion in the finical statement. Also external auditing  is a societal control which gives external financial information it user internal control serves the organization i.e an organization control which measure and evacuate the effectiveness of the other organization control however, this project in very  much interest in the internal audit function the  government miniseries. It is mainly con cerned with the appraisal of government activities for the review of accounting financial and operations as a service to the management internal auditing is more or less a management internal auditing is more or less a managerial control which function by measuring and evaluating the effectiveness of other activities that is normally done by an employee. The internal audit assures existence of effective internal control in the policies established by the government

 

FUNCTION OF INTERNAL AUDIT

1. Internal audit monitor the economical and efficiency in the use of resource. It appraises the economy.
2. Safeguarding of assets; it should review the means of safeguarding assets also very the existence of such assets.

THE IMPACT OF THE PRUDENTIAL GUIDELINES IN THE INSURANCE INDUSTRY

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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.

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ABSTRACT

          This project work is aimed at giving an insight of what the prudential guidelines on insurance companies hold for the industry in the nearest future.

It is centered on the impact of issued guideline by the various regulatory bodies like the insurance.  Decree of 1976 and 1991 and the establishment of the various bodies like the NISB and others.

It also examine the performance apprisal of the insurance companies with a view of improving revenue profits, identifying the problems faced as a result of this prudential guidelines issued.

Hence the need to finding lasting solution to sanitize the insurance industry to bring about a more better future for its existence.

 

 

 

 

 

TABLE OF CONTENT

CHAPTER ONE

• Introduction 1

1.1     Background of study                                                       2

• Statement of problems 3
• Objective of study 4
• Significance of the study 5
• Scope limitation and delimitation 6
• Research Hypothesis                                                    8
• Definition of terms 9

 

CHAPTER TWO

• Review of Related Literature 13

2.1     Objectives of insurance regulations                              15

• Insurance Decree of 1976 17
• Insurance Decree No 58 of 1991 17
• Insurance Association 18
• Brief History of Insurable interest 27
• Claims settlement 29

 

CHAPTER THREE

• Research Design And Methodology 52

3.1     Data source                                                                     52

 

CHAPTER FOUR

• Presentation and analysis of data 58

4.1     Introduction                                                                      58

• Presentation of Question 58
• Analysis of Data 68

 

CHAPTER FIVE

5.O    Summary of Findings                                                      76

• Decision of Findings 78
• Conclusion 79
• Recommendation 81

 

Bibliography/References                                                83

 

 

 

 

 

 

 

 

CHAPTER ONE

1.0     INTRODUCTION

          Insurance companies deal principally money and property.

According to Brettl. J. the subject matter of insurance is money and money only.  They act as mobilizers of funds from surplus units and channel them to deficit units.

This channeling can be refered to as indemnity.

This can be put in another way, that the primary purpose traditionally of insurance to spread the financial losses of insured members over the whole of the insuring uncertainty by compensating the unfortunate few from the contributions of all members.

Premium changed by the insurance company is its primary sources of manning income, therefore the insurance companies help on premium for its insured or person, financial rights or liability to mention but a few.

However, the financial compensation promised by the insurer is what is called the subject matter of the contract.

Insurance contract is subject to the general Principles of Nigerian Law of Contract as in any other commercial activity.  It these principles that makes for its validity.  Not only does it affect insurance but it operates in every other commercial aspect of life.

 

1.1     BACKGROUND OF STUDY

The role of insurance as one of the major economic activities of a nation has long received would acclamation.  It is not a dispute that insurance has attained a high degree of commercial sophistication.

Insurance business plays a major role in shaping the economic furtunes of the business enterprise institutions and individuals.

The economic profits of any country usually has an impact on both cost and benefits of insurance.  Thus one should consider the examination of the subject of insurance regulation timely in view of current economic climate.

 

1.2     STATEMENT OF PROBLEMS

It has been a concern within the insurance industry on the introduction of the prudential guidelines, as it affects the performance appraisal of the insurance companies.

This research work is geared towards investigating the impact of this guideline as it affects the insurance industry in Nigerian.

In 19

AN ASSESSMENT OF ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENT ON DEPOSIT MONEY BANKS

(A case study of First Bank of Nigeria Plc, Kaduna South Branch)

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ABSTRACT

The purpose of this research work is to have an independence study on the analysis and interpretation of financial statement using first bank of Nigeria plc the rock no sooner than they started. The survival of any firm depend on how we the financial resources are been mange which could determine how well the firm is progress. This study was aimed at enlightening the entrepreneur on the objective and uses of financial ratios as a tool for financial analysis which could also help in investigating some management policy and practices of a company. In order to collect valuable information from this study the choice of questionnaire and oral interview method was used. It though reveal that the importance of ratio in analyzing and interpreting financial statement. The research work thus ended with appreciable recommendation in order to maximize profit and enhance the liquidity of the company as well the efficiency of production that ratio used in analyzing and interpretation of bank financial statement should be major and relevant ones in measuring the financial performance and the bank should capitalize on the advantage of the utilization of financial ratio in order to keep abreast with his business environment.

 

 

CHAPTER ONE
INTRODUCTION

1.0 BACKGROUND OF THE STUDY

According to frank wood and Allan songster (2002) business accounting is concerned with the quantitative expression of economic data? As a discipline it evolve from a need for a frame work of recording, classifying, summarizing, analyzing and communicating economic data.
Financial management is a specialized area of accounting, which is concerned, with the effective and efficient management of financial resources of any organization. The survival of any firm depends on how well the financial resources are being managed.

The interpretation of accounting involves the analysis and criticism of a given set of financial statement with the aim of providing useful information for decision making the principal techniques used in the interpretation of accounting is for calculating important and relevant ratios to an organization, such ratios when computed are most often used for comparism purposes and to know if the organization is sounding well in their performance.

This study is based on first bank of Nigeria plc Kaduna because it is widely believed that the cause of failure of much business organizations both small and large in Nigeria today is as a result of poor financial institution which could give an insight into the challenges facing the business world, the interpretation of the business world, prevalent economic situation of the country and how to manage financial resources effectively and efficiently.

Most business that started newly hit the rock on sooner than they start, not because the product is unprofitable but because of lack of modern techniques of financial management lack of planning and the ability of the entrepreneur to make use of financial management techniques to appraise the performance of the business and make correct forecast about failure.

Therefore, financial analysis is concerned with the key decision function in the firm these include:
a. The planning and allocation of funds for working capital.
b. evaluation of financial alternatives open to the firm and the cost associated with them
c. the strategy of acquisition and mergers and the external growth of the firm.
The assessment of financial management is to provide a basis for assessing the financial implication of decision made in order areas of management, which will be judged according to
i. the firm financial goal
ii. how they affect the overall valuation of the firm
iii. How they affect the overall performance of the firm.

 

1.2 STATEMENT OF PROBLEM
The survival of any firm depends on how well the financial resources are being managed. The firm determines how well the firm may progress. Points could be considered.
1. What role does financial record play in achieving good financial management?
2. In what way does financial ratio help an enterprise in management decision making?
3. What is the important of short and long – term loan or borrowing to an enterprise?
4. What is the major source of income for the organization?

 

 

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AN ASSESSMENT OF ADEQUATE RISK RECOGNITION AND MANAGEMENT IN NIGERIAN INSURANCE COMPANIES

(A case study of Leadway Assurance Company. Plc. Kaduna)

 

 

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ABSTRACT
The assessment of adequate risk recognition and management in Nigerian insurance industry is aim at determining the effectiveness of how the insurance industry handle risk that is being transferred to them and also to assess how insurance companies render their services. The statement of problem include lack of adequate claims settlement procedures which are characterized with bureaucracy and lack of proper fixed or computed premiums which endangers the solvency and profitability of the insurance companies. The researcher finds including, prompt settlement of claims by the insurer encourages high level of patronage from it client and also premium is charged by the insurer according to the type of risk undertaking. Finally, insurers should not just issue policies, they should engage in careful diagnosis of what insurance products their clients deserve. By adequately monitoring the risk covered through professional advice and risk survey.

 

 

CHAPTER ONE
INTRODUCTION
1.0 BACKGROUND OF THE STUDY
Insurance is a security device used by the inured to protect himself against a risk purchased from the insure and the right to be indemnified if the risk should materialize. The purchase price which the insured pays the insurer is known as the premium, often paid on monthly or annually basis and the insurer in return compensate the insured in event of loss.

THE DEVELOPMENT OF INSURANCWE INDUSTRY IN Nigeria begins in 1950 during the colonial era period characterized by a market dominated by Europeans company which virtually held the monopoly of insurance business over the continent of Africa. At that time most Nigerians citizens are not aware of insurance and it importance. After Nigeria independence in 1960 most of the industries managed by the Europeans are been taken over by Nigerians. As they begin to managed those companies, the awareness of insurance and it importance was known.

In the 1980, insurance companies operating in Nigeria begins to grow in numbers and the need to enlighten the citizens on insurance was carried out by some of the employee of those companies. Who went to the street to educate they people on the danger of risk that might occur in many ways, such as fire, theft, accident, rain storms etc. and the responsibility of the insurance is to compensate the unfortunate person who has suffered losses by placing him in the same position as he was before. However, some people agreed to take up an insurance policy but the number of those that patronize the company at that time was very few.

In Nigeria today, most industries and commercial business have insurance cover. This is because insurance ensure the growth and development of all industries and business established and spread all over the country. Apart from business most people don’t insure their houses, cars farms etc. they show reluctant attitude towards taking up insurance policy for such assets and also think it’s a waste of money. Giving great consideration to the above statement, the researcher is compelled to carry out a research on the topic in question an assessment of adequate risk recognition and management in Nigeria insurance companies. In order to re-oriented the people toward changing their attitude and belief about insurance industries.

 

1.1 STATEMENT OF THE PROBLEM
The insurance industry over the years has been going through a lot of problems, which hinders their effectiveness and efficient rendering of services. These include.

– Lack of survey of risk transferred by the insurance companies, as such risk are just assumed without properly scrutinizing the situations and circumstance surrounding such risk.
– Lack of adequate claims settlement procedures which are characterized with bureaucracy.
– Lack of proper fixed and computed premiums which endangers the solvency and profitability of the insurance companies.

 

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