THE IMPACT OF THE PRUDENTIAL GUIDELINES IN THE INSURANCE INDUSTRY

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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

          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.

COMMUNITY BANKING SYSTEM IN NIGERIA: A IMPLICATION ON THE RURAL ECONOMY

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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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ABSTRACT

This work is about inflation in Nigeria, the causes, consequences and how it can be controlled.

For inflation to be effectively controlled and for the economy to be conducive for foreign  investors, and hands must be on seek including the governments, manufactures, e.t.c.

The book is organized around the main causes of inflation in Nigeria, ie, casual factors of the Nigeria inflation and the related theories, which can also lead to inflation.

The first chapter looks at the introduction the statement of the problem the objective the limitation the term the scope and the significance of the study.

The second chapter looks at the definition of inflation the three strain of inflation the imposition of higher taxes, development of agriculture, effective control of ways and prices, the control of prices of essential commodities.

Chapter three focus on Summary of Findings the Conclusion, the Recommendation and Bibliography.

 

TABLE OF CONTENTS

CHAPTER ONE

• Introduction 9
• Statement of the Problem 9
• Objective of the Study 10
• Limitations of the Study 10
• Definition of Terms 11
• Scope of the Study 12
• Significance of the Study 12

 

CHAPTER TWO

• Definition of Inflation 13
• Three Strains of Inflation 14
• Imposition of Higher Taxes 15
• Investment in and Development of Agriculture 15
• Effective Control of ways and Prices 15
• Control of Prices of Essential Commodities 16

 

CHAPTER THREE

• Summary of Finding 17
• Conclusion 17
• Recommendation 17

Bibliography                                                                                          19

 

CHAPTER ONE

1.1     INTRODUCTION

          INFLATION

Considering the high rate at which  prices of goods and services increase in our society today I was moved to pick interest in finding out the causes the consequences, and if possible what should be done to control this social malady called inflation in Nigeria, there are certain ambiguity about the term inflation this because the work indeed has many usages in economic language as there are economists.

In ordinary speech, inflation is taken to mean a period of high price. But high price do not necessarily indicate the existence of inflation. This is because equilibrium of supply  and demand for goods and services can be established at any level of prices and once equilibrium has been achieved inflation  disappears.

 

1.2     STATEMENT OF THE PROBLEM

We are going to the problem of inflation and it will be stated out in order to reduce the raise of inflation in Nigeria.

A number of approaches to the explanation of the phenomenon  of inflation have been suggested and sometime tested in the economic literature thus, such concepts of inflation that have been popularized include “Demand Pull” anticipated inflation.

The cause of inflation at times could be based on the theories of inflation or caused by some factors,

 

AN APPRAISAL OF THE ROLE OF CASH DEPOSIT BANKS IN AGRICULTURAL DEVELOPMENT

(A CASE STUDY OF KEYSTONE BANK KADUNA BRANCH)

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ABSTRACT

The subject of this study is An appraisal of the role of cash deposit banks in Agricultural development the purpose of the study is to review and evaluate the performance of bank PHB particular reference to its function and roles as it relates to the agricultural sector of the Nigerian economy. References were made to preview researchers by various authors, views are thoroughly examined comments are made where necessary. In collection of data various methods were asked such as questionnaire journals, magazine etc the data collection from the agricultural customers of Bank PHB, the management of the bank was analyzed in order to access relation to the problems. This work is designed to solve Agricultural development and training in Nigeria suffered series of neglect since the discovery of oil in Nigeria. Various efforts both by the military and civilian regimes to bring it back to it pre-oil period have not met with adequate result.

 

TABLE OF CONTENTS CHAPTER ONE
1.1 Backgrounds to the study – – – – – – – 1
1.2 Statements of the problems – – – – – – – 2
1.3 Objective of the study – – – – – – – – 3
1.4 Research hypothesis – – – – – – – – 4
1.5 Significant of the study – – – – – – – 4
1.6 Scope of the study – – – – – – – – 5
1.7 Historical background of the case study – – – – – – 6
1,8 Definition of terms – – – – – – – – 7

CHAPTER TWO: Literature review
2.1 Introduction – – – – – – – – – 9
2.2 Brief history of commercial banking in Nigeria – – – – – 10
2.3 Banking decree of 1967 – – – – – – – 11
2.4 Brief history of commercial banking in relation to agricultural development – – – 11
2.5 Brief history of key stone bank – – – – – – – 12
2.6 Problems encountered by commercial bank in relations to agricultural development- – 14
2.7 Roles of commercial banks in agricultural financing in Nigeria – – – – 16
2.8 Analysis of loan and advances to the agricultural sector by key stone bank- – – 17
2.9 Conclusion – – – – – – – – – – 20

CHAPTER THREE
Research methodology
3.1 Introduction – – – – – – – – – 21
3.2 Area if the study – – – – – – – – 22
3.3 Population and sample size – – – – – – – 23
3.4 Sampling techniques – – – – – – – – 24
3.5 Sources and methods if data collection- – – – – – – 24
3.6 Justification for the choice – – – – – – – 26

CHAPTER FOUR
Data presentation and analysis
4.0 Introduction – – – – – – – – – 27
4.1 Data presentation – – – – – – – – 27
4.2 Data presentation and interpretation – – – – – – 28
4.3 Testing of hypothesis – – – – – – – – 34
4.4 summary of findings – – – – – – – – 37

CHAPTER FIVE
Summary Conclusion and Recommendation
5.0 Introduction – – – – – – – – – 38
5.1 Summary – – – – – – – – – 38
5.2 Conclusion – – – – – – – – – 39
5.3 Limitation of the study – – – – – – – – 40
5.4 Limitation of the study – – – – – – – – 42
5.4 Recommendation – – – – – – – – – 53
Bibliography- – – – – – – – – – 45
Appendix – – – – – – – – – 465

 

 

CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
There is no doubt among observers that Nigeria as a country is rich in humans and mineral resources (most of which still remain untapped) having an estimate population of about 140 million people. Prior to the advent of the oil boom in 1973/1974 agriculture was the main source if revenue generation of the country’s economy, for example the famous land groundnut pyramids, cotton processing machines both in the northern part and cocoa in the southern part of Nigeria. Infact history will go down to let us know the basic fact that during this era Nigeria was resident in product and as the main source of internal trade, Nigeria use to export the surplus to other desirous nations of the world, it was through this sources that Nigeria was able to finance the cost of oil extract with the advent of oil the oil sector eventually emerged as nations main foreign exchange earners amounting to over 90% of other country’s foreign exchange and about 89% of the total revenue to the government. Realizing this dangerous phenomena, the government under took intensive campaign in order to enlighten the citizen, the importance of self reliance especially in food production, local musicians chiefs and emirs were not left behind, hence the introduction of festivals at the end of the deserving farmers.

 

1.2 STATEMENT OF THE PROBLEMS
Agricultural development and financing In Nigeria suffered severe neglect since the discovery of oil in Nigeria, various effort by both the military and civilian regime to being it to its pre oil period have not meet with adequate results the problem of agricultural was compounded as a result of farmer lacking adequate and easy access to credit facilities to help in the development and financing of the agricultural sector of the economy.

1. Farmer do not have collateral to accept the loan with which to be granted by the bank, these stand as an obstacle obstructing the ability of the farmer to get the loan from bank.
2. Government have no support to the farmer on the need to produce cash crops production that will help boost this sector of the economy.
3. Most farmers in Nigeria have not really knowledge about modern agriculture that would enable them have much out put from the farms.
4. Farmers find it very difficult to comply with the demand of the bank due to the high rate of interest on the loan granted to them.

 

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EVALUATION OF LIQUIDITY ASSETS MANAGEMENT IN FIRST BANK OF NIGERIA PLC

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ABSTRACT
The language of business is money, and money is the business of financial institutions. No business be it large, medium or small – scale can survive without finance, therefore. Financial institutions should try as much as possible to develop their credit policies, as they are the target sources of finance available to the small – scale enterprises. For many years the importance of small scale industries Vis – a- vis their role in the economic development of Nigeria can never be overemphasized, so their need for long – term finance increase. Inspite of the government’s effort in assisting the development and strength of small-scale industries, the assistance given by the financial institution still remains inadequate. The major problem confronting small scale industries is as a matter of fact constitute the second major sector in the Nigeria economy that bears most of the burnt of the existing gap in the Nigeria financial system. It is worth reiterating that one of the objectives of the federal and state government is to achieve socio – economic development of the goal cannot be achieve without the development of rural areas, the growth of small – scale industries in the rural areas serves as one of the main vehicle of transforming the nations and the subsequent enhancement of the socio economic growth of the state. Indeed, it has been noted that, usually in programmes of social and economic developments in the newly industrializing countries, small industries play a vital role. Small – scale industries assist the government in creation of employment opportunities, this reduces surplus labour. This tends to reduce urban influx of employment labour. This sector has facilitated rapid expansion and diversification in the industrial sector of the Nigeria economy. The sector is diversified in that not only large industries are relied upon but also small business and that the large industries fail. The small ones could be made to produce and render the service required. It is worth nothing that though these small-scale enterprises are small in nature, they have a definite function to place in our economy. For the supply of raw materials and other inputs to the large industries, small and medium enterprises all need to be unturned in the hope that they can grow into large enterprises as new ones rise up to replace them and the old ones continued in the process of economic growth and development. For an objective analysis, interview and questionnaire have been used as research instruments. The interviews were administered to some selected small – scale industrialists. On the analysis it was found out that the role of financial institution to the development of Small – scale industries in Nigeria is inadequate. Consequently, the null hypothesis is accepted. Finally, some useful recommendation as to improving the assistance of financial institutions to small-scale businesses have been advanced.

 

TABLE OF CONTENTS
Title page
Declaration
Approval
Dedication
Acknowledgement
Abstract
Table of contents

CHAPTER I
1.0 Introduction
1.1 Background of the Study
1.2 Statement of the Problems
1.3 Objectives of the study
1.4 Research hypothesis/questions
1.5 Significance of the study
1.6 Scope of the study
1.7 Historical Background of Case Study
1.8 Definition of Terms

CHAPTER II
2.0 Literature review
2.1 Organizational structure of the study
2.2 Historical Development of Nigeria Banking Sectors
2.3 Definition and Classification of Small – scale Industries
2.4 The Functions of Commercial Banks in the
Development of Small – Scale Enterprises in Nigeria
2.5 Types of financing for Small – Scale enterprises
both banking and non banking sectors
2.6 Sources of finance for small – scale enterprises
2.7 Problems of financing in small – scale industries
2.8 Capital market

CHAPTER III
3.0 Research Methodology
3.1 Introduction
3.2 Population and sample size
3.3 Sampling techniques
3.4 Sources and methods of data collection
3.5 Methods of data analysis
3.6 Justification for the choice

CHAPTER IV
4.0 Data Presentation, Analysis and Interpretation
4.1 Introduction
4.2 Data Presentation
4.3 Data Analysis and Interpretation
4.4 Testing of Hypothesis/Questions and Interpretation
4.5 Summary of findings

CHAPTER V
5.0 Summary, Conclusion and Recommendation
5.1 Summary
5.2 Conclusion
5.3 Limitations of the Study
5.4 Recommendation
References/Bibliography
Appendix/Appendices

 

 

CHAPTER ONE
1.0 INTRODUCTION
Banks have been accused of taking two much risk in unexpected new environments and lines of business. The advice being given is for the banks to avoid further in exposure by threatening to move tradition that will understand the activities banks, however are being charged by their shareholders to maximize holder’s wealth overtime. To achieve this goal, banks must search out for opportunity in the financial market and loan to manage risk by implementing more systematic system of risk control. At present it appears appropriate to develop specific management control mechanism for each new risk element.

The system being designed by bankers is in contrast one that allows each new form of risk to a new element in an overall analytic area of banks. This approach requires an informational environment that enables risk managers to analyze all of the risk inherent in a given transaction.

1.1 BACKGROUND OF THE STUDY
The aim of this project writing is to bring out the way in which liquidity asset is managed in Nigeria banks. Most especially first bank Yabubu Gowon Way Kaduna is my case study and the kind of services offered by first banks in the management of liquidity.
The banks engaged in the business of providing adequate service, which are:
i. Universal banking services to corporate bodies
ii. Loans and advances to its customer
iii. Leases.
iv. Investment Banking services
v. Financial Advisory services to corporate bodies
vi. Foreign exchange services.

 

1.2 STATEMENT OF THE PROBLEMS
First bank Nigeria Plc is expected like all other banks to provide quick and efficient services to both customers and interested parties. The banks should know the value of time and try as much as possible to serve its customers in the shortest possible time.

This is because, the customers are the business of the bank and that is why they are regarded as assets of the cast and other valuable things deposited to them by its customers. This why each and every paper in the bank is considered as money because it talks about it. One of the functions of banks is to grant loan to customer, so as to assist them to undertake various projects for the development of economic activities in the country. In this aspect both the customers and the bank have the same aim that is to make profit. In other words, to achieve this aims the bank and customers have to perform their duties for the smooth running of the system. In most cases the two side always make things difficult for one another on the part of the honest and firm so as allow the bank form a good reputation and develop good banker – customer relationship.

On the other hand the banking industry is expected under normal circumstances to bring out its activities not only efficiently but also accurately. But this is almost apposite and has led to in looking at the problems of the customers in the banks, it can be seen that the blame is on both sides. Some of these problems are…

 

 

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THE EFFECTS OF CORPORATE TAX ON THE PROFITABILITY OF BUSINESS ORGANIZATION

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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

Lucidly written and properly organized, this term paper/project work “THE EFFECT OF CORPORATE TAX ON THE PROFITABILITY OF BUSINESS ORGANISATION” affords the public, corporate bodies and individual opportunities to view and understand the importance and benefits of the effects of corporate tax on the profitability on business organization.

The first chapter provides relevant introduction that is the origin of corporate taxation in Nigeria.

However, the second chapter provides practical framework x-raying the effect of tax on company’s profitability, tax avoidance and tax evasion and revenue which government generate from tax.

Lastly, chapter three provides the summary, conclusion and recommendations.

The reader must realize that it is through the tax that Federal Government of Nigeria generate revenue to financing its expenditure and provision of infrastructural facilities and services, knowing fully well that reading it in detail will be greatly helpful to readers.

CHAPTER ONE

 

3.0     INTRODUCTION

This topic “effect of corporate tax on the profitability of business organizations” reveals both the positive and negative ways in which tax payment has affected the profit structure of business organizations.

Meanwhile, it will do us good to briefly discuss the origin of corporate taxation in Nigeria.  The universality of taxation account for its description as a popular way of raising revenue by Turner and Hunt (Okoye 1998:7).  In that light, Benjamin Franklin is quoted to have argued that in this world, nothing certain but death and taxes.  In Nigeria in context, income tax was first introduced in Nigeria in 1904 by Lord Luggard who enacted the first income tax statute when he was the high Commissioner for Northern Nigeria.  The colonial government in Nigeria like in all other colonized government in Nigeria introduced various taxes in Nigeria in order to tap the financial resources for their operations from the people.  In that situation, government taxation want an extension of the network of exploitation of the colonized people.

The post colonial states unavoidably inherited and sustained taxation as one of the government sources of revenue.  The first tax on companies was known as the profit tax.  This important step involves the taxation of companies at different rate from individuals and union corporate business was followed during the second world war by the introduction of a system of capital.

The corporate tax as we know was introduction in 1965 in Britain.  The recent development of this tax is attributed to the fact that until well after the second world war, the corporate form of business was practically non-existing in Nigeria.  Being recent it has therefore not received as much as attention from the populace as personal income tax has.

However, with the growth of the economy, the corporate sectors has expanded considerably, bringing more sharply into focus the problem of taxing corporate income, and at exploiting a potentially source of revenue.

Over one thousand (1000) companies were subjected to company’s income tax.  In 1963, compared with only about three hundred and fifty (350) in 1960.  Now, comparing these figures with the great number of corporate now in existence, presently, we have about three thousand companies, which are subject to company’s income tax.  The manner of taxing corporate incomes has become crucial not only from the point of view of revenue but also from the point of view of stimulating rapid industrialization.  This has answered one of the reasons why the government has so much interest in tax as a source of fund/revenue.  The huge sum which the government generates from the corporate tax has made the government to put up several act/decrees in respect of corporate tax.  In Nigeria, the company tax act was enacted in 1979, several amendments were made to the original ordinance in 1961 when separate laws were enacted for the tax of income and profit of both individuals and companies.

 

• OBJECTIVE OF THE STUDY:

The term paper is aimed at identifying the positive and negative ways in which tax payment has affected the profit structure of