THE EFFECTS OF CREDIT ADMINISTRATION AND CONTROL ON THE DEVELOPMENT OF COOPERATIVE SOCIETIES

 

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CHAPTER ONE

INTRODUCTION

1.1    Background of the Study

This research work focuses on the effects of credit administration and control on the development of cooperative society. Credit administration and control functions as a good instrument that brings about rapid development in the cooperative sector. It can be regarded as the essence of   financial instruction in an economy, therefore the formulation and implementation of sound and solid credit polices and control are among the most crucial responsibilities of the management of an organization.

 

Among the most essential functions of credit cooperative is to provide loans to members and ensure the repayment of the loans given to them, it is therefore important to develop policies that will ensure the security of loans extended to members.

 

Due to lack of credit administration and control, credit facilities made available is spread among members of the cooperative societies and considered more of gift than loans to be paid within a specific period of time and therefore cooperatives find themselves cripple economically.

 

The implementation of credit administration and control is a necessary condition of the society so as to achieve its objectives, to serve the members in an efficient manner and more importantly ensure safety of funds for continuity and development of the society.

 

According to Iyowu (1985) an articulate credit management policy not only seeks to balance profit and liquidity. It expects to   determine whom credit must be granted to how much to be granted, for how long and to ensure successful recovery. The achievement of an efficient credit administration and control entails an elements of a subjective management.

 

This research work will look at the role of credit administration and control, the disbursement of loans and its recovery credit administration and control and how it can be utilized for the development of the cooperative societies.

 

1.2    Statement of The Problem

The primary aim in a cooperative society is to improve the economic and social position of the members by extending credit facilities to them. It can either be short term or long term loans. It is important that credit usage be productive which will enable the borrower to earn enough to repay the principal and the interest and also realize a surplus from the undertaking.

 

Cooperative societies are not making significant impact in the growth and development despite some level of credit administration and control, problems are faced when there are…

 

 

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PRIMARY COOPERATIVE AND MEMBER SOCIO ECONOMIC WELL BEING

 

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CHAPTER ONE

INTRODUCTION

1.1     Background of the Study

In order to get a clear picture of the subject matter it is imperative to defined cooperative. ICA Statement on the cooperative defines cooperative as an autonomous association of persons economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.

 

However, primary cooperative which is the subject matter is defined as a society which has as its object the promotion of the socio-economic interest of its members through a common enterprise managed in accordance with cooperative principles. A primary cooperative society must have at least ten individuals if it is an auxiliary cooperative and six persons if it is a productive or industrial cooperative. Each of these must have qualified for membership (NCSA, 1993).

 

Primary cooperatives are basically established to meet member’s social-economic need. The operations of primary societies permits the people who live in the same locality with the same goals and aspiration to go into synergy in order to actualize such goals collectively (Ijere, 1998).

The prospect of primary cooperative in promoting member’s economic welfare cannot be overemphasis sequel to the economic benefits arising from membership of primary societies: primary cooperatives in this regard pursue mutually beneficial, social and economic interest, provide goods and services to each other and the general public in the most cost effective way, prevent exploitation of the weaker members of the society by bringing them together to help themselves, protect the rights of the people as producers and consumers of goods and services, and promote mutual understanding and peaceful coexistence among the people of the community in which such primary cooperative is located.

 

The economic results of establishing primary societies arise out of the operation of a society that is jointly own through synergy and the gains of such enterprise is distributed in such manner as would avoid one member gaining at the expense of the others. Primary cooperatives have been recognised as a veritable instrument for the promotion of member economic welfare owing to its ability in mobilizing and organising people of the same economic and social aspiration into a common enterprise or primary societies therefore becomes very appropriate and suitable for improving the economic welfare of people through a common and collective enterprise that is people oriented (Okoh, 2003).

The prospect of primary cooperative in promoting members economic welfare cannot be overemphasis sequel to the economic benefits arising from being a member of such society. It is against this background that the researcher deemed the subject matter worthy of investigation.

 

1.2     Statement of the problem

Primary cooperatives have the potentials to boost the economic capacity of its members by mobilizing savings and granting soft loans to it members, providing other services as well as investment opportunities for its members (Okoh, 2003).

 

But inspite of this laudable prospect of primary cooperative in promoting member welfare, membership of primary cooperatives in the area of study is loe and insignificant, as such, doubt is expressed about the prospect of primary cooperative in promoting members welfare in the area understudy. This is so because if indeed primary cooperatives promotes members welfae as opined by (Okoh, 2003) then why is the membership of primary cooperative low and insignificant and their impact vague and obscure in the study area? It is in this light that the subject matter of this research…

 

 

 

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THE IMPACT OF MONETARY POLICY IN CONTROLLING INFLATION IN NIGERIA

 

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ABSTRACT

This extended essay examine the Impact of monetary policy in controlling inflation. The ways of combating inflation identified were through monetary policy open market operation (OMO), moral suation, minimum requirement, interest rate cash reserve requirement (CRR) liquidity ratio etc and fiscal policy approach-taxes, government expenditure and borrowing. The essay however discovers that combating inflation using either the monetary or fiscal policy approach is highly uncertain. The result may vary tremdously according to the level of economic development in a country among other factors.

 

 

TABLE OF CONTENTS

CHAPTER ONE

1.0    Introduction      –       –       –       –       –       –       –       –       1

1.1    Background of the Study   –       –       –       –       –       –       2

1.2    Objectives of the study

1.3    Significance of the study            –       –       –       –       –       6

1.4    Scope of the study –           –       –       –       7

1.5    Limitation

1.6    Definition of terms    –       –       –       –       –       8

 

CHAPTER TWO

Literature review-      –       –       –       –       –       –       –       12

2.0    Introduction

2.1    Review of trend of though  –       –       –       –       14

2.2    Models/Theories or relevant concept

2.3    Current literature

2.4    Monetary policy instrument in curbing inflation

2.5    Summary

CHAPTER THREE

3.0    Introduction

5.1    Summum

5.2    Conclusion

5.3    Recommandations

References        –       –       –       –       –       –       –       –       68

 

 

 

CHAPTER ONE

• INTRODUCTION

Monetary policy entails the government policies aimed at changing the quantity of money or credit condition for example, open market operation or changes in required reserved ration etc. Monetary policies involves changes in the quantity of money held by the public. In our economy, there are two types of money most obviously- the naira bills and coins which you have in your pocket and money. In every economy, after fiscal policy, the next most powerful macro-economic stabilization is monetary policy.

 

In fact Monetary and fiscal policies are expected to work together as complements to achieve one goals of a sound macro economic management that include amongst other domestic price stability external sector viability as well as enhance efficiency in resource allocation, distribution and utilization.

 

Monetary policy is therefore measure designed to regulate and control the volume, cost, availability and direction of money and credit in an economy to achieve some specifically micro-economic objectives. It is one policy that seeks to influence economic activities using the tools available to the central bank i.e. money supply (MS) interest rates and exchange rates. It can also mean the deliberate attempt by the authorities to either control the supply of money or to control interest rates or to ration the amount of credit granted by banks.

 

1.1    HISTORICAL BACKGROUND OF THE STUDY

The history of economic growth shows that, economic transformation started in England in the Late eighteen century and gradually spread to other parts of Europe and North America. Economic transformations did not get to other parts of thee world until in the 1950s when Japan transformed to become one of world’s major industrial giants. This economic transformation has spread far and wide in the recent times but its spread is highly limited in Africa. It is only South Africa that has experienced it so far. This is clearly demonstrated by the World Bank report of (2001) which states that out of the 46 poorest countries in the World, 35 of them are in Africa.

 

Nigeria with it’s vast resources of both human and material nature is not left out of the club of poverty stricken countries. This poverty is illustrated by the recent World bank report (2005), which says that more than 70% of Nigerians are living below poverty line.

 

It is against this background that this study is being undertaken. Poverty can be tackled using both fiscal and monetary policies to help solve this problem and growing poverty, removing the country from…

 

 

 

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THE FORMATION/REGISTRATION OF A CO-OPERATIVE SOCIETIES IN ENUGU STATE
(A CASE STUDY OF THE PROCEDURE INVOLVED IN REGISTERING A CO-OPERATIVE SOCIETIES IN ENUGU STATE)

 

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ABSTRACT

This research project is a very crucial study for the formation of co-operative societies in Enugu metropolis. From the history of co-operative it’s all about people working together or working mutually.

The project will stress about the need for the formation of co-operative society and also how co-operative societies are being registered in Enugu state. The steps that must be taken in the formation of co-operative societies, the conditions for registration and also the Economic advantages of registration will be highlighted in the research objective.

To solve the research problem both primary and secondary data were collected. Related publications were also reviewed for ideas which might make a contribution to the design of the project. The research instrument that was used in collecting data were questionnaires and oral interview with the respondents which comprised of the staff of Enugu state co-operative located at Opara Avenue and some of the members of registered co-operative societies in Enugu state.

In organizing and interpreting the data collected, table frequencies and percentages were used. The various research questions were answered by using simple tabulation of data at the end of this research.

This project work has the following objectives – to find out:
1. The level of participation and acceptability of members in the co-operative society.
2. The size of membership both in the primary and secondary level.
3. The steps that are involved in forming of a co-operative society.

Finally, also adequate recommendation has been made in order to help both the co-operative society in Enugu metropolis and also the members of the public on the importance of joining the co-operative societies.

 

TABLE OF CONTENTS

CHAPTER ONE
1.0 INTRODUCTION
1.1 GENERAL BACKGROUND OF THE STUDY
1.2 STATEMENT OF THE PROBLEM
1.3 OBJECTIVE OF THE STUDY
1.4 SIGNIFICANCE OF THE STUDY
1.5 RESEARCH QUESTIONS
1.6 SCOPE /LIMITATION OF STUDY
CHAPTER TWO
LITERATURE REVIEW
2.0 DEVELOPMENT OF CO-OPERATIVES IN NIGERIA
2.1 HISTORICAL BACKGROUND AND ORIGIN
2.2 CONDITIONS FOR REGISTRATION
2.3 THE PROCEDURE INVOLVED IN REGISTERING A CO-OPERATIVE SOCIETY IN ENUGU STATE.
2.4 DOCUMENTS NECESSARY FOR REGISTRATION
2.5 MEANING AND OBJECTIVE OF CO-OPERATIVE
2.6 FACTORS WHICH INFLUENCE THE ESTABLISHMENT/FORMATION OF CO-OPERATIVE
2.7 TEN STEPS INVOLED IN FORMATION AND REGISTRATION OF VIABLE CO-OPERATIVE SOCIETY.

CHAPTER THREE
RESEARCH METHODOLOGY
POPULATION OF STUDY
SOURCES OF DATA
RESEARCH INSTRUMENT USED
QUESTIONNAIRE ADMINISTRATION
METHOD OF DATA TREATMENT AND ANALYSIS

CHAPTER FOUR
4.0 DATA PRESENTATION, ANALYSIS AND INTERPRETATION.
4.1 INTRODUCTION
4.2 ANALYSIS OF DATA FROM MEMBER’S QUESTIONNAIRE

CHAPTER FIVE
SUMMARY OF FINDINGS, RECOMMENDATIONS AND CONCLUSION.

CHAPTER ONE

INTRODUCTION

1.1 GENERAL BACKGROUND OF THE STUDY
The word co-operative is all about people working together or working mutually. The co-operative has been defined by different schools of thought but the variation lies in the degree of emphasis on one aspect or the other.

One school of thought describes co-operative as business undertaking owned and operated by voluntary associations in order to provide themselves with work and wages or with goods and services. But International Co-operative alliance (I.C.A) definition of co-operative states that it is an “Autonomous association of Persons, united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.”

During the colonial days the seed of co-operation was sown but it could only grow slowly. At this point co-operatives were restricted to serve only the interest of the paymaster. Co-operatives then were not allowed to grow or expand to the hinterlands.

Ever before the coming of the white men to Nigeria, Nigeria has been practicing co-operation in various aspect of their lives. In Igbo land for instance, communities co-operated to put up buildings for their members through communal efforts. Tillage, planting and harvesting of crops were also undertaken. They existed a system of credit co-operation known as “ISUSU” by which members of a community banned themselves into a union for the purpose of raising found for their members.

In Nigeria, the first hint on co-operative emergence occurred during the first world war. This co-operative which happen to be a consumer was modeled along the Rochdale of England – home of the colonialist. This earliest co-operative society existed to ration out consumer goods – which was very scarce during the world war, soon after the war ended the consumer co-operative died a natural death.

There after in 1926, the then colonial Agricultural ministry began organizing cocoa farmers around Abeokuta and Ibadan.
The colonial masters appointed Mr. F.C. Strickland to go and understudy the success story of cocoa marketing co-operative of the western region with a view to enacting co-operative law for three months – Dec. 1933 to March 1934. In his report, Mr. Strickland strongly recommended the introduction of co-operative into Nigeria in his report which he submitted in April 1934.

Till date in line with the above understanding, Mr. E.F.G. Haig was appointed as a registrar of Co-operatives in Nigeria to be able to undertake these responsibilities, he was sent abroad to under study the Indian Co-operative movement and law.

Here we are today to study the procedure that is involved in registering of Co-operative societies. After the political landscape of Nigeria changed in 1951 every nation under Nigeria was allowed to develop under regions. So co-operative went the same way viz West, East and North.
(Obodoechi Osita 2002).

1.2 STATEMENT OF PROBLEM
There have been instances in the history of human society where individuals have come together to achieve certain aim in co-operation with others. The I.C.A definition of co-operative society states that is an “Autonomous association of persons united voluntarily to meet their common Economic social and cultural needs and aspiration through a jointly owned and democratically controlled enterprise.

The aim of co-operative society is to bring people together with the intention to satisfy and fulfill their economic and social needs and aspiration which cannot
Be achieved by individual action. It has been observed that

UNEMPLOYMENT AND CO-OPERATIVE SOCIETIES

A CASE STUDY OF ENUGU EAST LOCAL GOVERNMENT AREA

 

 

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ABSTRACT

 

In reality, during the course of research report, there are some obvious points when remembered do help to understand what the project work is all about.

 

First  of all, a critical look is taken to know and find the invaluable role of National Directorate of  Employment in combating the danger of unemployment as specified in its four programmes  such as National Youth Emloyment and Vocational Skill Development Programmes, Agricultural sector Employment and Special public work programme.  Federal Government agencies contributions cannot be left mentioned such as NAPEP, ITF,  etc.

 

In a similar way, the practical solution towards solving the scourge of incessant unemployment and under employment since and after the discovery of crude oil in Nigeria and alternative solutions of not depending wholly on oil such as second-tier foreign Exchange Market.  It only promote diversified economy as a way of reducing unemployment problems which have eaten deep the fabric of our economy.

 

Meanwhile, the design and methodology adopted is clearly explained.  For instance, the population and sample size used, the use of primary and secondary data and the method of analysis, to mention but a few.

 

On the other hand, the descriptive statistical tool used is percentage and tabulation method and analysis adopted makes the research to be understandable and dependable.  In fact, the presentation and analysis of data is an eloquent testimony of practicable work.

 

Then, federal Government and non-governmental organization should join hands together to ensure that the compounding problems of unemployment in co-operative societies should be squarely tackled.  Entrepreneurial training and development should be incurred in all our educational curriculum, right from the primary to the tertiary institutions, to discourage the over dependent of government paid employment but rather become innovative and creative.

 

 

TABLE OF CONTENTS

CHAPTER ONE

1.0     INTRODUCTION

• BACKGROUND OF THE STUDY
• STATEMENT OF THE PROBLEM
• PURPOSE OF THE STUDY
• SCOPE OF THE STUDY
• SIGNIFICANCE OF THE STUDY
• RESEARCH QUESTIONS
• LIMITATIONS OF THE STUDY

REFERENCES

 

CHAPTER TWO

• REVIEW OF RELATED LITERATURE

2.1    THE  DEFINITION AND SCOPE OF UNEMPLOYMENT

• TYPES AND CAUSES OF UNEMPLOYMENT
• THE IMPACT OF ECONOMIC SECTOR ON UNEMPLOYMENT

REFERENCES

 

CHAPTER THREE

• RESEARCH DESIGN AND METHODOLOGY

3.1   RESEARCH DESIGN

• AREA OF THE STUDY
• POPULATION OF THE STUDY
• SAMPLE AND SAMPLING PROCEDURE
• METHOD OF DATA COLLECTION
• METHOD OF DATA ANALYSIS

REFERENCES

CHAPTER FOUR

• DATA PRESENTATION AND ANALYSIS
• TESTIING OF RESEARCH QUESTIONS

REFERENCES

 

CHAPTER FIVE

5.0     DISCUSSIONS, RECOMMENDATIONS AND CONCLUSION

5.1     DISCUSSION OF RESULTS

• RECOMMENDATION
• CONCLUSIONS

REFERENCES

BIBLIOGRAPHY

 

 

 

CHAPTER ONE

 

INTRODUCTION

• BACKGROUND OF THE STUDY

There are some vital issues that we have not failed to know and understand about the topic under discussion.  First and foremost, we have succeeded in bringing into cognizance  that one of the support agencies which its role deals squarely on unemployment and underemployment in Nigeria  is National Directorate of Employment (NDE).  It was established by the Federal Government in November, 1986 which is solely dealing with the menace of mass unemployment in the country as it was stated in its four core programmes and it was inaugurated on 30^th of January, 1987.

 

On the other hand, the co-operative societies  are not exempted, in so far that the both are promoting the creation of employment opportunities for co-operators.  Co-operative itself cuts across every facet of social, political and economic aspects.   For instance, Nigeria Agricultural and Co-operative Bank (NACB) which was constituted in 1973 by the federal Government with an initial capital of twelve million naira (N12m).  In this direction of co-operative societies in the agricultural sector with the provision of credit facilities.

 

In furtherance, National Directorate of Employment has the following cardinal objectives to achieve especially in generating employment.  Ensuring that co-operators or job seekers become entrepreneurial oriented and pay less attention on government paid employment and thus reducing drastically the high level of unemployment.

 

Before we round off, the federal government has been making concerted effort to mass unemployment.  Currently, Olusegun Obasanjo’s regime is tackling this through  National Poverty Eradication Programme (NAPEP) as far back as 1999 till date (2005).  All is to stamp out unemployment.

 

Recently, the National Directorate of Employment announced and outlined various training programmes and thousands of job to be provided for the unemployed Nigerians at the middle of August, 2005.

 

• STATEMENT OF THE PROBLEM

More often than not, lack of employment has given rise to all kinds of set back, problem in all sectors of our economy.  In fat, the high rate of unemployment and under employment has completely raged the socio-economic well – being of our nation, thereby, causing untold hardship, depression, frustration and forceful massive exodus of our teeming brethrens who are seeking for greener pastures abroad.

In other words, the fact remains that the high rate of…

 

 

 

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