ACCOUNTING AS AN AID TO INTERNAL CONTROL SYSTEM

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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

This research project is on accounting as an aid to internal control system.

The problem study of this research is to find out whether Enugu State Government Accounting records are properly kept according to the provision of the state financial instruction as it concerns the state government. Again to know if there is any loophole in the accounting records as it concerns their internal control.

Any organization wishing to conduct its business in any orderly and efficient manner and to produce a reliable financial accounting information both for himself or others use, needs some control to minimize the effect of endemic human facings. And such control is known as internal control.

Internal control can therefore be define as a system of control, financial and otherwise established by the management of an enterprises in order to carry out the business of such enterprise in an ordinary and efficient manner, to ensure as far as possible the completeness and accuracy of records.

Finally the researcher is faced with problems of summary of all the findings, recommendation based on findings. From this findings accounting has been proved to be the best aid to internal control system. All this endemic human failings such as fraud, missing of files, misappropriation of funds, loop holes, distraction and so on and so forth will minimize where accounting as internal control is followed.

The main objective of this research is to ascertain if the internal control is effective and to analyze ethically the soundness, adequate and application of various internal controls on accounting records. This will also educate the government staff, of various duties expected from them. And also determine the degree of reliance, completeness and accuracy of the accounting records as is contained in the accounting records.

 

TABLE OF CONTENTS

Title page                                                                                     II

Approval page                                                                             III

Dedication                                                                                   IV

Acknowledgement                                                                       V

Abstract                                                                                       VII

Table of contents                                                                         IX

CHAPTER ONE: INTRODUCTION

• General overview                                                             1
• Statement of problem 3
• Objective of study 4
• Significance of the study 5
• Scope and limitation 6
• Definition of terms 7

References                                                                         9

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1 General approach to internal control system                          12

2.2 Local related and foreign related literature                             13

2.3 Objective of internal control system                                       17

2.4 Principle and characteristic of internal control                       19

2.5 Types of control of internal control system                            21

2.6 Internal control and management                                           24

CHAPTER THREE: SUMMARY, RECOMMENDATION AND CONCLUSION

3.1 Summary                                                                               26

3.2 Recommendation                                                                   27

3.3 Conclusion                                                                            30

Bibliography                                                                           32

 

CHAPTER ONE

INTRODUCTION

1.1     GENERAL OVERVIEW

One major problem of management is planning but planning is useless if it is not implemented. And the success of any plan is based on adequate control and monitoring in order to achieve the required objective.

Therefore any organization wishing to conduct it business in an orderly and efficient manner and to produce reliable financial accounting information for its own and other use, needs some controls sot minimize the effect of the inherent limitation?

The researcher is researching on accounting as an aid to internal control system. (Enugu State).

Accounting can be defined as the art of recording and giving result of business transaction to the client. Accounting like any other filed has its origin. Accounting probably came into existence between 14^th to 16^th centuries. As development come in day-by-day the managements of who are not directly involved needed summarizes of transactions so as to enable them understand the positions of the business without the need of going through the books in details.

On the early Greek and Roman account the principle was centered on the need to keep tracks of the assets and they exercise control over those entrusted with property. The primary purpose of accounting is for stewardship. It will be rightly said that the earliest form of accounting reveals the preoccupation with internal control. Internal control is an important tool by which management aim to achieve its objective.

DE PAU L FRM, AND DE PAUL F.C. defined internal control as:

“Practically a continuous internal audit carried on by the staff itself through which individual is independently checked by other member of the staff”.

Internal control system does not make fraud impossible but makes it more difficult thereby giving chance of direction, and act as a valuable moral check. The essence of internal control being therefore to show whereby true ownership is separated from the management, the owners will be in no doubt that their assets and resources are efficiently managed.

Control has to be exercised over all the aspect of business without which the system is likely to be ineffective and too costly to operate in relation to benefit relieved.

1.2     STATEMENT OF PROBLEM

Government accounting system has a way of presenting an accounting for the fund. Foe example, income and expenditure or revenue and expenditure accounts and held by government establishment in government system, officers do not keep the account like profit making organization. There is a lots of lapses in cash office and pay roll section of many government ministries, cases of fraud and missing of office and files containing important documents like bills,

 

EFFECTIVE WORKING CAPITAL MANAGEMENT IN PAINT INDUSTRIES (A CASE STUDY OF MARSHAL PAINT AND CHEMICAL LIMITED ENUGU – ENUGU STATE)

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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

 

CHAPTER ONE

• Introduction 1
• Statement of problem 3
• Objective of the study 5
• Research hypothesis 7
• Assumption of the study 8
• Scope of the study 9
• Significance of the study 9
• Limitations of the study 11
• Historical background of Marshal paints & Chemical company13
• Organisation of the study 15
• Definition of operational terms                                         16

 

CHAPTER TWO

• Review of related literature                                               21

2.1     Meaning of working capital                                               21

2.2     Composition of working capital                                         23

2.3     Factors of affecting the composition of working capital    24

2.4     Current assets                                                                    26

2.5     Current liabilities                                                               28

2.6     Management of working capital                                         29

2.7     Types of working capital                                                             30

2.8     Characteristics of working capital                                      30

2.9     Sources of  working capital                                               31

2.10   Uses of working capital                                                     33

CHAPTER THREE

• Research methodology and procedures 37

3.1     Selection of data                                                                38

3.2     Collection of data                                                               38

3.3     Nature of data analysis                                                       41

 

CHAPTER FOUR

• Data presentation and analysis 45
• Presentation of data 46
• Analysis 47

 

CHAPTER FIVE

5.0     Summary and recommendation                                                   69

5.1     Summary and findings                                                      69

5.2     Recommendations                                                             71

Bibliography                                                                      74

Questionnaire                                                                    77

 

CHAPTER ONE

INTRODUCTION

One of the major objectives of most business organisation is profitability. However, in financial management, it is generally believed that liquidity is more important than profitability. One of the reasons for this is that most organisations make profits, but do not possess enough or adequate liquid asset to off-set current obligations. Inability to make payment as t when due may definitely have serious consequences on the organisation. This situation may give rise to a loss of goodwill and furthermore any result to technical insolvency which may lead the organisation to unintended liquidation.

A second reason is that uncertain inherent in this present days economic/business environment threatens the survival of every business, thus making sound liquidity and cash management a necessity points in corporate planning. This claim is substantiated in the recent times by the fact that the importance of management  of liquid asset has been gradually and systematically gaining prominence and growth in most manufacturing companies or firms. This incidental prominence and growth of liquidity management makes it very apparent that no firm can survive without an effective and efficient management of its liquid resources which is the working capital.

The working capital by all standards is been and regarded as the life –wire of any business organisation it is particularly important in the daily maintenance and running expenses involving cash. For the purpose of this project, the working capital of a firm comprises of the cash balance, marketable short-term securities, inventories and accounts receivables. On the other hand, net working capital is the excess of current assets over current liabilities. Therefore, working capital management refers to the efficient administration of both the current assets and current liabilities.

The rationale of working capital management is on the realization that current asset holding should be increased to the point where marginal returns on increases in such assets are equal to cost of capital required to finance such additions while current liabilities should as much as possible be used instead of long term debt whenever this reduces the average cost of capital. Current assets characteristically constitute more than half the assets of most businesses and the size and relative volatility of these assets make it necessary for such assets to be closely monitored. Thus disproportionate amount of time of the financial controller is devoted to the management of working capital.

Finally, efficient management of working capital is important to both large and small firms, especially during this austere period because if the efficiency of managing working capital is not available, no amount of finance provided will transform a financially weak organisation performance into a strong and dynamic organisation with a remarkable reputation.

 

• STATEMENT OF THE PROBLEM

It has been recognized that one of the greatest problems of this present day firms is the lack of effective and efficient management of the resources at their disposal. This problem is worsened considering the present fiscal policy of banning the importation of some essential raw materials, leaving the manufacturing firms with meager source of locally few produced raw materials.

Decisions effecting liquid assets are influenced by an obvious fact and subjective judgment of most companies. The financial controller of a company my have some of the facts of the cost of borrowing from a bank but these facts are only part of the information that he requires

APPRAISAL OF TECHNIQUES FOR EXPENDITURE CONTROL IN GOVERNMENT OWNED HOSPITALS

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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
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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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THESIS ABSTRACT

 

The researcher has primary examined some of the expenditure control techniques that are and could be applied in government owned hospitals. Noting the obstacles and their rate of effectiveness, emphasis are laid on the techniques already in application.

Data for the research were gathered through interviews, questionnaires and financial regulations. Percentages were used in the data analysis. The following are the research findings.

Budgeting, internal control and audits are commonly used by government owned hospitals in order to curb expenditures, cost  benefits, analysis and management audits that could be applied are not in use.

Variance analysis is the budgeting review technique universally applied for analyzing budgeting estimates. The effectiveness of each of these techniques are hindered by obstacles inherent in the implementation.

Government indicates the goals to be achieved with a given outlay. It is therefore essential to control the expenditure to serve the allowed purposes. Expenditure controls may be positive or negative. Expenditure controls essentially reflect a managerial process that is both political and administrative. The type of expenditure controls employed and their effectiveness are dependent in the external and internal environment of the ministry and the respective hospital.

CHAPTER ONE – INTRODUCTION

• Background of the study
• Statement of the study
• Objective of study
• Significance of study
• Research question
• Scope and limitation
• List of abbreviations
• Definition of terms.

 

 

CHAPTER TWO – REVIEW OF RELATED LITERATURE

2.1 Internal control

2.2 Responsibility for internal control

2.3 Internal control as expenditure control techniques

2.4 Internal auditing

2.5 Internal Audit as an expenditure control technique

2.6 Management Audit.

 

CHAPTER THREE

3.1. Summary of findings

3.2 Recommendation

3.3 Area for further study

Bibliography

References.

CHAPTER ONE

 

1.1     BACKGROUND OF STUDY

In all organization, except possibly the tinnest, there is a process called expenditure or as used in the most commercial organizations , cost control process. Expenditure control has been defined as the process by which managers use effectively and efficiently the scare resources of the enterprises in the accomplishment of the organizational objectives. Most studies of the expenditure control techniques have been done in business organizations and most of the new control techniques applied in not – for – profit public corporations were developed in these organizations. Most description of the management expenditure control processes therefore tend to assume, usually implicitly but sometimes explicitly, that the process of expenditure control is taking place in a business enterprises.

The research report in contrast, is a study of expenditure control in government owned not for profit organization. Its thesis is that the basic control concepts are the same in both profit oriented and non-profit organization but that because of the special characteristics of non-profit organizations, the application of the techniques developed in profit oriented organization are subject to certain modifications before they can be effectively applied especially to the non-profit organizations owed by the government.

Many business persons, as well as many accountants approach not for profit organizations expenditure control with a certain amount of trepidation because of lack of familiarity with such accounting. There is no real reason for this uneasiness because except for the few special characteristics, non-profit organization expenditure control follow many of the same principles followed by commercial enterprises. One of  the special characteristic lies in the reason for their existence. In over simplified terms, it might be said that the ultimate objectives of a commercial organization is to realize net profit for the stockholders. As such the decisions made by their management are intended to increase (or at least maintain) profits, and success is measured to a significant degree by the amount of profit that these organization earn. Were as the ultimate objective of a government owned non-profit organization is to meet some socially desirable need of the community. The primary concern of the government in relation to its not-for-profit organizations is to inquire whether resources are being used in a manner consistent with goals of alocative efficiency and stabilization of the economy. The role that transcends the narrow concerns of the shareholders and arises from the government functions as a protector of the consumers interest. Thus, the decision made by the management of these organizations are intended to result in the best possible service within the available resources and their success is primarily measured by how much service they render and by how well they render it.

 

1.2     STATEMENT OF STUDY

The need for effective management of resource in government owned not-for-profit organizations cannot be over emphasized. This is because while goal attainment is an important index of public service efficiency, the government can no longer pretend that the question of cost is secondary. This has necessitate in government instructing public service organization to “count down costs” as it embarks on its programmes. No wastage of financial resources should therefore, be permitted.

It is therefore essential, that expenses should not be incurred  more than is just necessary. Extensive expansion within limited supply of funds necessitates an optimum utilization of expenditure control system designed in a manner that can allow for maximum utilization from minimum resources. Also available financial resources can only be managed optimally it there exist effective techniques for expenditure control.

This study is thus conducted in order to appraise and review some of the available techniques for control of expenditure opened to government owned non profit organization and its applicability to those owned by the Nigerian Government especially hospitals.

AN EVALUATION OF THE IMPACT OF URBAN DEVELOPMENT BANK IN PROJECT FINANCIAL IN NIGERIA

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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

The project is on the “On the evaluation of the impact of Urban Development Bank in project financial in Nigeria. The importance of this is on the benefits of Urban Development Bank in Nigeria especially to the governments and those who manages the activities of the Urban Development Bank as they would gain the knowledge on how to finance Urban Development Bank of Nigeria in project making.

The research was carried out in a number of states and some branches of Urban Development Banks and found out that the Bank lacks branches in many State and should be traced and solved through their Headquarter in Abuja.

 

 

 

TABLE OF CONTENTS

CHAPTER ONE

1.0     Introduction

• Objective of the study
• Research Questions
• Scope and Limitations of the study
• Definition of  Terms
• Significant of the study

 

CHAPTER TWO

2.0     Urban Development Bank and other Development Banks

• Similarities between Urban Development Bank and other Development Banks
• Differences between Urban Development Bank and other Development banks
• Source of Funds

 

CHAPTER THREE

• General findings, Recommendations, and Conclusion

3.1     General Finding

3.2     Recommendation

 

CHAPTER ONE

• INTRODUCTION

In the history of Nigeria, most of the Governments at one time or the other and also the articulate members of the public have recognized the growing need of Urban infrastructure Development in Nigeria. This can easily be inferred from the alarming rate of urbanization in Nigeria. Over the past few years and they continued deteriorating State of Urban environment and the numerous attendants problems.

The background to the setting up of the Urban Development Bank of Nigeria PLC can be traced to the preparation of the third National Development Plan in 1974-75. At that period, Urban problems were becoming very visible and important that the ten Federal Government had to set up a Federal Ministry of Urban development and environment. This ministry had to scrapped about three years after due to the inability of the ministry to properly execute its  orations, as a  result of the failure of conceptualization of what should be the mission of the ministry.

In appreciation of the necessity to redress the  situation of deteriorating various state of our Urban environments, some various committees had been  set up of government to look into the matter adequate.

These committees came up with various reports and proposals  gave rise to the establishment in 1997 of the Nigeria State Urban Development Programme (NSUDP) for the purpose of reducing the acute shortage of accommodation in the then newly created States of Bauch, Benue, Gongola, Imo, Niger, Ogun and Ondo. But it was soon realized that the  programme was not capable of adequately handling the programme of Urban Development.

As a result of this inadequately, the infrastructure Development fund (IDF) was introduced in 1985 as a replacement for the Nigeria State Urban Development programmes. The infrastructure Development fund (IDF) was introduced and soon ran into troubled water in order to find a permanent or lasting solution to the problem, Government accepted the proposal of developing a financial structure based on local initiatives and resources for Urban development with increased value of financial discipline. Hence, the Urban Development Bank of Nigeria Plc was established  under Decree No. 51 of 1992, better known as the Urban Development Bank of Nigeria Decree of 1992.

In conclusion, the urban development bank of Nigeria Plc was established  and charged within the promotion and development of urban centers through the provision of financial credit on a long term braise to States, Local Government and private sectors for the purpose of the Urban project and  financing.

The bank is expected to finance project on Urban infrastructure, Urban Benewal, Economic Development project, social projects and Institution Development.

 

1.1     OBJECTIVE OF THE STUDY

          The purpose for which the writer dedicated to undertake this study is lasted below:

1. To review the sources of funds available to the Urban Development Bank of Nigeria Plc.

THE ROLES OF THE CENTRAL BANK IN STABILIZING A DEPRESSED ECONOMY

(THE NIGERIAN EXPERIENCE)

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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

This study on the role of Central Bank in stabilizing a depressed economy was designed with the objectives of ascertaining if the Central Bank of Nigeria is achieving involved in the stabilization of Nigeria economy, to determine if Central bank of Nigeria has control measures over the management of money market and capital market to identify the role of central bank of Nigeria in the formation and implementation of the country and to recommend appropriate measures for improved quality contribution by the Central Bank of Nigeria for the country.

The Central bank is an important institution to a depressed economy like Nigeria, the financial trade and policies formulate and implemented by the Central bank are very important.

Infact if could be regarded as a pillar to the survival of the national economic development without which the economy will be in shamble.

In carrying out a research the research, secondary and primary data was collected and used accordingly. Related literature  were reviewed and questionnaires were prepared, distributed and analysed. The use of chi-square technique was used in analyzing the primary data. The findings of the research were reached. Following the findings, appropriate recommendation was stated in order for Central Bank to bring a stable economy should encourage good decisive policy and conclusion was reached hoping that this work will enable the role of Central Bank of Nigeria to be more appreciative.

 

         

CHAPTER ONE: INTRODUCTION

• Introduction 1
• Statement of the problem 2
• Purpose of the study 3
• Research hypothesis 3
• Significance of the study 5
• Scope and limitation of the study 5
• Definition of terms 6

 

 

CHAPTER TWO: REVIEW OF RELATED LITERATURE

• Introduction 10
• Definition 12
• Central Bank of Nigeria and its objectives 16
• Functions of Central Bank of Nigeria 19
• Monetary policy meaning and objectives 22
• Instruments used by Central Bank of Nigeria in stabilizing Nigeria                                                             33
• The roles of Central Bank of Nigeria in stabilizing Nigeria                                                             39
• Problems faced by Central Bank of Nigeria in stabilizing Nigeria 48

 

CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY

• Study area 52
• Sources of data 53
• Methods of investigation. 55

 

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS OF DATA

• Persecution and analysis of the questionnaire 58
• Test of hypothesis 69

 

CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

• Findings                                                                78
• Conclusion 79
• Recommendations 80

BIBLIOGRAPHY                                                             83

APPENDIX                                                             85

 

CHAPTER ONE

• INTRODUCTION

The objectives of establishing central bank of Nigeria were to serve as banker to the banking systems, to perform supervisory role over the commercial banks and issue currency thus requiting the supply of money in the country. It also acts as financial adviser to the government on monetary policy and implementing the policy on behalf of the government, it involves issuing legal trader currency, maintaining the value of the domestic currency enhancing mobilization of fund.

The Central Bank of Nigeria is government bank, established to keep a country’s financial system under control and these supervision.

The Central Bank of Nigeria is expected particularly in promoting economic growth by fostering the developing of money market and capital market, develop banking habits and sound financial system. In order to facilitate economic development, CBN tends to engage in activities, which extend beyond its traditional functions. In this regard, it played a unique role in the development of Nigeria economy; particularly in promoting agricultural and industrial development in general.

The Central Bank of Nigerian was established to act as the organ of government that should undertake the major financial operation of the government and by it’s conduct influence the behaviour of financial institutions so as to support the economic policy of the government. The CBN carries out this responsibility on behalf of the federal government through a process outlined in the Central bank of Nigeria decree 24, 1991 and the banks and other financial institution in formulating monetary policy.

In fact the roles played by CBN in stabilizing Nigeria economy is an enormous one. Since its inception in 1958, it had engaged in one stabilizing role or the other.

 

1.2     STATEMENT OF THE PROBLEM

The governments of the Nigerian economy has over the years witnessed serious macro – economic activities, low capacity utilization, growth unemployment heavy debt burden, acceleration inflation intensified exchange rate depreciation as well as high and perversed regime of interest rate, financing has been intensified as a major factor in the observed macro-economic problems. For stability calls for CBN intervention, to ensue confidence in the financial systems.

 

1.3     PURPOSE OF THE STUDY

          This project is mainly concerned with the objective of                   

Ascertaining if CBN is actually invol