ELECTRONIC BANKING IN NIGERIA: PROBLEM AND PROSPECTS

PROPOSAL

 

Banks have been finding it difficult in transferring of money. Checking of account balances and quick access to its customers account until and quick access to its customers account until the advent of Electronic Banking.  Which makes it easy for them to accomplish the above problem.

These project work or research work is geared towards bring to light what Electronic banking is all about, its prospects i.e. future success or chances for success, and its problems i.e. its limitation.  Whether its services satisfy the customers or not.  And the challenges its races in order to satisfy the customer and economic growth.  Whether fraud can be committed through it and how to prevent or minimize it. How fast ad dependable it is to help customers in transacting or carrying.  Out their business transactions.

The major source of data used in this research work is secondary data with very little of primary data.

ABSTRACT

 

          This research work is an attempt to analyse and find out the PROBLEMS AND PROSPECTS OF ELECTRONIC BANKING IN NIGERIA.

The researcher general towards explaining what electronic Banking is all about and when it was introduce into Nigeria.  The  researcher also explained the services and the features of electronic banking in Nigeria.  Through some of the information is between the Bankers and their customer, the Researcher was able to bring some of them out.

Finally, the information contained in this project writing will educate some ignorant people, concerning how they can transact business with their bankers on their customers through electronic device.

CHAPTER ONE

INTRODUCTION

• Background of The Study
• Statement of problem
• Purpose of the study
• Research question
• Research Hypothesis
• Scope of study
• Limitation of the study
• Significance of the study

 

CHAPTER TWO

• Review of Related studies
• Meaning of Electronic Banking
• Features of electronic Banking
• Services of Electronic Banking
• Electronic payment system
• Problems of Electronic Banking
• Policy issues Raised by the Development of E-Banking

 

CHAPTER THREE

RESEARCH METHODOLOGY

• Research Design
• Sources of Data
• Location of Data
• Method of Data Collection
• Tools of Analysis

CHAPTER FOUR

Presentation and analysis of data

 

CHAPTER FIVE

SUMMARY, CONCLUSION, RECOMMENDATION AND BIBLIOGRAPHY

• Summary
• Conclusion
• Recommendation
• Bibliography

 

 

CHAPTER ONE

 

INTRODUCTION

• BANCKGROUND OF STUDY

Bank have traditionally been in the forefront of harnessing technology to improve their products and services. They have over the time, been using electronic and telecommunication networks for delivering a wide range of value added products and services.

The delivery channel include telephone personal computers including Automated Teller Machine (ATM) first introduced in Nigeria by society Generale Bank etc with the popularity of personal computers, easy access to the internet and world-wide web (WWW), internet is increasingly used by banks as a channel of delivering the products. And services too the numerous customers.  Virtually almost all banks in Nigeria have a web presence.

This form of banking is referred to as internet banking which is generally part of electronic banking (e-banking).  The main difference being that tin internet banking, the delivery channel is a public demand. It offers different online services like balance inquiry, request for cheque books, recording stop payment instructions, balance transfer instructions, accounts opening and other form of traditional banking services.  In the banking and financial services internet banking is a product of electronic commerce/banking.

Electronic Banking on the other hand is any type of business transaction that involves the transfer of  information across the Internet it involves individuals and business organizations exchanging business information and instructions over electronic media using computers, telephones and other communication equipment.  This covers a range of different types of business from consumers through banking to business exchange of trading goods or services between corporations.

The range of services and products offered by different banks vary widely both in their contrast and sophistication

 

• STATEMENT OF PROBLEM

In Nigeria, for customers, banking today is no longer about safety of their funds and increase returns in their investments only.  Customers demand efficient, fast and convenient services customer want a bank that will offer them services that will met their particular needs (personalized banking) and support their business goals. For instance, customer) businessmen want

1. To travel without carrying cash for security reasons
2. They want to be able to check their balances online

• Find out if a cheque is cleared

1. Transfer funds among accounts and even want to download

transaction records into their own computer at work or home.  All these are only achievable trough I-banking.

 

On line with rendering quality and acceptable services, Most banks are investing large sum of money in information and communication technology. First Atlantic Bank, Diamond Bank, All state bank etc are in the forefront in the use of information Technology in rendering services to their customers.  The concern of this study therefore is to examine the impact and prospect of Electronic Banking in the financial industry.  It also seek the challenges involved in Electronic banking and best of approach to implementing them.

 

1.3     PURPOSE OF THE

This project work is concerned about evaluating the prospects of internet banking and electronic Banking in Nigeria banking industry ad Financial institutions.

 

It also seek to examine the challenge facing the implementation and the general international experience on the said study.

 

1.4     RESEARCH QUESTION

The project work would provide answers to the following questions:

1. Does Electronic Banking contribute to the efficiency and reliability of Banks and banking?
2. Does electronic banking improves bank customer relationship and retains them to their respective banks?
3. Should all banks in Nigeria venture intro net banking services rather copntinuing with the tradtional banking?
4. To what extent would electronic Banking mprove the fortune of banks?
5. What is the (greatest) threat of electronic banking in Nigeria?

 

1.5     RESEARCH HYPOTHESIS

The following hypothesis are formulated from research question above:

1. Electronic Banking entrances banks profitability, efficiency and improves bank customer relationship
2. The sophistication involved in electronic banking has reduced frauds in the banking industry.
3. More banks in Nigeria are eager to join the popular activity of other banks that provides. Internet-banking services because of the merits involved.

 

• SCOPE OF STUDY

The scope of this project research is limited in Enugu and its environ.  This enable the research to have limited place for his research work, And also from internet via computer.

 

1.7     LIMITATION OF THE STUDY

Despite the research is carried out there are some limitations the researcher encounter, such as

1. Inadequate item: The period of time given by the institution’s authority for the study would not allow for an in-depth coverage of all the variables connected with the topic under study.
2. Finance: finance is another constraint to a indebt research of this topic

• Inadequate Respond: certain information required in order to highlight and analyze some observation were to accessible e.g. management strategies of some of the banks were regarded as strictly confidential and would not be divulged to the research.

1. Inadequate material: there were no much collection of variables relating to the topic.

 

1.8     SIGNIFICANCE OF THE STUDY

This study would enable the bank executives and indeed the policy makers of the banks and financial institutions to be aware of internet banking as a product of electronic banking with a view to making strategic decisions.

1. The research would provide answers to factors militating against the implementation of internet banking in Nigeria.
2. The research would prove beyond reasonable doubt that success and growth associated with implementation of electronic banking and net banking
3. The study will highlight the areas of banking operations that can be enhanced via internet banking and electronic banking
4. The research work would also be an invaluable tool for students academic, institutions, corporate managers and individuals that want to know more about electronic banking trends and internet banking trends especially in Africa where we have fewer implementations compared with Europe and America.

REFERENCES

 

1. Agene C.E, (2002), “Electronic Banking in Nigeria (Billion) Page

57-63, C.B.N Publication.

 

2. Obioma G.O, (1976), Research Methodology” Ibadan page 15-16,

Heinemann Educational Books plc.

 

3. Orjih John, (1999),Business Research Methodology” page 37-41,

Meteson Publishers company Enugu

 

4. Osuala E.C (1982), “Introduction to Research Methodology” page

30 African-Fep. Publishers limited

 

5. Ozo Johnson, Odo Peter, Ani Jude, Ugwu Titus

(1999)Introduction to Project Writing for Business and

Financial studies page 90-100, Sunny Enterprises publishers Limited, Enugu

 

 

• Wallace Michael and Elynn Patrick, (1984) Business English

Dictionary” Mackays of Charham Limited.

 

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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

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EMERGING CHALLENGES OF CAPITAL MARKET IN DEPRESSED ECONOMY

(A CASE STUDY OF NIGERIA STOCK EXCHANGE)

ABSTRACT

The market embraces the stock market, an active stock market may be relied upon on a barometer for measuring changes in general economic activities using a stock market index.

The stock market is the market for trading in stock and shares, bonds, debentures and other long-term securities.  It is also generally referred to as the secondary market where seasoned securities are traded in very much linked to the stock market is a primary market which is responsible for the placement of new issues contributes directly towards increasing loanable fund and allotting these between production economic club.

The stock market provides the forum for capital market activities.  Quoted securities have the advantages of relatively, high liquidity as they can be bought or sold through the exchange at relatively short notice.  The role of the stock market is a direct function of the extent of using and of its interrelationship with other sector of the economy.

CHAPTER ONE

• Introduction
• Statement of problem
• Purpose of study
• Research question
• Research hypothesis
• Significance of study
• Scope of study
• Limitation of the study
• Definition of terms

CHAPTER TWO

• Review of related literature
• Definition of economic depression
• Nigerian economic depression: causes and effects
• Security market
• Main features of the Nigeria capital market
• Functions
• Nigerian stock exchange

CHAPTER THREE

• Research methodology
• Sources of data
• Method of data collection
• Method of hypothesis testing

CHAPTER FOUR

• Data presentation and analysis
• Test of hypothesis

CHAPTER FIVE

• Summary of findings, conclusion and recommendation
• Summary
• Conclusion
• Recommendation

Bibliography

Appendix questionnaires

 

 

CHAPTER ONE

• INTRODUCTION

The capital market is not really a market in the traditional sense but a process or a network of the institutions that perform functions that are described as capital market activities.  It is a process through which the long term finds are procured under the intermediation of banks and non-banks financial institutions.  The financial products sourced from the capital market includes ordinary share capital which covers new issues/rights issues, preference capital, bonds and debentures, and other long term securities.

The performance of the Nigeria capital market has over the years been more of a fluctuating experience, which though is not uncommon with events in the operation of the capital market worldwide. The market is also generally referred to as the secondary market where seasoned securities are traded, very much linked to the secondary market is the primary market which is responsible for the placement of new issues contributed directly towards increasing loanable finds and allocating these between productive economic units.  The stock market is relied upon on a barometer for measuring changes in general economic activities using a stock market index.

Quoted securities have the advantage of relatively, high liquidity as they can be bought and sold through the exchange at relatively short notice.  The stock market is usually accessible to all categories of livestock small or big, government, institutions and individuals.  The role of the stock market is a direct function of the extent of usage and of its inter-relationship with other sector of the economy.

The opening of the Lagos stock exchange in 1960 marked the birth of the Nigeria capital market.  The reasons for promoting active capital market in developing countries includes:-

–        The mobilization of savings from numerous economic units for economic growth and development.

–        The encouragement of a more efficient allocation of new investment through the pricing mechanism.

–        The provision of an alternative source of find other than taxation for government.

–        The breading of ownership base or assets and the creation of a healthy private sector.

–        The provision of sufficient liquidity for any investor, group of investors.

–        The promotion of rapid capital formation.

The concern about a depressed economy was noticeable from numerous gloomy prognostications about the current state of the economy.  These have lead to talks about devastation, structural adjustment programmes, financial crunch, austerity measures, credit squeeze, retrenchment and large-scale unemployment.  All these have generated concentrated pessimism.

 

Depression is a period of reduced and stagnation of business activities, high rate of unemployment and reduction in the rate of growth of real aggregate economic activity.

The period of 1980 to data appeared to have marked the worst depression in recent rimes.  It made its impression fact manly from 1981 when government of the day failed to respond swarthy to the 1981 world oil slump.  The Nigeria Economy accelerated swarthy from position of oil affluence in the end sarrant in a situation of loan financial resources in the early eighties.  The problem became exacerbated as retrenchment of workers increased, smuggling continued to until, as those who completed their education and training flooded the labour market, as lack of finds slowed down construction and other activities and as production decreased nationally as compared to higher prices, all of these made life acutely intolerable for those household in addition to their constant application of inadequate infrastructural facilities like notable water, good roads and electricity.

Having made the above brief analysis, this research work is therefore to examine the role that the Nigeria capital market has played and still playing given Nigerian economic circumstances.

 

• STATEMENT OF PROBLEM

The Nigeria capital market in saddled with a lot of problems in the execution of its roles, aiding its own development and this contributing to speedy economic rebound.  This study aims at researching into the following problems:-

1. Lack of revitalization of the capital market and as such economic development is retarded.
2. Lack of commitment by the federal government to the objective of the capital market.

• Lack of active participation of the private sector in the capital market activities.

1. The pricing of securities by the security and exchange commission.
2. The low volume of securities for trading compared with the high demand for them.
3. Over involvement of the government in the activities of the capital market.

• The unduly cumbersome of delivery system.
• Lack of active participation of the private sector in the capital market activities.

1. The absence of jobbing
2. The insider trading in the Nigeria capital market.

 

• PURPOSE OF STUDY

While the importance of capital markets to national development and funds mobilization appear to be widely recognized, the effect of the structure and organization of the principal of the capital market to the attainment of the goals for which the market were set up does not appear to be equally appreciated, in the same vain, the role of new securities in funds mobilization is not fully appreciated.

The study is aimed at examining the role of the Nigeria capital market since its inception toward and upturn of the Nigeria depressed economy.

 

The rationale for this exercise is the recognition of the fact that an active/efficient capital market have a catalytic impact on the growth in market oriented economics.

 

• RESEARCH QUESTIONS

The following questions are hoped to be answered in the course of this study.

1. How long has the market been in existence?
2. In what way has government contributed to its level of development?
3. What are the steps to be taken to help the market.
4. To what extent is the government in the activities of the market?
5. What role can be played by government in relation to policy making?
6. How well are the private sectors making use of the capital market?
7. If their participation is not impressive, how can it be improved?
8. What other things can be done to rebound the market.

 

• RESEARCH HYPOTHESES

In this section, the hypothesis selected in chapter one is tested.  Relevant questions from the questionnaire aroused to test the hypothesis.

H0:    The role of the financial market has not contributed to the growth of the Nigeria economy.

H1:    The role of the financial market has contributed to the growth of the Nigeria economy.

 

• SIGNIFICANCE OF THE STUDY

The ignorance of the public as to the importance’s of the capital market in economic development makes this study essential.

It is the believe of some people that the capital market is an investment that requires huge amount of money and so therefore is mean for the rich and upper class in the society.

Secondly, it is directed towards approaches or strategies to be adopted in using the capital market to revitalize the economy.

Also to identify the limitations which makes the market shallow and narrow, some of which includes, the lack of commitment by the federal government to the objectives of the capital market, the pricing of security by the securities and exchange commission, the insider trading in the market, to mention but a few.

Lastly, this study will serve as a useful reference for further research work and guide government towards making policy decisions.

 

• SCOPE OF STUDY

The study and analysis of the Nigeria capital market is a very broad one.  This work is not  intended to carry on a detailed and vigorous exposition of the Nigerian capital market, rather to look analytically and por-positively at the market narrow as shallow, and conclusively appraise the market with a view to understanding the role the market has been playing and would have played further to wards the revamping of the depressed economic environment which the nation is currently being saddled with.

It is crucial to remind oneself that a dissertation on the Nigerian capital market would at some verge merge with the broader functioning and dynamics of the Nigeria financial market in general.

Deliberate attempts are made in this presentation to delineate the broader concept of the financial market and the capital market, which is the bigger segment of the former.

 

• LIMITATION OF THE STUDY

Certain problems and limitations are expected to face a study like this, such like this, such problems are active participant in the formal aspect of the capital market are reluctant either by their code of employment to divulge information relating to their organization when such information’s are relevant for clear appreciation of current issues on the market.

Absence of data source to reveal exclusively the biting issue in the market, current textbooks where information relating to the market can be obtained are readily available and such this dissertation is based in past records.

 

DEFINITION OF TERMS

It is necessary that clear definition of some technical terms and words are given to avoid any possible confusion that may arise because of their usage.

ECONOMIC DEPRESSION

This is a period when there is withdrawal, slump, act of recording, and the slicking of business and industrial activities.

SECURITY MARKET

This is the market that facilitates Marshalling of funds to be channeled into productive uses.

MONEY MARKET

This is the market, which ensures the mobilization of short-term funds with the landable objective of eliminating hoarding and minimizing idle funds with in the system.

CAPITAL MARKET

This is the market whereby medium and long-term finds are poked and made available to business governments and individual and whereby instruments already outstanding are transferred.

 

POPULATION

This is the total number of people occupying a given territory or country at a particular period of time.

FINANCING

This is the activities of government concerning revenue, expenditure and debt operation and their effects on the economy.

ECONOMY

The nation system of using its resources to produce wealth or state of country’s prosperity.

SECURITY

This is a certificate showing ownership of financial stock.

NSE

Nigerian Stock Exchange

SEC

Security and Exchange Commission

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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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THE ROLE OF CENTRAL BANK OF NIGERIAN IN THE MANAGEMENT OF THE NATIONS FOREIGN DEBT.

 

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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. 

Note:  We accept bank transfer, ATM cash transfer , Online payment using your ATM , Western union bank transfer.  We will respond to you anytime of the day. 

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

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

CALL 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 central bank of Nigerian (C.B.N) started full-scale operation on 1st July 1959, and since its inception like most of the central bank the world over, performs certain national and international functions one of which is the management of foreign debt. So this project examines the role of CBN in the management of foreign debt.
A lot of problems engulfed the central bank of Nigeria which trying to carry out this function ranging from inadequate reserves to over increasing imports bills. The study which is not one outcome of empirical research examines the different measures adopted by the central bank of Nig at different times to ensure efficient management of external debt.
The methodology employed revolves round the use of secondary data extensively round the use of less importance.
However, the magnificent increase in the volume of external depreciation in the value of the naira through the exchange market.
Finally, the debt-rescheduling programmer of the central bank of Nigeria will be meaningless if the export base is not developed to guarantee increased earning of foreign exchange.
TABLE OF CONTENTS
PROJECT TITLE
APPROVAL PAGE
DEDICATION
ACKNOWLEDGEMENT
TABLE OF CONTENTS
ABSTRACT
CHAPTER ONE
INTRODUCTION
PROBLEM DEFINITION
OBJECTIVES OF THE STUDY
HYPOTHESIS: NULL HYPOTHESIS
CHAPTER TWO
REVIEW OF RELATED LITERATURE
THE SECOND TIER FOREIGN EXCHANGE MARKET
DEBT CONVENTION PROGRAMMER
CHAPTER THREE
RESEARCH METHODOLOGY
METHOD
PROCEDURE
CHAPTER FOUR
FINDINGS
PROBLEMS ENCOUNTERED IN CARRYING OUT MANAGEMENT FUNCTIONS AND SOLUTION.
CHAPTER FIVE
CONCLUSIONS
SUMMARY
BIBLIOGRAPHY
CHAPTER ONE

INTRODUCTION
The central bank’s responsibility for the management of the nation’s external debt started at the inception of the bank itself in July 1959 when it took off Nigerian’s share of the sterling assets of the nations external reserves in the bank in 1962. The responsibility was enlarged through it’s two comes prudent banks the bank of England and the federal reserves bank of new York.
The bank invested the external reserves largely in sterling and in dollar securities of not more than 10-years maturity.
The primary consideration in its choice of investment were liquidity, security and yield.
The central problem
The central problem of managing reserves during this period was one of maintenance of adequate reserve to meet Nigerian’s external obligation for instance, in 1960 Nigeria’s external assets were adequate to meet her import bill for 9.5 months at the average rate of N3.6m per month. But with the increase in her external assets to N197 million in 1963 only 4.3 months of imports could be safety covered.
Restriction were imposed in the third /quarter of that year to reduce imports and by 1967 the average monthly bill was forced down to N37 million.
But the reserves declined during the same period and at N120m could finance approximately 3 months imports
Again in 1977 as a result of assets at the beginning of 1977 declined to a level, which could only purchase to a level, which could only purchase some four months imports at the end of that year.
Nigeria experience multiple increase in external reserves from N37.3m in December of 1972 to N3.38m in December 1975 as a result of oil reserves.
This called for a new strategy in the management of external reserves.
There were also increase in uncertainties following glowing inflation and devaluation in reserve currencies. These represented new challenges to the central bank which must now manage the enlarge external reserve to
1. Ensure relative stability in the purchasing power of the reserves.
2. Minimize losses arising from currency fluctuation.
3. Explore new opportunities for increased earnings prior to this period of excessive reserves, the problems of trying to invest the reserves never caused much concern because the bank had no surplus to invest.
1. Okigbo PNC Nigeria financial system, structure and growth (Long man Limited, Burnt Hill, Harlow, Essex, U.K. 1981.
The available reserves were invested in sterling and dollar assets. Sterling demonstrate weakness, and a result of its devaluation in November 1967 Nigeria lost a reasonable amount of money in sterling value.
But Nigeria has already finalized sterling guarantee agreement with the United Kingdom in September 1969. With this agreement Nigeria was to keep an agreed proportion of her total reserves in sterling. This agreement was renewed according to the proportion of stating holdings and has been reduced to 48 percent. The guarantee later change from United states dollar to baskets of currencies of countries comprising United Kingdom and our other trading partners. With the weakening of pound sterling as reduced by its declining value since June 1972, Britain changed the agreement in1974, sterling which until 1973 accounted for some 59% of Nigeria’s total external reserves become completely unstable and between 1971 and 1976 its depreciation against other major currencies rose to 48 percent immediately the central bank reduced its sterling holdings from 37.9 percent total external reserves in in 1971 to 28.2 percent in 1976, and this was invested in United State dollar securities which raised holdings in dollar from 10.3 percent in 1971, to some 44percent of Nigerians total external reserves in 1976.
2. Central Bank of Nigeria Economic and finance Review 1985-1988 Daily Times of Niger’s ltd Business Times 1985-1988.
PROBLEM DEFINITION
At the macro level, external debt management is a crucial tool of all economic management to the extent that a sustainable balance of payment position over the long form enhances management overall economics.
Debt management also becomes an important adjust of balance of payments arises an effective debt management strategy can help not only in restoring the balance of payments to equilibrium

MORTGAGE BANKING IN NIGERIA HISTORICAL DEVELOPMENT ACHIEVEMENT AND PROBLEMS.

 

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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. 

Note:  We accept bank transfer, ATM cash transfer , Online payment using your ATM , Western union bank transfer.  We will respond to you anytime of the day. 

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

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

CALL 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 is a research on mortgage Banking in Nigeria Historical development Achievement and problems the research sorted to know for the existence of mortgage banking has been fect by the people and to the extent their objectives has been achieved.
In carrying out this research the researcher made us of oral interview and questionnaire and the finding were that mortgage bank role towards the economic development has been felt through many areas of their promotional activities such as loan advancement home and house revaluation and refurbishment e.t.c.
Therefore, it was this base that the researcher made the conclusion that mortgage banking has been appreciated by the people and that their major objectives has been greatly achieved.

TABLE OF CONTENT

CHAPTER ONE
1.0 Introduction
1.1 purpose of the study
1.2 Statement of problem
1.3 Significance of the study
1.4 Scope of the study
1.5 Limitation for the study
1.6 Definition of the terms

CHAPTER TWO
2.0 Literature review
2.1 Functions and importance of mortgage banking
2.2 Mortgage financial
2.3
2.4 Factor effecting mortgage banking in Nigeria

CHAPTER THREE
3.0 Research design and mythology
3.1 Sources of data
3.2 Location of data
3.3 Method of investigation

CHAPTER FOUR
4.0 Summary findings
CHAPTER FIVE
5.0 Conclusion
5.1 Recommendation
CHAPTER ONE
1.0 INTRODUCTION
The Nigeria building society was the mortgage institution to be established in 1956 to finance house building not necessity home ownership. It was financed by substantial equity by the colonial later common wealth development corporation (CIX) and the federal and regional government in the regions housing corporation were established, pretty to build and save or let estates.
Housing and mortgage finance represents the third area where special intervention is made necessary by the shear magnitude of the problem.
The federal mortgage bank of Nigeria (FMBN) was established in 1977 as a fully owned federal government housing development finance agency under the federal mortgage bank act No 7 of 1977. This step followed the dissolution of the Nigeria building society (NBS) whose assets and liabilities were taken over by the FMBN. The Nigeria building society was self incorporated in December 1956 with a capital of N3.25m and jointly owned by the common wealth development corporation (CDC) the federal government of Nigeria and the eastern Nigeria government in the proportion of 60 percent, 31 percent and 9 percent respectively. The federal military government however took over the (CDC) share of the time federal mortgage bank of Nigeria (FMBN) was established in 1977 was N20 million (FMBN 1987 Dimy) .
The Dutch first of Bereuschot morel Bosboom (management consultant) was contracted by the federal government to supervise the take off the new bank for a 3 years period from 1977.
With the exist of the Dutch management consultant in July 1980 the management operations of the bank become wholly indigenous at the same time there was also a changer in the authorized share capita and ownership structure of the bank the authorizes share capital increased to N150 million jointly subscribed by the federal government and the central bank of Nigeria in the proportion of 60 percent and 40 percent respectively the federal government appoint the chairman and mebers of the board of Directors By 1931, the bank has estabilished branches in all the state capitals. Underscoring its national out look since than additional forty-three (43) home savings center had been established in major area outside the state capitals. This is decidedly to expand its sprend of service delivery as well as to widen its savings mobilization base.
The 19 branch offices were organized into zones otherwise known as area officers.
Each branch office is self-mortgage loans up empowered to approve individual mortgage loans up to N65,000.00 which has to be rectified by the head offices for the time being’s the low lending rate and longers maturity spread of FMBN loans have led to an influx of mortgage applicant from allux over the federation since 1977 to date.
The mortgage assets of the bank have been increasing steadily over the years 45 at 30th June 1977, the next mortgage assets of the bank was N75 million, but as at 31st December 1982 the Net assets of the bank stood at n326 million between 1977 and may 1986, a total loan disbursement of N365, 560,130 was made to 12,000 mortgages (federal mortgage bank of Nigeria Diary of 1987).
In 1980, a wholesome loan type was introduced to serve the loan requirement of private estate developers, state Housing Corporation and big commercial ventures.

1.1 PURPOSE OF THE STUDY
There maybe several purposes opened to any one carrying out a research of this nature but my own

BANKING DISTRESS IN NIGERIA CAUSES AND IMPLICATIONS

 

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CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY 1
1.2 STATEMENT OF THE PROBLEM 3
1.3 PURPOSE/OBJECTIVE OF THE STUDY 4
1.4 SIGNIFICANCE OF THE STUDY 4
1.5 LIMITATION OF THE STUDY 5

CHAPTER TWO
REVIEW OF RELATED LITERATURE 8

CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1 SOURCES OF DATA (SECONDARY SOURCES)24
3.2 LOCATION OF DATA 26
3.3 METHOD OF DATA COLLECTION 26

CHAPTER FOUR
FINDINGS 29

CHAPTER FIVE
RECOMMENDATION AND CONCLUSION 32
BIBLIOGRAPHY 35

A PROPOSAL
BANKING DISTRESS: Is a condition when the Banking system as a whole has negative capital and current profit are insufficient to cover losses to such an extent, that the banking system is unable to generate internally positive capital.
However, Banking distress has been a talk of the town, and it has became so rampant that even the customers to banks are after and so conscious of bank distress, which may or may not occur. Bank distress has been a cankerworm which has eaten deep to the banking stem, which leads people to death, frustration, sickness, denotion, poverty even madness over night. Let take the case study of the former (ACB and Savanah Bank) these two has led some people to poverty and some to untimely death, some ran madness over night, some children dropped out of school some family can’t find food to eat, even some business closed down/folded up.
Moreover, every problem has a solution, there are some measure that could be taken to eradicate this cankerworm that has eaten deep to banking system, one of the measure and the most important is from the foundation before any bank should start in existence, they should make sure that it is a registered bank with every statistic ready for the operation another important one is capable management have to be very strong enough. Technological know how, trained expert, another important point is SITING i.e where the bank will be built, weather insane opposite or a place that is at the SITE. You consider also the target, and the kind of business that people around engaged on.
Apparently, there should be won for further training of the staffs, and a good conducts especially from the staffs has to the exhibited on how to welcome and handle customer because there is an idiage which says “one good turn deserves another”. If all these things are put in place, bank distress must be eradicately.
Finally, recommendation for the staffs to be travelly outside the country for a course has to be in place, in order for them to get a new ideas and innovation that can help in development of the banks, which leads to civilization. Embezzlement of bank money has to disappear and fraud of any kind has also to be disappeared completely.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The issue of bank distress has been a problem which financial institutions suffer must. The era of all for free banking in Nigeria brought which can be traced as of (1892) when banking started in Nigeria gave room for the establishment of many banks because there was little or no laws guiding banking business. Because the was no law or supervisions on establishment of banks, many banks were established without adequate capital requirement.
Morestill, the era of Structural Adjustment Programme (SAP) and deregulation brought another face in the banking industry which made many banks to sprang up in Nigeria. This made many more banks to be established in our country. But, as more laws guiding banking industries were established some of these mushroom banks were affected. Such laws were regulated by some bodies and each bodies include, BOFIA, CAMA 1990, NDIC etc. banking and other financial institution Act, Company and Allied matter Act, Nigerian Deposit Insurance Corporation and all these bodies regulating the activity of banking in Nigeria.
However, bank distress became a problem in the country when these regulating bodies started monitoring the activities of these banks. Infact, so many of them as a result of not meeting the banking CAMEL, they became distress. CAMEL here refers to, capital Adequacy, Assets Quality management competency, Earning Strength and Liquidity sufficiency.
Infact, by 1954, vitually all the indigenous banks that sprary up during the free-for-all banking period got distressed and finally failed. In this period only three of them, the National Bank of Nigeria, the Agbonmagbe bank (Presently WEMA Bank) and the African continental Bank survived. Infact they were able to survive because they got assistance from state government.

1.2 STATEMENT OF PROBLEM
Having seen all the measures adopted by the government to avoid bank distress by establishing regulating bodies and laws to avoid distress. Many banks still get distress. The question now is, why do banks still