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Project Topic – The Role Of Financial Institution In A Developing Economy (A Case Study Of Guaranty Trust Bank Plc, Agbara)

TABLE OF CONTENT

TITLE PAGE

CERTIFICATION

DEDICATION

ACKNOWLEDGEMENT

ABSTRACT

 

CHAPTER ONE

1.0       INTRODUCTION

1.1       BACKGROUND OF THE STUDY

1.2       STATEMENT OF THE PROBLEM

1.3       SIGNIFICANCE OF THE STUDY

1.4       OBJECTIVE OF THE STUDY

1.5       SCOPE OF THE STUDY

1.6       RESEARCH QUESTIONS

1.7       HYPOTHESIS OF THE STUDY

1.8       LIMITATION OF THE STUDY

1.9       OPERATIONAL DEFINITION OF TERMS

1.10    CASE STUDY OF HISTORICAL BACKGROUND

CHAPTER TWO

2.0       LITERATURE REVIEW

2.1       THEORETICAL LITERATURE

2.2       HISTORICAL BACKGROUND

2.3       THE ROLE OF COMMERCIAL BANK

2.4       COMMERCIAL BANKING IN NIGERIA

2.5       EMPIRICAL LITERATURE

CHAPTER THREE

3.0       RESEARCH METHODOLOGY

3.1       INTRODUCTION

3.2       RESEARCH DESIGN

3.3       RESTATEMENT OF RESEARCH QUESTION

3.4       POPULATION OF THE STUDY

3.5       SAMPLING DESIGN AND SAMPLE SIZE

3.6       DATA COLLECTION INSTRUMENTS

3.7       VALIDITY OF THE RESEARCH INSTRUMENT

3.8       RELIABILITY OF THE RESEARCH INSTRUMENT

3,8       METHOD OF DATA ANALYSIS

3.0       LIMITATIONS OF THE METHODOLOGY

CHAPTER FOUR                          

4.0       DATA ANALYSIS AND PRESENTATION OF RESULT

4.1       INTRODUCTION

4.2       PRESENTATION OF DATA

4.3       ANALYSIS OF RESPONSE

4.4       HYPOTHESIS TESTING

CHAPTER FIVE

5.0       SUMMARY, CONCLUSION AND RECOMMENDATION

5.1       SUMMARY

5.2       RECOMMENDATION

5.3       CONCLUSION

REFERENCES

QUESTIONNAIRE

ABSTRACT

Contribution of financial institution is not just for more development, but also grow the economy of Nigeria. This is because the commercial bank attitude to the public is quiet

However, this study is aimed at identifying the contribution of financial institution in Nigerian economy, also to decimate its problem and prospects in Nigeria economy.

This study also focused attention to extent the commercials banks has adopted the use of capital asset and knowing the effect and efficiently.

Moreover, it focus is also direct to general operation of financial institution in Nigeria particularly, commercial banks.

The research on the financial institutions in agricultural development in Nigeria” A case study of GTB Plc was necessitated by the fact that the agriculture development has been on issue of great concern in Nigeria. The financial institutions particularly GTB Plc has played to the development of this sector are critically examined in the study. The study is also aware of the pass role of agriculture in the development process when cocoa and rubber products were our major source of revenue. The purpose of the study includes ways in which the Nigeria agriculture and financial institutions particularly GTB Plc have been trying to revamp the agricultural sectors, highlighting some of the problems which prevent the full realization of objectives of GTB Plc and finding solution to some of its problems. The research also includes the procedure methods used in collecting data and other important information. The primary data method is the first method used to collect data. All the information gathered in this method were mainly through personal interview. The other method termed participant observation affords the one opportunity to watch the social settings and attitudes of the people under references. Finally, the work has tried to examine the problems militating against small scale farmers and the full realization of GTB Plc objectives is agricultural development. Some policy recommendations that will help improve agricultural sector were made, these include the best policy formulation aimed at revitalizing the agricultural loans, increased rural banking (new branches and mobile banking scheme) favorable agricultural produce marketing policies, adequate infrastructural development and agriculture research and extension services.  Also for policies to succeed, state government and their agencies are required to pay their loan in time so as to make the bank program work.

 

CHAPTER ONE

1.0       INTRODUCTION

  • BACKGROUND OF STUDY

The idea of establishing financing institutions was mooted soon after the establishment of the central bank of Nigeria on first july1959, after the bank failures of the early 1950’s. At this stage, it became obvious that there was an urgent need to establish financial institutions capable of providing medium and long-term capital to full up the serious gaps in the financing system of the economy.

In view of the dwindling position of the economy the government has at various times tried to correct through monetary and fiscal policies the downward movement s of the economy as well as to place the economy on a path of meaningful development.

Owing to the important roles agriculture and manufacturing sectors are expected to play in the economic development the government introduced to a lot of policies to encourage production in these sector for example. The stipulated sect oral distribution of loans to agriculture and manufacturing sector (preferred sectors) has been increasing over the years. The government executes the monetary policies through the years. The government executes the monetary policies through the banks of which commercial banks are the key players.

Generally, we know that the financial system of any society (of which the banking system is undoubtedly the most dominate), is the framework within which capital formation takes place through intermediation of the institutions. The participants in the banking system mobilize resources from the surplus units and channel some of the deficit economic units of any country for industrialization. The banking and financial system is also required to stimulate investment, and channel such to the priority areas of the economy, thus, it acts as a transmitter of a government economic policies for growth and development through its social responsibilities. This industry is a force to reckon with in the area of employment. Banks set apart handsome portion of their annual profits to finance worthy ventures that have spillover effects on the development efforts of the government of their local communities.

With the support and encouragement of the international bank for reconstruction and development (World Bank) the first indigenous development financial institution was established in January, 1964 in the name of national import database (NIDB). The establishment of this bank in January 1964 was foreshadowed by the incorporation in 1959 of a private investment company of Nigeria (ICON) as an industrial financial with the aim of providing long and medium term finance for industry.

 

1.2       STATEMENT OF THE PROBLEM.

This research entitled “the role of financial institution in the development of an economy” attempted to determine the role of financial institutions in enhancing the economic development Nigeria, with particular reference to some premier financial the northeast Asia cooperation bank. These two financial institutions because their role in envisage to be a representative of role played by other financial institution in economic development for Nigeria.

 

1.3       SIGNIFICANCE OF THE STUDY.

The study of the role of banking and financial institutions in Nigeria is indispensable and equally significant because this role will not only enhance the economic growth of the Nigeria nation but will also improve the standard of living of the people as it directly and indirectly creates job opportunities for the teaming populating of the army of unemployed in the country. The role of financial institutions is equally worth studying because of its unique position as being solely responsible in determine and launching the nation into a vibrant economy.

The study is equally significant to the generality of Nigerians since this research reviewed the role of the financial institutions in meeting their primary objective as well as other objective with a view to improving the economic position of Nigeria. This study also review the primary role of this institution which include among other numerous function ‘proving equity capital and funds by way of loans of indigenous person, institution and organization for medium and long term investments in industry and commerce at such rates and upon such terms as many determined by way the broad in accordance with the policy directed by the federal executives council”

This study is equally significant in that it has reviewed the activities of Nigeria.

This research will hopefully be of importance to any developing nation hoping to establish financial institutions to help speed her economic development since it has highlighted the role and functions such institutions play in economic development.

 

1.4       OBJECTIVES OF THE STUDY

The main objectives here are to examine the functions of the financial institutions and access their impact on the economic growth and development of Nigeria. To be able to appreciate properly these developments, however, we need to examine the ownership distribution of the institution in the system, the structure of the system and the legal and regulatory framework within which the institutions operates.

This study also tried to ascertain how much of the objectives the financial institutions and banks have been able to achieve their standing relationship with the Nigerian public and the central bank of Nigeria (CBN).

The research will therefore look into the future of the financial system its responsibilities and its role in the Nigerian economy of tomorrow and therefore suggest likely ways of solving the problem.

 

1.5       SCOPE OF THE STUDY

The research is centered on the periods between 1990 and 1993. This range has been adopted because of availability of data.

This researcher entitles “the role of financial institutions in the developing of economy”. Is very vast but for purpose of financial constraints, availability of material and time.

It has therefore restricted or limited itself to some premier financial institutions like the northeast Asia cooperation bank (NACB) and banks. These two financial institutions were chosen as representatives of the development financial institutions because their role is envisage to be representative of role played by other financial institutions in economic development of Nigeria.

 

1.6       RESEARCH QUESTIONS.

  1. Does your institution play any role in the economic development of Nigeria?
  2. If yes what are the roles
  3. Have your institutions some area(s) of priority?
  4. If yes is increased rural banking among your priority?
  5. What are the roles of the insurance sector in the economy?
  6. Do you think that the overall objectives of establishing the institutions tends towards meeting the political and economic needs of the country?

 

1.7       RESEARCH HYPOTHESIS

The following hypothesis will further help guide the work and have been stated in their null form

Ho:      Credit delivery by financial institution has no impact on the growth of the economy.

Hi:       Credit delivery by financial institution has an impact on the growth of the economy.

Ho:      Financial institute as a development tool does not supply all necessary information needed for decision making.

Hi:       Financial institute as a development tool supply all necessary information needed for decision making.

1.8       LIMITATION OF THE STUDY

The study however, faced certain factors which serve as limitations these include:

  1. Lack of adequate material due to reluctance by banks to release their financial records
  2. Financial constraint to cover the whole banks in Nigeria.

 

1.9       OPERATIONAL DEFINITION OF TERMS.

Deregulation:- this is the policy of removing every form of control measures in the financial system of the economy.

Financial system:- this comprises the financial institutions. Intermediaries instruments, regulations and rules interacting together. In ensuring capital are moved from surplus to deficit unit.

Interest rate: this is the incentive given to despots on savings account with banks.

Monetary control: this is the instrument at t6he disposal of the monetary authority to influences of availability and cost of creditor money with the ultimate objective of achieving price stability.

Monetary policy: the regulation of the money supply interest rate by the rate central bank order to control inflation and stabilize currency. Monetary policy is one of the two ways the government can impact the economy.

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