The Study investigated the role of financial institutions in the development
of the Nigeria economy. The objective is to find out whether the role of
financial institutions is improving the growth and development of Nigeria
economy, to know what the government doing to maintain or encourage the
financial institutions in the development of the Nigeria Economy. We tested two
hypothesis using chi-square methods. In hypothesis one, we tested the
relationship between financial institutions and economic development. After
calculated it was discovered that chi-square calculated is greater than
chi-square tabulated. So the null hypothesis was rejected and all the
alternative is accepted which said that, there is a relationship between
financial institution and economic development. In hypothesis two, we tested
the relationship between financial institutions and implementation of
government policies. After calculated, it was discovered that chi-square
calculated is greater than chi-square tabulated and the alternative is accepted
which said that there is relationship between financial institution and
implementation of government policies.
The study among others recommend that
financial institution should channel to the key productive sector of the
economy such as agricultural sector and manufacturing sector which will lead to
rapid growth and diversification of the economy.
Table of contents
Of The Study
Of The Problem
Of The Study
Of The Study:
Of The Study
Of The Study
OF RELATED LITERATURE
of Financial Institution.
Of Financial Institutions
2.2 The Relationship between Financial
Institution And The Economy As A Whole.
Of Funds In An Open Economy A Review Of The Nigeria Economy From 2000-2014
Of Financial Institutions In The Development Of The Nigeria Economy
Of Financial Institutions.
Facing Financial Institution In Effectively Performing Their Economic Revamping
Roles In Nigeria Economy
And Role Played By Different Banking Financial Instruction.
And Roles Played By Different Non-Bank Financial Institution.
3.0 Research Methodology
3.2 Research Design
3.3 Population Of Study
3.4 Method Of Data Collection
3.5 Source Of Data Collection
3.5.2 Desk Research
AND ANALYSIS OF DATA
Test of hypothesis
Summary, Conclusion and Recommendation
5.1 Summary of Finding
1: Questionnaire cover letter
1.0 BACKGROUND OF THE STUDY
Having chosen this topic to write on,
my objectives is to find out the roles played by our financial institutions in
our present economic situation whether they being followed in this time of
economic recession their effects on the economy and the extents to which they
have gone in helping to revamp the
economy. Financial institutions.
historical background or theses financial institution are made up of banking
and non-banking institutions.
historical background of these financial institution is mode of operation which
is an important aspect of this study. By their historical background. We can
now know the aims purpose, objectives of these financial institution in our
economy. In 1st July 1959,
the first central bank of Nigeria (C.B.N) which was the apere bank that control
other financial institution in the country was established. Commercial bank is
the oldest of all banking institutional in Nigeria, it dates back to 1892 when.
It was known as the bank of British West Africa (Now First bank of Nigeria) was
established. This was followed in 1917 by the Barchys bank (Dominidu, colonia and overseas) (DCO) (Now
union bank in 1933. the first successful Indigenous commercial bank was named
National bank of Nigeria was established in 1948. African continental bank
(ACB) was established by 1960 at independent, these were (12) twelve banks
operating in the country with a total number of 160 offices and branches
scattered in different locations of the country.
Many specialized credit instutitons
have in the past two and half decades developed. These includes the Nigeria
Merchant banks, Nigeria industrial development bank (NIDB) Nigeria bank for
commerce and industry (NACB) established 1973 and restructured in the 1978 to
include the finance of co-operative bank established in the federal mortgage
bank of Nigeria constitution in July, 1977, merchant banks then are relatively
new business which were trance to 1960 when Selected financial institutions in
Enugu was established. The Non-bank financial institution includes finance
companies, the oldest finance Ltd was established in 1959.
Then insurance companies, then first
insurance companies were 1921 and was named Royal exchange Assurance company,
investment companies unit trust, co-operative societies which have its
foundation from the establishment of co-operative stores in 1844 in Britain,
its origin in Nigeria banks to the eighteen (18th) century Bureax De
change which was establish in 1989 though the decree that the same your and
persen provident fund.
is the desire of all these financial institutions to to create an impact on the
Nigeria economy. Also the citizen’s expectant from all these financial institution
is to see the roles played by these financial
institution in our present economic situations.
1.1 STATEMENT OF THE PROBLEM
In view of the development
of the Nigeria Economy, there are bedeviled practices which disturbs financial
institutions in carrying out their roles for the growth of the economy. Those
practices are as fellows below:
of ability to supply funds (Loan) to the small scales industries (Business)
inability to offer interest yielding financial instruments.
inability to effectively manger the financial aspect of the economy.
OBJECTIVES OF THE STUDY
The objectives of the
study is to find out whether the role is improving the growth and development
of Nigeria economy is being played efficiently and effectively and those things
that gives distress in the system. Another objective was to know or X-ray what
the government is doing to maintain any financial institution in the
development of the Nigeria Economy like Nigeria and solve the problem if any
and also solved the problem of low productivity. And unemployment in the
economy at large. And also in partial fulfillment of my national diploma (ND)
SIGNIFICANCE OF THE STUDY:
The research project is
more important to the financial institutions and department of the central bank
of Nigeria, various commercial banks in
Nigeria and it will also serve as readable material for further research.
It is necessary for
lectures (Teachers) and workers in relation to this study. It is important to
student taking courses in accountant, banking and finance and economics to have
modern approach to the teaching and understanding the financial institutions in
which they will find interest in.
SCOPE OF THE STUDY
The research project is
designed to cover the roles of financial institutions in the development of the
economy. It shall cover both the present and past period of financial
institutions in Nigeria. For easier collection of data some banks particularly
commercial banks will be examined for the research.
institution (Banks) engage themselves in activities that help to develop the economy?
banks regulation have any effect on the roles of financial institution as they
play in the economy?
long-term borrowing affect the role of financial institution in the development
of the Nigeria Economy?
contribution of financial funds to banks enough to be felt at well as
stimulating the economy?
The oxford advanced
learners dictionary defined hypothesis as suggestion or idea the is based on
know facts and is used as basis for reasoning or further investigation. For the
purpose of this study, the hypothesis shall be analyzed in order to prove their
level of rejections and acceptance. These are hypothesis which were used.
Ho: There is no significant
relationship between financial
institutions and economic development.
Hi: There is significant relationship
Institution and economic
Ho: There is no significant relationship
implementation of government policies
There is a significant relationship between financial
implementation of government policies
LIMITATIONS OF THE STUDY
I wish to express my
difficulties which I encountered when collecting information through the
The present fuel price
increase was a major limited as it made transportation to these banks and
libraries quite difficult.
Besides times and
financial constraints, some other factors that militated against this research
1. Lack of books: The scope
of its work was electively affected because of scarcity of books in the
2. Attitude constraints: In the case of the questionnaire, some blatantly
refused to collect it to gill while those that collected tool a lot of time to
fill the required answers. Some fill them haphazardly.
3 Bureautic constraints: Under this limitation concrete attempt
made to interview or reach top official failed because of redtaptism in running
official engagements and procedures in releasing the official or secret of the
DEFINITION OF TERMS:
Institution: it may be defined as unit
or sectors which mobilized sailing and allocate them into investment projects
for this study, I shall take them as those institutions which gather together financial
resources from surpluses sector to pump into the deficit sectors for economic
operand: This means the mode of operation in the financial institution.
Financial intermediation: these are financial institutions which
match the deposit requirement of savers with the investment requirements of the
Savings: it constitutes that part of income
not spent on consumption or expenditure on goods or services. But for in
purpose of this project, saving will be taken as that part of total income not
spent on immediate consumption but is set towards accentuation of capital for
Non-Banks: In this project, non banks on
financial institutions includes insurance companies, investment companies unit
trust, co-operative societies, Bureax De change, primary mortgage institutions
and pension and provident fund all these are non-banks, financial institutions
which help in economic growth of the development of the Nigeria Economy.
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