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THE
IMPACT OF COMMUNITY BANK ON THE ECONOMY OF NIGERIA
ABSTRACT
This project work was
about the impact of community banking on the economy of Nigeria: a case study
of Auchi community bank. In undertaking this project work research questions
were administered to both respondents and staff of the bank from the study it
was confirmed that the respondents were aware of the community bank of Auchi.
The services offered by the bank were provision of credit facilities keeping
valuables, credit deposit mobilization
TABLE OF CONTENT
CHAPTER ONE
Introduction
Background to the
study
Statement of problem
Objectives of the
study
Significance of study
Research questions
Scope of the study
Limitations of the
study
Definition of terms
CHAPTER TWO
Review of related
literature
Objectives of
community banking
Community banks
Problems of community
banking system
Solutions to the
problems
CHAPTER THREE
Methodology and
procedure of study
Research design
Population of the
study
Sampling of the study
Sample technique
adopted
Instrumentation
Method of data
collection
Method of data
analysis
CHAPTER FOUR
Presentation of data
and discussion of results
CHAPTER FIVE
Summary, Conclusion
and Recommendation
Summary
Conclusion
Recommendations
BIBLIOGRAPHY
QUESTIONNAIRES
CHAPTER
ONE
INTRODUCTION
BACKGROUND TO THE STUDY
A community bank in Nigeria is self-sustaining financial institution owned and
managed within a community to provide financial services to that community. The
national board for community banks (NBCB) processes applications for the
establishment of community banks. The first community bank commenced operation
in December 2000 since then NBCB has issued provisional license to 1, 366
community bank and are expected to be issued final licenses by the CBN after
operating for two years. As at the end of December, 2002 there were 90 licensed
insured banks, 282 licensed community banks 74 licensed primary mortgage
institutions and 6 development financial institutions (DFLS). All these
institutions (within the exception of DFLS) take deposit from members of the
public in one form or the other. However, for all purpose, the universal banks
constitute the hub of the banking and in fact, the financial services industry.
The community banks are unit banks by design and expected to focus on small
savers in their host community. The rural areas almost 75% of Nigeria
contributed substantially about 92% of the nations agriculture products knowing
well of this visible and immeasurable contribution the rural dwellers who are
predominantly farmers are denied of any government support in terms of
increased institutionalization of agricultural credit, concessionary interest
rate policy, flexible condition on borrowing incentive to farmers,
decentralization of institutional agencies, improved credit system, great
reliability in supply of agricultural credit, negative action against
defaulting credit institution.
From
the above, this research will be carried out under an investigative analysis on
what reform the federal government is enunciating the community banking
programmes in the rural community which will be followed by an identification
of all allied strategies and their relevance to the revamping of the dwindled
rural economy in the face of the deregulation of the Nigerian economy. It is
necessary to study how the non institutional financial sector complements the
current development strategies. This study also intend to evaluate the
challenges inherent in the operations of the community
banking.
STATEMENT OF PROBLEMS
Despite
the recognition given to grass root operators by the government through the
establishment of the community banking programmes it appears that such gestures
is yet to be accepted by the rural operators. And on the other hand, informal
financial sector has not received any support even when it clamors for such
obviously because of the emergence of the problems ridden development
strategies or programmes. Some people have jointly expressed their view over
the government reckless neglect of the informal financial institution. The
institutions are consistently starved of funds and it limits the scale of
economic activities. It can support and it is equally believed that inadequate
liquidity and difficulty in identifying the structure of interest rates are
some of the problems facing the institution.
Gain
(1991) holds that the establishment of development programmes aimed at
rejuvenating from it limbo, the rural sectors by the stampeded Babangida’s
administration is nothing but a ruse to hood work and mislead the innocent, the
aggrieved and the oppressed. According to Solarin, community banking is a
window dressing that lack substance. The he seriously believed that the
programmes were more conceptual expression existing only in the contemplation
of government imagination.
PURPOSE OF STUDY
Among
the objectives of this study are:
a.
To appraise the community baking in the development of Nigeria economy in Auchi
community bank.
b.
To suggest ways of improving on community banking in the study area.
c.
To find out if the financial need of the rural operations are adequately
catered for.
d.
To know how the record priorities in terms of investment activities.
RESEARCH QUESTIONS
This
study will be guided by the following:
a.
What are the services your bank provides for Auchi area?
b.
What are the problems of community rural banking in the area?
c.
How does your bank facile these problems?
SIGNIFICANCE OF THE
STUDY
This
study will be of importance to the community banks because it will enable
community banks to adjust their credit delivery system to match the environment
situation and circumstance of the rural operations. The study will be useful to
government and the credit seekers because it will enable government to create a
new orientation and initiate measures to sanities the operations of the
existing programmes and then express credit seeker to many source of short term
fiancés. Finally the study will help future researchers as in areas of
seeking information.
SCOPE OF STUDY
The
study was the impact of community banking on the economy of Nigeria: a case
study of Auchi community bank, Auchi. The study among other things covers the
antecedent to community banking, nature and characteristics of the informal
savings pattern. The study also covers the expected roles of community banks to
rural development, the emerging peculiarities and the complementary of
community banks with informal units.
DEFINITION OF
TERMS
Bank:
It is an organization offering financial services, especially the safe keeping
of money.
Banking:
Banking is the business of accepting deposits and lending money to customers.
It is a trade like other business concerns because it has customers which are
transacts business.
Community:
A community “sentiment area” with emphasis upon affective interrelationship or
it is a group of any size whose member’s ahs a consciousness of living a common
life and sharing common destiny.
Development:
Development can be seen as a change from one state to another to the extent
that the new state is different from the formal in terms of developing.
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