THE IMPACT OF DEVELOPMENT BANKING IN NIGERIA (A CASS STUDY OF FEDERAL MORTGAGE BANK OF NIGERIA IN IMO STATE)
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THE IMPACT OF
DEVELOPMENT BANKING IN NIGERIA (A CASS STUDY OF FEDERAL MORTGAGE BANK OF
NIGERIA IN IMO STATE)
ABSTRACT
This project is aimed
at showing vividly the impact of development banking in Nigeria using federal
mortgage bank (FMBN) as a case study.
It is the purpose of
this research to found out if there is any problem facing theses banks in
Nigeria that leads to show development in Nigeria also the view of other
researcher on this topic of study. Finally to know how these developments
banking has contributed in economic development and growth of the economic
funds.
TABLE OF CONTENTS
Chapter one:
Introduction
1.1
Statement of the problem
1.2
Rationale of the study
1.3
Significance of the study
1.4
Definition of terms
Chapter two
Literature review
2.1 The origin of development banking.
2.2
The impact of development banking
2.3
The growth of development banking
2.4
Problems of development banks
2.5
Problems of development banks
2.6
Analysis of development bank performances
Chapter there
3.1
Statement of hypotheses
3.2
Methodology of the study
3.3
Sources of data
Chapter four
4.1
Data presentation
4.2
Analysis of data.
Chapter five
5.1 Summaries
5.2
Conclusion
5.3
Recommendations
Bibliography
or references
CHAPTER ONE
INTRODUCTION
1.1
STATEMENT OF PROBLEM
In a developing economy such as Niger
there is need for various financial intermediaries that will engage in
financing of this various sectors of this economic. Those sectors include
agricultural sector industrial sector housing sector commercial sectors
etc. Banks are one of these financial intermediaries in Niger that
engages in deposit acceptance and financing of specific legal; projects.
In Nigeria, their exist three types of banks namely merchant
bank commercial bank and development banks three has always been this problem
of distinguishing the role of thee banks in the development of the
country in most cases people sees these various bank to
have and play the same impact on an economy.
It is based on this assumption and be believe that the researcher wants to
study the separate impact and role of development bank in lacking the federal
mortgage bank as a case study.
The researcher will like to live
estimate in what ways the federal mortgage bank has helped in the development
of the economy and also the problems encounters by the developments in Nigeria.
1.2
RATIONALE OF THE STUDY
The rational of the study
is to extend the level of banking system in assisting the existing financial
institution. The purpose of establishing development banking in Nigeria
was as a result of inadequacies of the existing financial institution to needed
for the development of the industrial and agricultural sectors.
The system has contributed immensely towards the agricultural and development
sectors of the economy and to help in the Nigeria financial system.
This came to existence and perfection
of its objective in allocation of funds to ensure a allocation of health
economy and a sound financial system. It has helped a lot in developing
the Nigeria banking system?
1.3
SIGNIFICANCE OF THE STUDY
The Nigerian development banking system
is very important and of a paramount interest to Nigeria. Its
banking services are precisely indispensable of which leads to a continuance in
the economic growth of the nation.
Its contributions are follows.
A
Through a development banking the country can achieve a sophisticated financial
system
B
This banking makes granting of loans to be realistic both long and
short term credit in their various terms.
c.
To assist in the allocation of financial for various sector of the economy.
d.
It help to work out experiments for making out incentive and regulator
which would effectively induce private institutions to allocate finance
to particular sectors deserving priority.
1.4
DEFINITION OF TERMS
BANKS:
This refers to in this context as all development banks which
exist within the banking industry Nigeria.
BANKING:
This is defined as the practice of accepting deposit and giving loans including
monetary and advisory service.
DEVELOPMENT:
This is refereed to as a progress or sophistication in any activity whether in
the administration banking organization and other areas where activities are
involved which many encounter development. Development in banking means
increase in the level of knowledge of activities due to the advent
of civilization industrialization technology etc.
IMPACT:
This is a help or contribution in causing a situation even or condition to
encounter a work in progress. Also it is an effort to develop knowledge
in any aspect of development. Impact is an encroachment into a system
activity condition or situation in order to incur a well structured and
standardized knowledge of any thing in progress.
DEVELOPMENT
BANK: This is defined as
a financial institution that is set up to help the merchant
banks in areas where they are not meeting up in the creation of short and long
term credit for economic development .
DEVELOPMENT
BANKING: This is a structure
created by the government to help in the allocation of fund or financial
to various sector of the economy. It as also established to work out
incentive and regulations which would effectively induce private institutions
to carry her obligations deserving priority.
DEVELOPMENT
BANKS: Some of the development banks treated here as follows:
1.
FEDERAL MORTGAGE BANK OF NIGERIA:
This was established
to grant long term credit facilities to other mortgage institution. Also
it was put into existence to encourage mortgage institution in the
country. Furthermore it aims at providing loans at a rate determined by
the government.
2.
NIGERIA AGRICULTURAL AND CO-OPERATIVE AND RURAL DEVELOPMENT BANK (NACROB)
This was established
as a result of merging of three development banks who are not working
effectively forwards the achievement of its goal. It is concerned taking
of deposit.
It also provides loans to individuals and cooperative societies for all classes
of agriculture projects trading small scale craftsmanship and other
enterprises.
3.
THE NIGERIAN BANK FOR COMMERCE AND INDUSTRY:
This bank was
established for rapid implementation of the Nigerian enterprise
promotion. It also aims at transferring fund to the industrial area
projects and all concurring commerce and merchandise.
4. NIGERIAN INDUSTRIAL DEVELOPMENT BANK
(NIDB)
This is a bank established to help in the facilitation of industrial
development projects. It grants loans for projects pertaining to
industrial development.
It also gives advice for potential foreign exchange investors. Fostering the
development of capital markets it equally creates alternative opportunities for
productive investments in Nigeria.
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