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THE IMPACT OF THE N25
BILLION RECAPITALIZATION BY THE CENTRAL BANK OF NIGERIA ON COMMERCIAL BANKS
TABLE
OF CONTENT
CHAPTER ONE
1.0
Introduction
1.1
Background of the study
1.2
Statement of the problem
1.3
Objectives of the study
1.4
Significance of the study
1.5
Limitation of the study
1.6
Definition of terms.
CHAPTER TWO
2.0
Review of related literature
CHAPTER THREE
3.0
Research design and methodology
3.1
Sources of data
3.2
Location of data
3.3
Method of data collection
CHAPTER FOUR
4.0
Findings
CHAPTER FIVE
5.0
Recommendation and Conclusion.
Bibliographies.
CHAPTER ONE
INTRODUCTION
Central bank of
Nigeria is the apex financial institution in Nigeria charged with the
responsibility of maintaining fiscal and monetary. Stability in the economy.
The CBN has its headquarters in Abuja (F.C.T) with some zonal offices in Lagos,
Kaduna, Enugu and Ibadan. It is located in Enugu zone at Opara Avenue.
In this study, the
researcher’s mind it to know the impacts of the B25billion re-capitalization by
the CBN on the commercial banks in Enugu state off Nigeria, also banks
nation-wide.
The researcher wants to know the
problems that has caused this new directives also, assume the ways the
commercial banks can take-up to meet up with the new directives. The researcher
also, wants to know if this new directives by the CBN will help improve the
banking and Nigerian economy.
1.1
BACKGROUND OF TH STUDY
The central bank of
Nigeria was established in 1958 under the CBN act of 1958 which was repealed
thereby reenacting the CBN act of 191 (decree No 24).
The CBN owes its existence to the act
and it was set up with certain cardinal objectives in mind, e.g (i) to issue
legal tender currency in Nigeria.
(ii) to promote monetary stability and
a sound financial system in Nigeria etc.
regulations often times take the forms
of either rules or directive from the central bank and that is why it has been
given the power to:
(a)
From time to time, issue directives by circulars requiring each banks to
maintain at all times in the form of cash reserves with the bank at its office
a sum equal to a prescribed ratio of the bank deposit liabilities, etc section
39 (i).
.b.
On the recommendation from the president of the deferral republic, determine
what shall be the minimum paid up share capital of each category of banks.
Section 9 (1).
It has a management team headed by the
governor of the bank, deputy governors and directors of the diverse sectors.
The governor is an sever-able to the board of directors for its acts and
decisions.
Section 7
1.2
STATEMENT OF THE PROBLEMS
In this section, the researcher
focused on the impacts of the N25 billion re-capitalization (new directive) by
the central bank of Nigeria (CBN) on the commercial banks in Enugu metropolis
and nation-wide.
The re-capitalization is viable of
yielding some positive reactions or effects on the commercial banks which are
as follows:
1.
Globalization
2.
Merger & Acquisition and consolidation.
3.
Increased professional.
4.
Stable economy.
According to CBN governor, Prof.
Charles Soludo, We affirms that the re-capitalization is a more to strengthen
the capital base and introduce multi functional face into the industry. January
4, 2005: This Day News.
1.3
OBJECTIVES OF THE STUDY
The fundamental objectives that
prompted the researcher to going into this topic are as follows:
a.
To know the reason why the central bank of Nigeria (CBN) came up with such
directive (N25 billion re-capitalization).
b.
To find out how the commercial banks in Enugu state and nation-wide will raise
or meet up with the new directives.
c.
To find out the impacts of the new directives on commercial banks.
d.
The re-capitalization, will it help Enugu state and the Nigerian economy?
1.4
SIGNIFICANCE OF THE STUDY
The significance of
this study is to achieve a great success in contributing the little the
researcher can, if not a great deal in expressing the impacts of the new
directive (N25 billion re-capitalization) by the central bank of Nigeria on the
commercial banks which will bring about an immense knowledge and enlightenments
with particular reference to the banks in Enugu state.
Hopefully thought, this research work
will ultimately broaden the scope of the staffs and management of commercial
banks in Enugu state. Also, bring about more noticeable contribution and
enhancement to both headquarters and other branches nation-wide to know the
benefits and impacts.
Conclusively, though the researcher
limited the study to Enugu state and banks, the result of the findings will be
of great benevolence to all commercial banks in Nigeria likewise, students
conducting similar research work on the same topic or related ones.
1.5
DEFINITION OF TERMS:
IMPACTS:
This
is the reaction or the drive of the policy on the financial transactions in the
diverse levels of banks operating in the nation.
RE-CAPITALIZATION:
This
is a policy majority by the central bank of Nigeria (CBN) which creates a
gradual change in the nation.
It is also the slight differences in bank’s
capital base either higher or lower depending on the policy of the CBN.
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