ABSTRACT
This research work examined the
“Effect of Bank distress on the saving habit of the rural dwellers” it
investigated the causes and characteristic of bank distress in the Nigerian
economy.
Many related literature were
reviewed as the researchers collected data for this work. In remote communities
where banking habit was poorly developed the exercise of changing bank notes in
1984 forced people to travel scores of mills to change their money and also
made them realize that they need banks around incessant call for extension of
bank branches to their areas. The effect of bank distress on the economy on the
other hand included the erosion of public confidence mostly to the rural
dwellers in putting their money in the banks.
TABLE
OF CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of content
CHAPTER ONE
1.0
Introduction
1.1 Background of
study
1.2
Statement of problems
1.3
Purpose of study
1.4
Research question
1.5
Significance of the study
1.6
Delimitation scope and limitation
1.7
Definition of terms
CHAPTER TWO
2.0
Review of related literature
2.1 Meaning and
characteristic of distress
2.2 Cause of bank
distress in Nigeria
2.3
Factors hindering smooth saving habits of the rural dwellers,
CHAPTER THREE
3.0 Research
designs and methodology
3.1
Sources of data
3.2
Location of data
3.3
Method of investigation
CHAPTER FOUR
3.0
Summary and finding
CHAPTER FIVE
5.0 Recommendation
5.1 Conclusion
References and bibliography
CHAPTER
ONE
1.1 BACKGROUND OF
STUDY
A bank can be defined as an
organization whose principal operation are concerned with the accumulation of
temporarily idle money of the general public from the purpose of advancing to
others for expenditures.
John page defined a bank “A
corporation or person(s) who accept money on current account, pays cheques on
such account on demand and collects cheque for customers”
Oxfords advanced learners Dictionary
define a bank as an organization or a place that provides a financial services
or a place where something is stored ready for use.
The establishment of modern banking
in Nigeria dates back to the colonial when the African Banking corporation was
formed in 1892 to distribute currency notes of Bank of England for the British
Treasury subsequent developments were encouraged by colonial trade. In the bid
to address the credit needs of indigenous enterprises, Nigerian late ventured
into the banking business, initially through private individual initiatives and
later through deliberate government policy.
The problem of distress in the
financial sector, including outright bank failure, has been observed in Nigeria
as back as 1930 when the first bank failure was reported indeed, between 1930
and 1958 when the central bank of Nigeria (CBN) was establishment over 21 bank
failure were recorded.
However, the degree of intensity and
scope of the distress has never been as serious as has been observed since June
1989 when government directive to withdraw deposits of government and other
public sector institution from bank to the CBN exposed the weak financial
condition of most financial institution and the severity of problem has
progressively here used.
The distressed condition has been
traced to a wide range of causes, some of which are listed on literature
review. Eventually, when distress came to into the scene, fears of loosing fund
to the banks influenced negatively, the banking habit of the rural dwellers.
1.2 STATEMENT OF
PROBLEMS
With the wave of distress spreading
in the finance companies, community banks and primary mortgage institutions, a
total of 24 banks were distressed in 1933, ad against 10 in 1992, 31 finance
house were in default of malures obligations 456 complaints against 156 finance
companies for non resumption of matured funds, however, total assets and
liabilities of 395 finance firms stood at N13.38 billion in 1993 as against
N2.44 billion reported for the proceeding year (1992).
THE SATIATION WAS ATTRIBUTED TO THE
FOLLOWINGS
- Prevailing economic recession, policy induced hock
poor and detonating asset quality
arising from large portfolio of non-performing credits non-maintenance of
assets and liability.
2.
Poor management bothering on sharp practice and lack of experience which is the
most serious problem, associated with bank distress in the rural area.
3.
Ineffective, inefficient and poor performance of the financial sector on the
role of promoting and supporting economic development in the rural areas.
The problem in focus above,
triggered off the interest of the researchers to carry out study in the area.
1.3 PURPOSE OF
STUDY
Under the purpose of study, which in
other words, is the objectives of study the researcher will try to ascertain
the following
- What bank distress is all about
- How it has affected the banking habit of the rural dwellers.
- The causes of bank distress.
- To enlighten the rural dwellers on the need you putting their money in banks.
- To ascertain the percentage of commercial banks is the rural areas.
- To encourage and ensure effective rural savings.
1.4 RESEARCH
QUESTION
1.
What is bank distress
2.
What are the causes of bank distress
3. How
does bank distress affects the saving habit of the rural dwellers?
4.
What can be done to prevent bank distress?
5. How
should rural dwellers be enlightened on the need of putting money in bank.
1.5 SIGNIFICANCE
OF STUDY
In discussing the effect of bank
distress on the saving habit of the rural dwellers the researcher have some
important beneficiaries which include the following:
a.
THE BANKING SECTION:- From the work the management should know the
damages, distress in causing the conceptions of the bank dwellers towards
savings in the bank. This will make the management seat up an enunciate
managerial policies that are capable phasing out cases of distress in banks.
b. THE
RURAL DWELLERS: Their benefit is indirect, it doesn’t appeal to them
directly since distress is the effects on their saving habit.
Distress in bank will be eradicated
to enable bank flourish well, so it is that benefit (such as rehabilitating the
management so as to restore confidence and safely and area) that the banks get
that will influence them directly. They will see it themselves, people in the
rural area will save their money in banks and get them anytime they want. They
will allay the fear in the rural dweller and energies their spirit of putting
their money in banks. This is a result of powerful recommendations and
suggestion made in this work.
c.
ACADEMIC INSTITUTION:- This work is relevant to the institution and the
students in the field of management sciences. Especially those in banking and
finance in the sense that it will improve their literate review purposes, some
copies of this work will be kept in the institution library for subsequent
researchers for further research references.
d. THE
GENERAL PUBLIC:- It is also significant to everybody these include mostly
the investors, pubic libraries and research institution, where copies of this
work will be kept and the general public can go and get copies, read and now
known what is going on at the rural areas pertaining their banking habits.
e.
INVESTOR: The study exonerates fears the investors have from saving in
the bank due for distress because the investors would not like to dump the
little they have with the bank.
f.
PUBLIC LIBRARIES:- This work will increase their stock of books for
research purposes by researcher.
g.
RESEARCH INSTITUTES:- It is significant to the researcher institutes,
because they keep those research work for further research by researchers.
1.6 DELIMITATION
SCOPE AND LIMITATIONS
Delimitation: This work is delimited
to the effects of distress to the general economy the use of primary data
questionnaire method and interview methods are also delimited in this project
work.
SCOPE: This study covers the effects of bank distress in the saving
habit of the rural dwellers.
LIMITATIONS: The following problems, were encountered during the project
work.
a.
TIME FACTOR: No time is specifically given for the term paper work, one
will be attending lectures and at the same time researching from the work there
is not time to go to the library. Achievers etc for the project work or even
market survey as the need may be.
b. LACK
OF RESEARCH FACTORIES:- lack of text books or reference materials which
contains the effect of have distress on the saving habits of the rural dwellers
were hardly seen or found which made it difficult for the researcher to get
enough facts.
c.
SHORT OF FINANCE:- back of money or financial problem at time
limit researcher from group to the villages to get facts as a man be needed for
the works.
1.7 DEFINITION OF
TERMS
1.
Collateral:- Stocks or bound pledged as security for repayment of a loan.
2.
Unscrupulous not doing guided by coincidence not held back from dong wrong.
3.
Amity: Friendship is friendly relations between persons or countries.
4.
Financial intermediaries: Like finance companies primary mortgages institution
etc who serve as a go-between o. link in the financial institutions.
5.
Malase: feeling of badly discomfort, but without clear signs of a particular
illness.
6.
Parlance: use or choice of words, ways of speaking.
7.
Default: Fail to p[perform a duty or to pay a debt.
8.
Allay: make something (e.g) pain, trouble, excitement fears less.
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