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The Role Of Banking Supervision And Exmination In Nigeria
[A CASE STUDY OF AFRIBANK PLC]
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1.6 LIMITATION OF STUDY
For the purpose of the study effort were made limit the method of data collection through primary and secondary collecting method.
Similarly, finance was another important limitation to the study. This situation created time constraint and financial difficult.
Also the study is to carry out activities of the commercial bank jointly a case of union Bank of Nigeria. Another factor that contribute to the limitation of the study was the ignorance or misconception on the part of the respondent. Many a times the respondent. Many times the respondent will not likely to attend to the researcher, because use of the law that guide them, they will sometimes refused to disclose something.
Similarly, the problem of collating the formation or fact gathered has also contributed to the limitation of the study.
Transportation is our of the problem facing in the study.
1.7 BACKGROUND OF THE CASE STUDY
Banking activities standard in Nigeria in 1892. In 1912 West Africa became the agent of the currencyboard. The monopoly of banking system by British was broker in 1929 in Lagos when the industrial and commercial bank limited was formed by a group of Nigerians. The bank tried to do what the two British banks were reluctant to do, that is offer credit to Nigerians. Unfortunately, it had to go into liquidation in the following year due to completion from Europeans Banks.
In 1931, another Nigeria Bank came into existence, the merchantile Bank on the 11th of February, 1933. In midst of the economic depression, the National Bank of Nigeria was established, it his the unique distinction of being the first indigenous bank in ngieria it had an authorized paid up capital of N500,000 but only N1,752 was initially paid.
The bank was setup to achieve the following aims
a. To see that every Nigeria likely to benefit from loan ad advances.
b. To assist Nigerian in stabilizing industries and properties.
c. To operate in such away to give Nigerian confidence to work efficiently in commercial and industrial fields.
After the second would loans there was increased in economic activities which led to the establishment of more commercial bank in Nigeria economic life. The Agbolmagbe Bank was established in 1945 but later changed its name to Wema bank in 1969 after it was taken over by western Nigeria development corporation in 1992.
Accordgly, a meeting of government officials and representatives of banks were called and it was agreed that there was need for legislation in the use of the world bank in the interest of both general public and those engaged in the banking business.
Consequently, a banking ordinance based on the patron commission report was eached in 1999. The commission was appointed in September 1981 to required generally into the business of banking in Nigerians and recommendation to the government on the form and extent of control, which should be introduced. By the time the ordinance became operational in the country in 1992 up till date 2005, most of the mushroom banks in the country in 1992 up till date 2005, most of the mushroom banks have collapsed with the inactment of ordinance, the establishment of new banks were restricted and the existy ones were controlled. The effect of the various legislation and amendment to the banking act could not be over emphasized because they helped to check and give sense of direction on these banks that survived the exercise.
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTThe purpose if writing this project is for the partial fulfillment of the requirement for the award of higher national diploma in business administration and management. This research project is aimed at examine the role of banking supervision and examination in Nigeria, using Union Bank of Nigeria Plc, Ilorin as the case study. The project work is going to critically evaluate the problems such as poor management and loss of depositor’s funds encountered by the Nigeria ... Continue reading---
