Get the complete project »
- The Complete Research Material is averagely 74 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
The banking system is an important sector of the economy because it acts as an agent for mobilizing funds from those who wish to deposit their money and allocating the same to those who want to borrow, thus facilitating the efficient functioning of commercial and .manufacturing activities.
The credit allocation and control policies are required by the bank and other financial in particular development activity. Control of advances are usually targeted at reducing unwise spending and promoting industrialization with a view to reviewing the economy through generation of employment to promote development.
Government gives a directive by constituting a forum of control for bank to recover all loans advances disbursed on reduction basis so that funds available would be channeled to more preferred sectors specifically agro-based, agro-alhed, agro-chemicals industries and exports. Most of the times, the control of credit at the head office and at the branch levels are essentially. On the same basis. The only difference is that the head office and regional administration are completely detached form the scene, and this takes a more realistic approach in appraising proposals with limited and defined power, whereas as a branch often makes a hurried assessment, which in most cases is completely full of sentiment, pressure and influences. As stated above, the banking and financial sector plays the role of intermediary. The sector mobilizes funds from small and big savers who have no immediate need for such funds and provided such funds for users who are basically business entrepreneurs and investors who need such funds.
These surplus funds owners may deposit their funds in the banking sector in the form of investment and they are generally referred to ultimate savers of funds. On the other hand, the users are the business entrepreneurs and individual who have brilliant ideas on how to create additional wealth in the economy, but lack the necessary capital to execute their plan and concretize their ideas from the above this group is referred to as the ultimate users of funds. Ti must be noted that one of the basic objectives of any bank is the generation of profit, which is realized through the banks ability to attract new deposits while retaining the old ones and putting them into profitable use. Such deposits funds in the opinion of the management is not immediately required for everyday working needs of the depositors and so it must be channeled appropriately to places where they are needed for economic development.
However, for any bank to achieve its objectives it must be able to manage or control its credit portfolio effectively. If the spate of bad debt now engulfing the banking industry is to be abted, these speculative tendencies on the part of the customers and passive approach by lending officers towards credit control like administration process require a process of action, analysis and follow up.
1.2 BRIEF HISTORICAL BACKGROUND OF FIRST BANK OF NIGERIA PLC
First bank of Nigeria plc was founded by Alfred Jones, a shipping magnate form live pool, who started the business of banking in Lagos with emerging of the African banking corporation (ABC) established in 1891. it was first incorporated with the name. Bank of British west African (BBWA) as a limited liability company in London on March 31st 1894 having its head office in Liverpool, started business of banking with a paid – up capital of twelve thousand pounds stipulated ($12,000) in 1957, the name was changed form Bank of Nigeria Ltd.
In 1979 and 1991, the bank of Nigeria changed to first Bank of Nigeria Ltd, and first Bank of Nigeria Ltd, and first Bank of Nigeria Plc” respectively. First Bank is having the largest network of branches in Nigeria. Today it has one of the largest portfolios of diversified loans and credit facilities to various sectors of the economy in the country. Lending is the main business of first Bank of Nigeria plc, in this process of lending money is created in a way of loans and advances usually disbursed to customers with interest and a sties pulsated terms of repayment
1.3 STATEMENT OF THE PROBLEM
There are some problems faced by some banks today, which a manager or credit officer must lay more emphasis on. The research will take a look into the ways by which the problem of lending and credit control can be eradicated in banking ( if this is a reality in the banking sector) what are the problems of leaning in banks? What problems does the credit control manager en manager encounter, in problems in granting, monitoring,
supervising and recovering of loans? All of these form a basis for this research work.
1.4 PURPOSE OR OBJECTIVES OF THE STUDY
The objectives of the research work are as follows
1. To examine the credit allocation and the credit control policies which are required by the work.
2. To know the general performances of the bank on credit control.
3. To examine the security pattern of the bank in advances and loans and in what form?
4. To examine the basic principles employed by the bank managers in granting, monitoring, supervising and recovering of loan.
5. To know the role of the central bank in the management of credits by commercial and merchant bank.
1.5 SCOPE AND DELIMITATION
This research has a special emphasis on first Bank of Nigeria plc, Yakubu Gowon way branch, Kaduna and it focuses on the control of advances on credit in the banking industry with special effort made at discovering if the procedure of credit control is still in existence or complied with in banks. Due to the nature of the organization and the inherent secrecy associated with it, the researcher and problem of getting the necessary records that should have been of great assistance in the course of the research area of study.
1.6 RESEARCH QUESTIONS
These research questions constitute the areas the researcher intends to examine, which are as follows
1. Is an effective credit control system important to the progress and development of a banking business?
2. Should collateral securities be presented for the managers when making prepositions.
3. Does the procedure for monitoring, supervision and repayment of loans vary from manager to manager?
4. Are there major procedures for following up of loan repayment?
5. Is the procedure of credit central still in existence
6. Is the credit control procedure effective?
7. What are the requirements for loans to customers?
1.7 DEFINITION OF TERMS
LOAN: it simply means that the bank lends, usually with interest and at a stipulated time and terms of payment.
ADVANCE; it can be called overdraft, it is usually on a continuous basis with fluctuation balances within a given limit.
COLLATERAL: it is insurance evaluate: at the background to make or substitute at the borrowing that the bank wants to make if the unexpected happens there by jeopardizing the safety of the lending. It will therefore minimize the risk of defaulting in the repayment of the credit on maturity.
CREDIT: an avenue in which loan able fund is made available to a prospective borrower, which is to be repaid in a determinable future date. The bank control the loanble fund.
RISK: a measurable uncertainty involved in any decision making, be it granting of loans or an advances
BANK: A bank is a financial institution which collects and from dividends or organization, safeguard them and undertakes to surrender them to their owners which required but also at a certain time, lends some of these funds to those who needs to borrow it and pay back with interest.
CONTROL: Performance evaluation that provides feed back of the result.
SECTOR; it is a branch of the banking industry or area within the banking sector for the purpose of controlling operation.
AGRO-ALLIED INDUSTRIES: These are industries that use agricultural procedures to produce with order identity dependents on others
You either get what you want or your money back. T&C Apply
Share a Comment
You can find more project topics easily, just search
SIMILAR ACCOUNTING FINAL YEAR PROJECT RESEARCH TOPICS
1. ASSESSMENT OF BANKING HABITS OF UNDERGRADUATE STUDENTS IN NIGERIA (A CASE STUDY OF UNIVERSITY OF BENIN AND AMBROSE ALLI UNIVERSITY STUDENTS)» ABSTRACT This research work, assessing the impact of information technology an inventory control in oil and gas sector. This study is focused on Kadun...Continue Reading »
52 pages | 233 hits | Source: ACCOUNTING
2. FORENSIC ACCOUNTING AS A TOOLFOR FRAUD DETECTION AND PREVENTION IN NIGERIA ( A CASE STUDY OF SURULERE LOCAL GOVERNMENT COUNCIL,LAGOS STATE)» CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY The issue of fraud, money laundering and other corrupt practices in business and government orga...Continue Reading »
87 pages | 379 hits | Source: ACCOUNTING
» SECTION ONE: INTRODUCTION 1.1 BACKGROUND OF THE STUDY 1. Introduction Capital structure simply means the way a firm finance itself through debts, equi...Continue Reading »
43 pages | 603 hits | Source: ACCOUNTING
» The article on this topic (mergers and acquisition as growth strategies in Nigeria) is an extract from literature review of the project material. The ...Continue Reading »
67 pages | 330 hits | Source: ACCOUNTING
» A tax computation is a statement showing the tax adjustments to the accounting profit to arrive at the income that is chargeable to tax. To determine ...Continue Reading »
50 pages | 472 hits | Source: ACCOUNTING
6. ASSESSMENT OF THE IMPACT OF INTERNAL CONTROLS ON FRAUD PREVENTION AND EFFECTIVE MANAGEMENT OF BUSINESS ORGANIZATIONS (A STUDY OF NIGERIAN BOTTLING COM...» ABSTRACT The research examine “Assessment of the Impact of Internal Controls on Fraud Prevention and Effective Management”, A study of Nig...Continue Reading »
52 pages | 228 hits | Source: ACCOUNTING
» CHAPTER ONE INTRODUCTION 1.0 BACKGROUND OF THE STUDY Taxes are compulsory payment imposed on the income of individuals, families, communities, trustee...Continue Reading »
52 pages | 0 hits | Source: ACCOUNTING
8. THE EFFECTS OF ACCOUNTABILITY AND TRANSPARENCY IN FINANCIAL MANAGEMENT OF NIGERIAN LOCAL GOVERNMENT (A CASE STUDY OF BENDE LOCAL GOVERNMENT» ABSTRACT There has been a persisting challenges of accountability and transparency in local government councils in Nigeria. The objective of this stud...Continue Reading »
50 pages | 469 hits | Source: ACCOUNTING
9. IMPACT OF FINANCIAL ACCOUNTING REPORTING ON THE CORPORATE PERFORMANCE OF BUSINESS ORGANIZATION (A CASE STUDY OF NIGERIAN BREWERIES PLC)» ABSTRACT The research work “The impact of Financial Accounting Reporting on the corporate performance of Business Organization”, basically...Continue Reading »
52 pages | 146 hits | Source: ACCOUNTING
» Table Of Contents Title Page Certification Dedication Preface Acknowledgement Table Of Contents Chapter One 1.0 Introduction 1.1 Problem Statement 1.2...Continue Reading »
60 pages | 265 hits | Source: ACCOUNTING