THE EFFECT OF POLITICAL LEADERSHIP ON NIGERIAN CORPORATE BUSINESSES (A STUDY OF SKYE BANK PLC)

THE EFFECT OF POLITICAL LEADERSHIP ON NIGERIAN CORPORATE BUSINESSES (A STUDY OF SKYE BANK PLC)

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CHAPTER ONE

INTRODUCTION

1.1   BACKGROUND OF THE STUDY

        Corporate business service is a form of business operation that declares the company as a separate legal entity directed by a cluster of officers known as the Board of Directors. A corporate structure is perhaps the most advantageous way to start a business because the company exists as a separate entity. Nigeria got freedom from Britain on 1 October 1960. Nigeria seen as a new created nation, the growth has become the main concern of its leadership in order to improve the level of population (Asia, 2000, p.12) living. However, has been the key difficulty that has always barred the dignified development objectives in the various area of the Nigerian financial system from its achievement of the nation is control (Asia 2000, p.13). Lack of quality management was cited as liable for the bad administration of income, which in turn results in prevalent scarcity among populace and dispossession of essential needs of life (Agweda, 2007, p.176). Also, research in Nigeria showed that the banking sectors are also catalyses of growth in project finance matters. Ebong (2006, p.2) note that the banking sector enhance development and economic growth in the course of its responsibility of intermediary between economic units that have excess resources and individuals who want these finances to sustain their venture. He emphasizes that "by amalgamating these financial forethought, the banking sector will be able to accomplish growth inline of with positive impact on their lending clients" (Ebong, 2006, p. 5).

Moreover, the banks in its own  act as a catalyst on the development of the nation in expressions of its input on gross domestic product (GDP), which Central Bank of Nigeria said was 5.51 percentage of  2005 and 2008 (CBN 2008). Furthermore, the sector is a valuable source for the employment of labour (and Oloyede Adeyeye, 2006, pp.1-2; Gberevbie, 2010, p 212). And to add to sustain the distinctive function of the banking sector as a catalyst of economic growth, Khan (2010) postulates saying the rule of the CBN to offer banks an motivation to loan, and modify the perception of the possible risks concerned in this type of loan, the real economy and employment growth benefit greatly.

The scale of the event of any nation within the world is usually determined by the standard and altruistic nature of its leaders. However, once there's a culture of freedom in any organization of the corporate or a business and there is a wide distribution of a lack of leadership by example to enthrone transparent and qualitative public bureaucracy, the one symptom degenerated underdevelopment continues to manifest as evidenced by the Nigerian government.    

Leadership is the ability of the company management to make informed decisions and to inspire others to perform well. Effective leaders are able to set and achieve ambitious targets to take swift and decisive action, even in troublesome things, to surpass their competitors, take calculated risks and to hang in within the face of failure. Strong communication skills, assurance, the power to manage others and a disposition to just accept modification additionally characterize smart leaders. According Jaques and Clement (1994, p.4) leadership is the process in which a person sets the purpose or direction of one or more other people and causes them to move along with him and with each other in that direction competently and total commitment. Leadership is repeatedly ignored by investors. This may be because it is grim to put a value on the qualitative aspects of a business (leadership being one) with respect to quantitative measures, which are generally followed and much easier to compare between companies. People with leadership skills in the business world often go top posts. Therefore, political leadership is a central concept for understanding political processes and results that's elusive. Several disciplines have contributed to the study of leadership, as well as orientation, history, scientific discipline and management studies.

1.2   STATEMENT OF THE PROBLEM

        However, the financial institution take part in its essential role of improvement in the country, the desire for successful control that supports the appropriate company moral values is essential. According to UNDP (2001), there is currently bigger responsiveness of the requirement for moral code, responsibility and openness of publicly living, because the force of unprincipled practice in the public sector is unbearable in developing country, showing in a lack of self-confidence in public institutions. In addition, it was also found that good quality control and public management free from practices of dissolute support of the sustainable growth and progress of any country (UNDP, 2001). For its part, Olayiwola (2009, pp. 53-55) postulates to facilitate the banking institution in Nigeria, for example, meagre control (practices unprincipled) is recognized as a main factor in cases almost seen as the distress on the banking sector in the nation. Thus; the absence of appropriate moral values in the public or private sector firms is beneficial to the growth of a nation.

Therefore, these studies is carried out on the fact that effective leadership that endorses the practice appropriate ethics is additional bringing good administration of banking system and which enhance the function of banks in the growth to drive Nigerian financial system.

1.3   AIMS/OBJECTIVES OF THE STUDY

        The main aim of this dissertation is to examine the effect of political leadership on Nigerian corporate businesses. Specific objectives are to fine out the following:

1.     To research various leadership theories and their influence in the         corporate business.

2.     To identify the most critical theories or models that have been         effectively used by successful multi-national companies.

3.     Critically evaluate to what extent leadership is used in     companies corporate businesses.

4.     To evaluate how leadership models are used by organizations in       Sky Bank Plc to gain competitive edge in their industry.

5.     To identify the critical issues of the leadership models that can be         applied in banking sector.

1.4   RESEARCH QUESTIONS

        The following research questions were generated to guide this study?

1.     What are the research various leadership theories and their     influence in the       corporate business?

1.5   SIGNIFICANCE OF THE STUDY

        The work will be of immense benefits to Nigerian leaders, intending leaders, politicians, government and the public as well as other stakeholders who will appreciate the need to lead (embark) on sustained good governance in Nigeria.

        The study shall conjointly projects the damaging consequences of leadership impotence on the country’s national development with a read to determinant measures of mitigating and eliminating the threat within the company sectors and nation’s leadership. Finally, this study will also help to serve as literature (reference source) to students, individuals and corporate bodies into what to carry out on further research on political leadership on Nigerian corporate businesses.

1.6   SCOPE OF THE STUDY

        The study concerns about the effect of political leadership on Nigerian corporate businesses with a particular reference to Skye Bank Plc.The study will cover theoretical framework, conceptual clarifications, empirical study and other areas relevant to the study.


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