Home / Banking and finance / Review of the nigerian banking industry in the year 2001 –

Review of the nigerian banking industry in the year 2001 –

 

Table Of Contents

<p> </p><p>Title page &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; ii</p><p>Approval page &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;iii</p><p>Dedication &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;iv</p><p>Acknowledgement &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; v</p><p>Table of content &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;vii</p><p><strong>

Chapter ONE

</strong></p><p>Introduction &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;1</p><p>1.1 &nbsp; &nbsp; &nbsp; Background of the study &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;1</p><p>1.2 &nbsp; &nbsp; &nbsp; Statement of the problem &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 3</p><p>1.3 &nbsp; &nbsp; &nbsp; Objective of study &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 4</p><p>1.4 &nbsp; &nbsp; &nbsp; Research question &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 5</p><p>1.5 &nbsp; &nbsp; &nbsp; Purpose of the study &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 5</p><p>1.6 &nbsp; &nbsp; &nbsp; Scope &nbsp;of the study &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;6</p><p>1.7 &nbsp; &nbsp; &nbsp; Limitation of the study &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;7</p><p>1.8 &nbsp; &nbsp; &nbsp; Delimitation of the study &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 8</p><p>1.9 &nbsp; &nbsp; &nbsp; Significance of the study &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;9</p><p>1.10 &nbsp; Importance of benefit of study &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 10</p><p>1.11 &nbsp; Ration/justification of the study &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 11</p><p>1.12 &nbsp; Assumption of the study &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;11</p><p>1.13 &nbsp; Definition of the terms involved &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 12</p><p>1.14 &nbsp; Plan for development of the topic &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 13</p><p>Reference &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;15</p><p><strong>

Chapter TWO

</strong></p><p>Literature review &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 16</p><p>2.0 &nbsp; &nbsp; &nbsp; An overview of the Nigerian banking system &nbsp; &nbsp; &nbsp; 16</p><p>2.1 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Banking &nbsp;general environment &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;17</p><p>2.2 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Structure of banking system in nigeria &nbsp; &nbsp; &nbsp; &nbsp;19</p><p>2.3 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; A &nbsp;survey of the banking system in nigeria 20</p><p>2.4 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Banks struggle in recent times &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;22</p><p>2.5 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; The market movers &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;24</p><p>2.6 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; The nature and forms of professional</p><p>misconduct in recent years in Nigerian bank &nbsp; &nbsp; &nbsp; 25</p><p>2.7 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Banks threat and effect. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 27</p><p>2.8 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Measures for the improvement</p><p>of banking operation &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 28</p><p>2.9 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Marketing strategy in the banking sector &nbsp; &nbsp;29</p><p>Reference &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;31</p><p><strong>

Chapter THREE

</strong></p><p>3.1 &nbsp; &nbsp; &nbsp; Sources of data &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 32</p><p>3.2 &nbsp; &nbsp; &nbsp; Location of data used &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;33</p><p>3.3 &nbsp; &nbsp; &nbsp; Method of research investigation &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;33</p><p>Reference &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;34</p><p><strong>

Chapter FOUR

</strong></p><p>4.0 &nbsp; &nbsp; &nbsp; Findings &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 35</p><p>4.1 &nbsp; &nbsp; &nbsp; Characteristic of banking system &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;37</p><p>4.2 &nbsp; &nbsp; &nbsp; Features of banking business &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 37</p><p>Reference &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;42</p><p><strong>

Chapter FIVE

&nbsp; &nbsp; </strong></p><p>Recommendations and conclusion &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;43</p><p>5.0 &nbsp; &nbsp; &nbsp; Summary of findings &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 43</p><p>5.1 &nbsp; &nbsp; &nbsp; Recommendation &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 45</p><p>Bibliography &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 48</p> <br><p></p>

Project Abstract

Abstract
The Nigerian banking industry in the year 2001 witnessed significant changes and challenges that shaped its landscape. This review aims to provide an in-depth analysis of the key events, trends, and developments in the industry during this period. The year 2001 was marked by several notable occurrences, including the consolidation of banks, regulatory reforms, and technological advancements. One of the main highlights of 2001 was the consolidation exercise initiated by the Central Bank of Nigeria (CBN) to strengthen the banking sector. This led to the merger and acquisition of several banks, resulting in the formation of stronger and more resilient financial institutions. The consolidation process aimed to address issues of capital adequacy, corporate governance, and risk management within the sector. In addition to consolidation, regulatory reforms played a crucial role in shaping the banking industry in 2001. The CBN introduced various policies and guidelines to enhance the stability and efficiency of the sector. These reforms focused on improving transparency, accountability, and risk management practices among banks. Furthermore, the introduction of the Universal Banking Model allowed banks to offer a wider range of financial services, contributing to increased competition and innovation in the industry. Moreover, technological advancements were a key driver of change in the Nigerian banking industry in 2001. The adoption of electronic banking services, such as ATMs, internet banking, and mobile banking, revolutionized the way customers interacted with banks. This shift towards digital banking not only improved convenience and accessibility for customers but also increased operational efficiency for financial institutions. Despite the progress made in 2001, the banking industry also faced challenges that tested its resilience. Economic instability, regulatory compliance issues, and cybersecurity threats were among the major concerns that banks had to navigate during this period. However, the industry's ability to adapt to these challenges demonstrated its capacity for growth and sustainability. In conclusion, the review of the Nigerian banking industry in 2001 highlights a dynamic and evolving sector that underwent significant transformations. The consolidation of banks, regulatory reforms, and technological advancements were key drivers of change during this period. By addressing challenges and embracing opportunities, the industry was able to position itself for future growth and development.

Project Overview

INTRODUCTION

1.1   BACKGROUND OF THE STUDY

This chapter provides the background to the Nigerian banking industry in the year 2001 with the Nigerian banks in focus.

It is indisputable that inspite of the competition going on in the already existing banks within the industry.  Many new generation banks still spring up.  These are as a result of several factors like nature of services rendered by the banks their expansion plans, the quest to meet up with profit margins acceptable by the body of stake holders, seeking markets for their services etc.

During this period the banking industry was misrepresented the banks who on longer consider the satisfaction needed by their consumer, but are constantly reminded of the measures of expansion and growth in line with their competitors.

The quest for opulence has crept not only into the bank, but in all the members of staff themselves and now manifesting into high rate of malpractices in the banking sector.

One important variable of the desired expansion in the banking industry is the cost of staffing, studies have shown that bankers are well paid to encourage and motivate them to their respective duties.

In order to meet up with these costs.  Maximum efficiency needs to be put into avoid deficit.

As revealed by Nik Ogbulie viewing it from all indications available, the banking industry is growing in leaps and bounds.  But what is yet to be fully determined is whether this growth is informed by increasing rate of efficiency in banking  management or increasing demand of banking services by users of the  industry.  This becomes important because the perceive rate of growth is not industry-wide.

While some banks have remained big and strong still maintaining their mundane services approach.  The one that pep up services are still not finding the bottom line easy and heap.

1.2       STATEMENT OF PROBLEM

The major research problem is to investigate and identify such factor that  influence proper management function of the banking industry and to focus on the nature and forms of professional misconduct in the  industry.  It has been confirmed in Nigerian banks that professional misconduct takes an upward trend in the sector and further discussed it on the part of senior, middle and junior management staff.  These, Mr. Akintola Williams attributed to a number  of lapse on the part of director and boardroom rows. He reviewed existing procedures for preventing identified misconduct and suggested modalities for dealing with the problems.



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