ABSTRACT
This project gives a description of the practical knowledge and working experience acquired by me, during my staying in school, and some research made so far.
In that case, I started this project with a brief description of the introduction/background, statement of problems, and objectives of the study and its significance etc.
Furthermore, my special achievement is that I gained some practical experience that can help and forward work in any bank. The project covered for the 2 years duration of my course in Ordinary National Diploma (OND) in Business Administration and Management dealt more on the effect of distress in commercial banks which comprises of 1,2, and 3.
CHAPTER ONE
1.1 INTRODUCTION
Given the events of the past and the anxieties being experienced by most people in the society as to likely effects of renewed regulation within the banking industry, especially in relation to interest rate, I consider the topic “A strategy for avoidance of distress in Nigerian commercial banks” to be really current.
The distress which reared its head in the banks on the early minutes, has no doubt had negative impact on the sector for one, banks are no longer regarded as the most sacred institution. Trust and confidence – the basic attributes that sustains management and customers relationship have disappeared the implication that less Nigerian today’s belief that banks still remain that safe vault for money and valuables.
These phenomenal changes brought by the distress – paved way for the collapse of many banks. The failed banks at present cannot meet their obligation owed to both new sector, indicate that N47.9 million, representing about 25% of the entire banking deposits was lost through the financially distressed banks.
Yet banks play vital role in the development of the economy. It is the pivot of sectional advancement through the provision of loan and credit facilities for investment. Essentially the intermediation between savers and investors, and mobilization and centralization of the scattered ideal funds of workers etc. for investors to borrow for their operation, constitute the major plan for sustainable banking development and culture.
It is not surprising that the current distress has seriously eroded the confidence of an average depositor on banks. Against this background bankers are eager to utilize every forum to discuss the operations in the sector, the way of improving their services and restoring the sector to its traditional position and role.
1.2 BACKGROUND OF THE STUDY
Financial distress in the Nigerian financial system is problem that has of recent assumed in intractable dimension. The situation is such that the regulatory authorities appear to be fighting a losing battle in their bid to sanitize the system. The study becomes more imperative when we realize the important role such institution play in an economy, and on economy can survive nor progress without a sound and dependable banking system.
Terms of Use: This is an academic paper. Students should NOT copy our materials word to word, as we DO NOT encourage Plagiarism. Only use as a guide in developing your original research work. Thanks.
Disclaimer: All undertaking works, records, and reports posted on this website, eprojectguide.com are the property/copyright of their individual proprietors. They are for research reference/direction purposes and the works are publicly supported. Do not present another person’s work as your own to maintain a strategic distance from counterfeiting its results. Use it as a guide and not duplicate the work in exactly the same words (verbatim). eprojectguide.com is a vault of exploration works simply like academia.edu, researchgate.net, scribd.com, docsity.com, course hero, and numerous different stages where clients transfer works. The paid membership on eprojectguide.com is a method by which the site is kept up to help Open Education. In the event that you see your work posted here, and you need it to be eliminated/credited, it would be ideal if you call us on +2348064699975 or send us a mail along with the web address linked to the work, to eprojectguide@gmail.com. We will answer to and honor each solicitation. Kindly note notification it might take up to 24 – 48 hours to handle your solicitation.