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ONUCHUKWU VIVIAN AMARACHI

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Download the complete public administration project topic and material (chapter 1-5) titled GLOBAL FINANCIAL MELTDOWN AND ITS EFFECTS ON NIGERIA BANKING SECTOR (A CASE STUDY OF INTERCONTINENTAL BANK AND FIRST BANK PLC) here on PROJECTS.ng. See below for the abstract, table of contents, list of figures, list of tables, list of appendices, list of abbreviations and chapter one. Click the DOWNLOAD NOW button to get the complete project work instantly.

 

PROJECT TOPIC AND MATERIAL ON GLOBAL FINANCIAL MELTDOWN AND ITS EFFECTS ON NIGERIA BANKING SECTOR (A CASE STUDY OF INTERCONTINENTAL BANK AND FIRST BANK PLC)

The Project File Details

  • Name: GLOBAL FINANCIAL MELTDOWN AND ITS EFFECTS ON NIGERIA BANKING SECTOR (A CASE STUDY OF INTERCONTINENTAL BANK AND FIRST BANK PLC)
  • Type: PDF and MS Word (DOC)
  • Size: [156 KB]
  • Length: [66] Pages

 

ABSTRACT

BOTH DEVELOPED AND DEVELOPING COUNTRIES AROUND THE WORLD HAVE BEEN WORRIED OVER THE EFFECT OF THE GLOBAL FINANCIAL CRISIS ON THEIR LOCAL ECONOMICS. ONE WOULD HAVE NOTICED THAT NIGERIA IS NOT EXEMPTED FROM THE CRISIS. THIS IS THE MAJOR REASON WHY THIS PROJECT WAS EMBARKED UPON TO ASCERTAIN THE EFFECTS OF THIS GLOBAL FINANCIAL CRISIS ON OUR ECONOMY BUT WITH THE BANKING SECTOR AS OUR CASE STUDY. THE PROBLEM CAUSED BY THIS GLOBAL FINANCIAL CRISIS ON OUR ECONOY AND ESPECIALLY THE BANKING SECTOR CANNOT BE OVER EMPHASIED. THE PROBLEMS TYPICALLY INCLUDE INCREASE UNEMPLOYMENT, DECREASED CONSUMER AND BUSINESS SPENDING, DECLINING STOCK PRICES, DEPRECIATION OF NAIRA AGAINST FOREIGN CURRENCIES, SHARP FALL IN THE PRICES OF SHARES AND MANY MORE. THE PURPOSE OF THIS RESEARCH IS TO EVALUATE THE EFFECT OF THIS GLOBAL FINANCIAL CRISIS ON THE BANKING SECTOR AND ECONOMY AT LARGE. FOR THE PURPOSE OF THIS, THIS RESEARCH, THE METHOD OF QUESTIONNAIRE WAS USED FOR DATA ANALYSIS WAS PERCENTAGE FORMULA AND ANY PERCENTAGE THAT IS MORE THAN FIFTY (50) PERCENT IS ACCEPTED WHILE BELOW IS NOT. THE FINDING WERE THAT THE CRISIS HAS REALLY AFFECTED THE NIGERIAN BANKS NEGATIVELY AND THE NIGERIAN STOCK EXCHANGE AS WELL, BECAUSE OF THE TREND CONTINUE, I AM AFRAID MOST OF THEM WILL GO OUT OF THE BUSINESS. RECOMMENDATION WAS ALSO GIVEN THAT THE ECONOMY SHOULD BE DIVERSIFIED AND THAT THE ACTIVITIES OF THESE BANKS SHOULD BE CHECKED TO PREVENT MISMANAGEMENT.


TABLE OF CONTENTS

Title Page                                                                  i

Approval  page                                                                 ii

Dedication                                                                 iii

Acknowledgement                                                     iv

Table of contents                                                        v

Abstract                                                                    ix

 

CHAPTER ONE       

INTRODUCTION                                               1

1.1   Background of study                                       1

1.2   Statement of the problem                                6

1.3   Purpose of the study                                        7

1.4   Significance of the study                                  8

1.5   Research Question                                          9

1.6   Scope of the study                                           9

1.7   Definition of terms                                           10

 

CHAPTER TWO

LITERATURE   REVIEW                                   12

2.1   The Origin of Global Meltdown                        13

2.2   The coming economic meltdown in Nigeria      15

2.3   Causes of Economic Recession                        22

2.4   Nigeria Banks and Capital Market                  27

2.5   Nigeria: How Economic Meltdown is affecting 35

2.6   The Global Economic meltdown and Banking

in Nigeria                                                         39

2.7   Panic comments of the banking sector            48

2.8   Summary of literature review                          51

 

CHAPTER THREE

3.0   Research Methodology                                     53

3.1   Brief outline of the study                                 53

3.2   Design of the study                                          53

3.3   Area of the study                                             54

3.4   Population of the study                                    54

3.5   Sample of the study                                         55

3.6   Instrument for data collection                         55

3.7   Validation of instrument                                  56

3.8   Distributions and retrieval of the instrument 56
3.9   Method of data analysis                                  57

 

CHAPTER FOUR

PRESENTATION AND DATA ANALYSIS           58

Discussion of the findings                               68

 

CHAPTER FIVE

5.1   Summary of findings                                       71

5.2   Conclusion                                                      73

5.3   Recommendation                                             74

5.4   Suggestion for further research                       75

5.5   Limitation of the study                                    76

References                                                       77

Appendix                                                         79

Questionnaire                                                  80

 

 

 

 

CHAPTER ONE

INTRODUCTION

  • BACKGROUND OF THE STUDY

Without being told every one whether educated or not would have understand by now that something is terribly wrong with the economy of the nations of the world, the center in the media of every nation both national and international. The pertinent questions one may ask are, what is it all about? How did it come about? How are we affected as an individual and as a nation? How is one nation and the world responding to it? How can we find our way out of the problem caused by the crisis?

Economic meltdown is a situation where the economic activities of a nation is totally paralyzed and recessed.

According to Onuigbo (2007) economic meltdown could be called economic “go slow” just as traffic I am bring vehicle movement to a half, so does economic meltdown literally bring an economy to a stop. The resultant effects are many.

Broadly defined, a recession as a downturn in a nation economic activity. The consequences typically include increased unemployment, decreased consumer and business spending and declining stock prices.

Improvement in technology has brought the entire world into a “global-village” this is the reason for the fast spread of the current global economic meltdown across the nations of the world.

 

ORIGIN OF THE CURRENT GLOBAL ECONOMIC MELTDOWN

There is a wide view that the current crunch all over the world has its root from the mortgage market crisis in the united state of America (U.S.A) between 2005 and 2006, the mortgage market in the united state was highly fulled by what they refer to a “sub-prime lending” sub-prime lending is the practice of lending, mainly in the form of mortgages for the purpose of residence to borrowers who do not meet the usual criteria of borrowing unfortunately, bad debt become rampant due to borrowers inability to repay the loan, thus lead banks rite finding a possible means of reducing their leverage ratio by raising more money.

As a stock brokers found out that the bad loans the banks and other lending institutions were carrying, they pulled their money from the banks. And the markets become worse. This has since frozen the American financial system and like a wide fine spread to the four corners of the earth.

The effects of this ongoing global economic crisis on the Nigerian economy especially the banking sector cannot be over emphasized. The current situation of our economy is a wind that blows no one good, in his address to the ministers at the first federal executive council meeting in 2009, late president Yar’Adua overtly admitted that the impact of global financial meltdown had already been notice in Nigeria (internal source).

The effect has spread to Europe, Japan, Asia, Africa, Latin, America and other parts of the world. An estimated US $1.7 trillion in bail out funds has already been committed but we are yet to see the end of the tunnel not to talk of any light in it. According to a report the world stands in need of a staggering US $4 trillion to fully resolve this crisis. Both developed and developing countries around the world have been worried over the effect of the global financial crisis on their local economics.

Hence is the current situation. At present most of the revenue funds of the Nigeria comes from the oil. Nigeria sells its oil to the west and uses that money to drop its existence. Nigeria does not generate independence revenue to maintain the Nigeria economy as a result of the financial meltdown.

 

  • STATEMENT OF THE PROBLEM

From the background of the study above, it is evidence that the ongoing financial crisis has really affected our banking sector and the economy generally. Before now, the prices of oil continue to dip from a high of more than $140 per barrel mid year of 2008 to 40, which is below of what is budgeted in the year budget.

The global economic environment is changing turn oil in the global financial market is deepening into recession across the world our recent gains in economic growth and macro economic stability may be unreaged by sustained fall in oil prices.

Nigeria is a single product economy, so whether money we get as a nation is determined by the price of oil so it very clear that this is an austerity priority the implication for banking industry is that the liquidity will be greatly impacted.

 

1.3 PURPOSE OF THE STUDY

The purpose of this research is to evaluate the effect of global financial crisis on the banking sector and the economy at large.

For proper evaluation and the effect especially the study is to examine

  1. The origin of global financial crisis
  2. The causes of global financial crisis
  3. The level of its effect on our economy specially the banking sector
  4. The individual effect in terms of employment of their financial crisis.

 

  • SIGNIFICANCE OF THE STUDY

The essence or important of this research is to explore the effect of the current global financial crisis and to also proffer an everlasting solution to it in form of recommendations.

At the end of this research, both those in government and those in private organization (banking sector) will benefit from it because many suggestion will be made that if well followed, will remedy the effect of this financial crisis in their various fields.

  • RESEARCH QUESTIONS

For proper investigation of the subject matter, the following research questions are used to guide the researcher

  1. What is the beginning of this financial crisis?
  2. What are the causes of this global financial crisis?
  3. What are the effect on the banking sector of our economy?
  4. What are the individual effects of this financial crisis based in the employment and others and solutions?

 

  • SCOPE OF THE STUDY

The research is meant to deal with the effect of global financial crisis on Nigeria especially the banking sector of the economy. Be that as it may, some selected banks in Nigeria will guide us to achieve that.

This study is limited to intercontinental bank plc and First bank all operating in Nigeria banking sector of the economy.

 

  • DEFINITION OF TERMS

In the process of writing this research some technical terms were used for simplicity, those terms that may hamper the readers understanding of the report are explained, as they are meant to be understood by the reader meltdown a serious accident in which the control part of a nuclear reactor mew’s causing harmful radiation to escape

RECESSION– A difficult time for the economy of a country than usual and more people are unemployed.

MORTGAGE – A legal agreement by which a bank or similar organization lends you money to buy a house etc and you pay the money back over a particular number of years.

 

 

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