DISTRESS IN BANKING SECTOR HOW TO AVERT FUTURE OCCURRENCE. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
ABSTRACT
This study is based on x – raying financial distress in the banking sector, the apex transaction boot of our economy.
It is however interesting to note that this study not only would expose also would examine the various mechanism that have been put in place, mostly and especially in the sector, for the handling of thesis may harm in our banking industry and economy.
In this context, this study is expected to help other financial house of the Nigeria economy or the managerial cadre and government enforced discipline and strict measure to culprits and defaulters in the industry and this would enhance proper operation and healthy growth of the industry and economy.
Secondary data instrument are mainly use by the researcher. The findings were made based on the data collected.
It was discovered that poor financial planning weak control and supervising measures, lack of accounting database and government adverse policies or reforms were main cause of financial distress etc.
The findings also revealed that the high rate of unqualified personal and indiscipline contributed greatly to this concept.
In light of above findings, the researcher made some necessary and useful recommendation that if government and financial banking management adhere to would help to arrest and foster rapid growth and increase profit maximization to the banking sector and boost our economic and economy position.
CHAPTER ONE
INTRODUCTION
1.1 STATEMENT OF THE PROBLEM
The Nigeria banking industry, the issue of financial misappropriation and management is no more stories but some thing that is condemned by the society.
Stress in the financial sector mainly banking has led to a great loss and economic degeneration due to lack of proper guideline and set standard in the industry (Ebihodaghe (1994) to this effect, the economy has suffered drastically in the recent time, this problem has cause and created so many hardship to the bank and their shareholders, Bellow (1993) most of the distressed bank in Nigeria suffered from fraud, lack of organization and managerial powers and proficiency. This also contributed significantly to the liquidation of some banks. The big question is how fine will our banking industry grow with the rate of the phenomenon” distress?
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DISTRESS IN BANKING SECTOR HOW TO AVERT FUTURE OCCURRENCE. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
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