securing the financial system of any economy. The Central Bank of Nigeria‚ led by its Governor Sanusi Lamido Sanusi‚ has put forward a policy requiring that all cash withdrawals and deposits be set at a daily limit of a maximum of N150‚ 000 while pegging that of corporate entities at N l‚ 000‚000‚ with penalty fees of N100 per extra Nl‚ 000 and N200 per Nl‚ 000 imposed on individual and corporate defaulters respectively. The Central Bank of Nigeria’s reasoning behind this policy could be because
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BANK OF INDUSTRY INTRODUCTION. The Bank of Industry was created by the Federal Executive Council in January 2002 with the sole purpose of promoting and encouraging small and medium scale industries in Nigeria by providing long term financing to the industrial sector of the Nigerian economy. It was formed by the amalgamation of three already existing development financial institutions comprising: The Nigerian Bank of Commerce and Industry (NBCI)‚ The Nigerian Industrial Development Bank (NIDB) and
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ASSIGNMENT GST 103 NIGERIAN PEOLE AND CULTURE NANRET GODFREY DIYOCK‚ REG. No. 4785 Bed 300 level 5/20/2013 QUESTION: Trace the history of Nigeria from pre-colonial era to date highlighting the leaders that rule the country at various levels‚ also indicate specific date of leadership. QUESTION: Trace the history of Nigeria from pre-colonial era to date highlighting the leaders that rule the country at various levels‚ also indicate specific date of leadership. INTRODUCTION
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sector of the economy. They are one of the biggest single causes of bank failure and distress in the Nigerian banking system. This study therefore sets out to find the common types of bank fraud that are frequently carried out in the banking system‚ the underlying causes‚ level of staff involvement‚ consequences and possible means of ameliorating the problem. A sample of 100 respondents taken in Benin City‚ capital of Edo State‚ Nigeria was studied by means of field survey tool of questionnaire and the
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The Federal Republic of Nigeria‚ is a federal constitutional republic comprising 36 states and its Federal Capital Territory‚ Abuja. The country is located in West Africa. The name Nigeria was taken from the Niger River running through the country. Nigeria is roughly split half and half between Muslims in the North and Christians in the South; a very small minority practice traditional religion. The people of Nigeria have an extensive history. Archaeological evidence shows that human habitation
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CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Information technology (IT) is a strategic resource that facilitates major changes in competitive behaviour‚ marketing and customer service (Kotler‚ 2007:312). In other word‚ it is the automation of processes‚ controls‚ and information production using computers‚ telecommunications‚ software and ancillary equipment such as automated teller machine and debit cards. It is a term that generally covers the harnessing of electronic technology for the
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The Effect Of Bank Consolidation On The Performance Of Banks In Nigeria Edit Article ------------------------------------------------- Top of Form Bottom of FormCHAPTER ONE 1.0 BACKGROUND OF THE STUDY The recapitalization and consolidation exercise in the banking industry by the former Central Bank of Nigeria Governor‚ Professor Charles Soludo has necessitated the need for different organization to engage in corporate Consolidation (mergers and acquisition). The concept of recapitalization
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CHAPTER ONE INTRODUCTION 1.0 BACKGROUND INFORMATION TO THE STUDY The study of profits is important not only because of the information it provides about the health of the economy in any given year‚ but also because profits are a key determinant of growth and employment in the medium-term. Changes in profitability are an important contributor to economic progress via the influence profits have on the investment and savings decisions of companies. This is because a rise in profits improves the cash
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CHAPTER ONE INTRODUCTION According to Phillips (2007) “Corporate governance is an encompassing policy‚ processes and people‚ which serves the needs of shareholders and other stake holders by directing and controlling management activities with good business savvy‚ objectivity and integrity”. The author stated that sound corporate governance is dependent on external market place commitment and legislation plus a healthy board culture that safeguards policies and processes. Magdi and Nadereh (2002)
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CREDIT MANGEMENT IN NIGERIA BANKS: AJUGWE CHUKWU ALPHONSUS INTRODUCTIONS Credit Management is one the most difficult task facing bankers all of over the world and the case is more pronounced in the Nigeria situation because going through the history of banking in Nigeria‚ one can observed that the major source of bank failures was ineffective credit management that led to accumulation of bad debts. Credit administration is the bane of Nigeria banks and a major source of worry to Regulatory Authorities
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