terms‚ the business activity of accepting and safeguarding money owned by other individuals and entity and then lending out this money in order to earn a profit. Banking is a business of accepting deposits and lending money. It is carried out by financial intermediaries‚ which performs the functions of safeguarding deposits and providing loans to the public. In other words‚ Banking means accepting for the purpose of lending or investment of deposits of money from public repayable on demand and can
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Personal Growth and Development In August of 2007 I decide to further my education and attend classes at the University of Phoenix. I was in customer service as a bartender and waitress and have three children. I had my children young but knew I had the potential to improve the quality of my life and apply personal experience in my field of interest. Since personal experience was not enough‚ I knew I had to get the credentials to pay forward. I made it my goal to set an example for my children
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Role of Air Transport in the Economy 1. In an increasingly globalised economy‚ air transport is a vital element of the country’s transport infrastructure. The impact of civil aviation as a sector on the general economic activity has been studied systematically and documented for some of the Western developed countries. By itself‚ the Civil Aviation Sector contributes significantly to the process of development by generating employment opportunities directly and indirectly besides facilitating enhancement
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What Does Financial Crisis Mean? A situation in which the value of financial institutions or assets drops rapidly. A financial crisis is often associated with a panic or a run on the banks‚ in which investors sell off assets or withdraw money from savings accounts with the expectation that the value of those assets will drop if they remain at a financial institution. nvestopedia explains Financial Crisis A financial crisis can come as a result of institutions or assets being overvalued‚ and
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Entrepreneurship: Entrepreneurship is the attempt to create value through recognition of business opportunity‚ the management of risk taking appropriate to the opportunity and through the communicative and management skills to mobilize human financial and material resources necessary to bring a project to fruition. According to A. H. Cole‚ "Entrepreneurship is activity of an individual‚ undertaken to initiate‚ maintain or aggrandize profit by production or distribution of economic goods and services
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company’s capital structure more stable. Essentially‚ the process involves the exchange of one form of financing for another‚ such as removing preferred shares from the company’s capital structure and replacing them with bonds. Recapitalization in Nigeria banking sector‚ has built a solid foundation for Nigerian banks to compete favourably with their counterpart world over. Recapitalization causes unemployment due to downsizing‚ merger and acquisition‚ it causes deflation as more money is raked from
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The Positive and Negative Effects of Globalization in Nigeria Globalization according to Clark and Wallace (2003) refers to a “greater interconnectedness of the world’s financial‚ economic‚ technological‚ political‚ cultural‚ sociological‚ ecological‚ and geographical systems” (p. 447). Globalization has various effects both positive and negative on the countries that choose to achieve the worldwide connection. In the case of Nigeria‚ which is classified by the U.S Department of State as a developing
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What is the role of institutions according to North? How far does this theory go towards explaining the contours of world development in the pre-modern growth era? Maddison (2006) stated that he “would characterise the whole period 1000-1820 as ‘protocapitalist’”. He believes the transition from pre-modern to modern economic growth took place at around 1820. This will set the stage for this discussion. Within that period‚ there were two groups of countries which were differentiated by their deviation
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INSECURITY IN NIGERIA Underlying the quest for national security in Nigeria is the issue of political morality‚ which focuses on the question of defining the relationship between the state and the various groups in the society. Political morality properly construed seeks to establish and sustain the essential conditions for the smooth functioning of the state and society. It is in this light that we identify the problem of the moral basis of Nigeria’s security to be a vital imperative of national
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IT COUNTRY STUDIED: NIGERIA INTRODUCTION Nigeria‚ officially 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 and shares land borders with the Republic of Benin in the west‚ Chad and Cameroon in the east‚ and Niger in the north. Its coast in the south lies on the Gulf of Guinea on the Atlantic Ocean. There are over 500 ethnic groups in Nigeria of which the three largest
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