Bankers-Customers Relationship In Nigeria Banking Industry With Special Emphasis On Right And Duties (A Case Study Of Union Bank Of Nigeria Plc)
1.1 Background of the Study
Before going into the subject of this study “banker customer relationship” it is very essential to have an insight into what a bankers and into really is a customer from the time immoral, it has been a difficult and controversial task to find an acceptable definitions of a banker because of the diverse activities carried out by banks. But according to decree No 2 of 1990 section 16  of the chartered institute of banker defines a banker as “a person who in consideration of remuneration received engaged himself in the practices of banking procedures.
It is also essential to identify what a bankers is through there are so many definitions of the world bank however we shall try as much a possible to see a few of the definitions as proffered by scholars.
According to section  of bill of exchange act of 1990 defined a bank as “a body of person whether incorporated or not who carry on the business of banking.
While according to Dr Herbert hart tries to defined a bank as ‘a person or company carrying on a business of receiving money and collecting draft for customer received, monies and collecting draft for customer subject to the obligation of honoring cheque drawn upon them from time to time by customer to the extent of the amount available on their current account.
Meanwhile, different people visit bank for different reason, while some people visit banks to cash their personal cheque or issued in this favor, other go to deposit cash or cheque it was however decided in TREAT WESTERN RAILWAY V. COUNTRY BANKING COMPANY LIMITED  that a customer is a person who has “some sort account either deposit or current of some relation with a bank”
However, having some sort of account with a bank is not a condition precedent to be a customer.
Due to the bankers customer’s relationship the customer and banks have obligatory right and duties with their own cash other and is shall be briefly discussed primarily the nature of the banker-customer relationship is contractual.
The nature of the banker-customer relationship, being special, generally and essentially contractual can take place in the following forms:
- Debtor-creditor relationship
- Principal-agent relationship
- Bailor – Bailee relationship
- Mortagor- Mortgage relationship
- Executor- Trustee relationship
Furthermore, in view of the banker-customer relationship, bank perform and renders services to their customers and their services cordially draw researchers attention.
1.2 Statement of Research Problem
The project has been able to provide answer to the following research question.
- What is a banker and a bank?
- Who is a customer?
- What are the right and duties of bankers?
- How can the bankers-customer relationship be established?
1.3 Research Questions
The research question base on the banker-customer relationship in Nigeria banking industry with special emphasis, on right and duties. In the course of the research, answer will be provide to the following research problem:
- Can the banker-customer relationship be terminated
- In what ways can a banker-customer relationship exist
- What are the right duties of a customer.
1.4 Objectives and Purpose of the Study
The following has been the aim and objectives of the study
- To explain the meaning of a bank and banker
- To highlight who a customer is
- To highlight the relationship between the banker customer
- To enumerate the right and duties of a banker
- To enumerate the right and duties of a customer
- To highlight the implication of banker-customer relationship
- To expatriate the termination of banker-customer relationship.
1.5 Research Hypothesis
The use of primary and secondary made of data collection is of greater help to this research work. The i9nstrument used for collection of primary data are as follows; the presentation of questionnaire and personal interviews which way conducted with some of the worker in union bank of Nigeria plc.
The sources of data collection is secondary data includes the following the use of text books, magazine, newspaper, lecturer note and annual report from the bank.
All the collected has be analyzed through the description statistic and inferential statistic hypothesis
1.6 Significance of the Study
This project work is basically designed to focus on the nature of banker customer relationship and services which the banker rendered to their customer, it is also designed to served the interest of the readers like student, bank customer and member of the society, a general reader who has no previous knowledge of banking and its also in treat in findings out what the subject is all about, is all would find this project very educative and helpful
1.7 Scope of the Study
This research is making a study basically on bankers-customer, relationship and their right and duties arising from this relationship much work would be based on the natives of banker-customer relationship and various services rendered by bankers to their customer.
Furthermore, this project has been restricted to commercial banks since they dealt largely with purely descriptive in nature and concentrated on union bank plc.
This research has a lot of limitation in it make-up which has due to the diversity of the topic. The methodology has limited by a number of factors, firstly, some respondent might refused to return their questionnaire. Also response to the question might not necessary represent the union of the respondent despite the technique used to obtain a fair representative sample and there by reduces bias to medium.
More so, time and finance constraint are other factor or a difficulty that has been encountered during the course of data collection; this has not allowed us to visit all the union bank plc. Thus data collection will be limited.
1.8 Definitions of Terms
This is a person or company carrying on business of receiving money and collecting draft for customer subject to the obligation of honoring cheque drawn upon them from time to time by customer to the extent of the amount available on their current account.
This is a person, who is consideration of remuneration, received or to be received engage himself in the practices of banking procedure
This is a person who maintains and opens an account with a banker to enjoy any of the services of a bank.
This is a contractual agreement between the banker and the customer which is legally bind and legal consequences.
1.9 Plan of the Study
This research work is divided into five main chapter has the following content,
- Chapter one is the general introduction consisting of the aim and objectives of the study, significance of the study and limitation of the study.
- Chapter two dealt with the literature review the purpose of reviewing all known [literature that has relevance to the topic being discussed in the project work]
- Chapter three dealt with data collection and research methodology
- Chapter four dealt with data presentation and data analysis using descriptive and inferential statistic method.
- Chapter five is concerned with the findings, summary, conclusion, recommendation and references.
Summary, Conclusion and Recommendations
In carrying out this research works, the research has centered on banker-customer relationship in Nigeria banking industry with special emphasis or right on duties in the course of the work, the following are our findings:
- The time which the customer spend in the bank before they are attended to its lengthy.
- There is incessant breakdown of information technology facilities
- Lack of courtesy and the receptions given by the bank officer to customer is below exception
- Some banks are still very conservative and still operating banking system by not adopting marketing strategies in their operation
- Most or some of the customer are given special preferences by the bank while others are neglected this discourage some customers.
- Sometimes complaint made by some customer are not adequately attended to and at times ignored
- The services rate is still very low, through they seem to operate on line and real time banking system but most time adopt manual operation
- The staff of the bank waste time I carrying out or in performing their works duties.
This study was designed to analysis critically the banker-customer relationship in the Nigeria banking industry. This enable the bankers to have a good relationship with its customer.
The banker-customer relationship as a constraint in the Nigerian banking industry has helped the banker to have a mutual and cordial relationship with its customer, the banker customer relationships are divided into two namely the general and the special relationship
These two relationships refers the banker as a debtor and creditor as a customer and also refer that the bank perform the agency, executor/trustee, bailment, mortgage, special function or relevant relationship.
This research work has attempted to explained the banker-customer relationship in Nigeria banking industry finding from the result of research show that there are some areas in Nigeria banking industry that needs improvement it can then be deducted that it’s existence of the customer that keeps banks in operation without these customer banking business would not have developed to its present stage.
The following recommendation will help the union bank to improve and be more effective in Nigeria banking industry:
- The banks should by try as much as possible to attend to their customer on time there by reducing the lengthy time the customer time the customer spend in the through the provision of more teller when it is detected that the banking hall is crowded.
- That the bank officer should be re-oriented on their attitude towards customer also cheerful and courtesy should be their watch word and they should know the value of the customer
- Also there should be a marketing research section staff with marketing expert with wide experience in the banking industry such section strive continuously to identify the customer needs.
- The bank should established or communicate to the customer existence of customer complaint this ensuring quick investigation and necessary corrective action.
- The bank should increase their services rate and should ensure they adopt computerization in its operation
- The bank should try to reduce the long application procedure when a customer want to open a new account or reactivate the old one close it account instead of a customer, using days or week to apply and process such application.
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