The Impacts Of Developmental Banking System On Nigeria Economy
This work on developmental Banking system on what extent it impact on the Nigerian economy, a case study of UBA plc, will be done to ascertain to what capacity do the Bank Influence and also develop in the inhabitant of our economic activities revoking on awareness and influence of there style of living things in banking system and how successful has bank measuring up to their purpose of existence. Chapter One is an introductory aspect of the study it contains item like statement of the problem, purpose of study, scope, limitation and definition of terms. Chapter two, expounded knowledge of the review of related literature, where with theories with understanding. Chapter three is concerned on research design and methodology. This chapter tried to justify the method of data collection method of data presentation which is essential in the research method. Chapter four, deals on the data presentation and analyses delving in the financial statement. Chapter five, will dwell with the findings conclusion recommendation and appendix.
1.1 Background of the Study
Banking service when it was introduced into Nigeria economy it had bring development to the doorstep of every citizen which 70 to 80 percent of Nigerians lives depends in socio-economical livelihood since partly phase of the banking system had impacted in the country development.
This phase of development have revolved between rural areas and the urban areas. Money is said to be a life wire of civilization in a country. This means that money needs to be properly managed and controlled in the banking sector to accomplish these development aims.
Agriculture is the second major sources that generate revenue to Nigeria government after oil industry. The phase of the rural area which do undertook these agricultural activities have not felt any positive impact on the developmental plans but rather it had been recorded a decline in agricultural productivity.
Hence, the banking industries as one of every country’s sector have a controlling impact on the spurred banking not only to the urban cities but also in rural areas.
1.2 Statement of Research Problems
Commercial bank is a profit making organization, hence there is a great panic in establishing such in rural area may not be reality if service of commercial banks are not at the reach of our rural dwellers.
Therefore, the problem are:
- How to resolve the profit motive of the rural commercial banks and the essential services being rendered to the rural dwellers.
- To what extent have the commercial banks involved the rural dwellers in the economic activities in terms of awareness and sensitization
1.3 Objective of the Study
This study if aimed at investigating the impact of banking system via service that should be rendered by commercial banks other purpose of carrying out this study include:
- To evaluate the entire economic activities of the rural areas.
- To ascertain the present farmers whether they are acquainted into efficient and effective co-operative groups or associations, small and medium scale farmers and integrated rural communities
- To evaluate how effective activities are realized in rural areas of the country.
- Finally, to suggest the way forward as sine-question to government rural banking thereby, having the desired developmental impacts on the rural are in Nigeria.
1.4 Research Question
- Does the organization impacting positively on the implementation of the rural banking scheme on the rural dwellers when compared with UBA as organization?
- Does the community benefiting from the presence or banking in your area?
- Does the general assessment of rural banking system programme in Nigeria?
- H0: The organization are not impacting positively on the implementation of the rural banking scheme on the rural dwellers when compared with UBA as an organization.
H1: The organization are impacting positively on the implementation of the rural banking scheme on the rural dwellers when compared with UBA as an organization.
- H0: The community are not benefiting from the presuce or banking in your area
H1: The community are benefiting from the presuce or banking in your area
- H0: There is no general assessment of rural banking system programme in Nigeria.
H0: There is general assessment of rural banking system programme in Nigeria.
1.6 Significance of Study
A developing country such as Nigeria, 70 percent of her population depends on rural productivities. The rural dwellers who are mostly farmers require loans, to reduce hardship involved in acquiring the input as well as cultivating their farms. This explains the banking system is of high important in the rural phase.
The study, hence because significant to direct the evolution of the effect of growth in rural banking activities, influencing the rural inhabitants, which is criteria aimed by measuring economic standard.
The study is also significant to indicate to what extent the rural banking system in Nigeria has been successful. Conventional economist and analyst suggested that by supplying food, labour and invisible script us the rural areas will improved in generating urban income and employment as well as and to stabilize the speed investment if not reduce in production cost for industries and in cost of the existence of commercial banks in the rural areas.
Summary, Conclusion and Recommendation
In this study, our focus was to examine the impact of developmental banking system on Nigeria economy using UBA as a case study. The study specifically was aimed at highlighting the entire economic activities of the rural areas, ascertain the present farmers whether they are acquainted into efficient and effective co-operative groups or associations, small and medium scale farmers and integrated rural communities, evaluate how effective activities are realized in rural areas of the country, Finally, to suggest the way forward as sine-question to government rural banking thereby, having the desired developmental impacts on the rural are in Nigeria.
The study adopted the survey research design and randomly enrolled participants in the study. A total of 20 responses were validated from the enrolled participants where all respondent are drawn from customer service department, marketing department, financial department , IT department and audit and inspection department.
Based on the finding of this study, the following conclusions were made:
- The organization impact positively on the implementation of the rural banking scheme on the rural dwellers when compared with UBA as organization
- The communities are benefiting from the presence of banking in their area
- The general assessment of rural banking system programme in Nigeria is positive
Based on the responses obtained, the researcher proffers the following recommendations:
- Policies to stimulate the growth of the banking system in Nigeria should be made in order to enhance its relevance for national development
- Enhancing the level of corporate governance in the banking system and also strengthening risk management in the banking system; and
- The supervision and regulation of banks should be strengthened with a focus on risk management. These will be very useful in enhancing the level of financial deepening in Nigeria.
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