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THE ROLE OF BANKING SUPERVISION AND EXAMINATION IN NIGERIA (A CASE STUDY OF AFRI BANK PLC)  

ABSTRACT

The purpose if writing this project is for the partial fulfillment of the requirement for the award of higher national diploma in business administration and management.

This research project is aimed at examine the role of banking supervision and examination in Nigeria, using Union Bank of Nigeria Plc, Ilorin as the case study.

The project work is going to critically evaluate the problems such as poor management and loss of depositor’s funds encountered by the Nigeria financial institution. As a result of this problems. The research work be carry out with the aim of analysis and finding a lasting solution to this stated problems of Banking in Nigerian. The research project  will  also analyze then reasons why banking need to be supervise and examine, the conduct of supervisor and examined on site function and offsite functions, licensing, operational  requirement at reserved requirement.

The research methodology is to give a comprehensive report of the methodology employed in collecting information. In this study the research will made use of both primary and secondary source if data in setting necessary information that is needed in writing this project. Chapter four deals with the presentation and analysis of data collected with the use of statistics instrument. There is needs to analysis the data collected since, all the data that is going to be gather is through concise use of questionnaire. Chapter five is the concluding part and some useful recommendation is going to be made to further ensure the role of banking supervision and examination in Nigeria.

TABLE OF CONTENTS

Title Page

Certification

Dedication

Acknowledgement

Table of contents

Abstract

CHAPTER ONE 

Introduction

1.1 General reading

1.2 Statement of the problem

1.3 Significance of the study

1.4 Objectives of the study

1.5 Definition of terms

1.6 Limitation of the study

1.7 Background of the study

CHAPTER TWO

2.1 Review of literature

2.2 Why are the banks supervised and examined

2.3 The legal frame work

2.4 The conduct of supervision and examination

2.5 On the site function

2.6 Off site function

2.7 Operational requirement

2.8 Reserve requirement

2.9 The Nigeria deposited insurance corporation

CHAPTER THREE

3.0 Methodology

3.1 Research design

3.2 Source of data

3.3 Sampling size and procedure

3.4 Data collection and procedure

3.5 Data analysis of single percentage

CHAPTER FOUR

4.0 Analysis of data

 4.1 Name of people to whom the question were administered.

CHAPTER FIVE

5.1 Summary

5.2 Conclusion / recommendation

5.3 Bibliography

5.4 Appendix

CHAPTER ONE

1.1 GENERAL READING 

The banking system in nigeria started many years ago commercial banking activities started in Nigeria in 1892.

However, in other to promote the growth of domestic money and capital market and central bank of Nigeria was established by the central bank of Nigeria act of 1958.

One of the principal objectives of central bank of Nigeria is to promote monetary stability and sundry in the financial system.

Over the years the central bank of Nigeria as conducted regular supervision and examination of banks as a means of maintaining close watch on banking corporation to ensure that banks comply with banking laws and other directive stipulated by the monetary authorities. This help to promote high leveled quality banking services are maintained. 

The central bank of Nigeria took over the entire functions of banking supervision and examination in January 1966, and on the awareness that adequate and proper supervision demanded and specialized institution that would bring together an experienced team of banks and other related professionals to facilitate the functions of bank supervision.

1.2 STATEMENT OF THE PROBLEM

It has been revealed from experience that banks face the following problem.

a. Poor management to establish sounds leading policies as adequate credit administration procedures many banks today also faced the problem of bad debts due to the fact that most of the borrower are getting into difficulty.

Similarly, there are problems of financial distress as a result of multiple contration of money supply by banks in the economy.

b. Lost of depositor’s fund as a result of failure in proper credit control and management in their lending functions. As a result of these, many of the bank customers have decided to keep their money inform of asset and at the same time they are not encouraged in banking system.

1.3 SIGNIFICANCE OF THE STUDY

This study is very important for the education of banking industry for the benefit of economic growth, ad development. In Nigeria today. The banking system should not be neglected without making reference to the development of the system.

This study is condisidering the fact that the banking system of this nation should be enlightened and educated so they can have the privilege to improve the banking operation.

It is with this intention that the study is to highlight the causesof banking supervision and examination so that the nation will no longer experience banking distress any more.

1.4 OBJECTIVE OF THE STUDY

In Nigeria today, banking system has recorded a remarkable evolution since the central bank of Nigeria commenced operations.

However the need for the study is to examine the problem that may likely caused by the banking failure in the process of loss depositors fend the failure of other banking and financial distress as a result of multiple contraction? Of money supply.

This study also aims at awakeing the banking agencies for proper management of banking activities. Also includes to evaluate a bank loan portfolio, and intern control system.

1.5 DEFINITION OF TERMS

Bank: according to advance learner’s dictionary of current English, a bank is an establishment for keeping money and valuable safely the money being paid out on the customer’s order (advance learner).

Commercial bank: These can be defined as a financial institution set up for keeping and lending money to people, owned by individual, organization or government for the main purpose of making profit (Ebeloku. A).

Central Bank: According to CBN brief research department as the central monetary authority or an apex financial institution within the entire financial structure, which promote monetary stability and a sound financial system (Ebeloku A).

Supervise: this simply means to watch and direct work, workers and organization (Mohammed. A.S)

1.6 LIMITATION OF STUDY

For the purpose of the study effort were made limit the method of data collection through primary and secondary collecting method.

Similarly, finance was another important limitation to the study. This situation created time constraint and financial difficult.

Also the study is to carry out activities of the commercial bank jointly a case of union Bank of Nigeria. Another factor that contribute to the limitation of the study was the ignorance or misconception on the part of the respondent. Many a times the respondent. Many times the respondent will not likely to attend to the researcher, because use of the law that guide them, they will sometimes refused to disclose something.

Similarly, the problem of collating the formation or fact gathered has also contributed to the limitation of the study.

Transportation is our of the problem facing in the study.

1.7 BACKGROUND OF THE CASE STUDY

Banking activities standard in Nigeria in 1892. In 1912 West Africa became the agent of the currencyboard. The monopoly of banking system  by British was broker in 1929 in Lagos when the industrial and commercial bank limited was formed by a group  of Nigerians. The bank tried to do what the two British banks were reluctant to do, that is offer credit to Nigerians. Unfortunately, it had to go into liquidation in the following year due to completion from Europeans Banks.

In 1931, another Nigeria Bank came into existence, the merchantile Bank on the 11th of February, 1933. In midst of the economic depression, the National Bank of Nigeria was established, it his the unique distinction of being the first indigenous bank in ngieria it had an authorized paid up capital of N500,000 but only N1,752 was initially paid.

The bank was setup to achieve the following aims

a. To see that every Nigeria likely to benefit from loan ad advances.

b. To assist Nigerian in stabilizing industries and properties.

c. To operate in such away to give Nigerian confidence to work efficiently in commercial and industrial fields.

After the second would loans there was increased in economic activities which led to the establishment of more commercial bank in Nigeria economic life. The Agbolmagbe Bank was established in 1945 but later changed its name to Wema bank in 1969 after it was taken over by western Nigeria development corporation in 1992.

Accordgly, a meeting of government officials and representatives of banks were called and it was agreed that there was need for legislation in the use of the world bank in the interest of both general public and those engaged in the banking business.

Consequently, a banking ordinance based on the patron commission report was eached in 1999. The commission was appointed in September 1981 to required generally into the business of banking in Nigerians and recommendation to the government on the form and extent of control, which should be introduced. By the time the ordinance became operational in the country in 1992 up till date 2005, most of the mushroom banks in the country in 1992 up till date 2005, most of the mushroom banks have collapsed with the inactment of ordinance, the establishment of new banks were restricted and the existy ones were controlled. The effect of the various legislation and amendment to the banking act could not be over emphasized because they helped to check and give sense of direction on these banks that survived the exercise.

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