SECURITIES PERFECTION AND DEBT RECOVERY IN THE NIGERIAN INDUSTRY (A CASE STUDY OF SKYE BANK PLC NIGERIA)

1.0       INTRODUCTION

Bank plays important roles in the economic life of a country particularly a developing nation through the provision of banking services. As agent of development, they provide loans and advance including a variety of contingent facilities, which could either be short term or long terms. This explains why credit guidelines contained in governments monetary circulars stipulate aggregate causing on credit creation as well as the sectionals avocation which bank   other financial institution must comply with during a fiscal year.

In recent time, banks have witnessed a phenomenal growth in term of loans in their portfolios and the need to finance industrial project in line with the nation’s rapid growth industrialization.

Some of the facilities generally provided by bank included: short term finance, medium term finance, long term finance building / mortgage wars advance against produce etc.

When banks are providing these kinds of facilities and some others, they are exposed to some risks. Lending has some other are exposed of some risks lending has become a vital function inn banking operations because of its direct effect on economic growth and business development.

Though a banker is expected too exercise consideration skill, use his experience techniques in analyzing credit proposal and assessing the risks, it has been established from experience that unforeseen situation sometimes affect the borrowers ability to pay and this has banks to insure themselves in case the unexpected happens by demanding some form security.

Securities and perfection are particularly relevant to our situation in this country. Bad debts simply means loans or facilities granted to a customer but cannot be recouped by the bank from the customer after all efforts it has been intensified.

1.1              STATEMENT OF THE STUDY  

In the years past it has been observed that undocumented unperfected loans accounted mainly for the couapsed near couapse of many bank both in Nigeria and abroad (First –bank of Nigeria Bi journal  Vo1.  6 1998 December)

1.2       OBJECTIVE OF THE STUDY

             The objectives of this study banks plays important role in the economic life of a country particularly a developing nation through the provision of banking services. As agent of development, they provide loans and advance including a variety of contingent facilities, which could either over be short term or long term.

1.3       RESEARCH QUESTION

The research questions of this study were borne out of the huge debts which come about as a result at bank liability to realize the security pledged due to poor credit documentation and perfection. The questions therefore are:

  1. What are the affects of poor credit documentation on bank credits?
  2. What are the types of acceptance securities and documentation procedure for the purpose of lending?
  3. What are the various types of method adopted for debt recovery?
  4. What should bank do when they notice any sign credit becoming doubtful?

1.4       STATEMENT OF HYPOTHESIS

The research hypothesis employed for verification is stated below:  

HO There are a lot agitation on the significance of good securities to  and     bank  lending prior to this write –up some bank customers complained  that their bank deprived them from financial assistances in time of need for investment purpose due to their inability to procedure reasonable counteracts not minding their wing standing good record  with them,

In the same vein bank also in them bitter experiences in loan   reconciler argued their position even securities are taken for loan and advances.

1.5       DEFINITION OF TERMS      

            This section embraces a brief explanations on specific terms not of common usage that appeared in the body of the work such terms includes.

           Credit this term used for an amount of money granted by bank calendar to a customer (Borrower) in form of loan and advance in order to finance capital.

Perfection: - This is the process of investigating the trade owner of a security, its documentation   and obtaining the governors consent (incase of legal mortgage)

Documentation: - This is the term used in obtaining security in the legal form and the process of recording, perfecting and security.

Security: - In the legal from and the process of recording, perfecting and security.

Security; this term denotes property pledge by a borrower as a means of guarantee for the credit grantee e.g lends shares e.t.c

Default: - This term sued when a borrower fails to fulfill his obligation or when he fails to repay the amount granted to him as credit.

Debenture; it denote an instrument issued by a company or individual acknowledging the indebtedness at a stated time with   interest there of.

Stamping: - This term is used as an evidentiary created on the mortgage created. The mortgage created should be stamped within 30 days of the execution.

Registration: - It can notes that document created must be required incompliance with either case law or statute and is done at corporate affairs commission within 90 days.

Insured: - This terms is used by insurance company which loans, “Risk Against loses”.

Ubcirmaefidel: - This is an insurance term, which explain that every information required must be given is utmost good truth.   

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How To Write Chapter Three Of Your Research Project (Research Methodology)

  • Methodology In Research Paper


    Chapter three of the research project or the research methodology is another significant part of the research project writing. In developing the chapter three of the research project, you state the purpose of research, research method you wish to adopt, the instruments to be used, where you will collect your data, types of data collection, and how you collected it.

    This chapter explains the different methods to be used in the research project. Here you mention the procedures and strategies you will employ in the study such as research design, study design in research, research area (area of the study), the population of the study, etc. You also tell the reader your research design methods, why you chose a particular method, method of analysis, how you planned to analyze your data.

    Your methodology should be written in a simple language such that other researchers can follow the method and arrive at the same conclusion or findings.

    You can choose a survey design when you want to survey a particular location or behavior by administering instruments such as structured questionnaires, interviews, or experimental; if you intend manipulating some variables.

    The purpose of chapter three (research methodology) is to give an experienced investigator enough information to replicate the study. Some supervisors do not understand this and require students to write what is in effect, a textbook.

    A research design is used to structure the research and to show how all of the major parts of the research project, including the sample, measures, and methods of assignment, work together to address the central research questions in the study. The chapter three should begin with a paragraph reiterating the purpose of research. It is very important that before choosing design methods try and ask yourself the following questions: Will I generate enough information that will help me to solve the research problem by adopting this method?

    Method vs Methodology

    I think the most appropriate in methods versus methodology is to think in terms of their inter-connectedness and relationship between both. You should not beging thinking so much about research methods without thinking of developing a research methodology.

    Metodologia or methodology is the consideration of your research objectives and the most effective method and approach to meet those objectives. That is to say that methodology in research paper is the first step in planning a research project work.

    Design Methodology: Methodological Approach

    Example of methodology in research paper, you are attempting to identify the influence of personality on a road accident, you may wish to look at different personality types, you may also look at accident records from the FRSC, you may also wish to look at the personality of drivers that are accident victims, once you adopt this method, you are already doing a survey, and that becomes your metodologia or methodology.

    Your methodology should aim to provide you with the information to allow you to come to some conclusions about the personalities that are susceptible to a road accident or those personality types that are likely to have a road accident.

    The following subjects may or may not be in the order required by a particular institution of higher education, but all of the subjects constitute a defensible in metodologia or methodology chapter.

    Click here to complete this article - How To Write Chapter Three Of Your Research Project (Research Methodology)

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