THE EFFECT OF CREDIT ADMINISTRATION AND CONTROL ON THE DEVELOPMENT OF COOPERATIVE SOCIETIES IN NIGERIA

THE EFFECT OF CREDIT ADMINISTRATION AND CONTROL ON THE DEVELOPMENT OF COOPERATIVE SOCIETIES IN NIGERIA 

Background of the Study  

This research work focuses on the effects of credit administration and control on the development of cooperative society. Credit administration and control functions as a good instrument that brings about rapid development in the cooperative  sector. It can be regarded as the essence of   financial  instruction in an  economy, therefore the formulation  and implementation  of sound and  solid credit polices  and  control are among the  most crucial responsibilities of the management of an organization. Among the most essential functions of credit cooperative is to provide loans to members and ensure the repayment of the loans given to them,  it is  therefore important to develop policies that will ensure the security of loans extended to members.

Due to  lack of credit administration and control, credit facilities made available is spread among members of the cooperative societies and considered more  of gift than loans to be paid within a specific period of time and therefore cooperatives find themselves cripple economically.

The implementation of credit administration and control is a necessary condition of the society so as to  achieve its objectives, to serve the  members  in an efficient manner and  more importantly ensure safety of funds for  continuity  and development  of the society.

According to Iyowu (1985) an articulate credit management policy  not only  seeks  to  balance profit and liquidity. It expects to   determine whom credit must be  granted to how much to be  granted, for how long and to ensure successful recovery. The achievement of an efficient credit administration and control  entails  an  elements of a subjective management.

This research work will look at the role of credit administration and control, the disbursement of loans and its recovery credit  administration and control and how it can be utilized for the development of the cooperative societies.

1.2   Statement of The Problem The primary aim in a cooperative society is to improve the economic and social position  of the  members  by extending credit facilities  to them. It can either be short term or long term loans. It is important that credit usage be productive which will enable the borrower to earn enough to repay the principal and the interest and also realize a surplus from the undertaking.

Cooperative societies are not making significant impact in the  growth and development despite some level of credit administration and control, problems are faced when  there are  no  checks and balances and therefore posses danger to it’s continued existence and as such will not have achieved the objectives for which it was initially established.

Due to this shortcoming and  more,  like lack  of experts to handle the finance of the society, mismanagement of funds by officials, poor  record keeping which makes  most members not to get   their  contributions as at when  due,  which has led to loss of confidence, withdrawal of the members   and consequently loss of contribution to the   societies.

Furthermore, in most cases, the members  savings are embezzled or misappropriated. As a result societies do not live long due to dishonesty in  handling funds.

Providing members with easy access to credit facilities  being among the aims and objectives of most cooperative societies cannot be realized if such credit given to the members are not efficiently and effectively administered to ensure productive utilization and ability of the members to repay loans extended to them. This can guarantee continued existence of the  cooperative society.

It is against this background that this study will venture into finding out the effects of credit administration and control in the study areas. 1.3   Objectives of the Study The following are the  objectives of  this  study                

To find out the role of credit  administration and control in  improving cooperative societies To determine the extent to which cooperative societies recover loan disbursement to members. To find out problems associated with credit administration and control. To identify problems and proffer possible solutions.

1.4   Significance of the Study This study is designed to help   cooperative societies have a better  understanding of the role credit administration and control plays in the development of cooperative societies. The research will also contribute in enhancing appropriate measures  from cooperative societies which can improve the loan policies and securities and  in extension encourage credit cooperation.

To government, it may also contribute in enhancing appropriate  measure from the government to  improve and   encourage  prospects of cooperative societies in the rural and urban  areas as it will instil hope in the minds of the members and potential members.

Scholars, researchers and  incoming student will also benefits  from this research work as it  will serve as reference to them.

1.5   Research Questions The following research questions will guide this study.

what  role does credit administration and control play in improving cooperative societies? To what  extent do cooperative societies recover loans disbursement to  members? What are the problem of cooperative societies in connection with credit administration and  control?                                  What  are the possible  solutions to ensure the success  of credit administration and control in the  development of cooperative societies?

1.6   Scope of the  Study                                                            The scope of the research is aimed at examining the effects of credit administration and control on the development of cooperative societies with reference to Arewa multipurpose cooperative society and National Board for Technical Education investment and credit cooperative society Kaduna.

1.7   Definition Of Terms                                                    All the terms  below  will  reflect the  operational meaning as used  in this project study.

Cooperative society: According to ICA is defined as an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspiration through a jointly owned and democratically controlled enterprise. Cooperation: the association of  two or more people who voluntarily come  together in order to achieve  target objectives. Credit: loans of  money or equipment extended to members to be used for  productive  purposes and with the agreement of repaying same amount with  the accured interest at the future date. Control: the process of ensuring that actual activities conform to planning activities. Policy: A standing plan that establishes general guidelines for decision making. Credit administration: Activities that are   done in order to plan, organize, extend and recover loan extended to members of the cooperative societies. 

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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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