EFFECT OF COVID-19 ON BANKING SYSTEM IN NIGERIA
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- 1-5 Chapters
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- Simple Percentage
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- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study was carried out on the effect of covid-19 on banking system in Nigeria using access bank Yaba branch Lagos state as case study. To achieve this 4 research questions were formulated. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of the entire Staff of Access bank Yaba branch Lagos state. In determining the sample size, the researcher purposively selected 35 respondents while 30 respondents were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables and percentage. While the hypothesis were tested using Chi-square statistical too. SPSS v23. The result of the findings reveals that; 1.There is a significant effect of Covid-19 on Nigeria Banking sector; The Nigerian Government enacted series of measures on banking sectors among which include; Limit imprudent capital distributions, Liquidity buffers, Loans Restructuring, Review supervisory priorities, Capital buffers and to mention but a few; Banking staffs client customers were complied to covid-19 safety measures and monetary policies in a high extent; The challenges banking sector will likely face evenafter Covid-19 include the following; Inadequacy in customer service, Retrieval of funds allocated for business and no business loans, Inadequate human capital supply and many more. Based on the findings, the researcher recommended that from a prudential perspective, banks should follow certain requirements related to restructured loans, using the flexibility embedded in the regulatory framework and Loan classification and provisioning rules should not be relaxed. The use of capital buffers, liquidity buffers and supervisory approach should come to play.
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