GLOBAL ECONOMIC RECESSION: ITS IMPACT ON THE BANKING INDUSTRY IN NIGERIA
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
The crisis that has rocked the Global economy in the past few year has been nothing but of great interest to governments, experts and scholars in different fields of study worldwide. Several phrases have been used to describe the situation. Indeed, names like; Economic Depression, Global Meltdown, Economic Downturn, Economic Recession, and Economic Crunch and so on are no strangers in both the local and international prints and electronic media and they all tend to describe the same phenomenon – a slowdown in economic activities globally.
Although, it all started in the United State of America with the subprime mortgage crisis, it has continued to spread across Europe and other parts of the world with its adverse consequences. This crisis has led to the collapse of many banks and other international financial institutions and even rendered an entire nation bankrupt.
In Nigeria, the banking sector appears to have weathered the storm due to a number of factors amongst which include the fact that our financial system is not fully integrated into the world’s financial system. This however does not mean that the Nigerian economy is completely immune from the crises.
It is on this premise that the research was conducted, in order to find out the relationship between the present Global Economic Crisis and the performance of Nigerian Banks.
Structured questionnaires containing scale rated options were employed to get facts from a carefully selected audience. The following interested findings emanated from the analyses carried out.
Despite the crises, Nigerian banks still remain the best option to customers for maintaining cash deposits. Services such as: money transfer, customer service, facilitating of contracts through the provision of indemnities and guarantees, and promotion of exchange, through clearing and third party claims settlement are still being performed by the banks effectively and efficiently.
However, banks have become more careful in granting credit facilities which may have made bank credit more difficult to access. These have potent adverse effects on both the yearly results of banks and to SMEs who rely heavily on bank credits.
Some banks may have started showing signs of illiquidity amongst which are the five (5) banks that were recently affected.
Related Project Materials
THE IMPACT OF MODERN OFFICE MACHINES ON SECRETARIES
ABSTRACT
The study examined the impact of modern office machines on secretaries using Ministry of Education Accra Metrop...
ACCOUNTING FOR HEDGE FUND STRATEGIES AND DERIVATIVES
Abstract: ACCOUNTING FOR HEDGE FUND STRATEGIES AND DERIVATIVES
The objectives of this study are to: (1) examine the accounting complexiti...
EFFECTIVENESS OF DEMONSTRATION AND DISCOVERY METHODS IN TEACHING AGRICULTURAL EDUCATION IN COLLEGES OF EDUCATION IN NIGERIA
ABSTRACT
The study was carried out to determine the effectiveness of demonstration and discovery teaching methods in agricultural educati...
THE IMPACT OF SOCIO-ECONOMIC FACTORS ON VOCATIONAL TRAINING ACCESS
ABSTRACT: This study examines the impact of socio-economic factors on access to vocational training, emphasizing the need to understand and mi...
FORENSIC ACCOUNTANT ROLE IN FRAUD DETECTION IN NIGERIA
Abstract
This research work examines the role of the forensic accountant in fraud detection in Nigeria. Forensic accountant plays a signi...
IMPACT OF GULDER ADVERTISEMENT ON THE_SOCIAL_BEHAVIOUR_OF_STUDENTS_OF_ENUGU_STATE_UNIVERSITY_OF_SCIENCE_AND_TECHNOLOGY_ENUGU.
Background of the Study
The Nigeria marketing environment today is one of aggressive and unfriendly competition among both manufacturers...
INTERNATIONAL SECURITY AND GLOBAL TERRORISM IN THE 21ST CENTURY
Terrorists have recourse to violence against the proprietors of the monopoly on the legitimate use of...
THE INFLUENCE OF PERSONAL SELLING TECHNIQUES ON SALES SUCCESS
THE INFLUENCE OF PERSONAL SELLING TECHNIQUES ON SALES SUCCESS
This research explores t...
THE EFFECT OF DEMOGRAPHIC SHIFTS ON FUND ACCOUNTING PRACTICES
Abstract: THE EFFECT OF DEMOGRAPHIC SHIFTS ON FUND ACCOUNTING PRACTICES
This study aims to: (1) investigate the influence of demographic...
AN EVALUATION OF CONFLICT MANAGEMENT STRATEGY AND ITS INFLUENCE ON WORKERS’ PRODUCTIVITY (CASE STUDY OF SOME SELECTED PRIVATE FIRMS IN CALABAR METROPOLIS)
Background of the study
One of management's most essential responsibilities is to create an...
