...BANKING REFORMS IN NIGERIA AND ITS IMPLICATION FOR ECONOMIC DEVELOPMENT A CASE STUDY OF ZENITH BANK PLC CHAPTER ONE INTRODUCTION 1.1 Background of the Study For more than two decades after independence, the Nigerian financial system was repressed, as evidenced by ceilings on interest rates and credit expansion, selective credit policies, high reserve requirements, and restriction on entry into the banking industry. This situation inhibited the functioning of the financial system and especially constrained its ability to mobilize savings and facilitate productive investment. In Nigeria, we have eighty-nine banks many of which have a capital base of less than US$ 10 million. This section will set out some of the factors that necessitated the need for major banking sector reforms. Through financial intermediation, banks are supposed to facilitate capital formation and promote economic growth by operating in a safe and sound manner. In the past, some financial institutions showed glaring inability to maintain an efficient flow of funds within the economic system. The sharp practices of some Banks together with the unsoundness of others led to a wide spread of financial sector distress and losses to depositors. It has been seen as a paradox that despite the size of the economy, the country’s reserves are still deposited in foreign Banks due to the low capacity of the local Banks. The sector has been highly concentrated structurally as the ten largest Banks account for...
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...Pros and Cons CMPT 641 Information Technology for Managers Abstract. Outsourcing can be defined as the transfer of any business function from one organization entity to another and its increasing acceptance as an alternative to in-house IT development and the use of IT services, propelled IT outsourcing to be a significant component of an organization's IT strategy. This paper aims at critically discussing the strengths and weaknesses of the IT outsourcing function on the banking industry, and the findings will enable the CEO, CFO and COO of bank BCIB to make a decision on whether to fully outsource the IT infrastructure of their bank or otherwise. A detailed background of the importance of IT on the banking industry over the years is given to illustrate the magnitude of the decision to be made for BCIB bank, and finally a personal rationale on the whole project of outsourcing IT for a bank, exploring the underlying challenges and concerns, and how to overcome them in order to fully benefit from the function of outsourcing IT. Introduction and Background. Information Technology has become a key element in economic development and a backbone of knowledge-based economies in terms of operations, quality delivery of services and productivity of services (Oluwatolani, Joshua & Philip, 2011). Over the years, knowledge-based innovation has proved to be one of the leading competition for the dynamic economy. Organizations, industries and large corporations have embarked...
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...INTERNATIONAL ECONOMICS THEMES AND ISSUES MMN222154-13- AB THE IMPACT OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH IN NIGERIA BY AZUMONYE M. CHUKWUEMEKE S1344407 INTRODUCTION Over the years, the debate on the role of foreign direct investment (FDI) as a factor that induces economic growth has received the attention of policy makers, researchers and international organizations (Tumala et al, 2011). There is no denying that most countries strive to attract foreign direct investment (FD1) because of its putative advantages as a tool of economic development. Therefore, this essay seeks to ascertain the extent at which growth in foreign direct investments (FDIs) influences economic growth in Nigeria in the long-run and investigated the empirical relationship between FDI and privatization. Nigeria, after independence began with an economy that was mostly driven by the public sector. According to Tumala et al (2007), Nigerian Enterprises Promotion Decree (NEPD) of 1972 imposed several restrictions on FDI entry, thereby earning the tag „the indigenization policy‟. It reserved 22 business activities exclusively for Nigerians, including advertising, gaming, electronics manufacturing, basic manufacturing, road transport, bus and taxi services, the media and retailing and personal services. Foreign investment was permitted up to 60 per cent ownership and provided that the proposed enterprise had, based on 1972 data, share capital of N200, 000 ($300,000) or turnover...
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...is usually analyzed from an economic or technological perception, that is the internet, international markets and global institutions such as IMF, WTO cable news etc. The impact of globalization on the economies of countries across the world whether developed or developing cannot be over emphasized. An important ingredient in globalization is trade liberalization. . Economic liberalization is the process of achieving unobstructed economic activities, it seeks to remove all hindrances to trade, production and investment, whiles emphasizing on the freedom of economic activities (Onyekpe, 2001:52, Akinboye, 2008). In this light I will want to associate myself with the argument brought forward by Peter Mandelson in support of globalization. Globalization can be described as a “double edged sword”. Countries and companies which are prepared can take advantage of the opportunities that it brings on the other hand, globalization is not ready to “forgive” countries or companies who are not prepared to take the dynamics of globalization. Even the developed countries in Europe and the USA cannot afford to be complacent in the face of globalization. Peter Mandelson has done a good job in explaining both positive and negative effects of globalization in his defense of globalization. Peter Mandelson analyzed the impact of globalization under six headings namely, the openness boom, the interlinked world, the challenges of openness, better globalization, the return of the state and the importance...
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...CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF STUDY Nigeria banking sector has experienced a boom-and-burst cycle in the past 20-25 years. After the implementation of the structural adjustment programme (SAP) in 1986 and de-regulation of the financial sector, new banks proliferated mainly driven by attractive arbitrage opportunities in the foreign exchange market (Heiko 2007), but prior to the de-regulation period, financial intermediation never took off and even declined in the1980’s and 1990’s (Capirio and Kligbiel). The sector was highly oligopolistic with remarkable features of market concentration and leadership. Lemo noted that there are ten banks that control more than 50% of the aggregate assets of the banking sector, more than 51% of the aggregate deposits liabilities and more than 45%of the aggregate credits. The sector was characterized by small scale banks with high overheads; low capital base averaging less than $10 million; heavy reliance on the government patronage and loss making. Nigeria‘s banking sector was still characterized by a high degree of fragmentation and low level of financial intermediation up to 2004. This research work is motivated by the need to look into the Central bank (CBN)’s recent reform (consolidation) that employed certain measures to strengthen the Nigeria banking system by drastically increasing the minimum capital requirement from N2 million to N25 billion ($190 million-US). Through review of relevant literatures, analysis...
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...Perspective of Nigerian Banks Technology can be referred to as the application of knowledge for the execution of a given task. It entails skills and processes necessary for carrying out activities (works) in a given context. While ICT encompasses computer systems, telecommunication, networks, and multimedia applications (Frenzel, 1996). It came into use in the late 1980’s replacing earlier terms like Electronic Data Processing (EDP), Management Information System (MIS), although the latter terms are still in use (Frenzel, 1996). ICT has transcended the role of support services or only electronic data processing; its fields of applications are somewhat global and unlimited. Its devices especially the Internet through the World Wide Web (www) and modern computer email facilities have further strengthened early innovations like the telephone and fax. Other ICT devices include data recognition equipment, factory automation hardware and services, tele-computing and teleconferences using real time and online system (Adeoti, 2005). It is a concept that is having a remarkable effect on almost entire aspects of the human endavours. This connotes that it involves the application of principles to engage physical component in achieving an intended goal. The convergence of computer and telecommunication after about four decades of applying computers to routine data processing, mainly in information storage and retrieval, has created a new development where information has become the engine of...
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...A MARKETING CASE STUDY ON AXIS COMMUNICATIONS BY JOHN OLUGBENGA ADEGBOYE 08032004784 TABLE OF CONTENTS 1. INTRODUCTION……………………………………………………………………………………………………….3 2. SITUATION ANALYSIS………………………………………………………………………………………………..4 3.1 External Analysis.....................................................................................................4 3.2 Internal Analysis......................................................................................................8 3.3 SWOT Analysis.........................................................................................................9 3. 3.1 The New Product...................................................................................................12 3.2 Marketing Objectives.............................................................................................12 4. MARKETING PLAN........................................................................................................14 4.1 Market Segmentation.............................................................................................14 4.2 Target Market.........................................................................................................17 4.3 Positioning and Differentiation..............................................................................17 4.4 Marketing Mix........................................
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...ing3/24/2014 A Marketing Case Study on Axis Communications A MARKETING CASE STUDY ON AXIS COMMUNICATIONS BY JOHN OLUGBENGA ADEGBOYE 08032004784 TABLE OF CONTENTS 1. INTRODUCTION……………………………………………………………………………………………………….3 2. SITUATION ANALYSIS………………………………………………………………………………………………..4 3.1 External Analysis.....................................................................................................4 3.2 Internal Analysis......................................................................................................8 3.3 SWOT Analysis.........................................................................................................9 3. 3.1 The New Product...................................................................................................12 3.2 Marketing Objectives.............................................................................................12 4. MARKETING PLAN........................................................................................................14 4.1 Market Segmentation.............................................................................................14 4.2 Target Market.........................................................................................................17 4.3 Positioning and Differentiation..............................................................................17 4.4 Marketing Mix...................................................................................................
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...government patronage and loss making. Nigeria’s banking sector was still characterized by a high degree of fragmentation and low levels of financial intermediation up until 2004. In the light of the foregoing, banks are compelled by the Central Bank of Nigeria to raise their capital base from N2 billion to 25 billion on or before 31st December, 2005. Most banks resorted to mergers and acquisition as a survival strategy, which saw a reduction in the number of banks from 89 to 25. This study contributes to the concept of bank recapitalization by critically examining the impact of bank consolidation on the performance of banks using a sample of randomly selected Nigerian banks. It is the intention of the researcher to give more validity to empirical evidence that have been obtained by previous researchers on the subject matter. Relevance of the study The earliest set of studies evaluates the effects of bank consolidation through mergers and acquisitions comparing pre- and post- merger performance by measuring performance using either accounting or productive efficiency indicators.The results from both indicators have varied and at sometimes been contradictory. This can be explained by performance-influencing variables like size, brand name, diversification and cost reduction, there is still no reconciliation between these indicators. I intend to contribute to the determinants of bank performance by evaluating the possible performance impact of bank consolidation on banks. Consolidation...
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...AIRWAYS ENUGU ) 2 THE IMPACT OF NEWS COMMENTARIES ON RADIO LISTENERS (A CASE STUDY OF FEDERAL RADIO CORPORATION OF NIGERIA ENUGU) 3 HAZARDS OF JOURNALISM PROFESSION UNDER MILITARY REGIME (FROM 1993 – 1998) 4 MASS MEDIA COVERAGE OF RURAL DEVELOPMENT NEWS. A CONTENT ANALYTICAL STUDY OF THE GUARDIAN, DAILY CHAMPION, PUNCH AND DAILY STAR NEWSPAPERS. 5 THE ROLE OF MODERN TECHNOLOGY IN ACHIEVING COMMUNICATION EFFICIENCY IN NIGERIA 6 INFORMATION TECHNOLOGY AND THE CHANGING ROLE OF MASS MEDIA IN NIGERIA A DISCOURSE ON THE IMPACT OF INFORMATION TECHNOLOGY AND MEDIA DEVELOPMENT IN NIGERIA 7 THE ROLE OF THE BROADCASTING MEDIA IN UPLIFTING THE EDUCATIONAL SYSTEM OF ENUGU STATE. (A CASE STUDY OF ENUGU METROPOLIS ) 8 A COMPARATIVE STUDY ON “THE IMPORTANCE OF PIDGIN ENGLISH IN BROADCASTING” (A CASE STUDY OF THE ESBS ENUGU 9 THE IMPACT OF TESTIMONIAL USE ON ADVERTISING EFFECTIVENESS (A CASE STUDY OF KANU NWANKWO IN PEAR MILK ADVERTISMENT) 10 AN A****SMENT OF THE EFFECTS OF TELEVISION PROGRAMMES ON YOUTHS. (A CASE STUDY OF CAMPUS CIRCUIT ON MINAJ BROADCAST INTERNATIONAL) 11 THE ROLE OF RADIO IN DEMOCRATIC SOCIETY (A CASE STUDY OF ENUGU NORTH LOCAL GOVERNMENT AREA) 12 THE ROLE OF PUBLIC RELATIONS IN ENHANCING CUSTOMERS SATISFACTION IN A GOVERNMENT PERASTATTALS 13 THE ROLE OF PUBLIC RELATIONS IN ENHANCING CUSTOMERS SATISFACTION IN A GOVERNMENT PERASTATTALS 14 THE ROLE OF RADIO IN MOBILIZING WOMEN IN POLITICS IN ENUGU URBAN AREAS 15 THE IMPACT OF WOMEN IN ADVERTISEMENTS ...
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...Introduction The objective of this research is to determine the convergence, divergence and cross-vergence of culture in IHRM, by looking at recruitment and selection in Nigeria as well as the Pension Scheme. It will also focus on the political, economic, social, technical and legal environment a number of factors that influence human resource policies and practice in Nigeria. International human resource management(IHRM) is the term used to refer to the instance where an organisation`s HRM entails managing employees in more than one nation .(Ngo et al 1998 cited in Lloyd and Hartel ,2004, pg60) .According to( Dowling et al, 2008) IHRM covers a wide range of human resource issues faces MNCs in different parts of their organizations additionally ,we include comparative analysis of HRM in different countries.(Capelli and Croker, 1996) argues that international human resource practices is a crucial factor in creating unique organisational competences ,in turn help companies differentiate their products and services and thus build competitive advantage. International HRM refers to relatively separate areas of practice and research (Dowling and Welch ,2004) HRM policies and practices are carried out within an economic, social, political and legal environment .Thus there is a need for considerable historical and cultural insights into local conditions to understand the processes, philosophies and problems of national models of HRM (Hofstede, 1993) .The indigenous Nigeria system is...
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...OLDSTONE & GREEN CORPORATE PRESENTATION INTELLIGENCE INSIGHT FACT INVESTIGATION DISCRETION AFRICA FOCUSED 2 LocalKnowledge www.oldstoneandgreen.com ABOUT US 3 Oldstone & Green Limited (“O & G”) is a Nigeria based independent Geopolitical Risk Consultancy, Research and Advisory firm, servicing an international client base and providing ¨ ¨ ¨ ¨ Our Ethos ¨ Insight ¨ Fact ¨ Investigation ¨ Discretion ¨ Intelligence Why Us? Our strong industry expertise, research knowhow and keen local knowledge of business, politics and markets makes us the preferred firm for organisations seeking to understand, compete and grow in Sub-Saharan Africa, with particular focus on Nigeria. O & G maximizes its exclusive relationship with well-placed, high profile political, diplomatic, business and economic contacts to deliver intelligent, informed and reliable facts, faster and better using our robust sources in major corporate establishments and government ministries, agencies, commissions and parestatals in Nigeria. www.oldstoneandgreen.com Geopolitical Risk Analysis Due Diligence Influence and Relationship Mapping Market Entry and Intelligence We are subcontractors to major London and US based risk consultancies and our clients include, global financial institutions, law firms, oil, gas and extractive companies, manufacturers, power and energy providers, retail and professional service firms and high-net-worth individuals. AFRICA FOCUSED 4 LocalKnowledge ...
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...CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF THE STUDY Electronic banking has long been recognized to play an important role in economic development on the basis of their ability to create liquidity in the economy through financial intermediation between savers and borrowers. It also offers financial services and products that accelerate settlement of transactions and in the process reduce cash intensity in the financial system, encourage banking culture, and catalyses economic growth. However, for the effective functioning of the financial system, the payment systems must be safe and efficient; otherwise they can be a channel for the transmission of disturbances from one part of the economy or financial system to others. This is why central bank have been active in promoting sound and efficient payments system and in seeking the means to reduce risks associated with the system. Nigeria historically operated a cash-driven economy particularly in the consumer sector, however the system has witnessed improvements over the years, and particular in recent times has moved from its rudimentary level of the early years of banking business to the current state of sophistication comparable to other economies at the same level of development. One important reason for financial liberalization and deregulation is the need to develop a good payment system which promotes an appropriate mechanism for efficiency in mobilizing and allocating financial resources in the economy. The payment...
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...Economic and Financial Outlook in 2015 External Shocks Creating New Opportunities FSDH Research January 2015 Economic and Financial Outlook: 2015-2019 1.0 Global Economic Growth: According to the World Economic Outlook (WEO) Update of the International Monetary Fund (IMF), January 2015 Edition, the global economic growth is forecast at 3.5% and 3.7%, for 2015 and 2016 respectively. The forecasts were reviewed downward by 0.3% The IMF forecasts a global economic growth of 3.5% and 3.7% for 2015 and 2016 respectively. relative to the October 2014 WEO. The revisions reflect a reassessment of prospects in China, Russia, the Euro-area, and Japan as well as the weaker activity in some major oil exporters because of the sharp drop in oil prices. The United States (U.S.) is the only major economy for which growth projections have been raised upward. The IMF added that the global growth will receive a boost from the lower oil prices. However, this boost is projected to be more than offset by the negative factors, including investment weakness as adjustment to diminished expectations about medium-term growth continues in many advanced and emerging market economies. The U.S. is expected to grow by 3.6% in 2015 and slow down to 3.3% in 2016, supported by domestic demand due to lower oil prices, more moderate fiscal adjustment, and The U.S. is expected to grow by 3.6% in 2015 and slow down to 3.3% in 2016. continued support from an accommodative monetary policy stance...
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...PERSONALITY FACTOR IN THE CONDUCT OF NIGERIA’S DIPLOMACY: A COMPARATIVE STUDY OF THE OLUSEGUN OBASANJO AND MUSA YAR’ADUA ADMINISTRATIONS, 1999-2000 Proposal submitted by Oluwatoyin Alabi to DR. David Aworawo, of the Post Graduate School, University of Lagos. In partial fulfillment of the Requirements for the award of the Degree: Masters of International Relations and Strategic Studies. (MISS) AUGUST 2012 PROPOSAL This work, adopting a multidisciplinary approach, seeks to analyse aspects of Nigeria’s diplomacy, specifically the effect of the leader’s personality on the conduct of Nigeria’s external relations. To effectively do this, the work shall comparatively assess Nigeria’s diplomacy under Presidents Obasanjo and Yar'Adua from 1999-2010. Seeking to see the effect their personality type had on the manner, trends and approach to Nigeria’s diplomacy during the period. On record President Obasanjo undertook a shuttle diplomatic effort across the globe especially between 1999 and 2002, this is said to have reintegrated Nigeria into the comity of Nations, where she was previously a pariah. How did his personality affect these efforts? Was his personality added value or reduced value? At the point of his death President Yar’Adua was ECOWAS chairman, previously in 2009 he attended the G20 meeting in Germany, visited President George Bush at the start of his term and other diplomatic engagements. How did his personality affect all these? On the whole how did the respective...
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