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EFFECTS OF BANK DISTRESS ON THE SAVING

HABITS OF THE RURAL DWELLERS

A RESEARCH PROJECT

 

PROPOSAL

          This research work examined the “Effects of Bank distress on the saving habit of the rural dwellers”.  It investigated the causes and characteristics of bank distress in the Nigerian economy.

          It is believed that these problems that hinder smooth banking habits in the rural areas will be evaluated to ensure safe and sound banking system.

          Many related literature were reviewed as the researchers collected data for this work.  In remote communities where banking habit  was poorly developed in the  exercise of changing bank notes in 1984 forced people to travel sources of miles to change their money and also made them realize that they need banks around incessant call for extension of bank branches to their areas.

          Each chapter is designed in such a way as to portray the unique qualities and forms of this research work.

          In conclusion, the effects of bank distress on the economy on the otherhand include the erosion of public confidence mostly to the rural dwellers in putting their money in banks.

 

 

TABLE OF CONTENT

CHAPTER ONE

1. Introduction

1.1     Background of study

1.2     Statement of Problem

1.3     Purpose /Objective of Study

1.4     Significance of Study

1.5     Limitation of Study

CHAPTER TWO

1. Review of related literature

CHAPTER THREE

1. Research design and Methodology

3.1     Sources of data (Secondary data only)

3.2     Location of data

3.3     Methods of data collection (literature work only)

CHAPTER FOUR

1. Findings

CHAPTER FIVE

1. Recommendations and conclusions

 

CHAPTER ONE

1. INTRODUCTION

1.1     BACKGROUND OF STUDY

 

          A bank can be defined as an organization whose principal operation are concerned with the accumulation f temporarily idle money of the   general public for the purpose of advancing it to others for expenditures

          John Paget defined a bank as “A corporation or person defined a bank as “A corporation or person(s) who accepts money on current account, pays cheques on such account on demand and collects cheque for customers”.

          Oxford Advanced Learners Dictionary defines a bank as organization or a place that provides a financial service or a place where something a financial service or a place where something is stored ready for use.

          The establishment of modern banking Nigeria dates back to the colonial era when the African Banking Corporation was formed in 1892 to distribute currency notes of Bank of England for the British Treasury subsequent developments were encouraged by colonial trade in the bid to address the credit  needs of indigenous entrepreneurs, Nigerian later ventured into the banking business, initially through private initiatives and later through deliberate government policy.

          The problem of distress in the financial sector, including the outright bank failure, has been observed in Nigeria as far back as 1930 when the first bank failure was reported indeed, between 1930 and 1958 when the Central Bank of Nigeria(CBN) was established, over 21 bank failure were recorded.  However, the degree of intensity and scope of the  distress has never been as serious as it has been observed since June, 1989 when  the government directive to withdraw deposits of government and other public sector  institutions from bank to the CBN exposed the  weak financial condition of most financial  institutions and severity of problem has progressively increased.

          The distress condition has been traced to a wide range of causes, some of which are listed on literature review.  Eventually, when  distress  came into the scene, fears of loosing funds to the banks influence negatively, the banking habit of the rural dwellers.

 

1. STATEMENT OF PROBLEMS

 

With the wave of distress spreading in the finance companies,. Community Banks and primary mortgage institutions, a total of 24 banks were distressed in 1993, as against 10 in 1992, 31 finance houses were classified distressed while  118 were in default of mature obligations, 456 complaints against 136 finance companies for non resumption of matured funds, however, however, total assets and liabilities of 395 finance firms stood at #2.44 billion reported for the proceeding year (1992).

The situation was attributed to the followings:

1. Prevailing economic recession, policy induced shock poor and decorating assets quality arising from large portfolio of non –performing credits, non-maintenance of assets and liabilities.
2. Poor Management bothering on sharp practice and lack of experience, which is the most serious problem associated with bank distress in the  rural areas.
3. Ineffective, inefficient and poor performance of the financial sector on the role of promoting and supporting economic development in the rural areas.

The problem in focus above, triggered off the interest of the researcher to carryout study in the area.

1. PURPOSE / OBJECTIVE OF STUDY

 

Under the purpose of study, which in other words is the objectives of study, the researcher will try to ascertain the following:

1. To find out what distress is all about.
2. To find out how distress has affected banking habits of rural dwellers.
3. To find out causes of Bank Distress.
4. To enlighten the rural dwellers on the need for putting their money in banks.
5. To encourage and ensure effective rural savings.

 

1. SIGNIFICANCE OF STUDY

 

In discussing the effects of bank distress on the saving habit of the rural dwellers, the researcher have some important beneficiaries which include the following:

1. The Banking sector:  From this work, the management should know the damages distress is causing  the conceptions of the rural dwellers towards saving in the bank.  This will make the management set up and enunciate managerial policies that are capable of phasing out the  causes of distress in banks.
2. The Rural Dwellers:  Their benefit is indirect, it doesn’t appeal to them directly since distress affects their saving habits.  Distress in  banks will be eradicated to enable banks to flourish well, so it is that benefit (such as rehabilitating the management so as to restore confidence and safety in areas) that the bank get what will influence them directly.  They will see it themselves, that people  in rural areas, will save their  money in banks and get them anytime they want.  This will allay the fears in rural dwellers and boast their  moral of putting their money in banks.  This is as a result of powerful recommendations and suggestion made in this work.
3. Academic Institution- This work is relevant to institutions and the students in the field of management sciences, especially those in banking and finance in the sense that it will improve their literature review purposes.  Some copies of this work will be kept in the institution library for subsequent researchers for further researchers for further research references.
4. The General Public:  It is also significant to everybody, these include mostly the investors, public libraries and research institution, where copies of this research work will be kept and the general public can go and get copies, read and know what is going on at the rural areas pertaining to their banking habits.
5. Investor:   The study exonerates the fears that investors face by saving in the bank due to distress in banks because the investors would not like to keep the little money they have with the bank.
6. Public Libraries:  This work will increase their stock  of books for research purposes by the researcher.
7. Research Institutes:  It is significant to the researcher institutes because they keep those research work for further research by researchers.

   1. LIMITATIONS OF STUDY

 

The following problems were encountered during this project work.

1. Time Factor:  No time is specially given for the project writing, one will be attending  lectures and  at the same time researching  for the work.  One has a limited time to go to libraries in other to get adequate information which the researcher uses in  his project work and also one does not have enough time to go for market survey if need be.
2. Lack of Research Facilities:  Text books or reference materials which contains the effects bank distress on the saving habits of the rural dwellers were hardly seen or found and  as such, it made it very difficult for the  researcher to get enough facts.
3. Shortage of finance:  Lack of money or  financial problem a times limit researchers from  going to various villages to get facts and  information which may be needed in his work .