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REASONS FOR THE PREMATURE WINDING-UP OF CO-OPERATIVE ENTERPRISES IN NIGERIA (A CASE STUDY OF ENUGU NORTH LOCAL GOVERNMENT AREA)

 

TABLE OF CONTENTS

CHAPTER  ONE:    INTRODUCTION

1.1     Background of the Study

1.2     Statement of Problem

1.3     Objective of the Study

1.4     Significance of the Study

1.5     Scope and Limitation

1.6     Definition of  Terms

1.7     Research Questions

CHAPTER TWO:    LITERATURE REVIEW

2.1     Meaning of Co-operatives

2.2     Brief History of Co-operative

2.3     Historical Development of Co-operative Enterprises

2.4     Forms of Co-operative Organisation

2.5     Definition of Winding-Up Liquidation of Dissolution

2.6     Types of Winding-Up or Liquidation

2.7     Reasons for Winding-Up of Liquidation

2.8     Statutory Provision

2.9     Powers of the Liquidation

CHAPTER THREE:    RESEARCH DESIGN AND METHODOLOGY

3.1     Sources of Data

3.2     Primary Sources

3.3     Secondary Sources

3.4     Research Instrument

3.5     Analysis of Data

 

CHAPTER FOUR:       DATA PRESENTATION AND INTERPRETATION

4.1     Data Analysis

CHAPTER FIVE:     SUMMARY AND CONCLUSION

5.1     Findings

5.2     Recommendation

5.3     Conclusion

Bibliography

 

ABSTRACT

This study is undertaken to examine the reasons and problem associated with the premature winding .up or dissolution or liquidation of co-operative s society in Nigeria which has had a lot of effects from one region or state depending on the nature of things.  

With particular interest and reference based on Nigeria with a case study of Enugu North Local Government Area. The researcher based the objectives on trying to create and understand what co-operative enterprises, frame and outline for effective organization of co-operative enterprises, frame and outline for effective organization of co-operative enterprises to prevent morbornnes and leading to liquidation and suggest solution to reasons and problems association with the premature winding up of co-operative enterprises in Nigeria.

 

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

The reasons for the premature liquidation of some co-operative societies are universal but in different levels based on its effect from one country to another. These variation may come up from geographical regions or states depending on the following:

1. The level of literacy and intellectual ability of majority of the citizens.
2. The level of economic and institutional development.
3. The circumstances of the area, especially of the extent of political leadership.
4. The general acceptance of co-operative as a tool and means to a valuable and precise economic growth as well as social growth.

In some countries, co-operative societies stand a good ground and yielding positive result because of their understanding and acceptance of co-operative enterprises as a step to economic and social development.

In Nigeria, it is not the classical Rockdale type that is carried out as autonomous, independent of government, self managed and self controlled. Rather it belongs to the government through its co-operative department. This pose a lot of reasons why some co-operative societies are liquidated. Although government uses it as an instrument in promoting the welfare of its citizens.

 

1.2     STATEMENT OF PROBLEM

The reasons and problems associated with the premature liquidation of some co-operative societies in Nigeria. These problems have caused a lot of set backs in the economic and social development of Nigeria and its citizens in particular areas something should be done by government and individuals to stop the falling standard of co-operative societies in Nigeria.

 

1.3     OBJECTIVE OF THE STUDY

The general objective of this study is to critically highlight the reasons and problems associated with the pre-mature liquidation or winding-up of co-operative societies with special reference to Enugu State Local Government Area.

These Objectives Include:

1. To create and understand what co-operative societies are.
2. To show the relevance of co-operative societies in Nigeria economic development.
3. To suggest solutions to the problems associated with the pre-mature liquidation of some co-operative societies in Nigeria.
4. To frame an outline for effective management of co-operative societies.

 

1.4     SIGNIFICANCE OF THE STUDY

The usefulness of this study is to expose how important co-operative societies are to the individual, community, government and to the nation at large. Therefore, it these reasons and problems associated with the pre-mature liquidation of some co-operative societies are carefully taken care of the individuals communities and the government with experience well develop co-operative movement in Nigeria.

 

1.5     SCOPE AND LIMITATION OF THE STUDY

The area of this study is Enugu North Local Government are of Enugu State. The researcher examined the reasons why some pre-mature co-operative societies are wind and problems associated with the premature liquidation.

In carrying out this work, the researcher faced some various problems which could have affected this research these problems include time factors, inadequate of up to date. Also, non-co-operative attitude of some co-operative officials in getting vital information about their societies. Finance was a problem which almost hinded the completion of this research. It limited traveling out to some specifically sample co-operative societies.

 

1.6     DEFINITION OF TERMS

Some technical terms were used during this study. The terms includes the following:

a)      Pre-mature Co-operative Society:   This is a short-life co-operative society. Thus not up to standard provided by law.

b)      Winding-Up:       This is a situation, where by something or business is no longer in exists, death, dissolution or liquidation.

c)       Autonomous:      This explains the form of business co-operatives are, terming them as a self help organization.

d)      Arbitration:         This is an instrument or a way of setting dispute by the co-operative inspector or assistant. The staff appointed by the Director, settles dispute answering in co-operative outside the court of law.

e)       Management:      This is a way working within and through people in an organization to achieve a set goal or objectives. Thus, applied to co-operative societies.

 

1.7     RESEARCH QUESTION

1. What is co-operative
2. How did co-operative came into Nigeria
3. What is winding-up
4. What are the reasons for winding up of co-operative society
5. Who is a liquidator
6. What are the powers rested on a liquidator
7. What are the types of liquidation.