ABSTRACT
Nigeria Agricultural Co-operative and Rural Development bank was established to increase Agricultural productivity and also help in rural development. It is the aim of this research work to find out if the bank works according to the inspiration of its establishment. This research work has five chapters. Chapter one contains a general discussion of the Nigerian Agricultural Co-operative and Rural Development Bank as seen by different people. It went further to state the problems to be studied and why this study was carried out, the scope and limitations of the study and research propositions and the definition of terms. A number of past related literatures examined by other researchers were reviewed in chapter two. Chapter three deals with the design of the study, the method used in collection relevant data, how the questionnaires were distributed and the treatment of data. The data gotten form the research survey were analysed and interpreted using tables, charts and histogram. Finally, the summary of findings, recommendation and conclusions made by the researcher are all in chapter five.
TABLE OF CONTENTS
Introduction
Background of the Study
Statement of the Problem
Objectives of the Study
Research Questions
Significance of the Study
Scope and Limitation of the Study
Definition of Terms
Review of Related Literature
Design of the Study
Population of the Study
Sample Size
Development of Research Materials
Questionnaire Design
Method of Data Analysis
Presentation, Analysis and Interpretation of Data
Summary Findings
Recommendation
Conclusion
Bibliography
1.1 GENERAL BACKGROUND OF THE STUDY
A bank is an establishment where money and other valuable are kept in safety. Bank is also described as one of the source from which co-operative organizations and other business enterprises raise capital in the form of loans. The development of co-operatives domestic and international trade is largely dependent on the existence of a strong monetary system in which people have faith and confidence. In modern times, the banking system provides this faith and confidence.
Nigeria Agricultural Co-operative and Rural Development Bank (NACROB) operates in an environment and with this same for economic development. In other words, it is activity of a government employing resources from the environment in other to promote the economic development without the aim of profit motive, on the other hand, the society can be divided into local, national and international environment. Society is made up of many sub-systems that interact with each other and (NACRDB) happens to be one of them.
As competition between Banks geared up, it becomes imperative to turn attention to customers needs and wants which are naturally insatiable. The Nigerian Agricultural Co-operative and Rural Development Bank arose to challenge all other previous Banks. The Nigerian Agricultural Co-operation and Rural Development Bank holds the key to achieving Agricultural goals which is the aim of improving their productivity which consists in determine the needs and wants target of Agriculturalist.
Nigerian Agricultural Co-operative and Rural Development Bank starts with a well defined functions. The bank determines who its market will be, who he hopes to satisfy, even after their work has been defined from Agricultural viewed point and not from that of the bank. The Agricultural oriented seeks to crown the Agriculture as “king” recognizing tht it is the life blood of the bank, and aims but satisfying the desire of the Agriculture and to improve Agricultural production in the country.
Several Authors, Professional and government have stated the need for banking entities to help to improve and increase the Agriculture productivity to the standard requirement through advisory and financial support. The State Co-operative Financial Association (SCFA) had also attributed to improve its productivity in general.
1.2 STATEMENT OF THE PROBLEM
Co-operative bank is in the service industry. The qualities of services rendered by our co-operative banks have been attracting criticisms from the public, farmers, co-operate bodies and people in all works of life. The government functionaries, business, farmers, the media and the general public are all very criticizing the banking services. The complaints range from that location, inefficiency, favouritism, long delays in cashing and making withdrawals, tardiness in attitude loan/credit, unfriendly attitude of co-operative banks workers. Even the government that owns the banks is known to have constantly accused Agric Bank for not identifying enough with the target or nations aspiration towards the effectiveness of the establishment of the Bank.
1.3 OBJECTIVES OF THE STUDY
There have been many criticisms about the co-operative banking in the way they render their services to customers. They do not see the customer as king. The researcher wants to carryout a research on what Nigerian Agricultural Co-operative and Rural Development Bank do and find out if they crown customers’ orientation as take in the condition of services. The researcher also wants to have empirical base, either support all the sources about the poor impression people have on (NACRDB).
Putting into consideration what has been written above, the aim of this study is to take segment of co-Operative Bank services and study the approach of the Bank to their customers.
1.4 RESEARCH QUESTIONS
In the course of this research, the following research questions are used to enable the researcher to examine the significance of the role of Nigerian Agricultural Co-operative and Rural Development Bank to Economic Development in Enugu State.
The research questions are as follows:
1.5 SIGNIFICANCE OF THE STUDY
This project topic is very important to both users and readers of this project. It will give some bank officials who fail in performing their roles an opportunity to put interest towards it, and also those who do not see the importance of Agricultural co-operative banks can be enlightened by the study of this research.
During the research, it will be of great importance to trace the more problems encountered by NACRDB and this will help in bringing out a proper solution to them. It is from this research that other problems in the society will be looked into such as unemployment and will be tackled with.
Finally, students that will read this project will find it important in the future both when working as a banker or a co-operative officer.
1.6 SCOPE AND LIMITATION OF THE STUDY
The scope of this study is very wide, if it has to be carried out in all NACRDB in Nigeria. The study is limited based on the fact that there is no time and material resources to see to the whole nation. This study is limited to (Enugu State) and the findings may not reflect the situation in the whole country. These findings may not be valid for all the banks in Nigeria, but by and large, what happened in Nigerian Agricultural Co-operative and Rural Development Bank (NACRDB) in Enugu State can be said to apply to other banks and co-operative banks in other states.
1.7 DEFINITION OF TERMS
Co-operative: This is working together to people as one in order to achieve a goal.
Cog: This is a word used to qualify the effectiveness of a bank.
Core Problem: These are the major problems that have been hindering the operational effectiveness and efficiency in the NACRDB.
Chiastic Individualism: This is the act of being self-centered.
N.A.C.R.D.B: Nigeria Agricultural Co-operative and Rural Development Bank.
Effective Operation: This is the process whereby planning and organizing are well arranged and controlled.
Effectiveness: This extent to which a manager achieves the output requirement of his position.
Hindering: This is the act of preventing banks doing something.
Banking Strategy: It is a component of corporate. Thus, at banking level, strategy is the tings put on together to achieve some objective.
Strategy Formulation: This is the process of deciding the basic mission of the Bank, the objective that the bank seeks to achieve and the major strategies and policies governing the operation of the bank to achiever the objectives.
Product: A product is something that is viewed as being capable of satisfying needs or wants
Services: These are separately identifiable intangible activities, which provide wants satisfaction when marketed to customers in the co-operative Banks.
Economic Development: This is the process whereby the real income of a country increase over a long period time, subject to the stipulations that the number below object poverty line.
Banking: This is an institution or establishment where money and other valuables are kept safety.
Environment: This is the condition t ht affects the behaviour and development of co-operative.
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