THE EFFECT OF GLOBALIZATION ON BANKING OPERATION IN NIGERIA (A CASE STUDY OF FIRST BANK NIGERIA PLC)
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THE EFFECT OF GLOBALIZATION
ON BANKING OPERATION IN NIGERIA (A CASE STUDY OF
FIRST BANK NIGERIA PLC)
ABSTRACT
The barking industry has witnessed landmark
improvements in series delivery and the practice of banking due to
globalization of banking operation.
Globalization is referred to as the inter-play,
cooperation and integration of various financial systems of the world via
international trade, investment and distribution of vital information aimed
towards the creation harmony in the world market, production process and
general economy development.
Globalization has a lot of impact on the banking
industries.
The unified world economic under has its main
vehicle in international trade finance, of which key facilitator are banks and
other financial institution.
To ascertain the effect of globalization on banking
operation his Nigerian.
Questionnaire was used to get information both staff
and customers of first Bank Plc. Kakuri branch, Kaduna South.
The chi-square statistics techniques was used to
text the hypothesis
The finding of this study reveled that the
globalization has a positive impact on banking operation.
The banking industry cannot afford to ignore the
changes globalization has brought in the banking industry in its operation.
Title Page - - - - - - - - - - i
Declaration - - - - - - - - - - ii
Approval Page - - - - - - - - - iii
Dedication - - - - - - - - - - iv
Acknowledgement - - - - - - - - v
Abstract - - - - - - - - - - vii
Table of Content - - - - - - - - - viii
CHAPTER
ONE
1.0 Introduction - - - - - - - - - 1
1.1 Background of the Study - - - - - - -
3
1.2 Statement of the Problem - - - - - - 4
1.3
Purpose of the Study - - - - - - - 5
1.4 Significance of the
Study - - - - - - - 5
1.5 Research Questions - - - - - - - 6
1.6 Statement of Hypothesis - - - - - - 6
1.7 Delimitation of the
Study - - - - - - - 6
1.7 Definition of Terms - - - - - - - - 7
CHAPTER
TWO
2.0 Introduction - - - - - - - - -
8
2.1 Historical of the Bank - - - - - - - 10
2.2 Theoretical Framework - - - - - - - 11
2.3 Globalization of Banking
Industry - - - - - 14
2.4 The Linkage between
Banking Operation and Globalization - 19
2.5 Effect of Globalization on
Banking Operation/Nigeria Experience 23
2.6 The Challenge in
Globalization of Banking Operation - - 28
CHAPTER
THREE
3.0 Introduction - - - - - - - - - 31
3.1 Area of Study - - - - - - - - 31
3.2 Research Design - -- - - - - - - 31
3.3 Population of the Study - - - - - - - 32
3.4 Sample and Sampling
Techniques - - - - - 32
3.5 Instruments for Data
Collection - - - - - - 33
3.6 Administration of the
Instrument - - - - - 35
3.7 Method of Data Analysis
and Presentation - - - - 36
CHAPTER
FOUR
4.0 Introduction - - - - - - - - - 38
4.1 Presentation and Data
Analysis - - - - - 38
4.2 Hypothesis Testing - - - - - - - - 48
4.3 Interpretation of Result - - - - - - - 49
4.4 Findings of the Study - - - - - - - 51
CHAPTER
FIVE
5.0 Summary, Conclusion and
Recommendation - - 53
5.1 Summary - - - - - - - - 53
5.2 Conclusion - - - - - - - - 55
5.3 Recommendation - - - - - - - 55
Bibliography
Appendix
CHAPTER
ONE
1.0
INTRODUCTION
Banking
in Nigeria
The
era of new generation bank brought into the banking industry competition and
need to provide quality services to the banking public.
This
brought about the need for some form of automated system. Kyari (2002), acknowledged this fact when he admitted that banks
began to invest in computer for basic office in automation and processing, and
then later extended to provision of banking services.
This
era also brought about massive installation of computer system and the
introduction of the first set of electronic banking system devices such as
automated teller, machine (ATM) to
the banking public with the establishment of more bank in the early 1990s that
led to the integration of banking system and ledger bank were replaced by
computing system.
The
growing need for better services made it mandatory for banking to develop
faster settlements among banks that lead to the funding of Nigerian
inter-settlement scheme- granting owned by banks.
The
central bank in response to this also began the computerization of its system
and processes. The introduction of the Magnetic Ink Character- Recording (MICR) check in the number of days it takes
to clear a cheque through the Nigerian banking system.
The Magnetic
Ink Character Recording (MICR) was
yet to be very successful through by middle of 1990s, most banks had introduced
some forms of automation or computerization in their operation.
Before
financial globalization become popular, financial liberalization efficiency in
the financial sector, many African countries embarked on financial
liberalization reforms as part of their recommend.
Structural Adjustment Programme:
The
crucial message of the financial liberalization, thesis (Mekinnum 1973), show that it is lack of competition that bring
inefficiency to this sector, interest rate liberalization is a first step, but
it is recognized that this alone is not likely to generate competition in the
market because of the already oligopolistic nature of it.
Consequently,
not only is there a need to increase the number of players in this market for
which a country may be required to go beyond its own domestic boundary.
To
increase the number of players there is need to remove entry restrictions, so
that non- financial intermediaries as well as foreign banks can enter the
market easily. In order to top a large post of savings, there is a need, not
only to remove control, but also to relax laws relating to takeover and merging
activities.
This
implies that there is need to liberalize the external sector of the bank
sector. Forced with the gravity of financial crises that occurred in several
countries between 1994 and 2002, a number of questions have been raised regarding
the underlying basis of financial globalization especially cross-boarder
capital movement.
1.1 BACKGROUND OF THE STUDY
The
background of this study is to evaluate the effect of globalization in banking
operation in Nigeria with particular reference to First Bank Nigeria Plc,
Kaduna, Kakuri branch Kaduna South.
The
specific objectives of this study are as follows:
1. Io
assess the extent at which globalization has influenced services delivery in
the banking sector in Nigeria
2. To
examine how globalization has influenced banking operations in Nigeria
3. To
examine the extent at which globalization has influenced the management of
banking industry in Nigeria
1.2 STATEMENT OF THE PROBLEM
The
provision of quality services has been the major problem facing the Nigerian banking
system.
The
Nigerian banking customers are becoming more demanding in terms of quality
services. Some of the problems facing the Nigerian banking operations are as
follows:
I.
Time spent when collecting cash from the
bank.
II.
It takes some days before funds can be
transferred from branch of the bank to another.
III.
It takes quite some times before cheque are
being cleared.
IV.
Value data is not efficient in the banking
sector.
All
these problems need to be addressed so that banking operations could be more,
efficient.
1.3 PURPOSE OF THE STUDY
The
purpose of the study is to evaluate the effect of globalization on our banking
operation in Nigeria Kaduna
1.4 SIGNIFICANCE OF THE STUDY
The
study shall serve as a reference point to students of banking and finance, bank
practitioners and policy formulation in banking industry.
Through
this study the inefficiency that exist in the banking operation are thrown
opened to the public and researchers in the discipline. It also helps to
understand how globalization could bring efficiency in services delivery to
customers through the introduction of modern technology into banking operations.
Through
the study, one shall be able to know why First Bank Nigeria Plc, is performing
better than some other Banks in Nigeria
1.5 RESEARCH QUESTIONS
The
study used primary data that were generated through the administration of
questionnaires and oral interviews.
Sample
population from staffs and customers of First Bank Nigeria Plc.
The
statistical technique used in the study is chi-square (X2) and t-test was used.
1.6 STATEMENT OF HYPOTHESIS
H0: Globalization
of banking operations has not improved services delivery of First Bank Nigeria
Plc.
H1:
Globalization of banking operation has improved services delivery of First Bank
Nigeria Plc.
1.7 DELIMITATION OR SCOPE OF THE STUDY
The
scope of this study is that, it focused on the effect of globalization on
banking operation in Nigeria
The
study specifically examines the effect of globalization on First Bank Nigeria
Plc.
The
limitation of the study is that the researcher was not been able to visit all
branches of the bank in the country due to financial constraints and time
availability for the study.
1.8 DEFINITION OF TERMS
Ø Banking: It
is a bank business whose principle operations are concerned with the
accumulation of the temporary, idle money of the public for advancing some to
others for expenditure.
Ø Bank Transfer: Is
a method of making payments in which payment made at any branch of any bank for
the account of a payee with an account at any branch of the same bank or
another bank.
Ø Globalization: Is
the integration of trade relation and production, the decision across the globe
by economic agents who employ investment capital and technology around to take
advantage of environments where there is competition and which can manifest to
a higher return.
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