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THE ROLE OF COMMERCIAL BANKS
IN THE DEVELOPMENT OF SMALL – SCALE ENTERPRISES
ABSTRACT
In the last fifteen years Nigeria has been experiencing the most serious
small – scale crisis. The first major factor that put the country’s small –
scale on the tendons position was the main stay of the economy. Nigeria being
among the major producer of crude oil, suffered adversely from the effects of
hurt in the wide oil market. Nigeria depend on oil exportation for over 90% of
its foreign exchange earning and 85% it government revenue. I also observed
that if banks declare huge profit in a year, it is for the benefit of the small
– scale industries since part of it is invested in preferred sector of the
economy. a case in point in the natural housing funds decree of 1990 which
require banks and insurance companies to invest an amount equipment to not less
than 10% of their loan and advance rate. Such policy, it must be enforced
should cut policy, it must be enforced cut across all sectors of small-scale
industries. All these tend to imposed restrictions on banks and limit their
performance.
TABLE
OF CONTENTS
Title Page - - - - - - - - i
Declaration - - - - - - - - ii
Approval page - - - - - - - - iii
Dedication - - - - - - - - iv
Acknowledgment - - - - - - - v
Abstract - - - - - - - - - vi
Table of Contents - - - - - - - vii
CHAPTER ONE
1.1
Introduction - - - - - - - 1
1.2
Statement of the General Problems
- - - 2
1.3
Objectives of the essay - - - - - 5
1.4
Significance of the study - - - - - 6
1.5
Scope of the study - - - - - - 7
1.6
Definition of Terms - - - - - - 8
CHAPTER TWO
2.0
Literature Review - - - - - - 10
2.1 Historical background of Commercial Bank - 21
2.2
Functions of Bank in the Economy- - - - 14
2.3
CBN Regulation on Commercial
Banks - - 14
2.4
The Business Environment and
Future Prospect - 22
CHAPTER THREE
3.0 Summary of finding - - - - - - 23
3.1
Summary - - - - - - - - 24
3.2
Conclusion - - - - - - - 26
3.3
Recommendation - - - - - - 27
Reference: - - - - - - - 32
CHAPTER
ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The
aims of every government is to provide its people with basic services
leadership and protect the entire people’s interest within its power, for
government to this, it must have a sound and adequate financial planning to
make it possible to cater for the people’s needs.
To
a larger extent any government which comes into power has to depend on banks
and other financial institution for keeping of some of its development project
so also, the government agencies and general public depends largely on loan
from the banks to carry out their day to day business affairs.
Generally,
the main aim of every bank is to minimize the lost of running affairs of the
bank and at the same time maximize owners profit. Some bank like the Central
Bank of Nigeria (CBN) and development Bank was established purposely to develop
some section of the economy e.g Small Scale Business, Industry, Agriculture
etc.
Therefore,
this bank despite the fact that they make profit, they are not profit oriented.
Therefore
this research is based on the role played by commercial banks to the promotion
of small scale enterprises in Nigeria with particular interest on the role
played by the first bank of Nigeria Plc at it is the oldest commercial and
leading bank in the country having been in prevailing economic problems brought
about by the structural adjustment programme.
1.2 STATEMENT OF THE GENERAL PROBLEM
The
banking industry plays an important role to the economy of any nation and there
is no doubt, it plays an indispensable role for the development of Small Scale
business.
This
is not to say that they do not have lapses. Among the factors that lead to the
inefficiency in the banking industry are:
a) Financial Distress:
This financial distress in Nigeria financial system is a problem that has
recent assume an intractable dimension.
b) Bad Management:
This singular factors leaves a high stone of management which usually
determined by academic/professional qualification, relevant experience,
technical know how, business reflect, ability to formulate and implement good
policies leadership qualities and style etc. because of the relative
attractiveness of banking especially, people from different profession find
them self in the mid system of banking operations without proper grooming the
fact that banking is a district profession of its own with intricacies and
idiosyncrasies.
c) Inadequate Capital Bases:
There is a saying that says “Life guard
in a swimming pool must himself be a good swimming,” for a bank to enjoy
confidence of depositors, it must have strong capital bases as evidence of
strength. It is important that bank operates portability for the shareholders
have to increase through accreting to statutory and general in service.
d) Risk Assets Portfolio:
This is no doubt a reflection of poor management. Most banks do not have clear
investment or credit policy and there is absolutely no control on credit. In
most cases it is the managing director or chairman or the promoters of these
banks, who have lending power and they lend mainly to their own business and to
friends without business or without
following the due assessment or control.
e) Board Room Crisis:
It is unfortunate that s business which begins in a spirit of annuity and
cordially at times turns into loss face and tension among the sponsors problems
have in the past arisen on such topic as who plays what roles and people
instability to concentrate on another people’s opinion have cause dissentients
in the boardroom even physical frame as autocracy on the part of these who see
themselves as the promoters or major shareholders can often caused board room
crisis.
The
monetary authorities had to be called into the management of some banks when
thing get out of hand until the crisis is over. Board member engage in
protected legal battle and by the end of the day who losses the rest of us.
1.3 OBJECTIVES OF THE ESSAY
The
objective of this essay is to investigate in to the role played by commercial
banks, which cannot be over emphasized in the small – scale development.
The
purpose of carrying out this research work is to present a details and clear
picture of the role played by commercial bank in small scale development.
Example to what extent commercial banks have fulfilled their role in small
scale development in Nigeria.
Expose
factors which affects and determine the role of commercial in small scale
development, suggest ways for improving banks participation in the development
of small scale and the growth of the economy as a whole.
1.4 SIGNIFICANCE OF THE STUDY
The
significance of the study is therefore based on: identifying and analyzing to
commercial bank on how to apply the small scale business situation in Nigeria.
Also in identifying analyzing and providing advise to the government and
central bank of Nigeria, on how to adjust or improve the banking regulation.
It
is hoped that the finding of this research work regardless of its limitation
would give the banking industries an insight knowledge of identifying ways to
improve customer services in term of small scale development.
In
enlightening customers of services available which are unknown to them.
1.5 SCOPE OF THE STUDY
The
research specifically covers comprehensively the banking industry to the small
scale and economy of Nigeria.
The
primary responsibilities of all types of banks that we have in the industry
have been touched in the literature review.
Generally
the author attempted to examine their role of commercial bank to the small
scale, thought there are several financial and banking industries to banking
industries. A particularly consider the sources of fund to the bank and how
these funds are fully utilized to make it own contributions to our national
development and at the same time, maximize owners profit.
1.6 DEFINITION OF TERM
BANK:
It can be seen as an institution set up purposely for safe keeping of money,
valuable goods and documents like wills and others. Its could be seen as a
places where money is until the owners requires it.
COMMERCIAL BANK:
It can be seen as “a Financial Institution set up for keeping and lending money
to people, owned by individuals, organization or governments, for the main
purpose of making profit.”
SMALL SCALE ENTERPRISE: It
can be seen as a business which is independently owned and operated by one
person, and is not dominant in it field of operated in local area.
DEVELOPMENT:
it can be seen as an increase in income per capital and financial side of
people, social and administrative structures as well as social behaviour and
attitude of people’s including sometimes the people’s customs and beliefs.
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