MERCHANT BANKS AND ECONOMIC DEVELOPMENT: A CASE STUDY OF NAL MERCHANT BANK PLC
ABSTRACT
The language of business is money, and money is the business of
financial institutions – key participants of the financial system. The most
developed segment of the Nigerian financial systeem is the banking industry.
Thus, it is quite noticeable that despite the depressed economy, there has
been a continuous increase in the number of banks day in day out.
For many years, most especially since the Structural Adjustment
Programme (SAP) came into being, the fad-banks did more than keeping
peoples money safe. The banks turned into traders, dealers in foreign exchange
and in the process rocking millions of naira as profit.
Despite SAP, the banking industry become a goldmine. Everything they
dabbled turned into money. The speed and manner with which same become
apparently profitable raised brawls and for the fact that the deeper you dig, the more
you find. One is therefore tempted to investigte the role of merchant banks in the
development of the Nigerian economy, since they are one of the vital instruments for
transforming the economy into a viable, productive and profitable one.
The sudden upsurge in merchant banks should not come as a surprise with the
structure of Nigerian economy changing so rapidly, and with the pace of
industrialization gathering breath and taking momentum there is the inevitable need
for wholesale banking; venture capital tax financing, equipment leasing, and for
medium and long term financing activities that are outside the traditional domain of
commercial banks
TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
MERCHANT BANKS AND ECONOMIC DEVELOPMENT: A CASE STUDY OF NAL MERCHANT BANK PLC
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