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ROLE OF NIGERIA DEPOSIT INSURANCE CORPORATION IN REVAMPING DISTRESSED BANKS

ROLE OF NIGERIA DEPOSIT INSURANCE CORPORATION IN REVAMPING DISTRESSED BANKS

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ROLE OF NIGERIA DEPOSIT INSURANCE CORPORATION IN REVAMPING DISTRESSED BANKS

ABSTRACT S
This term paper discusses the role of the Nigeria Deposit Insurance Corporation in revaring mother to reveal this. This time paper is broken into five sections, or chapters.

The first chapter discusses the introduction and backdrop of the study, and the second chapter provides a preview of the history of Nigeria deposit insurance. The second chapter discusses a review of related literature, or what other people have written about the topic.

The third chapter discusses the research methodology, or how the data for the issue was gathered.

The fourth chapter discusses the summary of findings, and the fifth chapter discusses the recommendation and conclusion.

INTRODUCTION TO CHAPTER ONE

1.1 BACKGROUND OF THE STUDY

The Nigeria Deposit Insurance Corporation (NDIC) was established by degree No. 22 of 1985 as part of the reform measures taken to strengthen the supervisory sector. The reinforcement was imperative given the up urge in the member of licenced banks following the adoption of the policy of economic deregulation,

but there was also the long-term need to create and sustain an enabling environment that will engender safe and should banking practise agains. The corporation and the Central Bank of Nigeria (CBN) conducted a collaborative study of distress in the Nigeria financial sector,

and its findings corroborated the previously held view that distress among Nigeria banks was precipitated by or complex set of interrelated problems that had long afflicted the industry, such as poor management capital inadequacy, poor lending, and so on.

Since its inception, the Nigeria Deposit Insurance Corporation (NDIC) has remained committed to ensuring and maintaining a sound banking system. Sanitization of the banking sector has remained the primary focus of the corporation’s activities,

with the adoption of appropriate failure resolute options and the effective implementation of various laws promulgated by the government to stem the hide of distress in the system.

1.2 STATEMENT OF THE PROBLEM

Prior to the establishment of the Nigeria Deposit Insurance Corporation, many banks in Nigeria experienced distress or were forced to liquidate due to regulations and fraud in the banking sector. There is no organised body that monitors the activities of the bank,

which leads to mismanagement and fraud because the order of the body people without a solid capital base come together and form a bank, which leads to distress or liquidation in the event of any slight or minor shake in this capital base.

1.3 OBJECTIVES OF THE STUDY

The researcher intends to achieve the following aims with this study:

(i) To make suggestions for possible tracking methods.

(ii) To learn how they donated funds to the distressed bank.

(iii) Describe the economic consequences of a bank failure.

(iv) Determine whether all distressed banks benefit from the NDIC’s function as an incentive.

(v) To learn how they have aided in the economic impact of distressed banks.

1.4 THE SIGNIFICANCE OF THE STUDY

The significance of Nigeria Deposit Insurance Corporation unrevealing distress bank cannot be overstated. The important are enumerated blow NDIC insures bank deposits there by promoting stability, safety, confidence, and sound banking system in Nigeria,

protect corporations these actions provide by diagnosis for updating the trend in distress as well as indicating the next possible line of action in the sanitization drive.

The second set of steps is conceptualised and expects to be both corrective and preventive of further worsening in the financial position of Nigeria’s distressed banks.

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