THE STUDY OF THE IMPACT OF UNIVERSAL BANKING IN NIGERIA FINANCIAL SYSTEM
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THE STUDY OF THE IMPACT OF UNIVERSAL BANKING IN NIGERIA FINANCIAL SYSTEM
PROPOSAL FOR A STUDY OF THE IMPACT OF UNIVERSAL BANKING ON THE FINANCIAL SYSTEM IN NIGERIA
The examination of the impact of universal banking is one of the most important for Nigerian banks to get increased visibility. This is primarily due to the effect of a new concept in the Nigerian banking system,
which tends to remove functional barriers between commercial and merchant banks, thereby empowering the bank to engage in activities other than traditional banking, such as capital market operations and insurance services.
The first chapter focuses on the introduction. It also addresses the study’s context, problem statement, the purpose of exhuming the overall performance of the Nigeria banking system prior to the introduction of universal banking, research questions, significance, and hypothesis to test.
The literate review was stressed in Chapter 2.
The third (3) chapter discusses the research design as well as the primary and secondary data.
The emphasis in Chapter four (4) was on data presentation and analysis. While Chapter 5 compresses the condition using the aforementioned processes, the research copy to effectively complete the research activity.
INTRODUCTION
CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
The performance of Nigeria’s banking system has caused widespread worry in the country. Politicians, the military, the intellectual community, industrialists, traders, and even the peasant community are examples of such Nigerians. When one considers the current status of the industry, one cannot not but conclude that all is not well.
Actually, the methods of expressing dissatisfaction within the banking sector may differ, but there is uniformity in feedings. These feelings have one interpretation, which can be stated politely as amazement at the ways banks operate.
The first question that comes to mind is contained in a single sentence: what is wrong with our banking sector? Other questions that this raises include.
(i) Are the issues related to management?
(ii) Is the issue one of bad regulatory policy by the controlling authorities?
(iii) Is the Nigerian banking environment inherently flawed?
Whatever the causes for this subsection’s poor performance, one thing is certain: the banking sector is sick and may have slipped into coma, necessitating severe surgical operations to revitalise and sanitise it.
Furthermore, despite drastic changes in the Nigeria banking sector over the last decade in terms of institutional framework, legal and regulatory financial framework, the overall performance of this industry can be described as grotesque, absend, and inconsistent with Nigerians’ expectations. Emekewue (2003).
With the ongoing deregulation and liberalisation of the financial sector, as well as the revolution in information technology, the Nigerian economy cannot help but be influenced by globalisation.
It will face foreign competition for its advantageous position. For Nigeria to benefit from this phenomenon, such as capital flows, it is necessary to have a healthy and sound financial system and institutions capable of playing the global game efficiently and effectively (CBN) Ballion 2003.
Furthermore, in the context of globalisation, deregulation, and liberalisation, the preference will be for a system that allows for unrestricted choice, which is a vote for universal banking, in which financial bankers between banks are eliminated and the scope and operation of banks are expanded.
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