THE ROLE OF MERCHANT BANKS IN NIGERIA'S ECONOMIC DEVELOPMENT

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dc.contributor.authorADEBIYI, AYOFE M
dc.date.accessioned2014-02-17T10:53:54Z
dc.date.available2014-02-17T10:53:54Z
dc.date.issued1994-05
dc.descriptionA PROJECT SUBMITTED TO THE POSTGRADUATE SCHOOL AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION (MBA). DEPARTMENT OF BUSINESS ADMINISTRATION AHMADU BELLO UNIVERSITY, ZARIA. MAY, 1994.en_US
dc.description.abstractThe language of business is money, and money is the business of financial i n s t i t u t i o n s . The most developed segment of the Nigerian Financial Structure is the banking industry. Thus, it is quite noticeable that despite the depressed s t a t e of our economy, there has been a continuous increase in the number of banks day in day out and most especially that of Merchant Bank. For many years, but most especially since the Structural Adjustment Programme became the fad, banks did more than keeping people's money. The banks became traders, dealers in foreign exchange raking in millions of naira in p r o f i t . Despite SAP, the banking industry became the i n s t i t u t i o n with the midas touch. The sudden upsurge in Merchant Banks should not come as a surprise. With the structure of the Nigerian economy changing so rapidly, and with the pace of industrialization gathering breath-taking momentum, there is the inevitable need for wholesale banking, venture capital, tax financing, equipment leasing and for medium and long term financing a c t i v i t i e s that are outside the traditional domain of commercial banking. However, this development brought about other problems such as using these banks for money laudering, 419 scandalous transactions, dubious transfer of poor Nigerians' hardly-earned money to oversea accounts of vii operators of these banks for self-enrichment and unprofessional hanling of financing activities without necessary security and gurrantee. These and others are determinant factors in the success and failure of Merchant Banks in Nigerian economy.en_US
dc.identifier.urihttp://hdl.handle.net/123456789/1728
dc.language.isoenen_US
dc.subjectROLEen_US
dc.subjectMERCHANT BANKSen_US
dc.subjectNIGERIA'S ECONOMICen_US
dc.subjectDEVELOPMENTen_US
dc.titleTHE ROLE OF MERCHANT BANKS IN NIGERIA'S ECONOMIC DEVELOPMENTen_US
dc.typeThesisen_US
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