MERCHANT BANKS AND ECONOMIC DEVELOPMENT
MERCHANT BANKS AND ECONOMIC DEVELOPMENT
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Date
2000-08
Authors
MUHAMMED, AHMED MUSA
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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.
Description
A PROJECT SUBMITTED TO THE POST GRADUATE SCHOOOL
AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL
FULFILLMENT OF THE REQUIREMENTS FOR THE
AWARD OF THE DEGREE OF MASTER OF
BUSINESS ADMINISTRATION (MBA) OF
AHMADU BELLO UNIVERSITY, ZARIA
DEPARTMENT OF BUSINESS ADMINISTRATION
FACULTY OF ADMINISTRATION
AHMADU BELLO UNIVERSITY
ZARIA, NIGERIA
Keywords
MERCHANT, BANKS, ECONOMIC, DEVELOPMENT