DISTRESS IN THE NIGERIAN FINANCIAL SECTOR: A CASE STUDY OF HAPPY HOME SAVINGS & LOANS LTD.

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dc.contributor.authorABUBAKAR, USMAN
dc.date.accessioned2014-04-04T08:45:28Z
dc.date.available2014-04-04T08:45:28Z
dc.date.issued2002-01
dc.descriptionA PROJECT SUBMITTED TO THE POSTGRADUATE SCHOOL, AHMADU BELLO UNIVERSITY IN PARTIAL FULFILLMENT FOR THE AWARD OF THE MASTER OF BUSINESS ADMINISTRATION DEGREE DEPARTMENT OF BUSINESS ADMINISTRATION FACULTY OF ADMINISTRATION AHMADU BELLO UNIVERSITY ZARIA.en_US
dc.description.abstractThe financial sector is one of the most dominant sector in the economic growth and development of any nation. The history of the financial sector in Nigeria dates back to 1892 with the advent of commercial banking business during the colonial period. It was not until the 1930s however, that indigenous involvement in banking business started and that period witnessed the first incidence of financial distress in Nigeria. Distress in the financial sector in recent times, remain one of the greatest challenges facing the industry particularly since 1990. It witnessed the collapsed of banks and non-banks financial institutions. In the mortgage finance sub-sector, 97 out of the 286 licensed primary mortgage institutions (PMIs) had their licenses withdrawn in 1997 due to insolvency, while only 54 are said to be stable and sound. This situation is even worst with the community banks and finance houses. This research has looked at the fundamental factors that led to the distress situation in the financial industry with particular reference to the mortgage finance sub-sector between 1992-1997. This includes:- i. Poor capitalization ii. Bad investment portfolio iii. Political and economic instability iv. Mobilization of short term funds and excessive interest rate payments v. Inconsistent government policies vi. Inadequate monitoring and control by the regulatory authorities vii. Management/boardroom problems. These findings are based on the empirical investigations and observation of the situation in Happy Home Savings and Loans Ltd., the analysis and evaluation of other PMIs. An evaluation of the regulatory framework and policies for PMIs operations shows an inherent inconsistency and lack of adequate capacity to monitor and regulate their activities by the supervising authoritiesen_US
dc.identifier.urihttp://hdl.handle.net/123456789/4580
dc.language.isoenen_US
dc.subjectDISTRESS,en_US
dc.subjectNIGERIAN,en_US
dc.subjectFINANCIAL,en_US
dc.subjectSECTOR:en_US
dc.titleDISTRESS IN THE NIGERIAN FINANCIAL SECTOR: A CASE STUDY OF HAPPY HOME SAVINGS & LOANS LTD.en_US
dc.typeThesisen_US
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