FOREIGN EXCHANGE FINANCING IN AN IMPORT ORIENTED ECONOMY A CASE STUDY OF UNIVERSAL TRUST BANK, (UTB) OF NIGERIA LIMITED (1994-1997)

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dc.contributor.authorIDOWU, Oladipupo Olusola
dc.date.accessioned2014-02-14T13:45:21Z
dc.date.available2014-02-14T13:45:21Z
dc.date.issued1998-08
dc.descriptionA THESIS IN THE DEPARTMENT OF BUSINESS ADMINISTRATION SUBMITTED TO THE SCHOOL OF POSTGRADUATE STUDIES IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE DEGREE OF MASTERS IN BUSINESS ADMINISTRATION AHMADU BELLO UNIVERSITY ZARIA BY IDOWU, OLADIPUPO OLUSOLA AUGUST 1998en_US
dc.description.abstractForeign Exchange is the international money widely acceptable for settlement of goods and services between various countries of the world. It thus functions as a medium of exchange and a unit of account at international level. Finance is the backbone of international trade. Financing of such goods may be in form of payments of Cash, Overdrafts, Tenor, Reimbursement Bill, or Documentary Acceptance Credit to suppliers of the goods, through banks and financial institutions. Foreign Exchange financing is thus very essential to an import oriented economy like Nigeria. This research work sought to : . Determine the roles of Bank in granting foreign exchange to importers of goods and services through the official transaction, (ii) Determine other sources of foreign exchange available to importers. .Make recommendations aimed at minimizing the problems facing the banks and the importers within the Nigerian economy . The Researcher has established the following facts based on the exercises carried out. .Official transactions account for less than 50% of payments in foreign exchange for goods and services imported into the Nigerian economy. . Importers sought other avenues viz:parallel market, bureau de change, Domiciliary external or off-shore accounts to pay for goods and services imported into the Nigerian economy . Some limitations to the research exercise were noted, for example, the poor response of some companies to the questionnaire administered was not very encouraging. The researcher preferred some recommendations aimed at solving the acute shortage of foreign exchange in financing imports into the economy, viz:- (i) Development of industrial base through completion of steel projects and petrochemicals would reduce the volume of imports into the country and thus make foreign exchange available through official transactions to pay the bills for the essential goods and services imported into the Nigerian economy. (ii) Reduction of bottlenecks in the operation of Foreign Currency Domiciliary Accounts (FCDA) would make foreign exchange more readily available through official means and thus, make payments of imports to Nigeria less cumbersome and disturbing to manufacturers and other business organizations in future.en_US
dc.identifier.urihttp://hdl.handle.net/123456789/1600
dc.language.isoenen_US
dc.subjectFOREIGN,en_US
dc.subjectEXCHANGE,en_US
dc.subjectINANCING,en_US
dc.subjectIMPORT,en_US
dc.subjectCASE STUDY,en_US
dc.subjectTRUST BANK,en_US
dc.subjectNIGERIAen_US
dc.subjectLIMITED (1994-1997)en_US
dc.titleFOREIGN EXCHANGE FINANCING IN AN IMPORT ORIENTED ECONOMY A CASE STUDY OF UNIVERSAL TRUST BANK, (UTB) OF NIGERIA LIMITED (1994-1997)en_US
dc.typeThesisen_US
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