CHAPTER ONE
INTRODUCTION
1.1 OVERVIEW
A financial institution is an organized body, concerned with the management of money. This is to say that the institution is responsible for the lending and borrowing of money. In other works, it is an institution involved in financial intermediation where money is mobilized and channeled from the public dialing (those who have surplus fund and want to some to those who want to invest in productive activities) some of the institution in Nigeria are “CBN, merchant bank, commercial bank, insurance company, Development banks, stock exchange market etc.
Mismanagement is defined by “Land-man English dictionary” as control or deals with private, public or business affairs badly or unskillfully etc.
The mismanagement is also defined by “oxford English dictionary version” as mismanage, bad improper administration to manary badly or wrongly. Then financial mismanagement according to the above definitions may be improper administration bad or wrong use of money inadequate collateral security of granting loan mis appropriation collateral of money or management of finance unskillfully.
The central bank of Nigeria (CBN) is the open bank of a national that serves as the main source of revenue to the government, it equality gives advisory measures to the government. And also help the government extremely in international trade etc.
To the public and private individual bank especially the commercial banks provides draftier support to the public and individual affairs. The bank grant loans advances, make payment locally or outside Nigeria. In fact they perform varieties of functions to satisfy the financial needs of all types of customers from small personal account holder to big incorporations and public organization. That is by accepting deposits, safe custody agency services e.t.c.
This industries have grown beyond optimistic expectoration over the year or period in the number of bank that expanded in five years. The variety of bank increased and the growth of the industries resulted to loss of professionalism in services, increasing fraud owing to the craze for material wealth, inflating of contract, God fatherism poor portfolio and other back malsfeasence which has contributed extremely to the constant report of financial mismanagement in a financial institution. The causes of financial mismanagement and misappropriation of public funds are now rampant in these financial institutions.
Eve the workers in these institutes had complained bitterly about hanger and starvation. Due to mobility of the manger to pay of their salaries. This has almost the time happened due to misappropriation and improper control and utilization of funds ment for salaries.
Reports of riots, unrest or strike of workers which bring a lot on the economy not to function effectively due mismanagement by manager of this financial institution.
In this case, mismanagement has resulted to a great effect over many sections of life of the above mentioned. Such as company, individuals, worker and the economy as a whole. The tendency to embezzle and get rich quick mentality his continued down the line. The serious act of financial institution in Nigeria.
Can't find what you are looking for?
Call (+234) 07030248044.
OTHER SIMILAR BANKING FINANCE PROJECTS AND MATERIALS
A CRITICAL ANALYSIS OF CAUSES AND PROBLEM OF FINANCIAL DISTRESS IN NIGERIA BANKING SECTOR (A CASE STUDY OF AFEX BANK PLC.)
CHAPTER ONE INTRODUCTION The importance of capital as a necessity though not sufficient condition for economic growth is recognized in development economy where it is believed that the position of ...Continue reading »
A CRITICAL ANALYSIS OF THE USE OF FINANCIAL REPORT IN ASSESSING BANK PERFORMANCE. (A CASE STUDY UNION BANK OF NIGERIA PLC)
CHAPTER ONE INTRUDUCTION BACKGROUND OF STUDY A farmer, who plants corps, expects result, similarly to student who sits for examination expects results. The same 5 also true of an investor. For the ...Continue reading »
A CRITICAL ANALYSIS ON THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)
ABSTRACT This project work is carried out to examine the contribution of micro finance banks to the development of Small and medium scale enterprises in Nigeria. The Brass micro finance bank is used a...Continue reading »
A CRITICAL APPRAISAL OF CURRENT ASSETS MANAGEMENT IN PUBLIC LIMITED LIABILITY COMPANIES
ABSTRACT This project examined the management of current assets in public Limited Liability Company. It is obvious that no company can perform well without good current asset management. This cares f...Continue reading »
A CRITICAL APPRAISAL OF CURRENT ASSETS MANAGEMENT IN PUBLIC LIMITED LIABILITY COMPANIES
CHAPTER ONE 1.0 INTRUDUCTION: Current assets as one of the management tolls of business organization are very important in the proper function of business and achievement of organizational goal. Cur...Continue reading »
A CRITICAL ASSESSMENT OF THE SURVIVAL STRATEGIES OF DEPOSIT MONEY BANKS IN A DEPRESSED ECONOMY
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Nigerian economy is faced with national and global economic challenges and as such, the financial institutions, especially the banking sector ha...Continue reading »
What are looking for today?
Format: | Ms Word | ||
Chapters: | 1 - 5 | ||
Pages: | 52 | ||
Attributes: | Questionnaire, Data Analysis, Abstract | ||
Price: | ₦5000 | ||
Get the complete project » |
THE IMPACT OF HUMAN RESOURCE PLANNING ON ORGANIZATIONAL PERFORMANCE
91,534 people found this useful
IMPACT OF E-LEARNING ON THE ACADEMIC PERFORMANCE OF UNDERGRADUATE STUDENTS (A CASE STUDY OF NATIONAL...
70,994 people found this useful
IMPACT OF SOCIAL MEDIA ON CONSUMER BEHAVIOR
62,680 people found this useful
TAX ADMINISTRATION IN NIGERIA: CHALLENGES AND PROSPECTS, A CASE STUDY OF LAGOS STATE BOARD OF INTERN...
61,821 people found this useful
THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION
58,125 people found this useful
THE EFFECT OF ADVERTISEMENT ON CONSUMER BRAND PREFERENCE
57,001 people found this useful