1.1 BACKGROUND OF THE STUDY
Nigeria and indeed all developing nation are in dare need of any instrument of help to riggle out of the quagmire of under development. The various concerns of respective regimes in these countries and primarily on the food, shelter, clothing and other essential needs that make life meaningful. These needs range from the lower centre of the three base food, shelter and clothing to the higher security and status.
The primary aim of any nation is to make her citizens comfortable in every ramification. This connotes development of all the sectors of the economy and comes only by the combined effort of government, firms and individuals. The government here could be central or federal state or regional and local or district. The firm include all the manufacturing concerns either individual or their group and government as well.
Before embarking on any project the resources have to be harnessed. These resources include the various income by these three sector –government, firm and individual where the resource cannot meet with the demand, external means have to come to play.
Government as a pioneering hand cannot meet these needs from some where as they run to hundreds of millions for small business that need few thousands to start, the bulk population do not have them and so should come from some where the government of various administrations have tried to make life as meaningful as possible by purporting to providing the essential amenities that are catalyst to development.
The generality of the people live in rural areas, and to provide these in rural area is a task they have set to achieve. The rural population and encouragement to se6t up the thieving ventures that can help them. This encouragement is in terms of finance or in fixed assets like financial house as banks.
Depending on the amount needed for the take off, there are places to go to. These includes the development banks for loans repayable at least ten years like the Nigeria bank for commerce and industry (NBCI). Nigeria industrial development bank (NIPB). And Nigeria Agricultural bank (NAB). Merchant banks are there as discount houses, aid of portfolio management and financier of foreign trade as equipment leasing commercial bank as retail bank only give loan at a maximum of three years. The collaterals need in any of those categories of banks are very for within the reach of ordinary citizen it then appears that only the rich enjoy those services.
1.2 STATEMENT OF THE PROBLEM
The problem of this study are:
1.3 OBJECTIVES OF THE STUDY
1.4 LIMITATION OF THE STUDY
The researcher have limited herself to the operation of community bank as it effects the rural dwellers in trying to develops the economy. The researcher is aware of the numerous financial institutions littered in the country but the research have pinned her study down to community bank operations with Ogui Urban community bank as a focal point.
1.5 SIGNIFICANCE OF THE STUDY
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