BANKING INSPECTION AND EXAMINATION AS AN AID TO EFFECTIVE BANKING MANAGEMENT
According to Oxford Dictionary bank inspection Bank inspection – it is an official visit of bank to check that rules and being obeyed and that standard are acceptable.
In the course of the research work the author made a deeply findings which made the research work to contain five chapter.
In chapter one the author started with the background of the study, research question, significance of the study and definition of terms.
In chapter two, the author focus on the literature review, which is divided into theatrical and empirical review.
In chapter three the author went further on the hypothesis, methodology of the study, source of data and limitation of the study.
In chapter four, the data presentation and analysis.
Finally in chapter five, summaries, recommendation and conclusion
The objective of this study was to explore the possible banking inspection as an aid to effective bank management with particular reference to UBA Plc Enugu.
To guide this research, the following eight research questions were formulated as thus
What are the control measures against the bad debt in the bank being achieved?
To what extent are the workers being assured of jobs?
What are the control measures against the bad debt in the bank being achieved?
To what extent are human and non-human resources adequate for efficient inspection in the bank?
To what extent has the bank provision against computer found being checked?
A structured questionnaire developed by the researcher was administered to a total of 102 male and female staff of UBA Plc, Enugu.
They were selected using the sample of 50 population. Hence the data collected and analyses using percentages.
The major findings among other are:
1. Those males are majority in UBA Plc, Enugu.
2. Greater majority of the staff have served for 6 to 10 years and more.
3. Majority are WASC/GCE holders.
4. Greater majority of the staff are married.
5. Resources are not adequate except few resources items.
6. Computer fraud has not been experienced in UBA Plc, Enugu.
7. Interference and job/position insecurity of inspector’s effects objectivity report and recommendation.
8. Also non-implementation of provisions reports effect inspector’s functions.
9. Bad debt occurred in UBA always based on the findings. The major recommendations were as follows:
In service training should be given to staff an regular basis to get abreast with demands of the time.
Use delegation as a supervisory strategy to be in professional touch despite physical remoteness in all sectors of the banks.
Seminars, staff meeting, individual conference, demonstration service, provision of office bulletin and make people closer.
Promotion of good working relationship by cultivating desirable temperament.
Leadership functions such as coordinating, researching and servicing should be taken serious as a lore development in the bank.
Staff safety and welfare must be assured for continuity.
TABLE OF CONTENTS
1.1 Background of the study
1.2 Statement of the problem
1.3 The objectives or purpose of the study
1.4 Scope or delimitation of the study
1.5 Research questions
1.6 Significance / rationale of the study
2.0 Review of literature
2.1 Conception and purpose of supervision
2.2 Organisation and management of supervisor in banking industry
2.3 Developing effectiveness in supervisor
2.4 Frauds amount to inspection
2.5 Summary of the related literature review
3.1 Research design
3.2 Area of study
3.3 Population of the study
3.4 Sample and sampling procedure
3.5 Instrument for data collection
3.6 Validation of the research instrument
3.7 Reliability of the research instrument
3.8 Method of administration of the research instrument
3.9 Method of data analysis
4.0 Data presentation and results
Summary of results/findings
5.0 Discussion, implication, recommendations
5.1 Discussion of results
5.3 Implication of the result
5.5 Suggestions for further research
5.6 Limitation of the study
LIST OF TABLE
4.1 To what extent are the workers being assured of jobs?
4.2 To what extent are human and non human resources adequate for efficient inspection
4.3 To what extent has the bank provision against computer fraud is being checked
4.4 To what extent will the bank solve the problem of rationalization and retrenchment.
1.1 BACKGROUND TO THE STUDY
The banking act of 1969 defined banking business as the business of receiving monies from outside resources as deposits, irrespective of the payment of interest and the granting of money loans and cheques, or the purchase and sales of securities for accounts of others or the incurring of the obligation to acquire claims in respect of loans prior to their maturity or the assumption of guarantees and other warranties for others.
In Nigeria, the banking business is being operated by the central bank of Nigeria (CBN) which acts as the apex bank commercial banks, merchant banks and of course the people’s and community bank established by various decrees promulgated by the federal military government.
Commercial banking actuates started in Nigeria in 1892 when the African Banking Corporation commenced its bank work in Lagos.
One of the basic roles of the central bank of Nigeria is the supervision and control of other banks.
One of the basic roles of the Central Bank of Nigeria is the supervision and control of other banks. In (1982) Hart brought his own view of definition of ank as a person or company carrying on the business of receiving monies and collecting draft for customers subject to the obligation of honouring cheques drawn upon them from time to time by customers to the extend of the amounts available on their current account.
The government through its agency the Central Bank of Nigeria regulates banks. This is to ensure that they render services to their customers in a manner consistent with safe banking operations and government financial policy.
Due to the need to effectively and efficiently mange depositors funds the task of managing a bank is entrusted with honors, reputable, and hard-working personnel amongst various function of bank management from among alternatives of a course of action.
It is at the core of planning, a plan cannot be said to exist unless a decision has been reached (Kasnts 1984).
The bank personnel management established internal control procedure for the effective discharge of the major functions in order to obtain their corporate objectives. In doings this, special attention must be given to communication problem. The structure of the bank organization should have a one and the staff structure so that there will be flow of information form the top management and vice versa and also the low level will give advice to the top level who might accept it or not. This will make people below the top management level to be among of the bank policy and their own responsibilities towards the bank.
With a free flow of information there will be a real basis for effective decision-making. There is a need to establish a follow up mechanism so that the performance will be maintained to know whether action is going according to plan and policies. If it is not then correction can be made before it is too late. It is in the light of the above factors that the management function of controlling becomes very desirable.
In order words, to ensure that efficiency proper management are maintained the bank management has established the internal control unit or the inspection division. The inspection itself is an important organ for internal control system. But our teaching problem is hat despite the establishment of this division there seem to be lapses here and there..
Based on the factors, the research was motivated to examine the extent to which inspectorate unit of banks are contribution to the efficient management of the banks resources with particular reference to United Bank for Africa PLC, Agbani Road, Enugu.
1.2 STATEMENT OF PROBLEM
Despite the creation of inspectorate unit in the bank for internal control, it is not clear on the adequacy of human and non-human resources for efficient operations of banking industry.
This is because mangers still grant credits (loans) beyond their power limit without collateral security.
Secondly, cases of bad debts result form loan given to customers that has not been recovered. Hence the CBN (1990) Prudential guideline has not been obeyed and the effect is reported or minimal profit.
Thirdly, there has been cases of computer fraud deflation and outright removal of physical cash by employees ad out sectors. This has created imbalance looks and records with obvious effect of huge loses.
Another problem is he extent of frequent rationalization and entrenchment in the banking industry. This creates job insecurity and workers may tend to indulge in any act for survival in case of eventualities. All these motivated the research to study the effect of inspection as an aid to effective bank management.
1.3 OBJECTIVES OF THE STUDY
The purpose of this study include the followings
a. To ascertain the extent to which banking inspection has helped in creating job security to its bank employees.
b. To examination the number of bad debts resulting from loans given to customers that have not been recovered and provision made for prevention.
c. To find out the extent to which banking inspection had made provision for job security in the bank with a view to solving problem.
d. To find out extent of computer fraud and associated of evils in UBA Agbani Road, Enugu, with a view of solving them.
e.To examine the inspection and examination techniques in the banks.
1.4 RESEARCH QUESTION
a. Does the bank inspection as well s its examination helps in the prevention and detection of fraud.
b. Do bank inspection and examination assist in ensuring effectiveness in bank management.
c. Do the bank management comply with CBN and government regulations in granting of loans.
d. To what extent have bank inspection and examination help in protection the interest of depositors and creditors of the bank.
1.5 RESEARCH HYPOTHESIS
These are the research hypothesis for the study;
H0: There are no possible inspection and examination in the bank.
Hi: There are possible inspection and examination in the bank.
H0: Bank inspection and inspection cannot be eradicated.
H2: Bank inspection and inspection can be eradicated.
H0: The problem of banking inspection and examination can be solved by Nigeria banks.
H3: The problem of banking inspection and examination cannot be solved by Nigeria banks.
H0: There is no impact of efficient in bank inspection and examination
H4: There is impact of efficient in bank inspection and examination
H0: Bank inspection and examination assist in ensuring effective in Bank management.
H5: Bank inspection and examination does not assist in ensuring effective in Bank management.
1.6 SIGNIFICANCE OF THE STUDY
The significance of banking inspection and examination cannot be over emphasized.
This is because inspection and examination is the only weapon banks can use to rectify and solve the problem of bad debt so as, to the avoid liquidation and thereby affecting the growth and development of the country.
The people that will benefit from this study are banks as it will help workers to observe policies and procedures of the banking ethics to strengthen the job security of staff for efficiency growth and development restructure.
The result of this study or work may help to create the awareness required for the effective and efficient and iting of the banks on a regular basis. Business organizations and companies will also benefit from this work.
Moreover, an application o the suggestion made will earn the bank more customers co-operation among staff, trust and confidence on the fellow workers and active the set objective of the banking industry.
DEFINIITON OF TERMS
1. BANK EXAMINATION: Is an on-site investigation of the banks financial conditions, management and policies by representatives (bank examines) of the regulatory agencies.
2. LOANS: These are income generated by borrowing from private individuals, banks or from foreign countries to finance a project.
3. Supervisor: A person who comes in a professional contract with the principal staff such that the contact influences the quality of performance and change.
4. GUARANTEES: This is a written promise made by one person called the guarantor or surely to be collaterally answerable for the debt, default or miscarriage of another person called the principal debtor.
5. ACCEPTANCE: This is defined as a draft by one party and acknowledged by a second party. The drawer who is also the accepter stamps or writes the word “accepted” on the face of the instrument and the place and the date of payment.
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