THE EFFECTS OF INTEREST RATES DEREGULATION IN NIGERIA BANKING INDUSTRIES (A CASE STUDY OF UNITED BANK OF AFRICA PLC,)

ABSTRACT

          This project work examines the meaning of interest, the effects of interest on Nigeria Banking Industries and other related aspects interest rate. It is also focuses on the effect of interest rates on United Bank for Africa and in order to develop a project work like this, certain research methodologies and techniques, were employed and it was concluded that interest rates has a great effects (negative or positive) on the Banking Industry in Nigeria.

TABLE OF CONTENT

Title page                                                                                           i

Certification                                                                                      ii

Dedication                                                                                         iii

Acknowledgement                                                                             iv

Abstract                                                                                             v

Table of Content                                                                                vi-viii

CHAPTER ONE

1.0     Introduction                                                                            1

1.1     The Purpose of the Study                                                        1

1.2     The Scope of the Study                                                            1-2

1.3     The Significance of the Study                                                  2

1.4     The Limitation of the Study                                                     2-3

CHAPTER TWO

2.0     Literature Review                                                                     3

2.1     Definition of Terms                                                                  4-5

2.2     Evaluations and Structure of Banking Institution

in Nigeria Evolution                                                                 5-9

2.3     Reason for Deregulation Interest Rates by the Central Bank   9-11

2.4     The Effects of the Interest Rate                                       11

2.5     The Importance of Interest Rates Regulations

to Nigeria Economy                                                                  12-13

2.6     Historical Aspect of United Bank for Africa                              13-14

CHAPTER THREE

3.0     Research Methodology                                                             15

3.1    Introduction                                                                             15

3.2    Source of Data Collection                                                         15-16

3.3     Questionnaire Design                                                              16-17

3.4    Method of Data Analysis                                                          17-18

3.5    Method of Data Presentation                                                    18

CHAPTER FOUR

4.0     Data Analysis and Interpretation                                            19

4.1      Introduction                                                                           19-31

CHAPTER FIVE

5.0     Summaries, Conclusion and Recommendation                       32

5.1     Summary                                                                                 32-33

5.2     Conclusion                                                                              33

5.3     Recommendation                                                                     33-34

References                                                                               35

CHAPTER ONE

1.0    INTRODUCTION

Central bank of Nigeria (CBN) as a bank to the Government has so many role to play in an economy. One of the important roles of central bank is the control and regulation of interest rate on banks. The deregulation of interest rates on banks in Nigeria and its effects is the subject matter of this study.

Thus, this chapter cover the general principles of interest rates with emphasis on purpose of the study, scope of the study, significance of the study, limitation of the study and definition of terms.

1.1    THE PURPOSE OF THE STUDY

The purpose of the study is to examine how the central bank of Nigeria (CBN) regulates the interest rate and to know the specific effects of the interest deregulation in Nigeria banking industries. Looking at United Bank for Africa (UBA), we are drawing information from their activities and this enable us to know the specific interest rates deregulation in Nigeria Banking industries.

1.2    THE SCOPE OF THE STUDY

The scope of the study is primarily to highlight the effect of interest rates deregulate which intends to cover the following target are:

i. Central bank as a body controlling or deregulating interest rates.

ii. Activities of united bank for Africa on which interest are chargeable.

iii. General bank accounts and credits, which are also liable interest rate.

iv. How the deregulation has affected the banks and particularly united bank for Africa (UBA) where we are testing our hypothesis.

v. Various journals and publications.

We hope to use some statistical method to obtain relevant  information from the said Targeted Bank UBA, also, we used primary source of information in which we have questionnaires and personal interview of relevant literature textbook, magazines periodical and newspapers for proper presentation.

1.3    THE SIGNIFICANCE OF THE STUDY

This will reveal the importance of the research work, its benefit end contributions in the provision of the subject matter. This study is set out to find the interest rates deregulation in banking industries. Despite the control of central bank of Nigeria (CBN) in banking sectors, it could still be seen that interest rate in banking industries are weakened all the while.

1.4    THE LIMITATION OF THE STUDY

Since all area of human endeavour are characterized by some limiting factors and a research effect of this nature is therefore no exception. Therefore the major constraints of there research work are:

i. TIME: It is indeed pertinent that we have a very little time within our reach. Therefore we need to manage the source we could quickly lay our hands upon so as to be able to finish the work within the allocated time.

ii. FINANCIAL CONTRANT: The writer of the project would have loved to cover wider but this is not possible due to the limited amount of money we gave with us. We spent all we could to our hands upon to put the work through.

iii. OTHER LOGICAL REASONS: This are some other reasons which made us limit our research to this area we have mentioned. For example, it is not easy to go through out the nation to source information and also the widespread of various banks we have.

Finally, we hope that at the end of reading this project work, the reader must have been well acquainted with what is know as interest rate deregulation in bank its effects on Nigeria banks and how the banks operate under the banking system

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