TABLE OF CONTENTS
PAGE
Title page
Certification
Dedication
Acknowledgement
CHAPTER
ONE
1.0 Introduction
1.1 Background of the Study
1.2 Statement of the Problem
1.3 Objective of the Country
1.4 Research Hypothesis
1.5
Significance of the Study
1.6 Scope of the Study
1.7 Limitation of the Study
1.8 Profile of Nigerian Deposit Insurance Corporation (Ndic)
1.9 Definition of Terms.
CHAPTER TWO: LITERATURE
REVIEW
2.0 Literature
Review
2.1 Introduction
2.2
Function of
Nigeria Deposit Insurance Corporation
2.3 Reason For Establish
the Deposit Insurance Scheme in Nigeria
2.4
Achievement of the
Nigerian Deposit Insurance Corporation (Ndic)
2.5 Challenges Facing the
Nigerian Deposit Insurance Corporation (Ndic)
2.6 Prospect for the Scheme in Nigeria
CAHPTER
THREE
3.0 Research Methodology
3.1 Introduction
3.2 Research
Design
3.3 Re3search Instrument
3.4 Determination
of Population
3.5 Sample and Sampling Procedure
3.6 Source
of Data Collected
3.7 Procedure
for Statistical Analysis or Data
3.8 Limitation of the Study
CHAPTER
FOUR
4.0 Data Presentation Analysis and Interpretation
4.1 Introduction
4.2 Analysis
of the Respondent (Section a)
4.3 Analysis of the Respondent
4.4 Testing of Hypothesis
CHAPTER
FIVE
5.0 Summary, Conclusion and Recommendation
5.1
Summary
5.2 Conclusion
5.3
Recommendation
References
Questionnaire
CHAPTER
ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
A bank deposit insurance scheme (DIS) is a
financial guarantee to depositor particularly the small ones, in the event of a
bank failure bank deposit insurance scheme developed out of the need to protect
depositor, especially the uniformed, from the risk of loss and to also protect
the banking system from instability occasioned by runs and loss of confidence
The banking system has been singled out for this special protection because of
the vital role banks play in the economy whether developed or developing. For a
DIS to be effective in achieving the above objectives. It must be properly
designed, well implemented by the fancy established to execute the scheme and
well understood by members of the public {financial stability forum (FSF),
200}. A well designed DIS contributes to the stability of withdraw their
insured deposits from banks following rumours about their financial conditions.
The establishment of Nigerian deposit insurance
cooperation (NDIC) in 1988 heralded the introduction of an explicit deposit
insurance scheme in Nigeria the Nigerian deposit insurance corporation is
responsible for insuring the deposits at all banks and other deposit taking
financial institutions licensed by the central bank of Nigeria (CBN). It also
give financial and technical assistance in the interest of depositors, to banks
in difficulties and in case a bank fails, it guarantee the payment of insured
deposits
The corporation assists the central bank of
Nigeria (CBN) in the formulation and implementation of banking policies, with a
view to ensuring sound banking practice among others. The scheme was meant to
argument the existing safely not by protecting depositor, thereby boosting
confidence of the banking public. It was also considered as an additional frame
work to serve as a substitute to the government support policy (implicit
insurance) hitherto in place. Prior to the establishment of the corporation,
government was unwilling to let any bank fail no matter its financial condition
due to fear of the potential adverse government support over the years.
However, such direct supports (implicit insurance) could not be sustained under
the structural adjustment programmed introduced in 1986 which among others,
deregulated the economy towards market orientation, with the establishment of
the Nigerian Deposit insurance corporation scheme (NDIC), the pain of bank
failure unsuitable in a market environment were reduced to a minimum while
moral hazard associated with direct government support was eliminated.
1.2 STATEMENT OF THE PROBLEM
Some public opinions, particularly the press has
been vociferous in the argument that the rate of proliferation in the banking
industry is unmanageable and many new banks were bound to fail. it was like the
regulatory authorities like Nigerian deposit insurance corporation (NDIC) were
determined to avoid failure with of prudential guideline in additional to
existing schedule to banking and which have indeed put the government at alert
to avert any crises. All there are to assist the supervising authority in the
critical evolution of banks financial position and facilitate the
identification of problem in banking industry the problem facing banks also
includes.
High level of intensified competition due to the
liberalization of industry.
Increased systematic risk arising from increased
off balance sheet transaction.
The problems of bank distress which result to loss
of bring money by the bank customer.
The prevalent of fraud in the banking industry.
This research will address the challenges facing
banking industry because of its tremendous impact on the economic growth of the
country.
1.3 OBJECTIVE OF THE COUNTRY
The financial section has not only become
incessant to the growth of the nation’s economy but has also been in the
increase in recent years. The objective of the research includes;
To highlight some of the problem facing Nigerian
deposit insurance corporation (NDIC) in its attempt to achieve economic growth
through stability in the banking industry.
To examine who checks and solution has been proffered
by the Nigerian deposit insurance corporation (NDIC) against the problems.
To examine the role of banking industry in
economic growth.
To examine the prospects of Nigerian deposit
insurance corporation (NDIC) in the performance of banking industry.
To recommend measures to curb the problem
militating against Nigerian deposit insurance corporation (NDIC) in performing
their function.
1.4 RESEARCH HYPOTHESIS
The study is based on the following hypothesis.
Ho: There is no significant relationship between
effective performance of Nigerian deposit insurance corporation (NDIC) and
economic growth
Hi: there is significant relationship between
effective performance of Nigerian deposit insurance corporation (NDIC) and
economic growth
Ho: Nigerian deposit insurance corporation (NDIC)
has no significant impact on the operation of the banking industry and economic
growth.
Hi: Nigerian deposit insurance corporation (NDIC)
has significant impact on the operation of the banking industry and economic
growth.
Ho: banking stability has no significant influence
on the economic growth in Nigeria.
1.5 SIGNIFICANCE OF THE STUDY
The significance of this study cannot be
emphasized and can be considered in relation to the scope of study. This research
can be visualized from the effects of distress in bank that lead to loss in
banking customer’s deposits.
However, banking distress has contributed
immensely to the lack of economic growth in the economic of the nation.
The research will be tremdous assistance to policy
market and practitioners. It will also provide to the existing literature in
the field for researcher, and student in higher institution of learning can
devoice various secondary sources from it.
1.6 SCOPE OF THE STUDY
The scope of the study will cover the following
areas. Reason for establishment of Nigerian deposit insurance corporation
(NDIC). Its achievement and challenges facing Nigerian deposit insurance
corporation (NDIC). The study will also be limited to inter continental bank
plc, due to time constraint of the research.
1.7 LIMITATION OF THE STUDY
There are some limitation of this research though,
there limitation do not have significant influence on the reliability of this
study, there are:
a.
The time
factor in thin the researcher’s disposal is inadequate to thoroughly carry out
an in – deposit study
b.
Restricted
access to information and
c.
Financial constraints.
1.8 PROFILE
OF NIGERIAN DEPOSIT INSURANCE CORPORATION (NDIC)
The NDIC was established by the federal government
through decree No. 22 of June 15, 1988, but it started operation in February
1989. The 60 percent (60) of NDIC’s authorized capital of N 100 million while the federal government holds the remaining 40
percent (40). The NDIC was set up primarily to protect depositor from bank
failure there by promoting public confidence in the banking industry.
The affairs of the corporation are controlled by
the board of directors of which the governor of the CBN is the chairman. The
board also consist of a representation of the federal ministry of finance and
economic development (FMEED), the managing director and two executive directors
of the corporation.
1.9 DEFINITION
OF TERMS.
A. Economic Growth: this is defined as the rate of expansion of the
national income or total volume of production of goods and services of a
country
b. CBN: Central bank of Nigeria: this is
the Apex bank of the country. it is the bank of all banks of the nation CBN is
a financial institution established by the law or constitution of the country.
It is the bank of all banks of the nation CBN is a financial institution
establish by the law or constitution of
The country with the responsible or duty to manage and controlled all
money matter of the nation
c. NDIC: Nigerian deposit Insurance
Corporation: this is the corporation that is responsible for insuring the
deposit of all banks and other deposit taking financial institution licensed by
central bank of Nigerian (CBN). It is the corporations that assist the CBN in
the formulation and implementation of the banking policies with a view of
ensuring sound banking practices among others.
d. Depositors: - These are the person (s)
that keep or save money into the bank. Deposits are also known as bank
customers.
e. Deposits: - These are thing or money
which the depositions keep in the banks. Deposit are things that are been kept
in the bank.
f. Bank Stability: This defined as a
process in which a bank is stable in its operation. This is also a process of
bank regulation that is the operation or service of a particular bank is a
regular or not having problem.
g. Bank Failure: This the opposite of
bank stability that is the process in which a particular bank is having problem
in it operation or the system of a bank been liquidating it is the bank that is
no more operating or that has uncounted financial problem.
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