Last edited by Taulkree
Thursday, July 23, 2020 | History

1 edition of Customer protection in the Nigerian banking system found in the catalog.

Customer protection in the Nigerian banking system

Customer protection in the Nigerian banking system

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  • 6 Currently reading

Published by Development Economic Resource Ltd. in Apapa, Lagos .
Written in English

    Places:
  • Nigeria.
    • Subjects:
    • Banks and banking -- Nigeria.,
    • Consumer protection -- Nigeria.,
    • Deposit insurance -- Nigeria.

    • Edition Notes

      Statement[by D.E.R. Ltd.].
      ContributionsD.E.R. Ltd.
      Classifications
      LC ClassificationsHG3431.A6 C87 1995
      The Physical Object
      Pagination132 p. :
      Number of Pages132
      ID Numbers
      Open LibraryOL722718M
      LC Control Number97110026

      The consumers of this project will understand the development of Nigeria banking system, the problem facing it, cause of the problems and also means of preventing future problem in the system. PROPOSAL. Banking in Nigeria has gone through very changes within this decade. The industry has grown beyond optimistic expectation. The banking system in Nigeria started to stabilize with the regulation of banking, via the Banking Ordinance of , the establishment of the Central Bank in , and the Banking Decree of The situation was aided by the oil boom which commenced in the early s and brought along with it economic growth thereby making banking a.

      High yield investment fraud, also called prime bank fraud, involves issuing or trading prime bank, prime European bank, or prime world bank financial instruments that do not, in fact, exist. Fraudulent individuals or companies promise their victims huge profits . The Central Bank of Nigeria (CBN) said on Tuesday that it is considering adopting a template of fines and other sanctions against any bank found to have made illegal deductions or charges on.

      The laws of banking in Nigeria are fully expounded, and organised within the five main themes. Part one covers the banker and customer, and the introduction of banking in Nigeria; part two covers securities for advances; part three covers special incidents of modern banking; part four covers negotiable instruments; and part five covers bankers.   The failure of Nigerian bank lending The consolidation of and AMCON buy-out of shaped the banking industry we see in present-day Nigeria. Although the issues these two reforms sought to address—capital adequacy and asset quality (NPLs)—exist on a smaller scale, the banking system still fails one key fit-for-purpose test: lending.


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Customer protection in the Nigerian banking system Download PDF EPUB FB2

The banking structure in Nigeria can be divided into following parts. The Central Bank of Nigeria. The Central Bank is the apex and it Customer protection in the Nigerian banking system book responsible for regulating the banking system in the country.

This apex bank was established in March and started operations on the 1 st of July, Thursday, Novem AM / CBN The Central Bank of Nigeria (CBN) in furtherance of its mandate to promote stable financial system embarked on the development of a Consumer Protection Framework (CPF) to among other things engender public confidence in the financial system.

A sound financial system is critical to economic growth for any country, and a healthy banking system is a key component of this. Economic research shows that a well-functioning banking system helps accelerate economic growth and poverty alleviation, while poorly-functioning banks can impede economic progress.

During the last global recession inthe banking system was the central. Here, the author carefully traces the evolution of banking in Nigeria in broad periods from to as the first stage of banking evolution in Nigeria, to as the second stage and.

Consumer protection and enlightenment is a major aspect of CBN's mandate to promote a sound financial system and advocate good banking habits that.

Nigerian Banking Structure and Performance: The Banking System's Contribution to Economic Development C. Agu Africana-FEP Publishers, - Banks and banking - pages. ABSTRACT: Nigeria’s banking sector over the years witnessed series of regulatory frameworks for a safe, stable and efficient financial system.

This paper seek to explain the trends and impact of financial regulation on the Nigeria’s banking sector after the bank consolidation exercise in Activities of the regulatory bodies.

The late s and early s witnessed rising non-performing credit portfolios in banks and these significantly contributed to the financial distress in the banking sector. Also identified was the existence of predatory debtors in the banking system whose modus operandi involved the abandonment of their debt obligations in some banks only to contract new debts in other banks.

Where the customer chooses to complain depends on customer’s ease, location. Consumer protection act Under this Act, Section 2(1) (o) defines what service is and “deficiency” is defined under Section 2(1) g. Banking service is also. The Nigeria banking system still encounters a lot of problem, which has disrupted its operation in the country.

STATEMENT OF THE PROBLEM The problem in a nutshell includes such practices as fraudulent activities and mismanagement by bank officials poor, liquidity and unavailability of adequate credits to deserving customers.

GTBank's Internet Banking Service. GTBank keeps its tradition of customer-value-driven banking. With a strong service focus from inception, the bank has kept delivering on a promise of banking ease for customers.

Now you can take the bank with you right to your home, office or even on the road. 16 hours ago  It’s no longer news that Nigerian banks play a leading role in Nigeria’s financial system. However, the banking sector, which has over the years been the most liquid sector in the Nigerian stock market, has experienced significant price swings lately.

Also, based on recently released financial. They have some of the best customer services in the Nigerian banking industry and they are also poised to always meet up with customers’ expectations.

Fidelity Bank Established inthe Fidelity Bank of Nigeria has assets of around ₦ trillion (US$ billion) as of Ma and customer deposits of over ₦ billion. The recent consolidation exercise in Nigerian banking sector has drawn the attention of many banks to application of various technological devices in promoting/achieving better customer service delivery that guaranteed customer satisfaction that translates into increase profitability and higher return on investment.

The Nigerian Situation in relation to cyber activities concentrates efforts and attention on E-government services, payment platforms for e-Commerce, ATM Machines, Electronic Activities of the NSE, Cashless banking services and Nigerian Electronic Identification system which include among others, the INEC card reader system.

The legal backing for monetary policy by the Bank derives from the various statutes of the bank such as the CBN Act of as amended in CBN Decree No. 24 ofCBN Decree Amendments ,No. 3 of ,No. 4 of ,No. 37 of ,No.

38 ofand CBN Act of Section 12 Sub-sections (1) to (5), CBN Act of (Ammended). CUSTOMER SERVICE AND ITS IMPROVEMENT IN THE NIGERIAN COMMERCIAL BANKING INDUSTRY ABSTRACT This is a research work, which examines the improvement of customer service in the Nigerian Banking Industry. A case study of UBA Plc.

Agbani Road Enugu. To guide this study the following five research questions and two hypothesis tested were formulated: what are the. Consequently, Nigerian bank’s investments in information technology (IT) equipment have grown rapidly in the last ten years. There have been investments in computer hardware, software and telecommunication equipment, the corollary of which has been the introduction of Electronic Bank (E-Banking) in the Nigeria Banking Industry.

In Nigeria only 53% of the population is in the banking system. This has broader economic implications because e-banking is known to play a developmental role and because it allows poor people to.

The History of Nigerian Banking System. The existence of banks in Nigeria dates back as far as when the first Nigerian bank. came into being. There was no banking legislation until ; at that time, Nigeria had. three foreign banks and two indigenous banks with a collective total of forty branches.

The purpose of this study is to determine the effects of electronic banking on employees ’ job security in the Nigerian banking sector, with special reference to four selected banks in Lagos.The banking system therefore functions more efficiently and effectively when there is a robust and efficient payments systems infrastructure.

Moreover the concern to ensure a sound banking system by the Central Bank is underscored by the critical role of banks in national economic development.PROECT TOPIC: THE PROBLEM OF BANKING SYSTEMS IN NIGERIA includes abstract and chapter one, complete project material available THE PROBLEM OF BANKING SYSTEMS IN NIGERIA.

PROPOSAL Banking in Nigeria has gone through very changes within this decade. The industry has grown beyond optimistic expectation. Over the period, the number of banks expanded five fold, banking .