TABLE CONTENTS
Title page
Approval Page
Dedication
Acknowledgement
Table of Content
Abstract
CHAPTER ONE
INTRODUCTION
- Background of the study
- Statement of the problem
- Objective of the study
- Significance of the study
- Research questions
- Scope of the study
- Definition of terms.
CHAPTER TWO
LITERATURE REVIEW
- Summary of literature review
- Models and theories relevant to the research questions
- Current literature based on the variables of theories models, the present cheque clearing system
- Summary of literature review
CHAPTER THREE
RESEARCH METHODOLOGY
- Research design of the study
- Area of the study
- Population of the study
- Sample of study
- Instrument for data collection
- Validation of the instrument
- Method of Data presentation
CHAPTER FOUR
- Data presentation and analysis
- Discussion of findings
CHAPTER FIVE
- Summary of findings
- Conclusion
- Recommendation
- Suggestion for further research
REFERENCES
APPENDIX I
APPENDIX II
ABSTRACT
The Topic of this study is Appraisal of the bank clearing system and payment procedure in Nigeria banking industry, using the 23 commercial banks in the Nigeria banking industry as a case study. Challenges like low rate of responses towards the clearing system and poor supervisory effort of central bank plus problem of banks granting ineffective clearing services. The objective is to bring better method a central bank of Nigeria can use in supervising bank’s clearing system facilities and to bring to end the causes of low rate of responses towards the bank clearing system. The research believes that the outcome of this research work will be of great importance to Nigerian commercial banks and for the student for good study reference. Information from textbooks, journals and internet were used in data collection as secondary sources of data. The population used for the study were the twenty three commercial banks in Nigeria banking industry. The reports from these banks was presented and properly analyzed using tables. The researcher’s key findings are (1) Low rate of responses towards the clearing stem is a result of non-express nature of cheque clearance as stipulated by CBN directives. (2) Cheque clearance cycle may take up to four days and a lot of interparty procedures which is cumbersome and delaying (3) Problem of delay and cumbersome procedure in the clearing of cheque can be addressed by ensuring speedy delivery of cheques to participating bank clearing center (CPBCC) and transfer of data files to zonal clearing house as well as fast and secure delivery of item to indirect banks. Attempts should be made to shorten the days of these activities can be performed. The researcher suggested that further researcher be on the impact of bank credit in the various of Nigeria economy using commercial bank as case study
CHAPTER ONE
INTRODUCTION
- BACKGROUND OF THE STUDY.
Banking Industry in Nigeria started during the colonial era with the establishment of colonial bank with primary aim of meeting the commercial need of the colonial government. http://en.m.wikipedia.org/wiki/banking in Nigeria.
The Banking system in Nigeria is regulated by the central Bank of Nigeria and this apex bank started operations on July 1, 1959. In 1892, African banking corporation and British West Africa now first bank of Nigeria started operations. In 1925, Angloegyptian bank and national bank of South Africa gave birth to bar day’s bank in Nigeria. In 1948, the British and French bank for commerce and Industry started operation in Nigeria which metamorphosed in united bank for Africa. Toluwani (2014)
The first domestic bank in Nigeria was established in 1929 and it was called Industrial and commercial bank. The bank liquidated in 1930 and was replaced by mercantile bank in 1931. The Africa continental bank was created in 1949 as the only sustainable Indigenous bank after the liquidation of the Industrial and commercial bank. The year 1949 shows the emergence of an agricultural bank called the Nigeria farmers and commercial bank.
Uchechukwu (2013)
In order to promote the growth of capital and money market, the central bank was establishment in 1958 and it commenced business on 1st July 1959 with an Initial capital outlay of $ 3 million which was subscribed to and wholly paid up for, by the federal government of Nigeria. Samuel (2015)
- STATEMENT OF PROBLEM
Despite the great impact felt by the various sectors of the economy as a result of existence of banks, there is still need to appraise the banking clearing system and payment procedure in Nigeria banking Industry.
- PURPOSE OF THE STUDY.
The aim and purpose of this research work is to appraise the banking clearing system and payment procedure in Nigeria banking industry. We shall therefore try to:
- To find out the causes of low rates of customer’s response towards the clearing system and payment procedure facilities provided by the banks in Nigeria.
- To identify any cumbersome payment procedure in the clearing system and find adequate solution to resolve It.
- To find possible ways of improving effective clearing services delivery by bank to their customers.
- SIGNIFICANCE OF THE STUDY.
This research topic “Appraisal of the banking clearing system and payment procedure in Nigeria banking Industry is of great significance to all sectors of the Nigeria economy. This is due to the fact that no sectors can survive without adequate clearing system and payment procedure banks provides these clearing services through their various clearing facilities to the Nigeria economy.
Among others, this study is of paramount importance to the manufacturing process because with the help of bank clearing system and payment procedure facilities that is always granted to them. This study is also important to the government because it enables them to know the extent of bank clearing in the economy and it also helps the government to avoid formulating laws that are detrimental to banks and their various facilities.
Lastly this research work is of great significance to the academic Institution such as banking and finance as it enlightens the student on bank, clearing system and payment procedure facilities granted by bank in the Nigeria banking Industry.
- RESEARCH QUESTIONS.
In the process of carrying out this research work, the researcher has formulated the following research questions in order to appraise the banking clearing system and payment procedure in Nigeria banking Industry.
1). what are the causes of the raw rates of customer’s response towards the clearing system and payment procedure facilities provided by banks in Nigeria.
2). which of the payment procedure and clearing system and cumbersome.
3). How effective are these methods and means of granting clearing facilities.
- SCOPE OF THE STUDY.
The banking clearing system and payment procedure in the Nigeria banking Industry covers the Nigeria banking Industry.
- DEFINITION OF TERMS
Central Bank- The bank that control the financial affairs of a country by fixing main interest rate and issues currency.
Clearing- Refers to a system established to facilitate transactions or to settle payment among banks.
Clearing house- This is a central office for exchanging cheques drawn on various banks.
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