COMMUNITY BANKING AND ITS EFFECT ON THE DEVELOPMENT OF BANKING HABIT AMONGST NIGERIANS – A STUDY OF SELECTED COMMUNITIES

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COMMUNITY BANKING AND ITS EFFECT ON THE DEVELOPMENT OF BANKING HABIT AMONGST NIGERIANS – A STUDY OF SELECTED COMMUNITIES

ABSTRACT
For many years efforts were made to involve sub-urban and rural people
in Nigeria in modern banking practice, so as to intergrate the rural
community into the manstream financial system of the country. Apart
from encouraging establishment of commercial and merchant banks,
specialised development banks were created focusing on mortgage,
agriculture, savings, industry and other specific areas. Beyond this,
rural branches were made mandatory for the commercial banks so that the
interest of the rural people could br attracted and held in the conventional
banking system.
It is also a known fact that banking habit, particularly among semiliterate urban duellers and the illiterate rural populace is very low or
even non-existent in some areas. The fact that people still prefer to
carry-out their business transactions with cash and not through the banks
testify to this, as business actuaties in the Nigerian local markets,
with transactions running into hundreds of millions of Naira are being
carried out daily purely on cash and cerry basis.
This problem persisted over the years and led the government to seeking
acceptable solutions through its various agencies. The Central Bank of
Nigeria’s infuction that specific number of rural branches must be
opened by commercial banks, before approval is given to them to open
new urban branches, is the first major step. Today there are 756 rural
bank branches all over the federation, but have not been able to make
banking attractive to the people for whom they were established. The
government through the Directorate of Food, Roads and Rural Infrastracture
(DFRRI), come up with the idea of the Community Banking System (CBS)
with the aim of addressing the development and incalation of banking
habit among the rural peasants and the low income urban duellers.
The question is how effective was the policy in calculating the desired
banking habit among these classes of the citenzenry? That is to say
has the introduction of the community banking system made any significant
impact in this area?
Answer to the above questions is the primary concern of this research
work.

TABLE OF CONTENT

Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi

CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10

CHAPTER TWO

LITERATURE REVIEW – – – – – – -11

CHAPTER THREE

Research methodology – – – – – – -39
Design of study – – – – – – – -40

CHAPTER FOUR

Presentation, analysis and interpretation of data – -48

CHAPTER FIVE

Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69

COMMUNITY BANKING AND ITS EFFECT ON THE DEVELOPMENT OF BANKING HABIT AMONGST NIGERIANS – A STUDY OF SELECTED COMMUNITIES

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