MANPOWER DEVELOPMENT IN BANKING AND FINANCE

1.0. Introduction Considering the recent distress and failure of some commercial, community and merchant banks as well as other non-bank financial institutions such as Finance houses, mortgage finance companies in Nigeria, it is high time that recruitment into the banking and finance sectors be based on professional qualifications and experience. The practice of using staff…

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NEGOTIABLE INSTRUMENTS-CHEQUES AND PROMISORY

1.0. INTRODUCTION In the last Unit we introduced you to a brief discussion of Negotiable Instruments and went further into a detailed description of Bills of Exchange noting the importance in today’s business of this negotiable instrument. We were able to learn that examples of Negotiable Instruments include: cheques, bills of exchange, bearer bonds, bearer…

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ELEMENTS OF BANKING/MERCHANT BANKING SYSTEM

1.0 INTRODUCTION Merchant banking occupied a very important position in the banking system of many economies of the world. It is a bridge between the traditional financial services rendered by the commercial banks and the development banks. The merchant banking system is designed to provide mainly medium-term funds and if ever, long-term to the economy….

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MICRO-FINANCEBANKING INSTITUTIONS

1.0 INTRODUCTION In this unit you will learn of the micro-Finance banking institutions as provider of financial services to the under privileged (poor) of our community who are traditionally not served by the conventional financial institutions. 2.0 OBJECTIVES At the end of this unit, you shall be able to:  Discuss the need for engaging in…

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NEGOTIABLE INSTRUMENTS-BILLS OF EXCHANGE

1.0. INTRODUCTION In this study unit, we introduce the student to Negotiable Instruments-the main instruments with which legally binding transactions are carried out in today’s world of business. In the olden days, trading as well as settlement of debt was effected by exchanging goods for goods in a system known as trade by barter. Due…

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BANK LENDING

1.0. INTORDUCTION Lending is concerned with granting of credit facilities to customers. The term ‘credit’ is derived from the Latin word ‘credere’ meaning to trust. Credit is thereby defined as the ability to source goods and services in exchange for a promise to pay back later. One of the Principal businesses of a bank is…

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LENDING AND CREDIT ADMINISTRATION

1.0 INTRODUCTION You would recall that, in the preceding study unit, the reasons for effective management of bank lending and credits are identified and discussed. The fundamental purpose for managing the funds under loans and advances effectively is informed by the fact that lending of funds to bank customers involves the use of the depositors’…

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NON-BANK FINANCIAL INSTITUTIONS

1.0 INTRODUCTION In this unit you will learn that Insurance Companies are major players in the Non-Bank Financial Services sector of the Nigerian economy. They are established under the Insurance Special Ion Rind (Amendment) Decree NO. 62 of 1992 took over the function of approving and licensing of Insurance Companies from the Federal Ministry of…

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INTERPRETING THE ACCOUNTS OF CUSTOMERS

1.0 INTRODUCTION In the previous Unit, we introduce the student to a major activity of banks which is Lending-its principle and cannons. In this Unit, we shall now unveil the Bank Customer and discuss further the Banker-Customer relationship. The types of accounts kept with the bank by the customer shall be briefly mentioned. 2.0 OBJECTIVES…

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DEVELOPMENT BANKING SYSTEM

1.0 INTRODUCTION In this unit you will learn of a development Bank as a financial institution primarily designed to provide medium to long-term credits to the economy. The emphasis is development because it is used by developing economy to help in key areas where conventional banks have short-coming in fulfilling their traditional functions. They take…

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