IMPACT OF LEADERSHIP STYLES ON EMPLOYEES’ COMMITMENT IN UNION BANK PUBLIC LIMITED COMPANY,

ABSTRACT

This research work was design to examine the impact of leadership styles on employees’ commitment in union bank public limited company, Kaduna. The research work was divided into five chapter, chapter contain background to the study, statement of the problem, objective of the study, significance of the study and scope of the study. The chapter two review various authors and scholars on the subject matter. The chapter three deals with the methodology used in carrying out the research work. The population for the study is three hundred (300) staff, sample size of thirty (30) was selected for study based on Roscoe 10% rule of thumb. The instrument used in collecting relevant data comprises questionnaires, textbooks, journals, internet and records. The chapter four deals with analysis and presentation of data. The responses received in relation to the objectives of the research were tabulated analyzed and interpreted with the aid of statistical tools i.e. simple percentage. In the course of the research two hypothesis were used, the hypothesis states that Ho: Leadership styles has no significant impact on organizational productivity. H1: Leadership style has significant impact on organizational productivity. Finally, the chapter five comprises of summary of findings, conclusion and recommendation. The study revealed that, H1: Leadership style has significant impact on organizational productivity made, which include employees should be better encouraged to participate actively in the decision-making process by the management.

THE MATERIAL IDENTIFICATION AND CODING AS A TOOL FOR EFFECTIVE STORE HOUSE OPERATION IN AN ORGANIZATION

ABSTRACT

This research work was conducted to identify material identification and coding as a tool for effective store house operation in an organization (A Case study of PHCN, Kaduna). The research work was divided into five chapter, chapter contain background to the study, statement of the problem, objective of the study, significance of the study and scope of the study. The chapter two review various authors and scholars on the subject matter. The chapter three deals with the methodology used in carrying out the research work. The population for two hundred (200) staff, sample size selected was twenty (20) the selection was Roscoe 10% rule of thumb. The instrument used in collecting relevant data comprises questionnaires. The chapter four deals with analysis and presentation of Data. The responses received in relation to the objectives of the research were tabulated analyzed and interpreted with the aid of statistical tools like simple percentage. In the course of the research two hypothesis were used, the hypothesis states that H₁ Material identification and coding has significant impact on store house operation in an organization, H₀ Material identification and coding has no significant impact on store house operation in an organization. Finally, the chapter five comprises of summary of findings, conclusion and recommendation. 

THE CONTRIBUTION OF EFFECTIVE AND EFFICIENT RAW MATERIALS SOURCING IN A BEVERAGE MANUFACTURING COMPANY

ABSTRACT

This is a project which has been written on “The Contribution of Effective and Efficient Raw Materials Sourcing in a Beverage Manufacturing company.. A case study of international Beverages Beer Industry, Nnamdi Azekwe Express way Kaduna State. It is a common knowledge that effective material sourcing is one of the main tools use in production or manufacturing company for continuity and profitability. In the  course of this study, the researcher not only reviewed the related literature but also employed expletory research method for her work. The total population was about 70 out of which 20 were selected as sample size 15 management staff and 5 factory staff for the study. Data were collected through the use of questionnaire, personal interviews and observation were subtly used. Data were tabulated, analysed and presented through the use of chi-square. Hypothesis were tested Hi: Material Sourcing Increase Efficiency and Profitability. H0 Material Sourcing does not Increase Efficiency and Profitability of the hypothesis tested the alternative hypothesis (Hi) was accepted while the null hypothesis (Ho) was rejected. The major finding shows that the Company International Beverages Beer Industry (IBBI) carry out their purchasing functions. Based on the findings it has been recommended that the company should employed professional purchasing staff and train them in higher  institution for Increase in productivity and profitability 

IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON THE PERFORMANCE OF FLOUR MILL NIGERIA PLC

ABSTRACT

Corporate Social Responsibility is a wonderful but still new concept in the business arena. The researcher investigated what relationship exists between Corporate Social Responsibility and Organization Performance? What specific ways has the organization adopted in integrating the Corporate Social Responsibility strategy with its operations? And how can Corporate Social Responsibility strategy be improved upon in other to improve the organization’s performance? From the literature reviewed, some writers saw Corporate Social responsibly as a concept that businesses can adopt when they feel like, because according to them, there is no inherent benefits accruable from such practices whereas a majority of others are in support of it. In this study, the researcher has concentrated on the responses of the employees, whose decisions and actions improve or mar the success of the organization. To reduce the variableness and biasness, the researcher made use of primary and secondary data, questions were framed around these factors and responses to them were carefully noted. The statistical tool employed for analyzing the data collected for this research include simple percentage, mean and frequency distribution table. The Chi-square (X2) was used for testing the hypotheses to determine how respondents react to issue concerning Corporate Social Responsibility. The research analysis and conclusion were based on results of the interviews from Flour Mill, Kaduna. The results pointed out that there is a positive correlation between Corporate Social Responsibility and the growth and development of companies. The result also shows that the organization integrates Corporate Social Responsibility into its operations to improve organizational performance. Finally, the researcher recommends that Organizations’ code of business conduct should define ethical, legal as well as moral standards and expectation in its daily operations, organizations should take stakeholders’ needs into consideration while making operational decisions and they should maintain a caring workplace atmosphere in which people sincerely care about the well-being of others.

LEADERSHIP STYLES AND WORKERS’ PERFORMANCE IN DIAMOND BANK NIGERIA PLC

ABSTRACT 

The importance attach to leadership style in organization as an important factor for any organization to achieve its aim and objectives and likewise. The involvement of employee’s in achieving the objective gave me the impetus to carryout investigation in Diamond Bank Nigeria Plc Kaduna metropolis Branches. Study is designed to ascertain how different types of leadership styles affect workers performance in organization. The topic is leadership styles and workers performance in diamond bank Nigeria plc Kaduna metropolis branches. The study will be divided into five (5) chapters in accordance with the approval and guidelines of Kaduna polytechnic on project. Chapter one will examined the background of the study, statement of the problems, objective of the study, statement of hypothesis, significance of the study, scope and limitation of the study, history of Diamond Bank and definitions of terms. Chapter two will attempt to review related literature to the subject matter by consulting existing information, knowledge and fact written by various authors and scholars. Chapter three will show the method of data collection. The researcher used questionnaire method this is decided so as to cover wider distance and reach various people from whom information is required. 

IMPACT OF EMPLOYEE DEVELOPMENT PROGRAMME ON PRODUCTIVITY IN IDEAL FLOUR MILLS LTD KADUNA

ABSTRACT

The project is titled the Impact of Human Resource development Programmes on worker’s productivity in Ideal flour Mills Limited Kaduna. The aim and objectives of this research work is to identify the need of developing employee programnme in an organization and also to examine the problem of developing employee productivity for efficiency. The challenge in the Industrial Sector has posed a threat on the realization of its development and the achievement of it’s set objectives. This is as a result of fundamental issues of inadequate and improper acquisition, utilization and maintenance of its human resource. The researcher used primary and secondary method of data collection. The researcher administered questionnaire as the instrument of data collection and also make used of some journal papers and textbooks for the research work. The researcher concluded that there is low level of education on the part of their casual staff thereby endangering the lives and aspirations of the individual. Also, a lot of money is being consumed when you are going to place of learning one are hand and their lecturer in the order hand. Therefore, the researcher recommended that the management should always lay emphasis on effective recruitment and selection of workers.

AN ANALYSIS OF THE INFLUENCE OF MOTIVATION ON WORKERS` PRODUCTIVITY IN AN ORGANIZATION

CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

Managing involves the creation and maintenance of an environment for the productivity of individuals working together in groups towards the accomplishment of common objectives. It is obvious that a manager cannot do his job without knowing what motivates people. The necessity of building motivating factors into organizational roles, the staffing of these roles, and the entire process of directing and leading people must be built on the knowledge of motivation. The job of managers is not to attempt to manipulate people but rather to recognize motivating factors in designing an environment for productivity.

The basic element of all human behaviour in some kind of activity, which may be physical or mental. We can look at human behaviour as a series of activities. The question arises as to what activities human beings will undertake at any point of time, and why. It is known that activities are goal-oriented, that is, people do things that lead them to accomplish something. However, individual goals can be elusive. Sometimes people know exactly why they do things; often. The truth is that individual drives lie buried in the subconscious. For example, do you know why you did what you did today and what all your various activities were designed to achieve?

The primary task of managers is to get people to contribute or carry out activities, which help to achieve the mission and goals of an organization or of any department or other organized unit within it.

Clearly, to guide workers` activities in its desired directions requires knowing, to the best of any manager’s ability, what leads workers` to do things, what motivates them. Motivation explains why people at work behave in the way they do in terms of their efforts and the directions they are taking. It describes what organizations can do to encourage workers` to apply their efforts and abilities in ways that will further the achievement of the organization’s goals as well as satisfying their own needs. It is also concerned with job satisfaction, the factors that create it and its impact on productivity.

In understanding and applying motivation theory, the aim is to obtain added value through workers` in the sense that the value of their output exceeds the cost of generating it. In most, if not all roles there is scope for workers` to decide how much effort they want to exert. They can do just enough to get away with it, or they can throw themselves into their work and deliver added value. Discretionary effort can be a key component in organizational productivity.

Unfortunately, approaches to motivation are too often underpinned by simplistic assumptions about how it works. The process of motivation is much more complex than many workers` believe. Workers` have different needs, establish different goals to satisfy those needs and take different actions to achieve those goals. It is wrong to assume that one approach to motivation fits all. That is why the assumptions underlying belief in the virtues of productivity related pay as a means of providing a motivational incentive are simplistic.

STATEMENT OF THE PROBLEM

Motivation in an organization is a very important factor in encouraging workers` for greater productivity. When workers` are motivated it is assumed that they will put in more effort in their work and efficiency and commitment will be maintained. Organizations that give greater productivity to their workers` always have profit and the moral of the employees are always high.

Unfortunately, some organizations do not consider motivation as an important issue for instance, it seems that GTB do not have a lay down strategy for motivating their workers` such strategy could be giving their workers` bonuses at the appropriate time when they are in need and encouraging them for greater achievement. It also appeared that GTB has deliberately refused to implement some incentives that can motivate their workers’. Consequently upon this workers` of GTB seem to be discouraged and not committed to their work and most of them are agitating to live the organization. Because of the importance of GTB in boosting Nigeria economy and also the fact that most workers` are dissatisfied this research is necessary to find out whether motivating factors are been implemented in GTB.

OBJECTIVES OF THE STUDY

The general objectives of the study is to analyze the influence of motivation on workers` productivity in an organization.

The specific objectives of the study are: -

To investigate the specific factors that give workers job satisfaction in term of motivation on GTB.

To find out why management has refused to motivate workers` adequately.

To examine how organization can motivate its workers` towards achievement of its goals and provide job satisfaction for the workers.

STATEMENT OF HYPOTHESIS

The study shall be guided by this hypothesis, thus;

H0:    There is no specific factor that motivate workers` and give job satisfaction.

H1:    There is specific factor that motivate workers` and give job satisfaction.

SIGNIFICANCE OF THE STUDY

The significance of the study is seen from the following:

The study is very useful to employers of labour generally as various concepts of motivation and workers` welfare are adequately addressed.

The study will also be of importance because it is a requirement for the award of HND in Human Resources Management and also students who are interested in knowing the influence of motivation on job satisfaction can use this study as a point of reference.

SCOPE OF THE STUDY

The primary data obtained for the study is limited to GTB. While the secondary include the one of books, journals, internet, magazine etc.

LIMITATION OF THE STUDY

The constraints faced by the researcher is the unwillingness of the officers to release certain information for the research study and on the part of the research, there is the problem of limited time for the research work and financial problems too.

DEFINITIONS OF TERMS

The definition of some of the terms used in the content of this project is given below;

Motivation:- This is concerned with the factors that influence people to behave in certain ways.

Workers:-  This is a person who works, especially one who does a particular kind of work.

Organization:- These are group of people that come together to achieve a particular aim.

Influence:- It is the power that someone has to make somebody or something behave in a particular way.

vi.      Analysis:- The detailed study or examination of something in order to understand more about it.

ASSESSMENT OF THE IMPACT OF LEADERSHIP STYLES ON EMPLOYEE PRODUCTIVITY OF KADUNA REFINERY AND PETRO-CHEMICAL COMPANY

ABSTRACT

This study focus on the assessment of leadership styles and its impact on employee productivity. In order to achieve the objectives of the study, the chapter one of the study laid a solid background, statement of the problem, objectives, questions and its significance to the society. In addition, chapter two deal with the related literature of various authors and scholars who wrote about the subject matter under consideration. Chapter three focus on various design and methods in attempt to establish relationship between leadership and procurement staff productivity. A population of 175 was chosen from the management staff and employee of KRPC out which 133 was adopted as the sample size that was administered randomly to the sample element for their response. A 4 point likert approach was adopted for data analysis with a 2.5 cut off point. It was discovered that leadership play a significant role in the productivity of procurement staff, and necessary conclusion were drawn and was recommended that adequate incentive and motivations should be given to employee in order to spur them towards productivity.

x

APPRAISAL OF THE USE OF COMPUTER IN INVENTORY CONTROL SYSTEM IN A MANUFACTURING ORGANIZATION

ABSTRACT

The primary objective of this research work, Appraising the use of computer in inventory control system in manufacturing organization is to carry out paper investigation as regards the awareness and reaction of people concerning the project topic, taking Peugeot Automobile Plc Kaduna as a case study.

The write-up center on discussing inventory control system, computer and also the problem of manual inventory control system in an organization.

In order to achieved this goal, the researcher uses questionnaire method of data collection to gather information about the subject matter, from general/inventory staff of Peugeot Automobile Plc.

Hence the data gathered are presented and analyzed in a tabular form in order to give vivid and clear interpretation.

Finally the researcher summaries his findings, draw a conclusion and gave necessary recommendation for Peugeot Automobile and other companies who have not yet computerized their inventory system.

ASSESSMENT OF THE IMPACT OF TRAINING ON EMPLOYEE JOB PERFORMANCE

ABSTRACT

This project is an exploratory attempt to assess the impact of training on employee job performance. The researcher examined the historical background of the study and the subject matter, the objective, significance and the scope of the research was well examined in the first chapter. In the second chapter the researcher was able to reveal some selected views of authors, based on primary data (personal interview and questionnaires) and secondary data (official records). The study is not an exhaustive one due to time factor (constraints) on the course of preparation. But the researcher has tried to highlight the major aspect of the objective of training and development in a way, it could still provide for an input to develop a deeper analysis of the subject matter in the industry in doing this, the work has been grouped into five main chapter. In the first two chapters, the historical background was discussed so as to have an in-depth and a clear understanding of the topic, and also the research show the importance of training and development of personnel in the organization while chapter three show method of data collection chapter four and five analysis and recommendations conclusions, conclusion and references of the project.

THE IMPACT OF INDUSTRIAL CONFLICT ON ORGANIZATION PERFORMANCE

ABSTRACT

This research work examines the impact of industrial conflict on organizational performance with a particular reference to Kaduna Polytechnic, Kaduna.  Hence, the scope of the research will cover every are, which has to do with industrial relations and managing employment relationship.  The work cover statement of the general problem, objectives study, significance of the study and the  limitations and scope of the study..  Also diverse views of authors on industrial conflicts and means of conflict resolutions. This research employ both descriptive and exploratory research method for the purpose of an indept investigation.  A sample size of 80 was used, 80 questionnaire was administered to respondent.  The researcher conducted oral interview. The hypothesis also proved that industrial conflict has significant impact on organizational performance.  Based on our findings and expected conclusions necessary recommendations were given to forestall future conflict situation in the organization. The researcher therefore recommend that collective during collecting bargaining the management should treat or deal with the works representative in good faith and also ensure proper implementation and administration of the collection agreement.

THE IMPACT OF BRANDING STRATEGIES IN SALES OF CONSUMER PRODUCTS,

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

The word brand originated from the word TO BURN, which later passed into old English as BIERMAN and old French as BRINIER. The words quickly move from literal to metaphorical. The practice of marking or given identification to animals led to brand as a mark of ownership (Wells, Farley and Armstrong, 2007).

The success of any business or consumer product depends in part on the target markets ability to distinguish one product from another (Koll and Wallpach, 2009). Branding is the principal instrument used by marketers and companies to distinguish their products from that of competitors. It is regarded perhaps that, the most distinctive skills of professional marketers is their ability to create, maintain, protect and enhance brands. For centuries, business people have been devising ways to identify their wares and to distinguish them from those of competitors. Pictures were used in the early years because many potential customers were illiterate. Meaningless product names such as Kodak as created in 1988 by George Eastman, however, branding goes beyond just choosing a product name. In effect, a brand can encompass a name, a phrase, a design, a symbol or any combination of these so as to distinguish one product from another (Koll and Wallpach, 2009). A brand name is that portion of the brand which can be spoken, including letters, words or numbers. A brand mark is that portion of the brand that cannot be expressed verbally, such as a graph design or a symbol. Some of the worlds most recognize brands are Mercedes-Benz. A brand mark is often referred to as logo, but it must be noted that a logo can also refer to distinctive type or style such as coca- cola‟s elegant script. Many companies offer several brands under one company name. In developing a marketing strategy for individual products, the responsibilities rest on the shoulders of the seller to confront the branding decision. In product strategy, branding is one of the most important issues that must be considered (Koll and Wallpach, 2009).

This research work intends to identify the effect that brand (name) have on company‟s profit. It is of great importance that companies create a name that could easily be identified by target market and also helps to distinguish the product in question from those of competing products. Brand is defined as name, term, sign, symbol or combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors (Wonglorsaichon and Sathianrapabayut, 2008).

Branding begun many centuries before the word acquire its modern usage. The ancient Greek and Romans had various forms of promoting their goods. Messages would be written informing the public that this man who lived over there at this address could make shoes or was a scribe. In the early periods, advertising and marketing in the literal sense was done on personal basis with the name of particular individual as important as that of his products or services. The modern development of this can be seen in the name of a private shopkeeper over his shop. Some of the best name chain store names have originated as that over a single establishment. In the earliest days, shops as distinct from individuals were quick to sell their goods by using pictures. For example, in Rome, a butchers shop would display a sign depicting a row of hams, a shoemaker, one of a boot. Such pictorial promotion was the forerunner of many shops which are still familiar today. A more sophisticated and literate age has led to the use of virtual signs and pun to suggest and suggest the brand name concerned. Since the earliest times, producers have used their brands or marks to distinguish their products.

In any business organization, the choice of a brand is a very critical decision as the name affects customers‟ image and attitude towards the product and the firm. Thus, it is a contributing factor in making it a winner or loser in the competitive market. This suggests that organizations should consider a number of factors when selecting a brand name, which is one of the most difficult tasks in marketing operations. Branding should therefore, improve the company‟s image, boost sales and increase profits. It could therefore result into a strong and healthy relationship between the introduction of new brands and increase on return and investments (Asika, 2006).

This study primarily focuses on impact of branding strategy on sales of consumer products of Coca-Cola. This is with a view to highlighting the various branding strategies put in place by organizations to build, sustain and enhance profitability as well as assessing its impact on the firm.

1.2     STATEMENT OF PROBLEM

Branding is an important issue in any organization. This is because without a proper branding of a firm’s products, it’s difficult for the firm to run its operation smoothly for profit. As consumer become more sophisticated, manufacturers place more emphasis upon promoting their brands directly to consumers (rather than to distributors) spending considerable sums on advertising the high quality of their products thus profitability. Furthermore branding has been a major issue especially in developing countries. As a result in order to explain the relationship between branding and profitability in developed countries (Asika, 2006).

 However, despite the above importance this issue failed to attract the attention of researchers in Nigeria. Thus, while searching on internet, browsing through the books and journals the researcher didn’t find directly related research topics carried out in Nigeria (Asika, 2006).

Producers believe that they will be less susceptible to demand from distributors for extra discount to stock their brands. For some products (e.g.) perfumes and alcoholic drinks), considerable effort has been devoted to promoting brands to reflect the personality of their likely purchasers. Marketing research has indeed shown that for these products consumers can be persuaded to buy brands that enhance the image they have of themselves. Manufacturers believe that if they invest in the quality of their brands they will build up a brand image to which consumers will respond by asking for their foods by their brand names and by being willing to pay a premium for them (Topoyan and Bulut, 2008).

Therefore the researchers believed that the problem is almost untouched and there is a knowledge gap on the area. It is against this background that the research seeks to investigate whether branding adds to the profitability of manufacturing company.

1.3     OBJECTIVE OF THE STUDY

The broad objective of the study is to examine the impact of branding strategy on sales of consumer products of Coca-Cola. The study also have the following specific objectives:

1.       To evaluate the different branding strategies adopted by management of Nigerian bottling company.

2.       To identify the extent that product branding has led to increased in profitability and return on investment in the company.

1.4     RESEARCH HYPOTHESIS

H0: Branding has no significant effect on the profitability of Nigerian bottling company.

H1: Branding of products has a significant effect on the profitability of Nigerian bottling

       company.

1.5     SIGNIFICANCE OF STUDY

This study by its substantive examination of past literature has contributed to the richness of the past studies. Furthermore, it has reinforced some past knowledge, updated information in studies relating to branding and how it enhances profitability in a manufacturing industry. However, it does not pretend to be a new breakthrough in the frontier of knowledge. This work can be retrieved for use by other researchers and writers particularly in related fields such as the social science and psychology. For these stated reasons, it is hoped that the effort and time expended on this study has been worthwhile.

1.6     SCOPE OF STUDY

The study limits its scope on the manufacturing sector of Nigeria only and precisely on how branding in a manufacturing sector enhances profitability (case of Nigeria Bottling Company). Here, attempts are made to look at concept of branding, product branding, branding strategy, effects of product branding or their significant contribution on organizational profitability.

1.7     OUTLINES OF CHAPTERS

This study is aimed at examining the impact of branding strategies on sales of consumer product in Coca-cola, Kaduna. The research work, therefore, is divided in to six chapters. Chapter one deals with general introduction which provides a background to the study, statement of research problem, purpose of the study, significance of the study, hypothesis, scope and limitations of study, and definition of key terms. Chapter Two deals with literature and theoretical framework including branding defined, Product branding, Branding Strategy, Effects of Product Branding on Sales, Principles of Branding.

Chapter three covers research methodology. Chapter four, deals with presentation and analysis of data, test of hypothesis and discussion of findings. Finally, chapter five covers summary, conclusion, recommendations and suggestion for further studies.

AGRICULTURE AND NATIONAL DEVELOPMENT: CHALLENGES FOR THE NORTH WEST ZONE OF NIGERIA

ABSTRACT

1.     The research is about the development of agriculture in Nigeria: challenges for the North West Zone of Nigeria.  The study set to determine the efforts made by past and current governments at agricultural development in the country.  The research assessed the performance of the sector and effects of these on the economy.  The challenges of agricultural development were also identified.  The ways of developing the sector so that it can compete with the oil sector was then proffered.

2.     The researcher used both primary and secondary sources of information for the study but with a greater reliance on the latter. The analysis of data and Interview was used as part of the information to collate the challenges to agricultural development in the rural areas.  The study revealed that there had been several efforts at agricultural development.  The measures include policies and programmes.  An assessment of the effects of these measures shows that agriculture declined from its premier position giving way to oil as the dominant sector of the economy.

3.     Some challenges to agricultural development in the North West Zone were also identified.  They include low budgetary allocation, inaccessibility to credit by farmers, and inadequate supply of inputs.  The strategies for agricultural/development in the North West Zone of Nigeria, an antidote to these challenges like increased budgetary allocation, accessibility to credit and adequate supply of inputs to farmers were discussed. The Government should also adopt favourable policies in order to increase agricultural production.

4.     Finally, the study made recommendations which would improve agricultural development in the North West Zone of Nigeria. This is with the aim of developing the Nigerian Economy in addition to the oil sector.

LEADERSHIP AND GOOD GOVERNANCE IN NIGERIA: ISSUES AND PROSPECTS

ABSTRACT

The study set out to determine the relationship between leadership and good governance as well as examine the effects of leadership on good governance in Nigeria within the first decade of the Fourth Republic. It also sought to identify the issues, challenges and prospects associated with leadership and good governance, and proffered strategies that would ensure that leadership facilitates good governance in Nigeria. The field survey method and secondary analysis were used for the study. The field survey method was to obtain public perception on the subject matter using open ended questionnaires and unstructured interviews. The questionnaires were issued to respondents within Jaji and Kaduna, which is considered a microcosm of Nigeria. The data obtained were analysed to determine how leadership can be strengthened towards ensuring good governance in the polity. The study found out that political leadership has been seriously bedeviled by electoral problems, corruption and dishonesty among others leading to mismanagement of resources and poor infrastructural development. Some of the identified challenges include delayed prosecution of corrupt officials, lack of grassroots development, poor budget implementation and lack of dedicated national fund. Others are abuse of the electoral process, demand for undue loyalty, insecurity and negative orientation to leadership. Far reaching strategies were proffered to mitigate the challenges including multi-pronged anti-corruption package, enhancing grassroots development, funding of capital projects and improvement of security among others. Finally, the study recommended the removal of the Immunity Clause from the Constitution of the Federal Republic of Nigeria (CFRN). Others are the commencement of electronic voting system towards improved elections, independent candidacy during elections and national reorientation towards leadership. These if achieved would reposition Nigeria on the path of development, good governance and greatness in line with her Vision 20:2020.

IMPACT OF THE GLOBAL FINANCIAL CRISIS ON THE NIGERIA ECONOMY

CHAPTER ONE

INTRODUCTION

1.1       Background of the Study

Living in isolation is not the best option for countries in the 21^st country, hence globalization has provided a platform from which happenings in one country can have profound effects on the others especially those that are more involved in the financial market of the world.

Globalization refers to increasing global connectively, integration and interdependence in the economic, social, technological, cultural, and ecological spheres, that is increasingly landing peoples, companies, countries and the biosphere more tightly into pone global system. One of the major adverse effects of globalization in the economic and financial crisis which started in the United State in September, 2007 and has rattled the financial market both the developed and developing economies around the globe. The contagious effect is associated with the fact that world economics are interlinked (global village) such that any economy could be affected through international trade; the dependence of countries on industrial countries for remittance, Official Development Assistance (ODA) and Foreign Direct Investment (FDI). The make up the transmission mechanisms through which the global financial crisis trickled down to developing like Nigeria. The US is largest economy in the world, and many foreign countries including advanced economies invest there. The major industrialized economies provided significant investment to emerging market, accounting for more than 85% of the global out world FDI stock, as a consequence, there are trade and investment linkage between the economics of the USA, advance countries and emerging markets. The financial crisis of 2007-2008 also known as the global financial crisis became heightened in the US in the early 2004 until mid-2007 when it escalated. The crisis is rooted to the mortgage loan crisis which was believed to have been worst since the great depression of 1930’s given the collapse of the large financial institutions, the bailout of banks by national governments, and downturn in stock markets around the world.

At the onset of the crisis, the initial view was that Africa was “decoupled” from the crisis. Schiere (2010) provide two reasons for this view point. Firstly, Africa has limited exposure to the crisis as the continent is not fully integrated into global financial system. Secondly, the growing relationship with Asian countries, in particular china and india, made Africa countries less reliant on traditional development partners, which are suffering from a severe economic contradiction. However this perception proved wrong as the financial crisis did affect Africa, leading to drop in the GDP growth to 20% for 2008, 41% from 2009 and 52% from 2010 (Africa Economic Outlook, 2010). Thus, in late 2008, African countries were not only facing the problem of poverty, inequality, rising commodity price but also growth and labour market problems were added to their structural crisis. Prior to the crisis, the Nigeria economy has witnessed some developmental programs such as the Structural Adjustment Programs (SAP) 1986, Millennium Development Goals (MDG’S) 2001, National Economic Empowerment and Development Strategy (NEEDS) 2001, amongst other sectarian programs. This programs has targets that were distorted by the 2007 crisis. During periods of downturn there are calls for government and other financial institutions to step in to cushion the worst effects of the slowdown in economic activities. The 2007 global recession saw governments around the world making announcements of fiscal stimulus packages to help boost aggregate demand. The freezing of credit market effectively marked the star of intervention by the central banks around the world. In addition to consideration casing of monetary policy across the world, government, in consultation with the central banks, stepped into provide financial support for a wide range of businesses and financial institution together with other fiscal stimulus. In 2005, Nigeria implemented the bank capitalization policy of compelling bank have minimum capital of 25 billion naira that went a long way to put the financial sector on a good path during the financial crisis. This policy may have savage the financial sectors from collapsing totally but its effect could be felt in some sectors (Agu and Yuni, 2011). Thus, the benefits of each packages and weather they amount to a stimulus have been called into question and aroused much debate among economists.

The pursuit of growth, development and creation of employment opportunities by countries shows how important these macroeconomics indicators are to the economy of countries, hence the goals of macroeconomics policy are:

a)     A high and growing level of national output; high levels and rapid growth of output and consumption (output is usually measured by the gross domestics product (GDP), which is the total value of all final goods and services produced in a  given year; also GDP should be high to potential GDP, the maximum sustainable or high employment level of output).

b)    High employment with low unemployment; low unemployment rate and high employment, with ample supply of good jobs.

c)     A stable or gently rising price level or inflation.

Economists evaluate the success of an economy’s overall performance by how well it attains these objectives. Thus based on the above discussion, this study is an attempt to find out the impact of the global financial crisis on Gross Domestic Product in Nigeria.

1.2     Statement of the Problem

Development of the financial system is crucial to the growth of an economy. It leads to the emergence of industries since it finance part of their activities. Financial sector contribute in accelerating the growth of other sectors that lead to economic growth in the long (Levine, 1997). In Nigeria financial system has no doubt made remarkable impact on the country’s GDP. Yet, in 2008, the financial system has not fared better, as unprecedented recession has taken it by force causing untold losses and decline in stock prices to investors and further creating crisis of confidence about the competence of the regulatory authorities to handle the situation. The aftermath of the economic meltdown is still felt by the financial system since the bailout packages by various governments do not seems to be much effective. Nigeria was not immune to the financial crisis especially considering the loss of substantial revenue rising from the fall in oil prices (Iweala, 2009).

Therefore, this study is aim to examine whether the periods of Global Financial Crisis and its aftermath has any significant impact on Nigerian economy.

1.3     Research Questions

a)     What are the impacts of domestic credit by banks on the Gross Domestic Product in Nigeria?

b)    What are the effects of foreign direct investment on Gross Domestic Product in Nigeria?

c)     What are the causes of financial crises in Gross Domestic Product in Nigerian Economy?

 1.4    Objectives of the Study

The broad objective of this research is to analyse the impact of the global financial crisis on the Nigeria economy.

          The specific objectives are:

a)     To examine the impact of domestic credit by banks on Gross Domestic Product in Nigeria.

b)    To evaluate the effect of foreign direct investment on Gross Domestic Product in Nigeria.

d)    To investigate the causes of financial crises in Gross Domestic Product in Nigerian Economy.

1.5     Significance of the Study

The study is carried out to provide an insight and improve public knowledge on the impact of global financial crises to the Nigeria economy. The study is also aimed to improved and add to the existing literature on the subject matter and a good source of reference for students, researchers, policy makers and economists who may want to know the extent to which he financial crises affects the economy it will help to prevent reoccurrence of such financial crisis in the future.

1.6     Scope and Study Area

It is noteworthy that every research work has its own scope and area of interest. However, the study essentially would cover the effects of the global financial crisis on Gross Domestic Product in Nigeria economy from year 1991 to 2014, which is a period of 23 years. The data set provided is yearly and the key variables to be considered are GDP growth, domestic credit by banks and foreign direct investment.

1.7     Chapter Organization

The study will be organized in five chapters. Following the introduction in Chapter One, Chapter Two contains the literature review of some work done by others which are relevant to this research. It also discusses the causes of the crises and relevant theories related to the study. Chapter Three presents the methodology that will be adopted in carrying out the research as well as the sources of data. The study however will made the used of trend and Ordinary Least Square (OLS) method that will cover a period of twenty three years. Chapter Four deals with data presentation, analysis and interpretation of results based on the statistical techniques used in the study within the periods under consideration. Chapter Five concludes the research by presenting the summary, conclusion and recommendation of the researched work respectively.

THE EFFECT OF CORPORATE GOVERNANCE CODE ON THE PERFORMANCE OF MONEY DEPOSIT BANKS IN NIGERIA

CHAPTER ONE

INTRODUCTION

1.1   Background of the Study

The concept of corporate governance has attracted a good deal of public interest in recent years, because of its apparent importance on the economic health of corporations and society in general basically, corporate governance in banking sector requires judicious and prudent management of resources and the preservation of resources (assets) of the corporate firm, ensuring ethical and professional standards and the pursuit of corporate objectives; it seeks to ensure customer satisfaction, high employee moral and the maintenance of market discipline, which strengthens and stabilizes the bank? Recently, the banking industry in Nigeria has been encountering serious reforms over the past years arising from the Central Bank of Nigeria’s requirement for banks to increase their capital base (share to a minimum level of twenty five billion naira (N25 billion), (Ogeechee 2014). This triggered off several mergers and acquisition that have reduced the number of banks from eighty nine (89) to twenty five (26) banks as at the beginning of 2014 (Kama, 2015) it is imperative to note that at the end of the consultation exercise, the total capitalization (the value of all equities of the banks came to N9970 billion compact to the figure of N572 billion before the commencement of the programme. (CBN annual report 2014)

However, the successful banks accounted for about 93.5% and 87% of the total deposit liabilities and assets of the banking system respectively. (CBN annual report 2014). Before the consultation exercise, the banking industry had 82 active banks whose overall performance led to sagging of customer’s confidence, as there was immerging distress in the industry. The supervisory structures were inadequate as there were cases of official recklessness amongst managers, and the industry was notorious for financial abuses. However CBN blacklisted six (6) officers of banks, including a chairman and a non executive director for unethical practices and professional misconduct.

Corporate governance is designed to promote a diversified strong and reliable banking sector which bill ensure the safety of depositors money and also to explore the relationship between internal corporate governance structures and the performance of money deposit banks in Nigeria. Corporate governance involves monitoring and overseeing strategic direction, social-economic and externalities and constituencies of the institution.

In view of the above background this study investigates corporate governance in money deposit bank.

1.2      Statement of Problem

Money deposit banks and other financial intermediaries are at the heart of world recent financial crisis. The deterioration of their asset portfolios largely due to distorted credit management was one of the main structural sources of the crisis (Sanusi, 2010,Fries, Neven and Sea Bright, 2014 Kashif 2015). To a large extent, this problem was the result of poor corporate governance in countries including Nigeria.

Schjoedt (2014) observed that this poor corporate governance, in turn was very much attributable to the relationships among the government, banks and big business as well as the organizational structure of business; this weak corporate governance is also seen manifesting in form of weak internal control measures, absence of or non adherence to units of authority, insider abuses and fraudulent practices remain a worrisome feature of the banking system.

Poor corporate governance is also seen manifesting inform of un ethical or non conformity to the code of conduct  which hinder the corporate bodies, authorities and other shareholder to aid information and right of the institution 

In Nigeria, among the few empirically feasible studies on corporate governance are the study by Sanda et al (2014) and Ogbechie (2015) that the studied the corporate governance mechanisms and firm’s performance, in order to address these deficiencies, this study is not restricted to the framework of the organization for Economic co-operation and development principle, which is based primarily on shareholder sovereignty. It analyzed the level of central bank of Nigeria code of corporate governance.

Finally, while other studies on corporate governance neglected the operating performance variable as proxies for performance, this study employed the accounting operating performance variable to investigate the existence if any relationship between corporate governance and performance of banks in Nigeria      

1.3      Objectives of the Study

The major objective of the study is the effect of corporate governance codes on the performance of money deposit banks in Nigeria. The specific objectives are to determine:

1.     The need for corporate codes for money banks

2.     The benefit of corporate codes in Ecobank Plc

3.     The obstacles to adherence to corporate codes in Ecobank plc 

4.     The strategies for effective adherence to corporate codes in Ecobank plc 

1.4   Research Questions

To proffer useful answers to the research questions and realize the study objectives, the following questions are stated.

1.     What are the needs for corporate codes for money deposit banks?

2.     What are the benefits of corporate codes in Ecobank Plc?

3.     What are the obstacles to adherence to corporate codes in Ecobank plc?

4.     What are the strategies for effective adherence to corporate codes in Ecobank plc? 

1.5   Significance of the Study

The beneficiary of corporate governance codes on the performance of money banks and how they benefit

Government:  Government will also benefit from the finding of the study with the knowledge of the positive effect of corporate governance in the economy, government will be able to make decision and policies which are favorable to bank and the economic as a whole.

 Shareholders: Shareholders play a key role in the provision of corporate governance. Small or diffuse shareholders exert corporate governance by directly voting on critical issues, such as mergers, liquidation, and fundamental changes in business strategy and indirectly by electing the boards of directors to represent their interest and oversees the myraid of managerial decisions to be taken by the management of the organizations, may negotiate managerial compensation with a view to achieving particular results. 

Debt Holders Debt purchasers provide finance in return for a promised stream of payments and a variety of other covenants relating to corporate behavior such as the value and risk of corporate assets. If the corporation violates these covenants or default on the payments, debt holders are to effectively exert corporate governance as envisaged. Small debt holders may be unable to monitor complex organization and could face the free-niter incentives, as small equity holders. Also, the efficient exertion of corporate control with diffuse debts depends   largely on the efficiency of the legal and bankruptcy systems.

1.6   Scope of the Study

Considering the year 2016 as the year of formation of post consolidation governance codes for the Nigeria banking sector, this study investigates relationship between corporate governance code and financial performance of money deposit banks in Nigeria.

The choice of this sector in based on the fact that the banking sectors stability has a large positive externality system and banks are the key institutions maintaining the payment system

 of an economy that is essential for the financial sector. As to these the scope of the study is based on the  needs for corporate codes for money deposit banks, the benefits of corporate codes in Ecobank Plc, the obstacles to adherence to corporate codes in Ecobank plc, the strategies for effective adherence to corporate codes in Ecobank plc.

The work is restricted to the case study, Ecobank Plc, Ungwa Sanusi Branch, Kaduna, which will lasted for the period of four years (2016 -2019)

Further more; the project focused on money deposit bank because corporate governance problems and transparency issues are more important in the banking sector due to crucial role in providing loans to non financial firms, in transmitting the effects of money to any pulley and in providing stability to the economy as a whole.

1.7      Historical Background of the Study

Ecobank Transnational Incorporated (ETI), a public limited liability company, was established as a bank holding company in 1985 under a private sector initiative spear head by the Federation of West African Chambers of Commerce and Industry with the support of ECOWAS. The dual objectives of ETi are to build a world class Pan African bank and to contribute to the economic and financial integration and development of African continent.

Ecobank Nigeria was incorporated on 7 October, 1986 as a public limited liability company and commenced business on 24 April, 1989. The bank was listed on the Nigeria stock exchange by introduction between 24 April 2006 and remained listed until 31 December 2011. On 30 December 2011, by a Federal High Court sanction of a scheme of arrangement, Ecobank Transnational incorporated (ETI), Lome, incorporated in the Republic of Togo which prior to that date held 85.1% equity shares in the bank, became beneficial owner of 100% shareholding in the bank. The bank is now fully owned subsidiary of ETi and has been re-registered as a private limited liability company at the corporate affairs commissions, Abuja.  The principal activity of the bank is commercial banking which includes domestic and corporate banking services. The bank operates under a commercial banking license with national banking status in line with the Central Bank of Nigeria present banking model.   

1.8      Definition of Terms

Agency theory: Agency theory is directed at the ubiquitous agency relationship in which one party (the principal) delegates work to another (the agent), who performs the work.

Board composition:- this is defined as the proportion of presentation of non executive directors on the board.

Board size:- this is defined as the number of directors both executive and non executive directors on the board of the bank.

Corporate governance:- the method by which suppliers of finance control managers in order to ensure that their capital cannot be expropriated and that they earn a return on their investment.

Financial performance:- This is a measure of how well a firm can use assets from its primary mode of business and generate revenues. This term is also used as a general measure of a firms overall financial health over a given period of time

OECD: - The Organization for Economic Corporation and Development

Shareholders:- Shareholders are people who have bought shares in a limited liability company.  They own a part of the company in exact proportion of the shares they own.

CBN:- Central Bank of Nigeria

ETi:- Ecobank Transnational incorporated