The Challenges of Managing Corperate Bank Account in Nigeria

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The Challenges of managing Corporate account In Nigeria
By
OWOEYE OLADAPO JOHN
Submitted as a term paper in partial fulfillment of

ABSTRACT

One of the main survival techniques of most banks is to ensure progressive increase in deposit base. These deposits do not just magically appear, rather driven via transactions created between banks and there numerous customers (both human being and artificial beings).The artificial customers are regarded as the corporate organisations who do business with the banks. Out of various means of doing business with Nigerian banks, opening of corporate account is key.Corperate account is very important for every corporate entities to carry out her day to day financial obligation via banks. Even though banks see it as a edge for survival via various “charges et al” on transactions on those corporate accounts, the customers perspective of ensuring that the account is a is properly managed is a great challenge. Therefore, the research investigated the challenges of managing corporate bank account in Nigeria. Earlier research report were reviewed and data source were primary and secondary. and SPSS were used to analyze the data(with different statistical tools).Conclusions and recommendations were made on research findings.

Table of content
1. Introduction
1. statement of problem………………………………………………………… 2. objectives of the study………………………………………………………. 3. research questions…………………………………………………………… 1.4research hypotheses…………………………………………………………… 1.5 Significance of study…………………………………………………………… 1.6 Scope of study…………………………………………………………… 1.7 Limitation of Study…………………………………………………………… 2.0 Literature review

2.1 Banking Evolution in Nigeria………………………………………… 2.2 Definition of bank account
2.3 Types of accounts
2.4 bank account Management
3.0 Methodology
3.1 Introduction
3.2 population of the study:

3.3 Sampling size

3.4 Sampling technique

3.5 Research design

3.6 Research instrument:

3.7 Sources of data collection

4.0 Data presentation,analysis and interpretation
4.2 Data interpretation of variables

4.3 Data interpretation

5.0 Conclusion and Recommendation

References

CHAPTER ONE
1.0INTRODUCTION
The cash account management process (i.e. opening, maintaining, and closing account) is a very manual and paper based activity leading to high costs and inefficiencies for both bank customers and banks. Despite some attempts to automate exchange of information, communication remains heavily paper based: for instance, required documents to open an account are sent – sometimes electronically - to the bank customer which fills them in and sends them back to the bank. As they most of the time require wet signature, these documents are sent back on paper by – express-mail to the bank which will then check them. Documents are at this stage scanned, bar coded and circulated between different bank departments which will update the customer information in their own back office applications. These data entries require most of the time manual activities. (e.g., 48 hours) (SWIFT:2008).Within Nigeria terrain, slow growth rate in technology development and its adoption are great threats to banks in ensuring service delivery to their numerous customers as at when due. While there could be other factors creating service delivery failure by banks, IT is key. However, while there are challenges for banks in ensuring service delivery and satisfaction, there is need to turn the table and look in to possible problems corporate organization could face in doing business with their banks. In other to avoid ambiguitiness of research, streamlining of challenges basically to corporate account management cannot be over-emphasized.

1.1STATEMENT OF PROBLEM
The harsh economic environment under which most industries and banks operate today has posed serious challenges to management. Most...
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