1/2012 103-111 The Role of Banks in Capital Formation and Economic Growth: The Case of Nigeria Alex Ehimare OMANKHANLEN Covenant University‚ Ota‚ Ogun State‚ NIGERIA alexehimare@yahoo.com Abstract: This study investigates the role of banks in capital formation and economic growth: The case of Nigeria for the period 1980-2009. The economies of all market-oriented nations depend on the efficient operation of complex and delicately balanced systems of money and credit. Banks are an indispensable element
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BANK OF INDUSTRY INTRODUCTION. The Bank of Industry was created by the Federal Executive Council in January 2002 with the sole purpose of promoting and encouraging small and medium scale industries in Nigeria by providing long term financing to the industrial sector of the Nigerian economy. It was formed by the amalgamation of three already existing development financial institutions comprising: The Nigerian Bank of Commerce and Industry (NBCI)‚ The Nigerian Industrial Development Bank (NIDB) and
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AEC 406 AGRICULTURAL DEVELPOMENT AND POLICY ANALYSIS LECTURE ONE 1.0 Concepts i) Agricultural Production‚ consumption‚ markets for food and fibre system ii) Policy To understand and inform policymakers To explain and predict policy choices ( political economy) iii) Development Changes (possibly improvements) over a long time horizon It varies globally across countries. 1.1 What are policy choices in Agriculture? Policy can be broadly be defined as: Actions
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CORPORATE AFFAIRS COMMISSION RESEARCH UNIT Date : 2nd Quarter‚ 2009 From : Agriculture Desk Subject : Boosting Agricultural Productivity in Nigeria. Introduction: Agricultural sector was the mainstay of the Nigerian economy before independence‚ 75% of the Nigerian workforce was engaged in agriculture and immediately after it‚ until the oil boom of the 1970s. In the 1970s‚ agriculture provided the needed food for the population as well as serving as a major foreign exchange earner
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both food cops and cash crops. It is through the development of agriculture the human beings started organized way of living. The development of agriculture led to the development of civilized life of man. The agricultural sector is important in all the aspect of human life because it provides food materials and raw materials to industries. So the development of agriculture stands as the back bone to the development of a country and the development of standard of living of the people in the country
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banking and related services.” Microfinance is not just about giving micro credit to the poor rather it is an economic development tool whose objective is to assist poor to work their way out of poverty. It covers a wide range of services like credit‚ savings‚ insurance‚ remittance and also non-financial services like training‚ counseling etc. FEATURES: * Borrowers are from the low income group * Loans are of small amount – micro loans * Short duration loans * Loans are offered without collaterals
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Christopher Martin ‘Micro-finance programmes are aimed at reducing poverty. What ethical challenges are raised by the operation of micro-finance and which ethical theory can best be applied to assess how Grameen Bank addresses these challenges?’ Introduction: The essay seeks to examine the ethical issues raised by the operation of microfinance. In the first section‚ an overview will be offered. In the second
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Key Constraints to Housing Development Finance in Nigeria. A TERM PAPER DEPARTMENT OF ESTATE MANAGEMENT AND VALUATION SCHOOL OF ENVIRONMENTAL STUDIES; FEDERAL POLYTECHNIC‚ NASARAWA‚ NASARAWA STATE e-mail: fpnas@yahoo.com‚ Tel.: +234 – 047-66701‚ 66707 047 – 66238 (DL) JULY‚ 2012 BY UZOKWE‚ LAWRENCE CHIDI Department of Estate Management and Valuation School of Environmental Studies The Federal Polytechnic Nasarawa‚ Nasarawa State. Email: Uzokwe_Lawrence@Yahoo.Com‚ 08059128950 ABSTRACT
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for establishment of micro finance institutions to support this sector. The growth of micro finance institutions has been due to the response to this need. IN Kenya‚ there is several micro finance ranking from individual owned institutions to cooprporate based institutions. K-REP has been the fore front in promoting his sector among other new players like Equity Bank and Family Finance Bank. KWFT has also joined in to offer credit to members of the society in the form of micro credit activity. The
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Role of commercial banks in development. INTRODUCTION A commercial bank is something with which every one of us is well known. However different bankers and economists have defined it in a different way: According to Kent: “An organization whose principal operations are concerned with the accumulation of the temporarily idle money of the general public for the purpose of advancing to others for expenditure.” According to Banking Companies Ordinance 1962: “Banking
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