ABSTRACT
BOTH DEVELOPED AND DEVELOPING COUNTRIES AROUND THE WORLD HAVE BEEN WORRIED OVER THE EFFECT OF THE GLOBAL FINANCIAL CRISIS ON THEIR LOCAL ECONOMICS. ONE WOULD HAVE NOTICED THAT NIGERIA IS NOT EXEMPTED FROM THE CRISIS. THIS IS THE MAJOR REASON WHY THIS PROJECT WAS EMBARKED UPON TO ASCERTAIN THE EFFECTS OF THIS GLOBAL FINANCIAL CRISIS ON OUR ECONOMY BUT WITH THE BANKING SECTOR AS OUR CASE STUDY. THE PROBLEM CAUSED BY THIS GLOBAL FINANCIAL CRISIS ON OUR ECONOMY AND ESPECIALLY THE BANKING SECTOR CANNOT BE OVER EMPHASIED. THE PROBLEMS TYPICALLY INCLUDE INCREASE UNEMPLOYMENT, DECREASED CONSUMER AND BUSINESS SPENDING, DECLINING STOCK PRICES, DEPRECIATION OF NAIRA AGAINST FOREIGN CURRENCIES, SHARP FALL IN THE PRICES OF SHARES AND MANY MORE. THE PURPOSE OF THIS RESEARCH IS TO EVALUATE THE EFFECT OF THIS GLOBAL FINANCIAL CRISIS ON THE BANKING SECTOR AND ECONOMY AT LARGE. FOR THE PURPOSE OF THIS, THIS RESEARCH, THE METHOD OF QUESTIONNAIRE WAS USED FOR DATA ANALYSIS WAS PERCENTAGE FORMULA AND ANY PERCENTAGE THAT IS MORE THAN FIFTY (50) PERCENT IS ACCEPTED WHILE BELOW IS NOT. THE FINDING WERE THAT THE CRISIS HAS REALLY AFFECTED THE NIGERIAN BANKS NEGATIVELY AND THE NIGERIAN STOCK EXCHANGE AS WELL, BECAUSE OF THE TREND CONTINUE, I AM AFRAID MOST OF THEM WILL GO OUT OF THE BUSINESS. RECOMMENDATION WAS ALSO GIVEN THAT THE ECONOMY SHOULD BE DIVERSIFIED AND THAT THE ACTIVITIES OF THESE BANKS SHOULD BE CHECKED TO PREVENT MISMANAGEMENT.
TABLE OF CONTENT
Title Page i
Approval page ii
Dedication iii
Acknowledgement iv
Table of contents v
Abstract IX
CHAPTER ONE
INTRODUCTION 1
1.1 Background of study 1
1.2 Statement of the problem 6
1.3 Purpose of the study 7
1.4 Significance of the study 8
1.5 Research Question 9
1.6 Scope of the study 9
1.7 Definition of terms 10
CHAPTER TWO
LITERATURE REVIEW 12
2.1 The Origin of Global Meltdown 13
2.2 The coming economic meltdown in Nigeria 15
2.3 Causes of Economic Recession 22
2.4 Nigeria Banks and Capital Market 27
2.5 Nigeria: How Economic Meltdown is affecting 35
2.6 The Global Economic meltdown and Banking in Nigeria 39
2.7 Panic comments of the banking sector 48
2.8 Summary of literature review 51
CHAPTER THREE
3.0 Research Methodology 53
3.1 Brief outline of the study 53
3.2 Design of the study 53
3.3 Area of the study 54
3.4 Population of the study 54
3.5 Sample of the study 55
3.6 Instrument for data collection 55
3.7 Validation of instrument 56
3.8 Distributions and retrieval of the instrument 56
3.9 Method of data analysis 57
CHAPTER FOUR
PRESENTATION AND DATA ANALYSIS 58
Discussion of the findings 68
CHAPTER FIVE
5.1 Summary of findings 71
5.2 Conclusion 73
5.3 Recommendation 74
5.4 Suggestion for further research 75
5.5 Limitation of the study 76
References 77
Appendix 79
Questionnaire 80
