SPIRAL GROWTH OF BANKS IN NIGERIA: MANPOWER PROBLEMS AND SOLUTIONS.
A research into the spiral growth of banks in Nigeria: manpower problems and solutions cannot be over-emphasized. In pursuance of this investigation, the researcher formulated four research objectives. Utilized library and sample survey techniques.Data were gathered through primary and secondary sources. The data gathered were then analyzed using tabular and textual modes of data presentation.The major finding of the research was that the institutional arrangements available to the banking industry to train and develop its manpower in order to match the growth in the industry are adequate and sufficient; yet, the banking industry has not trained and developed its manpower resource base to match the growth in the industry. It was further discovered that the problems being encountered by banks due to inadequate manpower included frequent poaching of professionally trained staff, higher compensation levels, considerable dilution of standards, high and widespread on utilization of modern management techniques, poor banking services and weak internal control. Others included bad loan portfolio problems, contravention of statutory regulations, unethical credit pelicans and other unacceptable practices.Some recommendations were made, which if implemented would guarantee an abundant and professional trained manpower for the banking industry.
TABLE OF CONTENTS
1.1 BACKGROUND OF THE STUDY
1.2 STATEMENT OF THE PROBLEMS
1.3 OBJECTIVES OF THE STUDY
1.5 SIGNIFICANCE OF THE STUDY
1.6 SCOPE AND LIMITATION OF THE STUDY
2.0 REVIEW OF RELATED LITERATURE
2.1 BANKING INDUSTRY AND MANPOWER GENERATION IN NIGERIA
2.2 NIGERIA INSTITUTE OF BANKERS (Now Chartered Institute of Bankers of Nigeria).
2.3 FINANCIAL INSTITUTIONS TRAINING
2.4 ROLE OF INDIVIDUAL BANKS IN
2.5 MANPOWER CHALLENGES OF THE GROWTH OF THE BANKING INDUSTRY.
3.0 RESEARCH DESIGN AND METHODOLOGY
3.1 RESEARCH METHOD USED
3.2 POPULATION OF THE STUDY
3.3 DETERMINATION OF THE SAMPLE SIZE
3.4 INSTRUMENTS OF DATA COLLECTION
3.5 PROCEDURE IN GATHERING
3.6 DATA VALIDITY AND RELIABILITY
OF THE MEASURING
3.7 DATA TREATMENT TECHNIQUE
4.0 PRESENTATION ANALYSIS
4.1 BACKGROUND INFORMATION
4.2 SOURCES OF MANPOWER AND ITS DEVELOPMENT STRATEGIES
4.3 MANPOWER PROBLEMS AND SOLUTIONS TO THE GROWTH OF THE BANKING INDUSTRY
4.4 SUMMARY OF RESPONSES.
5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1 SUMMARY OF FINDINGS
1.1 BACKGROUND OF THE STUDY
In Nigeria, commercial and merchant banking date back to 1894 when the bank for British West Africa (BBWA) was established and 1960 when Philip Hill (Nigeria) limited and Nigeria acceptances limited were set up. Since thus, the general profile of the Nigeria Banking Industry has transformed in various dimensions, and particularly the growth in terms of numbers has been quite phenomenal. For instance this development brings almost at per at sixty-six (66) and fifty-four (54), the respective numbers of commercial and merchant banks in the country. Thus the bank in the country as at December 1994 (commercial and merchant banks) comes to 120. This was unexpected because various policies put in place so as to achieve a realistic exchange rate for the Naira disrupted price levels. There was a multiplier and down stream effect which crystallized in an explosion o rendering requirements in all economic endeavours. It was evident that the injection of fresh credit and increased efficiency in service delivery from the key financial sub-sector (ie. The banking sub-sector) are reforms being pursued under the Structural Adjustment Programme (SAP).
Since 1995, several more banks have been licensed. Another reason for the increase in number of banks is the widening of the sphere, which banks could operate. The general deregulation permit banks to do lot more business and particularly the distribution between merchant and commercial banking is now getting this.
Therefore, the upsurge in number of bank itself is a positive development, because more people are now aware of banking services than hitherto. But the rapid expansion that has been envisaged above in the number of banks and their branches would not doubt require greater bank manpower throughout the system. Bank management quite unlike the management of most other business, is a specialized profession because its stock in trade (i.e. money) is so easy to defalcate and above all, all of it (the money) belong to other people. The profession of Banking, therefore calls for people of extremely high caliber and also of course, good training. It is therefore, against this background that the researcher wishes to x-ray the manpower implications of this spiral growth of banks in Nigeria with a view to identify the problem and offering solutions as per the above.
1.2 STATEMENT OF THE PROBLEM
There is little doubt that the growth expansion and changing nature of commercial and merchant banking activities in Nigeria within the past decade have been a reflection of development within the economy itself. Yet a careful study to the distressful conclusion that act is not well in the section. Bank frauds have taken new dimension with banks operations being at the root of it all. Also the banks chief executives have become reckless in spending to rent for themselves building in the name of official accommodation acquire fleet of expensive cars and employ a routine of domestic servant or staffs. Their salaries and fringe benefits cannot obviously be supported by the present level of the national economy.
It therefore, appear that the manpower resource base available to the industry has not been developed at a sufficient rate to match the growth of the banking industry. The downstream impact of the proliferation of banks has manifested itself among others especially in the following. The management environment of many banks particularly among the newly established ones is often characterized by the prevalence of under exposed key management personal drafted into service from some other institution. This head hunting tread aggravates the staff complement instability that in many banks erodes the basis of manpower planning strategies in the worst case scenario. The depreciation of managerial quality has lead to weak internal control, bank portfolio problem, contravention of statutory regulation, unethical credit policies and other unacceptable practices. These therefore, underline the need for an investigative study.
1.3 OBJECTIVE OF THE STUDY
A research into the spiral growth of banks in Nigeria manpower problems and solutions especially as it related to commercial and merchant banks is a worthwhile venture.
Just like every other business owner each bank crates to be made an epitome of good banking in Nigeria through he use of well trained staff and modern banking technology consequently, producing of trained staff by other banks comes the order of the day.
In view of the above, the research objectives are summarized below:
(1) To find out the institutional arrangements available to the banking sector for the development of the industry manpower.
(2) To ascertain whether the manpower resource base that are available to the banking industry has been developed in a sufficient rate to match the growth of the industry.
(3) To identify if otherwise the problem encountered by banks as a result of the inadequate manpower, and
(4) To proffer solutions on how to match the manpower resource base of bank with the growth of the industry.
For the purpose of this study, the following hypotheses are to be tested.
1. The institutional arrangements the banking industry utilized in the development of manpower resource base for the industry.
2. The manpower available to the banking industry are adequate to match the growth at the industry.
3. The extent, which the inadequate institutional training programmers contributed to the insufficiency of manpower in the banking industry.
4. The insufficiency of manpower resulted in producing of trained bank staff and shooting of compensations levels to new height.
1.5 SIGNIFICANCE OF THE STUDY
The benefits to be derived from this empirical study cannot be overemphasized. The research work is aimed to offering an insight into the spiral growth of banks in Nigeria with a view to ascertain the manpower problems and thereby proffering solutions for improvement. It will reveal whether the manpower resources base available to banks has been developed at a sufficient rate to match the growth of the industry.
Such result can be used by both the government and the banking sub-sector in evolving an efficient and effective manpower planning strategies for the industry. Investigating the manpower problem of the banking sub-sector will sensitize people to work for their remedies this research would also be a source of information for investor in the banking industry educationist and staffs of banks
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