THE ROLE OF FINANCIAL INSTITUTIONS IN THE MOBILIZATION OF SAVINGS AND INVESTMENT

THE ROLE OF FINANCIAL INSTITUTIONS IN THE MOBILIZATION OF SAVINGS AND INVESTMENT. (A CASE STUDY OF ECOBANK EKWULOBIA

ABSTACT

The project write up (the role of financial institutions in the mobilization of savings and investment) carries the dynamic segments of financial system in mutual fund industry. It has assumed considerable significance in the post liberalized market economy in the Indian financial market; mutual funds play an important financial intermediaries and assets Allocations. This studies deals on issues like the impact on savings and investment in an economies financial institutions, role generation savings and investment in the growth and development of this study is to discover how best financial institution can map up savings. The frame work plan which is used as a guide, in collecting and analyzing data for this study, including the data from primary source of data collection, which was used to obtain reliable information that are used in measuring skills, intelligence, achievements and the performance of the population under consideration. The implication of this is that the financial institution in the mobilization of savings and investment in Nigeria its on the declining rate. Hence, serious measures are required for effective change in the way savings and investment is mobilized by financial institutions and this discussed in this research work. The data from research questions and questionnaires were grouped and analyzed and by means of simple percentages. Finally the concluding part of the research work contains the summary of the topic, conclusion of the work was drawn and recommendations which will act as a guide in handling issues in the ways of mobilizations of saving and investment were also presented.

CHAPTER ONE     

INTRODUCTION                            

BACKGROUND OF THE STUDY

The financial institution in the world over the bedrock of the economy, this is because the sub sector mobilizes funds from surplus unit of the economy to deficit units. This fund is mobilized from members of the public who has purchasing power. Financial institution are organization which trade or deal primarily on financial asset.

They constitute a vital part of the financial institution of an economy, they play intermediary role between the owners and the users of the fund thereby linking lenders and borrowers, either by obtaining deposits from lenders and the lend them to borrowers or (as brokers) arranging transaction.

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Financial institution helps to mobilize savings and firms within the country and make financial resources available to those who require them on various purposes. The Nigeria financial system consist of various financial institutions for the mobilization of funds and fostering of economic growth and development of the country, such institutions includes the central banks, savings banks, and other non-bank financial institutions. These institutions plays vital role in the mobilization of savings and investments they assist to a great extent in transforming the rural sector, through the provision of loans on fairly easy terms. They offer the investing public the opportunity of interest yielding the financial institution thereby the necessary fund for economic growth and development.

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However despite this roles played by the banks in the mobilization of savings and investment consequently capital formation is still very low in the Nigeria economy which can be attributed to poor habit  of the people when individuals refrain  from consumption, and they engage in savings, this will help them to meet unforeseen contingencies.

1.2 STATEMENT OF THE PROBLEMS

In Nigeria the level of savings and consequently investment is very low. In view of this, it has been noticed that these problems of low savings have also increased the problems of unemployment in the economy. It is worthy to note that people spend greater part of their income on expensive and luxurious  items and does not increase dependency and ratio and has increase other social vices in our society.

In order to encourage the mobilization of savings and investment, financial institutions such as Ecobank and other banks have provided a medium through which excess fund can be saved for investment purposes, despite the roles played  by financial institutions in mobilizing savings and investment, the savings and investment culture is still very low in the Nigeria Economy. Due to this back drop, that lead me to investigating to research on the role of financial institutions in the mobilization of savings and investment, this work will be centered around Nigeria Eco bank PLC Ltd.

1.3   PURPOSE OF THE STUDY

In view of roles performed by banks of the mobilization      of savings and investment, the purpose of this finding will be thus:

  1. To investigate on the role performed by the financial institutions especially Ecobanks in the mobilization of savings and investment.
  2. To evaluate on how the public views in the mobilization of savings by financial institutions.
  3. To evaluate and determine the reason for the low level of capital formation in the Nigeria Economy.
  4. To investigate on the saving habits of the people.
  5. To produce a research that would boast the interest of other researchers to go into further findings which will produce a dependable solutions to the problem encountered by financial institutions in the mobilization of savings and investment.
  6. To map strategies that will facilitate easy mobilization of savings and investment.
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1.4 SIGNIFICANCE OF THE STUDY

This research work helps to add stock to existing knowledge concerning the role of financial institutions in the mobilization of savings and investment based on their suit deduced from the findings. The members of the public will be able to foresee the benefit of savings and investing a greater part of their disposal income. As a basis of encouraging mobilization of savings and investment, the researcher will give out suggestion that will guide financial institution in providing good medium that will encourage people to save.

The researcher through its finding will be able to unravel the factor that has contributed to the low level of savings and investment in the Nigeria Economy and possibly will also provide sound solutions to the problems.

Additionally, for those who intend to be professional in field of banking, this research will give them an insight into the industry. And also to the members of investment and it will adopt a technique that will guide people in saving a greater part of their spend able income thereby encouraging capital accumulation for investment purposes.

  • RESEARCH QUESTIONS
  1. Are there problems encountered by the banks in the mobilization of savings and investment?
  2. What are the roles performed by the financial institution in mobilization of savings and investment?
  3. Are there factors for the low level of capital formation?
  4. How has this poor investment and savings affected the Economy?
  5. Are there factors that influence the level of savings?
    • SCOPE OF THE STUDY

This project will evaluate and determine the factors responsible for the low level of savings and investment in the Nigerian Economy.  It will also view the effect of poor savings and investment habits in the Nigerian Economy with special reference to Ecobank Plc.

  • LIMITATION OF STUDY

There are several factors that posed a constraint to the research during my conduct of this research. However, this problem did not affect the validity of this work.

Firstly, uncooperative attitude of some of these financial institutions in the area to supply materials and necessary information’s especially filling and returning of questionnaire, but with repeated visit the researcher was able to gather information needed.

Finally, the school library department lacked adequate information on the topic of study as a result of this; the researcher has combined academic wok with traveling from one school to another and various libraries in the state in search of necessary information.

1.8   DEFINITION OF TERMS

       FINANCIAL INSTITUTION:

There are intermediaries between the owners and users of fund that is the borrowers and the lenders.

      FINANCIAL INTERMEDIARIES:

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These matches the deposits requirements of the saver with the investment requirement of the borrower.

ECOBANK

Ecobank is a category of financial institutions which plays role of financial intermediary through acceptance of deposits both from personal and cooperative customers.

SAVINGS

This can be defined as the act of foregoing some present consumption that is the act of not consuming one’s entire income.

INVESTMENT

Investment refers to the additions to the production capacity of the nation when a business buys equipment or improved land on which it put a building, it is invested.

CAPITAL:

This refers to all man made productive assets that is all man-made wealth of goods used to produce other goods and services. It can also be defined as the equity value of banks equated to the present value of it’s future earnings.

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