AN EVALUATION OF THE PRACTICE OF SOCIAL RESPONSIBILITY IN NIGERIA AGRICULTURAL AND CO-PORATIVE BANK

AN EVALUATION OF THE PRACTICE OF SOCIAL RESPONSIBILITY IN NIGERIA AGRICULTURAL AND CO-PORATIVE BANK LIMITED AWKA,ANAMBRA STATE.

ABSTRACT

The research dealt with an evaluation of the practice of social responsibility in Nigeria Agricultural and co-operative bank limited Awka. Investigation was made as to know why Nigeria Agricultural and co-operative bank should discharge social responsibility programmed the relationship between the bank and community where it operates. This is important because it will expose Nigeria Agricultural and co-operative bank to achieve mutual beneficial relationship between economic and social goals. In presenting and analyzing the data collected, frequencies and percentages were used. Based on my finding, The finding as follows for a case in point the non chalant attitude of Nigeria agricultural and co-operate bank Ltd Awka have portrayed them in the bad light and dragged their reputation to the mud. Based on this study the following recommendation are made Nigeria firms, especially the small one should change present attitude and become involved in solving societal problem. And provide essential amenities which raise the standard of living. Standard of education by providing libraries, school creating employment opportunities to young school leavers and even awarding scholarship to outstanding indigenous from poor families. Time has changed and customer conception about business firm and their operation have equally changed. This is because greater percentage of the population are now aware and literate of the giving or in the society therefore the societal cannot be cheated as deceived as was the case in the past. Social responsibility programmes should not be for the Nigeria Agricultural and co-operate bank alone to execute, rather government of all level should also be involved. Non Governmental Agencies and non business bodies etc should contribute their own quota to the solving of the societal needs.

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CHAPTER 1

INTRODUCTION

1.1   Background of the study

The study fall the board area of social responsibilities of Nigeria Agricultural & co-operate Bank ltd, Awka Anambra State. Different management author have in recent time greatly debate on whether banking should pursue any other objectives other than their main objective which is profit making. It is noted that profits is vital factor in our banking system today. It is further recognize that the responsible behavior of Nigeria Agricultural and co-operative Bank ltd Awka. In behavior of Nigeria agricultural and co-operative bank ltd Awka. In providing services is contributor to its long term profitability. Each of the bank under Nigeria agricultural & co-operative bank had its role and it has felt if only they perform their roles effectively by recognizing their respective boundaries they would contribute to their sues of Nigeria agricultural and co-operative bank. Now social expectation that Nigeria agricultural and co-operative bank accept social commitments beyond profit requires possible change in image and its of interest. This was the argument of traditional economist and moral philosopher such as Adam Smith.

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Today the spotlight is focused more square on banking and many corporation are considering a philosophy that will be of society as no go area of their co-operate goal. This social involvement is not regarded however as simple as extension of the corporation traditional philanthropic activities undermining. This social awareness and responsibility that goes with their position leadership and power in our societies have now become conscious of the operation of the banking system and the consequences of these operations.

Brief History of Nigeria Agricultural and Co-Operative Bank Limited Awka Branch.

Nigeria Agricultural and co-operative Bank limited Awka branch was established in (1991) after the creation of the state and started on the 8th of June 1992 cited in serve of Nigeria source Agricultural bank limited  and co-operative bank stated off as Nigeria agricultural and actually took its new name in 2978 as instance of the Nigeria government. Government view was to reflect more vividly the banks commitment to Agricultural development through the promotion and financing of co-operation.

Prior to the establishment of Nigeria agricultural and co-operative bank as an institution. These include the fund, the regional market boards. The general consensus however was that these credits financing in situation failed due to some factors. Agricultural experts say the factors ranges from political interference, in efficient project appraised, monitoring and supervisor to low coverage of the excessively rigid and time consuming procedure for processing loan applications. Apart from all these problems for encountered in the problem of vehicles has been restricted from some branches so it created the problem of anti-recovery.  Retrenchment is also a problem because some staff were retrenched staff. So it made work in the branch office to be much for the remaining staff. Another problem is that clients do not pay loan and those that pay do not pay as due.

All these problems make the government to commission a number of studies which finally culminate in the world bank standard harm report of 1996 the report, recommendation among the things led to the establishment of a national agricultural credit institution whose major aim would be the provision on credits to farmers in Nigeria.

The bank is owed by the federal government with the federal government of Nigeria (60) percent source while the central bank of Nigeria holder (40) percent cite din .

Nigeria agricultural and cooperative bank is a development finances institution specially set up to deliver credit to agricultural sector of the economy. This is called out through the provision of loans to individual farmers, cooperative organization, limited liability companies, state and federal government agencies. In the capital of major agricultural and Agro-allied investment ventures.

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Furthermore in exception case, the bank also provide guarantee for finance either locally or internationally. The activities of the bank are geared towards assisting in improving the income and welfare of farmers, promoting rural development as well as increasing the national output of food and cash crop to meet the need of rapidly increasing population.

1.2   Statement of the Problem

The aim of this research is to prove that Nigeria Agricultural and c0-operate bank ltd Awka should not only be seen as an economic entity (seeking only after profit) but also should discharge other non-economic roles which aim of solving societal problems.

However, because there is no specific law on societal issues some banking organization regards it as a voluntary works. Problems emanates as a societal needs of citizens. The negative response of these banking systems created health hazard to the communities. Where they operate as well as jeopardizing operations of the societies are mentally, physically, economically and psychological affected

1.3  Purpose of the Study

The purpose of this research is to determine the general attitude of Nigeria Agricultural & Co-operative Bank ltd Awka towards social issues.

To determine the practically other wise of this bank in carrying out social responsibility programmes.

To determine the consequences of any bank ignoring its social responsibility.

To determine the direction the bank is going towards discharging its social responsibility.

To determine the responsibility between the bank and the community where it operates.

1.4 Significances of the Study

This study is important because it will now only examine the attitude of Nigeria Agricultural & co-operate bank ltd Awka towards the concept of social responsibility but its also help Nigeria Agricultural & co-operative Bank in making policy decision as to eliminate the negative effect and consequences of their attitudes in the discharging of social responsibility.

Nigeria Agricultural & co-operative Bank must assume task which they kick competence in essence the desirable interrelationship between the economic goal of Nigeria Agricultural & co-operative bank and social needs of society at large should be mutual and cordial.

This relationship has to be mutual beneficial as well as consistency fulfilling to both parties.

This study will determine how to achieve this mutual beneficial relationship, between economic and social goals.
Finally, and perhaps more importantly, this study will add to the store of knowledge of Nigeria Agricultural & co0opertive bank ltd Awka n both theoretical and philosophical means.

The concept of social responsibility touches the fundamental philosophy of Nigeria Agricultural &co-operative Bank. The result of this study, the researcher hopes will add more information to this store.

1.5   Research Questions

The following research question were carefully selected to suit the research purpose

In the fact of the present economic crunch know can Nigeria Agricultural & co-operative bank carry out successfully social responsibility programmes and what are the strategies needed for this purpose?

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Should Nigeria Agricultural & co-operative bank ltd Awka carry out social responsibility programmes at all?

Should social responsibility be legalized?

What form should responsibility programme be charged to?

Should social responsibility programmes be made tax deducted?

1.6 Scope/ Delimitation of the Study

The study within the board area of Nigeria Agricultural & co-operative bank Awka management. It is focused on the operation, on the social explanations from the Nigeria Agricultural & co-operative Bank ltd Awka.

The research had contend in the process of the study with constraints due information and responsible by respondents in the planned sample. These nit withstanding the researcher ensured that the needs on the researcher by the time and money. The researcher should base preferred giving as much coverage

1.7  Definition of Terms

  • Social benefit: Its is the value of gains accruing to the community as a consequences of establishing the industry, factory of facility.
  • Social responsibility: It is a management intellectual concern and practical involvement on social issues reflecting to business interdependence with the society of location.

Additional definitions of terms

  • Co-operative: this is an act of doing something together or working together with others towards a shared aim.
  • Agricultural production co-operative: It is a new agricultural enterprise in the form of a collective form or by transition from individual co-operative farming.
  • Economic goals: These are the mixed economy that are generally desired by government through economic policies
  • Retrenchment: It is an act spend less money, to cut down, reduce or diminish an expenses of governmental business.
  • Evaluation: It is a systematic determination of a subjects merit, worth and significance, using criteria governed by a set of standard.

————- this is an incomplete article ———– it’s a product of a high quality project researched work.

Project topic: AN EVALUATION OF THE PRACTICE OF SOCIAL RESPONSIBILITY IN NIGERIA AGRICULTURAL AND CO-PORATIVE BANK LIMITED AWKA,ANAMBRA STATE.

 

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