GLOBAL FINANCIAL MELTDOWN AND ITS EFFECTS ON NIGERIA BANKING SECTOR

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 econoy 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 CONTENTS
Title    Page                                                               i
Approval    page                                                          ii
Dedication                                       iii
Acknowledgement                               iv
Table of contents                               v
Abstract                                                                                                                                                                                

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