ABSTRACT
The urgent
need to establish a financial institution that will carter for the development
of various sector of the African economy brought about the emergence of the
African development bank. Also when the African government realized that the
central bank are commercial banks could not provide bring financial
developmental services, the development banks were specially established to
bring the gap.
The
objective of the research is to appraise the activities of ADB and highlight
the efforts that ADB plays in acceleratory the economic development in Nigeria and
African in general.
The study
examined the banking history the evaluation of mechanism of credit from the
civilization of antiquity to its organization as in banking toclary was examined.
Thus the
researcher recommends among others that capital of the bank be increased by
regional members and should cease from tending to countries who persistently
refuse to pay their debt.
CHAPTER ONE
THE
ROLE OF AFRICAN DEVELOPMENT BANKS IN NIGERIA ECONOMIC DEVELOPMENT
1.0 INTRODUCTION
Economics
development has always constructed a major concern of most of government in
both development and developing countries.
In
achieving this economic development, the setting up of financial institution is
always the first step to be taken having recognized the importance of finance
in economic development.
The
mainstream business of banking enterprise retune banking and practiced by
specialist institutions. While these categories of banks share a common role of
facilitating the mobilizational conversion of resource into invertible funds
they differ in their economic objective and investment policies. Where as the
commercial and merchant banks are propelled and sustained in the investment
activities in the drive towards profit maximization for the benefit of a social
subgroup comprising shareholders, worker creditors and associated interest.
1.2 THE OBJECTIVE OF STUDY
The sole
aim of this study is an extensive research into the whole system the bank (ADB)
in order to identity the constraints to optional operation the bank and to
recommend solution to it.
i. To
appraisal if the activities of ADB and highlight the effort that it play in
accelerating the economic development of African countries.
ii. What
recommendations could be made in order to enable the bank to better meet its
mandate.
iii. What are problems facing the bank
iv. What are the
performed by ADB in order to accelerate the pace of African development in Africa:
1.3 SIGNIFICANCE OF THE STUDY
The dominance of the banking
industry in the financial system and relative importance to the health of the
economy dictate that any issue that is at the lone of its survival is very
significant and must be given the due attention its deserves,
The study will to agent event
contributed to the existing knowledge about a role development banking is
performing and the role the ADB is performing in order to accelerate the
economic development of Nigeria
and Africa.
This study is also important because
if will help the banks management to take measures that will attempt to make
the ADB more solid to meet its mandate.
1.4 SLOPE AND LIMITATION OF THE STUDY
In order to carryout a comprehensive and meaningful
research work. This study cover the operation of African development in Nigeria ands also its role in the economic
development of African countries like Nigeria
these operation of African development in Nigeria, these operation are:
1-
The bank direct
investment in Nigeria
from 1987 to 1994.
2-
The bank indirect investment through the following
financial institutions;
(i)
The Nigeria
industrial development bank NIDB
(ii)
The National economic reconstruction fund NERFUND
(iii)
The Nigeria
export import bank NEXIM.
In
the limitation of the study financial and time constraint pose a problems to
the number of institutions and number of countries that could be use in
obtaining data which highlight the role of African development bank.
1.5 DEFINITIONS OF TERMS
ADB:
African development bank.
NEXIM:- The
Nigeria
export import bank
NIDB: The
Nigeria Industrial development bank.
NERFUND:
The National economic reconstruction fund.
RCMS:-
Regional members countries.
N.T.E: Nigeria trust
fund.
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