BACK GROUND TO THE STUDY
Bank was first introduced by early goldsmith in the olden days, the goldsmith kept the valuable asset of people. They has fortified places where they kept valuable items received from people. Those who deposited their valuable properties with the goldsmith were made to pay some amount to the goldsmith before they could claim their valuable properties.
With time the goldsmith discovered that not every body who deposited the property came at the same time to claim them. He discovered that only a few people came at a time to claim their assets. Because of this, he started to lend out to needy people some of the assets kept in his custody. He charged interest on those valuable goods borrowed by people. He started to make a lot of wealth from such deals.
To attract more people to deposit their precious goods, he started to pay interest to those who deposited their property with them.
But he charged higher interest on those who came to borrow these goods from him.
The goldsmith issue paper to those that deposit their property with him. As time went on, that paper issued by the goldsmith to the people, was converted to what we know today as paper money.
the paper issued, was used to settle debts or services rendered, the need for
money then over shadowed the barter system - the great wheel of circulation,
the instrument of commerce. Note that the establishment of the banking
of problem encountered by the institution, the bank transferred its interest to
elder dempster and co. this led to the formation of a new bank known as the
British bank of west Africa(BBWA) In 1893. It was registered in
Seeing the benefits of banking institution in the country, another banked called the Anglo African bank was established in 1899 in Calabar by Royal Niger Company, now (U.B.A) to compete with BBWA.
banks later changed its name to bank of
started the era of Commercial Banks in
Nigeria Banks are operating the branch banking system which a small Banking company can conduct operations of two or more places. Usually, the branches are controlled from their Head office. The branches are controlled from their Head office. The branch office may be located in the same city, state or in another state depending on the banking laws and regulations of the country.
Nigeria Banks are required to play a crucial or vital role in the mobilization of financial resources for achieving economic development through;
1. Provision of facilities for collection of savings
2. Provision of facilities for transfer of fund
3. Advisory services to business and investors
4. Providing business status reports and references
5. Providing facilities for the financing of international trade
this a fore mentioned services carried out by the Banks in
Banking institution in
User, A. & Ifeoma, O (2020). Critical analysis of the viability of Commercial Bank Activities in Nigeria. Afribary. Retrieved from https://afribary.com/works/critical-analysis-of-the-viability-of-commercial-bank-activities-in-nigeria
User, Anonymous, and Omenogor Ifeoma "Critical analysis of the viability of Commercial Bank Activities in Nigeria" Afribary. Afribary, 04 Sep. 2020, https://afribary.com/works/critical-analysis-of-the-viability-of-commercial-bank-activities-in-nigeria. Accessed 27 Jul. 2021.
User, Anonymous, and Omenogor Ifeoma . "Critical analysis of the viability of Commercial Bank Activities in Nigeria". Afribary, Afribary, 04 Sep. 2020. Web. 27 Jul. 2021. < https://afribary.com/works/critical-analysis-of-the-viability-of-commercial-bank-activities-in-nigeria >.
User, Anonymous and Ifeoma, Omenogor . "Critical analysis of the viability of Commercial Bank Activities in Nigeria" Afribary (2020). Accessed July 27, 2021. https://afribary.com/works/critical-analysis-of-the-viability-of-commercial-bank-activities-in-nigeria