Internal Control System in Nigeria Deposit Money Banks Prospects And Problem (A Case Study Of Union Bank Plc)

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Abstract

Banks are very important in nation; they are the backbone of the nation’s economy.  Functions of the bank according to ezeuiji (1997), including money creation, acceptance of deposit from the customers, provision of facilities for domestic and foreign remittance, help government in implementing monetary policies etc. According to the operational standard (guideline). Internal control is defined as the whole system of controls,, financial and otherwise, established  by the management in order and efficient manner, ensure adherence to management policies, safeguard the assets and secure as far as possible the completeness and accuracy of the records. The function of internal control system include, the detection  or safeguarding of business asset but despite the fact a that  all bank have internal control system, there have been a lot of problem in the banking sector. Ranging from bank liquidating to defrauding the banks, many bank have been liquidated example of such bank include savannah bank plc, national bank plc (although it is now being resuscitated) merchant bank Nigeria limited Nigeria internal bank limited mention few. 

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APA

Frontiers, E. & Aderonke, A (2021). Internal Control System in Nigeria Deposit Money Banks Prospects And Problem (A Case Study Of Union Bank Plc). Afribary. Retrieved from https://afribary.com/works/internal-control-system-inigeria-deposit-money-banks-prospects-and-problem-a-case-study-of-union-bank-plc

MLA 8th

Frontiers, Edu, and Adeyemi Aderonke "Internal Control System in Nigeria Deposit Money Banks Prospects And Problem (A Case Study Of Union Bank Plc)" Afribary. Afribary, 14 Dec. 2021, https://afribary.com/works/internal-control-system-inigeria-deposit-money-banks-prospects-and-problem-a-case-study-of-union-bank-plc. Accessed 21 Jan. 2022.

MLA7

Frontiers, Edu, and Adeyemi Aderonke . "Internal Control System in Nigeria Deposit Money Banks Prospects And Problem (A Case Study Of Union Bank Plc)". Afribary, Afribary, 14 Dec. 2021. Web. 21 Jan. 2022. < https://afribary.com/works/internal-control-system-inigeria-deposit-money-banks-prospects-and-problem-a-case-study-of-union-bank-plc >.

Chicago

Frontiers, Edu and Aderonke, Adeyemi . "Internal Control System in Nigeria Deposit Money Banks Prospects And Problem (A Case Study Of Union Bank Plc)" Afribary (2021). Accessed January 21, 2022. https://afribary.com/works/internal-control-system-inigeria-deposit-money-banks-prospects-and-problem-a-case-study-of-union-bank-plc