The Financial Management in Co-Operative Financing Agency (A Case Study of Kwara Co-Operative Financial Agency L.T.D Ilorin)

ABSTRACT

         Co-operative financing agency are not different from other types of business with respect to efficient management of their funds they are required to used funds very carefully and judiciously because their source of funds tend to be limited.

         The peculiar limitation imposed by co-operative principle make it very difficult for co-operative to obtain sufficient funds from outside e.g. that interest payment must not exceed percentage.

         As a catalyst cooperative financing agency put together, then resource of entire cooperative credit union and by so doing make the possible for credit union to help each other thereby bringing the gap between rich and poor cooperative credit union the cooperative credit concept is widely recognized on the only means to successful improved the standard of living. Therefore through spirit of cooperative mutual self help, the rich individual financial strength to the poor credit union in order to effect imposed credit equipment out, the financial strengths and mutual protection that unity breads. When a credit investment part in the members total serving into the apex through the financing programme it handing power to another by making money available for the needy credit union to borrow in order to assist the credit need of its member and accord financial relief in the sense of world.

         The desire for individual to development them there economically and socially and the desire of cooperative financial agency to become strengthened will be achieved through efficient financial management.

TABLE OF CONTENT

Title page                                                              i

Certification                                                         ii

Dedication                                                            iii

Acknowledgement                                                iv

Abstract                                                                v-vi

Table of content                                                   vii - v       

CHAPTER ONE       

1.1      Introduction                                                         1

1.2      Aims and objectives of the study                        3

1.3      Statement of the problem                                    4

1.4      Limitations of the study                                      5

1.5      Scope of the study                                               6

1.6      Research questions                                              6

1.6.1 Characteristic of useable research question       7-15

CHAPTER TWO

2.0      Financial management in a financial institution 16

2.1      Financial reports                                                  18

2.2      Financial control                                                  21

2.3      The voucher system                                             22

2.4      Internally generated funds                                  24

2.5      Financial strengthening                                       28

2.6      Internal audit                                                       29

2.7      Risk management programme                            29

2.8      Responsibility of the officer                                 35

CHAPTER THREE

3.1    Origin and historical development of Kwara cooperative financing agency                                 37

3.2      The objectives of Kwara cooperative financing agency                                                                     39

3.3       The structure of Kwara cooperative financing agency 40

3.4       Kwara cooperative financing agency committee duties and responsibilities of the board of director          40

CHAPTER FOUR

4.1      Data presentation                                                46

4.2      Data interpretation                                              47

4.3      Test of hypothesis                                                48

4.4      Data analysis                                                       56

4.5      Research findings                                                56

CHAPTER FIVE: summary, recommendation and conclusion

5.1      Summary                                                             59

5.2      Recommendations                                               60

5.3      Conclusion                                                           62

Bibliography                                                         64