ABSTRACT
The focus of this study is on Credit Control Policies in Financial Institutions and its efficacy in minimizing loan losses. In order to achieve a purposeful study, the research reviewed related literatures on Banking, Bank lending and credit administration. An analysis of the responses from credit officers and information obtained from the secondary sources was carried out. The major findings among others are that:
1. Most financial institutions have formal credit polices enshrined in a manual to guide the credit officers and management.
2. Financial institutions usually include in their credit policies the loan territory, types and tenors of loans, acceptable securities, and the procedures for assessing, approving and monitoring credit facilities.
3. Financial institutions operate under a highly regulated environment through some government agencies such as the Central Bank of Nigeria (CBN), the ministry Finance, among others.
4. that despite the laudable credit policies, many finance organizations still suffer loan losses mainly because of unsound judgment by he credit officers, management override, lack of adequate supervision, or frauds and forgeries.
5. the provisions of, and compliance with adequate and sound Credit policies is paramount to minimizing loan losses.
CHAPTER ONE
INTRODUCTION
1.0 PREAMBLE
Banking business is generally that of accepting deposits from the saving surplus sector of the economy with a view to paying on demand or at an agreed future date and lending to the savings deficit sector of the economy. Banks are usually custodians of money and values of individuals and body corporate.
The Paton Commission (1948) defined banking as the business of receiving from the public on current account money which is to be repayable on demand by cheque and of making advance to customers. The 1958 ordinance defined banking business as “the business of receiving money on current account, of paying and collecting cheques drawn by or paid in by customers, and of making advances to customers”. Banking business is defined in the 1969 Act as “the business of receiving monies from outside sources as deposits irrespective of the payment of interests, and the granting of money loans and acceptances of credits or the purchase of bills and cheques or the purchase and sale of securities for account of others or the incurring of the obligations to acquire claims in respect of loans prior to their maturity or the assumption of guarantees and other warranties for others or the effecting of transfers and clearings, and such other transactions as the commissioner may, on the
| Project details | Contents |
|---|---|
| Number of Pages | 124 pages |
| Chapter one | Introduction |
| Chapter two | Literature review |
| Chapter three | methodology |
| Chapter four | Data analysis |
| Chapter five | Summary,discussion & recommendations |
| Reference | Reference |
| Questionnaire | Questionnaire |
| Appendix | Appendix |
| Chapter summary | 1 to 5 chapters |
| Available document | PDF and MS-word format |
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