Critical Analysis Of The Viability Of Commercial Bank Activities In Nigeria

📄 Project Abstract

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 t...