INTRODUCTION
1.1BACKGROUND OF THE STUDY
The Nigerian economy has undergone structural changes in the past three decades from a predominantly agricultural economy in the 1960s to an economy mainly valient on oil from the mid 1970s
The growth in oil earnings was not fully internalized into the economic system. The result was that the consumption production pattern became largely import oriented inability to emergence of trade arrears.
A growing department burden also surface in the early 1980s as a result jumbo trans contracted from the international capital market. External Debt outstanding rose drastically from US 93.6 million to 1976 to us 18.6million in 1986 and to about us 30.8 billion in 1990.
The pursuit of an over valued exchange rate policy, the subsequent relegation of the agricultural sector to the background, heavy public sector pending and combined to create distortion in the production. Consumption and payments patterns.
The prections decline in oil earnings in the 1980s necessitates policy redirection aimed at realigning the domestic production patterns with the local resources base.
The structural adjustment pro (SAP) was introduced in July 1986 to eliminate structural distortions and encourage a diversified and broad productive base the major feature of the SAP includes: -
(a)The re- alignment of the naira exchange rate to reflect forces.
(b)Tread liberalization.
(c)Privatization and commercialization of government owned enterprises and the promotion of locally secured raw materials
(d)The deregulation of the economy.
The banking system has been an integral part of the on- going structural reforms and it has played a heading role in the management of policy changes within the banking system
The Union Bank plays a leading role in the management economy.
The union adopts measures describe appropriate to influence the performance of the financial sector for the achievement of desired objectives which in of monetary stability and a sound financial structure.
In their performance of the supply of credit and money and sustainable growth without generating inflationary pressures and undus instability in the exchange rate.
The banking failures of the 1950s lead to the introduction of a Union Bank following the recommendation of J.B. Loynes.
The ordinance establishing the C. B. N. was promulgated in 1958 and it became fully operational on the lot of July 1959.
The main provision of the ordinance includes: -
(1)Issuance of legal tender currency in Nigeria maintenance of external reserve in order to safeguard the internal value of the currency.
(2)Promotion of monetary stability and a sound financial structure.
(3)Bank to bank in Nigeria and abroad Ambassador Olatopo Falowon opined that Union Bank has not been playing the traditional roles structure part from control of the money stock are to prevent systematic financial instability and meliorate concerns about the efficiency and equity of financial intermebation failure of the financial institutions to loss of confidence in the system.
Finally, the Union Bank Decree of 191 upon which this study is based – Bases on the conflicting view of others and an personal experience as a banker, the researcher was motivated to undertake this study.
(A case study of Union Bank of Nigeria Plc. money by in creasing their lending.
TABLE OF CONTENTS
TITTLE PAGE
APPROVAL PAGE
DEDICATION
ACKNOWLEDGEMENT
TABLE OF CONTENT
CHAPTER ONE
INTRODUCTION
1.1Background of the Study.
1.2Statement of the Problem.
1.3Purpose of the Study
1.4Delimination
1.5Limitations
CHAPTER TWO
LITERATURE REVIEW
2.1Historical Origin of Union Bank
2.2 Difference Between Union Bank and Other Banks
2.3 Function of Union Bank
2.4Concept of Management
2.5The Meaning of Capital Formation Inflation, Inflation, Exchange rate, Balance of Payment Position and Money Supply.
2.6Operation of the Union Bank of Nigeria.
CHAPTER THREE
DATA PRESENTATION
3.1Findings, Recommendations and Conclusion
3.2Summary of Findings
3.3Recommendations
3.4Conclusion
REFERENCES
BIBLIOGRAPHY