CHAPTER
ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Congestion
in banks can be viewed as a generation problems, which is as old as banking in
Nigeria itself. The Nigeria banking section which is over 108 years old has the
year tried to maintain 9 certain degree of human and technical organization as
regards bank transactions within bank premises and across the counter.
Therefore bank congestion is one problem in the banking sector that has thrived
despite new polices and ideas created by the authorities in curbing it.
Going down memory lane, precisely in the
70’s and 80’s, the regular occurrence of
long queues was not new anymore as people were made to wait for hours before
proceeding their bank transactions.
Msungu (2007) on his book emphasizes on
congestion in banks says that considering banks at the time, a friend would
quickly advise you not to open a bank account because it is a big bother when
it comes to withdrawing your own money, it takes hours before you get it.
Imagine you got into a bank that keeps
your money and you are delayed for more than two hours before collecting a
little sum of money you have requested and of course no one gives you any
explanation for undue delay in giving you the cash badly needed. It is annoying
and absurd- it is also more annoying when “Tellers” start calling names out
loudly, so that customers can come forward to collect their money. In strict
African tradition, that is not entertained and so ways should be devised on how
customers are to be called to collect money at counters.
Also, it was normal during the manual
banking system that customers practically spent the entire day at the bank the
expenses of their other activities as individuals. This manual trend’s in
banking encouraged congestion the most. “Old generation banks’ such as Union
bank Nigeria Plc, and First Bank Nigeria were the “architects” of bank
congestion since they had a high degree of public confidence at the time. In
this situation accounts were documented in files and it was rather tedious to
go through the accounts as well as other book-keeping activities for hundreds
of people who wish to transact business that same day. The resultant effect of
these is “human congestion”, a situation whereby the bank hall is crowded and
there are too many people to be attended to at the same time.
The
Nigerian clearing house activities also compounded the problem of bank
congestion. This is because credit instrument such as cheques and bankers
drafts took many days before they got cleared. After one year of it inception,
into full banking operations in July 1959, the CBN (Central Bank of Nigeria) initiated
actions in establishing a national clearing system and thus Lagos clearing
committee and a sub-committee came together to work out details to draft the
operation of a national clearing house. Thus, the Lagos clearing house was
subsequently opened in 1961 and has quiet a number of its branches nationwide.
Furthermore, a time came when the clearing system
had to be automated so as to fall in line with international standards. In this
view the magnetic ink character recognition (MICR) cheques were introduced to
easily read cheques and were checked with the use of cheque scanners.
More
so, the problems known as bank congestion, has been in existence at a time when
“arm-chair banking” was practiced. Here, customers queued up for hours on end
before they can be attended to. This was due to the fact that there were too
many book of account to process before cash deposits and withdrawals were made.
However time count on and computerization started creeping into the banking
system E-banking) so in due time, the “armchair banking” was gradually
eradicated and has drastically reduced.
1.2 STATEMENT OF THE PROBLEM
Banking hall congestion is more less device
that hampers the smooth running of a job well done in a bank of financial
institutions. Bank congestion has been found to be both a human and technical
problem and has been a booster of inefficiency among banks in Nigeria.
Congestion is a menacing problem but the sad angle to this scourge is treat it
permeates other departments of banking activities thus slowing down the system.
PLEASE PAY FOR THE COMPLETE VERSION
THE COMPLETE PROJECT IS CHAPTER 1-5 #4,000
ONLY
PAYMENT
PROCEDURE;
BANK: FIRST BANK
ACCOUNT NAME: EGBE JOHN EDOGI
ACCOUNT NO: 3034851408
GTBANK
ACCOUNT NAME: EGBE JOHN EDOGI
ACCOUNT NO: 0122005571
PLEASE AFTER PAYMENT SEND
THE TELLER NUMBER AND YOUR NAME THE WAY IT APPEAR IN THE TELLER TO ANY OF THE
FOLLOWING PHONE NUMBER:
08037940241
08183133884
YOU WILL RECEIVE YOUR MATERIAL IN
YOUR EMAIL BOX WITHIN 24 HOURS AFTER PAYMENT. THANKS FOR DOING BUSINESS WITH
US.
No comments:
Post a Comment