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The project that the researchers studied was Union Bank Plc’s Enugu Zonal Office and the Role of Banks in Financing Agricultural Cooperative Societies in Enugu State. Five chapters were created as a result of this research, with chapter one including the study’s introduction, historical context, and other topics.

Included in the goals is. find out what may be done to improve agricultural cooperatives. to evaluate Union Bank Plc’s contribution to the viability of agricultural development. The researchers analysed earlier related material on the subject in Chapter 2.

The study’s design, data source, sample size, sample procedure returned or completed inquiry, and data analysis method are all covered in chapter three. Using the tabular approach and chi-square procedures, the data from the research survey were analysed and interpreted in chapter four.

Chapter 5 concludes with a review of findings, a conclusion, and recommendations: (1) The government should improve the conditions to support all agricultural cooperative activities.

(2) Banks ought to help farmers succeed by granting loans for all phases of agricultural production. (3) Appropriate project planning and proposal implementation should be done by agricultural cooperative members.

With its initial branch in Lagos, Union Bank of Nigeria Plc was founded in 1917 as a colonial bank. After the Companies Act was passed in 1968 and it became mandatory for all foreign subsidiaries to be locally incorporated, Barclays Bank (DCO) was incorporated as Barclays Bank of Nigeria Limited in 1969.

This name change followed the bank’s acquisition of the Colonial Bank in 1925, which led to the change. Up until 1971, when Nigerians were given the opportunity to purchase 8.33% of the bank’s shares, the ownership structure of Barclays Bank remained unchanged.

The Bank was one of the players listed on the Nigerian stock exchange the same year. The Federal Government of Nigeria acquired 51.67% of the Bank’s shares as a result of the Nigeria Enterprises Promotion Act of 1972, leaving Barclays Bank Plc. London with just 40%.

The Nigeria Enterprises Promotion Acts of 1972 and 1977 allowed Barclays Bank International to sell its ownership to Nigerians in 1979. It changed its name to Union Bank of Nigeria Plc to reflect the new ownership structure and to comply with the Companies and Allied Matters Act of 1990.

The Federal Government sold its shares in Union Bank to private persons in 1993 in accordance with the government’s plan to privatise and commercialise public businesses.

In accordance with the Central Bank of Nigeria’s banking sector consolidation policy, Union Bank of Nigeria Plc acquired the former Universal Trust Bank Plc and Broad Bank Ltd and absorbed its former subsidiary Union Merchant Bank Ltd.

As a result, Union Bank became entirely owned by individuals and organisations from Nigeria. In the final quarter of 2005, the Bank raised additional funds from its shareholders through a public offer/rights issue.

With these changes, Union Bank continues to be one of Nigeria’s banks with the highest capitalization levels. It works through a 405 branch network that is widely dispersed around the nation and has a shareholder money of N119.160 billion. All of these branches are online, real-time, etc.

The following are the subsidiaries of Union Bank Plc: a) Union Homes Savings and Loans Plc

(a) Union Trustees Limited

(b) Union Assurance Company Limited

(c)  Banque Internationale du Benin, Cotonou

(d) Union Bank UK Plc.

(e) UTL Communications Services Limited, in

(f) UBN Property Company Limited

(g) Union Capital Markets Limited

(h) Union Registrars Limited, in

(i) ited are affiliated businesses.


(a) Consolidation Discounts Ltd.

(b) HFC Bank of Ghana Lim

(c) Unique Venture Capital Management Co. Ltd.,

Some board members of Union Bank of Nigeria Plc serve as external directors in the subsidiaries and linked firms as part of the interlocking organisational structure that the Union Bank Group operates.

This approach guarantees effective control and involvement in these companies’ decision-making, protecting the Bank’s interests.

A significant regional bank in Sub-Saharan Africa today due to its varied global interests, the Bank. A quick look at the Bank’s Financial Summary as of March 31, 2008, demonstrates its stability.

For instance, the Bank’s total assets were N1.128.890 billion, gross earnings were N112.988 billion, profit before tax was N33.012 billion, and shareholders’ fund was N199.160 billion.

The “Union Homes” and “savings section” were developed by the Union Bank of Nigeria Plc for grant recipients. Its goals include efficient and effective credit management with rural poor farmers as the primary beneficiaries when loans are issued at a rate of 25%. Maximum loan amounts are then raised upward based on timely repayment of prior loans and cooperative investments.

Amahalu (2007) defines agricultural cooperative as those societies that embrace all the cooperative activities with the goal of assisting farmers in their professional capacities as producers.

Agricultural cooperative, also known as Farmers’ Cooperative Society, is a cooperative society when farmers pool their resources in a particular area of activity.

This kind of cooperative society is necessary because of agriculture’s inherent weaknesses. Agricultural cooperatives are working together to raise standards for everything from planting tag procedures to seed procurement and farm financial subsidies to produce presentation in appropriate locations.

Financial support is the lifeblood of any organisation, according to Obodechi (2006) in his own contribution. In order to accomplish its objectives successfully and efficiently, the cooperative must raise money.

The focus of cooperative in Nigeria has always been on the multiple issues brought about by the stakeholders, including the federal government, state government, local government authorities, and cooperative society members.

Despite all the efforts made, there are still some issues that agricultural cooperatives face that prevent them from developing and growing, particularly in the areas of collateral and expensive financing rates.

With the Union Bank of Nigeria Plc as a case study, this study’s primary goal is to ascertain the role that banks play in financing agricultural cooperatives in Enugu State. It also aims to emphasise the following:

(i) To make recommendations for ways to strengthen the Bank’s participation in funding agricultural cooperatives in Enugu State.

(ii) To ascertain how to improve agricultural production

(iii) To make recommendations on how the problems found might be fixed.

(iv) To evaluate the Union Bank of Nigeria Plc’s contribution to agricultural development.

It is particularly helpful to students studying cooperative economics in higher institutions in Nigeria. This work will also benefit the various levels of government because it will enable them to establish the best agro-business credit policies to increase credit effectiveness and efficiency.

Furthermore, as it would help them understand the significant advantages of approaching banks for agricultural finance, cooperative members are seen as the main benefactors of this research endeavour.

Additionally, our activity will inform all prospective members of agricultural cooperatives that bank credit is a significant development accelerator.
Finally, the adjusted results of this study will significantly raise the level of living for the majority of people.

The following hypothesis

(i) will be evaluated in this study. Insufficient funding is causing issues for the agricultural cooperative in Enugu State.

(ii). Agriculture cooperatives in Enugu State are not hindered by a lack of sufficient funding.

(iii). Low productivity in the agricultural cooperative is a result of inadequate lending.

(iv). Insufficient loans are not a factor in the agricultural cooperative’s low production.

The physical and political borders of Nigeria in general, and the Enugu Metropolis in particular, are the only ones covered by this research study.

The purpose of this study is to determine how banks finance agricultural cooperatives. how they were able to support the growth of agricultural cooperative societies and how they could claim both modest stockholders and significant inventors.

Limitations: It would have been ideal to include other financial institutions, but due to limitations in time, money, and other resources, only the Union Bank Enugu Zonal Office was examined.

(i) Time: It is true that time waits for no man, and the time available for this study’s data collection from paper analysis and other academic responsibilities and curriculum activities is insufficient.

(ii) Finance: Due to a shortage of funds, locations that could have been visited to gather data materials were only partially visited. Due to budgetary constraints as a student, one can afford to concentrate all resources at one base.

A good project requires current and relevant information, both of which are only available in one location, so one must search from one location to another, which costs a lot of money.

(iii) Limited Material Resources: The availability of materials like government and bank publications, papers, and journals is constrained because some bank officials only cooperate partially or not at all. This had an impact on the information that could be acquired.

The pertinent research questions stated below will assist the researcher in assessing how commercial banks contribute to the funding of agricultural cooperative societies in Enugu State.

1. What are the requirements for loan approval?

2. How important do you think banking lending facilities are for funding agriculture?

3. How much or how well has your bank been able to lend money to agricultural cooperatives during the last five years?

4. How has your bank affected this time period’s financing of agricultural cooperative societies?

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