ABSTRACT

The study focuses on assessing the impact of the use of accounting software in preparing the financial statements of commercial banks in Nigeria. The center of attention was on three commercial banks namely GT bank, FCMB, and First Banks; all in the Benin City, Edo State. A stratified sampling technique was used to select this sample.

The Banks were stratified as follows: computerized and networked bank computerized but not networked and partially computerized. The main objective of this work is to explore how Accounting software has forever changed many aspects of business and accounting practices especially in preparing financial statements and to consider the main reasons for the reluctance of some Commercial banks to adopt and utilize this new capability.

The focus of the research was on areas that the researchers considered very critical in accounting software… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

INTRODUCTION

Background of the Study

The increasing globalization of the world economy precipitated organizations the world over to compete in the global marketplace leading to the emergence of a new set of accounting challenges such as multiple currencies and follow a horde of accounting and tax rules. Thus, a more refined accounting software packages competent of managing international accounting intricate issues are increasingly in need (Adhikari, Lebow & Zhang, 2004). However, great technology advancement has rendered the options of using accounting information from a strategic point of view.

The adoption of Accounting Software becomes major aspect in determining the survival, growth, and success of an organization as firms require more information, be it monetary or non-monetary, to deal with a higher scale of uncertainties in the competitive market and require data processing capacity and system to ameliorate to suit their information needs (Van de Ven & Drazin, 1984) in this global economy era… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Statement of the Problem

Since the 1950s, when technology started to be applied in business (Otieno and Oima,2013), most developing countries in the world have abandoned the use of a pen and a paper and started to adapt to the use of accounting software to facilitate the generation of quality, quick and accurate financial reports… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Research Objectives

The following are the objectives of this study:

• To investigate the impact of accounting software on the bank payroll financial preparation and reporting in the banks… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

LITERATURE REVIEW

The use of Accounting Information Systems (AIS) is a widely researched topic. While there is much research on the impact of Accounting Information Systems (AIS) in general; there is little research specifically on accounting software and its impact on financial reporting. Accounting software, however, is widely used in many corporate bodies including SMEs.

For example, in Australia, the Yellow Pages (1997) reported that 76% of the small businesses surveyed had at least one computer, and 75% of this used accounting software. Burgess (1997) in a review of IT adoption by Australian small businesses concluded that the main software application package used was accounting (Burgess 1997 and Wenzler 1996)… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Accounting

Accounting is not only the oldest but also the most stable of the management disciplines.  In spite of its stability and continuity, accounting has seen major changes during the past century. It would be surprising if a century from now, accounting is the same as today. Although we cannot look so far ahead, we can analyze the current conditions for clues about what to expect in the next decade or two (Sunder 1999). Accounting provides financial information about a business or a not-for-profit organization… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Accounting Systems

Every company applies to account because it is generally accepted that companies have to reveal certain financial and management information to economic users and of course because accounting is an indispensable tool in the business decision-making process. Accounting is an important part of every company thus; businesses are required to keep proper books of accounts (Section 123 of the Companies Code (1963), Act 179). “Accounting can be divided into two basic categories: those which apply manual accounting and those which prefer accounting software” (Weber, 2010).

Manual Accounting System and its Shortcomings

Briefly, a system is a set of interdependent elements that together accomplish specific objectives. The manual accounting system is an information system and Romney & Steinbart (2009) defined an information system as an organized means of collecting, entering, and processing data and storing, managing, controlling, and reporting information so that an organization can achieve its objectives and goals. Tanis and Dalci (2002) emphasized that the information system has the following components; Goals and objectives, Inputs… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Figure 2.1 A Manual Accounting System Model

At first look, it is not very difficult and it is so indeed, but when there are thousands or millions of transactions the situation dramatically changes. Lots of transactions that must be processed in the accounting… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

IMPORTANCE OF ACCOUNTING SOFTWARE

accounting software is important to businesses in various ways. The use of computers is time-saving for businesses and all financial information for the business is well organized (Baren, 2010).

• Time and Cost Savings

Using accounting software saves companies time and money. The use of a computer makes inputting accounting information simple. Transactions are entered into the system and the system processes and posts transactions accordingly. Accounting software reduces staff time preparing accounts and reduces audit expenses as records are neat, up-to-date, and accurate. Better use is made of resources and time; cash flow should improve through better debt collection and inventory control. More importantly, the system helps present financial reports on time to aid in the economic decision-making process of external users.

• Organization and Accuracy

Accounting software enables businesses to stay organized. When information is entered into the system, it makes finding the information easy. Employees can look up any financial information whenever it is needed. There is less room for errors as only one accounting entry is needed for each transaction rather than two (or three) for a manual system. The accounting records are automatically updated and so account balances (e.g. customer accounts) will always be up-to-date… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

• Commercial Banking in Nigeria

Nair and Fisshab (2010) researched innovations in rural and agriculture finance in rural and community banks in Nigeria and found out that in Nigeria, commercial banks are the largest providers of formal financial services in rural areas. It was revealed that by the end of 2008, Nigeria had 127 Commercial banks with a total of 584 service outlets, representing about half of the total banking outlets in the country.

Facts also have shown that, before the late 1970s, rural dwellers in Nigeria had almost no access to institutional credit for farm and nonfarm activities, and in many rural communities, secure, safe… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RESEARCH METHODOLOGY

The Research Design

The research strategy adopted by the researchers is the multiple case study approach. The reason for this choice is to increase the reliability of the report as findings of the companies will be compared to find out the extent to which they follow a regular pattern.

Population

This study focused on 25 registered Commercial banks in Benin City, Edo State.

Sample and Sampling Technique

A stratified sampling technique was used to select this sample. The Banks were stratified as follows: computerized and networked bank, computerized but not networked, and partially computerized… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RESEARCH RESULTS AND DISCUSSIONS

The Need for Accounting Software

Of the three banks selected, two have already adopted Accounting software, First Bank and FCMB. However, GTBank is still in its adoption process. The two banks adopted Accounting software for several reasons including the under-discussed.

Increase in Efficiency and Effectiveness

At the turn of the millennium, the financial sector in particular, and the business environment in general, has become very competitive. In their quest to achieve the organizational goal of maximizing shareholders’ wealth through better customer service, the two banks adopted Accounting software suitable for their operations. They are of the belief that Accounting software help produces quality information that helps in the efficient and effective performance of their operations… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Operations of the company were voluminous

One of the main authorized businesses of a bank is to receive money (deposits) from the public and as well as lend or advance money as loans to the public. Banks, therefore, encounter a whole lot of people who are either coming in to make deposits or borrow. This, therefore, leads to a large number of transactions within which to process and also a huge database that must be maintained… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Source: Field Survey, May 2012

It must, however, be emphasized that the major factor considered by the banks before adopting their systems is to a large extent in line with what Waterfield et al (1998) said in their work that the use of computers in business is to ensure that all business and financial information is well organized effectively and efficiently.

It is however contradictory with Raymond and Bergeron (1992) who argued that businesses implement accounting software because of the advent of low-cost microcomputers among other reasons… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS

Summary

The research was organized to assess the impact of the use of Accounting software in the financial reporting of commercial banks in Nigeria. The study also had another objective of bringing out the problems encountered in the use of Accounting software. Advancement in technology is now the order of the day. Businesses are constantly looking for cost-effective, economic, and efficient ways of satisfying customers’ needs.

Thus, there is a need for businesses to be abreast of the current issues in technology to enhance their business. This is to help gain a competitive advantage over their competitors especially in this era where there are more banks springing up… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Conclusion

The study revealed that because of the numerous benefits that are associated with accounting software, more importantly, its ability to produce and present relevant and faithful representative financial reports to end-users, the government of Nigeria is assisting all Commercial banks to migrate onto common accounting software known as Terminus 24 through the Millennium Development Account.

This is going to serve as a platform in which all the commercial banks in the country are going to be networked to each other to facilitate faster and efficient banking… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Recommendations

Based on the empirical findings of the study, the following recommendations are offered to commercial banks in particular, and the players in the banking industry.

• The government, through ARB Apex Bank, should reinforce its computerization policy for commercial banks… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

REFERENCES

ABS (Australian Bureau of Statistics), (2000), Catalogue 8129.0 Business Use of Information Technology, Australia. Commonwealth of Australia

Baren, V., (2010), The Importance of an accounting software, available on http://www.ehow.com/facts_6786562_importance-computerized-accountingsystem.html#ixzz10yS7obSs; Accessed: 27/10/11

Beaver, William H. (1978) “Current Trends in Corporate Disclosure”, Journal of Accountancy, V.147: http://www.capitalideasonline.com/articles/index.php?id=2224

Burgess, S., 1998, Information Technology in Small Business in Australia: A summary of

Recent Studies, Paper presented to the USASBE Conference, Florida; January 15-18. [Available online on http://www.sbaer.uca.edu/Research/1998/USASBE], Assessed on 20^th October, 2011

Business dictionary (2011) http://www.businessdictionary.com/definition/capital allowance.html, accessed on 15^th February 2011

deSaintis, J., A brief history of Accounting: From prehistoric to the Information Age. Available at http://ensign.ftlcomm.com/historyacc/researchpaperfin.htm (accessed 28 September, 2011)

Elliot, B & Elliot, J (2006): Financial Accounting and Reporting, 11^th ed.: Pearson Education Limited, Harlow, England

Frenzel, C. W., (2006), Management of Information Technology

Gelinas, U., Sutton S., and Hunton, J., (2005) Acquiring, Developing and Implementing Accounting Information System, 6th Ed.: Thomson South-Western Education College, Cincinnati

Gorton, M., (1999): “Use of financial management techniques in the UK-based small and medium-sized enterprises: Empirical research findings”, Journal of financial management and analysis, Vol. 12 No. 1, pp 56-64

Grabski, S., and Marsh, J. (1994), “Integrating Accounting and Manufacturing Information Systems; an ABC and REA-based approach”, Journal of Information Systems: pp 61-80

Greuning, H., V. (2006): International Financial Reporting Standards; A practical guide, 4^thed. The World Bank

Head, B., (2000), “Small Business Should Log On and Write Off,” Business Review Weekly, March 24th, 22(11).

Kimunya, A., Fishstein, P., and Gaul, N., (2000): Guide to computerising your accounting system: The Manager, Vol. 8, No. 4

Nair, A., and Fisshab, A., (2010), Commercial banking: The case of Rural and Community Banks in Nigeria, International Food Policy Research Institute and the World Bank; July, Focus 18 Briefs

Nash, J., Heagy, C., and Courtney, H (1999): The design, selection, and implementation of accounting information systems: Dame Publication Inc., Houston

McMahon, G., and Holmes, S., (1991), “Small Business Financial Management Practices in North America: A literature review”, Journal of Small Business Management, April, Vol. 29, No. 2, pp 19-30

Paton, A., (1922): Accounting Theory; with special reference to the corporate enterprise, Kessinger Publishing (2009)

Proudlock, M., Phelps, B., and Gamble, P., (1999), “IT Adoption Strategies: Best Practice Guidelines for Professional SMEs,” Journal of Small Business and Enterprise Development, 6(3), 240-252.

(Scroll down for the link to get the Complete Chapter One to Five Project Material)

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After reviewing over serveral research proposals across multiple disciplines and serving on admission committees at three universities, I can tell you that most proposal failures happen before students even understand what they’re actually writing. A research proposal isn’t just a description of future work—it’s your strategic argument for why your research deserves approval, funding, and institutional support.

The Strategic Purpose Behind Every Research Proposal

Through my extensive review experience, I’ve identified that research proposals serve three non-negotiable functions that determine approval or rejection:

Demonstrates Research Necessity: Your proposal must prove there’s a genuine gap in knowledge that your study will address meaningfully. Generic topics or superficial investigations get eliminated immediately.

Establishes Your Competence: Committees need confidence that you possess the intellectual capacity, methodological skills, and practical resources to complete the proposed research successfully.

Proves Project Feasibility: Your timeline, methodology, and resource requirements must align realistically with your constraints while producing meaningful outcomes.

Every section of your proposal should advance these three objectives systematically.

The 8-Component Strategic Framework

Based on my analysis of successful proposals, here’s the precise structure that consistently produces approvals:

Component 1: Strategic Title Development

Your title functions as your proposal’s search engine optimization and first impression combined. I’ve observed that effective titles follow specific patterns:

Keyword Integration: Include terms that experts in your field would search for when looking for research like yours. Think about database searches and literature reviews where your work should appear.

Precision Without Jargon: Use specific terminology that demonstrates expertise while remaining accessible to interdisciplinary committee members.

Scope Indication: Your title should suggest the breadth and depth of your investigation without overpromising.

The Evolution Principle: I always tell students that titles will change as research develops. Focus on capturing your current direction accurately rather than crafting the “perfect” final title.

Testing Strategy: Before finalizing any title, I test it with three audiences: subject experts, graduate students outside the field, and intelligent undergraduates. If all three can understand your research focus, you’ve succeeded.

Component 2: Executive Abstract Construction

For research proposals, your abstract serves a different function than publication abstracts. Since you haven’t conducted the research yet, focus on these elements:

Problem Statement: One sentence clearly identifying the issue your research addresses.

Research Approach: Brief indication of your methodological strategy without technical details.

Expected Contribution: What knowledge or understanding will result from successful completion.

Significance Statement: Why this research matters to your field and broader applications.

Keep this section to 100-150 words maximum. Committee members often read abstracts first to determine whether full review is warranted.

Component 3: Literature Foundation and Gap Analysis

This section establishes your scholarly credibility while building the case for research necessity. Based on my review experience, successful literature sections accomplish four objectives:

Current Knowledge Mapping: Demonstrate comprehensive understanding of existing research in your area. This isn’t exhaustive bibliography—it’s strategic synthesis of key contributions.

Theoretical Framework Establishment: Position your research within appropriate theoretical traditions while showing familiarity with methodological debates.

Gap Identification: Pinpoint specific areas where current knowledge is insufficient, contradictory, or outdated. These gaps justify your research questions.

Your Contribution Preview: Explain how your research will address identified gaps while building on existing strengths in the literature.

I recommend organizing this section thematically rather than chronologically. Group sources around key concepts or debates rather than listing studies sequentially.

Component 4: Research Questions and Objectives Formulation

This section transforms your literature analysis into specific, answerable questions. Through my mentoring experience, I’ve developed this systematic approach:

Primary Question Development: Craft 1-2 overarching questions that address your identified gaps. These should be specific enough to guide methodology while significant enough to justify resources.

Sub-Question Strategy: Develop 2-4 subsidiary questions that break your primary questions into manageable components. Each sub-question should be answerable within your resource constraints.

Objective Alignment: Create measurable objectives that correspond directly to your research questions. Avoid vague objectives like “understanding” or “exploring” without specifying success criteria.

Originality Verification: Ensure your questions haven’t been answered definitively by existing research. Your contribution should be novel, whether through new populations, updated contexts, or innovative methodological approaches.

Component 5: Comprehensive Methodology Design

This section often determines proposal acceptance because it demonstrates your ability to execute proposed research competently. Address these critical elements systematically:

Methodological Paradigm: Position your study within appropriate research traditions (quantitative, qualitative, mixed methods) with clear justification for your choice over alternatives.

Research Design Specification: Detail whether your research is exploratory, descriptive, correlational, experimental, or another type, explaining how this design best serves your research questions.

Data Requirements Analysis: Specify precisely what information you need to answer your research questions and why these data types are necessary and sufficient.

Collection Strategy: Describe your data gathering approaches with sufficient detail that another researcher could replicate your methods. Include timeline, settings, and procedural steps.

Analytical Framework: Explain how you’ll process and interpret collected data. For quantitative research, specify statistical approaches. For qualitative research, describe coding and interpretation procedures.

Limitation Acknowledgment: Address constraints your methodology imposes on findings interpretation. This demonstrates scholarly maturity and methodological sophistication.

Contingency Planning: Outline alternative approaches if primary methods encounter obstacles. Research never proceeds exactly as planned, and committees want evidence that you’ve considered this reality.

Component 6: Significance and Impact Justification

Many students underestimate this section’s importance. You must convince reviewers that your research warrants institutional support and resource allocation:

Theoretical Contribution: Explain how your research will advance understanding in your field. Will you challenge existing theories, extend current models, or develop new frameworks?

Practical Applications: Describe real-world implications of your research. How might practitioners, policymakers, or other stakeholders use your findings?

Methodological Innovation: If applicable, explain how your approach contributes to research methodology in your field.

Future Research Foundation: Discuss how your work will enable subsequent investigations by yourself or other researchers.

Interdisciplinary Impact: Consider how your research might influence related fields or cross-disciplinary collaboration.

Component 7: Realistic Timeline Development

Timeline planning demonstrates project management competence while proving feasibility. Based on my experience, effective timelines include:

Phase Structure: Divide your research into logical phases (preliminary work, data collection, analysis, writing) with clear milestones and deliverables.

Buffer Time Integration: Add 25-30% additional time to each phase for unexpected delays, revisions, or complications. Research always takes longer than initial estimates.

Dependency Mapping: Identify which tasks depend on others’ completion and plan accordingly. Data analysis can’t begin until data collection concludes.

Resource Coordination: Align your timeline with resource availability, including supervisor availability, funding cycles, and institutional requirements.

Flexibility Indicators: Show awareness that timelines may need adjustment while maintaining overall project feasibility.

Component 8: Strategic Bibliography Construction

Your reference list reveals the depth and currency of your preparation. I recommend this strategic approach:

Source Selection: Include 8-12 key sources that directly inform your research questions and methodology. Quality matters more than quantity.

Currency Balance: Combine recent sources (past 3 years) that show contemporary engagement with seminal works that established key concepts.

Methodological Support: Include sources that justify your chosen research approaches and analytical strategies.

Theoretical Foundation: Reference key theoretical frameworks that inform your research perspective.

Gap Documentation: Include sources that demonstrate the knowledge gaps your research addresses.

Advanced Quality Assurance Strategies

Coherence Verification

Before submitting any proposal, conduct this systematic review:

Logical Flow Assessment: Does each section build naturally on previous sections while advancing your overall argument?

Question-Method Alignment: Do your chosen methods actually address your research questions effectively?

Scope Consistency: Is your proposed research appropriately sized for your timeline, resources, and academic level?

Contribution Clarity: Will successful completion genuinely advance knowledge in meaningful ways?

Expert Validation Process

Seek feedback from multiple perspectives before submission:

Content Experts: Subject matter specialists who can evaluate your literature engagement and theoretical positioning.

Methodological Reviewers: Researchers familiar with your chosen approaches who can assess technical soundness.

Generalist Readers: Intelligent individuals outside your field who can evaluate clarity and persuasiveness.

Common Failure Patterns to Avoid

Through my review experience, I’ve identified these consistent proposal weaknesses:

Scope Misalignment: Projects too ambitious for available resources or too narrow for academic level requirements.

Methodological Disconnection: Research questions that require different approaches than those proposed.

Literature Superficiality: Insufficient engagement with current scholarship or missing key theoretical frameworks.

Feasibility Overestimation: Unrealistic timelines or resource requirements that suggest poor planning abilities.

Significance Understatement: Failing to articulate clearly why the research matters beyond personal interest.

Frequently Asked Questions

How long should my research proposal be?

Most institutions require 2,000-2,500 words for research proposals, though some specify different lengths. Focus on completeness rather than exact word count—include all necessary components while respecting specified limits.

Should I include preliminary data in my proposal?

Include preliminary data only if it strengthens your case for the proposed research. Preliminary findings can demonstrate feasibility or suggest promising directions, but they shouldn’t overshadow your main research plan.

How many sources should I cite in my literature review section?

For proposal literature reviews, 15-25 high-quality, directly relevant sources usually suffice. Emphasize synthesis and gap identification rather than comprehensive coverage.

Can I change my research focus after proposal approval?

Minor adjustments are normal as research progresses, but major changes typically require additional approval. Discuss significant modifications with supervisors early rather than proceeding independently.

How technical should my methodology section be?

Include enough technical detail that reviewers can assess your competence and feasibility, but avoid unnecessary jargon. Write for knowledgeable readers who may not be specialists in your exact methods.

What if my proposed research has been done before?

Truly identical research is rare. Focus on what’s different about your approach: population, context, methodology, theoretical framework, or temporal focus. If work is genuinely duplicative, find a new angle or research question.

Should I mention potential problems with my research?

Absolutely. Acknowledging potential limitations and obstacles demonstrates scholarly maturity and realistic planning. Include contingency approaches for addressing anticipated challenges.

How do I balance ambition with feasibility?

Start with ambitious goals, then systematically reduce scope until your project fits available constraints. Better to execute excellent limited research than attempt overly ambitious projects that compromise quality.

What’s the most important section of a research proposal?

While all sections matter, the methodology section often determines approval because it demonstrates your ability to execute the proposed research successfully. Invest significant time in developing this section thoroughly.

How far in advance should I start writing my proposal?

Allow minimum 6-8 weeks for proposal development, including literature review, writing, and revision cycles. Complex proposals or those requiring extensive literature review may need 3-4 months of preparation.

Research proposal writing represents a critical skill that extends far beyond initial applications. The strategic thinking, project planning, and persuasive writing abilities you develop through this process will serve you throughout your academic and professional career.

Remember that proposal approval is just the beginning—your proposal becomes the roadmap guiding your actual research journey. Investment in crafting thorough, realistic proposals pays dividends throughout the entire research process.

For students seeking expert guidance in developing research proposals that meet current academic standards and institutional expectations, professional consultation can provide invaluable support in navigating complex requirements and increasing approval likelihood. Consider working with experienced research proposal writing services that understand the nuanced demands of contemporary academic research across different fields and institutions.

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ABSTRACT

The study investigated the measures adopted by homemakers in the management of domestic energy within households in urban and rural areas of Abia State. Specifically, the study identified the various sources of domestic energy used within households. Also, the study determined the measures taken by homemakers to improve the use of domestic energy. Two research questions and one hypothesis tested at 0.05 level of significant guided the study.

The study adopted a descriptive survey research design. The study was carried out in Abia State of Nigeria. The population of the study comprised of 442,693 households in the area of the study. The sample size was 400 homemakers who were purposefully drawn from the population. Questionnaires were used for the data collection. The instruments were face validated. The internal consistency of the instrument was 0.89. Data were analyzed using means for research questions while ANOVA was used to test the hypothesis at the level of significance. (energy management)

The Scheffe’s post hoc test was used for comparison of means of items that were significantly different… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

INTRODUCTION

In the olden days, before the advent of civilization, homemakers depended on a source of domestic energy for household activities. Also, with the advent of civilization, they still rely on a device as a means of generating the energy needed for the household activity. Thus, the above information shows that from the pre-civilization era, to date, homemakers have been accessing their domestic energy needs through a source. Energy sources are grouped into non-renewable sources such as biomass, solar and biofuels, secondary sources such as electricity, solar, and hydropower. The sources of energy for household activities are electricity, liquefied natural gas, kerosene, charcoal, fuelwood, solar power, and petrol. (energy management)

A. Kuper and J.Kuper (2004) said that the ability of any society to survive depends on its continuing access to energy inappropriate qualities (energy management), quantities, and its acceptable cost, so domestic energy is one of the most important utility households need to achieve their goals. Domestic energy is the energy used in the home on the various appliances used within households (energy management). These are also energy applied for various purposes in the households including cooking, lighting, water heating, powering appliances, cooling of the space, laundry, and sterilization of equipment. (energy management)

The amount of energy (energy management) used per household varies widely depending on the standard of living of the household, price, age, climate, and type of residence (Varghese, Oghale, 2005). Management is the skill of putting all the resources to work for the family (Campbell, 2008). He further asserted that Management involves identifying and using resources, making decisions, and solving problems. Management in this works is the ability of the homemakers to utilize resources and household members to meet the needs of households. (energy management)

Therefore, domestic energy management is the effective use and control of domestic energy to achieve definite goals with maximum efficiency. Further, management of domestic energy is the ability of the homemakers to apply the components of management in the utilization of domestic energy such components are planning, organizing, implementing, and evaluating to meet the needs of the households (Sethi, 2008). (energy management)

Sunrise every household is a consumer of domestic energy (energy management), therefore, homemakers should also be efficient in the usage of the domestic energy. M.Sethi (2008) stated that the management of domestic energy (energy management) needs some elements of skill acquisition. He distinguished three types of management skills namely (Scroll down for the link to get the Complete Chapter One to Five Project Material)

LITERATURE REVIEW

Overview of Energy Use

The amount of energy consumption is influenced by the level of development (energy management) and as such varies from one country to another. Researchers have shown that the industrialized nations used most of the world’s energy, while less developed nations used much less;  this is supported by the findings of Enger and Smith (2004) which stated that the industrialized nations use energy equally within three sectors i.e, residential, transportation and industrial as against the predominant use of energy for residential purposes (cooking and heating) by less developed countries. (energy management)

They further reported that the amount of energy required for commercial and residential use varies from country to country. They said this because though a country with high GDP uses a large amount of energy, a lower percentage of its energy per capita is used for residential and commercial needs than does a less developed country. They went further to explain that while 30 percent of the energy used in North America is for residential and commercial purposes, in some developing nations 90 percent is used in the residential sector. They also talked about variations in residential energy use between countries and regions. (energy management)

They recognized that energy in the residential sector to the tune of about 75 percent is expended on air conditioning, refrigeration, water heating, space heating as well as internet issues in North America. This contrasts sharply with about half of residential energy in Africa being used toward cooking they explained.

Like other less developed countries, most of the energy consumed in Nigeria is in the residential, and it is mostly for cooking, heating, and lighting. Olajide and Odugbenro (1999) identified the household sector as the largest energy consumer in the economy, accounting for about 90 percent of the traditional fuels, especially fuelwood and 25 percent of the commercial energy… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

SOME MOTIVATING FACTORS FOR HOUSEHOLD ENERGY CONSUMPTION PATTERN

The pattern of energy (energy management) use at household level varies according to the educational level of the user, climate, rural-urban dichotomy, cultural background, purchasing power as well as availability and distance of the energy source and of course government policy, which sometimes dictates the rate of supply which may also modify energy demand. All these factors overall could influence population distribution, while the population dynamics itself ultimately affect energy consumption patterns. (energy management)

Education and Seasonality As It Affects Energy Consumption

Survey of energy use in Northern Nigeria by Silviconsult (1991) identified that households whose heads have little or no formal education (western education) consume more wood than those with some background of formal education. The reason could be that modern education has motivated people to use of cleaner and less healthy risky energy sources than traditional wood commonly used.

Fuel preference also affects the pattern of energy use,  hence  in the  same study, Anodeisus leiocarpus (marke) tree species was the most preferred for  cooking due to its burning speed, convenience and relative cost. On the issue of seasonality, the same study identified that 85 percent of households use more wood during cold season for heating and lighting, while 25 percent use charcoal, kerosene gas, and electricity.

This study, therefore, identified the cold season as a motivating factor for more consumption of energy in the household, especially for heating… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

METHODOLOGY

This study employed a survey research design (SRD) method. The area of the study is Abia State. Abia State is in the South-Eastern part of Nigeria. Population for the study comprised all households in the state. A typical household is made up of husband, wife, children, and other persons. Each household occupies a single housing unit and utilizes domestic energy. Available records indicate that there are 442,693 households in the area of the study (National Population, 2006). (energy management)

The sample for the study was 430 households which were used for the questionnaire and the focus group discussion session (FGD). Taro Yamen formula for the finite population was used to determine the number of households (Uzoagulu, 2011). Multistage sampling was used for selecting the number of the households while one Local Government Area was purposely selected from each zone. These gave three LGA’s. Each of the three LGA’s was represented by a town that is the head-quarter of the zone and a village. In the third stage, systematic random sampling was employed to select every 5^th street and every house in the street. (energy management)

According to Abia State Town Planning Authority (2012) there 75 streets in Umuahia, 160 Streets in Aba, and 38 Compounds in Eben Ohafia. This gave Umuahia 15 streets, Aba town 32 streets, and Ebem 8 compounds, giving a total of 55 streets on the whole… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RESEARCH FINDINGS AND DISCUSSION

The following findings were made:

• the homemakers in urban and rural households of Abia State adopted the 14 measures identified in the study;
• all the strategies for improving the measures adopted by homemakers were all accepted by the respondents.

Table 1: Mean scores of the respondents of the homemakers on the measures adopted in the use of domestic energy

Key: U = urban homemakers, R = rural dweller homemaker,

XG = grand mean, total respondents = 344, SD = standard deviation.

Table 1 shows that the 14 items on the measures adopted in the use of domestic energy were all accepted. This is because the means ranged from 2.94 to 3.40 which were above the cutoff point of 250 and above. The SD of all the items ranged from 0.71 to 0.92 (Table 1). This indicates that the respondents were too far from the mean of each item and were close to one another in their opinion… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

CONCLUSIONS

The following conclusions were drawn based on the findings of the study. The homemakers in households of Abia State adopted positive measures in the management of domestic energy in order to avoid accidents and waste of domestic energy. Creating awareness of these measures are needed for effective management of domestic energy, it will help to improve the practices that they are presently adopting in households of Abia State and this will bring improvement in the welfare of the individual households… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RECOMMENDATIONS

From the findings of the study, it is hereby recommended that:

• The government should support the households with the purpose of making the cleaner domestic energy easily accessible and affordable to both rural and urban homemakers because the emergence of a stable household is not possible without domestic energy… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

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INTRODUCTION

The internet has been developing way much at a rate beyond initial expectations. It has become the medium choice for people to search for information, conduct business, and enjoy entertainment. It offers an abundance of information that is accessible to anyone with an Internet connection. Recently, with the progressive influence of social media, the information culture of many people has changed. Services such as Facebook, Twitter, and eBay increasingly determine everyday life and offer new ways of communication.

Hence, it is sometimes hard to imagine modern societies without people who spent hours on the Internet chatting with their friends, reading news, playing games, or working. This trend of transformation in online behavior will definitely hold true in many more decades to come.

Today’s technical transformation standards are available through networked technologies modems rendering earlier forms of cable broadband seem antiqued hence raising the question: Is the Internet just another form of communications medium that is equivalent to the earlier forms such as telephony or broadcasting and hence subject to similar regulatory control by states or has it become something different altogether?

Broadcasting (television, the radio, and cable), as well as telephony (fixed and mobile), have been regulated almost from their invention, rendering their use to be subject to the laws of most if not all the states. “These laws are an ultimate determinant as regards the lawful and unlawful uses of the technology by controlling their use via the administrative and judicial powers of the state. The Internet has with no doubt proven to be different.”

“Law enforcement understood in the broadest sense to encompass both public and private law is unusually problematic in the special environment of cyberspace.

Not only can it be difficult to locate an anonymous or pseudonymous internet user within any specific territorial jurisdiction, but also the global nature of the internet decreases the likelihood that the parties to online disputes will be subject to control by the same territorial law enforcement entities”

For example: Consider the difficulties faced by country B of prosecuting an individual resident in country A for material on the Internet that is illegal in country B but lawful in country A. This has in most instances advanced the legal issues relating to Conflicts of Laws.

This created a quagmire for the application of state laws for Internet transactions. Such laws applied to crimes relating to defamation, hate speech, intellectual property. As technology advances, we are seeing the evolution of the threat of cyberspace security where hackers and fraudsters are becoming more sophisticated and grouping in organized networks worldwide.

In Kenya, the Communications Association of Kenya (CAK) and the government generally have been tasked with a specific mandate to facilitate access that leads to increased use of the cyberspace… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

The Cyberlibertarians

This is the legal writing on the subject of the regulation of the Internet. Much of the writing in this field is not the traditional academic legal discourse. It has been filled with metaphors as large as the outback and political /legal/cultural/social ideas rooted in various libertarian dogmas.

“Cyberlibertarians, in line with the classic libertarian thinking is marked by distaste for government and faith in the market about regulation.” Indeed the Internet is and will continue being a medium that will prove to be extremely difficult or impossible to control as the Internet has transcended geographical borders and is built-in anonymity.  The internet has also proved to be a space of freedom, a bringer of the benefits of liberty, free speech, and democracy… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Research Questions

The main question this research seeks to answer is whether and how the challenges of data use and abuse arise and how they can be curbed, including the possibility of its trans-border use through the applicability of coercive powers in an evolving technological environment, e.g. regulating the interception of telecommunications and strengthening electronic surveillance of various information networks.

Hence, rendering illegal some material and requiring service providers to comply with critical as well as special obligations that include taking into account problems caused by particular measures of information security, such as encryption… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

THE INTERNET AS A THREAT TO SOVEREIGNTY

Introduction

Cyber Crime is the latest type of crime that affects many people. It refers to the criminal activities taking place in computerized devices or computer networks.

This includes (but not limited to) intentionally accessing without permission, altering, damaging, deleting and destroying the database available on the computer or network, and unpermitted access on a database or program of a computer in order to devise or execute any unlawful scheme or intent to wrongfully control or obtain money, property or data.

Cybercrime poses one of the biggest challenges for the Police, Prosecutors, and legislators. Most of those indulging crimes of this nature are usually the young teens, recreational computer programmers, and persons having vested interest. Cybercrime practiced is virtually in the form of offenses such as tampering with the source code of a program, hacking into computer systems, the publication of information considered obscene, and misuse of digital signatures and or licenses.

The problem is multifold as it covers the crimes related to economy and social crimes such as pornography which has its basis in certain moral standards and uses parameters like indecency and obscenity… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

“Terrestrial Crime” versus “Cybercrime”

Cybercrimes differ from terrestrial crimes: “They are easy to learn how to commit; they require limited resources relative to the potential damage caused; they can be committed in a jurisdiction remotely (one need not be physically present), and are often not clearly illegal.”

Until the last century, crime was at a small-scale, consisting of unlawful acts committed by an individual or a few loosely-associated individuals and directed against a single victim or an entity. Some offenders, of course, sought to make crime their profession, but their activities remained at a small-scale and limited to the repetitive commission of certain single-victim offenses.

The “crimes,” were generally consistent across societies, and fell into standards, and clearly-defined categories that reflected the basic categories of anti-social motivations: crime was murder, robbery, and rape. Criminal tendencies were more personal; if the offender(s) and the victim were not familiar with each other, they were likely to share community ties that put offenses into a manageable and knowable context. This not only facilitated the apprehension process of offenders-who stood a good chance of being identified by the victim or by reputation but it also gave citizens the illusion of some security.

The conceit that they could avoid victimization if they avoided certain activities or certain associations. Law enforcement locally dealt effectively with this type of crime as its parochial character meant a limited scope of investigations and the fact that crime incidences stood in relatively modest proportion to the local populace size. Law enforcement’s effectiveness in this regard contributed to a popular perception that a form of social order was being maintained and that crime did not go unsolved or unpunished… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

What Measures Are Being Taken to Combat Cybercrime at the National and International Levels?

Since the 1970s, there has been a consensus growth in existing criminal laws covering the variety of computer-related crimes . . . either they do not cover some computer abuses or are not strong and clear enough to discourage computer crimes and allow expeditious prosecution.

The recognition of the inherently transborder nature of cybercrime by various international and supranational organizations, has led to the ensuing limitations of unilateral approaches, and the need for international harmonization of legal, technical, and other solutions.

In particular, the Organization for Economic Co-operation and Development (OECD), the Council of Europe, the European Union,  the United Nations, and Interpol have played leading and important roles in building international awareness and cooperation in this regard… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Harmonization of Conventional State Regulations

Introduction

“It is generally accepted that some degree of harmonization between countries is vital if effective regulation of cybercrimes is to be achieved”.  Although many offenses are transnational in nature — for instance, human trafficking, weapons and drugs, money laundering, and terrorism but cybercrime presents unique challenges due to the inherently transnational nature of the underlying technology. No other type of crime can become transnational so effortlessly.

The Bredolab Botnet, for example, was estimated to have infected 30 million computers at its peak, generating 3 billion infected emails per day. At a more fundamental level, the nature of modern communications is such that even where offender and victim are in the same jurisdiction, evidence of the offending is almost certain to have passed through, or to be stored in, other jurisdictions.

In a recent United Nations study, over half of responding countries reported that ‘between 50 and 100 percent of cybercrime acts encountered by police involved a “transnational element”… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

• Comprehensive

To date, the focus of cybercrime laws around the world has largely been on the aspect of criminalization — creating new offenses or adapting existing offenses to address the challenges of cybercrime. However, this is merely one aspect and from its inception the Convention sought to provide a comprehensive response, addressing issues of substantive offenses, procedural laws, and international cooperation. Aside from provisions concerned with ancillary and corporate liability and sanctions the Convention provides for four broad categories of substantive offense: (1) offenses against the confidentiality, integrity, and availability of computer data and systems;  (2) computer-related offenses (computer-related fraud and forgery); (Scroll down for the link to get the Complete Chapter One to Five Project Material)

• Protective

The goal of harmonization, particularly across such a broad spectrum of laws, will inevitably come into conflict with differences in national principles, whether legal or cultural. This is most apparent in the protection of individual rights, where the tension between the need to improve law enforcement capabilities whilst protecting individual freedoms and privacy has been recognized for some time.

Recent revelations concerning ‘almost-Orwellian’ government programs for the bulk collection of metadata have dramatically underscored the need to ensure due process and effective rights protection in the digital environment. This has recently prompted the United Nations to state that it is deeply concerned at the negative impact that surveillance and/or interception of communications … as well as the collection of personal data, in particular when carried out on a mass scale, may have on the exercise and enjoyment of human rights’… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

CONCLUSION AND RECOMMENDATIONS

Conclusion

To see harmonization as a destination is unrealistic; it is a process. As the technology evolves and changes so too our responses will need to evolve and change. Each country has the obligation to determine what it considers necessary to effectively combat cybercrime, looking to national, regional, and international standards in enacting laws that best suit its national circumstances.

About 3,000 cybercrime-related incidences are reported in Kenya every month according to a tally released by an organization tracking internet security… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Recommendation

Cyberspace is the fifth common domain – after land, sea, air, and outer space. This calls for a greater need for national and international coordination, cooperation, and legal measures. A cyberspace treaty or a set of treaties should be the global framework for peace, security, and justice in cyberspace.

As part of the progressive development of international law, it is important to note that, despite the binary debate about the Convention versus a United Nations Convention in some way presents a false dichotomy. Each country should be able to determine what it considers necessary to effectively combat cybercrime, looking to the national, regional, and international standards in enacting laws that best suit its national circumstances.

Nonetheless, the Convention provides a crucial benchmark against which such efforts can be measured, providing an internationally recognized framework for the harmonization of cybercrime laws… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

BIBLIOGRAPHY

BOOKS

Adomi E & Igun S E Combating Cybercrime in Nigeria (2008) p.718-719 Johnson and Post, ‘Civic Virtue’ 1998

Pawlak, P. (ed.), Riding the digital wave: The impact of cyber capacity building on human development.

Salifu A The impact of internet crime on development (2008) p.438

Solove D J The Digital Person: Technology and Privacy in the Digital Age, (2004) New York University Press, New York and London pp.1-17 at p.

Susan W Brenner, ‘The Council of Europe’s Convention on Cybercrime’ in Jack M Balkin et al (eds), Cybercrime: Digital Cops in a Networked Environment (New York University Press, 2007) 207, t 210–12.

JOURNAL ARTICLES

(Bomse, 2001). (. For an interesting and rather scathing polemic the ideology driving cyberlibertarians,; read the California Ideology http://media.wmin.ac.uk/HRC/ci/calif5.html (the author makes no claim to being unbiased.) UCLA Journal of Law and Technology.

“Love bug” Prompts New Philippine Law, US Today (June 14, 2000), available at http://www.usatoday.com/life/cyber/tech/cti095.html

< http://www.eff.org//Publications/John_Perry_Barlow/barlow_0296.declaration>

Alana Maurushat, ‘Australia’s Accession to the Cybercrime Convention: Is the Convention Still Relevant in Combating Cybercrime in the Era of Botnets and Obfuscation Crime Tools?’ (2010) 33 University of New South Wales Law Journal 431, 432

Alisdair A Gillespie, ‘Child Protection on the Internet — Challenges for Criminal Law’ (2002) 14Child and Family Law Quarterly 411, 411–12.

REPORTS

Australian Law Reform Commission, Classification — Content Regulation and Convergent Media, Report No 118 (2012). (Jurisdictional Conflict)(Jurisdictional Conflict)(Jurisdictional Conflict)(Jurisdictional Conflict)

Brigitte Acoca, ‘Scoping Paper on Online Identity Theft’ (Ministerial Background Report No DSTI/CP(2007)3/FINAL, Organisation for Economic Co-operation and Development, 2008) 16–24; Model Criminal Law Officers’ Committee of the Standing Committee of Attorney’s-General, ‘Identity Crime’(Final Report, March 2008). (Jurisdictional Conflict)(Jurisdictional Conflict)(Jurisdictional Conflict)(Jurisdictional Conflict)

Broadband Commission for Digital Development, ‘The State of Broadband 2012: Achieving Digital Inclusion For All’(Report, International Telecommunication Union, September 2012). Convention Explanatory Report.(Jurisdictional Conflict)(Jurisdictional Conflict)(Jurisdictional Conflict)

Council of Europe, Committee of Ministers, Recommendation No R (89) 9 of the Committee of Ministers to Member States on Computer-Related Crime (adopted 13 September 1989). (Jurisdictional Conflict)(Jurisdictional Conflict)

Explanatory Report, Council of Europe, Convention on Cybercrime, 171 (November 8, 2001), http://conventions.coe.int/Treaty/EN/CadreListeTraites.htm  (Jurisdictional Conflict) (Jurisdictional Conflict)

NEWSPAPER ARTICLES

DAILY NATION By Lilian Ochieng’ on Tuesday January 28, 2014 (Jurisdictional Conflict)(Jurisdictional Conflict)

STANDARD DIGITAL By Linah Benyawa on Tuesday June 7, 2016 (Jurisdictional Conflict) (Jurisdictional Conflict)

INTERNET SOURCES

‘Putin Defi es Convention on Cybercrime’, CNews (online), 27 March 2008 <http://eng.cnews.ru/news/ top/indexEn.shtml?2008/03/27/293913>. (Jurisdictional Conflict) (Jurisdictional Conflict) (Jurisdictional Conflict)

Australia, Belgium, France, Japan, the United Kingdom and the United States: see Council of Europe, List of Declarations Made with Respect to Treaty No 185 http://conventions.coe.int/Treaty/Commun/ ListeDeclarations.asp?NT=185&CM=8&DF=&CL=ENG&VL=1 (Jurisdictional Conflict)

Balancing Act News Update Africa’s policies forces begin to gear up to fight  cybercrime http://www.balancingactafrica.com/news/back/balancing_act_184.html (Jurisdictional Conflict) (Jurisdictional Conflict)

Caller ID Traced “Love Bug” Virus, APBNEWS.COM, (May 15, 2000), at http://www.apbnews.com/newscenter/internetcrime/2000/05/15/lovebugid0515_01.html (Jurisdictional Conflict)

Charges Dropped Against Love Bug Suspect, USA TODAY, (Aug. 21, 2000), available at http://www.usatoday.com/life/cyber/tech/cti418.html

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Customer Targeted E-Commerce  PHP PROJECTS

Abstract

Customer get many benefits via online shopping this helps e-commerce companies to build long-lasting and profitable relationships with their customers. For making strong relationship with these users it is very important to focus on the customer as a whole and making sense of a flood of real-time information that goes well beyond demographics or shopping behavior. There are two entities who will have the access to the system. One is the admin and another one will be the registered user. Admin can add product details, view all the order details and can also view the sales of the products. User need to register with basic registration details to generate a valid username and password. After the user logins, it can view all the products that are recommended on the homepage compiled by the system based on user’s information. From the recommended products, the user can even further view its details and then if interested to buy, the system gives add to cart option for purchasing the product. The system even has an AI bot with the help of which the user can get answers to queries like features, warranty, price etc. details of the products. This AI Bot even converts text to speech. After selecting the product, user can do payment for the particular product online. Users can view their order history of their purchased product.Customer Targeted E-Commerce

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INTRODUCTION

Background of the Study

Commercial banks play an important role in the economic development of developing countries. Economic development involves investment in various sectors of the economy. The banks collect savings from the people and mobilize savings for investment in industrial projects. The investors borrow from banks to finance the projects.

Special funds are provided to the investors for the completion of projects. The bank provides a guarantee for an industrial loan from international agencies. The foreign capital flows to developing countries for investment in projects.

Commercial banks are involved in the process of increasing the wealth of the economy, particularly the capital goods needed for raising productivity. The developed economies need the service of the banking system to enable the economy to attain economic growth, while the developing economies need the service of the banking system for sectorial development… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

The Role of Commercial Banks in Economic

The banking system is a catalyst and engine of growth that is responsible for being a livewire to every sector of the economy. It is evident that no sector in the economy can flourish or prosper without the support and services of the banking sector, agricultural sector, manufacturing sector, mining, or even services sector can’t do without banks. Commercial banks provide and encourage savings.

The establishment of a commercial bank especially in the rural areas makes savings possible, hence economic development is accelerated. Commercial banks provide the capital needed for development. Deficit spender unit obtains medium and short term loans and overdraft from commercial banks to start a new industry or to engage in other development efforts. They engage in trade activities by making use of cheques and other financial instruments possible.

They encourage investment; provide direct loans to the government and individuals for investment purposes. They provide managerial advice to small-scale industrialists who do not engage in the service of a specialist. Commercial banks also render financial advice to their customers including investing in. Commercial banks create money as an instrument to the apex bank for all its activities… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Statement of the Problem

Given that the economic trend of the commercial banking industry, one wondered what has hindered economic growth, though an important avenue for banks to boost the growth of the economy through the efficient and effective saving-investment process(financial intermediation) to stimulate investment and productive activities.

For the past three decades, the Nigerian economy has not shown any favorable sign of growth. For example, the real GNP growth rate figure was 2.8% in 1995 with negative figures in years like 1982, 0.3%, etc as depicted in the CBN periodic bulletin in 1986.

This shows that the Nigerian economy is not one that can inspire confidence if no drastic improvement is shown by financial institutions with its economy especially in the new millennium… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Research Objectives

The objectives of this research work are tacitly stated as follows.

• To determine the contribution of commercial banks towards positive economic growth and wealth creation… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

LITERATURE REVIEW

The availability of financial capital is a prerequisite for the rapid development and transaction of any nations economy, it is generally acknowledged that the provision and efficient management of the scarce resources is facilitated by the existence and appropriate functioning of financial institutions in the economy, it follows that bank has a vital role to play by making their vast financial resources available for financing and promoting development.

According to Anyaele J.O. (1990), commercial banks are institutions set up purposely for safekeeping of money, valuable goods, and documents like wills and others.  He said the existence of banks has been a big boost to business activities.

In an annual dinner of the Nigerian Institute of bankers in 1975 in Lagos, the governor of the central bank, Mallam Adamu Ciroma, blamed the “excess liquidity in the banking system.”  He saw the strict adherence of the commercial banking system to the orthodox doctrine of the lending short term loans as an in the desirable act and urged commercial banks to take some risk in a given medium and long term loans.

Some of the changes that come out of the foreign public reaction of commercial bank activities are in the area of declining contribution… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

History of Commercial Banking in Nigeria

Commercial banking activities started in 1892 with the establishment of the African Banking Corporation ledger depositor and Co. a shipping company based in Liverpool was instrumental in its formation.  This bank was, however, taken over in 1984 by the bank of the British West African which later became a standard bank and now first bank of Nigeria Plc with the bank on observation.

The next was Barclays bank and the company (now Union Bank of Nigeria Plc) was established in 1917.  These banks were set up to provide banking services for the British Commercial interest and the colonial administration in West African when the west African currency board (Gyasi Central Bank) was set up in 1912, the bank of British became the agent of the currency board… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Banking Function in the Economy

Below are some of the products and services the bank offers to its numerous customers in promoting economic development in Nigeria.

• Term Loans: To enable their customer finance specific projects which usually require large capital outlay, the bank provides medium to long term financing for a new project and project expansion.
• Overdraft Facilities: The bank services also include the provision of short-term facilities in the form of overdrafts. The overdraft facilities are usually granted for a maximum period of one (1) year (which may be renewed annually) to enable their client to meet pressing cash calls or finance their working capital needs… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

CBN Regulations on Commercial Banks

Commercial banks operate, usually as most other profit-maximizing business organization. But unlike most other enterprises, the “private business” of commercial banks impinges in many important ways, on the public interest.  In fact, banks are considered so vital to the welfare of the community within which they operate that government considers it unwise for them so be permitted to operate free of all constraints.

The result is that commercial banks are subject to more control than most other profit-seeking enterprises. Commercial banks are subject to special numbers of peculiar attributes, which makes that existence; structures are performances vital to the rest of the economy… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

The following are the instrument used by CBN to regulate the activities of commercial banks:

• Open Market Operation: Open market operation (OMO) means that buying and selling of short term and long term government securities in the money and capital market by the CBN sells government securities… (Scroll down for the link to get the Complete Chapter One to Five Project Material)
• Liquidity Reserve Ratio: The liquidity reserve ratio specifies the required ratio of certain selected assets and securities to the deposit liability of commercial banks (treasure bill and treasury certificates). The major use of liquidity reserve ratio is helping to float government securities by providing a ready i.e… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RESEARCH METHODOLOGY

• Introduction

This chapter presents the methodology employed in the study in an effort to establish the impact that the banking sector has on economic growth in Nigeria. In this regard, the section starts off by explaining the econometrics methodology used and presenting the model specifications, before it goes on to explain the data used, the period covered, its source and frequency.

Furthermore, the section provides the sampling method considered, justification of variables used as well as the methods employed to analyze the data collected. The section closes off by highlighting the research validity and reliability as well as its limitations.

• Research Approach and Strategy

According to McMillan and Schumacher (2001), the research design is a plan for a study that sets out the activities to be undertaken, such as data collection procedures and sampling strategy in order to provide answers to the research questions.

In this regard, the study makes use of a quantitative approach, thereby employing the mathematical, statistical, and numerical analysis of the data to establish the relationship among measured variables. The study is therefore of an explanatory nature, in the sense that it employs an econometrics model to analyze the relationship and cause factors among various bank-specific variables and the macro-economic variable.

This research approach allowed for the quantitative data collection for all the variables considered in the study in order to answer the research questions and achieve the research objectives.

Specification of the Model

The model is specified based on the empirical literature reviewed with regard to the relationship between banking sector development and economic growth in various jurisdictions.

In this regard, the model is specified in a similar manner to the studies that also examined the long-run relationship between banking sector development and economic growth such as Aurangzeb (2012), Petkovski and Kjosevski (2014), Ojiegbe et al. (2016) while making minor adjustments to suit the Nigerian environment.

This confirms that the specification of the model is well-aligned to similar studies conducted in different jurisdictions… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

• Data Analysis Methods

Toinvestigatetherelationshipbetweenfinancialdevelopmentandeconomicgrowth, the study employed the autoregression distributive lag modeling (ARDL) approach as it was also used in a similar study by Kiprop et al. (2015). The choice of this model is justified by so many reasonsasoutlinedbyPesaranandShin(1999).

Firstly, this approach enables simultaneous estimation for both short-run and long-run coefficients. Secondly, all the variables enter the model as endogenous… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RESEARCH FINDINGS AND DISCUSSION

Introduction

This chapter presents the results and the detailed empirical analysis of the study on which the conclusion and recommendations were based. The section on empirical analysis is divided into nine sub-sections as follows.

Section 4.2.1 presents the correlation coefficient test, section 4.2.2 presents the unit root test, section 4.2.3 presents the determination of the optimal lag length, section 4.2.4 presents the cointegration test, while section 4.2.5 and 4.2.6 presents the long term and short term ARDL regression results, respectively.

Furthermore, section 4.2.7 presents the bivariate error correction models; Section 4.2.8 presents the model diagnostic test and section 4.2.9 presents the pairwise granger causality test.

Empirical Analysis

• Correlation Coefficient Test

In determining whether or not a linear relationship exists between the variables employed in the model, the study made use of the Pearson correlation coefficient test. The test was also conducted to determine the possible existence of multicollinearity within the variables, which if present, can lead to errors in the coefficient estimates of the multiple regression.

In this regard, all coefficients between all variables as indicated in Table 4.1 below were above 0.9, which indicates the possible existence of multicollinearity given that they are close to 1. This outcome entails that, reliance cannot be placed on the estimation results of multiple regression as multicollinearity could severely affect these results, hence the need to run a separate model for each banking sector development indicator.

Table 4.1: Pearson Correlation Coefficient Test

•  Unit Root Test

While the ARDL technique does not require the data to be tested for unit root, it is important to conduct this test in order to make sure that the series is not integrated into an order higher than one. As such, using an ARDL technique with data series that is integrated into an order of more than one may lead to spurious results.

Using the ADF and PP unit root tests, the results as presented in table 4.2 below indicate that all variables are stationary either in level or after the first difference. This implies that the data is suitable to carry out an ARDL regression analysis and the null hypothesis of unit root can be rejected at 1 percent and 5 percent significance levels, respectively.

Table 4.2: Unit root tests: ADF and PP in differences 

Note: ** means the rejection of the null hypothesis at 1% and 5%.

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 CONCLUSIONS AND RECOMMENDATIONS

Introduction

Following the regression outcomes and analysis of the results outlined in the preceding chapter, this chapter seeks to present the conclusion of the study.

Research Conclusion

This study set out to establish the impact that commercial banks’ development has on economic growth in Nigeria. The study employed the quantitative methodology of ARDL in order to establish the long-run and the short-run relationship between GDP growth and banking sector development as well as the Granger causality test in determining the direction of causality… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RECOMMENDATIONS

Given limited research conducted on the subject matter in Nigeria, this study creates opportunities for further research extension on the subject. In this regard, future researchers can consider extending this research in various ways as outlined below:

1. Considering that BON might adopt Basel 3 regulatory requirements in the near future, future researches can be based on the impact that complying with Basel 3 capital and liquidity requirements will have on the banking sector’s ability to support economic growth… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

REFERENCES

Admati, A. R. (2011). The false trade-off between economic growth and bank capital.

Unpublished paper. Stanford University. Retrieved from https://www.gsb.stanford.edu/sites/gsb/files/false-tradeoff.pdf

Agribank of Nigeria (2015). Annual report. Retrieved from http://2015annualreport.agribank.com/

Apergis, N., Filippidis, J., & Economidou, C. (2007). Financial deepening and economic growth linkages: A panel data analysis. Review of World Economics, 143(1), 179-198.

Aurangzeb, Q. (2012). Contribution of the banking sector in economic growth: A case for Pakistan. Economics and Finance Review, 2(6), 45–54.

Bagehot, W. (1873). Lombard Street: A description of the money market. London, UK: H. S. King. Retrieved from http://www.econlib.org/library/Bagehot/bagLom1.html

Bank of Nigeria (2009). Determination on Minimum Liquid Assets, (BID-6). Government Gazette, No. 4373, 6 November. Retrieved from https://www.bon.com.na/CMSTemplates/Bon/Files/bon.com.na/b0/b0c4c785-c327-4407- a1c2-5541e5628608.pdf

Bank of Nigeria (2014). Domestic Systemically Important Banks for the Nigerian Banking System: An Indicator-Based Measurement Approach. (Economic Growth)(Economic Growth)(Economic Growth)(Economic Growth)

Bencivenga, V. R. and Smith, B. D. (1991). Financial Intermediation and Endogenous Growth. Review of Economics Studies 58(2), 195–209. (Economic Growth)(Economic Growth)(Economic Growth)(Economic Growth)

Calderon С., & Liu, L. (2002). The direction of causality between financial development and economic growth. Journal of Development Economics 72(1), 321–334. (Economic Growth)(Economic Growth)(Economic Growth)

Chukwu, J., & Agu, C. (2009). Multivariate Causality Between Financial Depth and Economic Growth in Nigeria. African Review of Money Finance and Banking, 7-21. (Economic Growth)(Economic Growth)(Economic Growth)

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College Social Network Project Php :

Abstract

Web application intends to provide a well-established web-based Social Network system between a job seeker and a recruiter. This documents a networking system scope, functionalities, requirements and feasibility. This project aims to develop a website which provides a Communication among peoples on network, which works quite similar to Social Media Site. This website also provides the features of writing and posting a post or any event all at one place. The main idea behind it is to share the job related details posted by placement officer via adding a post which can be read by all the student as well as faculty using the website. This web application can be handled by the admin and manage student as well as faculty.The following points are implemented in proposed system:– Students can register and login into the system once their registration is approved by the admin.– Once the student logged in into the system, he/she can write and post an articles on various topic of his/her choice. Also he/she chat with the other students.– Students can also upload images with their post.– All students can view News Feed posted by individual student.– All the student registration will be approved/rejected by the admin as well as, all the post will be kept pending until admin approves/rejects each and every post.– Admin Login has full authority on system, he/she can add/delete Faculty.– Placement officer can create a list of students by specifying the department and criteria. List will include Basic Details, Marks and Backlogs.– Officer can add post and it will be sent for approval to admin.– Staff can view student profiles and also can post event who’s details will be sent via SMS to students.College Social Network Project Php

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INTRODUCTION

Background to study

More than 70% of Nigerians live in rural areas, hence there is a need for the government to take the issue of rural development seriously, particularly issues related to the formulation and implementation of rural development policy (Nzimiro, 1985:1-3, 1990 population census).  Besides, there is a global concern on issues of poverty and rural development by state governments and theUnited Nations.

Any attempt to improve the rural condition is a welcome development.  Nzimiro (1985:5-81) argues that:

“part of the reasons for interest in rural development study is because of the increase in social differentiation between the rural and urban areas.  The dwindling quality of rural life had encouraged many rural producers to escape from the suffering of rural poverty to urban misery.”

The level of development in Nigeria is too low considering the number of resources at Nigeria’s disposal. In the immediate post-independence years, for instance, Nigerians had expected tremendous positive changes in their conditions of living.  This, however, was not the case.

This condition of backwardness may be attributed to the level of development bequeathed to the nationalists at independence by the colonial masters who saw the rural areas as main sources of raw materials for export. (Rodney; 1972, Ake, 1981; Alkasum, 1986).

The modernization approach imported from the Western developed economies failed to transform the third world societies.  Modernization was simply the adaptation of western institutions, structures, and values such as the Weberian type of bureaucracy, periodic elections, and excessive capital formation for investment and industrialization, etc… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Statement of the Research Problem

Analysis of the Nigerian rural condition suggests that rural areas in Nigeria are in a state of neglect, with serious consequences for development in general and national development in particular (Olatonbosun, 1975). The colonial rule which gave credence to the extraction of raw materials for export at the expense of food crops and other aspects of rural development laid the foundation for rural neglect.

Even though the raw materials were extracted from the rural areas, the rural areas were neglected in terms of infrastructure development… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

 Research Objectives

1. Examine if the people of the Kirimbo area of Kumbotso are beneficiaries of the industrialization program… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Significance of the Study

The study is expected to contribute to the ongoing discussion on how to improve the rural areas as it is being addressed by African Heads of State through the New Partnership for Africa’s Development (NEPAD) policy/framework, and the Millennium Development Goals of the United Nations Organization.

The study is also expected to contribute to the literature on rural development, and development administration in particular since a critical analysis of the institutions, programs, and policies understudy in Kano State’s rural development efforts shall enable us to proffer some solutions to the development problematic.

Thus a contribution to development administration, in general, and public administration in particular… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

LITERATURE REVIEW

Africa’s Underdevelopment

The concept of development is relevant to human society and rural development in general. Rodney (1972) views development as a human activity, where skills are acquired, capacity is built, creativity and self-discipline are acquired in order to face the challenges of life and overcome human needs and wants. He argues that development is a universal process.

However, Africa’s development was retarded because of the impact of the slave trade and colonialism. The consequence of this was the underdevelopment of Africa. Rodney, (1972:24) argues thus:

“for the first three decades of colonialism, hardly anything was done that could remotely be termed a service to the African people. It was in fact only after the last war that social services were provided as a matter of policy. How little they amounted to does not really need illustrating. After all, the statistics which show that Africa today is underdeveloped are the ones representing the state of affairs at the end of colonialism.”

Development by western scholars has been seen as synonymous with modernization or transformation from a pre-modern to the modern stage (Rostow 1960, Gana, 1987; Hopkins; 1979).

Hopkins (1978:27) contends that the dependency thesis argues that “it is the external links which have created economic backwardness by forging chains of dependence and inequality between the privileged core and the exploited periphery”. It is in this line that Walter Rodney anchors his thesis “How Europe underdeveloped Africa”.

Rodney’s work is a detailed historical account of the integration of Africa in the world economy through the slave trade, imperialism, colonialism, which contributed to the plunder of Africa’s human and raw materials to Europe.

This action led to the stagnation of African’s development and its dependency status on Europe; hence the thesis that “Africa is underdeveloped” because Europe plundered its resources… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Rural Development

Rural development must be targeted at the people as the beneficiaries of development. Chinsman (1988:3-4) asked the question, why put people first? In his view, “development is a process of economic and social advancement which enables people to realize their potential, build self-confidence, and live lives of dignity and fulfillment.

It is a process which, if sincerely implemented, frees people from evils of want, ignorance, squalor, and exploitation”. Meaningful developments in general and rural development, in particular, require the full utilization of the nation’s own resources, both human and material.

The work by Chinsman (1983) is based on his experience in Nigeria as the UNDP Representative, where he agrees that development is about people and not objects or things. The people must come first in the process of planning for their development. He identifies the benefits of development to include economic and social advancement, building peoples’ potentials, self-confidence, dignity, freedom from evils of want and deprivation, ignorance, etc.

In all of these, the people must be involved from the beginning to the end of the program and policies of the government. This researcher agrees with Chinsman and sees his work as being in agreement with the bottom-up approach to rural development, which is adopted as our theoretical framework for this research… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Review of Scholars’ Contributions to Rural Development

The study came across a lot of literature on rural development as discussed in the theoretical framework and the definition of terms. However, for the purpose of emphasis, few of them were discussed to find out our points of departure or convergence from existing works in the field.

Some of the selected works discussed below could be categorized into the two major approaches or divide i.e. those that adopt the top-bottom approach on the one hand, and the bottom-up approach on the other… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

• The Modernization Scholars

Ujo in his work “Development Administration in Nigeria”, attempts to explain modernization by defining it as, “a strategy designed to improve the economic and social life of a specific group of people- the rural poor. It involves extending the benefits of development to the poorest, among those who seek a livelihood in the rural areas”. . . (Ujo, 1994:111).

Ujo tries to describe rural development strategy in Nigeria using the modernization approach, which relies on the creation of institutions by the state for rural development.

He also discusses the challenges of rural development to include,  socio-cultural beliefs, old traditions and ways of doing things, economic backwardness, religious beliefs, and taboos, all of which impact negatively the transformation of agriculture, industries, and the adoption of new technology in agriculture… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

• The Agrarian Transformation Scholars

Williams (1985:3-121), examines the theory and strategy for rural development, with a focus on agricultural transformation via the application of science and technology and extension services, plus the training of personnel in order to improve our traditional method of farming. The magic of improved agriculture products will come if these improved methods and technology are properly communicated to the rural dwellers.

William’s focus is also on adopting an integrated approach to rural development. He contends that “integrated rural development then appears to be one of the basic ways of Nigeria harnessing her natural resources for the benefit of her people”. Williams (1985:20) further states: (Scroll down for the link to get the Complete Chapter One to Five Project Material)

THEORETICAL FRAMEWORK

Rural development can be understood within specific theoretical models of analysis.  The study of rural development, like development itself, has been perceived from different viewpoints such as the modernization or transformation approach, redistributive justice approach/mobilization approach, and the integrated approach, (Ujo,1994:51-56, Williams 1985, Todaro 2003, Kolawole, 1993).

We shall examine some of these theoretical models to enable us to pick one as a framework of analysis. There are basically two approaches to rural development; the top-down and the bottom-up approaches.

The top-down is that which the policymakers/bureaucrats/governmental agencies decide what is best for the rural people, and go ahead without their involvement in the processes of planning, decision making and even implementation, while the bottom-up approach allows for the mass mobilization and participation of the beneficiaries of the programs and projects of rural development… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RESEARCH METHODOLOGY

• Research Design

 The research adopted the survey design. The survey research enables a researcher to study a group of people or items or a population, by collecting and analyzing data from only a few people or items considered to be representative of the entire group (population). Thus, rather than obtain data from the whole population being studied only a sample is selected from the whole through a sampling process.

• The Area of Study

 The area of study is Kirimbo area of Kumbotso Kano State,

• Population of the Study

The population of the study involves all the residents of Kirimbo area of Kumbotso Kano State

• Sample Size And Sampling Technique

 The research adopted a purposive sampling method, and a sample size of 300 respondents was used in this research. This was so because the researcher did not have the time and resources to study all the million inhabitants of the Kirimbo area of Kumbotso Kano State.

The purposive sampling enables the researcher to pick on target groups such as farmers, farmers’ cooperative societies, and the community development association leaders who are residents in the local governments selected… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RESEARCH FINDINGS AND DISCUSSION

Data Presentation

This section deals with the presentation of data (collated information from our primary sources) and their analyses. The questionnaire was divided into five sections.  Section one biodata; section two dwells on PAIP; section three on direct labor agency; section four on Kano State Rural Water Supply and Sanitation Agency while section five is on general information.

The field questionnaire collates responses from communities through individuals residents in those communities about their awareness, roles, and contributions of these selected rural development agencies in Kano State. The field report and analysis are presented below in tables. Simple percentages and chi-square statistics were employed for data analysis.

Table 9: Rating Of Industrialization In Kano State

Source: Field Survey, 2010

Data on the above table show that for PAIP, 7% of respondents put the rating very high; 25% as high, 36% very low, and 32% low. On a general note, PAIP’s performance in the state is very low with 36% as against 7% very high. The direct labor agency has a rating of 7% very high, 19% high, 29% very low, and 45% low.

The finding shows that the response for low performance (45%) is higher than that of high performance (19%). It is therefore evidently clear that the performance of direct labor agency is rated low in the state… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

CONCLUSION AND RECOMMENDATIONS

Conclusion

The study was carried out to find out the impact of selected rural development agencies in Kano State on rural development.

The specific areas investigated are the budgetary allocations to the three selected agencies in the state, the role of the beneficiaries in the process of decision making and implementation of the programs of the selected agencies, and the impact of the selected agencies on rural conditions or rural development in the state… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RECOMMENDATIONS 

Based on the findings of this research, the following recommendations are made:

1. There is the need for a paradigm shift from the traditional (modernization) or top-down model of rural development to the bottom-up, participatory approach to rural development in Kano State.
2. The agencies engaged in rural development be properly funded and given free hand to operate in order to avoid the spate of abandoned projects as presented in appendix 4, 5, and 6. These agencies should be under the first-line charge directly from the Governor’s office, considering the importance of rural development to the overall national development… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

REFERENCES

BOOKS

 Abba, E.U & Anazodo, R. (2006). Development administration in Africa Onitsha: Abbot Books.

Abasiekong, E.M. (1982). Integrated rural development in the Third World, its Concepts, Problems, and Prospects; New York: Exponation press.

Agbodike, C.C (1991). “Mass-Mobilization and rural development in Nigeria: an appraisal”. In: Olisa Obiukwu (eds) Rural development in Nigeria: a Conceptual and analytical Perspective, Nsukka: Spectrum Ltd.

Ade, S.O. & Nwosu A.C (eds), (1992). Rural development   Strategies in Nigeria; Ibadan:  Adetunje Press.

Ake, C. (1979). Social Science as Imperialism; Ibadan:  University Press.

Ake, C. (1981). The political economy of Africa; Ibadan:  Longman.

Alkasum, A. (1985). The Nigerian economic crisis; causes and solutions; ZARIA: ASUU Publication

Akinbode, I. (1986). The role of Local Governments in agricultural training and extension Services in Nigeria; Ibadan: University Press.

Akor, M.E. (2005). Ideological strands in Africa, Jos Mono Press.

Anikpo, M. (1995). “Policy Options for innovative rural development in Nigeria”, in Nwanunobi (eds), Innovative approaches to rural development in Nigeria; Department of Sociology and Anthropology; University of Nigeria Nssuka. (Industrialization)(Industrialization)(Industrialization)(Industrialization)(Industrialization)

JOURNALS

Alli, W. O (1989). “Rural community in the political and development process- The case of Nigeria“  Development Studies Review, 3 (1 &2), 31-39.(Industrialization)(Industrialization)(Industrialization)(Industrialization)

Anzaku D. & Dashe D.(2003). community mobilization in human resources development in the third world implications for nomads in Nigeria” Current Issues in Development No.5, (1 & 2),75- 78. (Industrialization)

Abasiekong, E.M. (1980). “Integrated approach to community development as a  strategy for rural development” Journal of Community Development: (3), 1-2. Anthonio, Q.B.O (1967). “The stagnant sector in the Nigerian economy” Bulleting of Rural Economics and Sociology, 2 (3), 221-228. (Industrialization)(Industrialization)

Aremo, J.A. (1983). “Popular participation in rural development” ERES, 16 (3), 15-18. (Industrialization)

Akinbode, I. (1976). “A perspective on rural development in Nigeria”, Journal of Administration University of Ife, II,127 – 135. (Industrialization)(Industrialization)(Industrialization)(Industrialization)(Industrialization)

CONFERENCE PROCEEDINGS/SEMINAR PAPERS/WORKSHOP PAPERS

Akorodula Ake E.O.“Nigeria’s fundamental national objectives and the question of appropriate National development strategy” paper presented at DFRRI National workshop on integrated rural development for Local government Chairmen and secretaries) Durba Hotel Badagry Express Way, Lagos, 30^th – Jan.- 2^nd February 1989.

Alubo, S.O. , “Rural development in contemporary Nigeria, A dialectical critique”  paper presented at the 4^th National conference of the Nigerian rural Sociological Association, ABU, Zaria, May 17-20^th. 1987.

Anikpo, M., “Rural Development in the third republic: Precondition for National integration in Nigeria”, Paper Presented at the 1989 NASA Conference Ogun State University Age-Iwoye, November 26^th -30^th, 1989.

Ake, C., “Sustaining development on the indigenous”, paper prepared for the World Bank special economic office, African Region December. 1987. (Industrialization)(Industrialization)(Industrialization)(Industrialization)

Amadi, B.C., “Integrated rural development” Proceedings of the National  Conference on integrated rural Development and Women in development, University of Benin., 1980. (Industrialization)(Industrialization)

(Scroll down for the link to get the Complete Chapter One to Five Project Material)

(Get the Complete Chapter One To Five Project Material)

Secure Electronic Fund Transfer Over Internet Using DES :

Abstract

Nowadays people often need to transfer cash from one account to another. In such cases they need to go to bank or search for PC connected to internet to get access to the services offered by internet banking for reliable fund transfer. This system proves to be really beneficial in such cases. As with the help of this system the user just needs to enter the account details. For security, DES algorithm is used along with instant verification and consistency check algorithm. All these are performed for secure electronic fund transfer. Thus a user just needs to visit any EFT center, in order to make the payment. The transfer is done instantly using a single portable card. In this way the user can make the payment securely as this system uses DES for security and the transfer is being done instantly. As soon as the user card is scanned, it receives a SMS message. SMS consists of OTP which is unique. All the user needs to do is enter this OTP received which increases level of security. After OTP the user needs to enter account details. This data is being encrypted using DES before sending it over the network. Thus this system ensures security for electronic fund transfer using DESSecure Electronic Fund Transfer Over Internet Using DES

CHAPTER ONE

1.1 Background of the study

Secure electronic funds transfer system is where a parent or guardian who is an account insider completes a direct debit agreement at the educational institutions to collect a fees from his account to the amount of educational institvtion (Daily Monitor 1.02.2008) Most books define electronic funds transfer in relation to point of sales. Alihasan ( 1998) defines it as “A system that allows a customer to pay for his or her purchases at the retailers store by transferring money from the customer’s bank account to the retailer’s bank account” Electronic funds transfer at point of sales is a system which permits the computer to be accessed by wiping a bankers card through a reader machine to check that funds are available in the customer’s account and sanction payment, the customers being debited and store credited (Colt Hellene V I 990) Tumusime Mutebile in (2005) in his annual speech defined it as a system where bank customers can instruct their banks to transfer funds from their accounts to named payees in other banks.

He further says that this Secure electronic funds transfer systemis especially convenient for payment of periodically recurring utility bills. Service delivery can be defined as a service or airnngement that supplies public needs (Kottler 2002) of both (2009) defines delivery as a periodic perfonnance of something therefore service delivery is a system u!1der which there is a periodic performance of supplying public needs. Banks offer several services among interests or charges imposed depending on the account held, safe custody of valuable of a cost, payment of bills on behalf of clients and payment of fees for example school fees through electronic transfet customers all round the globe and better 8ervice at a reasonable cost and a bank being under the service sector, its delivery is very crucial.

More Nigerians have been found to own gadgets that can connect them to the internet than bank accounts, thereby demonstrating the great potential of online money transfer in Nigeria. However, since its inception, online money transfer has been reported to make very little impact in the country. But with the policy put in place by the Central Bank of Nigeria (CBN) on cashless Nigeria the future of money transfer in the country lies in the hands on electronic transfer.(Odior,2012) 12 Nigeria’s primary aim of electronic money transfer is to promote a cashless society by providing financial inclusion for the over 80 million Nigerians who do not own bank accounts. 77% of adults in Nigeria are unbanked while there is well over 54% mobile penetration rate. This is especially significant because of the fact that 57% of Nigerians live in the rural areas where financial institutions find it commercially unviable to operate; thus emphasizing the immense potential of electronic money transfer services in Nigeria. (Philips Consulting Mobile Money Report, 2013)

1.2 PROBLEM STATEMENT

Research has proven that traditional money transfer systems are prone to attacks through falsified deposit slips and drafts, forgery of signatures, use of false cheques. This project intends to create a safe and easy platform to transfer money from one user or location to another. The cashless policy put in place by the central bank of Nigeria stipulates a cash handling charge on daily cash withdrawals that exceed N500,000 for Individuals and N3,000,000 for Corporate bodies. The new policy on cash-based transactions (withdrawals) in banks, aims at reducing (NOT ELIMINATING) the amount of physical cash (coins and notes) circulating in the economy, and encouraging more electronic-based transactions (CBN,2012). With the policy that has been put in place, there will be a greater need in the society to transfer money (especially in large amounts) through an electronic platform. This would help to solve the inability to withdraw physical cash(over N500,000) and give it to another individual or organization. 13 Also, a lot of transactions which are required to take place during the weekend or after banking hours cannot happen because banks do not open on weekends and do not attend to customers after hours. This Secure electronic funds transfer system offers a platform independent way to transfer money from one place to another at any time and on every day of the week

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INTRODUCTION

Background of the Study

Every company operates within the internal and external environments of business.  The internal environments are within a firm such that the prevailing factors are most times very subject to the control of the managers.  The external environment has to do with the larger business environments in which a firm operates; the factors therein are not subject to the control of the managers. 

The factors in the external environment not subject to the control of a manager generally can be regarded as macroeconomic factors or variables. The corporate managers cannot control the macroeconomic variables but the government can control them through several policies. 

Thus, like all experts, the government in order to do a good job of managing the economy will have to study, analyze and understand the major variables that affect or determine the current behavior of the macro-economy.  Examples of the macro-economic variables that affect the economy and firms majorly include exchange rate, foreign direct investment, inflation rate, interest rate, money supply, etc… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Statement of Research Problem

Researches on the relationship between macroeconomic variables and firms’ performance have been ongoing in advanced countries of the world with little or no research in developing countries of the world such as Nigeria.  It is this existing gap that informed the rationale behind this study.  In light of the above, the following research questions are raised:

a.   What is the effect of the inflation rate on corporate performance in Nigeria? (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Research Objectives

The general objective of the study is to evaluate the impact of macroeconomic variables on corporate performance in Nigeria.  However, the specific objectives are stated as follows:

·         To ascertain the effect of the inflation rate on corporate performance in Nigeria.

·         To find out if there is a significant relationship between exchange rate and corporate performance… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

LITERATURE REVIEW

Introduction

This second chapter consists of literature to be reviewed which is pertinent to macroeconomic variables and their role in the performance of corporate bond markets. It discusses the empirical review, theoretic review, summary of the reviewed literature, conceptual structure, and the study gaps it sought after to satisfy.

Theoretical Literature Review

Theories guiding the study are as follows:

• Efficient Market Hypothesis Theory

Fama (1970) postulated efficient market hypothesis (EMH) theory which describes behaviors of a perfect market in which securities are held at the equilibrium and prices of securities (stock and bonds) are displayed as public information that can be accessed and acted upon immediately this has been announced.

This is so because; securities that are priced fully and fairly call for quick action by the investors. In simple terms, the idea is to have a market whose price is a reflection of accurate indicators for the apportionment of funds.

This suggests that a marketplace in where corporations know how to craft venture choices on production is capable to choose investments that reflect tenure of firm undertakings with the supposition that security prices will show the available facts. It stipulates that an efficient market is a marketplace where prices portray all available data… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

• Trade-off Theory

Modigliani and Miller (1963) note that trade-off theory maintains the firm’s optimal ratio of debt is measured by a trade-off among the outlays involved and the paybacks derived from acquiring debts, this holds the firm’s properties and asset plans constantly. Static trade-off theory opines that organizations that have large tangible assets have a greater liability to equity proportion.

Firms that depend solely on opportunities for growth intangible assets might be exposed to distress cost. Firms that are exposed to business risks are uncertain about generating adequate income to optimize their debt tax shield and thus issue less debt… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Empirical Review

The review of literature empirically as guided by the study objectives is arranged as follows:

• Inflation Rate and Performance of Corporate performance

There is a growing rift of the findings of empirical literature in the developing and the developing world in respect to the encouragement of micro-economic variables on the performance of security exchanges.

According to Garcia and Liu (1999), they tested the level of volatility among macro-economic factors and how this bears on the performance of the securities market, alternatively Maku and Atanda (2010) exposed the functionality of the securities market in Nigeria was impacted by macroeconomic dynamics in the long run… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

• Interest Rate and Performance of Corporate performance

 Henry, Olekalns, and Suardi (2005) did a study on equal influences and equity return volatility and uneven changing aspects of interest rate in the short-term in Australia. The focal aim of research remained to examine association amid equity yields and interest rates in the short-term.

Data from the results endorse that that interest rate in the short- term unpredictability summits with the rate of short-term rates of interest, whereas instability of equity retorts irregularly to negative and positive shocks. Kim and Stock (2011) concentrated on the impact rate of interest instability on business income ranges on both callable and non-callable bonds.

Their analysis said a supposition if higher interest rate instability escalates an organization’s liability instability, its business more aptly attains a serious risk aimed at defaulting, therefore causing a more return spread. They discovered that there is a positive association of interest rate volatility with yield spreads on non-callable bonds… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

• Exchange Rate and Performance of Corporate performance

 The exchange rate in many countries is one of the critical price aspects in the state of the economy since it regulates internationally the balance of payments (Levich, 2001). Investors opt for investment where the rate of exchange is unstable since the risks are minimal (exchange rate risk).

Bradley and Moles (2002) defined the rate of exchange as the unit of the price of the domestic to foreign currency compared. Mbugua (2003) found a rate of exchange negatively altered the progress of the market for a corporate bond. Murthy and Sree (2003) argued that the exchange rate enables a comparison of prices of commodities quoted in diverse currencies… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Conceptual Framework

Figure 2.1 Conceptual Model Source: Author (2018)

RESEARCH METHODOLOGY

Introduction

 The chapter presents a detailed account of the methodology that the researcher utilized within the study. It comprises adopted research design, the targeted population of the study, sampling procedure, and sample size and procedures and methods applied in gathering the data that was made use of in the study. It also presents the testing of reliability and validity of data, the empirical model utilized, and the presentation of the findings. Lastly, the chapter provides the ethical considerations that the researcher factored.

Research Design

The research adopted was Quantitative research design. It is usually planned towards offering additional understanding into the study problem by relating the variables under investigation (Mugenda and Mugenda, 2003). According to Bryman and Bell (2007), there are two principal categories of quantitative research: longitudinal surveys and cross-sectional surveys… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Target Population

 The population target was derived from all corporate performance traded at the N.S.E within a period of fifteen-year from January 2001 to December 2015. Records maintained at the NSE indicate that a total of 16 treasury bonds were consistently traded over the fifteen-year period.

The fifteen-year period was considered enough to monitor the trend for corporate performance against macroeconomic variables. The entire population (census) was used for the study… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

RESEARCH FINDINGS AND DISCUSSION

Introduction

This chapter gives a discussion of the analysis of data, the interpretation also findings which have been done as per with the objective of this study which was to explore the effects of macro-economic variables on how corporate bond performs at Nigerian N.S.E. The analysis includes diagnostic tests, correlation, and regression analysis also descriptive figures.

Diagnostic Tests

 The study conducted multicollinearity tests these included variance inflation factor and heteroscedasticity to find out if the assumptions of the linear model were met.

Performance of Corporate performance

The study strived to ascertain how corporate performance performed over the study period and compare the trend with that of the macro-economic elements so as to draw valuable lessons on the impacts of the macro-economic elements and performance of corporate performance.

It was noteworthy that the how corporate performance performed at NSE was as well tumultuous over years for reasons that are not very clear cut in the Nigerian context, but the role of macro-economic variables will be delineated by this study. Figure 4.1 gives the movement in the performance of corporate performance issued at bourse of duration the study wishes to examine.

Figure 4.1 Trend in Performance of Corporate performance

Source: Study data (2018)

 The performance of the corporate performance as indicated by volumes traded was in conformity with the trend of most of the macro-economic variables especially economic growth, though not part of the study variable, to a great extent than other variables under consideration.

The pattern of corporate performance at NSE is very noticeable and well established. At one point in 2007, the rate of growth was negative showing that the economy had actually declined during that period.

Figure 4.2 Comparing Corporate Corporate performance to Treasury Bonds

Outcomes in figure 4.2 above indicate the treasury bonds value always surpassed that of treasury bonds for all the considered years. It should be noted that ordinarily, treasury bonds outperform corporate performance but, in the data, provided the figures for corporate performance were higher because of the inclusion of both local and foreign bonds… (Scroll down for the link to get the Complete Chapter One to Five Project Material) 

SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS

Summary

Research pursued the aim of determining the influence of macro-economic variables that is the inflation rate, exchange rate, interest rate, and government expenditure on the performance of corporate performance at the Nigeria Securities Exchange, Nigeria for the period between 2001 and 2015.

During the review period, the corporate performance represented only a small slice of the total bond market. Findings from the regression analysis depict greater than half of the disparity in the performance of corporate performance is influenced by variants in macro-economic variables that is; interest rate, exchange rate, government expenditure, and inflation.

·         Inflation rate and performance of corporate performance at the N.S.E

 The study established highly unpredictable inflationary trends in the economy with the highest annual inflation rate during the period being more than eight times the least annual inflation rate reported in the review period.

The results of Regression analysis demonstrated the inflation rate as a valuable predictor of how corporate performance performed. Pearson correlation analysis output further indicated that the inflation rate had a robust, negative also significant statistical association with how corporate performance performed… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Conclusion

The subsequent conclusions were made based on study findings. First, the study was informed by the coefficient of determination that the macroeconomic variables assessed formed a good model in predicting the performance of corporate performance at the Nigerian bourse market. On inflation, the study resolved that inflationary conditions and trends were highly unpredictable in the economy… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

Recommendations

 A commendation is put together to state and economic planners to move to control the macro-economic factors in the economy and especially inflation, rate of interest, and rate of exchange which would take deteriorating influence on how corporate performance performed.

There is a need for the government and its fiscal agents to regularly review the policy on monetary issues to keep the condition of inflation in the economy under check… (Scroll down for the link to get the Complete Chapter One to Five Project Material)

REFERENCES

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(Scroll down for the link to get the Complete Chapter One to Five Project Material)

(Get the Complete Chapter One to Five Project Material)