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BANKING FINANCE

THE PROBLEMS AND SERVES OF NEW GENERATION BANKS IN NIGERIA

THE AND SERVES OF NEW GENERATION IN NIGERIA

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THE PROBLEMS AND SERVES OF NEW GENERATION BANKS IN NIGERIA

ABSTRACT OF THE PROBLEMS AND SERVINGS OF NEW GENERATION BANKS IN NIGERIA

The desire to conduct this research on new banks stems from the fact that the central of Nigeria's policy on the construction of these new in this country has been posing a lot of challenges, resulting in unsatisfactory performance and concerns with the new banks' impending failure.

This article attempts to investigate the problem of these new banks, the impact of these problems on the banking industry, and possible solutions to such problems.

This is not a full examination of the topic of new banks in Nigeria since obtaining a clear, thorough, and exhaustive overview of these problems would necessitate a significant expenditure beyond the scope of this research.

As a result, the causes of bank failure were investigated in the following areas. How to unprove the safety of banks organisational problem of new banks project of new and policy advice made, aware that many minor difficulties pertaining to the subject were not addressed due to time and money constraints.

CHAPTER ONE
The government founded banks for development purposes, and the banking industry's significance in economic growth cannot be overstated. Some banks are owned by the government,

such as First Bank of Nigeria and Union Bank, while others are owned by a combination of the government and people. Banks, on the other hand, are founded in Nigeria and other parts of the world to perform the following services.

1. To protect money and possessions.

2, The mobilisation of savings and other deposits.

3. Customer credit privileges are extended.

4, Managing customer investments and advising on property insurance.

5. Making money.

6 offer facilities for international trade financing, such as commentary credit.

7, facilitating transaction in foreign exchange.

8, providing consulting services

However, the following functions and duties of banks are only a few examples because the banking business is dynamic in nature. It is dependent on public trust, and because of its impact on the nation's economic life,

it requires high-quality management and an organisational structure that allows it to achieve optimum operating efficiency and profitability.

Since the of the structural adjustment plan (SAP) and its deregulating policies, the banking system in Nigeria has experienced a number of policy shocks,

with the new bank feeling the brunt of them. The Nigerian Central Bank has guidelines on reserve requirements and capital requirements for new banks.

Other directives include the withdrawal of government banks, the payment of interest on current accounts, and the cancellation of naria loans denominated in foreign currencies. Foreign currency market liberalisation.

Aside from the contentious National Deposit Insurance Corporation regulation, new banks have additional challenges, such as competitiveness.

The cause of this new banking competition is a rise in the number of banks and the simultaneous invasion by other financial institutions of what was previously seen as the traditional banker preserve.Another issue is the installation of a numerous of branches in areas where banking has not been instilled.

Here are some examples of newly established banks:

Magnum.

Citizen

Intercontinental caution.

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