ADMINISTRATIVE CONSTRAINTS MILITATING AGAINST EFFECTIVE IMPLEMENTATION OF UNIVERSAL BASIC EDUCATION PROGRAMME IN JUNIOR SECONDARY SCHOOLS IN DELTASTATE

Author: EZE, EUGENE IKECHUKWU

Abstract

In Nigeria, the banking institution constitutes the life blood of the economy because of its strategic position. The performance of this institution is central to the health of the economy. Consequently, the failure of the institution is a manifestation of the failure of the economy. Lack of proper corporate governance and manifest fraud and fraudulent activities, in banks, coupled with directors’ negligence to observe due diligence and acceptable standard practices, resulted to total collapse and failure of many banks. These necessitated the interest of the writer in dealing with the study. The study examines the impact of fraud on corporate governance in Nigeria banks. It aims at determining the extent to which poor corporate governance has affected the Nigeria banking sector and the role of the Central Bank of Nigeria (CBN) in the regulation and supervision of banks in Nigeria. In order to achieve the objective of this study, the doctrinal method was adopted. Consequently, the study relies mainly on both primary and secondary materials. The primary sources collected include statutes like the Central Bank of Nigeria Act (CBN Act), Bank and Other Financial Institution Act (BOFIA), Nigerian Deposit Insurance Corporation Act (NDIC Act), Companies and Allied Matters Act (CAMA) and case law etc. The secondary sources include text books by learned authors, journals, Magazines, Newspapers, Internet Materials, Periodic Articles, Published and Unpublished Works. The dissertation discusses fraud and the unethical conduct of bank directors which has impacted negatively on corporate governance in Nigeria and resulted in bank failures and distress. This study finds out that the governance of banks ordinarily rests on the board of directors, the board, in so many instances have not lived up to its expectation in discharging this responsibilities. Even where the responsibilities of the board are clearly spelt out, most banks do not comply with all legal requirements and regulatory standards. This dissertation therefore recommends that the Code of Corporate Governance for Banks in Nigeria Post Consolidation, issued by the CBN in 2006 be complied with strictly and that men of proven integrity, transparency and honesty with proper and adequate qualifications be appointed as directors of banks. The benefit of the dissertation is that the dissertation will be of value in improving the performance of banks in Nigeria. In addition for good and credible corporate governance, the Board of Directors or the Management should not be involved in unsecured loans at the expense of depositors, but should build credibility, ensure transparency and accountability as well as maintain effective channels of information disclosure that will foster good corporate governance.

Supervisor: Professor David F. Tom