EFFECT OF AUTOMOBILE TECHNOLOGY ON ENTREPRENEURSHIP FOR SUSTAINABLE DEVELOPMENT IN LAGOS STATE.

EFFECT OF AUTOMOBILE TECHNOLOGY ON ENTREPRENEURSHIP FOR SUSTAINABLE   DEVELOPMENT IN LAGOS STATE.

Background of the study

Over the years there have been many definitions of  entrepreneurship and they have all been acceptable definitions but i define it as the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses.

In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential  part of a nation's ability to succeed in an ever changing and increasingly competitive global marketplace.

One can simply say that entrepreneurship as the pursuit of a self-owned business or company. Entrepreneurs are people who are willing to take risks to make a profit, whether by inventing a new product or opening their own company, it is also the behavior of starting business or taking on financial risk with the hope of making a profit. Entrepreneurship is almost a way of life. If you have it in you, then it permeates everything that you do.

Entrepreneurship is the act of starting a company, arranging business deals and taking risks in order to make a profit through the skills acquired (Omolayo 2006). Entrepreneurship education can also be described as the term given to who has innovative ideas and also posses the ability to transforms it to profitable activities. Entrepreneurship in other words is the process of bringing together creative, innovative ideas and coupling these with management and organizational skills in order to combine people, money and resources to meet an identified need and create wealth. In the same vein, Nwangwu (2007) opined that entrepreneurship is a process of bringing together the factors of production, which include land, labour and capital so as to provide a product or service for public consumption. However, the operational definition of entrepreneurship is the willingness and ability of a person or persons to acquire educational skills to explore and exploit investment opportunities, establish and manage a successful business enterprise.

Entrepreneur can be defined as an innovating individual who has developed an ongoing business activity where none existed before. Meredith (1983) defined an entrepreneur as a person or persons who possesses the ability to recognize and evaluate business opportunities, assemble the necessary resources to take advantage of them and take appropriate action to ensure success. Entrepreneurs are people who constantly discover new markets and try to figure out how to supply those markets efficiently and make a profit.

An Entrepreneur is a person that searches for change, responds to change, and exploits change by converting change into business opportunity.

Political instability and inconsistencies in the social-economic policies of successive government led to the emergence of high level unemployment in Nigeria. In the mid 80s, the Nigeria economic collapsed while youth and graduate unemployment hit the roof. There was large-scale layoff of workers and early retirements as a result of structural adjustment policies and bad economic trends in the country. In the face of this situation entrepreneurship, which would have salvaged the situation, was not encouraged. It has been observed that tertiary education has not been properly included with philosophy of self-reliance such as creating a new cultural and productive environment, that will promote pride in self-discipline, encouraging people to take part actively and freely in discussions and decisions affecting their general welfare, promoting new sets of attitudes and culture for the attainment of future challenges.

According to Nwangwu (2007), the failure of tertiary education to inculcate the above philosophy in students has led to wastages in terms of both human and natural resources. This is because the youth and graduate from tertiary institutions are not equipped with the skills with which to exploit the natural resources that abound in Nigeria. All these factors have rendered the pursuit of self-reliance among our graduates difficult to retain. Whether technology alone will be sufficient to achieve an entrepreneurship sustainable future is unclear. This will depend on public and private support for entrepreneurship beneficial technologies and the extent to which further growth in world population and economic output will compromise per capita emissions reductions and a more efficient use of natural resources.

Sustainable development is a pattern of economic growth in which resource use aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for generations to come (Paul, 2005). Sustainable development ties together concern for the carrying capacity of natural systems with the social challenges faced by humanity. Sustainable development requires balancing environmental, societal and economic considerations in the pursuit of development and an improved quality of life. Sustainability includes intergenerational equity, gender equity, just and peaceful societies, social tolerance, environmental preservation and restoration, poverty alleviation and natural resource conservation (Paul, 2005). The major essential tool for achieving sustainable development includes the following:

Improve the quality of basic education; Reorient existing education programmed to address sustainable development; Develop public awareness and understanding; and Provide training for all sectors of private and civil society.

Education for Sustainable Development is the focus or projection of education that seeks to equip people towards creating a sustainable future. Stakeholders such as government, businesses, educational institutions, media, and organizations play important roles in achieving sustainable development. Each of these sectors has a different vision of sustainable development. Some are interested in environmental preservation and protection; some have economic development interests while other may be more interested in social development. According to UNESCO (2003) the way each nation, cultural group and individual views sustainable development will depend on its own values.

In many European nations, Universities and technical colleges trained students of science, economics and business management in skills that helps to build more sustainable societies. Programs such as Peace Education, Human Right Education, Environmental Education and Youth Entrepreneur schemes are carried out in many schools (UNESCO, (2003). Hence, such initiatives help students and teachers to gain an understanding of the inter-linkages needed for sustainable development (Paul, 2005). The emphasis has been on education that will provide life and occupational skills that will enhance the potentials of individual, reinforcing self-sufficiency and improving quality of life.

Entrepreneurial competency is defined as the capability of entrepreneurs to face effectively a critical situation by making sense of environmental constraints and by activating relational and internal specific resources’ (Iandoli, (2007). Entrepreneurial competencies are defined as individual’s traits, such as specific knowledge, motives, features, self images, social roles and abilities which result in venture’s success. Some entrepreneurial competencies can be learned through formal education, other competencies are tacit and depend on individual’s characteristics and are built during the person’s life, experience, and career (Brownell, (2006).

Entrepreneurial competencies associated with the firm’s performance and competitiveness business growth and success (Mitchelmore and Rowley, (2010). Acquiring entrepreneurial competencies is of key importance for entrepreneurs willing to achievement oriented entrepreneurs. Issues relating to the competencies development process relating to entrepreneurs have generally been neglected. Competencies play an important role in successful entrepreneurship. Surprisingly, the research on the entrepreneurial competencies is rather limited (Mitchelmore and Rowley, (2010).

This study examines the effect of automobile technology students’ competency on entrepreneurship for sustainable development in Lagos State. Also, change in basic technologies of production, transport and consumption rather than modifications of existing products and processes or the adoption of end-of-pipe technologies are also considered.

However, such changes alone will be largely insufficient for achieving the ultimate goal of sustainable development. To achieve that, more fundamental changes in technology are needed.

1.2              Statement of the problem

There are basically two ways a graduate can end up , either into the soft skill level which is gaining employment in a corporate world(white-collar job) or entrepreneurial skills(business owner) to start one’s own business. In Nigeria’s economic environment which has unemployment as one of its major problems, it is of benefit that when a student acquires proper knowledge in entrepreneurship skills such student would be able to discover what they can lay their hands on if corporate employment does not come. The importance of entrepreneurship to any economy is like that of entrepreneurship in any community. Entrepreneurial activity and the resultant financial gain are always of benefit to a country. If a student has entrepreneurship skills then they will recognize a genuine opportunity when you come across one and that makes unemployment reduction possible.

The present education system encourages cramming and memory and not on creativity and practical application of knowledge and this is unhealthy and unstable for a virile technological advancement and   entrepreneurship development .Also fear of failure by the people to take risk on entrepreneurial activities, while an unstable and conducive political environment drives away people that are planning to embark on entrepreneurial activities hence it does not make knowledge delivery on entrepreneurial skills available to students.

In addition, government programs are not designed to promote technological and entrepreneurship sustainability in Nigeria, the level of infrastructural development provided by the government is still very low and this has been affecting to a very high extent the level of productivity and entrepreneurial activities in the country.Judging by the figures that are coming out of the Education Ministry in Nigeria, In the last few years, at least 60% of graduates are not able to get employment immediately. Because of that, they go into one entrepreneurial venture or another, but unfortunately they have not been adequately prepared to face the challenges of venturing.

Introduction of entrepreneurship skills in our curriculum and making it compulsory in education system in order to prepare students for proper skills needed in venturing into any business they can after graduating as this will help reduce unemployment. However, the education institution need to encourage entrepreneurship skills right from the curriculum itself and government should also take initiative in encouraging the students by providing conducive climate for the same.

Teachers and faculties should motivate students in being interested in this aspect of the curriculum and it should be emphasized as a very important knowledge that may be useful after completion of studies.

More so, Entrepreneurial development through education will advance the economy of the nation hence much credence should be given to it and ingrained with focus on profitable personal development. Infrastructure provision and non-profitable organization invitation into sponsoring various entrepreneurial programs and funding in institutions is a very important aspect in the growth and development of entrepreneurship development and employment level of a nation.

1.3              Purpose of the study

The purpose of the study will be to:

Examine automobile technology student competency on entrepreneurship. Find out the effect of entrepreneurship on sustainable development in Lagos state. Explores some of the policy issues in achieving a shift towards a more sustainable development in Lagos State.

1.4              Significance of the Study

The result of this studies will be useful to the youth both graduates and undergraduates. This is because it will help them to be aware, prepare and improve on personal development of their entrepreneurial skills hence gives chance to those who are not lucky or do not become gainfully employed in the so called ‘White-Collar’ jobs to start their own business with the little possible finance they lay their hands on.

Secondly, The result of the study will be useful to the government as it will lay emphasis on the various ways in which entrepreneurship skill development in students can reduce unemployment and also point out the various ways this can be done and policies that will be put in place to make sure that entrepreneurial activities can be directed toward productive ends conducive to economic progress.

Thirdly, the society is a large faction to gain from this study by making known the importance of delivering the knowledge of entrepreneurship skills can go a long way to meet local needs from hairdresser, financial consultant, emergency plumber and other local but important business owners. This study also talks about the fear people have in risk of starting a business and how that can be overcome and how the society is a large factor in the fear that is created in the mind of someone that wants to start a business.

1.5              Research Questions

This study will provide answers to the following questions:

What are the automobile technology student competencies on entrepreneurship? What are the policy issues in achieving a shift towards a more sustainable development in Lagos State? What are the effects of entrepreneurship on sustainable development in Lagos state? To what extent is automobile technology affect students competency on entrepreneurship development?

1.5       Research Hypotheses

1.         There is no significant difference between students in rural and urban area and competency in entrepreneurship

2.         There is no significant difference between the mean scores of students’ social economic status on entrepreneurship development

3.         There is no significant relationship between automobile technology and students’ competency on entrepreneurship development

1.6              Significance of the study

The finding of the study will equip our general knowledge on the nature of automobile technology and student’s competency on entrepreneurship with emphasis on sustainable development on Lagos State.

This research work is significant because it will assist lecturers, educationists, parents and students to realize that entrepreneurship development is key to sustainable development.

 Curious readers who are in need of general information on entrepreneurships   will profit from reading of the project since it will enhance their knowledge on how sustainable development can be attained.

1.7              Scope of the study

The study will be mainly on the effects of automobile technology students’ competency on entrepreneurship for sustainable development in Lagos state. The study will be limited to secondary schools in Mainland  Local Government Area of Lagos State.

TRAINING MANPOWER DEVELOPMENT AND EMPLOYEE PERFORMANCE

TRAINING MANPOWER DEVELOPMENT AND EMPLOYEE PERFORMANCE 

INTRODUCTION:

The purpose for this study was to determine the training Manpower Development and Employee Performance in an organization. Training of Manpower has been one of the pressing problems that have greatly affected the economy of any nation. Since the problem of training manpower development and employee performance among organizations is not new in the field of educational research, many studies have been carried out, but considerable numbers of literatures and papers have been reviewed. Hence, related literature on this subject therefore has been profound and vast. Some of the studies were quite intriguing. Some were particularly concerned with sporting factors that aided poor employee performance. Such studies have however been helpful in a way that they point to why some employee could not perform or achieve their goals positively thereby opting out as a result.

In the reviewing the related literature for this study, the following areas have been mapped out for review; organization background and employee’s performance, organization income (socio-economic status) and training Manpower development; Organization changes in labour market and Manpower needs in manufacturing and marketing, and summary.

2.1   ORGANIZATION BACKGROUND AND EMPLOYEE’S PERFORMANCE  

The organization structure or background could influence the employee’s performance and training. If the management (managers) of any firms or organization did not attend training, workshops or seminars, they would find it difficult to send their employees to training and also to provide them with some necessary incentive and motivation, and these will affect manpower needs or employee’s performance. Major banks (1979) in his study found out that the organizational structure cum background ha s a unique relationship with training manpower development in an organization. In the same vein, Morris (1972) shows that organization with poor attitude to training of manpower development have their employee as lacking technical know-how. Jegede (1984) also explains that lack of manpower needs in any of the organization can be attributed to organization background and socio-economic status. Musgrave (1979) is of the opinion that companies or organization that fall under the upper and middle classes is of high socio-economic status and are well solidified, they tend to realize the importance of training manpower needs. Moreso, Iniodu (1991), Akpan (1993), and Udofia (1993) are of the view that organization of good standard find it necessary and rewarding to identify, determine and trained their employee with the view to organize workshop, seminars and symposium where technocrats will be involved to show expertise. These will enable the employee to put in maximum performance in the service oriented organization.

2.2  ORGANIZATION INCOME AND TRAINING MANPOWER DEVELOPMENT   

Henry (1993) opined that employee from a rich organizations find it easy to adjust to training life for effective performance and greater achievement. Eket (1986) observed that employee from poor organizations do not attend the same level of training manpower development as those form wealthy organizations. The differences, according to him, may be due to the availability and provision of training materials in different organizations. Esien (1979) noted that low financial position of any organization have a strong influence on the employee performance in an organization.

Manpower can be said as the total knowledge, skill, creative abilities, talents and attitude of an organization to work force as well as the values, attitude and benefits of the individuals involved in it. The needs for Manpower in an Organization include: To maximize utilization of human resources. To reduce excessive labour turnover and high absenteeism. To meet the challenges of new and changing technology and also new techniques of production.

EVALUATION OF INFORMATION TECHNOLOGY ON THE BANKING INDUSTRY

EVALUATION OF INFORMATION TECHNOLOGY ON THE BANKING INDUSTRY (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)

ABSTRACT  

Information technology is a powerful force that drives the world towards a converging commonality. From the beginning of the human era, technology has been of the most essential and most important factor for the development of mankind.

The use of Information technology broadly referring to computers has seen tremendous growth in service industries in the recent past. The most obvious example is perhaps the banking industry.

This project examines the impact of information technology on the banking industry 2000 -2009. It will also find out how growth rate in computer technology cost, interest: interbank, inflation rate, total bank asset, total deposit, number of bank branches, total computer asset cost affect the performance of First Bank of Nigeria.

The study will analyze the problem of the impact of information technology on the banking sector, effectiveness of information technology to tackle the occurrence of long queues deposits and withdrawals; facilitates fraud, saves time of customers, just to mention a few.

This study adopted the ordinary least square multiple regression analyses, Pearson correlation co-efficient of determination to examine and appraise the relationship between information technology and the banking sector of First Bank of Nigeria. The findings show that Growth rate in computer technology cost, interest rate: (inter bank), inflation rate, total bank asset, total deposit, number and bank profits of First Bank of Nigeria.

This study recommends that in order for banks to increase its profitability and carryout good operations the bank should be saddled with the responsibility of mapping out strategies and itemizing tactics to boost its capitalization. 

EFFECTS OF LIQUIDITY PROBLEMS ON COMMERCIAL BANKING IN NIGERIA

The business of modern banking started in Nigeria in 1892 with the incorporation of African Banking Corporation. British Bank of West Africa later absorbed this bank in 1894. The early period of commercial banking in Nigeria was characterized by a lack of legislation which made it an all-comers affair.

With the absence of any banking legislation in 1892, when the first bank was established in Nigeria (African Banking Corporation) anybody could set up a banking company provided the bank is registered under the Ordinance Act which section 2(i) prohibited the formation of a banking company or partnership consisting of more than ten (10) persons for the purpose of carrying on a banking business, unless it was registered as a company, hence it was referred to as the “free banking era”.

This period also saw the establishment of three foreign banks and two indigenous banks. The foreign banks were; The British Bank of West Africa Limited in 1894 (now known as First Bank Plc), the Barclays Bank Dominion colonial and overseas in 1917 (now known as Union Bank Plc) and the British and French Bank, in 1949 (now known as United Bank for Africa Plc). The two indigenous banks were the National Bank of Nigeria in 1933 and the Agbonmagbe Bank (now known as Wema Bank Plc), as well as the African Continental Bank Limited in 1947.

The appointment of the Paten commission of inquiry on 7th September 1948 was another feature of this free banking era. It was to inquire generally into the business of banking in Nigeria and make a recommendation to the government on the form and extent of control, which should be introduced into the banking system.

Based on the report of this commission, the first-ever banking legislation in the country was promulgated in 1952. An increase in the number of indigenous banks in the country was another major event during this period. However, some banks established during this period could not survive.

The second phase (i.e. the second era) in the origin of commercial banking in the country opened with the establishment of the Central Bank Plc (CBN) in 1959. After the establishment of the Central Bank and prior to independence in 1960, new commercial banks were established. 1959 to 1962 saw the enactment and amendments of banking legislation. These were the 1958 Banking Ordinance which became effective in 1959, then 1961, 1962 and 1964 amendment and the Banking Decree.

The evolution of commercial banking in Nigeria brought about the Financial System Review Committee set up by the Federal Government under the chairmanship of a distinguished economist; Dr. Pius Okigbo. The committee known as the Okigbo committee was to review the Nigerian Financial System. Consequently, in a white paper published on the committee with respect to the commercial banks (the establishment of a state bank in each state and the amalgamation of the three biggest indigenous banks into one entity). The Okigbo report, and the white paper on it nevertheless, marked a new era in the evolution of the commercial banking system in Nigeria (Yunisa and Kehinde2010 ).

1.2 STATEMENT OF THE PROBLEM

There are very brilliants ideas, projects, concepts, businesses that are viable, feasible and bankable still waiting for angel investors. There seems to be a lack of faith in the Nigeria Entrepreneur, bank and financial institution business owners by custodians of loanable funds i.e. banks and other financial institutions. Therefore the statement of the problem is how all these business owners can have access to establishing this type of business. More so, inventors find it difficult to access credit.

1.3 OBJECTIVES OF THE STUDY

The main objective of this study is to focus on the problems of liquidity in commercial banks in Nigeria so as to provide the information required to make decisions as to how the fund should be mobilized effectively and one such decisions is made, to provide the data necessary to adequately manage the available fund. Other objectives of this study include;

To determine whether fund mobilization has an effect on liquidity problems. To find out whether illiquidity holds the customer to lose confidence in commercial banking.

1.4 RESEARCH QUESTIONS

1. Does fund mobilization has an effect on liquidity problem?

2. Does illiquidity hold the customer to lose confidence in the commercial banks?

1.5 RESEARCH HYPOTHESES

Ho: Fund mobilization has effect on problems of liquidity.

Hi: Fund mobilization does not have any effect on problems of liquidity.

Ho: Illiquidity holds the customers to lose confidence in the commercial banking system.

Hi: Illiquidity does not hold the customers to lose confidence in the commercial banking system.

1.6 SCOPE OF THE STUDY

The scope of this study is restricted to the effect of liquidity problems on the commercial banking system in Nigeria with the United Bank for Africa Plc. (UBA) as the case study. The research work is limited to the staff and customers of the bank only.

1.7 SIGNIFICANCE OF THE STUDY

A study of this kind is expected to make a significant contribution to the organization’s development. The study will provide the basis for scrutiny for liquidity problems on commercial banking in Nigeria, which aids banks under study (United Bank for Africa) and other commercial banks to solve the problems faced in the area of liquidity and mobilization of funds. It will assist other banks to solve similar problems. It also provides various indicators and methods used to measure organizational performance.

1.8. LIMITATION OF THE STUDY

As expected this study may not be without its limitations.

The study was limited by a number of factors, which include the following:

i. Insufficient numbers of recent literature on the subject topic.

ii. Inadequate time and financial resources to carry out the study extensively.

iii. Inaccessibility of some relevant data.

1.9 DEFINITION OF TERMS

1. Liquidity: The liquidity of an organization is measured by the ability of that organization to meet its short term debt and liabilities.

Liquidity can be measured through the following ratios:

(a) Current ratio: current asset

Current liabilities (in which the ratio is 2:1)

(b) Acid test ratio: Current asset – stock

Current liability

(in which the ideal acid test ratio is 1:1)

(c) Fixed interest ratio: Profit before interest and tax

Fixed interest rate

(d) Return on Capital Employed (ROCE):

Profit before interest and tax

Capital Employed

(e) Earning per share ratio:

Profit after tax

No of ordinary share issued

2. Illiquidity: An establishment or bank is said to be illiquid when it can no longer meet its depositor's demands or its obligations as at when due. It is a numinous sign of insolvency and when the problem of illiquidity persists for a very long time, it could lead to the forceful sale of assets below their market value.

3. Commercial Banks: Commercial banks are institutions where people, corporate bodies, statutory corporation etc keep money and other valuables for security reasons.

4. Insolvency: An establishment or bank is said to be insolvency when the value of its realizable assets is less than the total value of its liabilities.

EFFECT OF GLOBALIZATION ON THE NIGERIAN BANKING PERFORMANCE

There have been different deductions about what globalization depicts. Some related it to the scientist's perspective, economic and social-political perspective while some view globalization from the information technology aspect, but globalization under this research work or study, is viewed from the banking perspective.

On this note, there are so many definitions given to globalization by different authors or scholars. Globalization can be seen as a process of integrating economic decisions making such as consumption, investment, and savings all across the world. It is a process of creating a global market in which all nations are forced to participate.

In other words, globalization is a process of expanding economic cooperation among states and this does not necessarily imply a future breakdown of borders.

Globalization can also be defined as the integration of national economies through trade and financial transactions. It is a process that has tended to reduce the ability of microeconomic policy to achieve its objectives without due consideration of countervailing effects of competing policies adopted by other nations. The effect of globalization on Nigerian banking performance has been the outcome of several factors among which are the increase in the volume of international trade and capital flows, technological improvement in the communication and data processing, and the deregulation of the domestic market for international financial transactions. The advance in information and technology, telecommunication technology tends towards the building of strong Nigerian banking system, in order to aid its efficient and effective performance, especially with the new reform of recapitalization of twenty-five, billion naira (#25,000,000,000)

All over the globe, foreign banks have entered into countries and added another dimension to stiff domestic competition and in the process, significantly affecting the structure of domestic banking markets. This is particularly evident in the United States, central Europe, Latin America, and Asia, where foreign old banks have captured a growing share of key markets (Rose, 1999). The profiles of the foreign banks that have entered into joint ventures with Nigerian banks are intimidating. They have the capacity and potentials to restructure the banking system of any country. The strategic alliances between the Nigerian banking system and foreign banks and the increasing resources of Nigerian banks to foreign markets to raise capital funds are signs of movement towards globalization and the Nigerian banking industry. This has to a large extent aid a magnitude level of great performance in the industry and of course tending it to a greater height.

Furthermore, globalization has transformed the Nigerian banking performance in a profound way by altering the size and structure of the firms that comprise it. Major banks can now extend their branches network beyond national frontiers or built a strategic base in foreign financial centers by acquiring either local banks or subsidiary banks. The network of financial connections, among banks and other financial institutions, is now embracing the global world.

Globalization has not only transformed the Nigerian banking system and or aid it’s performance, but also has a positive impact on wholesale financial markets as evidence by blurring-off the traditional barrier between commercial banking and investment banking and asset management motivated by the boom in equity and bond market, in high yielding instruments and the wave of merger and acquisition, the Nigerian banks have expanded or introduced into the field of investment banking by engaging in security operations.

Also, globalization is simply viewed as the gradual evolution of markets and institutions such that geographical boundaries do not restrict financial transactions. Globalization of banking in any economy means that domestic banks have opportunities to engage in banking operations (accepting deposits, lending, borrowing or investing) in foreign markets. They can issue or transact in foreign financial instruments denominated in foreign currencies. Foreign banks can also perform similar functions in the domestic economy. The impetus for globalizing the financial market initially came from the deregulation of the foreign exchange and capital markets by governments of the developed countries, especially the united states, the United Kingdom and Japan. Perhaps the most celebrated of all these was the deregulation of the London stock exchange in 1986, Which made London be the most open and competitive capital market in the world (Eunamd Resnick, 2001). This was followed by the widespread Liberalization of financial markets in both developed and developing economies.

Advances in telecommunication contributed in no small measure to the emergence of global financial markets. This technological advancement, especially internet-based information technologies, gives investors around the world immediate access to the most recent news and information affecting their investments, sharply reducing information costs. Another force that drives globalization is the increasing desire of institutional investors and portfolio managers to diversify their investment portfolio behind geographical boundaries. Finance theory holds that international diversified portfolios are more efficient than domestic portfolios.

Moreover the stabilization of finance and financial risk have been attributed to an increase in the financial capability for engaging precision finance, the integration of national financial institutions and the activities of the markets they engage in, and the emergence of the global banks and the international financial conglomerate, each providing a mix of financial products and services in a broad range of market and countries. Financial and bank globalization has resulted in two distinct development in the global bank;

The traditional banking institutions have evolved into financial services of creating new accounts. Additionally, non-banks financial institutions now actively compete with banks both on an asset and liability sides of the balance sheet thereby blurring the distinctions between banks and non-banks institutions. Also, the rapid growth in the share of other earning assets in the total asset and relative growth in the off-balance sheet items has unprecedented.

THE EFFECT OF IMPREST SYSTEM ON CASH MANAGEMENT

 THE EFFECT OF IMPREST SYSTEM ON CASH MANAGEMENT
 CHAPTER ONE
1.1      Background to the Study
Petty cash imprest system is an accounting system which provides for the replenishing of money spent for petty expenses in the organization. The imprest system provides that a specified amount of money be provided to meet petty expenses in the office at a specified period of time referred to as the float. The expenses so incurred are recorded in the petty cash record. At the end of the specified period an amount is issue to cover the expenses so incurred to bring the balance back to the original amount. The replenishment is credited to the primary cash account, usually a bank account (Dr - Petty Cash a/c, Cr - Bank a/c) and the debits will go to the respective expense accounts, based on the petty cash receipt dockets (Dr - Expense a/c, Cr - Petty Cash a/c). The amounted requested for the replenishment of the imprest is documented in the petty cash dockets and their associated receipts or invoices. The documentation facilitates the records of the expenses to be checked against the float to know what is left as balance; WEB EXPENSE (2016). The research therefore seek to investigate the effect of Imprest system on cash management.
 Statement of the Problem
Petty cash imprest system is an accounting system which provides for the replenishing of money spent for petty expenses in the organisation. The imprest system provides that a specified amount of money be provided to meet petty expenses in the office at a specified period of time referred to as the float. The expenses so incurred are recorded in the petty cash record. At the end of the specified period an amount is issue to cover the expenses so incurred to bring the balance back to the original amount. The replenishment is credited to the primary cash account, usually a bank account (Dr - Petty Cash a/c, Cr - Bank a/c) and the debits will go to the respective expense accounts, based on the petty cash receipt dockets (Dr - Expense a/c, Cr - Petty Cash a/c). The amounted requested for the replenishment of the  imprest  is documented in  the petty cash dockets and their associated receipts or invoices. The documentation facilitates the records of the expenses to be checked against the float to know what is left as balance.
The imprest system of cash management has not being given greater consideration in the accounting process of cash management in many organizations due to the nature of the purpose for which the cash is provided for. Just as the name implies proper check and balances are not conducted before the expenses are replenished to continue with the next imprest period. Therefore, many organization suffer hugh losses from the imprest system for sources considered insignificant in the accounting process of the organization.
Much of petty cash funds have being diverted for personal uses and unaccounted for thereby increasing organizational cost. The principal reason is that in may organization petty cash accounting is not included in the main accounting policy framework of the organization as a result when other accounting records are  checked and scrutinized  the petty cash records are not included in  the scheme. Consequently, the neglect of management in overseeing the imprest system has constituted a major reason for the regular mismanagement and fraud in the imprest system of cash management. However with modern technology advocate for the application of the digital process to enhance a policy based implementation of the imprest system has been made. Therefore, the problem confronting the research is to determine the effect of the imprest system on cash management.
1.2      Objectives of the Study
To find out the effect of  imprest system on cash management. To determine how effective the imprest system is. To find out the challenges of the imprest system.
1.3      Research Questions
i.  What is the effect of imprest system on cash management?
ii. How effective is the imprest system?
iii. What are the challenges of the imprest system?
1.4      Significance of the Study
The study proffers the need for an enlarge accounting policy framework which will cover the presentation of accurate accounting records and cash management for the imprest system. The imprest system of cash management has not being given greater consideration in the accounting process of cash management in many organizations due to the nature of the purpose for which the cash is provided for. Just as the name implies proper check and balances are not conducted before the expenses are replenished to continue with the next imprest period. Therefore many organization suffer hugh losses from the imprest system
1.5      Research Hypothesis
Ho: The effect of imprest system on cash management is not effective
Hi: The effect of imprest system on cash management is effective
1.6      Scope of the Study
The study focuses on the appraisal of The effect of imprest system on cash management
1.7      Limitations of the Study
The study was confronted by some constraints including logistic and geographical factor.
1.8      Definition of Terms
IMPREST SYSTEM DEFINED
Petty cash imprest system is an accounting system which provides for the replenishing of money spent for petty expenses in the organisation. The imprest system provides that a specified amount of money be provided to meet petty expenses in the office at a specified period of time referred to as the float. The expenses so incurred are recorded in the petty cash record. At the end of the specified period an amount is issue to cover the expenses so incurred to bring the balance back to the original amount. The replenishment is credited to the primary cash account, usually a bank account (Dr - Petty Cash a/c, Cr - Bank a/c) and the debits will go to the respective expense accounts.

IMPROVING MAINTENANCE CULTURE AND QUALITY OF PUBLIC PROPERTIES IN NIGERIA (A CASE STUDY OF AKWA IBOM INTERNATIONAL STADIUM) -

1.1   BACKGROUND TO THE STUDY:  The Advanced Learners Dictionary defines maintenance as the process of protecting or preserving someone or something, or the process of keeping something in good condition. Culture, on the other hand, is a way of life, a lifestyle, customs, traditions, habits that portray the attributes of a person/people.

Maintenance culture is an attitude which is sadly lacking in Nigeria, whether in the home, office, school or factory. Mbamali (2003) added that poor maintenance culture has become a widely recognized problem in Nigeria which has poorly affected the quality of public properties. Public property is property that is dedicated to public use and is a subset of state property. The term may be used either to describe the use to which the property is put, or to describe the character of its ownership (owned collectively by the population of a state). This is in contrast to private property, owned by an individual person or artificial entities that represent the financial interests of persons, such as corporations. State ownership, also called public ownership, government ownership or state property, are property interests that are vested in the state, rather than an individual or communities (Wikipedia, 2015).

Maintenance culture in Nigeria is one of the lowest around the world, especially, in our principal towns and cities where the majority of public properties are located. In the rural areas, the story is different and pleasant to hear. The traditional practice of communal clearing of community owned places such as market playground is in almost every village and in private homes. Also, it is customary to refurbish building interiors with mixtures of cow dung or natural red clay. The end result is attractive and totally indigenous. According to Wahab (1995) the nation accords low priority to property management leading to neglect of public properties. Mbamali (2003) asserted that we have no maintenance policy and therefore no such culture exists. Neglect of maintenance has accumulated consequences in rapid increase in the deterioration of the fabric and finishes of a building, accompanied by a harmful effect on the contents occupants Seeley, (1987). Inadequate maintenance culture is a peculiar feature of almost every public building in Nigeria. According to Rotimi and Mtallib (1995) is partly due to poor maintenance culture on one hand and partly due to the absence of an appropriate benchmark. Gurjit (1990) asserted that lack of proper maintenance culture bring the life of these public building last before reaching the total obsolescence state. The declining maintenance culture in Nigeria and its effect on public buildings and all other properties has become a major problem to the government at various levels. This study examines ways of improving maintenance culture and its effect on quality of public properties

A great portion of a nation wealth is evident in the total value of its public properties and buildings; it is also an important factor in the production of the building to be preserved. A poorly maintained building in a decaying environment depresses the quality of live and contributes in some measures to anti social behaviour which threatens the socio" political environment it finds itself in According to Stephen (2002) public properties services rarely perform as well as desired. The causes emanate from deficiencies in design, construction, commissioning and maintenance, many researchers have also observed that the generators of maintenance problems could be looked upon has caused during the design stage or construction stage or initiated during the usage stage or the user’s carefree attitudes (Bad maintenance culture) which will eventually deteriorate the condition of the property. He further said that all these could be planned for during the design stage. Maintenance problems though do manifest during the use of the building, their causes might be during the design stage. These made Dekker (2002) to assert that thinking on the maintenance should start in the design phase. According to Speight (2000), it is at the design stage that the maintenance burden can be positively influenced for better or for worse. Where the designer fails to make adequate consideration for minimizing maintenance problems, it always turns out to be a big problem when the building is eventually occupied for usage, the consideration for effective maintenance as one of the parameters for the building design. Seeley (1997) also said that a skilful design can reduce the amount of maintenance work and also make it easier to perform, since good maintenance begins on the drawing board.

1.2   STATEMENT OF THE PROBLEM:  Oladimeji (1996) further described maintenance of public properties as the combination of any continuous actions carried out to retain a property in or restore it to an acceptable condition. Onwuka (1989) stated that maintenance culture is concerned with the planning and control of construction resources to ensure that necessary repairs and renewal are carried out with maximum efficiency and economy to enhance the quality of the property. However, the researcher is examining the ways of improving maintenance culture and quality of public properties in Nigeria.

1.3   OBJECTIVES OF THE STUDY:  The following are the objectives of this study:

1. To examine ways of improving maintenance culture in Nigeria.
2. To determine ways of enhancing the quality of public properties through improved maintenance culture.
3. To determine the factors affecting maintenance culture in Nigeria.
4. What are the ways of improving maintenance culture in Nigeria?
5. What are the ways of enhancing the quality of public properties through improved maintenance culture?
6. What are the factors affecting maintenance culture in Nigeria.

1.4   SIGNIFICANCE OF THE STUDY:  The following are the significance of this study:

1. The findings from this study will educate the government and policy makers, stakeholders in building and the general public on the need for improvement in maintenance culture as a way of improving the quality of public property.
2. This research will also serve as a resource base to other scholars and researchers interested in carrying out further research in this field subsequently, if applied will go to an extent to provide new explanation to the topic

15   SCOPE/LIMITATIONS OF THE STUDY:  This study on improving maintenance culture and quality of public properties in Nigeria will cover the attitude of Nigerians to the adequate maintenance of public properties, looking at ways to improve maintenance culture with a view to improve the quality of public properties.

1.6 LIMITATION OF STUDY: Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

REFERENCES:  Dekker, B. (2002). Application of maintenance optimization models; a review and analysis on reliability engineering and system safety lsevier science ltd. Northern Ireland Gurjit, L. (1990). The Surveyor and Establishing a maintenance management system for cinema building maintenance vol. 3, American business journal Mbamali, P. (2003). The Impact of accumulation deferred maintenance on selected buildings of Two Federal Universities in the Northwest zone of Nigeria. Journal of Environmental Science vol 3 (17) . Oladimeji, A.B. 1996. ‘Budgeting, Costing and Cost Control in Maintenance Engineering and Management”, being a paper delivered at a 3-Day Course organized by the Nigerian Society of Engineers, Osogbo Branch at the Federal Polytechnic Ede, Osun State, 3rd – 5th July. Onwuka, E.S. 1989. “Maintenance in Building and Construction Works”. Lagos Q.S. Digest Journal Vol. 3 No 1, pp 3 - 4 Rotimi, L.A. and Mtallib, M.E. (1995). A paper title: Economic consideration works, proceedings of the International conference on maintenance of engineering Facilities in developing countries 8aborne, Botswana. Seeley, T. (1987). Building maintenance. 2nd edition Macmillan press Ltd, Nothingham. Speight, B. A. (2000). Maintenance of Buildings - its relationship to design, The chattered surveyor 1-10 166. Stephen, L. (2012). Building services maintenance - The forgotten Discipline, Aha management publications www.aha.com.auGenergy1.htm Wahab, J.A. (1995) Adequate and Affordable Housing for Nigeria in the 21st century housing today. Journal of the Association of Housing Science and its application, vol. 2,