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The Role Of Financial Institutions In Export Finacning In Nigeria From 2006 – 2012
[A CASE STUDY OF FIRST BANK OF NIGERIA PLC ONITSHA BRANCH]
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Accommodation for a period of 3 days to 50 days, while long term credit
usually related to a period of more than 5 years. The exporters need
pre-shipment finance for security the raw material and other input
required for the execution of an export also ranging from the shipment
of goods to foreign countries the credit is therefore regards as a loan
granted to finance goods on the bases of
1. Letter of credit open in favour of exporter by overseas. Imports bank.
2.
Insurance of ware House Company. The duration of such credit provided
by the past does not usually exceed 12 days post shipment credit is a
loan or advance granted or any other type of credit, provided by the
bank to an exporter of goods from the date of export proceeds within
today. The main types of advance for post shipment are negotiated form
of export bill drawn with confound export contract will order. ii
The
Nigeria export and import bank (NEXIM) provides both long and short
term credit through commercial and merchant bank to support export from
non oil product
a. Advance fee fund syndromes popularly called 419
b, Cheating
c. Supplying of poor quality product
d. Manipulation of words and document
The
practice sign through illegal export of goods especially to neigbouring
west African Countries which cannot be over worked as a in habited
factor. In view of there problems counters in financing export.
1.3 PURPOSE OF THE STUDIES
The purpose of this research work is as follows:
i. To study the modalities adopted by export that need export assessing
ii. To determine the economy polices finance and their effectiveness on the export business
iii To ascertain the problems encountered by the financial institutions in export production finance.
iv. To examine the prospective of export financing in Nigeria
vi. To ascertain the extent to which oriented industries benefited from export financing.
1.4 SIGNIFCANCE OF THE STUDY
The
research work on the role of financial Institutions in export financing
will be beneficial to the Nigeria economy in the following ways.
1.
GENERAL ECONOMY: It will help the nation in devising the foreign
exchange and revenue of the nation as well as receiving pressure on the
balance of payment
2. MANUFACURERS: With the introduction of the
structural adjustment program (SAP) in 1986, many manufacturers have
been oriented into the system and hopefully manufactures export good
with the financial institutions incentives will improve the production
potentials as well as production producing large qualities of export
purpose.
3. EXPORTERS: The financing of export will go a large way
in helping Nigeria exports to compete favorably with the international
world.
4. STUDENTS: This research work will be valuable to the
students who may carry out the similar research work in related field
for reference purposes.
5. FINANCIAL INSTITUTIONS: The research work
will work into the problems and the prospect of institution the export
finance and the recommended ways to improve on it.
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ABSRACT - [ Total Page(s): 1 ]The primary objectives of this study was to examine how the financial institution export finance in Nigeria using First Bank of Nigeria Plc Onitsha branch as a case study. In carrying out this study, I used survey method in which I used the questionnaire to collect data. The target population was the staff of first bank of Nigeria Plc Onitsha Branch from which a sample of 80 was drawn. I used research questions and formulated research hypotheses. The relevant literature was reviewed for the stud ... Continue reading---
