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THE ROLE OF ACCOUNTANT IN MANAGING AND LIQUIDATING DISTRESSED
BANKS
THE ROLE OF ACCOUNTANT IN MANAGING AND LIQUIDATING DISTRESSED
BANKS
TABLES OF CONTENT
TITLE PAGE
DEDICATION
ACKNOWLEDGEMENT
PROPOSAL
TABLE OF CONTENTS
CHAPTER ONE:
INTRODUCTION
1.1 BACKGROUD OF
THE STUDY
1.2 STATEMENT OF
PROBLEM
1.3 OBJECTIVE OF
THE STUDY
1.3 LIMITATION OF
THE STUDY
1.4 SIGNIFICANCE OF
STUDY
1.6 RESEARCH
QUESTION
CHAPTER TWO
2.0
LITERATURE/ESSAY DEVELOPMENT
2.1 THE
ORIGIN OF MODERN BANKING
2.2 NATURE
OF BANKING
2.3 HISTORY
AND DEVELOPMENT OF BANKING IN NIGERIA
2.4 THE
NIGERIA BANKING SYSTEM/HOW IT OPERATES
2.5 DISTRESS
IN BANKS
2.6 POSSIBLE
CAUSE OF DISTRESS IN BANKS
2.7 THE ROLE
OF ACCOUNTANTS IN DISTRESSED BANKS
2.8 THE ROLE
OF ACCOUNTANTS AS LIQUIDATOR OF DISTRESSED BANKS
CHAPTER THREE
3.0 FINDINGS
3.1
CONCLUSION
3.2
RECOMMENDATION
3.3
BIBLIOGRAPHY
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
Banks plays crucial roles in the process of economic
development by mobilizing funds from the surplus spending
units into the economy, and by on.
Lending such funds to the deficit spending units fro investment, banks
increase I the process. The quantum of
national savings and investments through an appropriate investments multiplier,
the volume of goods and services produced in an economy increases overtimes as
a result of the investment projects embarked upon through banks funds.
Also through
banks direct and indirect contributions towards the growth of the national
economy, they (banks) succeed in promoting an efficient payment system, and in
creating banking habits and in developing the society at large.
I intend to
look at the possible reasons for bank distress and the effects of such failures
on the rest of us before looking at “The Role of Accountant in Managing and
Liquidating a Distress banks”.
A various
times over the past five years of the structural adjustment programme (SAP) the
banking industry had to cope with different types and forms of difficulties,
all in a bid to record and sustain what one may call impressive performance we
have for instance been at different times, the removal and late re-introduction
of selling on interest rates.
The seemingly nectarous and dreaded stabilization securities
have also become one source of treasury management policy devotement that banks
have learnt to live with.
The term
“distress” means great pains discomfort or serious sufferings caused by wants
of money or mismanagement of money by bank officials which as we know is a
complete relation of the trust reposed I them by innocent investors.
The role of
accountant in managing and liquidating a distress banks are too much and cannot
be over emphasized when liquidating a distress banks.
Accountants
has to see that all the assets and liabilities of distress banks are being
valued by expert values.
The accountant has to be fully involved in appointing an
expert liquidator who would then sell the assets and liabilities of the
distressed bank by means of auction to the general public.
In this case,
it is not only that the property of the bank is being liquidated but also, the
property of the debtors of the distressed bank.
The liquidator has to fall back on the assets which the debtors of the
bank used as their collateral when borrowing money from the bank.
The money
being recovered from the proceed should be used to settle the creditors of the
distressed banks. This is so because the
bank has been turned “DISTRESS” by the Central Bank of Nigeria (CBN) as a
result of its inability to meet up with the stipulated guidelines of having of
capital and non-marketable assets base.
1.2
STATEMENT OF PROBLEM
There are many problems which could eventually lead to bank
distress just as there are many possible causes of death of a
human being.
Some of the
problems are stated here but they are in no way exhaustive.
i.
Bad management
ii.
Inadequate capital
iii. Risk
asset portfolio
iv. Assets
and liabilities management
v.
Boardroom crisis
vi.
Inability to adopt to changes
vii. Fraud
viii. Planning
etc.
1.3
OBJECTIVE OF THE STUDY
The researcher is precisely focusing mainly on the objective
of the managing and liquidating a distress bank in the sense
that she carried out her study which intend to ascertained how the property of
the distress bank should be disposed as a way of recovering in full or part of
the money deposited by the customers during the banking operation.
The study is also designed to highlight the consequences of
liquidating a distress bank which include how exactly the asset should be
valued to make sure that the auctioneer does not pay less or making a pledge of
paying later.
In order
further, this course of study the following aims are being considered as some
of the objectives of managing and liquidating a distress bank:
a.
Distress
bank
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