AN EXAMINATION OF EFFECT OF OFF SHORE UNIT ON PROJECT FINANCING IN NIGERIAN ECONOMY
ABSTRACT.
This project is a very crucial study for the off – shore banks to establish a way of financing in Nigeria. In carrying out this research work I intended to determine the possibility of off – shore banking operation in Nigeria.
Secondly, whether there is enough multinational firms and corporation to carry out the function of off – shore banking unit in Nigeria. Finally, it is possible for the off – shore banking unit in Nigeria and operation to assist the government financially.
It was on this base that I the researcher made the recommendation and conclusion to improve the operational system of off – shore banking unit in Nigeria.
PROPOSAL PAGE.
The basic objective situated under this study was the evaluation of the study.
“AN EXAMINATION OF EFFECT OF OFF – SHORE UNIT ON PROJECT FINANCING IN NIGERIA ECONOMY”
This study is structured into five chapters to make for easy reading and comprehension.
CHAPTER ONE. An over view of the topic. It contains facts about the background of the study, statement of problem, significance of the study, objectives of the study and finally the limitations and scope of thestudy.
CHAPTER TWO. Here is the study of related literature review which used in the course of these study.
CHAPTER THREE. It dealt with research design and methodology. It rayed my sources of data. Location of my data and the method I used in data collection due literature.
CHAPTER FOUR. The summary of my findings.
CHAPTER FIVE. Recommendations and findings. Inview of the findings above it have been made to help us determine whether the off – shore banking unit can help the government. Financially and also to determine the possibility of off – shore banking operation in Nigeria.
PROJECT FORMAT.
1.1. Background of the study
1.2. Statement of problem.
1.3. Objectives of the study.
1.4. Significance of the study.
1.5. Limitation of the study.
2.1 Review of related literature.
CHAPTER THREE.
RESEARCH DESIGN AND METHODOLOGY.
3.1. Sources of data
3.2 locations of data
3.3. Method of data collection.
4.1 Findings.
5.1 Conclusion
5.2 RECOMMENDATIONS AND BIBLIOGRAPHY.
CHAPTER ONE.
1.1 BACKGROUND OF STUDY.
The issue of off – shore banking has to do with those financial activities that aid international trade traction and other business activities that off the shore of the entity. Hence, it include a variety of financing activities like off – shore aids and grants etc.
However, it has something in connection with financing activities that is geared towards the raising of funds for financing corporation operation outside the location or the shore of the country. Wherefore, the issue of development project and has made a serious challenge to Nigerian banks and other developing countries as a problem to the U.S investment ( capital market) mostly due to lack of foreign exchange and off – shore funds to execute her development project.
Effort has be made by Nigerian government and developing countries to borrow from some of these international financial institutions including the world bank but the anticipated or excepted result has not been reached.
History made us understand, that Nigerian government effort can be traced back to the year 1988 which borrowed from world bank for the construction of the railway extension to borrow under the guarantee of the united kingdom government. Despite the size of Nigeria as a whole, she still has a problem of foreign exchange to execute her major project. Hence, the size of a country does not stand but her or the closeness to the euro – market is what should be considered important. For example, Bahamas and Caymans they are very small in size but because of their proximity to the united state investment market, they were to realize a large sum of off – shore fund for their economic development.
It is necessary to note at this junction that European residents and corporations have no problems of foreign exchange for the development of their economy knowing most of the investment made her in the buoyant American economy. However, united kingdom is known to be at the center of euro – currency and has a long tradition of being the main center of traditional finance. Also, another problem facing Nigeria is how to finance her faulty oil refinery which is due to lack of off – shore funds for the project. It is this respect that the provision of off – shore funds in necessary.
Moreover, the term off – shore fund can also refer to a financial institution which is physically located in a country which provide financial services like deposit and loans to foreign residents, corporations, and institutions of the utter exclusion of the country residents, corporation and institutions. Also, it can be referred to as the operation of a financial institution which has little connection with that countries financial system. OYEGBA O (2002).
1.2. STATEMENT OF PROBLEM.
To start with, one of the problems of the issue of off – shore banking is the problem of foreign exchange or off – shore funds to execute her various project. Hence, having this deficiency the country should bear in mind that the proximity or closeness to euro – market is what really matter, hence should press on how to achieve that. Another, this is the connectivity to the center of euro – currency which the United Kingdom.
Finally, the problem of management is also one of the problem facing those country and that is where the research to yet is directed towards.
1.3. OBJECTIVES OF THE STUDY.
This research is objective towards the following.
1. To examine critically the possibility off – shore banking unit attracting deposit from foreign residents for our issue in another country.
2. Another objectives of off – shore banking unit is to help European not only to serve but also to invest in American companies. This attracting euro – dollar to American country.
3. The off – shore banking unit also assist in collecting information about American companies and their stock prices, volume of trade turnover profit and dividend and further assist them through procedure of buying shires.
4. finally, the off – shore banking unit established the euro – dollar services in brussol to cope with the problems associated with physical shipment of securities, the risk of paying for a surrending stock and bond transfers.
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