Case Study of First Bank of Nigeria

THE ROLE OF DEPOSIT MONEY BANKS IN THE PERFORMANCE OF SMALL
SCALE ENTERPRISES IN NIGERIA: A CASE STUDY OF FIRST BANK OF NIGERIA
BY
OGUNSOLA TIMILEHIN OLUWOLE
MATRIC NO: NOU142803652
A PROJECT SUBMITTED TO THE DEPARTMENT OF ENTERPRENEURIAL AND
BUSINESS MANAGEMENT, FACULTY OF MANAGEMENT SCIENCE, NATIONAL
OPEN UNIVERSITY OF NIGERIA, IN PARTIAL FULFILLMENT OF THE
REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE (B.Sc. HONS)
DEGREE IN ENTERPRENEURIAL AND BUSINESS MANAGEMENT
JULY, 2018

DECLARATION
I OGUNSOLA TIMILEHIN OLUWOLE do humbly declare that this research work entitled
THE ROLE OF DEPOSIT MONEY BANKS IN THE PERFORMANCE OF SMALL
SCALE ENTERPRISES IN NIGERIA is as a result of findings from my research efforts,
carried out in the Department of Entrepreneurial and Business Management, Faculty of
Management Sciences, National Open University of Nigeria. It was carried out under the
supervision of Dr. Adegunle. I further declare that, to the best of my knowledge, this work
contains no material previously published by another person or group except where due
acknowledgement has been made in the text and stands subject to plagiarism scrutiny.
___________________________________ __________________________________
Name/Signature Date
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CERTIFICATION
This is to certify that this research project entitled THE ROLE OF DEPOSIT MONEY
BANKS IN THE PERFORMANCE OF SMALL SCALE ENTERPRISES IN NIGERIA
was carried out by OGUNSOLA TIMILEHIN OLUWOLE in the Department of
Entrepreneurial and Business Management, Faculty of Management Sciences, National Open
University of Nigeria, Abuja, Nigeria for the award of Bachelor of Science Degree in
Entrepreneurial and Business Management.
_____________________ ______________________
Dr. Adegunle Adesina Date
(Ph.D)
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DEDICATION
This project is dedicated to Almighty God who gave me the privilege and the opportunity
to start and complete this program successfully.
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ACKNOWLEDGEMENTS
My unalloyed gratitude goes to God Almighty, my creator, who has been the source of
my strength and help me to reach this stage of my academic pursuit.
I express thanks to many people for their contributions and assistance especially Dr.
Adegunle my supervisor for your immense contributions amidst your tight schedules and fatherly
advice to make the research work a great success. Sincerely, you are a great supervisor with a
difference. I equally extend my regards to Professor Bandele M.O., Director NOUN, Ibadan
Study Centre and all the entire staff of National Open University of Nigeria (NOUN), Ibadan
study center especially Mrs. F. Adeoye (my faculty officer) and other staff in the Administrative
Unit for their understanding and encouragement all through the degree programme.
My greatest appreciation goes to my dear parent Mr/Mrs Ogunsola for their untiring
efforts, prayer and financial support. Also to Mr and Mr Oshin and to my entire siblings,
Ogunsola Oluwagbemiga Ike, Ogunsola Oyinkansola Funke, Ogunsola Daniel Aguda your
goodwill, love and maximum support is highly appreciated.
Indeed, I appreciate wonderfully the inspiration, encouragement and efforts of the
following friends, and coursemates: Mr Aigbevboile Ibraheem, Ajala Mayowa, Rasaq Semiu,
Yusuf Opeyemi, Ibidoja Oluwatoyin, Afonja Omotolawa Aldrat, Williams Oluwatoyosi,
Ogunbodede Olamide. I say big thanks for being there always for me.
May God Almighty bless you all (Amen)
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ABSTRACT
This research examined the role of deposit money banks in the performance of small
scale enterprises in Nigeria a study of First Bank of Nigeria. Specifically, the study highlights the
different sources of finance available to small scale enterprises, it also examine the role of
deposit money banks in satisfying the financial needs of SMEs in Nigeria and finally it also
examine method to reduce formality needed for financing the entrepreneurs by deposit money
banks. A sample is a portion of the population selected for study. It is very important to select
sample size that will give sufficient fair representation of the population. There are two basic
way of making the sample size decision, one is by rule of thumb and the other one is by
calculated method. In this research work, the rule of the thumb was used for this research where
90 employees of total population were selected as the sample size. Simple random sampling was
used to select target individual from each stratum. The complete questionnaires were collected
serially, coded and analyzed sequentially a cording to the research questions. Tables were used to
present information to facilitate analysis, simple percentages where used while Chi -square was
used to test the hypothesis. The responses were of five-point scale which range from "strong
agreed to the undecided ". Thus; Strongly Agreed = 5 Agreed = 4 Undecided = 3 Disagreed = 2
Strongly Disagreed = 1. The findings of the research indicated that there is no significant
relationship between financing of small and medium scale enterprises and deposit money banks.
Furthermore, result indicated that there deposit money banks and lending to small scale
industries and also in meeting the needs of small and medium scale enterprises. It is
recommended that the government should be consistent in its industrial policies so as to enable
manufacturing firms to factor tariff measures into their trade decisions.
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TABLE OF CONTENTS
Page
Title Page i
Declaration ii
Certification iii
Dedication iv
Acknowledgements v
Abstract vi
Table of Contents vii
List of Tables ix
CHAPTER ONE: INTRODUCTION
1.1 Introduction 1
1.2 Background to the study 2
1.3 Statement of the problem 5
1.4 Objectives of the study 6
1.5 Research questions 6
1.6 Statement of the hypothesis 6
1.7 Significance of the study 7
1.8 Scope of the study 7
1.9 Limitations of the study 8
1.10 Definitions of terms 8
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction 10
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2.1 Conceptual framework 10
2.2 Theoretical frame work 14
2.3 Literature on Subject Matters 15
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 Area of the Study 34
3.1 Sources of Data 34
3.2 Sampling Techniques 36
3.3 Method of Data Collection 37
3.4 Method of Data Analysis 37
3.5 Reliability of the Instrument 38
3.6 Validity of Instrument 39
3.7 Limitation of Study 39
CHAPTER FOUR: DATA ANALYSIS, FINDINGS AND DISCUSSION
4.0 Data analysis, findings and discussion 40
4.1 Findings of the Study 40
4.2 Test of Hypothesis 47
4.3 Discussion of Findings 51
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary 52
5.2 Conclusion 53
5.3 Recommendations 54
References 56
Appendix 61
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