ABSTRACT.
This research study was conducted in order to
examine survival strategy for banks in Nigeria focus on budgeting. In order to
actualize this, the researcher chooses United Bank for Africa (UBA Lagos). The
researcher addressed the following problems in this study like low level and
poor performances that threaten survival of the banking industry. None
effective application of budgeting in a depressed economy as a means of
survival in the banking industry The researcher employed descriptive type of
research design, questionnaires, personal interviews were used in getting
primary data while text books, hand-books, newspapers were used in collecting
and gathering secc5ndary data. The data collected were analyzed and interpreted
using tables with simple percentages and chi-square. From the test and
interpretation of the hypothesis as well as other analysis made the following
results were obtained. • The banking industry has a significant, effective and
efficient budgeting system. • The industry has both qualified, experienced and
unqualified members that prepare and formulate their budget. • The industry
works with an error free budgetary system which uplift the smooth running of
the banking industry in a depressed economy. x •1 The researcher therefore
recommends that the banking industry should embark on the following for smooth
running of the banking industry in a depressed economy which will yield an
effective and efficient profit. 1. The budget manual should be reviewed from
time to time and should be circulated to all that are coming in the preparation
of the budget. 2. The means of identifying variances should be more clearly
stated and evaluated. 3. Managers should be encouraged to attend training
programmes on budgeting and budgetary control to enhance their effectiveness in
budget preparation in particular and productivity in general. 4. For greater
effectiveness budget monitoring committee should be set up. 5. The management
of the bank should ensure that individual bank staff doing a particular task
must be consulted when setting the target for the task because such person
might be in the better position to make reliable estimates.
OKORONKWO, N (2021). Survival Strategy For Banks In Nigeria Focus On Budgeting (A Case Study Of United Bank Of Africa Plc; Lagos) . Mouau.afribary.org: Retrieved Nov 02, 2024, from https://repository.mouau.edu.ng/work/view/survival-strategy-for-banks-in-nigeria-focus-on-budgeting-a-case-study-of-united-bank-of-africa-plc-lagos-7-2
NWADIUTO, OKORONKWO. "Survival Strategy For Banks In Nigeria Focus On Budgeting (A Case Study Of United Bank Of Africa Plc; Lagos) " Mouau.afribary.org. Mouau.afribary.org, 22 Jul. 2021, https://repository.mouau.edu.ng/work/view/survival-strategy-for-banks-in-nigeria-focus-on-budgeting-a-case-study-of-united-bank-of-africa-plc-lagos-7-2. Accessed 02 Nov. 2024.
NWADIUTO, OKORONKWO. "Survival Strategy For Banks In Nigeria Focus On Budgeting (A Case Study Of United Bank Of Africa Plc; Lagos) ". Mouau.afribary.org, Mouau.afribary.org, 22 Jul. 2021. Web. 02 Nov. 2024. < https://repository.mouau.edu.ng/work/view/survival-strategy-for-banks-in-nigeria-focus-on-budgeting-a-case-study-of-united-bank-of-africa-plc-lagos-7-2 >.
NWADIUTO, OKORONKWO. "Survival Strategy For Banks In Nigeria Focus On Budgeting (A Case Study Of United Bank Of Africa Plc; Lagos) " Mouau.afribary.org (2021). Accessed 02 Nov. 2024. https://repository.mouau.edu.ng/work/view/survival-strategy-for-banks-in-nigeria-focus-on-budgeting-a-case-study-of-united-bank-of-africa-plc-lagos-7-2