International Business Management

Year: 2016
Volume: 10
Issue: 22
Page No. 5341 - 5351

The Impact of Banks’ Activities on Economic Development in Nigeria

Authors : Olokoyo O. Felicia, Taiwo N. Joseph and Akinjare A. Victoria

Abstract: This study investigates the impact of Deposit Money Banks’ (DMBs) activities on economic development in Nigeria. The study aims at establishing the underlying factors of banks’ activities that influence economic growth. A structured questionnaire was used to elicit information from the respondent in banks in Nigeria. The data gathered were analyzed using SPSS (Statistical Packages for Social Sciences) to generate frequency percentages and also run tests using One sample Test and Anova. After thorough analysis of data collected, from the findings it was observed that Deposit Money Banks (DMBs) activities do have a significant impact on economic development in Nigeria. Thus it can be concluded that banks activities play a major role in the economy. It was therefore recommended that banks should improve on the mobilization of resources and how such resources are allocated. This would help them in pricing and trading off risk, channeling of fund and also in effective implementation of monetary and fiscal policies.

How to cite this article:

Olokoyo O. Felicia, Taiwo N. Joseph and Akinjare A. Victoria, 2016. The Impact of Banks’ Activities on Economic Development in Nigeria. International Business Management, 10: 5341-5351.

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