EQUIPMENT LEASING EFFECT AND PROSPECT A CASE STUDY OF ACCESS BANK, ILORIN, NIGERIA
TABLE OF CONTENT
TITLE PAGE i
TABLE OF CONTENT v
CHAPTER ONE; INTRODUCTION
1.1 Historical Background of the Study 1
1.2 Statement of the Problem 2
- Objective of the Study 3
1.4 Plan of the Study 4
1.5 Significance of the Study 4
1.6 Scope of the Study 5
1.7 Definition of Term 5
1.8 Statements Hypothesis 7
1.9 Research Question 8
CHAPTER TWO; LITERATURE REVIEW
- Types and Structure of Lease in Nigeria 9
- Advantages of Leasing 23
- Disadvantages of Leasing 26
- Source of Lease Financing 28
- How to Negotiate Leasing 30
- Computation of Lease Renter 31
- Types of Lease Contract 31
- Termination of Lease Contract 33
CHAPTER THREE; RESEARCH METHODOLOGY
3.1 Source of Data Collection 34
3.2 Sampling Method and Size 36
3.3 Methods of Data Collection 37
CHAPTER FOUR; PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA COLLECTED
4.1 Data Presentation 39
4.2 Data Analysis 39
4.3 Interpretation of Data Collection 40
CHAPTER FIVE; SUMMARY, RECOMMENDATION AND CONCLUSION
5.1 Summary 48
5.2 Conclusion 50
5.3 Recommendation 51
1.1 HISTORICAL BACKGROUND OF THE STUDY
Access Bank Nigeria Limited was licensed as a commercial bank in December, 1988 and opened its door to customers on May 11th, 1989. The bank started business from 4 Buma Road in Apapa, Lagos State. Its formal corporate head office with an authorized share capital of #20million. The share later increased to #70million and of this amount, #58million has been paid up. The bank’s ownership is spread amongst reputable Nigerian business men and professionals whose business interests covers a wide area. The experiences of the shareholders are put to the use by the bank through a seven members board located by Chairman Mr. Ayo Oni, while the board oversees the affairs of the bank, the day to day management of the bank resides with the Management Director/Chief Executive, Mr. Lyke Aigboye Imoukhers as astute banker with 18years banking experience. The bank turned and assisted by a corps of seasoned professionals with various backgrounds in banking and related specialization.
As a result from Apapa and Board Street, the bank also has branches at: Ilorin, Lagos, Osun, Ikeja, Abuja etc.
The banks products and services are conveniently packaged to meet the particular needs of its numerous customers since the customers represent an important local point in its service delivery objection. Specialized products like Herfund facilities, SME/Loan facilities and exports and agricultural credit as well as high yield deposit account are given emphasis with the bank range of services.
1.2 STATEMENT OF THE PROBLEM
The bank has encountered many problems in the contrite of leasing. The problems are traced to the economic solution of the nation, the problem encountered easing as well as locking of e from lesses and shortage of expected in equipment leasing as well as locking expert in handling the equipment based
Erratic and frequent charges in fiscal and monetary policy also constitute the problem faced by the bank.
The depreciation of asset constitute to this difficulty faced in equipment leasing.
The problem of repossession of foreign located leased equipment due to legal and enforcement differences.
High duties on imported equipment.
1.3 OBJECTIVES OF THE STUDY
The research work is carried out by going to all potential reader or users that understand lease. It’s importance towards the social economic advancement and development of the country
It also has it’s objective to appraise the development of equipment leasing the benefits and disadvantages [if any] in Nigeria.
In addition, it’s constants towards development, the effect of legislator [if any] and the referred suggestion for the improvement of leasing in the country.
1.4 PLAN OF THE STUDY
This project has been properly designed and segmented into five chapters. In which it focuses its attention on the major areas of equipment leasing, effects and prospects with consideration of the Access Bank Ilorin, Nigeria. Firstly, and foremost, the maiden chapter covers the short introduction of the project, historical background of the case study, statements of the problem, significance of the study, scope and limitation of the study, definition of the key terms, statements of the hypothesis and research questions.