AN ASSESSMENT OF THE ROLE PRIMARY MORTGAGE INSTITUTIONS IN MORTGAGE FINANCING OF RESIDENTIAL PROPERTY IN ABUJA

AN ASSESSMENT OF THE ROLE PRIMARY MORTGAGE INSTITUTIONS IN MORTGAGE FINANCING OF RESIDENTIAL PROPERTY IN ABUJA

ABSTRACT

This study assesses the role of primary mortgage institutions in mortgage financing of residential property in Abuja. The specific objectives are: to determine the mortgage facilities offered by primary mortgage institutions, to examine the applications and approvals for purchase, rehabilitation and construction of residential property and to assess the role of primary mortgage institutions in mortgage financing of residential property in the study area. The researcher adopt the use of questionnaire, observation and personal interview to gathered relevant data from the respondents while tables, simple percentage and descriptive statistics were used for data presentation and analysis. The research reveals that online marketing business have a significant effects on real estate market in Abuja and therefore it should be encourage to cover all areas of real estate market such as estate agency, development, sales, and management of real estate property.  The research has shown clearly the problem of the mortgage industry in Nigeria which include: high interest rate tagged to PMI funded loans, the cumbersome process in the NHF application, the flexibility of interest rates on loans would also be of great interest to the mortgagors and would increase their interest in mortgage facilities given the assurance by PMIs that the interest rates are negotiable which creates additional costs and thus makes them un-affordable to many Nigerians. The following recommendations are presented for deliberation by the primary mortgage institutions and the mortgage industry as a whole: PMIs should be encouraged to improve their capital base in order to empower them for greater effectiveness in financing of residential property in Abuja.

CHAPTER ONE

1.0       INTRODUCTION

1.1       Background of the Study

The importance of housing finance in any economy cannot be overstressed. It drives the provision of housing which is more than shelter, since it involves all the services and utilities that make a community a livable one. Housing is also one of the best indicators of a person’s standard of living mid his or her status the society. In spite of the crucial role housing plays as a basic needs, it has remained inadequate in supply in practical all human societies’ right through history. An active and buoyant housing sector is an indication of a strong programme of national development. It serves a foundation for and the first step to the future economic growth and social development. The housing sector plays a more critical role in a country’s welfare than is always recognized as it affects not only the well being of the citizens but also the performance of the sectors in the economy.

Mortgage financing represents the genuine means of housing in the world’s developed economies and is also more of a challenge in developing countries. For example, United Kingdom has the largest mortgage market in Europe which is approximately 25% of the European market. In Mexico, the housing finance market is in a state of retrenchment, the macroeconomics environment has not been favorable to the development of primary mortgage market (Lea, 1996). The Mexican mortgage is highly segments with a verity of mortgage programs designed for different sectors.

In Nigeria, presently the mortgage sub sector accounts for >10% of Nigeria’s Gross Domestic Product which means that the opportunities that exist in this sector to boost the nation’s economy cannot be exaggerated. The federal mortgage bank of Nigeria puts an estimated over 10 million homes ‘as housing deficit in Nigeria; the implication of this is that with time the mortgage industry will also become large in the Nigeria capital market.

The mortgage industry in Nigeria involves few active players which are often banks subsidiaries and a collection of smaller inadequate mortgage institutions. These institutions include semi government agencies, mortgage banks and building societies. Mortgage financing has often been fingered as the most difficult constraints in the Nigerian housing sector. One of the major problem has been the inadequate supply of long term funds which represents the major in cans of providing mortgages. Thus, the system has relied on compulsory savings into National Housing Trust Fund (NTITF) scheme. As a result of this, effort has been made by the regulatory authorities in Nigeria to increase the supply of long-term funds for onward lending to prospective homeowners A few of these effort include the recent recapitalization of Primary Mortgage Institutions (PIvlls) in Nigeria, the pension and financial sector reform’s and the recently promoted Mortgage Backed securities on the future of investment return in the mortgage industry. This study is therefore set to conduct a thorough research into the Nigerian mortgage sector and the contribution of primal)’ mortgage institutions to housing finance in Nigeria.

1.2       Statement of Problems

There is shortage of adequate housing facilities in Nigeria towns. Lagos, for instance, has an average of 3.8 persons per room and extreme density ranging between 5 to over 7 persons per room has been recorded (Omirin , 1998). Housing problems are exacerbated by the combination of many factors. The bulk of traditional housing available in our urban centers are mainly in dilapidate conditions and unsuitable for habitation. Secondly, more houses are needed to relieve the existing overcrowding in many Nigeria urban centers. Thirdly, natural increase demand additional dwelling units to house the increasing population. Fourthly, rural- urban migration, which has assumed great dimensions during the last three decades, has aggravated housing needs of urban centers in Nigeria. In response to the great demand for houses, unplanned, and sub- standard private housing districts continues to emerge in many towns in Nigeria. These in turn led to emergence of slums. The Association of Housing Corporations of Nigeria estimated on the basis of the 2006 population census that at least 200,000 dwelling units should be provided annually throughout the federation and that government authorities should produce at least 10,000 housing units annually.

The provisions of Decree No. 3 of 1992 are intended not only to improve the operational impact of the housing financial system but also to ensure the realisation of the social economic objectives of the National Housing Policy. It has however, been observed that some of the provisions of the decree have not been sufficiently enlarged to give broad definitions to concepts such as Housing and Financing options. Other problems observed are the absence of Institutional Protection for providers of long term funds (depositors) are the lack of development of secondary markets for mortgages encourage investors and active market conditions within the sector in the Capital Market. This project intends to assess the role of primary mortgage institutions in mortgage financing of residential property in Abuja.

1.3       Aim and Objectives of the Study

Aim

The aim of this project is to assess the role of primary mortgage institution in mortgage financing of residential property in Abuja.

Objectives

To achieve the above set aim the following specific objectives shall be pursued:

1. To determine the mortgage facilities offered by primary mortgage institutions
2. To examine the applications and approvals for purchase, rehabilitation and construction of residential property
3. To assess the role of primary mortgage institutions in mortgage financing of residential property in the study area.
4. To evaluate the challenges of primary mortgage institutions

1.4       Research Questions

The following research questions shall guide the researcher in order to achieve the set objectives:

1. What are the mortgage facilities offered by primary mortgage institutions
2. What are the applications and approvals process for purchase, rehabilitation and construction of residential property?
3. What is the contribution of mortgage banks institution in housing provision in the study area?
4. What are challenges of primary mortgage institutions

1.5       Significance of the Study

This research assess the role of primary mortgage institutions in mortgage financing of residential property in Abuja. It appraises the mortgage facilities offered by primary mortgage institutions and the contributions of mortgage bank institution in housing provision in Abuja. The result of this study will relevant to property developers, investors and government authority as it will enlighten them on the contribution of primary mortgage institutions in financing housing provision and development in Nigeria.

The result of this research will contribute to the body of knowledge in provision of mortgage financing for housing development thus, will serve as research material for interested researchers who will like to further research into the contribution of primary mortgage institutions to housing provision.

1.6       Scope and Limitation of the Study

This project work covers entirely the role of primary mortgage institution in financing residential property in Abuja. The scope of this study is limited to the contribution of primary mortgage institutions in financing residential property in Abuja. .

Limitation

Its major limitation was the problem of getting information from the institution under study. There is always the fear of giving out information to the public as such, vital information needed was not readily available.

Time equally would not be left out; getting permission to leave school and the issue of finance cannot be ignored as much was spent in procuring materials. However, with fact and judicial use of the limited resources, reasonable analyses have been carried out in this research work.      

1.7       Definition of Terms

Mortgage: Cambridge English Dictionary define mortgage as an agreement that allows you to borrow money from a bank or similar organization, especially in order to buy a house, or the amount of money itself:

Finance: Merriam Webster define finance as money or other liquid resources of a government, business, group, or individual.

Institution: Institution is a structures or mechanisms of social order, they govern the behaviour of a set of individuals within a given community. Institutions are identified with a social purpose, transcending individuals and intentions by mediating the rules that govern living behavior.

Housing: Housing refers to houses or buildings collectively; accommodation of people; planning or provision of accommodation by an authority; and related meanings. The social issue is of ensuring that members of society have a home in which to live, whether this is a house, or some other kind of dwelling, lodging, or shelter.

Primary Mortgage: The primary mortgage market is the market where borrowers and mortgage originators come together to negotiate terms and effectuate mortgage transaction. Mortgage brokers, mortgage bankers, credit unions and banks are all part of the primary mortgage market.

ESTIMATION OF VITAMIN C CONTENT IN RIPE AND UNRIPE FRUIT (ORANGE AND PINEAPPLE)

ESTIMATION OF VITAMIN C CONTENT IN RIPE AND UNRIPE FRUIT (ORANGE AND PINEAPPLE)

ABSTRACT

The amount of vitamin C present in the sample of juice extracted from half ripe and ripe fruits of orange and pineapple was determined using standard analytical techniques. The vitamin C content of many fruit was higher when it was slightly immature and rephrases as the fruit hits its peak of ripeness for few such as orange and pineapple fruits, vitamin C content did rise with increased in ripeness. Fruits such as orange, pineapple lemon etc. contained a number of vitamin C that are used as supplement to treat everyday illness in human being.

CHAPTER ONE

1.0     INTRODUCTION

Fruits are divided into climatic and non-climatic classes on their respiration pattern during ripening. In non-climatic category are the grape fruit, lemon, orange, melon, pineapple and the strawberries. In these fruit, the respiratory pattern shows slow drift downwards after detachment from the parent plant while climatic classes undergoes a distinct ripening phage e.g bananas, pear and avocados. Ascorbic acid also know as vitamin c, when pure is a white crystalline water-soluble vitamin found especially in citrus fruits and vegetables. Ascorbic acid is the most abundant vitamin in orange, lemon, and grape. Fruit there is a considered variation in the ascorbic acid content of juice of different  fruits (groper 2005)

Vitamin c it the most important vitamin for human nutrition that is supplied by fruits and vegetables. It is a valuable food component because of its antioxidant and therapeutic properties.  (Fred 1966)

An accurate and specific determination of the nutrients content of fruits is extremely important to understand the relationship of dietary intake and human health. A wide variety of food exists that contains vitamin C. fruits, vegetables and organ meats are generally the best sources of ascorbic acid. For better utilization of fruits and vegetables as a human food, clear understanding of their nutritional value as well as the content of vitamin c estimation is essential. The amounts of ascorbic acid in plants varies greatly, depending on factors such as weather, maturity, handling and storage, ripening stage, species and variety of the fruits as well as temperature.

Vitamin C is an important anti-oxidant, helps to protect cancers, heat disease, stress etc. it is part of the cellular chemistry that provides energy. It is essential for sperm production and making the collagen protein involved in the building and health of cartilage joints, skin and blood vessels. Vitamin c helps in maintaining a healthy immune system. It aids in neutralizing pollutants, it is needed for anti-bodies production. It aids increase in the absorption of nutrients (including iron) into the gut and the blood (Levine et al, 1999).

It is important to the health and well being of humans. It works by stimulating the immune system and protecting against damage by the free radicals released by the blood in its fight against infection. It protects blood vessel integrity and elderly person may prevent cognitive impairment and possible stroke.

The amount of vitamin c needed by the body can be obtained from a diet which contains fresh fruits and vegetables that provides protection against cancer and heart disease.(Levine et al 1999).

Deficiency of vitamin c lead to scurvy, a disease characterized by sourness and stiffness of the joint and lower extremities rigidity, swollen and bloody gums and hemorrhage in the tissue of the body. If can also be characterized by fatigue muscular and bone pairs and depression. As the deficiency progresses there may be in wound healing and bleeding of the gums while brushing (Romero 1992) there may be enlargement of the hair follicles causing roughness of the skin, there may be anemia and possible pathological bone fracture due to failure of normal bone formation. Death results from pneumonia and cardiac failure (gale, 1995).

Pure vitamin c contains balanced of essential minerals; calcium; magnesium, potassium, and zinc. Most Americans are deficient in one or more of these key minerals due to stress ill health food processing toxic and factors (gale 1995).

ASSESSMENT OF THE CHALLENGES OF THE MANAGEMENT OF PUBLIC RESIDENTIAL PROPERTIES IN ENUGU, NIGERIA

ASSESSMENT OF THE CHALLENGES OF THE MANAGEMENT OF PUBLIC RESIDENTIAL PROPERTIES IN ENUGU, NIGERIA

ABSTRACT

This project work focuses on the assessment in the challenges of the management of public residential properties in Enugu, Nigeria. The objective of the study is to assess the strategies adopted in the management of public residential properties and the problems militating against its proper management. Relevant literatures were also reviewed to aid the study ranging from the concept of management to its functions. The researcher adopts the use of questionnaires and field survey in gathering relevant data required for the study. Data were also analyzed in tables using percentages. The findings of this project work revealed that, the profound and exacerbating managerial challenges in the estate is not just insufficient fund and changes of management but that of bureaucracy and  to top it all, policy and governmental changes as the major challenges that enfeeble the management of public Housing Estate. The strengthening of managerial capacity, provision of adequate fund to carryout regular maintenance without delay and redressing of political practices that undermine efficient management will go a long way in proffering solution to the above identified challenges.

CHAPTER ONE

1.0     INTRODUCTION

1.1     BACKGROUND OF THE STUDY

Public property management is emerging as a managerial science today (Kyle and Baird, 1995). It transcends beyond the role of rent collector (Li, 1997). Managing a residential property involves establishing goals, objectives and policies and implementation of strategies to achieve those goals and objectives.

Singh (1994, 1996) posited that residential property management is an activity that seeks to control interests in property owner and particular purpose for which the property is held. Wong (1999) considers residential property management as the work carried out to manage and maintain the development including its facilities at the level that will retain or enhance the value of the residential property, create a safe, functional and conducive living environment for occupants, keep or restore every facility in efficient working order and in good state of repair, and project a good appearance or image for the development. Ismail (1996) regards residential property management responsibility as including all the necessary making to ensure the economic and physical vitality of residential property assets.

The management of public estate assets particularly poses unique form of problems ranging from over inflation of invoices, corruption, nepotism, and awarding of contract works to contractors not knowledgeable about the jobs to be carried out. This array of issues and others, calls for monetization policy of the Federal Government, where all government properties are transferred to the private entities few years ago.

Many public property developments and their post-construction management are undertaken with the intent of accomplishing immediate social, economic, financial and aesthetic benefits or returns, but they are executed with minimal concern for sustaining these benefits thereafter (Ihuah and Fortune, 2013; Ihuah and Eaton, 2013). The sustainability of public estate projects after completion is a concern that should not be overlooked in the built environment since housing estates provide shelter to human beings. It is also one amongst the four basic human needs that harmonize the other basic needs through the opportunity of providing comfort, security and safety to people.

The public housing estates prominence is sustained with appropriate post-construction management and other beneficial sustainability issues are tackled with respect to the built environment, economic growth and enhanced development in a country (Ihuah and Eaton, 2013). Therefore, the imperative to ensure that public estates returns are continually accomplished and enjoyed by all stakeholders should be the objective for any development organisation to achieve.

The challenges be devilling management of public estates vary with different context and analytical perceptions. The problems of chronic financial crisis, poor maintenance, lack of manpower and strained relationship between public estates residents and the management has been mentioned by (Davidson 1999) as recurring themes of public estate management issues, while Okpala (1977), identified bureaucracy corruption.

This implies that, there is need to look at the management of existing Public Housing Estates in order to restore them back to habitable condition through regular management and maintenance so that the intensity building management becomes higher with its age especially in the face of climatic change and its negative and adverse effects on the building itself, the facilities and the physical environment for sustainable development.

This project work therefore, examines the management of public estate in Niger State with a particular interest in Zuma Housing Estate Suleja with a view to identify the challenges confronting the effective management practice suitable for the Estate and other public Estate in Nigeria.

Public estate management is also the management of government property, equipment, tooling and physical capital assets that are acquired and used to build, repair and maintain the public estate. Property management involves the processes, systems and manpower required to manage the life cycle of all public residential property as defined above including acquisition, control, accountability, responsibility, maintenance, utilization and disposition (Njoku, 2006).

According to Ebie (2012), duties involved in public property management generally will include a minimum of these basic primary tasks

1. The full and proper screening or testing of an tenants/applicant’s credit, criminal history, rental history and ability to pay.
2. Lease contracting or accepting rent using legal documents approved for the area in which the property is located.
3. Mitigation and remediation regarding any maintenance issues, generally within a budget, with prior or conveyed consent via a Limited Power of Attorney legally agreed to by the property owner.

There are many facets to this public property (estate) management, including managing the accounts and finances of the real estate/residential properties, and participating in or initiating litigation with tenants, contractors and insurance agencies. Litigation is at times considered a separate function, set aside for trained attorneys. Although a person will be responsible for this in his/her job description, there may be an attorney working under a property manager. Special attention is given to landlord/tenant law and most commonly evictions, non-payment, harassment, reduction of pre-arranged services, and public nuisance are legal subjects that gain the most amount of attention from residential property managers.

1.2     STATEMENT OF RESEARCH PROBLEM

According to Bello (2008), residential property is more than a mere shelter; it includes all facilities within and around it, embracing a bundle of services which entails both product and process. Management of public estate embraces in all ramifications the maintenance and development process, be it economic, social, physical). In fact, management of these properties has been subject of focus by researcher in recent times based on the cumbersome nature of the process. The problem of poor management of public estate is a global phenomenon and the severity of the problem differs from one nation to another and ranges from lacks adequate funding since it is tagged a government property, lack of routine inspection and unskilled management staff due to instability in management from the Government, changes in government, delay in carrying out maintenance work on the estate due to bureaucracy corruption and questionable character of staffs, Strained relationship between public estates residents and the management. e.t.c. However, the researcher seeks to evaluate the management of public estate in Niger state.

1.3     AIM AND OBJECTIVES

1.3.1  Aim

The aim of the study is to assess the challenges of the management of public residential property in Enugu, Nigeria.

1.3.2 Objectives

To achieve the above aim the following objectives will be pursued;

1. To examine the problems of public residential property management in Enugu.
2. To analyze the prospects of residential properties management in Enugu.
3. To examine the challenges confronting the effective management of public estate.
4. To identify and examine the strategies adopted in the management of public estate.

1.4     RESEARCH QUESTIONS

The following questions are very pertinent to the achievement of the objectives of this study.

1. What are the strategies adopted by the Authority concerned for the management of the public estate in the past?
2. How effective are these strategies?
3. What has been the level of maintenance in the Estate?
4. What are the problems of public estate management in Niger state?

1.5     SCOPE OF THE STUDY

The study addresses the assessment of the challenges of the management of public residential properties in Enugu, Nigeria and it is restricted to public residential properties in Enugu.

1.6     SIGNIFICANCE OF THE RESEARCH

Public residential properties requires maintenance in order to enhance their values and life span. After the development of public estate, the problem of management set in with few years of completion, other problems began if adequate and appropriate strategies are not employed.

This research will enlightens both government and the general public on the need to engage the services of professionals (Estate Surveyors and Valuers) in the management of public estate, so that the aim of developing such Estate will not be defeated.

The outcome of this study will educate the general public on the problems and prospects of managing residential properties in Nigeria emphasizing on its proper management and some other management challenges which will form a guide for estate managers in decision making.

This research will also serve as a resource base to other scholars and researchers interested in carrying out further research in this field subsequently, if applied will go to an extent to provide new explanation to the topic.

1.7     DEFINITION OF TERMS

MANAGEMENT: Allison (1967) defined management as the selection of goals and the planning, procurement, organization and control of the resources for their achievement.

MAINTENANCE: Lawal M. (2010) defined maintenance as the whole range of operation necessary to preserve a building with its finishes and fittings so that it continues to provide the same facilities and services which it did at its initial stage of development.

HOUSING: Housing extends beyond the concept of shelter. In the word of Abraham (1980) in his book “Housing in the Modern Market” it is not only shelter but part of the fabric of the neighborhoods life and the whole social milieu. It touches on many facts of industrialization, economic activities and development.

PUBLIC ESTATE: Are land and building owned and directly managed by public authorities and those rights of control which public authorities exercise over the estate of the private owners.

ESTATE: Udechukwu (2006) defined estate as “A legal entity denoting the character and quality of right that an individual or individuals possessed on a property.

HOUSING ESTATE: In the word of Essien G.A (2012) in his Lecture Note “An Approach to Property Development II (Vol. 3)”. “Is an area of land on which many houses are built either by private enterprise or by a public authority”.

DEVELOPMENT: Is the process of generating latent values in land or creating benefits there from by incurring on it costs in the form of labour, capital or management skill (Umeh, 1983).

PUBLIC DEVELOPER: Nathaniel (1979) cited that public developer deal directly  with government involvement in the provision of housing, public properties (Estate) are therefore owned, controlled and managed by Federal, State, Local Government and other public bodies which are set up and functioned under state and their aims is usually based on political, social and economic ground.

OBSOLESCENCE: Obsolescence is refers to as the wear and tear of the fabric of a building. It is a loss in the usefulness of a building and is a deficiency in design layout and equipment (Lawal M. 2010).

SLUM: Adetoro S.A and Mbazor D.N (2007) defined it as “An area of advanced blight condition usually requiring cleaning or re-building as the most effective corrective action. It can also be said to be a poor dirty crowded area in an urban area.

BLIGHT: Babatunde J. (1996) described blight as “Premature obsolescence and physical deterioration or other factors that has become undesirable for or impossible for normal development. Blight ranged from simple to complex.

1.7     STUDY AREA

Enugu State is in the South-east geo-graphical zone of Nigeria. It was created on August 27, 1991 with Enugu city as its capital.  The state derives its name Enugu (Hill Top) from the capital city which was established in 1909 as small coal mining town.

From Enugu the British administration was able to spread its influence over the southern Province of Nigeria. The Colonial past of Enugu is today evidence by the Georgian building types and meandering narrow roads within the residential area originally reserved for the whites, an area which is today called the Government Reserved Area (GRA.)

From being the capital of the southern Province, Enugu became the capital of the Eastern Region (now divided into nine States), and Capital of the defunct Republic of Biafra, thereafter it became the capital of East Central State, Anambra State, (old) Enugu State, and now the present Enugu State through a process of state creation and diffusion of administrative authority.

A traditional Enugu man is hospital, warm and enterprising. The State is predominately occupied by the Igbo ethnic group with some pockets of Igala speaking communities of Ette in Igbo-Eze-North LGA, Ogurugu and Ojjor in Uzo-Uwani LGA respectively.

Enugu State shares boarders with Abia State and Imo State to South, Ebonyi State to the east, Benue State to the northeast, Kogi State to the North West and Anambra state to the west.

The state is located in a tropical rain forest zone with humid climate. The mean daily temperature is 26.7 °C (80.1 °F). As in the rest of West Africa, the rainy season and dry season are the only weather periods that recurs in the State.

The State Government and the Local Government are the two levels of government in Enugu State as in all other states of Nigeria. Sullivan Chime is the current Executive Governor of Enugu State. He was first elected in April 2007 and was sworn into office on May 29^th, 2007. He recontested the position in 2011 and was re-elected. The governor has a group of commissioners, who oversee government portfolios such as Health, Housing, Education, works etc.   Both the governor and the commissioners form the Executive Council of Enugu State.  The seat of government is based at the Government House, Enugu.

There are 17 Local Government Area in Enugu State. These are Aninri, Agwu, Enugu East, Enugu North, Enugu South, Ezeagu, Igbo Etiti, Igbo-eze North, Igboeze South, Isi-Uzo, Nkanu East, Nkanu West, Nsukka, Oji-River, Udenu, Udi, Uzo-Uwani.

SECRETARY AND EFFECT OF NEW OFFICE TECHNOLOGIES ON RECORD KEEPING MANAGEMENT

SECRETARY AND EFFECT OF NEW OFFICE TECHNOLOGIES ON RECORD KEEPING MANAGEMENT

A CASE STUDY OF RAMAT POLYTECHNIC MAIDUGURI

ABSTRACT

This study examined the secretary and effect of new office technologies on record keeping and management. This research work is made up of five chapters with chapter one covering introduction, background of the study, statement of the problem, purpose of the study, research questions, significance of the study, limitation of the study and definition of terms. Chapter two deals with review of related literature, importance of the modern communication equipment, what is modern communication and general problem in the maintenance of modern communication equipment. Chapter three is concerned with research design and methodology, population of the study, sample size and sample procedure, description of instrument, method of data collection analysis. Chapter four covers data presentation, analysis and discussion of findings, the final chapter which is chapter five gives the summary and conclusion to the entire research work and makes possible recommendations on the contributions of modern communication equipment to job efficiency of the secretary.

CHAPTER ONE

1.0       INTRODUCTION

It is the view of many people all over the world, especially workers in an     organisation that a good secretary or office manager enhances workers’ productivity in an organisation. The study of secretary and effect of new office technology on record keeping and management has always been an important feature enhancing excellent managerial performances. New office technology such as information and communication technology is the life blood of every phase of business organisation. New office technology is the fusion of information processing techniques and the means by which the information is distributed. In other words, new office technology has to do with the acquisition, storage, processing and distribution of information usually through the use of radio, television, telephone, computers etc (Falaki 2002).

With sophisticated in technology, there is no doubt that we are not static. Our society today comprises much organisation both large and small in the private and public sectors of the economy with various objectives to achieve. The achievement of these objectives involves planning, decision-making etc. However, without information the organisation can neither plan nor take accurate decision on any issue.

According to Falaki (2002) the impact of information and communication technology has played a great role in changing workers attitude to work, in establishing efficiency and communication, increasing profits, create new job and effective mass education, business organisation would have been more complicated without having tools of information and communication Technology. Hence the need for information and communication products likes electronic mail, facsimile transfer, cable television, telex-text, electronic telephone and satellite communications or data transmission by means of laser technology. Through information Technology, one is able to watch on happenings thousands of kilometres away from one’s home or to transmit messages to distance quite far away within a seconds through satellite and internets. These technologies advancement, unmatched in the history of scientific invention and innovation have simply tuned the world into a huge global village.

Furthermore, Information is the heart and soul of any organisation and a very important asset to an Office Managers, so Information  and Communication Technology to any organisation is an easy access to determine whether the Office Manager is ready for the future or not. Conducting normal office work may be practically impossible for any standard office without the service of a well-trained Office Manager to ensure good administration and management.

The ability of any office managers to keep and preserve its organizational records properly determines the success of that organization. According to Harding (1990) record keeping entails the processing, arranging and storing of records so that they can be located when required. Records are very important to the organization; there-by the adherence to the strict rules governing the keeping of it by the officer or staff in charge in an organization is important. According to Reinhold and Carl (2013) the secret behind a successful organization is record keeping.

Secretary in this era of technological advancement needs new office technologies to help in record management in an organization as most organizational managers depend on records, whether in Private or Government offices where invoice, teller, memorandum, report, cheques, vouchers, and so many other things are found and used for decision making and other managerial responsibilities. These records are stored under different heading and kept for further usage. Thus the need to examined the secretary and effects of new office technologies on record keeping management in an organization with particular reference to Ramat Polytechnic Maiduguri.

1.1       BACKGROUND OF THE STUDY

The Ramat Polytechnic Maiduguri was established as Government Technical College in January, 1973 by the defunct North-Eastern State Government. The Technical College was upgraded and renamed Ramat College of Technology in April, 1978 by the then Borno State Government to immortalize the name of the late Head of State, General Murtala Ramat Muhammad.

In August 1979, it was again upgraded to the status of a Polytechnic in conformity with the Federal Government initiative to upgrade all Colleges of Technology in the country to Polytechnics.

The Polytechnic which is fully recognized by the National Board for Technical Education (NBTE) and the National Commission for Colleges of Education (NCCE) has six Schools which consist of thirty five (35) Academic Departments. The School system was introduced in 1982/1983 Academic Session with the following: School of Agriculture, School of Engineering, School of Environmental Studies, School of Management, School of Vocation and Technical Education and School of General Studies.

The Polytechnic offers full and part-time courses of instruction and training leading to National Diploma (ND), Higher National Diploma (HND), Nigeria Certificate in Education (NCE Tech and Bus) and other Certificates of distinctions in Scientific, Technological, Management and Engineering courses for the intermediate level  manpower requirements of the State and the nation in general. In addition, Remedial Programmes are run in Sciences and science-related courses for a year in the Department of Remedial Studies in order to prepare students for National Diploma courses.

The Polytechnic commenced Post Graduate Diploma through the Consultancy Unit in Management, Finance, Agronomy and Farm Management, Health Education and Hygiene and Education since 2003. All the programmes are affiliated to the University of Maiduguri.

Ramat Polytechnic, which started by admitting only 300 students in 1978, so far, about 70,000 students have graduated from the institution with National Diploma (ND), Higher National Diploma (HND), Post Graduate Diploma (PGD), Nigeria Certificate in Education (NCE Technical and Business), and Polytechnic Diplomas, Certificates and Assistant Executive Officer (AEO) Accounts.

1.2       STATEMENT OF THE PROBLEM

The shift from the manual to computerized forms of processing information has no doubt increased some problems that need to be stated. Some secretaries are still using the manual forms of information communication technologies and this has put them behind compared to others that use computer based facilities. This may be as a result of poor financial background or modified products that are being pushed into the market at a rate that they render three (3) months old software and hardware outdated. Secretaries would like to be complete in order to get his / her modern office technologies requirement without hitch, they will spend more money maintaining its system which may have adverse challenges on the performance of the business organisation. The competence of the secretarial staff of the Ramat Polytechnic Maiduguri have continuously been questionable in the recent past.This has remained a source of worry both for the management and the secretarial staff themselves.Reasons for this have been associated with the ineffective operation of the secretaries. The situation arouse the curiosity of the researcher hence the desire to study the secretary and effect of new office technologies on record keeping management in Ramat Polytechnic Maiduguri.

1.3       PURPOSE OF THE STUDY

The purpose of this study is to examine the secretary and effect of new office technologies on record keeping management.

The specific objectives or purpose of the study include:

1. Identify the new office technologies available to secretary in Ramat Polytechnic Maiduguri
2. To examine the effect of new office technologies on recording keeping and management in the study area.
3. To ascertain the challenges faced in the use of new office technology by secretaries in Ramat Polytechnic Maiduguri.

1.4       RESEARCH QUESTIONS

1. What are the new office technologies available to secretary in Ramat Polytechnic Maiduguri?
2. What are the effects of new office technologies on record keeping and management in Ramat Polytechnic Maiduguri?
3. What are the challenges faced in the use of new office technology by secretaries in Ramat Polytechnic Maiduguri?

1.5       SIGNIFICANCE OF THE STUDY

The findings of this study on be of great significance to the following stakeholders:

1. Office Secretaries / Managers:New office technologies helps an Office Manager to facilitate his/her worker; it also allowed Office Managers to communicate with the external bodies, processes information speedily. It saves times that an office manager can print and reprint document from the previous work.
2. An Organisation:To an organization such as Ramat Polytechnic Maidugurinew office technologies helps in keeping files, reducing the load on servers and networks. It also motivates staff to their job. Most importantly it reduces cost of material or stationeries wastages.
3. Educational institution:The use new office technologies such as Information Communication Technology in higher institution such as Ramat Polytechnic Maiduguri is used in checking student result, admission, and payment of school fees and online, thus enhancing record keeping and management
4. The Society:New office technologies has greatly impacted enhanced global socialisation and interactions. In fact, Information technology has taken over nearly every aspect of our daily lives from commerce (buying and selling) to leisure and even culture. Today, mobile phones, desktop computers, hand held devices, emails and the use of internet has become a central part of our culture and society. These technologies play a vital role in our day to day operations.

New office technologies has made global social and cultural interaction very easy. We now live in an interdependent global society, where people can interact and communicate swiftly and efficiently. News and information can now be transmitted in minutes. Individuals can easily stay in contact with members of their families who reside in other countries or make new friends across the world.

Examples of Information and Communication Technology (ICT) tools used for these purpose are; emails, instant messaging (IM), chat rooms and social networking websites, such as face book, Twitter, Skype, phones, cellular phones and similar applications.

ICT made a major contribution towards the elimination of language barriers; people speaking different languages can connect and socialize or trade in real time via the internet. This is made possible with the use of language translators.

1.6       LIMITATION OF THE STUDY

In the process of carrying out the study a number of limitations were experienced. These includes

Firstly, I faced in the course of this research is the nonchalant attitude of some respondents, this hampered the process and smoothness of data collection.

My effort to get full opinions on some of the interview. Some feel very much at ease to reserve their comments on some vital issues, information of which could have added more colour and weight to the findings of the study.

Some were afraid that it might incriminate them by answering some of the interview questions in spite of the fact that the purpose of the research was clearly made known to them by the researcher.

Another limiting factor was financial problem this also takes its toll on the need to travel out wide to other institution.

1.7       DEFINITION OF TERMS

SECRETARY: any personnel who is trained in the communication, shorthand and typewriting, storage and retrieval of information. A secretary is also seen as an assistant who possesses the mastering of files, skills on how to manipulate these new office machines in her place of work.

RECORDS: Writing information down for reference purposes or in other ways like on a disc, magnetic tape, etc.

TECHNOLOGY: Technology in this case means the modern way or technique for making and doing things. It is those activities directed to satisfy human needs which produce alternative as in the material world.

SKILL: Ability to do something expertly and well.

COMPUTER: is a device that works under the control of stored program automatically accepting, storing and processing data to produce information

OFFICE: this is any place where clerical and administrative duties like receiving information, sorting out information, acted upon records, execute, re-arranged, retrieved and kept for future reference.

ORGANIZATION: this is the arrangement of work with division of activities and with the allocation of duties, authority and responsibilities.

THE APPLICATION OF COMPUTER IN REAL ESTATE APPRAISAL

THE APPLICATION OF COMPUTER IN REAL ESTATE APPRAISAL

ABSTRACT

The use of computer as an electronic device have been embraced in all field of human endeavour ranging from banking, engineering marketing, construction with real estate appraisal inclusive. This paper is centered on the application of computer in real estate appraisal.    The computer is increasingly used by real estate appraiser for various purposes. The word processing software permits the appraiser to write up the individual property appraisal report. The same or different software permits the appraisal the appraiser to fill in appraisal forms with the requirement information that is found in the appraiser’s files and acquired from other sources. Computer spreadsheet software allows the appraiser to calculate multiple regression coefficients of correlation after data from the appraisers’ files is entered into the software. Blocks of residential single family are inserted into the program to see what housing characteristics have the most effect on the resulting appraised value. Property tax appraisers with a mass appraisal to accomplished actively use computer multiple regression models. At least part of the appraiser’s wealth of information that comes from a daily inflow of data from various sources may be filed in the computer database. The computer has become a necessity rather than a luxury or an occasionally used piece of office equipment.

INTRODUCTION

The typical professional appraisal of a generation ago would be flabbergasted by the inroads made by electronic media in the modern appraisal office. Even in the past ten years, the  manner in which appraisal data are accumulated and analyzed and the way that the appraiser’s estimate of value is transmitted to the client have undergone a transformation that is still ongoing. With the increasing availability and range of use of small, easily programmed office computer, the appraisers must be acquainted with a variety of appraisal-based computer applications. A few of these are highlighted below, with suggestions for the equipment necessary to keep pace with the developing electronic products.

THE COMPUTER: Even the smallest real estate or appraisal office can now take advantage of the computer’s storage and problem-solving capabilities. What kind of computer is best for the appraisal office? That depends on the nature of the appraisal work, the complexity of the assignments the appraisal will undertake, and the size of the appraiser’s budget.

It is best to tackle the question of what computer to buy by working backward; that is, the appraiser should begin by considering the requirements of the software that will be used in everyday practice. The appraiser may have already decided to buy one of the major appraisal software packages, which could cover everything from case tracking, including data collection and report preparation, to management of the appraisal office, including bill and staffing. Should the computer be “IBM-compatible” (One that meets the operating specifications designed for IBM, Inc., products, referred to as PCs, or personal computer). Macintosh computers are often favoured by design and publishing firms. There is excellent mac-based software available for the mot appraisal functions – for example, word processing, spreadsheets, databases, office management, communications, graphics, photo editing. Etc. There also are very sophisticated Mac programs for all the standard forms used for residential and general appraisaing; however, there are more choices of software vendors for the PC. The beginning appraiser should follow the recommendations of the managing appraiser who will be reviewing his or her work to ensure compatibility. Generally the new appraiser can be included under the managing appraisers’ current software license for a relatively small fee.

THE APPLICATION OF COMPUTER IN REAL ESTATE APPRAISAL

Most likely, the appraiser will need a modern, a computer – based telephone, to gain access to the wide range of information available on the internet. In addition, the appraiser may want to establish an electronic link to one or more lenders, which would require a computer with sufficient memory in addition to a modern capable of making such connections efficiently. Of course, the minimum capability required by today’s computer applications only establishes the baseline requirement for the appraisal office. The difficulty is in deciding how far beyong the minimum the appraiser should go.

Some state appraiser licensing offices, as well as the major appraiser societies, offer introductory classes or seminars in computer technology and application for the real estate appraisal. Because of the rapid development of more powerful computers, as well as new software to take advantage of the computer’s growing data-handling capabilities, attendance at one of these classes should be useful for the experienced computer users and the neophyte. The computer  hardware and software purchase decisions needn’t be made in a vacuum.

By seeking experts advice, and dealing with one of the major computer manufacturers, even the beginner can take most of the trauma out of the purchase decision. With the right information, the computer buyer should be able to invest in a system that will be adequate for three years of services. That means that the system should not only meet the appraisers’ immediate needs but be expandable to cover reasonably expected additions of equipment and software.

The most important features of the computer purchase will not be apparent until after a problem arises. Who is responsible for fixing the computer when something goes wrong, and where will the repairs be made? IF the computer system is purchase with an intended period of use of three years, the most desirable warranty or services contract will be one that provides for three years of on-site maintenance, to be performed within a stated time of the request for service. Such a warranty may require an additional fee, but will help reduce a major source of stress for the computer owner. After all, when an appraiser is relying on a functioning computer system to produce and transmit appraisals, a non functioning machine means that the appraiser is virtually out of business.

What price can the appraiser expect to pay for a system capable of handling all, of the operations mentioned above? That depends on many things: the systems motherboard, the command system, which determines how fast the system can operate; RAM, or random access memory, which determines how many operations the system can perform at the same time; hard drive memory, or data storage capacity; a monitor of adequate size and image definition; and the specifications of the modem, DVD/CD drive, and other peripherals. The good news is that prices continue to fail. Expectations are that this year’s system will have much greater speed and capacity and yet cost less than last year’s system. A basic “office suite” of software applications, including word-processing, spreadsheet, graphics, and mailing List capability, is likely to be included in the price of the basic system. The cost of appraisal-based software applications will depend on the appraiser’s needs and on how much time the appraiser is willing to spend searching for the best price available.

THE PRINTER

Today’s appraisal software not only allows a user to complete any of the numerous standard appraisal forms, it provides the form itself. The key to making a professional presentation is the quality of the printer used to print out the completed term. Given the dramatic drop in prices of laser printer, there is no substitute for a laser printer capable of producing six or more black-and-white pages per minute, at a resolution of 600 by 600 dpi (dots per inch). The price for such a machine used to be around S1.000, but they are now available for:$500 and up. A useful second printer is a color ink-jet machine that can produce more attractive renderings of photographs. It has become possible to purchase one for well under $500.

THE BACKUP SYSTEM

 As with any serious computer use, the appraiser should ensure that no data are lost in the event of a power failure or mechanical malfunction. The backup system properly consists of two components: (1) a battery (not just a power surge protector) to which the computer is connected to provide a secondary power supply – in essence, a cushion of time during which the computer can be shut down in the event of a power failure without loss of data and (2) a second computer memory (hard drive or cartridge), installed inside or outside the machine, that can b used (and refreshed periodically) to keep a copy of everything that is stored on the computer.  It should be possible to buy both components for a combined, price of less than N75,000.  Note: The backup system disk or cartridge should not be left in the machine or it will suffer the same fate as the main system in the event of power toss or malfunction. A final word of warning: During an electrical storm, it may be prudent to shut down one’s computer completely to avoid risk of data Loss. There is no backup system yet invented that will survive a direct hit, or even a near- miss, from a bolt of lightning.

THE INTERNET

 From its beginnings 40 years ago as a telephone-based method of computer information exchange for the military, what we now term the Internet has emerged as a major method of wor1dwde communication.

Efficient access to the resources available via the Internet requires a modern capable of transmitting 28,800 bps (bits per second) or better and subscription with a service provider that provides the initial access link. Once one is online (has gained access to the Internet), one can reach government, educational, and private sources of information around the globe. One can also be a recipient of communications in the form of electronic mail, referred to as e-mail.

Current predictions are that use of the Internet will only increase in coming years. Its use for appraisers is growing exponentially every year, as more and more data sources, including multiple listing services, provide online access to their databases. The number of government offices allowing access to public records is also growing. Information on national, regional, and local economic, employment, and other trends is readily available. There are a growing number of services specializing in data on various types of commercial and residential properties.

The cost of access to the Internet is surprisingly modest. Some Internet providers (such as America Online) provide their subscribers with access to numerous newspapers, magazines chat availability shopping, and other services at a base monthly rate for a specified number of hours of access to the service, with an hourly rate for each additional hour. Unlimited Service is available for a higher monthly fee, Other service providers provide access to the Internet, but no additional programming.

Geographic Information Systems (GIS)

 Satellite based mapping systems have been in use for as long as satellites have orbited the earth. From their initial military and weather technology based applications, mapping systems based on Latitude and longitude are now entering the commercial market place. The utility of the maps. Once available online from the United States Geological Survey (USGS), has been greatly expanded. Commercial services now provide (via computer disk or the Internet) reference maps that provide overlays of national, regional, and local data and are capable of incorporating the appraiser’s own data The cost of such maps will depend on the source and method of transmission.

Electronic data interchange (EDI).

The present trend toward consolidation of financial institutions has resulted in fewer users of appraisal services, particularly in the single-family residential mortgage loan marketplace. The lenders that now dominate the field arc moving increasingly toward the most direct method of communication of property valuation – electronic data interchange, or EDI. An electronic link between the lender and the appraiser via modem allows a computer in the appraiser’s office to transmit the required information almost instantaneously. Using EDI, the appraiser no longer needs to print hard copies of the report that includes the basis for the estimate of value. Now the appraiser enters the necessary information into the computer and then uses the computer’s modem to connect to the lender’s computer and relay all of the required information with the speed of a telephone call. The computer software that allows for such efficient transmittals must be customized to meet the lender’s requirement, but the lender may provide the software at little or no cost to the appraiser.

THE CAMERA

No modern appraisal office is complete without a digital camera that can be used to make and transmit images without the need for film or printed copy. The digital camera may be no larger than the typical 35-milimeter camera used in the past. It will have a view finder, lens, and built-in flash. Within the camera body, however, is a miniature version of a computer, capable of receiving images, recording them in digitized (computer-readable) format on a memory chip, and. releasing them to a printer and / or another memory device, such as a computer hard drive or disk. Once the images have been downloaded – that is, recorded and/or stored elsewhere – they can be erased from the camera’s memory which can then be used to record new images.

The digital camera uses no film and requires no professional processing. The number of images the camera is capable of recording and storing depend:; on the size (the amount of memory) of the chip inside. With a digital camera, the appraiser can import photographic-quality images directly to an appraisal report. If the report itself is transmitted electronically, the photos are incorporated within the report, to be viewed on the recipient’s computer monitor.

A digital camera with enough memory for hundreds of images (depending on the degree of resolution desired, with higher-resolution photos requiring more memory per image).

USE OF TECHNOLOGY:

In recent years there have been many references to use of “artificial intelligence’ in the appraisal process. The use of appropriate resources, including computers, can help an appraiser function more efficiently and more accurately, but these tools serve only as aids to the appraiser. There never will be a substitute for the skilled and informed judgement of a professional appraiser.

CONCLUSION AND RECOMMENDATION

The skills required of the professional appraiser touch on most areas of real estate practice. The best-qualified appraiser will have some at the abilities of the economist, city planner, surveyor, local estate developer, builder, and broker. Familiarity with appraisal-based computer applications is rapidly becoming a practical necessity however impartiality objectivity, knowledge of appraising fundamentals, and the quality of judgment that comes only with experience are the professional appraiser’s chief credentials.

The application of computer in real estate appraisal have contributed immensely to the efficiency and productivity of real estate appraiser and the estate survey and valuation profession. Therefore it pertinent for all valuers and estate firm to have access to this modern tools “Computer” and harness its enormous benefits so as to increase professionalism and productivity.

REFERENCES

Adair, Alastair, Mary Lou Downi (1996) European Valuation Practice. Theory and Technique. London. E & FN Spon, publisher.

Baum etal (1995) Property Investment Appraisal. 2^nd edition, London:  Routledge publishers.

THE EFFECT OF INFORMATION TECHNOLOGY ON SECRETARIAL EFFICIENCY

THE EFFECT OF INFORMATION TECHNOLOGY ON SECRETARIAL EFFICIENCY

CHAPTER ONE

1.0     INTRODUCTION

1.1     BACKGROUND OF THE STUDY

Since the beginning of writing language, societies have performed the administrative functions that today are called office work. Business transaction have been recorded, there has been writing oral communication, information has been stored and retrieved, calculations have performed, decisions have been made. The arrival of new technology changed the way these were performed. The invention of paper link and movable typewriter, a variety of mechanical and electrical devices had an impact. The typewriter and photocopying machine change written communication, and the early business computer changed how certain high-volume transactions were handled.

Despite the change they brought, none of these technologies fundamentally altered labour intensive character of office procedures and improved productivity yet typing continued to be highly labour intensive until automation typewriters and later, word processor were introduced.

Most offices now have an amazing array of electronic equipment, fax machine, mobile telephone and all manners of advanced telecommunication method combine to make communication very fast and very simple. Technology advances at an incredible speed, challenging the traditional roles in an organization.

In many ways the job is much easier. There is no pains tricking, retyping of letter and documents, when the boss changes his mind over a word; the word processor has provided the means of work to be changed quickly. It is far quicker to send a fax or an electronic message halfway across the world, knowing that it will arrive instantaneously without subjection to the vagaries of the mail.

These advanced technologies require set of skills and different secretaries have to understand computers, how they functions and how to make the best of them for efficiency and job satisfaction. The role of the secretary has expanded dramatically over the past twenty years as the technological evolution has made its impacts on the office and environment. With the advent of the electronic office and the changes it brings, today’s Secretary needs to be a centre on technology. Traditional duties have been enhance, the job has developed into a key role in the organization and the secretary now holds valuable position.

1.2     STATEMENT OF THE PROBLEM

The researcher realized that the office work and efficiency profession will continue to lose its vitality in producing famous and contemporizes professionals in the labour market if the training of modern secretaries does not met up with the challenges ahead.

In other words, the secretary cannot perform effectively, if not expose to the increasing technological advancement in Nigeria as follow: Performance may be impacted by vague expectations, barriers to access, medical conditions personal circumstances or job dissatisfaction. Determining the origins of unacceptable performance is the first step toward making necessary improvement. Following are typical factors that impact performance and options and resources and options and considered.

The quality of ventilation and air inside offices, schools, and other work places is important not only for their workers comfort but also for their health. Poor ventilation and air quality has been tied to symptoms like headaches, and irritation concentrating and irritation of the eyes, nose, throat and lungs. Also, many factors affect ventilation and air quality. These factors include poor ventilation (lack of outside air). Problems controlling temperature, high or low humidity recent remodeling, and other activities in or near a building that can affect the fresh air coming into the building. Sometime specific contaminants like dust from construction or renovation, mold, cleaning suppliers, pesticides, or other airborne chemicals released (including small amounts of chemicals released as a gas over) may cause poor indoor air quality.

Also Merriam –Webster dictionary defines the quality of being efficient as the “productive of desired effects, especially: productive without waste can efficient worker)”. When workers or organizations have problems in efficiency, success in the terms of profit and quality can be compromised. Most efficiency issue can be resolved by using quality control methods to create awareness of which main areas contain the weakest links. Many efficiency problems can be blamed on poor time-management issues. Also lack of efficiency in managing cash flow can cause insolvency, which can then lead to bankruptcy. Problems begin when companies face unanticipated expenses and loss any safety cushion, or when not enough money exists to expand the company or hire quality staff.

Finally, challenges for those who are unlearned or unskilled for jobs. However, in addition to some of the obvious disadvantages of unskilled workers, they do create some advantages.

1.3     PURPOSE OF THE STUDY

This is mainly to investigate the efficiency of information technology on secretarial profession using Federals Ministry of Science and Technology, Abuja as a case study.

Highlighting the new developments that have taking place on communication system. Having an insight in how these advancements on information technology will affect business organization in relation to productivity and profitability. To determine how skilful and knowledgeable the staff are in the use of information technology resources. And also to determine the challenges associated with the application of information in Federal Ministry of Science and Technology. Finally to determine ascertain the level of computerization/automation of Federal Ministry of Science and Technology

1.4     RESEARCH QUESTIONS

1. What is the efficiency of information technology on the secretarial profession?
2. What are the factors militating against the application of information technology in Federal Ministry of Science and Technology?
3. What is the usefulness of information technology in Federal Ministry of Science and Technology?
4. What extend has information technology been employed in federal Ministry of Science and technology?

1.5     SIGNIFICANCE OF THE STUDY

One of the significance of the project work is for effective functioning of office work in government organization taken the Federal Ministry of Science Technology to ensure efficiency in office operation.

Another significance of the study is enlighten employers who should do more than is supposed to do in office work. Also significance of the study is to training of modern secretaries will see why they have to be exposed the new technology in their institution of learning so as to blend with the labour market At graduation.

It is also to encourage office work to be more courageous and dedicated to their job. Finally, is to stimulate the purpose to go for office work course because its lucrativeness.

1.6     SCOPE OF THE STUDY

This research work is on the effect of information technology on secretarial efficiency on Federal Ministry of Science and Technology Abuja, as a case study.

THE ROLE OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) IN FRAUD DETECTION IN NIGERIAN BANKS

THE ROLE OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) IN FRAUD DETECTION IN NIGERIAN BANKS

(A CASE STUDY OF FIRST BANK OF NIGERIA ENUGU)

ABSTRACT

This research work aims at determining the role of information and communication technology in detecting fraud in the Nigerian banking system. The banking institution which has integrity and trust as its hallmark has been exposed to various forms of fraud and various means employed in defrauding banks. Fraud derails the society’s integrity and value among the committee of nations and in effect, affects the level of trust. The banking sector has been the cornerstone of economic and financial mainstay of any nation, hence the need for study of the role and the effectiveness of information and communication technology in fraud detection in the banking industry. First Bank of Nigeria Pie, Enugu metropolis was used as a case study. The research work treated the causes of fraud in Nigerian banks, forms of bank frauds, Effects and consequences of fraud in first bank of Nigeria plc, the information and communication technology and fraud detection in banks and Fraud control measures in banks. The methodology adopted in this study is the survey research design there were interactions with bank staff of various cadres with structured questionnaire to know their own opinion. 400 questionnaires were administered of which 320 were duly completed and returned. Some of the findings from the research work reveal that lack of staff motivation has an effect on the incidence of fraud in Nigerian banks. It also reveals that the introduction of ICT into the banking industry has reduced the incidence of fraud in Nigerian banks. Further findings reveal that the Nigerian banking laws are not adequate for fraud control in banks. Based on the findings of this study, recommendations made are the adoption of computer aids as tool for fraud prevention and control; banks should employ highly sophisticated security gadgets in their banks, like surveillance TV systems, on —the-spot photographing of customers etc. Proper reviewing of laws relating to fraud should be encouraged and stern penalties that commensurate with any offence committed should be embarked on.

CHAPTER ONE

1.1     BACKGROUND OF STUDY

Today’s business environment is very dynamic and undergoes rapid changes as a result of technological innovation, increased awareness and demands from customers. Business organisations, especially the banking industry of the 21st century operates in a complex and competitive environment characterized by these changing conditions and highly unpredictable economic climate. Information and Communication Technology(ICT) is at the centre of this global change curve. Laudon and Laudon, (1991) contend that managers cannot ignore Information Systems because they play a critical role in contemporary organization as it regards fraud detection in Nigerian banks.

Fraud is a global phenomenon,it is not unique in any sector of the economy or peculiar to Nigeria. The level of fraud in the present day Nigeria has assumed an epidemic dimension. It has eaten deep into every aspect of our life to the extent that a three year old child talks about yahoo mail or 419, newly discovered sobriquet for advanced free fraud that is hunting us as a nation. Nigeria, with all of its natural and human resources, tethers on the brink of destruction because of fraud. Much of what we do is “cutting leaves” instead of dealing with the root problem. Generally, fraud takes its root from the human heart. It is an axiom that the heart is deceitful above all things and is desperately wicked.

Fraud is the number one enemy of the business world, no company is immune to it and it is in all works of life, it is becoming predominant in the banking industry, as banks are now persistent targets of frauds. Nwankwo (1991)said that there is no where fraud is more serious than in banking. It is the biggest cause of bank failure. The fear is now rife that the increasing wave of fraud in the financial institutions in recent years, if not arrested might pose certain threats to stability and the survival of individual financial institution and the performance of the industry as a whole and no area of the economy is immune from fraudsters and even the banking system. Fraud if not checked might cause run on in the banking sector.

Fraud together with its sister white-collar crimes which came into being later in the 19th and 20th century interalia corruption, money laundering, tax evasion,externalization of foreign currency to itemize just a few have stood as potent weapons capable of hemorrhaging the entire world economies particularly the banking sector because of its high risk factor.Since fraud is carried out over a period of time, a minor one at the initial stage snowballs into a sizeable one over a period of time. However, the incidence of fraud has become a nightmare to the bankers who are particularly concerned,not only because it is on the increase, but also it acquires sophistication and tries outwitting every new technology. In the past years, cases of frauds in banks have been on the increase with each year recording staggering figures, even though most of the reported cases are essentially different types of fraud, An example is defrauding a bank using a genuine account of an employee who is the defrauder.Another one is through the use of fictitious account; also, fraud is carried out with the aid of an employee’s friend. Similarly this unholy act is sometimes done usingan account of a third party that depends on an employee-insider to perpetrate the act.

Fraud is a universal phenomenon which has been in existence for so long. Its magnitude cannot the security team designed to prevent it. Its management has become a central point in banking like the management of risk because of the above facts. Fraud and its management have been the precipitating factor in the distress of banks, and as much as various measures have been taken to minimize the incidence of fraud, it still rises by the day because fraudsters always device tactical ways of committing fraud. This has become a point of great attention in the banking sector as well as every organization in Nigeria.

Technology is invented by man to manipulate his social and physical environments. The sociology of science and technology made us to understand that, technology came with both manifest and latent intents. The manipulation of computer and other information and communication technology (ICT) to detect fraud in banks gives more insight into the manifest function of technological revolution. When computer was invented, the intention of its inventors is to hasten data processing with effortless ease. That it has been doing efficiently by giving timely and accurate information. The ability of computer to control manipulations,frauds, and forgeries continue to give the banking system the urge to upgrade their information communication technology (ICT) department. If not for the introduction of information communication technology system in Nigeria, fraud could have defeated the Nigeria banking industry. In this view, despite the introduction of the first banking ordinance in 1952 and central bank act in 1958including acts and ordinance with the amendments over the years to control and regulate the activities of the banks, fraud rather increased in size and thetechniques gained more sophistication.

The introductions of modern banking methods like automatic electronic gadgets;communication systems and computers; fraud has a watchdog to check its excesses. Due to forgery in cheques, bankers are extremely carefully when clearing them, and most times the forged cheques look authentic and the owner will have to confirm the signature on the cheque as his own. It is against this backdrop that this study seeks to evaluate the role of information and communication technology in Nigerian banks with special reference to First Bank of Nigeria plc.

1.2     STATEMENT OF THE PROBLEM

The enormity of bank frauds in Nigeria can be inferred from its value,volume and actual loss. A good number of banks’ frauds never get reported to the appropriate authorities, rather they are suppressed partly because of the personalities involved or because of concern over the negative image effect that disclosure may cause if information is leaked to the ban1cin’ public. The banks’ customers may lose confidence in the bank and this could cause a setback in the growth of the bank in particular.

Fraud leads to loss of money, which belong to either the bank or customers.Such losses may be absorbed by the profits for the affected trading period and this consequently reduces the amount of profit, which would have been available for distribution to shareholders. Losses from fraud which are absorbed to equity capital f the bank impairs the bank’s financial health and constraints its ability to extend loans and advances for profitable operations. In extreme cases rampant and large incidents of fraud could lead to a bank’s failure.

Fraud can increase the operating cost of a bank because of the added cost of installing the necessary machinery for its prevention, detection and protection of assets. Moreover, devoting valuable time to safeguarding its asset from fraudulent men distracts management. Overall, this unproductive diversion of resources always reduces outputs and low profits which in turn could retard the growth of the bank. It also leads to a diminishing effect on the asset quality of banks. This work therefore tends to look into how the Nigerian banks can use information and communication technology (ICT) to detect and minimize fraud.

1.3     OBJECTIVES OF THE STUDY

The main aim of this study is to find a practical means of detecting the incidences of fraud in Nigeria banks with the aid of information and communication technology. While specific objectives are:

1. To investigate whether the introduction of information and communication technology into the banking industry reduced the incidence of fraud.
2. To ascertain if lack of motivation contributes to incidence of fraud in FBN in particular.

1.3     RESEARCH QUESTIONS

1. How has the introduction of ICT into the banking industry reduced the incidence of fraud?
2. Has the introduction of information technology into the banking system reduced fraud in First bank?

1.5     HYPOTHESIS OF THE STUDY

1. Ho: the introduction of ICT into the banking industry reduced the incidence of fraud in Nigerian banks
2. Ho: the introduction of ICT into the banking industry reduce the incidence of fraud in First bank in particular

1.6     SCOPE OF THE STUDY

The research covers the First bank of Nigeria plc within the Enugu metropolis. The information used for the analysis covers the five years period between 2014 and 2018.In order to attain the objectives of this research, the scope of the study is defined to involve all relevant aspect of fraud in First bank operations. Information is obtained on the number of fraud cases perpetrated in First bank and their frequency, the effect it has on the bank, the persons involved,and causes of fraud and the level of effectiveness of the information and communication technology employed.

1.7     LIMITATIONS OF THE STUDY

The main limitations of the study are the uncooperative attitude of some staff of the bank taken into study, inadequacy of time and financial constraints.Some of those approached for information declined and refused to cooperate. This affected the volume of information available for the study. Again, limited time allocated for this research work did not provide room for accuracy and reliability of results.

1.8     SIGNIFICANCE OF THE STUDY

This study can be of importance to the banking industry at large, particularly the first bank of Nigeria because it will expose the fraud perpetuators which will be of interest to the management. It is also prepared for those who may be interested or willing in carrying out further investigation on fraud detection with special reference to first bank of Nigeria. It will throw more light on ways by which fraud can be detected and minimized with the aid of ICT the study will serve as a body of knowledge to be referred to by researchers.

1.9     DEFINITION OF TERMS

Bank: Section 41 of Nigerian banking act of 1969 defined a bank as an institution that carries on banking business and includes a commercial bank an acceptance house, discount house, financial institution and merchant bank.

Banking: the section defined banking as the business of receiving money from outside source as deposits perspective of the payment of interest or the granting of bills and cheques or the purchase and sale of securities for account of other or the incurring of the obligation to acquire claims in respect of loan prior to their maturity.

FRAUD: The act of depriving a person dishonestly of something which is his or of something to which he is or would or might be entitled, but for the perpetration of fraud.

BANK: Refers to a person or company carrying on the business of receiving money and collection of drafts from customers subject to their obligation of honouring cheques drawn upon them from time to time by the customers to the extent of the amount available in their current account.

THE EFFECT OF CONSUMER’S PERCEPTION IN MARKETING OF CONVENIENCE GOODS IN THE FEDERAL CAPITAL TERRITORY ABUJA

THE EFFECT OF CONSUMER’S PERCEPTION IN MARKETING OF CONVENIENCE GOODS IN THE FEDERAL CAPITAL TERRITORY ABUJA

ABSTRACT

This study examine the effect of consumer’s perception in marketing of convenience goods in the Federal Capital territory Abuja. specifically the study seek to identify the view of consumers towards marketing of convenience goods in the federal capital territory Abuja, ascertain the factors affecting consumer’s perception in marketing of convenience goods and determine the role of marketing of convenience goods on the buying behavior of consumers. In order to ensure accuracy, objectivity, clarity and ease of understanding, this collected data will be edited, interpreted and tabulated using percentage explanations and place them into table for easy comprehension. The instruments used for data analysis are simple percentage and chi-square. The simple percentage was used for data presentation and analysis, while chi-square was use to test the hypothesis. The result from the study indicate that the deceptive nature of marketing does not significantly affect consumer’s perception in marketing of convenience goods. It was discovered that a well-defined marketing of convenience goods will contribute immensely on consumer’s perception of convenience goods and their buying behaviour. There is a need for tailor made supervisor of its sales force distributors at all levels with a view of calling overhead expenses. For the purpose of creating, retaining and maintaining loyalty of actual potential customers. Hence there is need to adopt a well regulated form of its sales promotion activities.

CHAPTER ONE

INTRODUCTION

1.0       BACKGROUND OF THE STUDY

Marketing is any paid form of non-personal presentation and communication of ideas, goods and services by an identified sponsor to the general public. Nothing happens in the business until something is bought and sold. The saying goes that “in the word of commerce bringing the buyer and the seller together is the role of marketing or advertising”. In the same taken as in above marketing is needed to reach a wider market by making a favorable influence on the consumer buying behavior. The basic function of marketingis to communicate information about product or services, its features fill the communication link between the producers and the consumers. As one of the important elements of marketing communication mix, any business firm use a powerful strategy in supporting other marketing activitiesincreasing awareness and stimulating demand for a product which consequently result in appreciable returns in the total sales of the firm (Blackwell et al. 2006).

Marketing is obviously not a new activity to this modern society. It is an old practice that could be dated back from the binging of history. There are proves that indicates that signs were used in the ancient days to announce the coming of festivals, meetings, market days, death of important personalities, events and other useful information in the town. For example, people in the eastern part of Nigeria painted their walls with picture to announce the beginning of certain events. To understand the history of marketing and advertising, it is grouped into stages:

TRADE MARK:

Trade marks were used by early craftsmen who make certain products. Product could be sold except they carry the trade mark of the person that made them. From this one should know how trademarks acted as a sort of advertising for crafts men who were known for better quality product.

SIGNS

Early trade used signs for advertising purpose. Commercial message were printed by those trade to signify the product that were ready for sale. The painted message which might be different colours, it tells where exactly to buy a certain product without necessarily going round the town looking for where this product is sold.

TOWN CRIERS

The development of advertising is also traced to the use of town criers, people were paid to go round the town on the streets to announce the sales of products as well as informing people about important news and public events. This form of advertising is still practiced today in some of our villages in Nigeria and other countries.Today, advertising comes in different forms such as persuasive, informative, competitive, direct and indirect advertising e.t.c as a result of the advancement in sciences and technology, these include the radio, television, news papers, outdoors and direct mail advertising.

Advertising is an important element of the promotional mix and is a paid and non-personal form of presentation and promotion of ideas, goods or services by an identified sponsor. Most product advertisement messages are either informative, persuasive or meant to remind consumers of the need for them to sustain the consumption of the advertised product. Producers adopt several advertising media to reach both existing and prospective customers by influencing their perception, awareness, attitudes and ultimately their purchasing behaviour in order to maintain and expand their market and sales volume for their products. But for firms to succeed, they must have an understanding of why prospective consumers behave under certain conditions, and to know product attributes that consumers consider in influencing their purchase behaviour.

Adelaaret. al., (2003), reported that attitude-towards-the advert is the most influencing theory in advertising research which affects the consumer’s belief, and in turn influences the consumer to develop a specific attitude towards the good or service. Therefore, the aim of marketing is to create awareness and develop positive attitude towards the product in the mind of the consumers until they eventually purchase the commodity (Goldsmith and Lafferty, 2002).

Consumer perception involves the study of how people buy, what they buy, when they buy and why they buy. It blends the elements from psychology, sociology, socio-psychology, anthropology and economics (Bhattacharya & Sen, 2003). It also tries to assess the influence on the consumer from groups such as family, friends, reference groups and society in general. Consumers can either be subjective or objective, testing the persuasiveness of brand names. Retail stores selling convenience products also play an important role in swaying the decisions of consumers. With the increasing rise of marketing and e-shopping and its long-term potential in the retail industry, many players are interested in the changes that it will bring about. Furthermore, consumers may choose particular products/brands not only because these products provide the functional or performance benefits expected, but also because products can be used to express consumers’ personality, social status or affiliation or to fulfill their internal psychological needs, such as the need for change or newness. It also provides consumer more information and choices to compare product and price, more choice, convenience, easier to find anything online. This study examined the effect of consumer’s perception in marketing of convenience goods in the Federal Capital Territory Abuja – a case study of Nigeria Unilever Plc.

1.1       HISTORICAL BACKGROUND OF NIGERIA UNILEVER PLC

Unilever Nigeria Plc is a publicly listed company with trading and manufacturing interest in the consumer goods market. In 2014, it was listed among the top 20 most valuable companies quoted on the Nigerian Stock Exchange.

Unilever history in Nigeria dates back to 1923 when Robert Hesketh Leverhulme opened a trading post in Nigeria under the business name, Lever Brothers (West Africa) Ltd. The firm was primarily engaged in trading of soap and in 1924, the name was changed to West African Soap Company. Sensing opportunity in the country, the firm opened a soap factory in Apapa in 1925. The company later expanded into the production of food products, it opened a new soap factory in Aba in 1958 and changed its name to Lever Brothers Nigeria Limited in 1955. In 1960, Lever Brothers introduced Omo detergent into the market, the new product gained traction among buyers, prompting the firm to commission a factory to manufacture Omo detergents in 1964.

In compliance with the indigenization decree of 1972, Unilever became a publicly listed company in 1973, selling 60% of its shares to the Nigerian public. The company became a Nigerian owned firm. The change in equity ownership did not affect the firm’s growth. In 1982, the firm began producing edible products such as Royco, Blue band and Tree top in Agbara, Ogun State.

In addition, the company went through a period of mergers and acquisition; acquiring Lipton Nigeria in 1985 and later merging with Vaseline manufacturer, Chesebrough Products Industries in 1988. During this period, the company embarked on a backward integration scheme in order to source its raw materials locally. This business decision led the company to invest in crop production and oil palm milling. The company also invested in a tea plantation in Mambilla to provide raw materials for Lipton.

In 1995, Lever Brothers, 40% owned by Unilever merged with Unilever Nigeria Limited, a subsidiary of the Unilever U.K. The merger gave Unilever control of the newly merged entity, this was the first time since the indigenisation decree was scrapped that a multinational will have majority equity in a quoted Nigerian company.

Unilever Nigeria Plc is involved in the manufacturing and marketing of foods and food ingredients as well as home and personal care products. The company has manufacturing plants in Agbara, Ogun State and Oregun, Lagos State.

1.2       STATEMENT OF PROBLEM

Marketing of convenience goods which are those goods that the customer purchases frequently, immediately, and with minimum effort calls for creation of awareness by educating and enlighting customers about a firm product. This will enable the firm to match competition in the market place. It as well enable firms to create enabling relationship with their present customers by reminding them about the firms offering.

However the story is not encouraging after taking a look at the current mode of marketing in the market place with respect to consumers’ perception about the marketing process. Marketing or advertising tends to discourage most customers today as most firms employ the use of deceptive message/nature, it leads to impulse buying and it also gives room for offensiveness. Consequently any firm that fails to consider the above listed problems will definitely face the following challenges: it will not be able to match competition, it will lose customers and it will also witness low market share.

1.       OBJECTIVE OF THE STUDY

The general objective of this study is to examine the effect of consumer’s perception in marketing of convenience goods in the Federal Capital territory Abuja.

At the other hand, the specific objectives are:

1. To identify the view of consumers towards marketing of convenience goods in the federal capital territory Abuja.
2. Ascertain the factors affecting consumer’s perception in marketing of convenience goods
3. To determine the role of marketing of convenience goods on the buying behavior of consumers.

1.4       RESEARCH QUESTIONS

1. What are the views of consumers towards marketing of convenience goods in the federal capital territory Abuja?
2. What are the factors affecting consumer’s perception in marketing of convenience goods?
3. What are the role of marketing of convenience goods on the buying behavior of consumers?

1.5       STATEMENT OF HYPOTHESES

            HYPOTHESIS I

H0: The deceptive nature of marketing does not significantly affect consumer’s perception in marketing of convenience goods

H1: The deceptive nature of marketing does not significantly affect consumer’s perception in marketing of convenience goods

            HYPOTHESIS II

H0: Marketing of convenience goods have no significant effects consumers buying behavior.

H1: Marketing of convenience goods have significant effects consumers buying behavior.

1.6         SIGNIFICANCE OF THE STUDY

The significance of the study is to examine critically the effects of consumer’s perception in marketing of convenience goods in the Federal Capital Territory Abuja with particular references to Unilever Nigeria Plc.

The study will also encourage managers of organization and guide the company or organization and its potential consumers with the perceptions of consumer views towards marketing of the company’s products and how it affects consumer buying behavior.

Finally this research work research work will be of tremendous importance to the researcher since it is a partial requirement for the award of Higher National Diploma (HND).

1.7         SCOPE OF THE STUDY

The study covers the theoretical issues of consumers perceptions in marketing of convenience goods. This study is limited to Unilever Nigeria Plc Abuja, the Federal capital Territory.

1.8       LIMITATION OF THE STUDY.

The scope of the study was limited due to the following:

1. Most company documents are kept in top secret and as such very vital portion of information may not be disclosed. There agree information may only prove inadequate for a project of this kind.
2. Finance: due to non-availability of funds to undertake research to the fullest satisfaction the questionnaire administered are few for the respondent.
3. Time: the time allocated for this research work was not enough as a result of that the researcher could not covers as much as expected due to time constraint.

1.9       DEFINITION OF TERMS

CONSUMERS: is an individual who buys products or services for personal use and not for manufacture or resale.

MARKETING:It is a social and managerial process by which individuals and groups obtain what they want through creating, offering and exchanging product of value with others.

MARKET: Refers to the group of customers or consumers organizations that is interested in the product, has the resources to purchase the product, and is permitted by law and other regulations to acquire the product.

CONSUMERS BEHAVIOR: It is the study of how individuals, consumers, groups or organization select buy, use  and dispose ideas, good and services to satisfy their needs and wants.

ADVERTISING: it is any paid form of non – personal presentation and promotion of ideals goods and services by an identified sponsor.