The Impact Of Infectious Epidemic On The Banking Industry A Case Study Of Corona Virus Disease

TABLE OF CONTENTS

Title page       –           –           –           –           –           –           –          –           –           –           i

Declaration                –           –           –           –           –           –           –           –           –           ii

Certification   –           –           –           –           –           –          –           –          –           –           iii

Dedication                  –           –           –           –           –           –           –           –           –           iv

Acknowledgement     –           –           –           –           –           –          –           –           –           v

Table of content        –           –           –           –           –           –          –          –           –           vii

List of tables  –           –           –           –           –           –           –           –           –           –           x

Abstract         –           –           –           –           –           –           –           –          –           –           xi

 

CHAPTER ONE: INTRODUCTION

1.1. Background to the study –           –           –           –          –          –           –           –           1

1.2. Statement of problem   –  –           –           –           –          –          –           –           –           2

1.3. Objectives of the study    –           –           –           –           –          –           –           –           3

1.4. Research questions           –           –           –           –           –            –          –           –           4

1.5. Research Hypothesis        –           –           –           –           –           –           –           –           6

1.6. Significance of the study –           –           –           –           –          –           –           –           4

1.7. Scope of the study           –           –           –           –           –           –           –           –           5

1.8. Operational definition of terms   –           –           –           –            –          –           –           6

1.9. Organization of the Study           –           –           –           –           –           –           –           6

 

CHAPTER TWO: LITERATURE REVIEW

2.1.   Introduction                   –           –           –           –           –           –           –           –           8

2.2.   Conceptual Literature                –           –           –           –           –           –           –           8

2.2.1. Bank      –           –           –           –           –           –           –           –           –           –           8

2.2.2. Coronavirus Disease (COVID-19)       –           –           –           –           –           –           14

2.2.3. Coronavirus Disease (COVID-19) Nigeria Case          –           –           –           –           15

2.3.    Reviews of Empirical Studies   –           –           –           –           –           –           –           16

2.4.   Theoretical Review        –           –           –           –           –           –           –           –           19

2.4.1. The infectious disease causation theory            –           –           –           –           –           19

2.4.2. The infectious disease transmission mechanism theory            –           –           –           20

2.4.3. The financial intermediation theory of banking            –           –           –           –           22

2.4.4. The fractional reserve theory of banking          –           –           –           –           –           23

2.4.5. The credit creation theory of banking               –           –           –           –           –           23

2.5. Theoretical Framework                –           –           –           –           –           –           –           24

 

CHAPTER THREE: RESEARCH METHODOLOGY

3.1.   Introduction –     –           –           –           –           –           –           –           –           –           27

3.2.   Research Design –          –           –           –           –           –           –           –           –           27

3.3.   Population of the Study –           –           –           –           –           –           –           –           28

3.4.   Sampling Size    –           –           –           –           –           –           –           –           –           28

3.5.   Sampling Technique       –           –           –           –           –           –           –           –           29

3.6.   Instrument for Data Collection  –           –           –           –           –           –           –           29

3.7.   Method of Data Collection        –           –           –           –           –           –           –           30

3.8.   Validity/Reliability of Instrument         –           –           –           –           –           –           30

3.8.1. Reliability test   –           –           –           –           –           –           –           –           –           31

3.9.    Method of Data Analysis         –           –           –           –           –           –           –           33

 

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1.   Introduction       –           –           –           –           –           –           –           –           –           34

4.2.   Data Presentation/Analysis        –           –           –           –           –           –           –           34

4.3. Testing of hypothesis       –           –           –           –           –           –           –           –           40

4.3.   Discussion of Findings  –           –           –           –           –           –           –           –           42

 

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1.   Introduction       –           –           –           –           –           –           –           –           –           45

5.2.   Summary            –           –           –           –           –           –           –           –           –           45

5.3.   Conclusion         –           –           –           –           –           –           –           –           –           46

5.4.   Recommendations         –           –           –           –           –           –           –           –           47

5.5.   Limitations to the Study                        –           –           –           –           –           –           –           48

5.6.   Suggestions for Further Studies                        –           –           –           –           –           –           48

 

REFERENCES        –           –           –           –           –           –           –           –           –           49

 

APPENDIX   –          –           –           –           –           –           –           –           –           –           51

 

 

 

 

LIST OF TABLES

Table 1 Sex of Respondents   –           –           –           –           –           –           –           –           34

Table 2 Age distribution of Respondents       –           –           –           –           –           –           34

Table 3 Marital status of respondents             –           –           –           –           –           –           35

Table 4: Respondents views on whether they have heard of coronavirus disease     –           35

Table 5: Respondents views on how they heard of COVID-19        –           –           –           36

Table 6: Respondents views on how they rate the level of coronavirus disease in Nigeria as

compared to other countries of the world                  –           –           –           –           36

Table 7: Coronavirus disease has effect on the banking industry in Nigeria –           –           37

Table 8: Respondents views on whether Coronavirus disease has stand as a hinge to the smooth

running of banking activities in Nigeria          –           –           –           –           –           38

Table 9: Test of Hypothesis I  –           –           –           –           –           –           –           –           40

 

 

ABSTRACT

This research work empirically explored the impact of infectious epidemic on the banking Industry a case study of corona virus disease. The objectives of this study were to examine the level of coronavirus disease in Nigeria, investigate the impact of coronavirus disease on banking transactions in Nigeria. The scope of the study is banks in Nigeria, The infectious disease transmission mechanism theory was used as a framework. The research design used for this study is survey, the population targeted for this study consists of all first bank across the country.  40 first bank branches including the headquarter were used as sample size and cluster sampling technique was applied. Instrument used for this study is the questionnaire. Data collected were collected from primary sources. From the analysis of the data, the findings shows that the level of coronavirus disease in Nigeria is average, coronavirus disease has effect on the level of banking transactions in Nigeria. Following the findings, it was recommended that measures should be devised to curb the spread of the virus and vaccine created so as to prevent further hinge on banking activities, banks should devise a means to function as normal even if it entails making use of online means. The study concludes that coronavirus disease has a negative effect on the banking community.

Keywords: coronavirus disease, banking industry, Nigeria.

 

 

 

 

 

CHAPTER ONE

INTRODUCTION

1.1. Background to the Study

The banking industry in Nigeria have little ammunition with to deal with the COVID-19 pandemic. Government of Nigeria is forced to balance the health of their citizens with economic stability and their own debt. After more than a decade of unprecedented economic growth, the world is facing another global economic recession. In the past week, Nigerian government have been introducing aid programmes to ease the economic pressure brought about by the COVID-19 outbreak and the inevitable economic downturn that will follow.

Controlling the spread of influenza to reduce the effects of infection on a population is an important mandate of public health sector and the government of any nation. The Nigeria private sector and the banking Industry get affected. Coronavirus disease 2019 (COVID-19) is a respiratory illness that can spread from person to person. The virus that causes COVID-19 is a novel coronavirus that was first identified during an investigation into an outbreak in Wahan China. COVID-19 is spreading from person to person in China and limited spread among close contacts has been detected in some countries outside China including Nigeria. There is presently no vaccine to protect against COVID-19 and there is no specific antiviral treatment for COVID-19.

Although banks are not being hit by the novel coronavirus disease as directly as other institutions, they are at the forefront of public attention. Banks sit at the heart of the economy and provide funding to corporate and individuals. Their stability is crucial to keep the system up and running. Individuals are being placed on quarantine or lockdown, as a result, the ability to carry out banking transactions is limited. Also business loans, especially to small and medium enterprises are at risk due to forced shutdown.

Generally, banks have started waiving fees, granting loan payment holidays due to directives from government. However there is need to reassess the risk profile of their customers. If the COVID-19 crisis lasts longer, this option will increasingly become untenable. Unless the government steps in and forces a moratorium on debt else banks will begin to struggle.

This study, therefore, is posed to assess the impact of Infectious epidemic on the banking industry a case study of corona virus disease.

 

1.2. Statement of the Research Problem

The human health state is considered the most critical to any country survival of a truism that healthy population bring about the desired goals. The Coronavirus disease 2019 (COVID-19) discovered in 2019 spread from person to person. The first case of COVID-19 in Sub-Saharan Africa has been confirmed in Nigeria.

From evidence available to us, COVID-19 is presently in Nigeria,

The patient who first brought it to Nigeria is an Italian citizen who works in Nigeria and flew into the commercial city of Lagos from Milan on 25 February 2020. (BBC News, 2020).

Globally, more than 800,000 people in nearly 150 countries have been infected. Over 45,000 have died, the vast majority in China’s Hubei province, Italy and Spain. In Nigeria 2 death has been recorded and over 150 infected.

In Nigeria, the ability to contain this virus also lie within the help of the populace in complying with the directives of the government. It is against this background that the researcher considered the study of the impact of infectious epidemic on the banking Industry a case study of corona virus disease.

 

1.3. Objectives of the study

The aim of this study was to investigate the impact of infectious epidemic on the banking Industry a case study of corona virus disease. The specific objectives are to:

1. examine the level of coronavirus disease in Nigeria.
2. investigate the impact of coronavirus disease on banking transactions in Nigeria.

 

 

1.4. Research Questions

This study will be guided by the following research questions:

1. What is the level of coronavirus disease in Nigeria?
2. What is the impact of coronavirus disease on banking transactions in Nigeria?

 

1.5 Research Hypothesis

The study is guided by the following hypothesis:

H₀:     There is no significant relationship between coronavirus disease and banking industry.

 

1.6. Significance of the Study

The study will enable relevant agencies concerned with eradicating COVID-19 in Nigeria to know the implications of coronavirus disease on the banking industry. Empirically, this study is carried out to investigate the impact of infectious epidemic on the banking Industry. This study will be of utmost importance to investors, government and the researchers because it will provide policy recommendations to the various Nigeria stakeholders taking adequate measures in the banking industry for rapid capacity investment.  The changing character of the banking industry has affected the industry in recent times and will push studies on the impact of infectious epidemic on the banking Industry to new evidence(s). It will contribute to existing literature on the subject matter. This study will be of benefit to;

The Academia: members of the academia will find the study relevant as it will also form basis for further research and a reference tool for academic works.

Government: this study will reveal to the government happenings in the industry. Formulation and implementation of policies based on this findings would ensure development in the industry.

Investors: this study shall also be valuable to the investors especially those who may have research interest as it shall guide their private investment decisions.

 

1.7. Scope of the Study

This study is intended to examine the impact of infectious epidemic on the banking Industry a case study of corona virus disease with particular emphasis on First bank of Nigeria in 2020. The study covers first bank of Nigeria across the country.

 

1.8. Operational Definition of Terms

The following terms have been defined operationally.

• Epidemic: a widespread occurrence of an infectious disease in a community at a particular time.
• Disease: a disorder of structure or function in a human, animal or plant especially one that produces specific symptoms or that affects a specific location and is not simply a direct result of physical injury.
• Infectious: (of a disease or disease-causing organism) liable to be transmitted to people, organisms, etc. through the environment.
• Bank: a bank is a financial institution that accept deposits from the public and creates demand deposit. Lending activities can also be performed.
• Industry: an industry is a sector that produces goods or related services within an economy.

 

1.9. Organization of the Study

This study is divided into five chapters. Chapter one is introduction which consists of the background to the study, statement of problem, research questions, research  hypotheses,  objectives  of  the study, the  significance  of  the  study,   the scope  and  limitations  of  the  study  and  finally the  organization of the study. Chapter two deals with the literature review which consists of the conceptual literature, theoretical literature, empirical literature, theoretical framework. Chapter three gives the research methodology including research design, population of study, sample size, sampling technique, method of data collection, instrument of data analysis, method of data analysis, validity/reliability of instrument.  Chapter four is presentation and analysis of data, discussion of findings. Chapter five gives the summary, conclusion and recommendations.

 

 

 

CHAPTER TWO

LITERATURE REVIEW

2.1 Introduction

The chapter deals with literature review on the concept of the impact of infectious epidemic on the banking Industry a case study of corona virus disease. This involves various definitions of bank, COVID-19, Nigeria case of COVID-19, the review of empirical studies, theoretical review and theoretical framework.

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