ABSTRACT
The urgent need to establish a financial institution that will carter for the development of various sector of the African economy brought about the emergence of the African development bank. Also when the African government realized that the central bank are commercial banks could not provide bring financial developmental services, the development banks were specially established to bring the gap.
The objective of the research is to appraise the activities of ADB and highlight the efforts that ADB plays in acceleratory the economic development in Nigeria and African in general.
The study examined the banking history the evaluation of mechanism of credit from the civilization of antiquity to its organization as in banking toclary was examined.
Thus the researcher recommends among others that capital of the bank be increased by regional members and should cease from tending to countries who persistently refuse to pay their debt.
CHAPTER ONE
THE ROLE OF AFRICAN DEVELOPMENT BANKS IN NIGERIA ECONOMIC DEVELOPMENT
1.0 INTRODUCTION
Economics development has always constructed a major concern of most of government in both development and developing countries.
In achieving this economic development, the setting up of financial institution is always the first step to be taken having recognized the importance of finance in economic development.
The mainstream business of banking enterprise retune banking and practiced by specialist institutions. While these categories of banks share a common role of facilitating the mobilizational conversion of resource into invertible funds they differ in their economic objective and investment policies. Where as the commercial and merchant banks are propelled and sustained in the investment activities in the drive towards profit maximization for the benefit of a social subgroup comprising shareholders, worker creditors and associated interest.
1.2 THE OBJECTIVE OF STUDY
The sole aim of this study is an extensive research into the whole system the bank (ADB) in order to identity the constraints to optional operation the bank and to recommend solution to it.
i. To appraisal if the activities of ADB and highlight the effort that it play in accelerating the economic development of African countries.
ii. What recommendations could be made in order to enable the bank to better meet its mandate.
iii. What are problems facing the bank
iv. What are the performed by ADB in order to accelerate the pace of African development in Africa:
1.3 SIGNIFICANCE OF THE STUDY
The dominance of the banking industry in the financial system and relative importance to the health of the economy dictate that any issue that is at the lone of its survival is very significant and must be given the due attention its deserves,
The study will to agent event contributed to the existing knowledge about a role development banking is performing and the role the ADB is performing in order to accelerate the economic development of Nigeria and Africa.
This study is also important because if will help the banks management to take measures that will attempt to make the ADB more solid to meet its mandate.
1.5 DEFINITIONS OF TERMS
ADB: African development bank.
NEXIM:- The Nigeria export import bank
NIDB: The Nigeria Industrial development bank.
NERFUND: The National economic reconstruction fund.
RCMS:- Regional members countries.
N.T.E: Nigeria trust fund.
