Cooperative and commerce bank case study
Date
2016
Journal Title
Journal ISSN
Volume Title
Publisher
Nigeria Deposit Insurance Corporation
Abstract
Review of issues 1. Ownership 2; 2. The Board of Directors 2; 3. The Management 3; 4. Accounting Systems & Control 4; 5. Loans and Advances 4; 6. Liquidity & Fund Management 5; 7. Income and Expenditure 6; Conclusion 6;EXHIBITS 1-13 9;
Description
Cooperative and Commerce Bank was incorporated in 1961 as a Private Limited Liability Company by the defunct Eastern Nigeria Government and it operated as a Commercial Bank. Upon the creation of states in 1967 – the 12 states structure in Nigeria, its ownership was vested in the government of East Central State which later became Anambra and Imo States. Thus the bank was owned by two State Governments and their respective cooperative movements. The bank expanded in operations and grew to a branch network of 62 (sixty two) branches with a staff strength of 2,843 (two thousand eight hundred and forty three). However, its management was not able to sufficiently manage this expansion and by 1990, it consolidated some branches and reduced the total number to 29. As of January 1991 its paid up capital was NGN25,329,000 (twenty five million three hundred and twenty nine thousand).