IMPLICATION OF THE CURRENT ECONOMIC HARDSHIP ON THE NIGERIA FINANCIAL INSTITUTION

This research work is an attempt to hardship on the Nigeria financial institution. In conducting this research I went to Central Bank of Nigeria Enugu branch and some libraries to get some relevant materials. For this research word consist of study base on selection of different secondary data. It also emphasizes on not just the implication of current economic hardship on our financial institution but also how it affects Banks and Insurance Companies in particular. Based on the research work, the following financial were made. The problems that are causing the currents economic hardship, which have great effect on our financial institution are: i high inflation rate in economy . ii The devaluation of the national currency. iii Escalation of cost. iv Excessive Bank rate. v Unhealthy business relationship with foreign currency. vi Political instability. Based on the above finding recommendation government should pay more attention on the financial sector of economy, know their problems and endeavour to solve them. More so, I recommend that as part of the rehabilitation process in some banks in Nigeria, and federal government should assist some of these banks rise loan-able fund and even have some fixed deposit with the banks so that they will gain public confidence. Furthermore, the government should elect a democratic government and also map out its policies with care and duly implement them so that they can achieve positive results. I recommend that government should pay the country external debt as when due.