THE FINANCIAL MANAGEMENT IN COOPERATIVE FINANCING AGENCY (A CASE STUDY OF KWARA CO-OPERATIVE FINANCIAL AGENCY L.T.D ILORIN)

TABLE OF CONTENT

Title page                                                         i

Certification                                                     ii

Dedication                                                       iii

Acknowledgement                                            iv

Abstract                                                           v-vi

Table of content                                               vii – v      

CHAPTER ONE      

1. Introduction                                                     1
2. Aims and objectives of the study                     3
3. Statement of the problem                                4
4. Limitations of the study                                   5
5. Scope of the study                                           6
6. Research questions                                          6

1.6.1        Characteristic of useable research question     7-15

CHAPTER TWO

• Financial management in a financial institution 16
• Financial reports                                             18
• Financial control                                             21
• The voucher system                                         22
• Internally generated funds                               24
• Financial strengthening                                   28
• Internal audit                                                   29
• Risk management programme                         29
• Responsibility of the officer                              35

CHAPTER THREE

3.1   Origin and historical development of Kwara cooperative financing agency                                37

• The objectives of Kwara cooperative financing agency                                                             39
• The structure of Kwara cooperative financing agency 40
• Kwara cooperative financing agency committee duties and responsibilities of the board of director                    40

CHAPTER FOUR

• Data presentation                                            46
• Data interpretation                                          47
• Test of hypothesis                                            48
• Data analysis                                                   56
• Research findings                                            56

CHAPTER FIVE: summary, recommendation and conclusion

• Summary                                                         59
• Recommendations                                           60
• Conclusion                                                      62

Bibliography                                                    64

CHAPTER ONE

1.1   INTRODUCTION

        Cooperative financing agencies are not different from other types of business with respect to efficient management of their funds they require its used fund very carefully and judiciously because their source of funds tend to be limited.       

      The peculiar limitation imposed by cooperative principles mark it very difficult for cooperative to obtain sufficient fund from outside e.g that interest payment must not exceed a certain percentage.

                As a catalyst cooperative financing agency pull together the resources of entire cooperative credit union and by so doing mark it possible for credit union to help each other by bringing the gap between rich and poor cooperative credit union. The cooperative credit concept is widely recognized on the only means for successful improved the standard of living.

        Therefore, through the spirit of cooperative mutual self help the rich credit union like to lend some of their individual financial strengths to the poor credit union in the order to effect imposed credit equipment can the financial strength and mutual protection that unit breads.

        When a credit union invest part of the member total serving into the apex through the financing programme. It lends its lending power to another by making money available for the credit needs of its members and to accord financial relief in the desire of the world.

        The desire for individual to develop them economically and the desire of cooperative financial agency to become strengthened and provide better services to their member themselves will be achieved through efficient financial management.

        There is no better place where members saving could be portability invested than members themselves. Therefore financial agency feels that the saving mobilized by the agency if they are to be used profitability, priority should be made to circulated with financial agency itself and be fully utilized to up like living standard of the members to when there savings belong.

        In general no outsider want to invest his money in cooperative members. Often consider leaving only a minimum amount in cooperative business only to invest the rest of the money in other types of business, which have no in dividend restrictions.

        The phenomenon is term capital flight and emphasize the need for a very careful and efficient management of means fund available to cooperative financing agencies.

1.2   AIMS AND OBJECTIVE OF THE STUDY