PROSPECT OF CREDIBLE BANK CRESIT FOR THE DEVELOPMENT OF THE NIGERIA ECONOMY (A STUDY OF FIRST BANK EKPAN BRANCH, WARRI)

ABSTRACT This research work was undertaken to assess the prospect of credible bank credit for the development of the Nigerian economy. This work was intended to achieve the following objectives, to examine how important bank lending into the Nigeria economy, to examine the basic principles of bank lending educate students and other people about lending Te eradicate the fear people do have in securing credit facilities. To examine the various types of acceptable collateral securities. To examine the response of customers in repayment of Relevant data were collected from both primary and secondary source Questionnaires were the main primary data collection instrument employed while data from various relevant publications constituted this source of secondary data. Upon the analysis of data, the following findings where reviled that the economic condition of the economy has been affected by hank tending. It also reviled that. Bank lending as a major source of finance to privatized public sectors Based on the above findings. I hereby Recommend that All sector of the economy should be encouraged to obtain their capital from banks, Commercial banks are advised to practice the universal banking system that empowered them to grant both short-term and medium term credit facilities, Government should as a matter of fact educate the rural farmers on method of obtaining credit facilities through the help of agricultural extension offices and also extend tending to the rural areas, Every hank should ensure that fraud and errors are prevented in the process of lending with the help of internal audit unit.