UNIVERSAL BANKING IN NIGERIA: (A CASE STUDY OF AFRIBANK PLC)
ABSTRACT
Universal banking  has been of controversial issue among partitions and regulation of financial sub-sector of Nigeria economy.
However most of these decisions have been flamed by lack of common understanding of what universal banking is and what its implication night wellbeing.
The research attempt to redress that situation by presenting, a well accepted understanding of the system.
Secondly discussing its applicability or lack there of to Nigeria commercial services and industry. And assessing how effective such system could be in Nigeria.
Interview was conducted by the researchers to understand the profile of the case study Afribank plc and how the bank practices universal banking.
 Both primary and secondary data was used to also carryout the research work.
                                      TABLE OF CONTENT
          CHAPTER ONE: INTRODUCTION
1.1           Background of the study                                  
1.2           Afribank plc profile and location                    
1.3           Universal banking as practiced by Afribank  
1.4           Statement of the problem                                 
1.5           Purpose of the study                                         
1.6           Research question       
1.7           Significance of study
1.8           Scope, limitation and delimitation
1.9           Definition of terms concept
       References.                              
CHAPTER TWO: LITERATURE REVIEW
2.1 definition of universal banking       
2.2 history of banking in Nigeria           
2.3 universal banking in other lands     
2.4 before the introduction of universal banking in Nigeria
2.5 origin of universal banking in Nigeria
2.6 universal banking concepts in Nigeria
2.7 arguments for and against universal banking.
2.8 universal banking and supervision authorities
2.9 the merits of universal banking                 
       REFERENCE                                             
CHAPTER THREE: RESEARCH METHOD AND DESIGN
3.1 Research method and design            
3.2 Source of data                                   
3.3 population                                         
3.4 sampling method                     
3.5 method of analysis                  
   CHAPTER FOUR: DATA PRESENTATION AND METHODOLOGY
4.1 Testing questionnaires Analysis and methodology
4.2 Hypothesis testing
      REFERENCE.
CHAPTER FIVE: FINDINGS RECOMMENDATIONS AND CONCLUSION
5.1 findings
5.2           Recommendations      
5.3           Conclusion                  
 BIBLIOGRAPHY               
APPENDIX                          
CHAPTER ONE
INTRODUCTION
1.1           BACKGROUND OF THE STUDY
The concept of universal banking has in recent time remained a contemporary subject of discuss especially on the readiness of the Nigeria banking industry for the system the banking is respected to give the bank right depending on its corporate objective and core competence to engage in any financial service ranging from accepting, deposit lending trading in financial instruments foreign exchange transaction underwriting of debts, Equity issues, brokerage real estate, mortgage, leasing investment and possibility insurance.
This concept is obviously a direct consequence of the globalizations wake, which is now turning the world into a global village for operators in different sectors of human endeavors. The expectation is that such  universal banking would be allowed to engage in all fields of financial services comparable to that of any paint of the world.
The banking industry in Nigeria has remained on the cutting edge and trying always to keep peace with the worlds standard, hence the reason for the quest by bank operates for the introduction of universal banking to give an additional leverage to meet their customers needs and expand operation.
Universal banking operation is no doubt necessary for Nigeria bankers if they want to remain relevant in the international community. Universal banking amongst other things outages operations with adequate capitalization, which would find profitable diversifation into related areas that  would add value to customers and improve profitability.
The universal banking concept would also encourage banks to operate in manners, which will bring all financial service under one roof for the convenience of the customers. With all these in in mind a bank that operated like a merchant bank could aspire to expand to a full fledge commerialbank status, embracing  both investment and securities operation within group, expand to have insurance brokering arm, acquire an insurance brokering company where necessary to operate in its group.
It could be also decide to remain an investment bank or a merchant bank if it has come competence in this area.
     BULLION 2OOO
1.2           AFRI- BANK PROFILE AND LOCATION
 Afri- bank plc is located at opera Avenue along Abakaliki Express road Enugu. It was registered as a banking industry in 1959. The bank to a commercial bank a merchant bank did not change from rather it started going into universal banking scheme gradually before other banks started clamoring for universal banking.
The bank comprise of seven 7 department Name as follows.
A the Accounts  / clearing
B the case unit
C the transfer department
D the credit department
E the customers services
F the Administrative department
G the internal control department
THE BANK HAS STAFF STRENGTH OF FIFTY SEVEN 57
1.3UNIVERSAL BANKING AS PRACTISED BY AFRI- BANK PLC:
Insurance represented by its Afri-bank insurance ltd trustee Activities represented by the Afri-bank trusteeship ltd ATL, stock brokerage, which is represented by the Afri-bank brokerage lit. as can be seen from the above, the bank is also into merchant, commercial banking and insurance.
 1.3           STATEMENT OF PROBLEM:
The issue of universal banking as a recent phenomenon in to the Nigerian banking environment, and as such the practise of the system has been hampered by series of problem.
The first specific problem of universal banking has to  do with agency problem generated between the managers, in the each business units agency problem arises when the ownes or principal organization and the agent who must implement the plans drawn up by the owner or the highest officer are different people.
On the other hand a universal banking agency cost consist of cost of designing explicitly contract between  corporate hand,-quarters and the business units, the cost of supervising them and cost of assuring fulfillment of the of the commitment that have been acquired. Another problem facing universal banks is the moral hazard problem related to the factk that various agents related to the fact that various agents involved have asymmetric information . the moral hazard problem arises when those who hold important information within organization have interest that are different from from those of the people who are responsible for making decision with information.
 Another problem that may be suffered by universal banking cancers the cost coordination the various business units.
1.4           PROPOSE FOR THE STUDY
The aims of the study are as follows:
A to find out how universal banking is applied in Nigeria banks.
B to find out  if universal banking will be effective in the Nigeria economy.
C to find out the challenges universal banking will pose to banking industry operators.
1.6           RESEARCH QUESTIONS:
Some pertinent research question were asked following the problem analysis.
1.    what role do agencies play in universal banking
2.    is agency necessary in banking
3.    why is information needed, important in universal banking system.
4.    do universal banking system resultys to conflicting interest among the operators.
5.     why do banks change to universal banking system.
6.    Will universal banking be effecting in the Nigerian business environment.
7.    Is the cost a constraint to universal banking?
8.    Is there any problem encounters in the process of banks changing to universal banking systems.
 1.5           SIGNIFICANCE OF THE STUDY:
At the end of the study, people will have better understanding of the system and the desirability of banks going into universal banking system most especial as a positive measure to address the main short coming of the existing banking system that has in the past an is often criticized for not fostering the economic industrial develop of the country.
     In the view of its great developmental potential, some noted short comings like conflict of interest with companies, share-holders, emanating from equity ownership issue and complexity could be appropriately care of .
1.9 DEFINITION OF CONCEPT/ TERMS.
The researcher takes the following terms to mean these expressions.
A universal  bank: A universal bank is a bank that performs a diversified function both that of a commercial and merchant bank bank at the same time renders. Insurance services.
b. Bankers: it refers to those that are bank operators. It is used interchangeably  in this study as employee staff that are working in the bank.
c. Merchant bank: it is defined as and person in Ngeria who is engaged in wholesale brokering, medium and long term financing, equipment leasing debt factoring investment management issue and acceptance of bills and the management of unit trust.
d. UB: it means universal banking; it will be used often as an abbreviation in this study.
e. Asymmetric information: not having some information .
f. Diseconomic in Banks: A situation where bank concentrate more on a particular region of operation with more profit and less attention is paid to business with less profitability.