Effect Of Rural Banking Scheme In Nigeria; Implication For Economic Growth And Development
ABSTRACT
The rural banking scheme was
established in 1977 by the central bank of Nigeria, following the perceived
need to redress the lopsided nature of the bank expansion/distribution between
the rural and urban centres (Nzotta, 2004). Conceptually, the rural banking
sought to propel development in the rural areas. Development projects were to
be initiated and financed by the rural branches of banks. Under the scheme,
every commercial bank was allocated a specified number of branches which it
must establish at designated rural locations, within a giving time frame. The
programme had three phases (Chizea, 1985). The first phase stretched between
1977 and 1980. a total of200 bank branches were involved. The central bank took
into consideration prior involvement in rural banking in its allocation of
branches to banks. The essence was to bring each bank ratio of rural and urban
branches to the same level. The second phase (July1980 Dec. 1983) involved 266
rural branches, while the third phase (August 1985-July 1989) has 300 rural
branches.
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ESIONYE, T (2021). Effect Of Rural Banking Scheme In Nigeria; Implication For Economic Growth And Development . Repository.mouau.edu.ng: Retrieved May 19, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-rural-banking-scheme-in-nigeria-implication-for-economic-growth-and-development-7-2
TOCHI, ESIONYE. "Effect Of Rural Banking Scheme In Nigeria; Implication For Economic Growth And Development " Repository.mouau.edu.ng. Repository.mouau.edu.ng, 05 Jul. 2021, https://repository.mouau.edu.ng/work/view/effect-of-rural-banking-scheme-in-nigeria-implication-for-economic-growth-and-development-7-2. Accessed 19 May. 2024.
TOCHI, ESIONYE. "Effect Of Rural Banking Scheme In Nigeria; Implication For Economic Growth And Development ". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 05 Jul. 2021. Web. 19 May. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-rural-banking-scheme-in-nigeria-implication-for-economic-growth-and-development-7-2 >.
TOCHI, ESIONYE. "Effect Of Rural Banking Scheme In Nigeria; Implication For Economic Growth And Development " Repository.mouau.edu.ng (2021). Accessed 19 May. 2024. https://repository.mouau.edu.ng/work/view/effect-of-rural-banking-scheme-in-nigeria-implication-for-economic-growth-and-development-7-2