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Essay / Research Paper Abstract
A 3 page paper discussing Nigeria’s efforts to repair the effects of years of governmental neglect, and the current civilian government is having difficulty in pointing the country in a workable direction. The purpose here is to assess the threats that Internet banking poses to the traditional banking system of Nigeria. Local and national economies rely heavily on depositors’ funds held in banks. Without access to this capital, Nigerian banks have far less money to lend, thereby further retarding the economy’s ability to grow. Bibliography lists 4 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSbankNigElec.rtf
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Unformatted sample text from the term paper:
has had more than its share of problems over the past several decades. It currently is battling the effects of years of governmental neglect, and the current civilian government
is having difficulty in pointing the country in a workable direction. The purpose here is to assess the threats that Internet banking poses to the traditional banking system of
Nigeria. Nigerias Economy Nigerias military government finally was replaced by a civilian government in 1999, but not before it was able to create
a shambles of the Nigerian economy. Home to 20 percent of all sub-Saharan Africans, Nigeria has virtually no social safety nets in place. Combined with the weak economy,
what this means for Nigerians is that 60 percent of them live in poverty and unemployment is more than 28 percent. More than 3.5 million Nigerians live with HIV/AIDS,
and the country is in the process of losing much of an entire generation. The median age of the citizens of Nigeria is 18 (Nigeria, 2003).
The military government did virtually nothing to develop Nigerias economy aside from depend heavily on Nigerias oil reserves. Today, the oil sector "provides 20% of
GDP, 95% of foreign exchange earnings, and about 65% of budgetary revenues" (Nigeria, 2003), and there is very little non-oil industry in the country. Most of Nigerias economic output
is from the agricultural sector, which no longer can sustain Nigerias population. Nigerias per capita income is only $900, so obviously there are
many people without access to the Internet. There are 500,000 land-line telephones and 200,000 cellular telephones in use in Nigeria, however, so the Internet is accessible to those with
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