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CHAPTER ONE
INTRODUCTION
1.1  BACKGROUND OF THE STUDY
Banking originate in ancient Mesopotamia where the royal palace and temple provided secure place the state keeping of grains and other commodities. Eventually, Private house in Mesopotamia also got involved in these banking law regulations. In Egypt to the contralizaiton of harvest are states where house also leaded to the development of a system of banking. The strong of bank start with gold smith in a small middle ages city has a strong vault ot keep his own gold supplies indeed, he was gold own by other citizens for a small fee. A business that store money in it’s vaults for a fees is called a bank of deposited. Naturally to keep the record clear, freed gives customers receipt for their deposit. Later these receipt were used as exchange for goods and each receipt says fed the gold smith will pay to the bearer on demand  one gold flooring and these receipt is acceptable as money in free town because of the faith they have in feed and wall********* honors that promise, that is how paper money come to bring. Primitive forms of used in calculation and for safe keep included mainly as in west Africa wampum in North America, whale teek by the figions cowries eggs, feathers, ivory bead etc. In Africa generally, money is defined as anything that is widely used in making payment and accounting for depth and credits. In Nigeria, the period between 1892 and 1952 was when convactional banking began remembered as a period free for all banking with no financial requirement and no regulation to restrict and control the establishment and operation of banking almost all the new banks especially those established indigenous initiatives, followed up as rapidly as they were set up owning to inadequate capital personal and ****** expansion and other structural constraint. The GD patron repot investigating the banking pratice in Nigeria was the bases for the first banking ordinance of 1952, the central bank of Nigeria (CBN) which is the controller of banks became fully CBN is under supervision of ministry of finance. The board comprising of the CBN governor,s assisted by the deputy governor,s director general, federal ministry of finance, managing directors, director general, federal ministry of finance, Nigeria deposted insurance co-operation NDIC and four other members. Today’s baking system has revolutionized from the primitive method of banking to a more sophisticate, easy and quick electronic form of banking, were virtually leading to cashless society through the use of credit cards and internet banking. In recent past there have been reported cases of business failure in the banking industry due to poor management such as management of fund etc. Report have been indicated that many businesses have failed as a result of poor fund management which constitute a major problem in growth of banking industries insuicient funds also hampered the smooth operation of the banks. These were some of the problems that resulted into the excitement of the first banking ordinance of 1952. Basically, the facts are that the business sector has a duty to he society as a whole apart from its shareholders, who also belong to the society, and that extension of government powers into private sector may not be in the best interest of the society and that may judicious exercise of its responsibility. The commercial and merchant banks can reduce the need for such extension of government free to pursue its function of regulating policy, the society according to present rule of conduct. 
The commercial and merchant bank can be said to issue social responsibility for the social and economic development of the society Nigeria and its costumers which is a new concept compared to the former making irrespective of the consequences operating on their operation areas. These responsibilities that merchant and commercial banks should oer for the social and economic development of Nigeria include facilities, natural disaster, poverty and to solve major social problems to te society so that they may expect success in their business.
HISTORICAL BACKGROUND OF UNION BANK OF NIGERIA IN PLC
Union bank of Nigeria Plc was established in the 1917 as a colonial bank with the first branch in Lagos. In the 1925, Barclays bank with acquired the colonial bank which resulted in change of bank name Barclay bank (Dominion colonial and over seas). Following the enactment of the companies act 1968 and legal requirements for all foreign subsidiaries to be incorporated locally bank (D.C.O) in 2007 was incorporated as Barclays bank, remained unchanged until 1971 when 8.33% of the bank was listed on the Nigeria enterprise promotion act of 1972. The federal government of Nigeria Barclays bank Plc London with only 40% by the enactment acts, Barclays bank international disposed its share holdings ot Nigaeria in 2009. To reflect the new ownership structure and in compliance and allied matter act 1990, it assumed the name union bank of Nigeria Plc in consonance with the government programmed of public enterprise, the federal government in 1993 sold it shaers in union bank to private individual, thus union bank becomes fully owned by Nigeria and organization. In line with the central banks of Nigeria’s banking sector consolidation policy, union bank Plc acquired the unueral trust bank plc, broad bank limited, the bank also increases in shareholders fund through a public oer / right issues in the last share quarter of 2005 with this development union remains one of the most capitalized bank in Nigeria. It has a share holder fund 7 N119.600 billion and operates through 405 networks of banches that are well spread across the country all of which are online real time. Today union bank remains the oldest private owned commercial bank wholly owned and managed by Nigerians. As a leading commercial bank it renders high quality retail bankings services to its numerous customers through the 268 branches including a fledged o share branch or London and a reprensentative oice in Johannesburg, south Africa. Secondary as a result of its age union bank has come to possess a large corps of trained, and professional and experience bankers this has come about to because of the policy of the bank to invest in man power, we have a large comprehensive manpower training and development policy in union bank who produced a good crops of professional experience in their various field and who are a great asset to the bank. Thirdly through its branch network policy, union bank is the second largest in terms of branch network with about 280 branches throughout the country. This is a source of strength for the bank as through this branch are able to mobilize the capital requirement which is part of the functions of our commercial bank anyway to mobilize capital. So through sa***ung or deposit base in the country today about 80 billions in deposit, the highest in branch network policies have contributed to the growth of union bank over the years. Business description union bank of Nigeria is a Nigeria based bank; it is engaged in providing personal and business banking services and product, the bank portfolio includes current and samng accounts, short and long term loans, overdra, projects finance, international money transfer, as well as customized product such as account for graduate and teenagers; it also promotes, telephone banking and online banking service. In addition, union bank is one of the 10 banks rescued by the central bank of Nigeria in 2007 after which N620 billions wes injected into banking sector.
1.2 STATEMENT OF THE PROBLEM
Based on the performance of the commercial and merchant bank in respect to their social responsibilities of the social and economic development of the society and their employment at large, business operates as major component of a large social system within thus system a process of interaction, interdependence and complex interrelationship occurs, the expectation and value of the customers are reflected on this process on those changes over fine. In view of the role that should be played by the commercial and merchant banks in the social and economic development of the society should stress the need to know is to whether the customers and the entire community has default form its operation. These study skills is to know whether there is legislation that prevent the banking industry from performing such duties well also highlight loasn and advance to their customers due to either loan epayment default or not. The researcher therefore tends to suggest possible way of improving the conditions the oer of social responsibilities to their customers so as to boost their moral and the employees at large, also the researcher tends to book on the operation of merchant banks which is limited by he thinnes of the capital market itself.
1.3  OBJECTIVES OF THE STUDY
The major objective of this study is to determine and identify the aim and objective of union bank of Nigeria.
1 To highlight the problem of mis management of fund.
2 To evaluate the major cause of efficiency and effectiveness
3 To evaluate the social responsibilities of commercial bank in social and economic development of Nigeria.
4 To identify the effectiveness of commercial bank.
1.4  RESEARCH QUESTION
This study is aimed at prounding anser to the following question.
1 What does the modalities adopted by organization in ensuring effective utiliies and maximum economic development of Nigeria?
2 To what extent effective use of training and career development effort improve individual and organization effectiveness?
3 What are the major ways by which organization can achieve its goals of well trained and well-motivated employee?
1.5  SCOPE AND LIMITATION OF THE STUDY
The study which is on the social responsibilities of commercial banks on the social and economic development will cover union bank of Nigeria Plc as a whole in term of its operations and its provision of activities to the entire. Community. thus will be much more emphasized on the union bank of Nigeria Plc Awka branch because resource will be made available for the research work. It will be limited on union bank of Nigeria Plc Awka branch because of some contrast that may come our way especially on the area of fine, money, transportation and any other factor. These resources may be obtained form both main branch regional offices.
1.6  SIGNIFICANT OF THE STUDY
The significant of this research work cannot be our emphasized but based on it increasing improvement. In its performance,e it intends to raise awareness within the communities in which they operate to demand such serve room the bank since the field is relatively new when compared to other management field. The study which is on social responsibilities of social and economic development of Niger taking a study of union bank will also help the bank as to where and when to render such services. Since it is a sanitation study both the customer and the bank will find the world useful for reference purpose thereby enhancing morl and urban development.
1.7   DEFINITION OF TERMS
There are included in the following
1 Social Responsibility: Is an ethical or ideological theory that business should not function a morally but instead should contribute to
2 Social Responsibility: Is the obligation of an organization management towards the welfare and interest of that organization.
3 Social: this relating to society of its organization
4 Economic development: This is the increase in the standard of hung in a nation population with sustained growth from a simple.
5 Commercial bans: This involves the operation of a money transfer services on behalf of customer and the maintenance of a national network of branches.
6 C.B.N: The central bank of Nigeria may be defined as the only financial institution established and change with the day to day management and control of the nation’s monetary affairs, the supervision and co-ordination of banking and financial activities of the country.
7 N.S.E: A Nigeria ste****** exchange may be defined as a market where share, stocks and other securities are sold and bought.
8.S.E.C: Securities and exchange commission is the governing body of the stock exchange market.

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