FUNDS MOBILIZATION STRATEGIES AND EFFICIENCY OF FINANCIAL INSTITUTIONS IN NIGERIA: SURVEY EVIDENCEChinedu B Ezirim The Icfai Journal of Applied Economics, 2006, vol. V, issue 6, pages 40-53 Abstract: This paper attempts to analyze the strategies and efficiency of commercial banks, merchant banks, insurance companies, and finance houses in their savings mobilization activities in Nigeria. The study involved a survey of 260 financial institutions. The evidence revealed that for all financial institutions put together, the most important funds mobilization objective is the generation of funds from convenient sources that guarantee cost effectiveness and time efficiency. The most prominently used strategies for funds mobilization among the financial institutions are the call marketing strategy, corporate image strategy, and product innovation and packaging. These strategies reveal obvious shifts in both orientation and policy along the following lines: (a) Arm-chair banking increasingly being replaced with aggressive call marketing strategy, revealing radical shifts from conservatism to aggressiveness; (b) Made-to-measure replacing off-the-peg type of services; and (c) General realization and awareness that efficient treasury management is a strategy in itself. Finally, the institutions were found to display relative efficiency in their fund mobilization efforts. There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Access Statistics for this article More articles in The Icfai Journal of Applied Economics from ICFAI Press |
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