Home  |   eJManager Journal Management System

Index for Medical Articles
 

Open Access

Original Research

IJCRR. 2012; 4(21): 01-16


TRADITIONAL FINANCIAL INSTITUTIONS AND RURAL ENTERPRISES IN NIGERIA: THE CASE OF OGONI LAND

Ettah B. Essien, Onye Kenneth Ugwu, Daasi, Gibson L. K..

Abstract
This paper examines the role of the traditional financial institutions (TFIs) in the development of micro and small scale enterprises (MSEs) in Ogoni land. The methodology adopted for the study is based on the Paired Observation Test (POT). By adopting an empirical analysis of field data, the paper sought to ascertain the role of some forms of TFIs (the Osusu scheme) in the growth and development of MSEs. The assessment is based on analysis of the involvement of MSEs operators in the Osusu scheme, their total turnover on investments and number of people employed after six years of involvement in the scheme. It also reviews the strengths and challenges of the system in Ogoni and offers some suggestions for strengthening it. Relying on the paired observation test, the results of the study indicates that TFIs generally contributes to the development of the MSEs in Ogoni. However, the Osusu system favours the development of organized MSEs than unorganized MSEs. The study identifies self-regulation as the major setback on the efficacy of TFIs in fostering the growth of MSEs in Ogoni and recommends a system of regulation that may replicate that of the Association of Micro-finance Banks of Nigeria. Increased awareness, periodic supervision and monitoring of the activities of the TFIs are also recommended.

Key words: Traditional Financial Institutions, Micro and Small Scale Enterprises, Ogoni land, Paired Observation Test


Full text links





ScopeMed Home
Follow ScopeMed on Twitter
Job Opportunities/Service Offers
About ScopeMed
Terms & Conditions
Privacy Policy
Suggest a Journal
Contact Us

The articles in Scopemed are open access articles licensed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, provided the work is properly cited.
ScopeMed is a Service of eJManager LLC Publishing for Scientific Publications. Copyright © ScopeMed® International Medical Journal Management and Indexing System.