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Funds Mobilization Strategies And Efficiency Of Financial Institutions In Nigeria: Survey Evidence

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  • Chinedu B Ezirim

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.

Suggested Citation

  • Chinedu B Ezirim, 2006. "Funds Mobilization Strategies And Efficiency Of Financial Institutions In Nigeria: Survey Evidence," The IUP Journal of Applied Economics, IUP Publications, vol. 0(6), pages 40-53, November.
    • Handle: RePEc:icf:icfjae:v:05:y:2006:i:6:p:40-53
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