Accounting technicians scheme west africa
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| Project management Merchant bankers help their clients in many ways. For example, advising about location of a project, preparing a project report, conducting feasibility studies, making a plan for financing the project, finding outsources of finance, advising about concessions and incentives from the government. db Advice on expansion and modernisation Merchant bankers give advice for expansion and modernisation of the business units. They give expert advice on mergers and amalgamations, acquisition and takeovers, diversification of business, foreign collaborations and joint-ventures, technology upgrading, etc. e) Managing public issue of companies Merchant bank advise and manage the public issue of companies. They provide the following services related to public issue of securities f) Handling government consent for industrial projects A businessman has to get government permission for starting of the project. Similarly, a company requires permission for expansion or modernisation of activities. For this, many formalities have to be completed. Merchant banks do all these work for their clients. g) Corporate restructuring It includes mergers or acquisitions of existing business units, sale of existing unit or disinvestment. This requires proper negotiations, preparation of documents and completion of legal formalities. Merchant bankers offer all these services to their clients. h) Money market operation Merchant bankers deal with and underwrite short- term money market instruments, such as Government bonds, Certificate of deposit issued by banks and financial institutions, Commercial paper issued by large corporate firms. (d) Development Banks Development banks are specialised financial institutions providing medium and long- term credits to selected sectors of the economy. Such sectors include Agriculture, Commerce and Industry, Housing, etc. These banks are government-established institutions for special purposes. In Nigeria, such banks include the Nigerian Industrial Development Bank (NIDB) established into carry on business of assisting enterprises engaged in industry, commerce, agriculture and exploitation of natural resources in Nigeria the Nigerian Bank for Commerce and Industry (NBCI) established in 1973 in the wake of indigenisation exercise to ensure that the exercise is successful the Nigerian Agricultural and Cooperative Bank (NACB) established on March 1973 to develop the agricultural sector the Federal Mortgage Bank of Nigeria (FMBN) established in January 1977 to cater for housing problems in Nigeria, the Nigerian Export-Import Bank (NEXIM) established into provide both finance and insurance services to imports and exports businesses. Download 3.37 Mb. Share with your friends:
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