Banking and Finance

Banking and Finance Department is one of the Departments structured in the Faculty of Management and Social Science, Madonna University, Okija, Ananmbra State.

The Department was founded in 1999 and it runs a 4 years degree programme that leads to the award of B.Sc. Degree in Banking and Finance. This Handbook gives a detail of structure and the requirements of the department.

The general Philosophy of the Banking and Finance academic Programme is to develop the mind, impact both theoretical and practical knowledge on the individual, to develop confidence and self-reliance in the fields of Banking & Finance. To this end, the Departmental programme has an underlying philosophy of providing excellent services to the community with the end- product being able to act as a catalyst in bringing about the much needed changes in the nation’s financial industry.

The Department of Banking and Finance offers a four-year Degree programme leading to the award of Bachelor of Science, Degree. The basis for the acquisition of degree is by course work and research project.

The course work is designed to provide regular interactive sessions (contact hours) for the students and is facilitated by Lecturers drawn from various fields and which in turn exposes the students of wider scope of readership in conformity with the dynamics of global economic, social and technological needs.

The project work on the other hand is aimed at exposing the students to the field and designed to imbue them with spirit of independence, originality and inquisitiveness which together sharpen the individual personality to face challenges.

Objectives

Education in Banking and Finance is aimed at developing the necessary financial tools that will enable the individuals occupy Managerial positions in government and private sector establishments such as commercial banks, merchant banks, Finance and Investment Companies, Brokerage Firms, Commerce and Industry, Insurance Companies as well as self-employment.

The discipline further provides, through intensive teaching and in-depth research the needed high-level manpower for our institutions of higher learning. It is also expected that at the completion of a 4-year programme of studies, graduates of Banking and Finance must have acquired the necessary knowledge which will humanize them and infuse them with rational, creative and wide spectra of thinking. It will also dispose them favorably to the ever changing needs of the society.

Scope 

The degree programme in Accountancy will expose students to the following core areas of Accountancy: Financial Accounting and Reporting, Management Accounting, Accounting Ethics, Accounting theory, Management Information System, Cost Accounting, Public Sector Accounting, International Accounting, Taxation, Bankruptcy and Executorships Accounts, International Financial Reporting Standards, Auditing and Investigation, Commercial Law, Mining, Oil and Gas Accounting. The courses address the dynamic and constantly changing business environment to equip students with the demands of the current global business changes and equally enable them appreciate the use of accounting results in reaching major organizational decision.

BANKING

This area focuses on the study of bank and non-bank financial institutions as well as their roles in financial intermediation.

A good knowledge to these institutions within the purview of government monetary and credit policies are both compelling and inevitable challenges that must be comprehended and suited to the complex changing needs of the environment.

FINANCE

This aspect relates to the Financial Management and control of a Nation to the challenges posed by both National and International Financial Institutions. Specifically, it is concerned with the study on how firms raise and administer business funds especially if the objective is maximization or optimization of returns. It emphasizes the study of long term, medium and short term debt instruments, stock, portfolio analysis, and cost of capital, budgeting etc.

Essentially, these areas (Banking and Finance) are combined to facilitate policy formulation, analysis and implementation for sustainable economic and social integration