COMPLETE SCHOOL PROJECT TOPICS & MATERIALS :
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CHAPTER ONE

INTRODUCTION

BACKGROUND TO THE STUDY

A financial institution is an organize body concern with the management of money. This to say that the institution is responsible for the lending and borrowing of money. In other word, it is the institution involved in financial intermediation where money is mobilized and is channeled from the public settings. Those who have surplus fund want to invest in productive activity. Some of this institution in Nigeria is the commercial bank, stock exchange market, merchant bank, CBN, insurance market and the development banks.

Mismanagement is defined by land man English dictionary version as control with private, public, or business affaire badly or unskillfully. Mismanagement is also defined by Oxford English dictionary as mismanaged, improper administration to manage wrongly. The financial mismanagement according to the above definition may be improper administration, wrong uses of money, and inadequate collateral security of granting loan.

Misappropriation of money or management of finances unskillfully. They are good in selling of security. They are sources of revenue to the government. They help the government extremely in the internal trade. They also provide a lot of advice to the government. To the public and private individual affairs. The bank grant loan on advance and make locally or outside Nigeria. In fact they performer a variety of function to safety the financial need of all the type of costumers form small personnel account holder to the big incorporated organization. That is by accepting of deposit, safe custody agency service etc.

The industry has gone beyond the optimistic of the period of years. The number of the expanded in five funds. The variety of the bank increase and promote the growth of industrial fraud due to the craze fore material wealth, inflating of contracts, God-fattherism, poor management and other bank matinee contribute extremely to the constant report of financial management in the financial institution. Even the marketer in this institution has been complaining that hunger and starvation have killed them due to the inability of the managers to pay their salaries. This has all happen due to misappropriation of fund meant for salaries.

Reporting of riot, workers unrest or strike of worker which brig a lot impact on the economy not function effectively. Something costumer in those institution accused there accountant manager of embezzling their money 1.e in  lies in cooperative and commercial bank.