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The Investment of Insurance Fund in Nigeria

The Investment of Insurance Fund in Nigeria

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DEDICATION

This research material, titled “The Investment of Insurance Fund in Nigeria” is dedicated to God for His boundless grace and guidance. It is also a tribute to all computer enthusiasts whose contributions made my research journey smoother and enriched my documentation process, making the experience truly fulfilling.




ACKNOWLEDGEMENT

I am profoundly grateful to everyone who contributed to the successful completion of this project. I am especially grateful to my Supervisor (Name), the Head of Department (Name), and the Lecturers in the Department of Accountancy / Accounting for their invaluable guidance and support. I also acknowledge the contributions of authors and scholars whose works on The Investment of Insurance Fund in Nigeria provided essential insights. Special thanks go to my study area (and any funding organizations, if applicable) for their financial assistance. I am equally thankful to stakeholders, including mentors, teachers, and colleagues, for their encouragement and support. Finally, I deeply appreciate my family and friends for their patience and unwavering support throughout this journey. Your contributions have been instrumental in making this research a reality.




PRELIMINARY PAGES


CHAPTER ONE

INTRODUCTION


    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • 2.4 Empirical Studies
    • 2.5 Research Gaps
    • 2.6 Summary of Literature Review

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”



    ABSTRACT

    The aim of the project is to evaluate or appraise the investment of insurance funds in the Nigerian economy. In order to carryout this project, some statement of problems were evolved, the purpose of study as the sample size and various instrument used for the collection of data.

    These helped to direct the course of this project work. The hypothesis were also tested and accepted with the responses received through administering of personal interview questions. On the whole, the purpose of the study were achieved and the problem statement answered. The researcher also received relevant literature that relate to the topic of the research. The review of literature gave detailed information of the development and importance of the insurance industry in Nigeria, as well as the various classes of funds which they invest. There was a view of the legal requirement binding the investment of insurance funds in the Nigerian economy. Some of the reviews were explained in details. In the cause of the study, the researcher was able to note the problems that face the investment of insurance funds in Nigeria.

    Recommendations were also made on how these problems will be solved. Furthermore, in the course of the study, the data collected from respondents and the hypothesis were analysed and it was discovered that investment of insurance funds enhances the economy. Finally, in chapter five, the researcher concluded his finding, made suggestions for further research, in the area of enlightenment, provision of a developed capital market and recommended that the insurance companies should transact on cash basis, creation of insurance businesses and many other things.



    The Investment of Insurance Fund in Nigeria



    Introduction

    The image of insurance has become more sensitive than ever, because we are in are in a world full of uncertainties, all kinds of stresses, growing complexities of business in modern day. Nigeria, coupled with the increasing number of business concerns employing many hands, the importance of an insurance scheme can hardly be underestimate. We can also note that every aspect of human life in any dimension one can think of is subject to one risk or the other.

    The risk involved many be against human life or material possession. Insurance is one of the social science which essentially is designed for risk taking. This process of risk taking entails the pooling together of the resources of many individuals in order word, insurance is the management of a pool of risk whereby, the fortunate members of a group assist the unfortunate few who suffer losses. Adeyemo (1999:12) defined insurance as a social and economic device which provides financial compensation against the effects of any misfortune.

    This compensation is made from the accumulated contributions of all parties taking part in the insurance scheme. Apart from covering industrial insurance also protects corporate bodies and other business organization from varieties of hazards like burglary, workman compensation indemnity, goods – in – transit, public liability etc. Investment refers to that part of a person’s income or firm’s income that is immediately put to use for a certain return of additional income.

    The investment of insurance funds in Nigeria is regulated by the insurance decree of 1976 under section 18. The substantial funds held by insures are invested as a funds held by insurers are invested as to earn interest on capital gains. Insurance companies provide funds for investment through the premium they collect from their numerous policy holder.

    Life insurance companies for instance, invest funds that flow to them from many policy holders thus, becoming important source of capital funds for the Nigerian economy. Insurance companies help to provide the state with a steady flow of investment funds which are essential to the community. The investment of insurance funds helps to contribute profits to the national purse and also provide labour for the working population in a given area.


    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the conceputal review, theoretical framework, the review of related literature …

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    Defense Procedure for Accounting Researchers


    In preparation for defending a project or seminar on The Investment of Insurance Fund in Nigeria, it is imperative that as a nursing student, you demonstrate comprehensive knowledge of your research. The defense process is structured to include presenting your work, answering questions, and illustrating its pertinence. Initially, provide a succinct yet thorough introduction to your research topic, emphasizing its importance and the objectives, ensuring that both the audience and the External Examiner can understand the scope of your study.


    Prior to your defense, be thoroughly acquainted with your research abstract and the critical elements of Chapter One, including motivation for embarking on this research, problem statement, objectives, and significance. In Chapter Two, be ready to cite at least two references from the literature review. For Chapter Three, you should be equipped to discuss the methodologies, tools, and techniques utilized. In Chapter Four, defend your research by justifying the findings and linking them to your research objectives.


    Conclude your defense by succinctly summarizing the study and offering insightful, evidence-based recommendations. A professional dress code, such as wearing a suit and tie, is vital to create a favorable impression and elevate your presentation.


    During the question and answer segment, the External Examiner may pose questions pertaining to your research. If confronted with a challenging or irrelevant question, respond diplomatically with, “Sorry, Sir/Madam, the question asked is beyond the scope of my study.” Whenever possible, direct your answers back to your research findings to reinforce your expertise.


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