The Impact of Infectious Epidemic on the Banking Industry a Case Study of Corona Virus Disease
CHAPTER ONE
Objectives of the study
The aim of this study was to investigate the impact of infectious epidemic on the banking Industry a case study of corona virus disease. The specific objectives are to:
- examine the level of coronavirus disease in Nigeria.
- investigate the impact of coronavirus disease on banking transactions in Nigeria.
CHAPTER TWO
LITERATURE REVIEW
Introduction
The chapter deals with literature review on the concept of the impact of infectious epidemic on the banking Industry a case study of corona virus disease. This involves various definitions of bank, COVID-19, Nigeria case of COVID-19, the review of empirical studies, theoretical review and theoretical framework.
Conceptual Review
In this section, the basic relevant concepts were reviewed. These include bank, COVID-19, among others.
CHAPTER THREE
RESEARCH METHODOLOGY
Introduction
This chapter covers the methodology of this study. Key issues discussed includes; data collection, sampling technique, instrument for data collection, method of data analysis among others.
Research Design
The research design used for this study is survey. It is used as an assessment tool to provide information on which to base sound decisions. It also serves as a foundation for more investigation. The data gathered in a survey are usually answers to predetermined questions that are asked of respondents. This research method was adopted because it offers opportunity for the collation of facts and information from a wide spectrum of respondents without much expense, hence it is expedient for this research.
The use of survey is a favourable option for the following reasons:
- It is accurate
- It is unstructured and can capture time change.
This method is objective in the sense that the personal bias of the researcher is not allowed in findings.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
Introduction
In this chapter, the researcher tends to deal with the analysis and presentation of data collected in the course of this project. A total of 400 copies of questionnaire were administered in the area under study and 372 copies were retrieved from the respondents. This represents 93% return rate.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
This chapter deals with the summary of this study, conclusions from the findings and recommendations which can be used for policy making.
Summary
This study investigate the impact of infectious epidemic on the banking Industry a case study of corona virus disease. The study is in five chapters. In the first chapter, a general background of the study was undertaken. In view of the background, the problems of study were identified and stated, the research questions, the objective, scope and significant of the study were outline and discussed. Finally in the first chapter is the definition of key concepts used in the study.
Chapter two contains the review of various literatures on the concept of the impact of infectious epidemic on the banking Industry a case study of corona virus disease. This involves various definitions of bank, COVID-19, Nigeria case of COVID-19. Also in the second chapter is the empirical and theoretical reviews, theory use as a basis for this study (The infectious disease transmission mechanism theory) was found best for this study.
In the third chapter of this work, the research design, population of study, sample size, sampling techniques, instrument for data collection, method of data collection, validity/reliability of instrument and method of data analysis were all discussed.
In the fourth chapter, data collected (primary) were presented and analysed to answer the research questions. Based on the various findings, the two questions were answered. After the analysis, the findings are as follows:
- The level of coronavirus disease in Nigeria is average.
- Coronavirus disease has effect on the level of banking transactions in Nigeria.
Conclusion
This study has underscored the impact of infectious epidemic on the banking Industry a case study of corona virus disease. Findings from this research uncovered that the infectious epidemic has great effect on the smooth functionality of the banking industry. This is consistent with the findings of Kristine M. Smith, Catherine C. Machalaba, Richard Seifman, Yasha Feferholtz, and William B. Karesha, which revealed that beyond the public health impacts of regional or global emerging and endemic infectious disease events lay wider socioeconomic consequences that are often not considered in risk or impact assessments. With rapid and extensive international travel and trade, such events can elicit economic shock waves far beyond the realm of traditional health sectors and original geographical range of a pathogen. While private sector organizations are impacted indirectly by these disease events, they are under-recognized yet effective stakeholders that can provide critical information, resources, and key partnerships to public and private health systems in response to and in preparation for potential infectious disease events and their socioeconomic consequences. This position was further reiterated in the findings of Wuqi Qiu, Cordia Chu, Ayan Mao, and Jing Wu (2018) which corroborate that Epidemics such as SARS and H7N9 have caused huge negative impacts on population health and the economy in China. Aims. Both outbreaks of SARS and H7N9 have had an impact on China, causing significant negative impacts on health, the economy, and even national and even international security. Both SARS coronavirus and H7N9 viruses presented a global epidemic threat, but the social and economic impacts of H7N9 were not as serious as in the case of SARS because the response to H7N9 was more effective.
Thus, in the light of the foregoing, this study reliably concludes that coronavirus disease has a negative effect on the banking community.
Recommendations
On the strength of the observations and findings made in this study the following recommendations have been made.
- Measures should be devised to curb the spread of the virus and vaccine created so as to prevent further hinge on banking activities.
- Banks should devise a means to function as normal even if it entails making use of online means.
Limitations to the Study
The study faced some constraints. They include insufficient literature material, financial constraint, time constraint, location of the case study. However findings and recommendation is made valuable for policy implementation.
Suggestions for Further Studies
This study has researched on the impact of infectious epidemic on the banking Industry a case study of corona virus disease. Further research can be done on the following:
- Impact of coronavirus disease on banking activities.
- Impact of coronavirus disease on liquidity level.
REFERENCES
- United Dominions Trust Ltd v Kirkwood, 1966, English Court of Appeal, 2 QB 431
- (Banking Ordinance, Section 2, Interpretation, Hong Kong) Note that in this case the definition is extended to include accepting any deposits repayable in less than 3 months, companies that accept deposits of greater than HK$100 000 for periods of greater than 3 months are regulated as deposit taking companies rather than as banks in Hong Kong.
- “Bank of England”. Rulebook Glossary. 1 January 2014. Retrieved 13 July 2018
- Ugochukwu, U. O., Uchechi, C. E., Chuku, A., & Huldah, I. N. (2015). Ebola epidemic – the Nigerian experience. The Pan African Medical Journal. 2015;22 (Supp 1):17. doi:10.11604/pamj.supp.2015.22.1.6625
- Kristine M. Smith, Catherine C. Machalaba, Richard Seifman, Yasha Feferholtz, and William B. Karesha. Infectious disease and economics: The case for considering multi-sectoral impacts retrieved from ncbi.nlm.nih.gov
- Collinson S, Khan K, Heffernan JM (2015) The Effects of Media Reports on Disease Spread and Important Public Health Measurements. PLoS ONE 10(11): e0141423. doi:10.1371/journal.pone.0141423.