Private Equity in Nigeria

Net Sales – totaled $4,485,000.00 for year 6, and grew +33.3% or $1,495,000.00 between years 6 to 7.

returns of 5.7% on sales of $319 million, and made Financial World’s list of the top 200 American

Capital can come from state and corporate pension funds, public and private endowments and personal investors

According to the Chicago-based law firm's study, public companies with more than $1 billion in annual revenue spent an average $10 million on

-During 1914-1920 $600 million was spent on advertisement by big business; this represents 4% of the national income.

billion to an estimated $13.3 billion by 2023 with a Compound Annual Growth Rate of 10.50

The business has been brought and expanded largely on finance in the form of bank loans, not much of the owners own capital has been invested in to the business.

$15.3 million. The return on average invested capital in 1984 was around 20%. Over the past five

At the end of the fiscal year 2000, total company sales reached $191 billion dollars. This was an increase over the previous year of 15.9%. Total international sales amounted to $32 billion dollars at the end of the 2000 fiscal year, which was an increase of 41% over the previous year.

reporting year of 2012. DMC has increased their sales from 2008 at $5.2 billion substantially to

controlled 37 percent of its market with revenue of about $1.2 million. Immediately after the

Revenues steadily grow to $8,827 million in 1999 and Oracle Corporation continues to improve on its product, releasing Oracle8i, the first Internet database, the same year (Oracle Corporation, 2000a).

billion (Exhibit 1 provides a summary of financial information). After a decade of rapid growth,

This section of this chapter aims to interpret the findings and critically evaluate the study. This research indicates that internal control can prevent and detect fraud in Nigerian banking sectors. The first section of the findings contains the first objectives of this research which is to find out the employee knowledge based on the concept of fraud in banking sector. Therefore, According Biegelman, Martin T, (2013) said The penchant for extortion happens when three basic components meet up; intention, opportunity, and rationalization each of these components is fundamental and interrelated all together for a man to commit fraud and the nonappearance of any of them would not permit a man to commit fraud. Opportunity is the driving variable. Without circumstance, fraud plan can 't succeed. Similarly, if a person 's honesty is affected by pressure and justification, and opportunity presents itself, unless the individual has the ability to confer the extortion, the plan won 't succeed (Dennis M. Lormel 2011). However, from the researchers’ findings having asked the staff at the bank there what they think fraud is, 50% of the respondent defined fraud as an illegal act of acquiring wealth, Aderibigbe (1999) and Onibudo (2007) also contributed to fraud immensely, these authors mentioned that one of the causes of fraud is because of inadequate compensation no increase in salary or fringe benefit given to staff, poverty and infidelity of employees fraud is bound to

By B. B. EBONG GROUP MANAGING DIRECTOR/CHIEF EXECUTIVE UNION BANK OF NIGERIA PLC ABSTRACT Against the backdrop of the role of banks as financial intermediaries and their function as the engine of growth of the economy, this paper examines the extent to which the banking industry has helped to stimulate economic activities in Nigeria and what the prognosis looks like in the post-consolidation era. The paper notes that the banking industry in Nigeria witnessed a remarkable growth in terms of deposit base, number of branches, total asset and volume of loans and advances, especially since the de-regulation of the financial services sector in the last quarter of 1986. However,