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The Need for Effective Credit Control and Debt Recovery in Nigeria Deposit Banks (A Case Study of Access Bank Plc, Unity Road, Ilorin)

ABSTRACT

The development of credit control and debt recovery in many deposit banks is ineffective with the level of industrialization in Nigeria. Impediments include inadequate professional skills on the part of credit controllers in organizing the funds to credit applicants, failure of the managers to adopt the efficient credit system and debt recovery techniques are some of the major problems militating against the effectiveness of credit control and debt recovery in financial institution in Nigeria. This paper examined the need for effective credit control and debt recovery in commercial/deposit
banks in Nigeria. 


We adopted descriptive research and both primary and secondary sources of data were used in gathering information for this research work. Questionnaires were administered on the entire 16 members of staff of Access Bank Plc, Unity road, Ilorin but only 14 were filled and
returned. 

The researchers found out that practices of sound financialdiscipline enable the bank to have a good credit control hence it was recommended that credit facilities should be granted after thorough
evaluation of the loan applicants’ proposals and concise efforts should be made to monitor loan utilization by borrowers.

Keywords: 

Debtors Management, Credit Control, Debt Recovery and Deposit
Banks/Commercial Banks







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