CARTA MAGNA

145 Table 17: Distribution of the academic and professional qualifications of the respondents 4

Academic/ Professional Qualification

Frequency Percentage (%)

OND/RTP HND/BS.c/RTP

HND/BS.c/ MNITP/RTP M.Sc/TOPREC

P.hD Total

- 4 1 1 - 6

- 66.66 16.67 16.67 - 100.00

RTP= Registered Town Planner, MNITP= Member Nigeria Institute of Town Planners TOPREC=Town Planners Registration Council

The result on the table 17 showed that 100% of the respondents were HND/B.Sc holders as well as registered town planners. This implied that their contributions to the study were significant and valuable.

4.5 Presentation and Analysis of Data Obtained From the Real Estate Financiers

146 First bank

First bank Nigeria sometimes referred to as first bank is a Nigerian bank and financial services company. It was founded in 1894. In 1957, bank of British West Africa changed its name to Bank of West Africa (BWA). After independence in 1960, the bank began to send more credit to indigenous Nigerians. At the same time, citizens began to trust British banks since there was an independent financial control mechanism and more citizens began to patronize the new bank of West Africa. In 1965, Standard bank acquired the bank and change its acquisition name to Standard Bank of West Africa. In 1969, Standard bank of West Africa incorporated its Nigerian operations under the name Standard bank of Nigeria.

In 1971, Standard bank of Nigeria listed its shares on the Nigerian stock exchange and placed 13% of its share capital with the Nigerian investors. After the end of the Nigerian civil war, Nigerians military government sought to increase local control of the retail banking sector. In response, now Standard Chartered Bank reduced its stake in Standard bank Nigeria to 38%. Once it has lost majority control, Standard Chartered wished to signal that it was no longer responsible for the bank and the bank changed its name to First bank of Nigeria in 1979. In Port Harcourt, First bank has 21 branches.( First Bank Nigeria, 2015).

United bank for Africa

United Bank for Africa was founded in 1949. It is a Nigerian bank with offices in nineteen largest banks namely; the old UBA and erstwhile Standard Trust Bank (Plc) respectively, and subsequent acquisition of the erstwhile Continental Trust Bank Limited (CTB). The union emerged as the first successful corporate combination in the history of Nigerian banking. UBA has nineteen branches in Port Harcourt. (United Bank for Africa, 2015).

147 Guaranty Trust Bank

Guaranty Trust Bank also known as GT Bank is a leading African financial institution with a strong service culture that offers online/internet banking, retail banking, corporate banking, investment banking, and asset management services with headquarters in Victoria Island Lagos. GTB was incorporated as a limited liability company licensed to provide commercial and other banking services to the Nigerian public in 1990 and commenced operations in February 1991. GTB has eleven branches in Port Harcourt. (Guaranty Trust Bank, 2015).

Aso Savings and Loans Limited

Aso savings and loans PLC is a primary mortgage institution instituted in Nigeria as a limited liability company on November 9, 1995. They formally commenced business on January 2, 1997 and converted to a public limited company on September 22, 2005. They are regulated by central bank of Nigeria under the Mortgage Bank Decree no.53 of 1989 to carry out the business of mortgage banking in Nigeria (Aso savings and Loans, 2015).

Taf Nigeria Homes Limited

The firm which was founded by Chief Executive Officer Mustapha Njie is on an upward trajectory after entering a public private partnership with the Rivers State Government to build 900 housing units in the Golf Estate Project. It aims at bringing affordable and quality homes to Africans as one of the main drivers behind the construction and development company Taf Nigeria Homes Limited.(Rivtaf Nigeria limited, 2015)

148 A total number of 30 questionnaires were distributed to bankers in these different commercial banks in the study area. Only 20 of the questionnaire were filled and returned, having a response rate of 66.7%.

4.5.1 Section one: Demographic information on the respondents

This section provided information on the age, status, designation and academic qualification of the respondents.

Table 18: Distribution of the age of the respondents 5

Age Frequency Percentage (%)

20-40 40-60

70 and above Total

12 8 - 20

60.00 40.00 - 100.00

This showed that 60% percentage of the respondents were within the ages of 20-40 while the remaining 40% were within ages 40-60.

Table 19: Distribution of the designation of the respondents 5

Designation Frequency Percentage (%)

Senior staff Junior staff Others Total

7 11 2 20

35.00 55.00 10.00 100.00

149 The table showed that the junior staff was 55%, senior staff 35% and others 10%. It implied that this number were familiar with banking operations and their contributions to the study necessary.

Table 20: Distribution of the academic qualifications of the respondents 5 Academic qualification Frequency Percentage (%) OND

HND B.Sc M.Sc Ph.D Total

5 6 8 1 - 20

25.00 30.00 40.00 5.00 - 100.00

The table showed that 25% of the respondents had OND, 30% had HND, 40% had B.Sc while 5% had M.Sc. This implied that the respondents were knowledgeable enough to supply the data needed from them by the researcher.

Table 21: Professional qualifications of the respondents 5

Professional qualification Frequency Percentage (%) ANIVS

ANIVS/RSV Others

2 - 18

10.00 - 90.00

Total 20 100.00

150 The table showed that only 10% of the respondents were estate surveyors and valuers. The rest of them were in other professions.

The total number of responses from the respondents was 205(these comprised 161 from estate surveyors and valuers in practice, 9 from estate surveyors and valuers in academics, 9 from real estate developers, 6 from town planners, and 20 from real estate financiers).

Having shown the section one of the data obtained from the different categories of respondents, section two followed on.