CAPITAL MARKET
Capital market is a market for medium-term and long-term loans. The capital market serves the needs of industry and the commercial sector. It comprises all the institutions which are concerned with either the supply of or demand for long-term capital.…
MONEY MARKET
Money market can be defined as a market for short-term loan. The market consists of institutions or individuals who either have money to lend or wish to borrow on a short-term basis. Instruments used in the money market Treasury…
TRADITIONAL FINANCIAL INSTITUTIONS
The traditional financial institutions came into existence several years before the establishment of modern banking system in many countries in the West African subregion. It involves the coming together of a group of people with common interest in the same…
INSURANCE COMPANIES
Insurance companies are financial institutions that are concerned with insurance. Insurance may be defined as a contract between an insurer and an insured, under which an insurer promises to indemnify (compensate) the insured against loss, which he may suffer in…
MORTGAGE BANKS
Mortgage banks are financial institutions that specialise in granting loans to individuals and corporate bodies for building purposes. Such loans are repaid by instalments and can be spread over several years. Mortgage banks accept deposit from the investing public at…
MERCHANT BANKS
Merchant banks are financial institutions which perform specialised functions, such as acceptance of bills of exchange, issuance of loans for foreign trade transactions, issuance of new shares, and provision of medium and long-term loans. They are sometimes referred to as…
DEVELOPMENT BANKS
Development banks are specialised financial institutions which provide long-term credit or loan to other enterprises for capital projects. They provide loans for projects in the area of agriculture, commerce and industry. Examples of development banks in Nigeria are Nigeria Industrial…
BANK CLEARING HOUSE
Bank clearing house is an institution established by member banks to simplify exchanging and obtaining of payments for the cheques that are paid into bank branches throughout the country. The clearing system is used among banks to settle cheques drawn…
FEEDING MECHANISMS IN HOLOZOIC ORGANISMS
There are five modifications and mechanisms of feeding associated with someorganisms. These feeding mechanisms include: 1) Absorbing mechanisms, e.g. tapeworm The tapeworm is an endoparasite which carries out parasitic feeding on its host i.e ., the man. It has no…
CENTRAL BANK
Central bank is the highest financial institution in a country which carries out the monetary policy of the government. It is the sole authority in the banking industry which acts as banker to the government and the commercial banks. Central…
CHEQUES
The Bill of Exchange Act defines a cheque as: “A bill of exchange drawn on a banker payable on demand.” In other words, a cheque is an order written by the drawer to a bank to pay on demand a…
ASEXUAL REPRODUCTION
Asexual is the type of reproduction in which new organisms are produced from a single parent without the production of gametes. The offspring called the clones are the same in all respects to each other and to the parent organisms…
REPRODUCTION
Reproduction is the ability of living organisms to give rise to new individuals of the same species. The purpose of reproduction is to ensure the continuity of life. Types of Reproduction There are two main types of reproduction. These…
CREDIT FACILITIES PROVIDED BY COMMERCIAL BANKS
Banks can act as agent of lending by means of loan, overdraft and discounting bill of exchange. Commercial banks act as agent of lending through the following ways: 1) Loan: Through loan, money is lent out to customers at an…
THE ALIMENTARY CANAL AND DIGESTION OF FOOD IN MAN
The alimentary canal of man includes the mouth, oesophagus, stomach, duodenum, small intestine or ileum, caecum, appendix, large intestine or colon, rectum and anus. The description and importance of the parts are as follows: Mouth: The alimentary canal of man…
TYPES OF BANK ACCOUNTS
There are three types of account which customers can open in a bank. These are current, deposit and savings accounts. Current Account: Current account is the type of bank account usually operated by businessmen and organisations and is required if…
MEANING OF FINANCIAL INSTITUTIONS
Financial institutions refer to all business organisations which hold money for individuals and institutions and may borrow from them in order to give loans or make other investments. Financial institutions are very important for the economic development of a nation.…
PAN-AFRICANISM
The advocates of Pan-Africanism propounded the need for racial harmony, mutual existence coupled with absolute equality and respect for the dignity of Africans. It further accepts the need for cooperation and unity among African states in the areas of economic,…
NATIONALIST MOVEMENT IN BRITISH WEST AFRICA
The nationalist movements played significant role in influencing Nigerians and propelling them towards the struggle for self-rule. 1) West African Students’ Union (WASU): It was formed in 1925 by Chief Ladipo Solanke of Nigeria. The interests of this union centred…
NATIONALISM IN NIGERIA
Nationalism may be defined as a certain form of unity which grows out of historical experience. It is the sense of oneness that emerges from social groups, trying to control their destiny, environment and to defend their interest against competing…
JOINT VENTURES OR ENTERPRISES
Joint ventures or enterprises can be defined as those businesses in which private investors and governments are in partnership. In other words, these are ventures which are set up by government in collaboration with private firms. One of the major…
CO-OPERATIVE SOCIETIES
A co-operative society is defined as a voluntary business organisation in which a group of individuals with common interest pool their resources together to promote the economic welfare of their members in production, distribution and consumption of goods and services.…
BALANCE IN NATURE
FACTORS AFFECTING A POPULATION A number of factors referred to as environmental resistance control the population of organisms in a particular habitat. These factors are classified as abiotic and biotic factors. Abiotic Factors Affecting a Population Heat: The degree…
ECOLOGY OF POPULATION
ECOLOGICAL SUCCESSION Ecological succession is defined as the orderly series of changes occuring in plants and animals or microbial communities over a period of time, resulting in the establishment of a final, stable and climax community. In other words, this…
AQUATIC HABITATS
Aquatic habitat is a body of water in which certain organisms live naturally. In other words, aquatic habitats are habitats or places that relates to lives in water. Organisms that live in water are called aquatic organisms. Examples of aquatic…
COLONIAL ADMINISTRATION
Colonialism is defined as an imposition of a more developed culture over a less developed one, backed up by expansionist and economic adventurism. European capitalist countries established political, economic, military and cultural hegemony over other parts of the world which…
EFFECTIVE PRAYER
(James 1:2- 8, 5:13- 18) Prayer is a means of communicating with God. Prayer is very important in the life of a Christian. It is the means of interacting with God and it also serves as a weapon of defence…
FAITH AND WORK
(James 1:22-27, 2:14-26) ST. JAMES TEACHING ON FAITH AND WORK Faith means trust or belief. St. James, in his epistle, admonished Christians who genuinely believe in Jesus Christ to reflect their belief and faith in their lifestyle. This means…
THE FRUIT OF THE SPIRIT
(Galatians 5:19 – 25, Acts 2:38, Romans 10:9-10) Fruit in the biblical concept refers to human conducts. Fruit of the spirit are godly conducts and those of the flesh are ungodly. THE FRUIT OF THE FLESH (Galatians 5:19 –…
PUBLIC CORPORATION
Public corporation, also known as public enterprise or statutory corporation, may be defined as a large scale business organisation set up, owned and financed by the government of a country mainly to provide services to the members of the public.…
SPIRITUAL GIFTS
Different Types of Spiritual Gifts 1 Corinthians 12:1-31 Spiritual gifts are the special spiritual endowments given by the Holy Spirit upon the various members of the church for the common good of the church community. Essentially, the Church of Christ…
FORGIVENESS
Philemon 1 Forgiveness literally, implies having no more wish to punish someone for an offence earlier committed; or simply, to show mercy to someone, no longer having ill-feelings towards him. In the New Testament of the Holy Bible, forgiveness is…
HUMILITY
Philippians 2:1-11; 1 Peter 5:5-11 Humility, simply put, is that state of mind depicting a modest opinion of oneself. It is one of the greatest attributes of a christian, without which one’s claim to be in Christ is not genuine.…
JESUS THE SON OF GOD AND CHRISTIANS AS CHILDREN OF GOD
Galatians 3:23-29; 4:1-7 In several places in the New Testament, Jesus is referred to as the Son of God. For example, at his baptism, God’s voice declared: “This is my beloved son in whom I am well pleased”. Again, during…
NEW LIFE IN CHRIST
Romans 6:1-4, 12-14; Colossians 3:1-17 Paul’s idea of a new life in Christ is that some virtues ought to distinguish someone who says he is living such a life. He also lays emphasis on the sacrament of baptism, a rite…
LAW AND GRACE
Law in the context of religion means a body of God’s instructions ordinances, statutes and commandments, as presented through prophets or holy persons, aimed at guiding man in his relationship with God and his fellow man. The concept of law…
CLASSIFICATION OF PLANTS
Plants are generally classified based on three major criteria. These are: Botanical classification. Agricultural classification. Classification based on life cycle. BOTANICAL CLASSIFICATION OF PLANTS Plants are generally classified through the botanical method and the use of binomial system. The…
PRESSURE GROUPS
Pressure group is defined as organised groups, which influence government decisions socially or economically, without necessarily entering into election activities for the control of government. In doing this, they influence the executive, legislature and other officials of government to achieve…
PUBLIC LIMITED LIABILITY COMPANY (OR JOINT STOCK COMPANY)
A public limited liability company is defined as one which by its articles allows the public to subscribe for its shares, must have a minimum of seven persons but no maximum number is prescribed, allows the shares to be transferred…
PRIVATE LIMITED LIABILITY COMPANIES
A private limited liability company is defined as one which by its articles restricts the right to transfer its shares, limits the number of its shareholders from two to fifty, prohibits any invitation to the public to subscribe for its…
LIMITED LIABILITY COMPANIES
DEFINITION OF A COMPANY A company can be defined as a legal person or entity created by the association of a number of people in accordance with the law for the purpose of pooling their capital together in order to…
JUSTIFICATION BY FAITH
Literally, the word- Justification means pronouncing a culpable or guilty person innocent, hence, scrapping whatever punishment such a guilty fellow would have faced because of the offence he committed. “Justification By Faith” therefore, as it concerns man Biblically, implies that…
MISSION TO THE GENTILES
In those days, whosoever was not a Jew was designated a Gentile. Jews regarded Gentiles as outcasts and sinners. No form of communication whatsoever was allowed between the two set of people. However, any Gentile who wished to embrace the…
THE RULE OF LAW
The rule of law is defined as the supremacy of law over everybody in a political system. Rule of law is seen as a provision made by the constitution with emphasis on supremacy of the law, equality before the law…
THE PARTNERSHIP
A partnership may be defined as a type of business organisation in which two to twenty persons agree legally to set up and manage a business outfit with the sole aim of making profit. Partnership is usually formed by an…
OPPOSITION TO THE GOSPEL MESSAGE
Acts 4:1-31, 5:17-42; 6:8-15; 7:1-60; 9:1-2; 12:1-24 As earlier mentioned, the Jewish religious leaders did all within their power to stop the spreading of the gospel. But the more they fought the disciples, the more zealous and determined the disciples…
FELLOWSHIP IN THE EARLY CHURCH
The arrival of the Holy Spirit gave rise to the aggressive spread of the gospel. This period therefore marked the beginning of the early churches in Judea, Samaria and other parts. Those first few years of the church were marked…
SOLE PROPRIETORSHIP
Sole proprietorship may be defined as a form of business enterprise owned, financed and managed by one person with the primary aim of maximising profit. The sole proprietorship, also popularly referred to as one-man business, is the oldest and the…
MASS MEDIA
It is the totality of means of communication within a society, state, etc ., such as television, Film production, radio, newspaper, magazine and internet including news-letter in which messages, news and information get across the population, government and it’s agencies.…
PUBLIC OPINION
Public opinion may be defined as the belief, values and attitudes, which are commonly held and expressed by the majority of the people on a given public issue. In addition, it is about what people think concerning a particular national…
Study Guide
