The Contribution Of The Informal Financial Institutions To The Growth Of Small Scale Enterprises In Nigeria.

CHAPTER ONE INTRODUCTION 1.1   BACKGROUND TO THE STUDY The economies of third world countries such as Nigeria operate with dual financial institutions. On one hand are group which function through direct governmental control known as Formal Financial Institutions such as Commercial Banks, Insurance Companies and Mortgage Banks. And on the other hand are those financial institutions which are not directly controlled by government, called Informal Financial Institutions such as money lenders, cooperative societies, thrift and loan societies, local bankers, cooperatives etc. It should however be …