Management of Projects and Resources in Nigerian Financial Institutions: Seed Capital Microfinance Bank Example

Abstract

Microfinance banks play essential role in the economic, social and infrastructural development of societies where they operate, as in Nigeria. The study aims at determining the extent to which projects and resources are managed in financial institutions in Nigeria, as in Seed Capital Microfinance Bank (Seed Capital henceforth), Yaba, Lagos. The study is anchored on Resources Based View Theory (RBVT), which holds that every organization has unique capabilities and resources that put it on the right track, if duly harnessed. Data were sourced using questionnaire, observation and library and internet secondary sources. Both qualitative and quantitative methods with their associated tools were employed for the analysis of the sourced primary and secondary data. The quantitative analysis reveals that public financial institutions in Nigeria do not manage their projects and resources adequately; the private ones do to a high extent, as typified by Seed Capital; and the extent of resource and project management in an organization determines its success, productivity, profitability, performance and so on. The qualitative analysis evidently shows the place of management in microfinancing, corporate affairs and governance, and highlights the essentials and the contributions of microfinance banks to society. The study concludes that the extent to which organizations manage their capabilities, resources and projects determines the extent of their success, productive dealings and goals realization, as evident in the case of Seed Capital Microfinance. It recommends significant involvement of project management professionals in financial, resource and project management of both public and private organizations.