Chapter One — 1.1 Background to the Study

Over the past decade, the relationship between social welfare policy and quality of life of the elderly has become a subject of considerable debate among scholars and industry practitioners alike, particularly within the context of Selected Deposit Money Banks in Nigeria where operating conditions differ markedly from more developed markets.

Selected Deposit Money Banks in Nigeria presents a useful setting for examining this relationship precisely because the conditions there — structural, regulatory, and behavioural — differ from those typically assumed in the broader literature, most of which draws on evidence from more developed economies.

1.2 Statement of the Problem

While social welfare policy is widely discussed in policy and industry circles, empirical evidence on its actual effect on quality of life of the elderly within Selected Deposit Money Banks in Nigeria remains sparse and, in places, contradictory. This lack of localized, rigorous evidence makes it difficult for decision-makers to know with confidence whether current approaches to social welfare policy are helping or hindering quality of life of the elderly — a gap this study sets out to close.

1.3 Objectives of the Study

1. To examine the effect of Social Welfare Policy on quality of life of the elderly in Selected Deposit Money Banks in Nigeria.
2. To assess the extent to which social welfare policy influences quality of life of the elderly within the study area.
3. To identify the challenges associated with social welfare policy in relation to quality of life of the elderly.
4. To recommend strategies for optimizing social welfare policy in order to improve quality of life of the elderly.

1.4 Research Questions

1. What is the effect of social welfare policy on quality of life of the elderly in Selected Deposit Money Banks in Nigeria?
2. To what extent does social welfare policy influence quality of life of the elderly within the study area?
3. What challenges are associated with social welfare policy in relation to quality of life of the elderly?
4. What strategies can be adopted to optimize social welfare policy in order to improve quality of life of the elderly?

1.5 Significance of the Study

Beyond its academic contribution to the field of social work, this study has practical value for management teams within Selected Deposit Money Banks in Nigeria seeking to understand how social welfare policy translates into measurable outcomes around quality of life of the elderly. It is equally useful to students and future researchers looking for a localized empirical reference on this relationship.

1.6 Scope of the Study

The study is limited to an examination of Social Welfare Policy and its relationship with quality of life of the elderly within the context of Selected Deposit Money Banks in Nigeria. It reflects a MSc-level scope of analysis and relies on data and perspectives available within that scope; generalizing the findings beyond this specific context should therefore be done with appropriate caution.