2020 Archive
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Title: EFFECT OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARD (IPSAS) ON FINANCIAL REPORTS RELEVANCE AND FAITHFUL REPRESENTATION A STUDY OF KADUNA STATE.pdf Author: Martins A. Otuedon & College E. Ogodogun Abstract: The study was carried out to examine the effect of International Public Sector Accounting Standard (IPSAS) on financial reports’ relevance and faithful representation in Kaduna state. In carrying out the study, the Ex-post Facto research design was applied. This involved the examination of financial reports of Kaduna state for the periods 2015 to 2017 with 2016 as a timeline. Data analysis was done through content analysis, while the statistical tool of SPSS Multiple Regression technique was employed to test the formulated hypotheses. Findings revealed that the financial statements of Kaduna state exhibit the qualitative characteristics of relevance and faithful representation after the implementation of International Public Sector Accounting Standards accrual basis. It was therefore recommended that, other states that have not implemented IPSAS accrual accounting basis should do so in order to make their financial reports relevant for decision making and to faithfully represent what they purport to represent. View |
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Title: DATA MINING DETECTION AND FRAUD PREVENTION IN NIGERIA’S DEPOSIT MONEY BANKS.pdf Author: Ogbuehi Asite & Paago Ledibabari Abstract: Billions of funds are lost in Nigeria’s banking industry due to preventable fraudulent activities. Currently, data mining detection has become a veritable method to combat fraud and other akin activities. This research investigated the relationship between data mining detection and fraud prevention in Nigeria’s Deposit Money Banks during the period 2013 to 2017. Fourteen listed banks were sampled and analyzed using regression analytical tool contained in SDAT-MS Excel. The results obtained generally showed a positive and insignificant relationship between the variables under investigation. The study recommended amongst others that bank management should establish and adopt more scientific data mining detection methods like the use Artificial Intelligence (AI) to combat bank fraud in Nigeria. Keywords: Data mining, fraud prevention, audit committee, internal audit quality. View |
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Title: MONEY MARKET DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA FROM 1981-2016.pdf Author: Ajose Kehinde G. Adekunle Ahmed O. & Gbadebo Oketoyin A. Abstract: The financial market is an important place in most economies of the world, the primary aim of a financial market is to enable funds to be efficiently allocated from the surplus units of the economy to the deficit units for productive investment and economic growth and development. The money market have developed and functioned in a maladapted form that has not satisfy the basic demands for having such markets particularly the aspects of liquidity of financial instruments, mobilization and investment of funds to foster economic growth .This study empirically examines the relationship between money market and economic growth in Nigeria from 1981to2016.Secondary data used in this study were sourced from the publication of the Central Bank of Nigeria Statistical Bulletin and World Development Indicators from 1981to 2016. The Ex post factor research design was adopted. The money market development variables for which the data were sourced included treasury bill, monetary policy rate, deposit rate. Real Gross Domestic Product was used to proxy economic growth for the periods of study. Augmented Dickey Fuller (ADF) and Phillips Perron (PP) test of unit root were conducted to affirm the stationery of the series and guard against spurious regression outcomes from the times series data. The Bound co-integration test was also conducted to affirm the existence of co-integration among the variables in the long run while autoregressive distribution Lag model (ARDLM) was adopted to examine the short and long run effects of money market development on economic growth. Results showed that, in the long run, monetary policy rate and deposit rate recorded negative impact on RGDP while treasury bill rate had positive effect on RGDP . In short run, the result revealed that treasury bill had negative impact while monetary policy rate and deposit rate had positive impact on real gross domestic product. The study recommends that government should implement reforms that will enhance financial intermediation through stable and sustainable monetary policy followed by sound macroeconomic policies. Keywords; Money Market, Economic Growth, Authoregressive Distribution Lag Model. View |
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Title: EMPIRICAL ANALYSIS OF EMOTIONAL INTELLIGENCE ON LEADERSHIP PERFORMANCE IN THE NIGERIAN MANUFACTURING COMPANY.pdf Author: Ogundare Olusegun Samuel, PhD. Abstract: The modern business environment requires leaders to provide moral leadership that will be able to read their employees emotions and enhance their work related attitudes and performance. It is evident therefore that for leaders to succeed something more than academic qualification and experience is important. Emotional intelligence has been proven to be a major characteristics needed by leaders to succeed. This study will examine how emotional intelligence enhance leadership performance. Primary data was sourced through structured questionnaire. One hundred and twenty respondents were selected using simple random sampling technique, while one hundred and five questionnaires were properly filled and returned. Hypotheses was tested through Pearson product moment correlation and regression analysis respectively. The study revealed a relationship between emotional intelligence and leadership performance at 1% level of significance and that empathy has significant effect on employee commitment at 5% level of significance. The study recommended that leaders should be reminded through training and re-training of the fundamentals of emotional intelligence as an inevitable tool for a sterling leadership performance. Key word: emotional intelligence, empathy, employee commitment, self-regulations, motivation View |
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Title: INSECURITY OF JOBS AND FRAUD CASES FOR OUTSOURCED WORKERS IN THE NIGERIAN BANKING SECTOR.pdf Author: Onu Abara, George Charisma & Ouserigha Odaumiebi PhD. Abstract: The Nigerian banking sector has experienced a phenomenal increase in cases of frauds and forgeries since after the consolidation of banks in 2005. Bank examination Reports of the Nigeria Deposit Insurance Corporation shows that many of these cases are traceable to temporary employees who are outsourced. The focus of this study is to examine the extent to which job insecurity of the outsourced workers affects the rate of fraud and forgery practices in banks in Nigeria. Eight banks were randomly selected for the study from the 21 Money Deposit Banks in Nigeria. Using Raosoft calculator on sample size, the assumed population size 20,000 which gave rise to a sample size of 377. Out of the 377 copies of the questionnaire sent out, 324 respondents returned their fully completed. The study shows that job insecurity of outsourced staff significantly affects the increasing rate of forgery in the banking sector in Nigeria was accepted. Other finding show that fraud increases because of (1) payment of exploitative salaries, (2) exposure of outsourced staff to sensitive core banking jobs, (3) the need for the outsourced staff to save for ‘tomorrow’, (4) the perception by the outsourced staff that the system is wicked to them, and (5) the fact that the outsourced staff are not permanent employees of the banks make it difficult for the banks to discipline them. Key Words: Forgery, Job Insecurity, Motivation, Outsourcing, Banking Sector. View |
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Title: INFLUENCE OF ENTREPRENEURIAL PROGRAMMES ON POVERTY ALLEVIATION AMONG YOUTHS IN OSUN STATE NIGERIA.pdf Author: Oyeniyi Aderonke Agnes, PhD. Abstract: This study assessed the influence of entrepreneurial programmes on poverty alleviation among youths in Osogbo metropolis. Simple Random sampling technique was adopted to select the 120 respondents from the study population. The sampling techniques adopted give all element of the population equal opportunity of being selected. Data collected was analyzed, summarized and interpreted through descriptive. Descriptive Statistical techniques involving total score and simple percentage were employed. Each table was followed by logical explanations or interpretations of the results of the table. The technique used is regression analysis. The results reveals the contribution of entrepreneurial training programmes on poverty alleviation through Skill acquisition, Youth Empowerment Schemes, Education, Agriculture and social welfare service improvement will be much significant if entrepreneurship is encouraged at all level in the state especially at local and community level. Youth development and empowerment are vital stages in life for building the human capital that allows young people avoid poverty and live better life. Education and training helps individuals to be empowered and escape – poverty by providing them with the skills and knowledge to raise their output, income and wealth. The following recommendations are made; Entrepreneurship development should be inculcated into the school’s curriculum to promote human empowerment and development through entrepreneurial skill acquisition and training. There should be collaboration between small business entrepreneurs and research institution for exploitation and research findings of those institutions to achieve technology development. Keywords: Entrepreneurial Programmes, Poverty, Alleviation Youths. View |
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Title: SOCIO-ECONOMIC CONSEQUENCES OF MATERNAL MORTALITY ON A NATION.pdf Author: Jebbin Maclean Felix Abstract: Not only is maternal mortality a tragedy in itself, it also have some negative consequences on children survival, nutrition and their future prospect. The husband, the elderly and the economy is not spared of its deadly venom. Thus, this paper seeks to explore the socio-economic consequences of maternal mortality on a Nation. The paper adopted the desk research method, which involve review of existing literature in the area as to harness them and come up with some useful suggestions. The paper established that the death of a mother increases the children vulnerability to illness, death and poor feeding. The risk of dying is fifteen times higher on the part of children that loss their mother than those whose mother survived. The future human capital development of the child is hampered by the death of the mother and, family fragmentation is a times may be the end result. It reduces the labour force and consequently labour productivity which have an adverse effect on the nation’s economy. The paper concluded that maternal mortality has serious socio-economic consequences on a Nation and demand urgent attention. The following suggestions where put forward, skilled care before, during and after childbirth should be religiously implemented. Behavioural change for women should be encouraged, this can be facilitated with information about pregnancy, risks and healthy behaviours. View |
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Title: OIL PRICE SHOCKS ECONOMIC GROWTH AND HUMAN WELLBEING NEXUS IN NIGERIA.pdf Author: Bosede Akanbi & Mathew Adagunodo Abstract: The interactions between crude oil price shocks and economic growth have received a lot of attention of researchers. From early 1970s up till date, rising and falling in oil prices have characterized oil markets worldwide. These have had serious implications on the management of macroeconomic policies. The trends and fluctuations in oil prices have consequences for the general price level, the trade balance, domestic and international credit markets, and the exchange rate in the oil exporting African countries. A large body of existing studies has shown that oil price fluctuations have considerable consequences on the level of economic activity. The consequences are expected to be different in oil importing and in oil exporting countries. However, the extent to which impacts on growth have influence human wellbeing in Nigeria being one of the OPEC countries is yet to be determined. The main objective of this study is to examine the relationship among oil wealth, economic growth and human wellbeing indicator in Nigeria. The study utilized secondary sources of data and was sourced from the publications of Central Bank of Nigeria Statistical Bulletin (CBN) and World Bank’s World Development Indicators (WDI). In order to achieve the objective of this study, we carry out multivariate vector auto regression analysis. The results of the study can be expressed as follows. i) There was a statistically meaningful relationship among oil price shocks GDP and the human wellbeing indicator. While there was positive and significant relationship between oil price and economic growth, the impact of oil price on human welfare is too low. The economic growth has not really impacted on human welfare. There is evidence that oil price contributed little to human welfare in Nigeria. This study concluded that oil price -growth nexus in Nigeria is not growth inclusive as evidence in high level of unemployment rate and low real wage which worsen welfare situation in Nigeria. Keywords: Oil Prices, GDP, Human development index, VAR analysis, Nigeria. View |
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Title: STRATEGIC INTERMEDIATION FUNDAMENTALS AND MARKET MICROSTRUCTURE POTENCY IN THE NIGERIAN FINANCIAL SYSTEM.pdf Author: Prince Umor C. Agundu, PhD. & Valentine I. Osayi PhD. Abstract: Financial system frailties accounts for the poise of researchers to explore strategic intermediating factors, particularly in developing economies. To this end, market microstructure models tend to concentrate on institutional (unitary) conditions as against economy-wide (universal) environmental conditions. Conceptualized in terms of financial system efficiency, strategic intermediation fundamentals critically underscore the dynamics of institution design, process regulation, and overall market performance. Against this backdrop, this study examines strategic intermediation fundamentals and market microstructure potency in the Nigerian Financial System. Secondary data on the operational variables were derived from repositories of regulatory institutions such as the Nigerian Stock Exchange, Central Bank of Nigeria, and Securities and Exchange Commission, over a period of 32 years (1985-2016). A unique perspective of the time frame is the emphasis on national order by the new government in 1985 and restoration of macroeconomic discipline by the new government in mid-2015. Inferential (regression and causal) statistics are employed to ascertain functional significance at the 0.05 level. The results establish that the operationalized dependent variable (bid-ask-spread) has causal relationship with proxies of the independent variable (total number of new issues, market capitalization, market index, total value of transaction, exchange rate, treasury bill rate, and inflation rate). The study concludes that market microstructure potency has significant relationship with intermediation fundamentals in the Nigerian financial system. By this revelation, it is recommended that the regulatory agencies, in particular, should do more to strengthen governance frameworks in order to strategically deepen market integrity and sustainably boost investors’ confidence in the financial system. Keywords: Strategic intermediation fundamentals, Market microstructure, Nigerian financial system. View |
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Title: ACCOUNTING FOR ENVIRONMENTAL HAZARD THE IMPACT OF CLIMATIC CHANGE ON SHARE PRICE INDEX.pdf Author: Akan David Chuks, PhD. Abstract: There are many literatures on the effect of internal variables such as Earnings per share, dividend per share and Netbook value on the Equity prices of quoted banks in Nigeria. Some other studies investigated certain external variables such as inflation, interest rate and exchange rate on share prices; very little study both local and international focus on the effect that environmental hazard have on equity share price. This study therefore set out to access climate change and its influence on share prices of the Nigerian quoted banks. Nigerian average temperature was used to represent the weather while Share price index for Nigerian quoted banks was the dependent variable. Linear regression was applied and the result showed that temperature does not have a significant influence on the share prices of the Nigerian quoted banks. This however is not in line with the expected result; there might be need to combine other climatic factors. Key Words: Share price, Environmental Hazard , Temperature, Climate Change, Nigerian Quoted Bank. View |
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Title: THE EFFECT OF CAPITAL FLIGHT ON ECONOMIC GROWTH OF NIGERIA A SUSTAINABLE NATIONAL PRODUCTIVITY PERSPECTIVE..pdf Author: Obi Bridget Chika, PhD., Amadi Emeka & Okafor Linus C. Abstract: This study examined the impact of capital flight on economic growth of Nigeria from 1983 – 2017. This is to respond to the claims as to whether the huge outflow of capital from Nigerian economy over the years has actually translated to the growth of the economy. The study made use of time series secondary data with five explanatory variables (capital flight, net foreign direct investment, current account balance, net workers’ remittances and change in external reserve) and one explained variables (real gross domestic product) sourced from Central Bank of Nigeria Statistical Bulletin and World Bank Data Bank. Tests carried out include unit root test, cointegration test, and causality test while ordinary least square regression analysis was used to develop the models’ relationships. The study revealed that: there is significant inverse relationship between capital flight and economic growth of Nigeria, there is no significant relationship between net foreign direct investment, current account balance and economic growth of Nigeria, , there is significant inverse relationship between net remittances, change in external reserve and economic growth of Nigeria, The study recommends that citizens of Nigeria should learn to invest in the home country than to do same abroad and the cashless policy of Central Bank of Nigeria should be encouraged and implemented to check unnecessary money outflow from Nigeria. Keywords: capital flight, Economic Growth, foreign direct investment, current account balance and Productivity. View |
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Title: INFLUENCE OF FINANCIAL MANAGEMENT REGULATIONS ON MICROFINANCE BANKS SERVICES TO MICRO ENTREPRENEURS.pdf Author: John N. A, PhD., Abubakar, C. S., PhD., Alex I. PhD. & Lateef A. A, PhD. Abstract: Policy makers and scholars have shown considerable interest in microfinance banks services to micro – entrepreneurs because of their roles in national economic growth, especially in developing countries. This study investigated the influence of regulations on financial management in microfinance banks in Nigeria. Specifically, the paper examined working capital management, deposit mobilization strategies, and financial controls in microfinance banks. The study reviewed related literature and made use of primary data sourced form responses to questionnaires and interviews. Chi-square tests and correlation analysis were used to analyze the data. The findings revealed that p-value (0.041) is less than the chosen significant level of 0.05 implying that working capital is determined by relevant standards and regulations. Results also indicate that deposit mobilization strategy is determined by CBN’s regulations on deposits as p-value of 0.031 is less than the chosen significant value of 0.05. Also, with a correlation co-efficient of 0.90, and p-value of 0.037 (which is less than 0.05), result indicate that the number of MFBs with weak financial controls (WFC) is higher than those with Strong Financial Controls (SFC). The study concludes that the microfinance banks remained an important source of financial services to the micro entrepreneurs and regulations on their financial management practices significantly influence the financing decisions. The study therefore, recommends regular inspection and examination of microfinance banks to ensure compliance with standards and CBN’s rules on financial management practices. Keywords: Financial Management, Microfinance, Micro – Entrepreneurs, Financial Controls, Banking Reforms. View |
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Title: CAPITAL ADEQUACY AND CREDIT RISK OF QUOTED BANKS IN NIGERIA.pdf Author: Ikhenade F. A. Oserogho, PhD. & Vincent Erakpotobo, PhD. Abstract: Capital adequacy is a critical tool for minimizing banks vulnerability to crisis, in terms of financial health and stability. This study empirically examines the impact of capital adequacy on credit risk of 15 selected quoted banks in Nigeria over the period 2011-2017. Employing descriptive statistics, correlation analysis and panel data estimation technique, the empirical results show that strong capital base insulate bank from high credit risk (non-performing loans). Other variables found to be significant in reducing credit risk are bank size (proxied by bank total asset), board size (a corporate governance mechanism) and inflation rate, a measure of the stability of the macroeconomic environment. High inflation on the other hand is found to exacerbate credit risk of banks, as it accentuate the inability to pay back loans. Against the backdrop of these findings, we recommend amongst others; sufficient capital base for banks, increased size, particularly in terms of sound asset base and its efficient deployment and sound macroeconomic environment that minimizes the likelihood of credit risk of banks in Nigeria. This will in no doubt, help to reduce their vulnerability to financial crisis-situation, and consequently enhance their role for rapid national growth and development. Keywords: Capital adequacy, Credit risk, financial crisis, Panel Data. View |