Browsing by Author "Uchehara Chris Chigo"

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    Credit Risk Evaluation and Performance of Microfinance Banks in Ogun State
    (Accounting and taxation review., 2020) Uchehara Chris Chigo; Nkwoh Funke Motunrayo; Anuonye Ngozi Ben; Ngwama Justice Chidi
    Microfinance banks in most world economies are dominant as financial institutions providing loans to business owners compared to any other financial institution. However, credit provision requires due attention as credit risk management is one of the critical aspects and challenges faced by microfinance banks. This study examines the role of credit risk management on loan performance in microfinance banks in Ota, Ogun State, Nigeria. The study adopted survey research design and data were collected through a well-structured questionnaire. Purposive sampling technique was adopted, and a sample size of two hundred respondents was drawn from the selected banks in Ota. Data were analysed through the aid of statistical package for social sciences (SPSS), and linear regression was used as a statistical tool for analysis (R=.455; R2=.207 and R Adj.=.202). From the results above, the study revealed that there is a significant relationship between credit risk evaluation and loan performance. The study concludes that proper credit evaluation in microfinance banks is necessary. Therefore, the study recommends that the board and management of microfinance banks in Nigeria should ensure that the implementation of the appraisal process is strictly adhered to without compromise when evaluating risks inherent in loans to their clients.
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    Ex-Raying Operations of Small Medium Scale Enterprises (SMEs) In Nigeria Business Environment: The Challenges
    (European Journal of Economic and Financial Research, 2021) Uchehara Chris Chigo
    Small and Medium Enterprises are expected to play a vital and vibrant role in the economic growth and development of Nigeria. Given the volatility of the Nigerian business environment, this paper ex-ray the operations of SMEs with a view to identifying challenges encountered in fulfillment of their expected roles. Several literatures on SMEs were reviewed along with a survey research design that sampled a total of one hundred and thirty-eight (138) respondents by means of self-completed questionnaire; selected from four strategic locations in Lagos State. Data were collected on possible issues affecting the operations of SMEs ranging from high borrowing rates, high loan requirements, government when making policy, documentation, collateral, entrepreneurial skills, business strategy to Infrastructural inadequacies. The data were analysed using the descriptive and inferential statistical tools. Result on challenges affecting SMEs operation was rated. The analysis of variances was applied to hypothesis testing. The result revealed that SMEs are constrained by inadequate funding and poor management. It was recommended that government should develop a lasting solution to the state of infrastructural deterioration especially electricity along with policies that can assist to cushion the bureaucracy in obtaining loans from micro finance banks.
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    Stock Exchange Market and Economic Growth Sustainability in Nigeria
    (Acta Universitatis Bohemiae Meridionalis, 2023-02) Uchehara Chris Chigo; Owoeye Segun Daniel; Olowookere Johnson Kolawole; Olabisi Jayeola
    This study examined the relationship between stock market and economic growth sustainability in Nigeria. The study employed Ex-post facto design. Secondary data were obtained from Central bank of Nigeria Economic and Financial Review fact books, Principal Economic and Financial Indicators, Security and Exchange Commission market bulletins, covering thirty years (1992–2021). The study adopted an econometric method of Auto Regressive Distributed Lag (ARDL). The measurements of Stock Exchange Market were Market Capitalization Rate (MCR), Value of Trade (VOT), Interest Rate (INTR) and the surrogate for dependent variable was Real Gross Domestic Product (RGDP). The study revealed that the market capitalization rate, value of trade and interest rate contributed to the sustainable economic growth in Nigeria. The significant and positive relationship between variables of stock market and sustainable economic growth depicted a motivating symptom for economy to annex stock markets measures to enhance sustainable economic growth. The study concluded that without active and efficient stock market activities, the Nigerian economic growth may not be sustainable. It is suggested that an urgent step be taken by the regulatory authority in Nigeria to re-direct energy to monitor the implementation of stock market measurements for improved sustainable economic growth.
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    The Challenges and Prospests of Forensic Accounting and Investigative Audit as an Effective Tool to Repositioning Nigeria Economy.
    (Lasu Journal of Accounting and Finance, 2019-12) Uchehara Chris Chigo; Ogbona Precious Ijeoma
    The study explores the prospect and challenges of forensic accounting and investigative audit as a tool for repositioning the Nigerian economy. The study was carried out among these stakeholders; internal auditors, and external auditors of the four selected industries (Cadbury Nigeria Plc, First Bank Plc and PricewaterhouseCoopers and NPA) in Lagos State. A total number of one hundred (100) questionnaires copies were administered to the respondents. Results show that Forensic accounting is an indispensable practice that requires adoption in the drive towards repositioning the Nigeria economy. Forensic accounting and investigative if rightly explored has the potentials of uncovering financial misdeeds, fraud and misappropriation at any point in time. Based on these findings, it is recommended that emphasis on the practice of forensic accounting and investigative audit in both private and public sector of Nigeria should be on the basis of its viability in assisting towards reducing the growing financial malpractices and its associated crimes in Nigeria. In addition internal audit activities should be regulated to ensure compliance with forensic accounting and investigative audit standards so that fraud and other associated corrupt practices can be reduced.
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    The Challenges Confronting Public Sector Accounting and Financial Management: A Perspective of Professional Accounting Practice in Nigeria
    (European Journal of Management and Marketing Studies, 2017) Uchehara Chris Chigo; Ogbonna Precious Ijeoma
    The public sector is that sector of the economy that is organised and operated by the government, to cater for the citizenry and composed of ministries, parastatals, Agency & municipal. It is distinct from the private sectors that are built on profit orientation. Public sector accounting system is unique and meant to record all financial information and transaction of government activities and transaction. It is described as a process of recording, communicating, summarizing, analyzing and interpreting government financial statement Adams (2004) and as the value of monitory operations increase, there became the need to introduce professionalism in financial reporting. This was to curb financial statement anomalies, falsification and engineering that became the other of the day in recent time of which both directors, administrators, top political personalities and professional accountants and auditors were indicated, which calls for over haul of the public sector financial administration and the need for adequate capacity building within the two major accounting professional bodies ICAN and ANAN and the recent recognition of CPA Nigeria in the sector. Chi square was used to test the validity of the research hypothesis which reveals that challenges confronting public sector has impact on financial statement which is alternative hypothesis (HI). A simple questionnaire were administered to collect data used for analysis, the study investigated the respondents on five characteristics namely Gender, Age group, Highest level of Education, Professional qualification to mention, which O cells (0%) have expected frequency of 21.8 while b. 0 cells (0%) have expected frequencies less than 5, and the minimum expected cell frequency 43.5. It was revealed that public sector accounting and financial administration has witnessed a lot of storm of financial mismanagement, maladministration, and financial re-engineering which has devastated the economy and made many citizen unemployed, hungry and unstable. It was recommend that there should be adequate capacity building with the professional accounting bodies with a good system of financial administration reform with global policy such as IPSAS backed with restructure of procedure to strengthen professional independence as to ensure accountability.