Scholarly Works in the Department of Accounting and Finance
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Item Bank Privatization in Sub-Saharan Africa: The Case of Nigeria Deposit Money Banks (1980 – 2015)(The International Journal Of Business & Management, 2019-06) Oladiran Rotimi Williams; Enyi Patrick Enyi; Adegbie Fola FestusFederal-owned enterprises witnessed abysmal performance due to government bureaucracy, monumental waste, corruption and inefficiency. Economic reforms such as privatization, commercialization and liberalization were hereby proffered to address the aforementioned inefficiencies. Hence, this study investigated the impact of privatization on financial performance (return on equity) of selected deposit money banks in Nigeria (1980-2015). The study employed ex-post facto research design. Three banks were chosen from the target population of nine privatized deposit money banks, using purposive sampling technique, namely, FBN Plc, UBA Plc and UBN Plc. Data were sourced from publications of relevant banks’ annual reports, the NSE Factbook, and Bureau of Public Enterprises. Data were analyzed using descriptive statistics and panel regression analysis. The findings revealed that privatization components (Percentage Share privatized, Age of bank, No of Directors, Incremental asset size and Leverage) had significant impact on financial performance (return on equity) (Adj. R2= 0.463, F(5, 30)= 7.048, p<0.05), of selected deposit money banks in Nigeria. The study therefore recommended that government must ensure that civil order prevails and democracy thrives, so that collectively appropriate designed can be formulated and implemented to meet societal needs and achieve a sustainable future.Item Environmental Reporting and Performance of Nigerian Listed Oil and Gas Firms(Acta Všfs, 2022-02) Oladiran Rotimi Williams; Aransiola Solomon Yinka; Adenekan Damilola Gloria; Jayeola OlabisiThe study investigated the environmental reporting and performance of listed oil and gas firms in Nigeria. The study adopted an ex-post facto research design method using existing data from the financials of selected firms. The population of the study consisted of thirteen (13) listed firms as of 2021, out of which ten (10) were purposively selected based on the availability of annual reports and accounts. Secondary data were extracted and the results of the unit-roots test informed the adoption of Auto-Regressive Distributed Lag (ARDL) and Error Correction Techniques. The study found a positive and significant relationship between Environmental Management Cost (EMC) and ROCE (p<0.05), also a positive but insignificant relationship between Environmental Protection Cost (EPC) and ROCE (p>0.05). However, there was a negative and significant relationship between Environmental Research and Development Cost (ERDC) and ROCE (p<0.05). The study concluded that environmental accounting reporting contributed to the firms’ performance of Nigerian listed oil and gas firms. Therefore, these firms should be cost-effective and efficient when planning environmental activities to improve firms’ performance.Item 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 IjeomaThe 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.Item 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 ChidiMicrofinance 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.Item 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 JayeolaThis 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.Item 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 ChigoSmall 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.Item 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 IjeomaThe 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.Item Microfinance Bank’s Client-Enterprise Profitability And Loan Failure in Ogun State, Nigeria(International E-Journal of Advances in Social Sciences, 2019) Adu Cecilia Adurayemi; Owualah Ikechukwu Sunday; Babajide Ayopo AbiolaThe study investigated the client-enterprise profitability and loan failure of microfinance banks’ (MFBs) borrowers in Ogun State with a population of forty seven MFBs where twenty MFBs were selected as sample size for this study. The survey design was used through the administration of questionnaire. The linear regression method was used in analysing data and it was found out that effective monitoring and constant record checking were ensured by the microfinance banks’ staff that made the borrowers keep records of their business transactions through the positive correlation with loan size structuring, (X2 =171.859; pvalue < 0.01 and correlation coefficient =0.416; p-value <0.01); enterprise profitability further confirmed the highest hazard on period of default with further evidence from the Omnibus tests of model coefficients (X2 = 38.645, degree of freedom=5, P-value<0.001) as indicated in the statistical relevance of the model. It was recommended that there should be an interactive session (interview) between the loan manager and borrower for the establishment of facts stated in the loan request form; quality cash-flow analysis of the enterprises should be properly done before loan is granted to small and medium scale enterprises (SMEs) likewise there should be an effective monitoring of loan usage by monitoring team of the microfinance banks to avoid diversion.Item Microfinance Banks’ Loan Size and Default in Some Selected Microfinance Banks in Lagos State, Nigeria(International Conference on Education and Social Sciences, 2019-02) Adu Cecilia Adurayemi; Owualah Ikechukwu Sunday; Babajide Ayopo AbiolaThe study investigated the extent to which loan size has contributed to default rate of MFBs borrowers in Lagos State having a population of one hundred and seventy eight with a sample size of twenty microfinance banks located in the state capital. Two hundred copies of questionnaire were administered while one hundred and eighty two were returned for analysis using linear regression.It was found out that loan size and instalment size play significant roles in greater risk of default than lending rate. A unit increase in loan size and instalment size increases harzard ratio by 1 unit at 1 per cent level of significance. The result thus indicated unfavouarable survival rate for the micro finance clients which implies that the loan size could significantly result to increase in risk associated with client’s non -repayment. This shows that the effect of loan size and the instalment size during loan default is highly significant such that the higher the loan size and instalment size, the more the risk associated with it during a period of default. However, lending rate seems not to play a dominant role in influencing loan default though it could contribute to loan failure but not significant as expected. It was suggested that loan size should be based on certain percentage of a borrower’s net income.Item Banking Sector Consolidation and Stock Market Performance(International Journal of Behavioral Social and Movement Sciences, 2014-10) Adu Cecilia AdurayemiIn this paper, an attempt has been made to address the impact of banking sector consolidation on the stock market performance in Nigeria between 2001 and 2012.The introduction to the banking system in Nigeria was discussed, some literatures were reviewed ,past challenges in the capital market, consolidation exercise between 2004 and 2009 were looked into. The secondary source of data was used to analyze if there was any significant relationship between the banking sector consolidation and stock market performance before, during and after the consolidation exercise. It was concluded that banking consolidation policy on its own could not increase stock market returns but there must be adequate mix with other monetary and fiscal policy instruments to produce desired result.Item Welfare Funding and Cooperative Society in Nigeria: A Study of Crawford Cooperative Society(Crawford Journal of Politics, 2021-06) Adu Cecilia AdurayemiCooperative societies are social and voluntary organizations that accept and lend out funds to their cooperators at a minimal rate of interest with guarantors and not collaterals. This study examined Welfare Funding and Cooperative Societies in Nigeria with a study of Crawford Cooperative Society. The study used a sample size of 100 members from a population of 275 members. The study adopted the ordinary least square (OLS) regression as the statistical method to test the cooperative funding on individual's welfare in Crawford Cooperative. The study adopted OLS to measure the relationship between dependent and independent variables coupled with the Statistical Package for Social Sciences (SPSS) for the analysis of data. It was found out that there is a significant relationship between the cooperative funding and individuals' welfare in Crawford Cooperative and it was recommended that efforts should be made to maintain the interest on loan by the cooperative members so as not to affect their ability to pay back.Item Impact of Microfinance Banks on The Saving Habits of Rural dwellers In Igbesa, Ogun State. Nigeria (A Study of Lapo Microfinance Bank, Igbesa Ogun State)(Crawford Journal of Postgraduate Studies, 2021) Adu Cecilia AdurayemiThe study investigated the impact of microfinance banks on the banking habit of rural dwellers in Igbesa town in Ogun State, Nigeria. One hundred (100) customers were purposively selected. The sample was taken on a single day to avoid multiple representation of each element.The result of the study showed that microfinance bank services have positive relationship with savings habits of the rural dwellers in Igbesa, Ogun state. Specifically, Microfinance Bank services (β=321, p<05) had significant positive relationship with savings habit of the rural dwellers who operated bank accounts with the microfinance bank. The findings also showed that the availability of Microfinance Bank services could explain 10.3% of the possibility that the rural dwellers (bank account owners with the Microfinance Banks) chances of saving habits. Besides, Microfinance Bank services had a significance positive impact (F (1,83) = 9.559, p<. 05) on saving habits of the rural dwellers in Microfinance Bank customers. Additional Microfinance Banks should be made available in rural communities in order to encourage and improve the savings habits of the rural people.The study recommended that federal government should review the activities of microfinance banks because most microfinance banks have derailed from the core mandate. Services of the microfinance banks should be reviewed and improved to encourage more rural dwellers to patronize microfinance banks.Item Cashless Policy and Its Effects on the Nigerian Economy(European Journal of Business, Economics and Accountancy, 2016) Adu Cecilia AdurayemiThe paper discussed the effects of cashless policy on the Nigerian economy, how it was kick-started in Lagos, means of payments (both manual and electronic), positive and negative effects of cashless policy, benefits to the economy and stakeholders, suggestions were made to the Nigerian government on how to curb some of the negative effects and to improve on the implementation of the policy.Item Cooperative Societies in Nigeria: Prospects and Problems(International Journal of Behavioral Social and Movement Sciences, 2014-06) Adu Cecilia AdurayemiThis study examined the meaning of cooperative societies, types, formation, roles played by cooperative societies in the economic development of Nigeria, the problems faced by cooperatives and their prospects, brief history of how cooperative societies began and concluded by stating how government could be of help to the cooperative societies in Nigeria.Item Fraud: The Causes, Typologies, Monumental Effects and Combative Measures.(International Journal of Management, IT and Engineering, 2013) Adu Cecilia Adurayemi; Ojo Matthias Olufemi DadaIn this paper, an attempt was made to address the problem of fraud in our society. Definitions of fraud were given to explain its meanings to the understanding of the readers. Attempt was also made in highlighting and explaining the typologies of fraud which exist in the society and its causative factors were also examined. The monumental effects of fraud on the individuals, organizations and society at large were mentioned and thoroughly explained. The combative measure from the angles of protection and detection were also scrutinized. Finally, the paper recommends that corruption should be squarely tackled in our society and the combative measures should be adhered to by all the stakeholders, doing this, will go a long way in addressing the problem of fraud in our society.