TIMBOU-AFRICAN ACADEMIC INTERNATIONAL JOURNAL OF FINANCIAL RESEARCH AND MANAGEMENT SCIENCE (TIJFRMS)
VOL. 11 (7) NOVEMBER, 2022 EDITION. ISSN: 2773-1040
TIMBOU-AFRICAN ACADEMIC PUBLICATIONS,
Centre for African Development Studies, Federal Ministry of Education, Abuja, FCT-Nigeria.
QUALITY OF MANAGEMENT OF OFFICE FORMS, STATIONERIES, RECORDS AND EQUIPMENT AMONG CLERICAL STAFF IN EDUCATION BOARDS IN KEBBI STATE, NIGERIA
PROF. SANI DANTANI MANGA
Educational Management Unit, Department of Educational Foundations, Usmanu Danfodiyo University, Sokoto, Nigeria
This study investigated the quality of management office forms, stationeries, records and equipment among clerical staff in education boards in Kebbi State. A descriptive survey design was used for the study. Out of a total population of 156 subjects, a sample size of 112 participants comprising 68 clerical staff and 44 senior administrators were selected using purposive, stratified and simple random sampling techniques. A self-designed, structured, expert validated questionnaire titled: “Quality of Management of Office Practice Questionnaire” (QMOFPQ) based on a five-point scale was used to collect data. The instrument was pilot tested using test re-test method. A reliability index of 0.83 was obtained using Pearson Product Moment Correlation Co-efficient at 0.05 level of significance. All the 160 copies of instrument administered were retrieved and analyzed using simple frequencies, percentages and grand mean. It was found that the quality of management of office forms, stationaries, records and equipment among clerical staff in education boards in Kebbi State was low and not satisfactory. It was therefore recommended that clerical staff should be involved in the design and production of office forms, procurement of office stationaries, be held accountable for updating and preserving office records as well as be given the opportunity to update their knowledge of use of modern office machines and equipment.
Keywords: Quality, Management, Office Forms, Stationeries, Records, Machines, Equipment
IMPACT OF WORK LIFE BALANCE ON ORGANIZATIONAL PERFORMANCE DURING COVID-19 ERA IN ECO BANK PLC AKURE
*BABATOLA, FELIX AKINLADE; **OLAGOKE, DOLAPO PETER; ***IDOWU, MOBOLAJI AJIKE; & *OLUWATUSIN, JAMES ADEKUNLE
*Business Administration Department, Joseph Ayo Babalola University, Ikeji-Arakeji, Osun State, Nigeria. **University Library, Joseph Ayo Babalola University, Ikeji-Arakeji, Osun State, Nigeria. ***Accounting Department, Joseph Ayo Babalola University, Ikeji-Arakeji, Osun State, Nigeria
The study investigated the impact of work life balance on organizational performance during covid-19 era in ECO bank Plc Akure. The population of study 40 staff members of Eco Bank Plc, Akure, Ondo State and due to small number of the population the study used consensus sampling technique which considered the whole population as the sample size. The method of data collection used was primary source of data and Chi square was adopted as statistical tool in testing the research. 40 copies of the questionnaire were retrieved and used for analysis of the study. The findings of the study revealed that employees of the bank work from home and do their job during covid-19 pandemic era in Eco bank plc which the bank usually send the job to be done on daily basis. The result of the findings showed that employee of the bank the pandemic era as compulsory leave and relief of job stress where employee work from comfort of their home with less work and no overtime and they do what is needful for the bank. The bank was able to hold meeting with their employees and gave them training as well as monitoring their activities remotely which enhance their efficiency and effectiveness during the covid-19 pandemic era. The result from the hypothesis of the study revealed that working from home has significant effect on customer satisfaction (χ2 Cal) of 31.250 > (χ2 Tab) of 9.54 at 5% level of significance. Also, remote working has significant effect on effectiveness and efficiency (χ2 Cal) of 11.000 > (χ2 Tab) of 9.54 at 5% level of significance during covid-19 era in ECO bank Plc Akure. The study concluded that working from home contributed to customers’ satisfaction during covid-19 era. The study also covid-19 during remote working of employees of the bank promotes the effectiveness and effectiveness as well as giving them room for employees to have time for themselves and family covid-19. The study recommended that employees should try as much as possible to perform their work with little or no supervision since they can work independently.
Keywords: work life balance, Covid-19 era, Organizational performance, job stress, remote working, customer’s satisfaction
IMPACT OF NEW PRODUCT DEVELOPMENT ON ORGANIZATIONAL PERFORMANCE. A STUDY OF NIGERIAN BOTTLING COMPANY, ENUGU, ENUGU STATE
DR MELLETUS UCHECHUKWU AGBO
Department of Business Administration, Caritas University, Amorji Nike, Enugu, Enugu State, Nigeria
The study determined the impact of new product development on organizational performance of the Nigerian bottling company, Enugu, Enugu state. Having analyzed the distributed 93 questionnaire to staff of Nigerian bottling company, Enugu, Enugu state, descriptive survey approach was adopted and analyzed using regressions with the help of SPSS version 22.0. The findings indicated positive and significant impact of new product quality on profitability of Nigerian bottling company, Enugu, Enugu state. Also there is positive and significant impact of new product design on efficiency of Nigerian bottling company, Enugu, Enugu state. The study concludes that introduction of new products/services was realized through either bringing on board brown sugar, using byproducts after extraction of sugar except for mumias where extra products like water bottling and ethanol was realized. The study recommends that Breweries should always analyze their environment through research in order to identify new market opportunities to develop appropriate products to meet the changing needs and wants of customers. Secondly, Nigerian bottling company, Enugu, Enugu state should ensure that the quality of their products meets the expectation of their customers in the local and international markets since their product quality is a strong and significant factor in the firms’ marketing strategy and performance.
Keywords: Organization, Performance, Productivity, Profitability and Profitability.
THE ELECTRONIC FILING TAX SYSTEM; A CRITICAL INTERVENTION TO TAX RESISTANCE
MOHAMMED JIBRIN; ABDULKADIR ABUBAKAR; & SHAMSUDEEN LADAN SHAGARI
Department of Accounting, Bauchi State University, Gadau, Nigeria
The malfunction of the manual filing tax system in meeting the reasonable expectation of taxpayers in filing their tax reports has fuelled the need for the use of an electronic filing tax system in Nigeria particularly in Plateau state. The primary purpose of this study is to assess an in-depth the relationship between tax resistance and e-filing tax system. The study used survey research design in which quantitative data had been collected. Primary data had been obtained by use of structured questionnaire in which it’s contained both open-ended and close-ended questions. Respondents of this study were taxpayers who are familiar with e-tax filing system. A sample size of 469 respondents had been selected from registered taxpayers. The data were screened using the Statistical Package for Social Science (SPSS v25) and analyzed using the PLS-SEM v0.4. Results of the research variables had been described, correlation and regression analysis had been conducted, and Hypothesis and Data validity had been tested with composite reliability. The direct result revealed that perceived credibility and internet familiarity skills have a significant and positive effect on tax resistance while perceived compatibility has a significant negative effect on tax resistance. The implication of these findings is that acceptance of electronic-tax filing system is an excellent way of minimizing the incidence of tax resistance at a least cost. The study concluded that there are some serious challenges with the manual system of filing a tax and that electronic-tax filing system could reduce these problems to a large extent. The study recommends tax authority in board Federal Inland Revenue service and state board of internal revenue to embark on intensive and increased sensitization of taxpayers to make them conscious of the e-tax filing system, how it works and the benefits of using it so that taxpayers can understand and appreciate it effectively. The tax authority should regularly be involved in capacity building, holding training & seminars nationwide on the e-tax filing process. F.I.R.S, state board of internal revenue and tax consultants should undertake thorough taxpayer education from high school level so that taxpayers gain knowledge and understanding of the e-tax filing system, appreciate it and be able to comply with the tax responsibility.
Keywords: Electronic-Filing, Tax System, Tax Return, Electronic-Tax, Taxpayer
QUALITY OF MANAGEMENT OF OFFICE CONDITIONS, CORRESPONDENCE, FILES AND ACRONYMS AMONG CLERICAL STAFF IN EDUCATION BOARDS IN KEBBI STATE, NIGERIA
PROF. SANI DANTANI MANGA
Educational Management Unit, Department of Educational Foundations, Usmanu Danfodiyo University, Sokoto, Nigeria
This study investigated the quality of management of office physical conditions, correspondence, files and acronyms among clerical staff in education boards in Kebbi State. A descriptive survey design was used for this study. The total population of the study was made of up 156 subjects out of which a sample size of 112 participants comprising of 44 senior educational administrators and 68 clerical staff were selected from four education boards using deliberate stratified and simple random sampling techniques. A self- designed, structured questionnaire titled: Quality of Management of Office Practice Questionnaire” (QMOPQ) was used to collect data. The 31-item instrument with four sections was based on five-point scale to measure extent of quality. The instrument was pilot tested using test re-test method and Pearson Correlation which yielded a Co-efficient index of 0.83 at 0.05 alpha level. The data was analyzed using simple frequencies, percentages, and mean. It was found that the quality of management of office conditions, correspondence and acronyms among clerical staff was low and unsatisfactory. It was therefore recommended that strict supervision should be maintained to improve the quality clerical staff performance of their duties. Opportunities should be given for regular training and retraining as well as mentorship as to upgrade the quality of their skills and competences for effective office management.
Keywords: Physical Conditions, Correspondence, Files, Acronyms, Clerical Staff, Management, Quality
GROWTH DISPARITY IN AFRICA: ARE FINANCIAL DEEPENING AND STOCK MARKET DEVELOPMENT RESPONSIBLE? A CASE STUDY OF NIGERIA AND SOUTH AFRICA
*ADENIJI ABDULGAFAR A.; **EGWU DAVID; **ABBARETT F. MICCAH; & ***JOE BAKO GALADIMA
*Department of Economics, University of Nigeria, Nsukka, Enugu State, Nigeria. **Department of Social Sciences and Humanities Federal Polytechnic Offa, Kwara State. ***Department of Business Administration, Federal Polytechnic Offa, Kwara State
This study investigates the dynamic relationship between stock market development, financial deepening, and economic growth in Nigeria and South Africa between the years 1990 and 2020. The study shows that long run relationship exist between stock market development (proxy by MCP, TVS, TURN), financial deepening (proxy by Domestic credit to private) and economic growth (proxy by gross domestic product) in Nigeria and South Africa. It is concluded that there is unidirectional causality between GDP and TVS in South Africa while a bi-directional causality exists in Nigeria. Also, there is a unidirectional causality between GDP and TURN, GDP and MCP, and GDP and DCP in South Africa while a bi-directional causality exists between GDP and TURN and no causality between GDP and DCP in Nigeria. Based on the findings of this study, the study recommends that the current ongoing reform in the financial market sector of both Nigeria and South Africa should be sustained and maintained, this will foster the achievement of the objective of rapid and long-term growth in the country. Other capital market reforms include cutting intermediation costs and issuing new securities, as well as applying methods and tactics to strengthen and improve institutional derivatives trading oversight to make securities more desirable assets.
Keywords: Stock Market, Financial Deepening, Economic Growth
ROLE OF ENTERPRENEURSHIP ON THE PERFORMANCE OF GROSS DOMESTIC PRODUCT IN NIGERIA: AN ECM APPROACH
PAM DUNG FELIX; ATO IBRAHIM NDATSU; HASSAN ABDULAHI PAUL; CHRIS ALLISON-EMEKA OHA; AND KABIR RISQUOT MOHAMMED
Department of Economics, Air Force Institute of Technology Kaduna, Nigeria
This study examines the impact of entrepreneurship on the performance of gross domestic product in Nigeria for the period of 36 years (1984-2020). Secondary data were used for the study and were sourced from CBN statistical bulletin and the variables include credit to SMEs (CSM), percentage of commercial banks’ shares to SMEs (PCR), inflation rate (INR), interest rate (INT), and exchange rate (EXR). Given that the data for the variables are time series which are always not stationary, unit root test was carried out using Augmented dickey-fuller test. Next, Johansen co- integration was done for possible long run relationship among the variables. Thereafter error correction techniques (ECM) were also utilized to ensure that the aim of the study was maximumly achieved. As such, the ECM result revealed that, some variables such as CSM, PCR and INF exert significant positive impact on gross domestic product performance. However, INF was found to have no significant impact of GDP. Furthermore, INT, and EXR exerts significant negative influence on the GDP. In line with the findings, the study therefore, recommends that the government and the monetary authority should work on achiving a sustainable and statble macroeconomic environment in which entrepreneurs operates. Secondly, policies that encourage entrepreneurship needs to also be instituted. Thirdly, Banks should as well work out a window of opportnity of supporting SMEs with reasonable low interest loans, and perhaps with reasonable collateral conditions for entrepreneurs to easily access soft loans.
Keyword: Entrepreneurship, gross domestic product, inflation rate, small and medium enterprise, inflation rate
THE MACROECONOMICS OF INDUSTRIALIZATION IN NIGERIA
ADEGOKE BABATUNDE; ABDULKAREEM BIOLA RASHEED; & SOWO BABAWALE ADENIYI
National Productivity Centre, Kwara State Office
This study examined the effectiveness of macroeconomic policy mix on industrial output in Nigeria from 1981 – 2015. The theoretical relationship between macroeconomic mix and industrialization (or the real sector) was critically examined and established in the study. The researcher made use of six explanatory variables for his study. The ordinary Least Square was employed. The result revealed that there is no significant relationship between macroeconomic mix and industrialization and so, they have not been effective means of industrialization in Nigeria. The study strongly recommends that macroeconomic policy mix and focus should be redefined so as to bring about the desired industrialization, and technological development that Nigeria hopes for.
Key words: Industrialization, Macroeconomic, policy mix, Industrial output, Development, Ordinary Least Square, Technological Development, Nigeria.
BANKING SECTORS DEVELOPMENT AND FOREIGN DIRECT INVESTMENT IN NIGERIA, 1960 – 2021
*OYESIJI, YINUSA KOLAWOLE; **BELLO, ADELEKE HUSSEIN; *OLADEJI, EMMANUEL OLAYINKA; *SIKIRU, ISIAKA OLAWALE
*Banking and finance department, The Oke Ogun Polytechnic, Saki. **Accountancy department, The Oke Ogun Polytechnic, Saki.
Foreign Direct Investment in Nigeria has dropped by $325.82m in two year, according to data from the National Bureau of Statistics. This study intends to examine effect of banking sectors development on foreign direct investment in Nigeria. Data were source from word bank indicators (wdi) for this study. Autoregressive distribution lag (ARDL) was employed to analyse the data and the result revealed that A month lags of foreign direct investment (FDI), gross domestic product (GDP), inflation (IF) and real interest rate (RIR) have positive significant effect on foreign direct investment, Two months lag of FDI as positive significant effect on FDI while MS2 has negative significant effect on FDI, Three month lag of IF has negative significant effect on FDI, Four months lag of IF has positive significant effect on FDI and current year DCP has positive significant effect on FDI. It is recommended that the Central bank of Nigeria (CBN) should encourage all banks to grant more loans to domestic private sectors which in turn lead to increase foreign direct investment in Nigeria.
Keywords: Banking sectors, Domestic credit to private sectors, Foreign direct investment, Inflation, Real interest rate.
EMPIRICAL ANALYSIS OF TRADE INTEGRATION, MACROECONOMIC SHOCKS AND INDUSTRIAL GROWTH IN WEST AFRICAN MONETARY ZONE: EVIDENCE FROM PANEL VECTOR AUTO-REGRESSION
*OKORONKWO CHINONYEREM FAITH; **NWORU CHINWENDU; & ***VICTOR AKPULONU
*Productivity Capacity Building (PCB) Department, National Productivity Centre, Rivers State Office. **Corporate Affairs and Information (CAI) Department, National Productivity Centre, Rivers State Office. ***Productivity Capacity Building (PCB) Department, National Productivity Centre, Enugu State Office
In a global economy with growing interdependencies among economic sectors, firms and countries, trade and industrial development could be achieved through greater integration and liberalization. This paper sets out to analyze empirically the contemporaneous industrial interdependence and, transmission of trade and macroeconomic shocks in countries of the West African Monetary Zone (WAMZ), namely Gambia, Ghana, Guinea, Liberia, West African Monetary Zone and Sierra Leone. The aim of the paper is to examine industrial interdependence and, transmission of trade and macroeconomic shocks among the member countries. The paper utilizes quarterly data on trade openness, index of industrial production, foreign direct investment and international crude oil price. The paper adopts panel vector autoregressive model. The results of the Orthogonalized Impulse Response Functions (OIRFs) and Forecast Error PVARiance Decomposition (FEVD) are expected to reveal evidence of industrial interdependence and, transmission of macroeconomic and trade shocks among countries in the panel. It is hoped that the results would be suggestive of the extent and degree of industrial interdependence, macroeconomic and trade integration of the WAMZ countries over the sample period. The policy implication of the results is that common and country specific shocks would serve as a didactic policy guide for the countries towards implementing suitable industrial, trade and macroeconomic policies for attaining greater industrial growth.
KEYWORDS: Trade integration, Industrial Interdependence, Panel Vector Auto-regression
ENTREPRENEURIAL SKILLS REQUIRED BY RETIREES IN PROCESSING TIGER NUT MILK FOR PRODUCTIVE LIFE AFTER RETIREMENT IN IMO STATE, NIGERIA
1ROLAND OSAGIE O, 2UGODIEGWU, EKENE.J, 3OKWU, GOODLUCK C., 4OKONKWO, MARTIN O. AND CHUKWUKELU, I. S.
1National Productivity Centre, Kogi State Office. 2,3&4National Productivity Centre, Imo State Office Owerri.
The purpose of the study is to identify entrepreneurial skills required by retirees in processing tiger nut tubers into milk for productive life after retirement in Imo State. Descriptive survey design was used for the study. The study was carried out in Imo State Nieria. The population of the study comprises of all the lecturers in the departments of food and nutrition/ food science technology in Federal university of Technology Owerri. Imo State University Owerri, Federal Polytechnic Nekede, Alvan Ikeoku College of Education Owerri and home economics teachers in the 456 public secondary schools in Imo State. Simple random sampling techniques was used to select 45 lecturers and 105 teachers from schools in the urban areas of Imo state (Owerri, Orlu, Oguta and Okigwe). Data was collected with the use of a skill structured questionnaire tittles Entrepreneurial Skills in Tiger Nut Processing (ESTNPQ).The instrument consists of 9 skill items in planning,11 skill items in processing and 10 skill items in marketing of tiger nut milk, making it a total of 30 skill items. The questionnaire has four-point response options of highly require (HR) averagely required (AR), slightly required (SR),and not required (NR) with corresponding nominal value of 4,3,2 and 1 respectively. Three experts validated the instrument. Data collected were analyzed using mean and standard deviation, while the hypothesis were measured using t-test at 0.05 level of significance. Mean less than 2.50 was regarded as not required, while items with mean value of 2.50 and above are required.Findings indicates that retirees requires 9 entrepreneurial skills in planning for tiger nut processing enterprise,11 in processing tiger nut milk and 10 in marketing.The researchers recommended that the identified entrepreneurial skills should be developed as a training manual for vocational training schools in the State.
Keywords: Entrepreneurial, skills, retirees,processing tiger- nut,
RELATIONSHIP MARKETING AND ITS IMPACT ON CUSTOMER DRIVE AND RETENTION MOTIVE OF DEPOSIT MONEY BANKS IN NIGERIA
BELLO, BABATUNDE SIKIRU; AND ABDULSALAM, ABDULMUTALIB ADINOYI
Department of Marketing, Federal Polytechnic, Bida Niger State
The banking industry and other financial institutions are competing among themselves hence, the need to strategize on how to retain as many good customers as possible. The Deposit Money Banks (DMBs) studied in this work are Zenith Bank and First Bank operating in Bida Town. The study is intended to determine the extent to which relationship marketing can influence customer drive and retention motives in Deposit Money Banks. Related literature was reviewed. The study used descriptive research design and simple random sampling method. The population for the study is estimated at 18,500 out of which a sample of 392 was taken via Taro Yamane formula. Close-ended questionnaires were administered. Descriptive and T-test statistics were used to analyze the data. A major finding revealed that quality service, good communication and trust influence customer retention in deposit money banks. The study concludes among others that relationship marketing in customer retention drive is very vital for firms to move beyond service delivery and satisfy both their existing and new customers. It was therefore recommended that management of banks should always emphasis on qualitative service delivery and not just service delivery by all staff to customers in order to achieve their customer loyalty and retention objectives.
Keywords: Relationship Marketing; Impact; Customer Drive; Retention; Motive; Deposit; Money; Banks.
EFFECT OF INVESTMENT PORTFOLIO ON INVESTORS’ WEALTH MAXIMIZATION OBJECTIVE
ADAMU USMAN YAME; & SADIQA BABALLE USMAN
Department of Business Administration and Management, Federal Polytechnic, Bauchi
The aim of this study is to analyze the behavior of investment portfolio and how it affects the wealth/returns of investment in Nigeria. The study hypothesis is on the relationship between investment portfolio and shareholders wealth maximization objective. In particular, the study evaluated how investor’s wealth could rise or fall as a result of the types of investment held in a portfolio. A judgmental sampling of investors was considered necessary. Investors were thus categorized into two major groups: Individuals/Corporate investor and institutional investors. The major finding of the study is that, there is a strong and positive relationship between investment portfolio and investors wealth. It is therefore strongly recommended that investors pay particular attention to the type of investments they hold in a portfolio, as this further increase/decrease their wealth.
Keywords: Portfolio, Investment, Wealth, Investors
EXCHANGE RATE VOLATILITY AND ECONOMIC GROWTH IN NIGERIA
Department of Banking and Finance, Abubakar Tatari Ali Polytechnic, Bauchi
This study examined the effect of exchange rate volatility on economic growth in Nigeria 2000 to 2021. The study adopted gross domestic product (GDP) as proxy for economic growth and the dependent variable; while trades balance (TBA), exchange rate (EXR) and inflation (INF) were used as the independent variables. Time series data were sourced from annual reports of Central Bank of Nigeria (CBN) Statistical Bulletins and National Bureau of Statistics covering the period. The study employed descriptive statistics and multiple regression techniques for the analysis of data. It was discovered that trade balance (TBA) has positive but insignificant effect on gross domestic product in Nigeria. Exchange rate (EXR) has positive and significant effect on gross domestic product in Nigeria. Inflation (INF) shows negative but significant effect on gross domestic product. It was recommended that appropriate monetary and fiscal policies should be used in order to achieve stable exchange rate in Nigeria. There is also a need for new economic policies on diversification from over dependence on crude oil exports and price monitoring in order to maintain stable of rate of inflation.
KEYWORDS: Economic growth; gross domestic product; exchange rate; inflation; trade balance.
THE IMPACT OF ENVIRONMENTAL ACCOUNTING ON FINANCIAL PERFORMANCE OF QUOTED COMPANIES IN NIGERIAN EXTRACTIVE INDUSTRY
Department of Accountancy, Federal Polytechnic Mubi
Environmental accounting is now widely accepted as a medium through which companies assess the impact of their activities on the environment and provide environmental performance related information to diverse stakeholders. But the main issue of concern is that environmental accounting is perceived as a voluntary disclosure in countries like Nigeria and as such those engaged in it, only disclose qualitative and positive statement about environmental performance. Previous studies examined disclosed that few companies in extractive industry (consisting of oil and gas, mining, quarrying,) provide quantitative and in monetary term their environmental performance. This study investigated how these reported environmental cost impact on their financial performance. Taking the environmental cost reported as the independent variable and Return on Capital Employed (ROCE), and Return on Assets (ROA) as the dependent variables to formulate hypothesis, which were tested on dada obtained from five (5) years published annual reports (2016-2021) of 12 quoted companies in Nigerian Extractive industry. Secondary data obtained was analyzed using descriptive statistics, ordinary least square regression, Durbin Watson statistics and correlation coefficient to assess the impact. It was found that environmental accounting has a negative impact on the financial performance proxies ROCE and ROA. As a results of environmental cost is statistically insignificant as it ranges from 1% – 30.6%. The study, therefore, recommends that the regulatory bodies should come up with a comprehensive and all-inclusive standard to guide on environmental accounting and its subsequent effect on financial performance of firms
KEYWORDS: Environment Accounting; Return on Assets; Return on capital employed; Performance; Extractive industry
INTERNAL AUDIT FUNCTION AND THE QUALITY OF FINANCIAL REPORTING ON DEPOSIT MONEY BANKS IN NIGERIA
JAMIL M.B AHMED1, MUKTARI YAKUBU2, JACOB TEMITOPE3,
1Accounting Department, School of Business Studies. Federal Polytechnic Bauchi State-Nigeria. 2Department of Economics, Faculty of Social and Management Sciences, Bauchi State University Gadau, Yuli Campus, Bauchi State-Nigeria. 3Department of Automobile technology, Faculty of Vocational and technology Education, Abubakar Tafawa Balewa University Bauchi- Nigeria
The paper investigates the effect of the internal audit function on the quality of financial reporting on deposit money banks in Nigeria, the population of the study was made up of 42 which gave a sample size of 38. Questionnaire method for data collection was utilized, questionnaires were distributed to the respondents. the data collected were analyzed and the result found out that the audit fees, audit tenure and the audit firm size have significant positive effect on the quality of financial reporting of deposit money banks (DMBs) in Nigeria. The study recommended that big audit firms, reasonable audit tenure, and audit fees should be encouraged to improve financial reporting quality. The study suggests that future studies should consider measuring financial reporting quality in terms of faithful representation, comparability, verifiability, and understandability of financial statements defined by the International Accounting standard Board (IASB). Where possible, they should consider using secondary data.
Keywords: Internal audit, financial reporting, deposit money bank, Nigeria.
IMPACT OF COMPLIANCE WITH FEDERATION ACCOUNT ALLOCATION COMMITTEE GUIDLINES ON THE FINANCIAL REPORTING
IRIABIJE EMMANUEL UAREME; AYANWUYI JOHNSON; & MUKTAR SHEHU TAHIR
The study examines the assessment of the impact of compliance with federation account allocation committee guidelines on the financial reporting. The objective of the study is to examine the impact of federation account allocation to Bauchi state government, the impact of compliance with allocation share from the federation account on growth and development of Bauchi state, evaluate the implementation of federal location account to the twenty local government councils of Bauchi state. Survey research design was the design used for the study. The study adopts stratified simple random sample as the sampling techniques. The population of the study was 74 staff randomly selected from the targeted population. The findings of the study show that there are impacts of federation account allocation in bauchi state government, the federal government and state government allocation shares from the federal allocation have impact on growth, there is growth evidence of Bauchi state government internally generated revenue, the federation account allocation have no impact on economic growth of Bauchi state base on the findings the study recommended that the government should adopt a new strategy that will ensure equity, and fair play in the distribution of national resources among the three tiers of government in Nigeria, the creation of effective and resourceful rules in regards of federation account allocation.
Keywords: Government, Allocation, Revenue.
THE IMPACT OF ENTREPRENUERIAL SKILLS ON FIRM PERFORMANCE IN NIGERIA
*CHRISTIANA L. I. TANZE; **OYIGBENU ZIPPORAH ELIJAH; & **ZHEBAGO EMMANUEL PETER
*Department of Accountancy, School of Administration and Business studies, Isa Mustapha Agwai 1 Polytechnic Lafiyai, Nasarawa state, Nigeria. **Department of Public Administration, School of Administration and Business studies, Isa Mustapha Agwai 1 Polytechnic Lafiyai, Nasarawa state, Nigeria
Manufacturing industries is one of the key economic drivers worldwide and entrepreneurial skills should be fully utilized well to ensure growth of these industries since the government has neglected many resources and concentrated on exploitation of oil. For a country to attain high entrepreneurialeconomy levels in terms of high net profit returns, salient dynamic features of these manufacturing industries should be addressed prompting this research which is seeking to establish the effects of entrepreneurial skills on financial performance of listed manufacturing industries in Nigeria. The study’s specific objectives are: to investigate the effect of resourcefulness on financial performance of listed manufacturing industries, to examine the effect of risk taking on financial performance of listed manufacturing industries, to determine the effect of creativity on financial performance of listed manufacturing industries and to investigate the effect of leadership skills on financial performance of listed manufacturing industries. The research will adopt a research design that is descriptive and a sampling method known as stratified random to get the sample size. The collection of primary data will be from direct responses from listed manufacturing industries by using structured questionnaire. The collected data was analyzed through Statistical Package for Social Sciences version 22. Descriptive and inferential statistics will be used in analyzing data where multiple regression and correlation analysis will be used to examine the influence of independent variables on the dependent variable.
Keywords: Entrepreneurial skills, Leadership skills Firm performance, Resourcefulness
EFFECT OF COMPETITIVE STRATEGIES ON GROWTH OF SMALL AND MEDIUM ENTERPRISES IN EAST-NIGERIA
MOHAMMED MUSTAPHA IBRAHIM
Department of Business Administration and Management, School of Management Sciences, Abubakar Tatari Ali Polytechnic Bauchi, Bauchi state, Nigeria.
The ever changing and turbulent competitive business environment pose major challenges to large auditing firms like any other organization in Nigeria and manager shave been struggling to compete favorably. The specific objectives of the study are to establish the effects product penetration strategy, product development strategy and market development strategy on the SMEs growth in north east, Nigeria.The study adopted a quantitative research with the specific research design being a cross sectional survey design. The population of the study was classified into five states in the north east Nigeria. The sampling frame was 180 SMEs arising five states of which a sample size of 123 SMEs were extensively surveyed to ascertain the impact of competitive advantage on growth of SMEs. The sampling technique used was stratified random sampling. Primary data was collected by use of questionnaires which were administered through drop and pick method. Data screening was done to identify any missing data and it was further tested for reliability and normality. Reliability was tested using Cronbach’s Alpha. Normality was tested using Kurtosis, Skewness and Kolmogorrov Smirnov (K-S) test. Outliers in the data were identified by use of a Stem and Leaf graph. Multicolinearity was also tested and all study variables were found to be free from any multicolinearity. Data was analyzed using SPSS version 24. Descriptive statistics e.g standard deviations and T-tests were used for preliminary tests. Inferential statistics such as Pearson’s correlation, ANOVA and multiple regression analysis were used for further analysis. The key findings were that competitive advantage had a positive influence on the growth of SMEs in north east Nigeria. The study recommends managerial and policy adjustments in line with strategic management practices to enhance competitiveness of SMEs in the north east, Nigeria.
KEYWORDS: Competitive strategy, product development, SMEs
FINANCIAL INCLUSION, DUALISM AND ECONOMIC DEVELOPMENT IN NIGERIA: EVIDENCE FROM WARRI, DELTA STATE
ANUYA, DAVID ENASAVWERIE (PhD) 1 AND OLILI-UHRORHO ONOKURHEFE 2
1Department of Banking & Finance, Delta State Polytechnic, Otefe-Oghara. 2Department of social sciences, Delta State Polytechnic, Otefe-Oghara.
This study investigates the effect of financial inclusion, financial dualism on economic development in Nigeria. Data used are primary through structured questionnaire administered to 80 micro, small and medium scale businesses in Warri, Delta State. Data are analyzed by OLS technique using SPSS version 20. Using the measurement of access to financial services, usage of financial services, quality of financial services and interest rate, the results revealed that economic development is positively related to access to financial services, usage of financial services and quality of financial services but it is negatively related to interest rate. This implies that although micro, small and medium scale businesses are largely included in the formal financial systems in the form of access to a bank account, they cannot access loans from the formal sector due to long and difficult procedures and high charges associated with such financial services. We therefore recommended that financial institutions in Nigeria need to consider reducing their interest rate on lending to attract borrowing by the poor and the micro, small and medium scale businesses so as to boost development in the economy.
Keywords: financial inclusion; financial dualism; economic development; and SPSS
CORPORATE REPORTING IMPORTANCE AND THE EASE OF DOING BUSINESS IN NIGERIA
GAD BHILIPNANDI EMMANUEL
Department of Accountancy, Federal Polytechnic Bali, Taraba State, Nigeria.
This paper will ex-ray the important of corporate reporting in Nigeria. Also, concentrating on the assessment of some relevant issues that will give a clear understanding on the nature of starting or doing business in Nigeria. The key issues to look at are the main users of corporate reporting, the main providers of funds for business, government legal system, the role of legislation, the development and implementation of local and international accounting standards, task of the professional bodies, the influence of religion and culture on the economy, corporate social responsibility(CSR)and inflation/deflation. All these factors are essential towards providing a clear picture of the economy in Nigeria to provide potential investors making decision on expansion to Nigeria.
Keywords: Corporate reporting, Importance, Ease of doing business
IMPACT OF OPERATIONS MANAGEMENT STRATEGY ON ORGANIZATIONAL PERFORMANCE OF NIGERIAN MANUFACTURING INDUSTRY: MEDIATING EFFECT OF ORGANIZATIONAL COMPETENCE
OYEWOLE F.A1; ADEYEMI, M. A2; OYENIYI, K.O2; & OLA, TIMOTHY OLALEKAN2
1Department of Procurement and Supply Chain Management, Osun State Polytechnic, Iree, Osun State, Nigeria. 2Department of Business Administration and Management, Osun State Polytechnic, Iree, Osun State, Nigeria
The Nigerian manufacturing sector has been plagued by a series of issues that have continued to impact productivity and profitability due to the unfavorable macroeconomic conditions coupled with the outbreak of the COVID-19 pandemic, which has become a global concern. This current study, therefore, examines the mediating effect of organizational competence on the relationship between management strategy and organizational performance in the manufacturing industry. A judgmental sampling approach was used to select the Procter & Gamble Company, but using a simple random sampling technique to select 252 respondents from a total population of 2,878 employees. Data were collected from respondents using a structured questionnaire. Data analysis was performed using structural equation modeling. The results show that supply chain strategy is positively and significantly associated with organizational competence, value proposition strategy, procurement strategy, facility management strategy, and organizational performance, whereas procurement strategy is associated with organizational performance but found not to be significantly related. Although the study also confirms that organizational competence does not mediate between supply chain strategy, procurement strategy, and organizational performance. Organizational competence is partly mediates between value proposition strategy and organizational performance, and perfectly mediates between value facility management strategy and organizational performance. Therefore, manufacturing sector should focus on making their procurement strategies more strategic so that the sector can control costs through careful forecasting, planning, budgeting, reporting, and monitoring.
Keywords: Competence, Value Proposition, Supply chain, Facility management, Procurement
STAFF-CUSTOMER RELATIONSHIP MANAGEMENT AND ITS IMPACT ON ORGANIZATIONAL IMAGE AND PERFORMANCE
KOCE, HENRY DIKO; & BELLO, BABATUNDE SIKIRU
Department of Marketing, Federal Polytechnic, Bida, Niger State, Nigeria
Building dependable and reliable relationship between staff and customers is of paramount interest to any business. Organizations have now come to the realization of the inevitability of good customer service relations, so customers constitute an indispensable asset. However, this paper will know how to custom management impacts on organizational image and performance and also analyze the impact of organizational culture organization and performance. In order to realize this objective given the research model, two hypotheses were formulated. Descriptive survey method that involves data collection from respondents with questionnaire was used for the study’s presentation. 345 questionnaires were duly filled and returned out of the 400 administered thereby bringing our sample size for the study to 345 respondents who are customers of at least, one of the two banks under the study. Questionnaires returned were analysed with statistical package for social science (SPSS). A major finding indicated that customer management has a significant impact on organization image and performance. Result of analysis indicated that customer management has a statistically significant impact on organization and performance while organizational culture has not yet any significant effect. The study recommends the need for organizations to improve on the culture in order to achieve greater performance and improved organizational image as it is believed that this will help in attaching more customers to strengthen the competitive positions of the organizations.
Keywords: Staff; Customer; Relationship; Impact; Organizational Image; Performance.
RISK MANAGEMENT STRATEGY AND ORGANIZATIONAL PERFORMANCE: EVIDENCE FROM NIGERIAN BANKS
*BABALOLA, O.A; **OLAOYE B.O; ***OLADEJI, A.A; ****TOGUN, O.R,
*Department of Banking and Finance, Osun State Polytechnic, Iree, Osun State, Nigeria **Department of Business Administration and Management, Osun State Polytechnic, Iree, Osun State, Nigeria. ***Department of Business Administration and Management Studies, the Polytechnic, Ibadan, Oyo State, Nigeria. ****Department of Accountancy, Osun State Polytechnic, Iree, Osun State, Nigeria
This study examines the effect of the risk management strategy on organizational performance with specific reference to the Nigerian selected banks. A sample of 150 staff members was conveniently selected from all the branches of the three selected banks in the Ibadan metropolis. The sample comprises 50 each from the banks. Consequently, 150 copies of the questionnaire were administered by the researchers to participants who volunteered to participate in the study. Pearson Correlation Coefficient and Path Analysis were employed to analyze the data. The results establish that risk management practices have a significant association with banks’ performance. Furthermore, results indicate that reveal that risk understanding, risk monitoring, and control, risk assessment and analysis, managing market risk, managing liquidity risk, and managing operational risk has a significant effect on a bank’s performance, while risk identification and managing credit risk is not significantly influenced organizational performance. The findings of this research study, therefore, seem to support the claim that risk management contributes significantly to the performance of some Nigerian banks. Therefore, banks should develop active risk management processes to identify, measure, monitor, and control various risks, including credit, market, liquidity, and operational risks, and hold capital against these risks. it is also very important to consider the CBN Risk Management Guidelines, the formation of a comprehensive risk management system in Nigerian banks is not only a useful exercise to meet regulatory requirements, but also an effective practice to improve the performance of banking institutions.
Keywords: Risk Identification, Risk monitoring, Credit risk, Operational risk, Performance
EFFECT OF CAPITAL MARKET ON ECONOMIC GROWTH: EVIDENCE FROM NIGERIAN STOCK EXCHANGE
IBRAHIM ISA YUNUSA
Department of Banking and Finance, Abubakar Tatari Ali Polytechnic, Bauchi
This study examined the effect of capital market on the Nigerian economic growth, evidence from the Nigerian stock exchange within the period 2001-2021. It further employed the ordinary least square method (OLS) in analyzing the time series variables obtained for the study. The findings show market capitalization, total number of deals in the stock exchange have positive but insignificant effect on GDP in Nigeria except all share indexes that the result shows positive and significant effect on GDP. It therefore recommended that there should be need for stock market operates in a macroeconomic environment. Government should subsidized impediments to stock market development also companies listed on the Stock Exchange should be mandated to provide timely electronic information on their operations.
Keywords: Gross domestic product; Market capitalization; Number of deals; All share index.