TIMBOU-AFRICAN ACADEMIC INTERNATIONAL JOURNAL OF FINANCIAL RESEARCH AND MANAGEMENT SCIENCE (TIJFRMS)
VOL. 5 (7) MAY, 2021 EDITIONS. ISSN: 2773-1040
Published by:
TIMBOU-AFRICAN ACADEMIC PUBLICATIONS,
Centre for African Development Studies,
Ministry of Education, Abuja, FCT-Nigeria.
OIL RENT AND SOCIO-ECONOMIC OUTCOMES IN NIGERIA
MICHAEL AMAEGBERI, Ph.D; & WISDOM SELEKEKEME KROKEYI, Ph.D
Department of Economics, Faculty of Social Sciences, Niger Delta University, Wilberforce Island, P.M.B 071, Bayelsa State, Nigeria.
ABSTRACT
Data available indicates that Nigeria has received sizable revenue and resources from oil rent with no significant economic development. Hence, this paper empirically examined the impact of oil rent on economic development in Nigeria. The study utilized data from 1990 – 2018 and anchored on the Resource Curse theory. It employed both the Autoregressive Distributed Lag Model (ARDL) and the parsimonious error correction model (PECM). The error correction mechanism (ECM) of the ARDL models were employed to estimate the short run dynamic coefficients of the explanatory variables. The study revealed that oil rent has a positive and long-run relationship with GDP but negative and insignificant relationship with misery index in the short-run. In other words, despite the rent from oil revenue, misery index has continued to rise in Nigeria, though it increases GDP in Nigeria. The study concluded that the rents from oil increases economic growth and decreases the misery index in Nigeria. It is, therefore, recommended among others, that government should sustain export expansion of oil exploration and proceeds from oil be properly utilized for effective improvement of the misery index and economic growth in Nigeria.
Keywords: Economic Growth, Misery Index, Resource Curse, Socioeconomic, Oil Rent.
EMPIRICAL CONNECTION BETWEEN COVID-19 CASES AND OIL AND GAS STOCK INDEX IN NIGERIA: A VECTOR AUTOGRESSIVE (VAR) APPROACH
GBENGA FESTUS BABARINDE
Department of Banking and Finance, Modibbo Adama University of Technology, Yola, Nigeria
ABSTRACT
The oil and gas sector has found itself amidst the twin crises of COVID-19 and price war and these are perceived to impact sector’s stocks as listed on the Nigerian Stock Exchange. In this paper, Vector Autoregression (VAR) technique was applied to determine the nexus between covid-19 (fatal, recovery and positive) cases, and oil and gas stock index in Nigeria using 43 weeks’ data sets from March 2 to December 27, 2020. This study found no long-run relationship between covid-19 and oil and gas stock index in Nigeria. Moreover, Covid-19 recovery cases (lag 1) have negative and non-significant effect on oil and gas stock index in Nigeria while its lag 2 coefficient is positive and statistically significant. In the same vein, covid-19 positive cases (lags 1 and 2), have positive but non-significant effects on oil and gas stock index in Nigeria. Moreover, covid-19 fatal cases (lag 1) and oil and gas stock index have negative and non-significant relationship while the lag 2 coefficient is positive but non-significant. This study posits that there is a positive and significant relationship between covid-19 recovery cases and oil and gas stock index in Nigeria. This implies that the rate of recoveries from covid-19 poses a good sign to the oil and gas stock performance in Nigeria. The study recommends that Government should make available to the public, covid-19 vaccine to stimulate resilience to and recovery from the disease (for those infected). Furthermore, there is a need for public confidence building campaigns, enlightenment, programmes, workshops, and other measures to encourage capital market activities by the people.
Keywords: COVID-19, Nigerian Stock Exchange, Oil and Gas, Stock Index, VAR.
CORPORATE REPUTATION AND BUSINESS PERFORMANCE OF TELECOMMUNICATION FIRMS IN NIGERIA
ABDULMALIK TAIYE ABDULKAREEM
Department of Business and Entrepreneurship, Kwara State University, Nigeria
ABSTRACT
Corporate reputation is an important assets of firm that help to inducing value and it has become utmost important for organisations to make a concerted effort to develop, protect and manage their reputation. Telecommunication industry is one of the major sectors that had been contributing to economy development of Nigeria. Firms in this sector of industry are facing series of challenges that had led to their underperformance, this can be proven by the decrease in their customer loyalty. Due to these challenges, it had become necessary for telecommunication firms to improving their performance by creating a credible corporate reputation. The study examine the relationship between corporate reputation and business performance of telecommunication firms in Nigeria. The respondents were students of Kwara State University and simple random technique were explored. A total of 390 participants was subjected to data analysis using Pearson correlation. The study found that goodwill and perceived value which are antecedents of corporate reputation were highly correlated with quality service that measured business performance. The findings of the study supported all of the proposed hypotheses, and it is discovered that goodwill and perceived value have a positive significant relationship with business performance of telecommunication firms in Nigeria. The study concluded that corporate reputation have a positive significantly relationship with business performance of telecommunication firms. In addition, the findings offered a better insight to the management of telecommunication firms (service provider) by focusing on portraying the reputation as strategic scheme to create positive image around their brands.
Keyword: Corporate reputation, goodwill, perceive value, business performance, quality service, telecommunication firms
COOPERATIVE SOCIETY: AN INSTRUMENTS FOR SOCIO-ECONOMIC TRANSFORMATION OF NIGERIA ECONOMY
DR ANTHONY EMHENYA IYOHA
Department of political Science and Public Administration, Edo state University, Uzairue
ABSTRACT
The paper examine cooperative society as an instruments for socio-economic transformation of Nigeria economy. The aims is to identify ways in which cooperatives can be effective towards sustainable community development. The paper states that for over many years now cooperative have been very fervent and useful for the people to have control over their economic livelihoods as they contributed increasingly towards job creation and economic growth The paper conclude that for cooperative to be effective and successful the attitude of the people towards co-operative must receive serious attention because. “It may be difficult, if not impossible to achieve meaning economic growth without involving and stimulating the often utilization and underutilized capacities of the poor”
Keywords: Cooperative, Society, Contribution, Profit, management,
THE ECONOMIC IMPORTANCE OF TOURISM TO NATIONAL DEVELOPMENT
OKUNOLA ADAFIN A. OLAIYA
Kwara State University, Malete
ABSTRACT
The tourism industry is economically important and grows rapidly. The World Travel & Tourism Council calculated that tourism generated 6.4 trillion or 6.6% of the nation’s GDP in 2016. It supported 39.5 million jobs, 7.7% of its total employment. The sector is predicted to grow at an average annual rate of 7.9% from 2013 to 2023. Nigeria’s Tourism offers a potpourri of different cultures, traditions, festivals, and places of interest. There are a lot of options for the tourists. Nigeria is a country with rich cultural and traditional diversity. This aspect is even reflected in its tourism. The different parts of the country offer wide variety of interesting places to visit. This paper examines the importance tourism to national development. Tourism is considered to be an economic bonanza. It is a multi-segment industry. While gauging the positive economic effects of tourism, this paper study its importance to National development, expansion of employment opportunities, rising of tax revenue, generation of foreign exchange and transformation of regional economy. Tourism is an important economic activity in most countries around the world. As well as its direct economic impact, the industry has significant-indirect and induced impacts.
Keywords: Economic, Importance, Tourism, National, Development.
BUSINESS INFORMATION SHARING PRACTICES AND MOTIVATION AS DETERMINANTS OF EMPLOYEE JOB PERFORMANCE IN ZOOM MOBILE, NIGERIA
ADIO OLABISI E.; HALISO YACOB (Prof); & OKORO, OBINNA, J (PhD)
Information Resources Management Department, Babcock University, Ilishan- Remo, Ogun State, Nigeria
ABSTRACT
Employees play a significant role in the success of an organization in that they play a key role in the achievement of goals and objectives. Hence, their performance is critical for the organization to survive. Therefore, the efforts put by employees in the job they perform help to elevate the business profile of the organization. The question that comes to mind is, ‘could the poor job performance of employees in Zoom Mobile Nigeria be as a result of poor business information sharing practices and motivation? Hence, this study examined business information sharing practices and motivation as determinants of employee job performance in zoom mobile, nigeria A validated survey instrument was tested on 170 employees in Zoom mobile Nigeria.
Keywords: business information sharing practices and motivation as determinants of employee job performance in zoom mobile, Nigeria
FARM PLANNING: AN ESSENTIAL ASPECT OF MANAGING FARMING BUSINESS
*ABUBAKAR ABDULKADIR; **FATIMA SANI STORE; & ***ZAILANI BABANGIDA SALAU
*Department of Business Administration, Federal University Gusau. **Department of Business Administration, Al-Qalam University Katsina. ***Marketing Department, Ahmadu Bello University Zaria
ABSTRACT
Farm business is like any other business, an individual who wishes to enter into any business has to engage in detailed planning in order to be effective and efficient in his venture, but many farmers just engage into farming business without any planning. This paper aims at examining the relevance of farm planning in effective and efficient management of farm businesses in Nigeria. The study being conceptual, reviews the concept, types and format of farm business plan. The paper concludes that, for effective and efficient management of farm business, planning is a prerequisite that give a farmer sense of purpose, focus and direction, It can also be concludes that farming business needs to be planned and planning is an essential aspect of managing farming business. The paper recommends that farmers should be called to plan for the success of their farming venture and they should plan for effective and efficient management of their farms. He who failed to plan has planned to fail.
SOCIO-ECONOMIC EFFECTS OF COVD -19 PANDEMIC IN AFRICA
GIDEON, VICTOR OLORUNFEMI, PhD
Nigerian Institute of Social and Economic Research (NISER)
ABSTRACT
This paper examines the socio-economic effects of COVID-19 Pandemic in African countries. The study uses discourse analysis for the socio-economic effects of COVID-19 in Africa. The findings reveal that African countries like other countries and continents of the world have been affected by the coronavirus pandemic. The pandemic affected social interaction and economic activities through the imposed social distancing policies that have different levels of strictness in several African countries. Other areas affected by the pandemic includes food insecurity rates, mortality risk, self-employment, travel band, slow down of global economy, cancellation and postponement of sport/tourism and religious activities, economic crisis and total lock down. The implication of the findings shows that Africa had the lowest number of confirmed cases, new cases, total death and new death over the globe. The confirmed cases in the Sub-region was 8.9%. In Africa, the number of confirmed cases rose exponentially within 30 days interval from March to May 2020. North African countries was the most affected sub-region in Africa with number of confirmed cases of 39.7% and total recovery rate of 47.3%. The East African sub-region had the lowest number of total deaths of 5.1% and recovery rate of 12.9%. In Southern Africa countries, south Africa had the highest number of deaths in the sub-region followed by Zambia. The west and the central African countries were moderately affected compared to other African countries. The following recommendations can affect the social and economic well-being of citizens during and after the pandemic: Mandatory days of quarantine for infected people, continuous free testing for the public, band on international and inter-state travels at the peak of the pandemic, nation-wide lock down during the pandemic, health security protocol, availability of palliative for the poor and the aged, development of health capacity system and development of e-learning programmes for students. The most important sociological consequence of the coronavirus outbreak for African citizens focuses on how to adjust to the new normal so as to cope with the aftermath of the pandemic and to further prevent the likely re-occurrence of it among families and households in the region.
Keywords: Socio-economic, Effects, Covid-19 Pandemic, Policy response, Africa.
PERCEIVED EFFECT OF TAX AVOIDANCE ON REVENUE GENERATION: AN EMPIRICAL ANALYSIS OF BORNO STATE BOARD OF INTERNAL REVENUE SERVICE
ABDULRAHMAN SHETTIMA1, MOHAMMED YUSUF2 AND FATIE A. ABDULLAHI3
123Department of Accountancy, Ramat Polytechnic, Maiduguri, Borno State Nigeria
ABSTRACT
This study examine the Perceived Effect of Tax Avoidance on Revenue Generation: An Empirical Analysis of Borno State Board of Internal Revenue Service. Primary source of data was used in gathering the required information for the study with the aid of structured open-ended questionnaire. Purposive sampling technique was used to arrive at a sample size of fifty (50) drawn from the total population of ninety-five (95) respondents. Simple linear regression was employed to predict whether the predictor variable namely, tax avoidance has significant effect or not on the dependent variable, that is, revenue generation. It was found that tax avoidance have significant effect on revenue generation evidence from the state board of internal revenue Maiduguri, Borno State implying that the internally generated revenues drastically fall due to the attitudes of taxpayers’. The study recommends that the State Board of Internal Revenue Service should ensure an enforcement of penalties for tax defaulters, avoidance and these penalties should be made clearer and public. This will create real threat and actual carrying out of audit inspection, inquiry, penalty and punishment for an errant taxpayer. The current tax procedure should be amended to provide for establishment of a professional and independent tax tribunal that could hear matters of fact and law in relation to the assessment under appeal.
Keywords: Tax Avoidance, Revenue Generation, Taxation.
INSURGENCY AND REVENUE GENERATION: AN EMPIRICAL ANALYSIS IN BORNO STATE
BABAGANA MALLAM ABATCHA
Department of Accounting, Ramat Polytechnic Maiduguri.
ABSTRACT
This study examines the Effect of Insurgency on Revenue Generation in Borno State. Primary and secondary sources of data were used. Hypotheses were stated; questionnaires were drawn in line with the hypothesis for testing. Analyses were carried out using descriptive statistics, nonparametric and parametric statistics. All null hypotheses were rejected that leads to the acceptance of the alternative hypothesis. Among the findings were that: Insurgency have significant adverse effect on tax assessment process resulting to inappropriate assessment of tax liabilities; Insurgency have significant effect influencing poor personal income tax collection; and Insurgency have no significant effects on remittance of taxes to the Authority. The study concludes that Insurgency is a serious threat to fiscal policy, economic activity and the population, except there are peace and harmonious co-existence, taxation and tax administration cannot be managed effectively. This study has shown that personal income tax administration is suffering in the days of insurgency and that taxation of self-employed taxpayers is more affected from assessment process to collection level are adversely influenced.
Keyword: Insurgency, Revenue Generation, Income Tax
PERCEIVED EFFECT OF TAX AVOIDANCE ON REVENUE GENERATION: AN EMPIRICAL ANALYSIS OF BORNO STATE BOARD OF INTERNAL REVENUE SERVICE
ABDULRAHMAN SHETTIMA; MOHAMMED YUSUF; & FATIE A. ABDULLAHI
Department of Accountancy, Ramat Polytechnic, Maiduguri, Borno State Nigeria
ABSTRACT
This study examine the Perceived Effect of Tax Avoidance on Revenue Generation: An Empirical Analysis of Borno State Board of Internal Revenue Service. Primary source of data was used in gathering the required information for the study with the aid of structured open-ended questionnaire. Purposive sampling technique was used to arrive at a sample size of fifty (50) drawn from the total population of ninety-five (95) respondents. Simple linear regression was employed to predict whether the predictor variable namely, tax avoidance has significant effect or not on the dependent variable, that is, revenue generation. It was found that tax avoidance have significant effect on revenue generation evidence from the state board of internal revenue Maiduguri, Borno State implying that the internally generated revenues drastically fall due to the attitudes of taxpayers’. The study recommends that the State Board of Internal Revenue Service should ensure an enforcement of penalties for tax defaulters, avoidance and these penalties should be made clearer and public. This will create real threat and actual carrying out of audit inspection, inquiry, penalty and punishment for an errant taxpayer. The current tax procedure should be amended to provide for establishment of a professional and independent tax tribunal that could hear matters of fact and law in relation to the assessment under appeal.
Keywords: Tax Avoidance, Revenue Generation, Taxation.
EFFECT OF MOTIVATION ON EMOPLOYEE PRODUCTIVITY
*OBIAKOR UGOCHUKWU JUDE; & **OBIAKOR NGOZI JULIET
*Department of Business Administration, Federal Polytechnic Oko, Anambra State **Department of Banking and Finance, Federal Polytechnic Oko Anambra State
ABSTRACT
Motivation is something that moves the person to action and continues hint moves the person to action and continues hint of cause of action already initiated. Motivation has the role to develop and in ten the desire of every member of the organization to work effectively and sufficiently in his position. The motivation for the study was prompted by the low level attraction on employee motivation as compared to the employees of other organizations which employees of other organizations which have caused a NAC short age of qualified teachers at the basic and 2nd cycle(Senior High School)level due to high migration to other sector(GNATReport,2013).Motivation in Ghana Education Service is down, the workers and the government, who are responsible for implementing the nation a are responsible for implementing the nation as and programmer relating top reiterated year at country, have clashed many times in the recent years over salary and conditions of we(GNATReport,2013).It is against this Background that the research investigate don’t:“the effect of motivation on employees Performance: Empirical evidence from the bring a hacked auction dire”. The general Objective of the study is to determine the effect of met employees; to identify Factors that motivate employees; to determine the employees “performance and to assess the effect of motivation on the employees, ‟performance in as unadorned thou Nicola led Directorate. Mixed methodology, that is questionnaires and interviews were us lather data and analysis was done using Statistical Package for Social Sciences(SPSS),and content Analysis for qualitative aspect. The study has revealed that promotion and opportunity for advancement are them ajar motivation factors and the study has also revealed that motivation level is low in the area of wages and salaries. Ghana Education appears to be paying lowest.Wages and salaries in the industry. It is therefore recommended that Ghana Education Service(management)should consider as a after of urgency,the need to make upward adjustment in wages and salaries which will go a long way to reduce the high in turnover.
Keywords: Effect, Motivation, Employee, Productivity, Foundation
SOCIO-ECONOMIC EFFECTS OF COVD -19 PANDEMIC IN AFRICA
GIDEON, VICTOR OLORUNFEMI, PhD
Nigerian Institute of Social and Economic Research (NISER)
ABSTRACT
This paper examines the socio-economic effects of COVID-19 Pandemic in African countries. The study uses discourse analysis for the socio-economic effects of COVID-19 in Africa. The findings reveal that African countries like other countries and continents of the world have been affected by the coronavirus pandemic. The pandemic affected social interaction and economic activities through the imposed social distancing policies that have different levels of strictness in several African countries. Other areas affected by the pandemic includes food insecurity rates, mortality risk, self-employment, travel band, slow down of global economy, cancellation and postponement of sport/tourism and religious activities, economic crisis and total lock down. The implication of the findings shows that Africa had the lowest number of confirmed cases, new cases, total death and new death over the globe. The confirmed cases in the Sub-region was 8.9%. In Africa, the number of confirmed cases rose exponentially within 30 days interval from March to May 2020. North African countries was the most affected sub-region in Africa with number of confirmed cases of 39.7% and total recovery rate of 47.3%. The East African sub-region had the lowest number of total deaths of 5.1% and recovery rate of 12.9%. In Southern Africa countries, south Africa had the highest number of deaths in the sub-region followed by Zambia. The west and the central African countries were moderately affected compared to other African countries. The following recommendations can affect the social and economic well-being of citizens during and after the pandemic: Mandatory days of quarantine for infected people, continuous free testing for the public, band on international and inter-state travels at the peak of the pandemic, nation-wide lock down during the pandemic, health security protocol, availability of palliative for the poor and the aged, development of health capacity system and development of e-learning programmes for students. The most important sociological consequence of the coronavirus outbreak for African citizens focus on how to adjust to the new normal so as to cope with the aftermath of the pandemic and to further prevent the likely re-occurrence of it among families and households in the region.
TAX REVENUE AND ECONOMIC GROWTH IN NIGERIA
MUSA, ABDULAI ALIAKHUE; & OKOLOGUME, HENRY CHUKWUDI
Department of Banking and Finance, School of Business Studies, Federal Polytechnic, Auchi, Edo State, Nigeria
ABSTRACT
The study examines tax revenue and economic growth in Nigeria from 2009-2019. The study adopted the Ordinary Least Square (OLS) regression analysis method for the estimation process. Data were extracted from the Central Bank of Nigeria Statistical Bulletin and Federal Inland Revenue Service (FIRS) statistical Report and regressed with the aid of Eviews 8.0 econometric software package. It was found from the analysis that Value Added Tax and Company Income Tax have positive and significant impact on economic growth in Nigeria. Also, Petroleum Profit Tax was found to negatively influence the growth of Nigeria economy. We therefore recommended that government should sensitize the citizenry through awareness campaign and enlightenment on the need to pay tax and not to evade it.
Keywords: Tax Revenue, Economic Growth, Value Added Tax, Petroleum Profit Tax, Company Income Tax
MARKETING AND THE GROWTH OF SERVICE INDUSTRY IN THE POST-COVID-19 ERA: A Case of Selected Service Providers in Bida Town
BELLO, BABATUNDE SIKIRU1; NWOKENKWO, BEN OLUBUNMI2; OZIMEDE, ELIZABETH I.3; ABDULLAHI, NDAGI YUKUBU4
1,2&4Department of Marketing, Federal Polytechnic, Bida. 3Department of Business Administration & Management, Federal Polytechnic, Bida
ABSTRACT
Marketing activities play a significant role in the survival and growth of any organization. In recent time, marketing activities in the services industry have been posing serious problems to the service operators. This is because of the competitive nature and the increase in the number of service industries. Marketing of services such as insurance, hotel, and banking stand on different platform as the marketing slogan is shifted from tangible products to intangible services rendered to customers. The objective of this paper is to examine if marketing concept as a new business philosophy has been rightly adopted in the service industry. The study is based on the information gathered and collected from both primary and secondary sources. The sample for the study is obtained from the selected service providers in Bida town and this covers banking, hotels and insurance companies. Data analysis for the study was done using frequencies, percentage, chi-square, and z-score. Findings of the study revealed that marketing activities have been playing a dominant role in the development of the service industries. Therefore, the continued existence of any service industry will depend on its ability to design and map out appropriate marketing strategy for the target audience.
Keywords: Growth, Industry, Post-Covid-19 Era, Service Providers, Bida Town
ADDRESSING INCONSISTENCY IN TAX APPEAL PROCEDURE BETWEEN THE FEDERAL INLAND REVENUE SERVICE (ESTABLISHMENT) ACT, 2007 AND TAX APPEAL TRIBUNAL (PROCEDURE) RULES, 2010 IN NIGERIA.
ANIEKAN J. MENDIE
Department of Business Administration and Management, Federal Polytechnic, Bauchi.
ABSTRACT
The practice and procedure of tax law in Nigeria is regulated by some legal regime which include the Federal Inland Revenue Service (Establishment) Act, 2007 and Tax Appeal Tribunal (Procedure) Rules, 2010, among others. This legal regime exists under the constitutional structure which aims at ensuring a level playing field for any appellant, whether private person or government agency like the Federal Inland Revenue Service, (FIRS) in the exercise of right of appeal before The Tax Appeal Tribunal (TAT). However, nothing could be further from the truth when it comes to exercise of right of appeal by a government agency such as the Federal Inland Revenue Service before the Tax Appeal Tribunal (TAT). A critical reading of the Federal Inland Revenue Act, 2007 and Tax Appeal Tribunal Rules, 2010 discloses a serious inconsistency which introduces inequality in appeal procedure regarding exercise of right of filing an appeal before the Tax Appeal Tribunal between a private appellant and official appellant (example, the FIRS). This paper therefore addresses the issues of inconsistency and inequality characterizing the appeal procedure before Tax Appeal Tribunal and seeks to find solutions thereto. To that extent, the paper adopts the doctrinal approach in explaining legal rules and principles with respect to appeal procedure before the Tax Appeal Tribunal. It also adopts content analysis methodology in looking at the provisions of substantive and procedural laws regarding institution of appeals before the Tax Appeal Tribunal. The paper draws materials from primary sources such as tax statutes, rules of the tribunal and judicial precedents in developing its topical concerns. Secondary materials from the cyber space also aided the discussion of the issues under the paper. As it draws conclusion, the paper recommends that the regulatory statute be amended to allow for equality, equity and justice in the procedural process of exercising right of appeal before the Tax Appeal Tribunal.
Keywords: Tax Appeal, Procedure, Inconsistency, Act, Rules, Nigeria.
EFFECT OF CORPORATE GOVERNANCE ON FINANCIAL PERFORMANCE OF CONSUMERS GOODS FIRMS IN NIGERIA
ELKHOMUN DANIEL EHI, AYANWUYI JOHNSON & IRIABIJE EMMANUEL UAREME
Department of Accountancy, Federal Polytechnic Bauchi, Nigeria
ABSTRACT
This study examined the effect of corporate governance on financial performance of quoted consumer goods firms in Nigeria. The specific objectives of the study were to determine whether corporate governance mechanisms- board size, board diversity, board diligence, board political affiliation, and corporate governance disclosures have any effect on firm financial performance using profit after tax (PAT) to measure firm performance. The study used the published annual reports spanning the period 2013 to 2020. A sample of twelve (22) out of the fourteen (44) quoted companies in the consumer goods firms were used for this study. The Generalized Least Square (GLS) regression was employed to examine the relationship existing between the variables. The study found that Board size, board gender diversity and corporate governance practices have significant positive impact on financial performance. Board diligence and corporate governance reforms are positive but not significant while board political affiliation has significant negative relationship with financial performance of consumer goods firms in Nigeria. In the light of the above findings, it is recommended that companies should ensure that boards are effective in discharging their roles in monitoring the activities of management and that attention should not be on frequency of board meetings because of its negative impact on financial performance. Also, companies should Endeavour to include in their boards, females with core competencies that can improve the collective board productivity and there should be a limit on the number of politically-affiliated individuals on the board.
Keywords: Corporate, Governance, Board Characteristics and financial performance