Zenodo (CERN European Organization for Nuclear Research), Mar 31, 2017
Financial inclusion assures easy access to financial services by enabling the disadvantaged and v... more Financial inclusion assures easy access to financial services by enabling the disadvantaged and vulnerable sections of the society to actively contribute to development and protect themselves against socioeconomic shocks. Nigeria has a sizeable rural poor population with limited access to conventional financial institutions or services. This study investigated the impact of financial inclusion on the micro, small and medium enterprises (MSMEs) performance in Nigeria. The survey research design method was used, involving the use of questionnaires, in collecting data from respondents. Data were analyzed using the Pearson Chi-square technique. The results show that, whereas financial inclusion positively and significantly impacts the operations and growth of MSMEs, distance to financial services access points and infrastructural deficiency challenged fast and effective access to financial services by MSMEs in Nigeria. The study recommends that deliberate efforts should be made to spread access points to more rural areas and improve infrastructure to promote FI. This should include a policy roadmap for expanding financial services access points to unbanked and underserved areas using the financial services geospatial map. Furthermore, the digitizing of payments across the country should be prioritized to include enhanced ICT/E-banking tools and a consumer protection framework.
The study investigated the phenomenon of banking sector frauds in Nigeria, staff involvement and ... more The study investigated the phenomenon of banking sector frauds in Nigeria, staff involvement and the role of the human resource function in evolving curtailment strategies. It sought, particularly, to determine whether there is a relationship between the amounts of fraud loses in the banking sector and the cadre levels of employees. Using secondary data, estimated losses (EL) to fraud was regressed on number of fraud cases, total amounts and the categories of staff involved. The estimation of the model was based on the ordinary least squares (OLS) method after the necessary pre-testing of the annual time series data using the augmented Dickey-Fuller (ADF) and the Philips-Peron (PP) tests, taken side by side with the related descriptive statistics. The study revealed that the contribution of officers and accountants to fraud losses was the highest compared to the other categorized staff. The study model, considered good for prediction (DW=1.93), revealed that seventy seven percent of...
With decreasing demand for fossil oil globally, international oil prices have fallen continuously... more With decreasing demand for fossil oil globally, international oil prices have fallen continuously, reaching an all time low of below $30 lately. This has several implications on the Nigerian public finance structure at national and sub-national levels. The study investigated the impact of this plunge on the economic development of Cross River State, Nigeria and found that international oil price shocks affected the State's economy inversely, while a positive but insignificant relationship existed between the other model variables and the economic growth of the State. Consequently, the study recommends that CRS government should de-emphasize the over-reliance on crude oil revenue and seek and optimize earnings from other non-oil sectors of the economy.Further, the State's economy should be diversified to boost internally generated revenue with less dependence on Federal government revenue allocation. Finally, there should be effective machinery for checks and balances put up by the government to stem fiscal abuse and wastage of resources by the ministries, departments and agencies in the State.
This study was conducted to investigate how impact of the Gerschenkron's structuralist hypothesis... more This study was conducted to investigate how impact of the Gerschenkron's structuralist hypothesis effect on the contributions of corporate restructuring, in Nigeria's banking sector, to economic development can be used to inform disposing regulatory incentives. The ordinary least squares procedure was applied to analyze and test time series data on the Nigerian banking sector, obtained and tabulated from 1990 to 2013. The gross domestic product was used as proxy for economic development. Results from the test of data showed that all the variables in the model used for the study were correctly signed, corresponding to the study's a priori expectations and are jointly statistically significant at 5 per cent level (F0.05 = 25.83). Aggregate credit to the private sector (ACP) and foreign direct investment (FDI) were found to be the most reliable variables that significantly influence economic development in Nigeria, while profits and staff levels were not. The Durbin Watson statistic, of 1.63, shows that the model is good for policy analysis. Accordingly, the study recommends that the Central Bank of Nigeria (CBN) should pursue a regime of incentives which encourage banks to invest their, usually substantial, post-restructuring capital and subsequent profits in the real sector to boost the productive capacity of Nigeria's economy. Further, the regulatory authorities should set strict standards of accountability and corporate governance, including measured sanctions, to check the diversion of post-merger capital of banks by corrupt boards and top managements of banks, to remove the Gerschenkron's structuralist hypothesis effect.
This study examined capital budgeting as a critical model for strategic planning in manufacturing... more This study examined capital budgeting as a critical model for strategic planning in manufacturing companies in Cross River State, Nigeria. The objectives of the study were to examine the degree of relationship between the adoption of NPV model and the return on investment in manufacturing firms in Nigeria; to investigate the extent to which capital budgeting models could influence strategic planning in manufacturing firms in Nigeria. In order to achieve these objectives, three research hypotheses were tested at 5% level of significance. The survey research design was adopted and a well structured questionnaire was constructed to gather data for the study. The questionnaire was administered on 108 respondents comprising the management and operational staff of quoted firms in Cross River State. The Pearson product moment correlation statistical technique was applied. Findings resulting from the test revealed that capital budgeting model influenced significantly strategic planning and ...
This study investigated the perception of Nigerians towards the Treasury Single Account (TSA). A ... more This study investigated the perception of Nigerians towards the Treasury Single Account (TSA). A sample of one hundred and ninety respondents, drawn from management staff of MDAs, in the Federal and State Services as well as Deposit Money Banks in Calabar Cross River State, was studied to gauge their perception on the Treasury Single Account (TSA) being implemented by the Federal Government of Nigeria. The data were analyzed using the Chi-Square statistical technique. The results reveal a significant acceptance of the TSA policy itself but a non-significant positive perception of its operation. It argues that TSA, as operated presently, has negatively affected the socioeconomic life of the people and the operation of Government Ministries, Departments and Agencies (MDA) as a result of delays experienced in releases due to bureaucratic bottlenecks. The paper recommends, among others, that Government should ensure timely release of operational funds to encourage MDAs to support the TSA Policy. This can be achieved through the use of treasury bills (T-bills) or other short-term borrowing instruments aimed at offsetting the impact of TSA implementation on government cash flows.
This paper aimed at determining the theories and approaches that inform the operational efficienc... more This paper aimed at determining the theories and approaches that inform the operational efficiency of the Nigerian stock market, considering the economic, financial, political and environmental factors inducing shareholder behaviour in the market. Taking a desk review of the theories, against the wealth maximization expectations of investors, the paper notes that due to imperfections in the Nigerian stock market, certain policies are clearly unsuitable in informing shareholder behaviour and corporate managements’ relationship with them. Due to the several factors affecting dividend policy such as legal constraints, funding needs, control issue, debt obligation, investment opportunity, inflation, shareholders expectations etc, good planning must be put in place.
Financial inclusion assures easy access to financial services by enabling the disadvantaged and v... more Financial inclusion assures easy access to financial services by enabling the disadvantaged and vulnerable sections of the society to actively contribute to development and protect themselves against socio-economic shocks. Nigeria has a sizeable rural poor population with limited access to conventional financial institutions or services. This study investigated the impact of financial inclusion on the micro, small and medium enterprises (MSMEs) performance in Nigeria. The survey research design method was used, involving the use of questionnaires, in collecting data from respondents. Data were analyzed using the Pearson Chi-square technique. The results show that, whereas financial inclusion positively and significantly impacts the operations and growth of MSMEs, distance to financial services access points and infrastructural deficiency challenged fast and effective access to financial services by MSMEs in Nigeria. The study recommends that deliberate efforts should be made to spre...
This study was on managing the exchange rate risk in Nigeria. It sought to appraise the operation... more This study was on managing the exchange rate risk in Nigeria. It sought to appraise the operations of the foreign exchange market in Nigeria in order to ameliorate the exchange rate risk available in the market. In order to achieve this objective, data were obtained from the CBN statistical bulletin. They were tabulated, analyzed and tested using Ordinary least square multiple regression statistical technique. Findings resulting from the test of data showed that there was a significant relationship between interest rate, exchange rate and the gross domestic product of Nigeria. Following the findings, it was recommended that the government should concentrate on policies that would standardize and raise money supply to the real sector that has the tendency to increase the volume of goods available for export and reduce demand for imports. Infant Nigerian produced goods should be given high priority. Measures that could stabilize the Nigeria currency should be pursued with vigor. The i...
Frauds in the Nigerian Banking Sector: A Factor-Analytic Investigation
The study examines banking sector frauds in Nigeria, from 1994 – 2013, their causative factors ... more The study examines banking sector frauds in Nigeria, from 1994 – 2013, their causative factors and suggested mitigating measures. The secondary data for the period were analyzed using two models, with bank deposits (BD) mobilized as the dependent variable, while the model was based on the ordinary least squares (OLS) method after pre-testing for stationarity using the Augmented Dickey-Fuller (ADF) and the Philips-Peron (PP) tests. Regression analysis and the derived related descriptive statistics were used to explain the behaviour of the variables. The study showed that the number of fraud cases and the amount of fraud loses are significant (F0.05=45.49) in explaining the variation in the banks deposit levels (R2=0.92; DW=1.78). However, the number of staff involved was found to have no significant relationship with the level of bank deposits. The reports concludes that the battle against Nigerian banking sector frauds require strong interagency collaboration, public education and...
This study investigated the perception of Nigerians towards the Treasury Single Account (TSA). A ... more This study investigated the perception of Nigerians towards the Treasury Single Account (TSA). A sample of one hundred and ninety respondents, drawn from management staff of MDAs, in the Federal and State Services as well as Deposit Money Banks in Calabar Cross River State, was studied to gauge their perception on the Treasury Single Account (TSA) being implemented by the Federal Government of Nigeria. The data were analyzed using the Chi-Square statistical technique. The results reveal a significant acceptance of the TSA policy itself but a non-significant positive perception of its operation. It argues that TSA, as operated presently, has negatively affected the socioeconomic life of the people and the operation of Government Ministries, Departments and Agencies (MDA) as a result of delays experienced in releases due to bureaucratic bottlenecks. The paper recommends, among others, that Government should ensure timely release of operational funds to encourage MDAs to support the TSA Policy. This can be achieved through the use of treasury bills (T-bills) or other short-term borrowing instruments aimed at offsetting the impact of TSA implementation on government cash flows.
A search for Natural Resource Accounting, Reporting and Auditing framework in Nigeria has become ... more A search for Natural Resource Accounting, Reporting and Auditing framework in Nigeria has become a challenge as a result of poor governance in the management of resources in the extractive sector of the economy. This quest for such a framework is accentuated even more as the demand for public accountability are brought into focus due to its universal legitimacy of performing public accounts attestation service. To situate and analyze the problem of the study, a review of existing literature on the subject matter are discussed critically and extensively in order to understand the Nigerian case vis-à-vis the rest of the world. To that extent, theoretical and conceptual approach was adopted in the methodology of the study to highlight as well as argue for the essence of an appropriate Accounting framework for reporting and auditing in the extractive sector of the Nigerian public sector. In conclusion, suggestions and recommendations were advanced to address some of the challenging issues of accounting and auditing created by the near absence of a good reporting system for Natural resources in Nigeria. It is hoped that this paper will stimulate further research into the emerging issues in the area of Natural resources accounting for developing countries globally.
This study investigated the perception of Nigerians towards the Treasury Single Account (TSA). A ... more This study investigated the perception of Nigerians towards the Treasury Single Account (TSA). A sample of one hundred and ninety respondents, drawn from management staff of MDAs, in the Federal and State Services as well as Deposit Money Banks in Calabar Cross River State, was studied to gauge their perception on the Treasury Single Account (TSA) being implemented by the Federal Government of Nigeria. The data were analyzed using the Chi-Square statistical technique. The results reveal a significant acceptance of the TSA policy itself but a non-significant positive perception of its operation. It argues that TSA, as operated presently, has negatively affected the socioeconomic life of the people and the operation of Government Ministries, Departments and Agencies (MDA) as a result of delays experienced in releases due to bureaucratic bottlenecks. The paper recommends, among others, that Government should ensure timely release of operational funds to encourage MDAs to support the TSA Policy. This can be achieved through the use of treasury bills (T-bills) or other short-term borrowing instruments aimed at offsetting the impact of TSA implementation on government cash flows.
With decreasing demand for fossil oil globally, international oil prices have fallen continuously... more With decreasing demand for fossil oil globally, international oil prices have fallen continuously, reaching an all time low of below $30 lately. This has several implications on the Nigerian public finance structure at national and sub-national levels. The study investigated the impact of this plunge on the economic development of Cross River State, Nigeria and found that international oil price shocks affected the State's economy inversely, while a positive but insignificant relationship existed between the other model variables and the economic growth of the State. Consequently, the study recommends that CRS government should de-emphasize the over-reliance on crude oil revenue and seek and optimize earnings from other non-oil sectors of the economy.Further, the State's economy should be diversified to boost internally generated revenue with less dependence on Federal government revenue allocation. Finally, there should be effective machinery for checks and balances put up by the government to stem fiscal abuse and wastage of resources by the ministries, departments and agencies in the State.
The study investigated the phenomenon of banking sector frauds in Nigeria, staff involvement and ... more The study investigated the phenomenon of banking sector frauds in Nigeria, staff involvement and the role of the human resource function in evolving curtailment strategies. It sought, particularly, to determine whether there is a relationship between the amounts of fraud loses in the banking sector and the cadre levels of employees. Using secondary data, estimated losses (EL) to fraud was regressed on number of fraud cases, total amounts and the categories of staff involved. The estimation of the model was based on the ordinary least squares (OLS) method after the necessary pre-testing of the annual time series data using the augmented Dickey-Fuller (ADF) and the Philips-Peron (PP) tests, taken side by side with the related descriptive statistics. The study revealed that the contribution of officers and accountants to fraud losses was the highest compared to the other categorized staff. The study model, considered good for prediction (DW=1.93), revealed that seventy seven percent of frauds are attributable to insiders and about 23% of fraud losses are attributable to non-insider related frauds and forgeries (R2=0.77). Based on the findings, it is recommended, inter alia, that the recruitment process be strengthened through a robust, IT-enabled selection, referencing and personnel lifestyle tracking system. Further, the work environment and job content must be enriched to curtail the opportunity to commit fraud presented when employees are allowed to have wholesome access to assets and information that allow them to both commit and conceal fraud.
The study examines banking sector frauds in Nigeria, from 1994 – 2013, their causative factors an... more The study examines banking sector frauds in Nigeria, from 1994 – 2013, their causative factors and suggested mitigating measures. The secondary data for the period were analyzed using two models, with bank deposits (BD) mobilized as the dependent variable, while the model was based on the ordinary least squares (OLS) method after pre-testing for stationarity using the Augmented Dickey-Fuller (ADF) and the Philips-Peron (PP) tests. Regression analysis and the derived related descriptive statistics were used to explain the behaviour of the variables. The study showed that the number of fraud cases and the amount of fraud loses are significant (F0.05=45.49) in explaining the variation in the banks deposit levels (R 2 =0.92; DW=1.78). However, the number of staff involved was found to have no significant relationship with the level of bank deposits. The reports concludes that the battle against Nigerian banking sector frauds require strong interagency collaboration, public education and cross border cooperation to accomplish sustainable success. Based on the findings, it is recommended, among others, that existing regulatory guidelines on deterrence and prevention of banking sector frauds, which are currently inadequately addressing detection and mitigation activities, should be strengthened and broadened to include forensic accounting/auditing to aid recovery of losses. Also, that the internal control mechanisms, particularly, the monitoring and sustenance of effective system of dual control in banking operations should be strengthened by enforcing strict compliance and a regime of sanctions for breaches.
This study was conducted to investigate how impact of the Gerschenkron’s structuralist hypothesis... more This study was conducted to investigate how impact of the Gerschenkron’s structuralist hypothesis effect on the contributions of corporate restructuring, in Nigeria’s banking sector, to economic development can be used to inform disposing regulatory incentives. The ordinary least squares procedure was applied to analyze and test time series data on the Nigerian banking sector, obtained and tabulated from 1990 to 2013 . The gross domestic product was used as proxy for economic development. Results from the test of data showed that all the variables in the model used for the study were correctly signed, corresponding to the study’s a priori expectations and are jointly statistically significant at 5 per cent level (F0.05 = 25.83). Aggregate credit to the private sector (ACP) and foreign direct investment (FDI) were found to be the most reliable variables that significantly influence economic development in Nigeria, while profits and staff levels were not. The Durbin Watson statistic, of 1.63, shows that the model is good for policy analysis. Accordingly, the study recommends that the Central Bank of Nigeria (CBN) should pursue a regime of incentives which encourage banks to invest their, usually substantial, post-restructuring capital and subsequent profits in the real sector to boost the productive capacity of Nigeria’s economy. Further, the regulatory authorities should set strict standards of accountability and corporate governance, including measured sanctions, to check the diversion of post-merger capital of banks by corrupt boards and top managements of banks, to remove the Gerschenkron’s structuralist hypothesis effect.
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Papers by Bassey I Ibor
the contributions of corporate restructuring, in Nigeria’s banking sector, to economic development can be
used to inform disposing regulatory incentives. The ordinary least squares procedure was applied to analyze
and test time series data on the Nigerian banking sector, obtained and tabulated from 1990 to 2013 . The
gross domestic product was used as proxy for economic development. Results from the test of data showed
that all the variables in the model used for the study were correctly signed, corresponding to the study’s a
priori expectations and are jointly statistically significant at 5 per cent level (F0.05 = 25.83). Aggregate credit to
the private sector (ACP) and foreign direct investment (FDI) were found to be the most reliable variables
that significantly influence economic development in Nigeria, while profits and staff levels were not. The
Durbin Watson statistic, of 1.63, shows that the model is good for policy analysis. Accordingly, the study
recommends that the Central Bank of Nigeria (CBN) should pursue a regime of incentives which encourage
banks to invest their, usually substantial, post-restructuring capital and subsequent profits in the real sector
to boost the productive capacity of Nigeria’s economy. Further, the regulatory authorities should set strict
standards of accountability and corporate governance, including measured sanctions, to check the diversion
of post-merger capital of banks by corrupt boards and top managements of banks, to remove the
Gerschenkron’s structuralist hypothesis effect.