UMYU Journal of Accounting and Finance Research

Accounting Conservatism in Emerging Markets: Comparative Evidence from Nigeria and South Africa

2025-05-30T16:18:17+00:00

This study examined the degree and variation of conditional accounting conservatism between Nigeria and South Africa using the Basu (1997) asymmetric timeliness model. It aimed to determine whether earnings reflected bad news more promptly than good news in the two leading Sub-Saharan African economies and whether such conservatism was systematically influenced by country-specific factors. Panel data from listed manufacturing firms covering the period 2012 to 2023 were employed, and fixed and random effects regressions were estimated using robust standard errors. Diagnostic tests such as the Ramsey RESET, Breusch-Pagan LM, and Portmanteau tests were conducted to ensure the validity of the models. The results revealed that Nigerian firms exhibited statistically significant conditional conservatism, whereas South African firms showed no such evidence. Furthermore, interaction terms in the extended model did not indicate statistically significant cross-country differences, although the direction of effects suggested stronger conservatism in Nigeria. These findings implied that institutional, regulatory, and governance frameworks likely influenced conservative financial reporting practices. The study recommended regional policy coordination to enhance the comparability and credibility of financial statements.

Emerging Technologies and Accounting Functions in Deposit Money Banks in Nigeria

2025-08-14T19:37:43+00:00

The integration of emerging technologies like artificial intelligence, blockchain, and robotics is redefining accounting functions and processes. To keep up with the current trends and maintain their competitiveness, Deposit Money Banks (DMBs) in Nigeria have had to adopt new technologies. However, the extent to which the deployment of the technologies is needed, useful, and improves accounting functions in Nigeria's context remains an area to be fully explored. This study, therefore, examines emerging technologies and accounting functions in DMBs in Nigeria. A cross-sectional survey design was adopted for the study. Primary data were sourced through the administration of a questionnaire. A convenience sampling technique was used to select 50 respondents from among the staff of the top seven DMBs. Descriptive statistics and thematic analysis were used to analyze the data. The findings of the study showed that emerging technologies can be deployed for accounting functions at any level in DMBs. Also, routine data entry tasks improved at an advanced level, reconciliation improved at an average level, and financial reporting preparation improved at an advanced level, respectively, with the deployment of emerging technologies in DMBs. The study recommends that DMBs should expand the use of emerging technologies across all accounting functions and should create measures that will ensure the smooth implementation of technological solutions.

Electronic Banking Channels and Financial Performance in the Nigerian Banking Industry

2025-07-04T11:00:44+00:00

This study investigates the impact of electronic banking channels on the financial performance of the Nigerian banking industry over the period 2000 to 2023. Utilizing Autoregressive Distributed Lag model, the research captures both short-run and long-run dynamics between Automated Teller Machines, Internet Banking, Mobile Banking, Point-of-Sale and financial performance indicators on Return on Assets and Financial Deepening Ratio. The results reveal a mixed pattern of findings: internet and mobile banking demonstrate statistically significant positive impact on profitability while Automated Teller Machines and Point-of-Sale channels exhibit inverse impacts, mainly due to high operational and infrastructural costs. Conversely, the influence of all four channels on financial deepening ratio is statistically insignificant, suggesting that the current deployment of electronic banking technologies does not substantially enhance long-term financial inclusion. These findings underscore the dual nature of electronic banking, profitable when efficiently scaled, but insufficient in driving inclusive finance without complementary structural and policy reforms. The study concludes with targeted policy recommendations, such as a dual-target strategy aligning profitability with inclusion goals; improved cost-sharing and rural deployment of Automated Teller Machines and Point-of-Sale infrastructure; regulatory reforms on transaction fee structures; product innovation in mobile and internet banking platforms; and the establishment of a national framework for tracking digital inclusion outcomes. These measures are essential for optimizing the economic benefits of electronic banking while promoting inclusive and sustainable financial sector growth in Nigeria.

Risk-Taking Behaviour and Profit Efficiency among Nigerian Listed Deposit Money Banks

2025-05-07T10:29:55+00:00

The study explored the influence of risk-taking behavior on profit efficiency among Nigerian banks. It utilized a longitudinal research design and drew on secondary data from the audited annual accounts of selected banks. The population included 14 publicly quoted Deposit Money Banks (DMBs) in Nigeria, and a sample of 11 DMBs was chosen using a purposive sampling technique. Multiple regression analysis was applied to the data, showing that capital risk has a positive and significant influence on the profit efficiency of listed banks (t = 6.4913; p < 0.01). This indicates that well-capitalized banks tend to have higher profitability because they face fewer constraints when expanding their outputs. Additionally, the study found that insolvency risk negatively affects profit efficiency (t = -2.7399; p < 0.01) and that liquidity risk also has a significant negative effect (t = -2.3062; p < 0.05). This suggests that high liquidity risk can create challenges in managing cash flows. In conclusion, the study determined that risk-taking behavior significantly impacts the profit efficiency of Nigerian-listed deposit money banks. It recommended that Nigerian banks reassess their credit risk management strategies to improve profitability and create a more stable banking environment.

The Impact of Blockchain on Competitive Strategy: A Case Study of a Digital Market Place in Nigeria

2025-07-10T13:16:11+00:00

This study examines the role of blockchain technology in shaping competitive strategy within digital marketplaces. By leveraging primary data collected through surveys and statistical analysis, the study evaluates blockchain’s influence on key strategic components such as transparency, operational efficiency, cost reduction, and user trust. Specifically, it explores how blockchain adoption can act as a differentiating factor for businesses in a highly competitive digital space. The findings indicate that blockchain significantly enhances competitive advantage by streamlining processes, reducing transaction costs, improving security, and fostering trust among participants. Furthermore, blockchain’s role in eliminating intermediaries and enabling real-time, transparent transactions is shown to improve overall market dynamics. The study also highlights potential challenges businesses face in implementing blockchain, such as regulatory uncertainty, scalability issues, and high initial costs. It concludes by providing actionable recommendations for industry stakeholders, suggesting that blockchain adoption can be a transformative tool for digital marketplaces, but only if approached strategically with careful consideration of both the technological and business environments.

Factors that Determine Aggressive Tax Avoidance Among Listed Commercial Banks in Nigeria from 2014 To 2023: Evidence from Panel Regression Analysis

2025-06-18T15:32:20+00:00

The objective of this study is to examine the factors that determine the aggressive tax avoidance among listed commercial banks in Nigeria. The selected factors include firm size, leverage, profitability and capital intensity, while tax avoidance was measured by Effective Tax Rate (ETR). The study used Political cost theory and Political power theory to underpin the established relationships in this study. Exploratory research design was adopted and secondary data was gathered from published annual reports of the selected banks for the period of 10 years (2014-2023). The population of the study are the 14 listed commercial banks as at 2025, while filtering approach was used to sample 13 banks that are listed throughout the period of the study. The collected data was analyzed using descriptive, correlation and panel regression analysis with the help of STATA 14.0. The study found that firm size has negative effect on aggressive tax avoidance by having positive impact on ETR; leverage and profitability have significant positive effect on tax avoidance by having negative effect on ETR, while capital intensity was insignificant. In view of these findings, the study concluded that tax avoidance behavior among Nigerian commercial banks is not universally derived by a particular inherent characteristic as every attribute has a way it affects the strategic behavior. It is therefore recommended that FIRS should leverage the accountability of larger banks by promoting compliance frameworks and transparent reporting requirement for such banks through mandatory disclosure rules of cross-border transactions and tax planning arrangements. There is also need for policymakers to strengthen thin capitalization rules so as to restrict the excessive interest deductions that leveraged firms are exploiting. Furthermore, tax authorities should tighten the scrutiny for the most profitable banks in the Nigerian financial industry for a potential aggressive tax planning scheme as they have incentive and resource to exploit the tax loopholes

Spiritual Capital and Financial Performance of Deposit Money Banks Listed on the Nigerian Exchange Group (NGX)

2025-04-30T15:26:17+00:00

The study investigates the relationship between Spiritual Capital and financial performance in deposit money banks listed on the Nigerian Exchange Group (NGX). Specifically, it examines the impact of four dimensions of Spiritual Capital – Spiritual Motivation, Spiritual Culture, Spiritual Survival, and Spiritual Leadership – on financial performance, measured by Return on Assets (ROA). Using panel data from seven banks over five years (2018-2022) and the Random Effects model, the study finds a significant positive relationship between Spiritual Motivation and financial performance. This suggests that banks fostering spiritual values, mission statements, employee motivation, and social responsibility can enhance organizational culture and financial performance. However, no significant relationships were found between Spiritual Culture, Spiritual Survival, and Spiritual Leadership and financial performance. The positive association between Spiritual Motivation and financial performance is attributed to factors like increased employee commitment, productivity, customer service, and enhanced brand reputation. The study recommends that banks prioritize Spiritual Motivation by developing clear mission statements, implementing employee motivation programs, and promoting ethical behaviour and social responsibility initiatives.

Artificial Intelligence and Human Resources Accounting of Manufacturing Companies in Nigeria

2025-07-11T08:54:41+00:00

This study examined the effect of three Artificial Intelligence (AI) components; Machine Learning, Process Automation, and Predictive Analytics, on Human Resource Accounting (HRA) practices in selected manufacturing firms in Benin City, Edo State, Nigeria. A survey research design was employed to collect primary data from a population of 412 employees across Bendel Feed and Flour Mill Ltd, Nosak Distilleries Ltd, and Presco Plc. Using Taro Yamane’s formula at a 5% margin of error, a sample size of 203 was determined. Stratified random sampling ensured representation across key departments, including human resources, accounting/finance, and operations. Data were collected using a structured and validated questionnaire, with reliability confirmed through a pilot study yielding Cronbach’s alpha values above 0.70. The study adopted a model that specified Human Resource Accounting as the dependent variable and the three AI components as independent variables. Responses were measured on a 5-point Likert scale. Data analysis was conducted using SPSS version 25, applying descriptive statistics and paired samples t-tests. Results revealed that Machine Learning, Process Automation, and Predictive Analytics each had a positive and statistically significant effect on HRA, with Machine Learning exerting the strongest influence. The findings affirm that AI integration enhances the measurement, recognition, and reporting of human capital. The study concludes that AI-driven tools improve the strategic application of HRA and recommends targeted AI training for HR and accounting professionals to ensure effective and sustainable use of these technologies in the manufacturing sector.

Optimizing Scale Efficiency: Examining Audit Committee Size and Diligence in Nigerian Manufacturing Firms

2025-05-16T11:02:17+00:00

This study investigates the relationship between audit committee size, audit committee diligence, and scale efficiency in Nigerian manufacturing firms. Audit committee size influences the breadth of expertise and oversight capacity, while diligence, measured by the frequency of meetings, reflects the committee’s commitment to effective monitoring and decision-making. Using a panel dataset, the study analyzed data from 50 listed Nigerian manufacturing firms between 2012 and 2022. Panel regression models were used to evaluate the impact of these audit committee attributes on scale efficiency, measured through scale efficiency based on turnover and scale efficiency based on assets. The findings reveal that audit committee diligence has a positive and statistically significant impact on scale efficiency based on assets, highlighting the importance of regular and structured meetings in enhancing operational efficiency. However, diligence showed an insignificant relationship with scale efficiency based on turnover, indicating that frequent meetings alone may not directly influence revenue-based efficiency. Audit committee size exhibited a negative and statistically significant relationship with scale efficiency based on assets, suggesting that excessively large committees may hinder operational performance. These results contribute to the existing literature on corporate governance by providing empirical evidence on the role of audit committee attributes in promoting scale efficiency in Nigerian manufacturing firms.

Board Political Connections and Earnings Quality: A Reciprocal Relationship

2025-08-20T19:17:07+00:00

The purpose of this study is to investigate whether reciprocity exist among firms with heterogeneous political connections and investigate how it affect earnings quality. Data was collected using panel data, this study employs two-stage least squares regression (2SLS) with the instrumental variable technique to examine the relationship between heterogeneous political ties and earnings quality. The study applies panel data regression analysis, using ordinary least square to a sample of 156 companies listed in Nigerian Stock Exchange (NSX) during the period of 2012-2020. The study finds that, reciprocity exists in the governance mechanism of sample firms, and such reciprocity comes at a cost to the beneficiary firms. Consequently, social exchange and reciprocity mechanism increase operational costs of the firms. Also, the study finds positive and significant relationship between presence and proportion of political connections with both discretionary accrual and real earnings management, while chairman political connection shows negative and significant relationship both discretionary accrual and real earnings management. The study recommends that, policy makers and regulatory bodies in Nigeria should ensure that boards have a majority of truly independent directors without political affiliations to reduce undue influence on financial reporting as well as Mandating the disclosure of any political connections of board members and executives in annual reports and filings to inform stakeholders of potential biases.

Stock Market Performance and Investor Sentiment: A Perspective of Economic Condition in Sub-Saharan Africa

2025-07-02T08:05:50+00:00

Traditionally, literature on stock markets has been predominantly rooted in the efficient market hypothesis (EMH) and the assumption of investor rationality. However, the stock markets across the globe including those in the sub-Sahara African region have witnessed numerous instances of irrational investor behaviour driven by emotional state and beliefs held by investors (behavioural factors beyond market fundamentals) that cannot be adequately explained by the EMH. Therefore, this study examined the effect of investor sentiment and macroeconomic factors on stock market performance in sub-Saharan Africa. This study employed ex post facto research design. Population of the study consists of 26 stock markets operating within the sub-Sahara African region, while 7 most capitalized stock markets in sub-Sahara African countries were purposively sampled. Secondary data were sourced from World Development Indicators (WDI) and African Financials covering the period of 1996 to 2023. The study employed System Dynamic Panel Data Estimation method. The results showed that investor sentiment with (β = 10.389; p-value = 0.000) has significant positive effect on stock market performance; macroeconomic index with (β = -1.666; p-value = 0.411) has negative insignificant effect on stock market performance; and moderating variable with (β = -3.161; p-value = 0.007) has negative significant effect on stock market performance. The study concluded that investor sentiment and macroeconomic factors affect stock market performance in sub-Saharan Africa. The study therefore recommended that investors should remain objective and base their investment decisions not only on emotions, but also on thorough evaluation of market fundamentals.

Impact of Nigerian Blockchain Policy on Digital Currency Market Performance

2025-05-07T10:25:26+00:00

The recent blockchain policy pronouncement in Nigeria gave rise to examine the effect on digital currency market performance. Knowing that policy statements played a dynamic role on market performances, and for the fact that digital currency is link to market volatility, this work analyzed the impact of Nigerian blockchain policy on digital currency market performance during the short-term periods. Based on the exigencies, the research covered a period of 23 weeks using a-weekly data between May 3, 2023 and October 4, 2023. The study employed selected top-five digital currencies including Bitcoin, Ethereum, Tether, BNB, and XRP of their market performances extracted from crypto database. The generalized autoregressive conditional heteroskedasticity (GARCH) least squares analytical tool was applied to ascertain how Bitcoin, Ethereum, Tether, BNB, and XRP digital currencies market performance responded to Nigerian blockchain policy in the short-term. The findings showed that Nigerian blockchain policy impacted negatively on Bitcoin, XRP, and BNB market performance in the short-term. However, Nigerian blockchain policy impacted positively on Tether, and Ethereum market performance in the short-term. The research further revealed Ethereum, and BNB digital currencies constituted significant variables of study. Finally, Nigerian blockchain policymakers were recommended to revised and address the diverse impacts on digital currencies with tailored regulations to enhance investors protection, and support the positive trends for a balance-support of the digital currency market.

Role of Takaful in Supporting the Financial Well-Being of Muslim Elderly in Kano State: A Qualitative Study

2025-08-19T16:00:25+00:00

This qualitative study investigates the role of Takaful, a Shariah-compliant cooperative insurance model, in supporting the financial well-being of Muslim elderly (aged 60+) in Kano State, Nigeria. Data were collected through focus group discussions and key informant interviews with elderly participants, Takaful providers, Shariah scholars, and community leaders. Thematic analysis revealed that awareness and understanding of Takaful among the elderly is generally low, with many participants confusing it with conventional insurance. Religious values play a central role in shaping financial decisions, although cultural reliance on family and community support often reduces the perceived need for formal financial schemes. Participants also reported acute financial challenges, including income insecurity, high healthcare costs, and limited access to pensions. Furthermore, adoption is hindered by product complexity, trust deficits, and the lack of elderly-specific offerings; however, opportunities exist in mosque-based awareness campaigns, flexible payment options, and collaboration with religious leaders. The study concludes that Takaful has significant potential to reduce financial vulnerability among elderly Muslims if tailored to their socio-economic realities and integrated with existing Islamic social finance instruments. Recommendations include targeted financial literacy programs, simplified product design, and stronger community engagement to enhance trust, accessibility, and long-term sustainability.

Examining the Influence of Audit Tenure and Independence on Financial Performance of Cement Companies in Nigeria

2025-07-01T08:09:23+00:00

The study examines the influence of audit tenure and independence on financial performance of cement companies in Nigeria, addressing a critical gap in the empirical literature. The study used quantitative research design, from 2013 and 2021. The data of the study was analysed using robust statistical techniques and panel least squares regression. The results reveal a significant positive relationship between auditor tenure and financial performance, auditor independence indicates a significant negative relationship with financial performance, indicating that compromised objectivity may detrimentally impact financial results. These findings stresses the complexities inherent in balancing audit tenure and independence to strength financial transparency and performance, particularly in sectors critical to Nigeria's economic growth, such as cement production. This research contributes valuable insights into the interplay between audit characteristics and financial performance, offering practical recommendations for stakeholders aiming to strengthen audit practices in the Nigerian context. Emphasis or focus on auditors' tenure and independence effectively, firms can improve their financial reporting integrity, thereby enhancing investor confidence and fostering sustainable economic development.

Effect of Board size and Institutional Ownership on Corporate Tax Avoidance of Listed Money Banks in Nigeria

2025-05-28T09:01:25+00:00

This study examines the effect board size and institutional ownership, and corporate tax avoidance among deposit money banks in Nigeria. From 2015 to 2021, the research posits that effective tax rates (ETR) serve as a proxy for tax avoidance. The findings reveal that board size does not significantly influence tax avoidance, indicating that larger boards do not necessarily lead to increased tax avoidance efficiency. Institutional ownership presents a positive but statistically insignificant relationship with tax avoidance, suggesting that while institutional shareholders may influence tax avoidance, their impact remains weak. These results lead to the conclusion that corporate governance mechanisms among deposit money banks in Nigeria, as measured by board size and institutional ownership, do not substantively affect tax avoidance behaviors. Therefore, regulatory bodies should enhance corporate governance frameworks and monitor banking operations to mitigate tax avoidance, while exploring other governance attributes that may have a more pronounced effect on tax planning outcomes.

Liquidity Management and Market Value of Listed Deposit Money Banks in Nigeria

2025-08-14T14:15:14+00:00

Illiquidity issue, due to high non-performing loan, reduces bank’s market capitalisation. This study looked at the influence of liquidity management on the market value of listed deposit money banks in Nigeria. The particular objectives examined; the influence of loan to deposit ratio, ascertain the impact of current ratio, and consider the influence of cash reserve ratio on the market value (Tobin Q and share price) of the banks. The 14 banks listed on Nigerian Exchange Group (NGX) comprised the study’s population. An ex post facto research design was utilised while a purposive sampling technique was applied to select 12 banks. Secondary data on liquidity management and market value were obtained from the annual reports as well as accounts of sampled banks over a period of 12 years (2011 to 2022). Inferential as well as descriptive statistics were utilised to analysed data obtained. Based on panel regression – random effect, the results revealed that only loan to deposit ratio among other substitutes had negative but significant influence on the market value (Tobin Q and share price). This indicates that banks should avoid a high loan-to-deposit ratio as it reduced a bank's market capitalisation. In conclusion, liquidity management influenced the market value of banks listed in Nigeria. This study recommended that while liquidity is essential, bank’s management should not maintain a higher rate of loan to deposit ratio because it will lessen the bank’s market capitalisation which will in turn weaken their capability to measure up with their financial responsibilities.

Effect of Computerized Accounting System on Audit Process Efficiency in National Youth Service Corps Branches of Northeastern, Nigeria

2025-06-19T17:08:57+00:00

This study examined the effects of computerized accounting system on audit process efficiency in Nigeria with reference NYSC. The study adopted survey cross-sectional research design and collected data using primary method through self-administered questionnaire from 136 NYSC staff of finance and accounting department, and internal audit department in the six states of northeastern Nigeria. The collected data was analyzed using PLS-Structural Equation Modelling (PLS-SEM). It was found that system quality, self-efficacy and innovativeness have significant positive effect on audit process efficiency of NYSC while information quality was insignificantly related. In line with the findings the study recommended that NYSC should implement a schedule for regular accounting system maintenance and update to ensure the sustenance of optimal performance and compatibility with the evolving auditing requirements. Also, there is need for a comprehensive review of the existing audit process and procedures to identify inefficiencies and bottlenecks that caused its unrelatedness to the quality of accounting information. Finally, government should develop policies and guidelines that promote the adoption and innovative accounting technologies and methodologies within government agencies not only the NYSC.

Sustainability Reporting and Firms’ Value in Nigeria: Moderating Role of Research and Development Expenditure: A Conceptual Review

2025-05-16T10:58:55+00:00

This study aims to review the moderating effect of research and development expenditures on the relationship between sustainability reporting and firm value of non-financial firms in Nigeria from 2017 to 2024. This study adopted literature survey research design as previous researches on the area were examined. The reviews shows that the influence of sustainability reporting on firms' value varies across the sectors, while companies like oil & gas and manufacturing firms benefit most from environmental reporting, other service-based industries like telecommunications gain more from the social disclosure. The review further reveals that while sustainability reporting positively influences firms’ value, R&D expenditures could align sustainability efforts and enhance communication to stockholders. The paper therefore recommends that government should make sustainability practices mandatory among the companies in Nigeria.

Institutional Factors and Loan Repayment Culture among SMEs Credit Takers of Microfinance Banks in Kwara State, Nigeria

2025-07-02T08:06:19+00:00

The sustainability and efficacy of microfinance banks are greatly aided by their culture of loan repayment; however, Nigerian microfinance banks have been dealing with high default rates and excessive debt from loans given to credit takers across various categories. Hence, this study investigates the effect of institutional factors on the loan repayment culture of the credit takers of microfinance banks in Kwara State. The study gathered primary data from loan officers, account officers and marketers of the 33 microfinance banks in Kwara State as of 2023. Using multi-stage sampling technique, 160 microfinance banks’ staff across the 3 senatorial districts in Kwara State were sampled. The study utilized robust OLS regression to evaluate the model, which confirmed that regulatory shortcomings along with operational inefficiencies and governance issues impact microfinance bank loan repayment practices among SMEs in Kwara State. However, the loan repayment culture of Kwara State microfinance banks’ credit takers is not affected by government policy. The study concluded that institutional factors influence the payment culture of microfinance bank borrowers in Kwara State. Hence, it was recommended that regulatory frameworks and stringent parameters be designed to eliminate operational inefficiencies and monitor credit disbursement and recovery.

Evaluating the Impact of Risk on Financial Performance of Listed Insurance Firms in Nigeria

2025-05-17T13:31:12+00:00

This study examined the risk and financial performance of listed insurance firms in Nigeria for the period of ten (10) years from 2015 to 2024. The population of the study consists of 16 insurance firms listed on the floor of the Nigerian Stock Exchange as at 31st December 2024. Secondary data was extracted from the audited financial reports of the sampled insurance firms. The data was analyzed using the regression model. The study findings revealed that solvency risk is positively and significantly influencing the financial performance of listed insurance firms in Nigeria. Conversely, reinsurance risk revealed a statistically insignificant negative impact on financial performance. The study concluded that solvency risk has a strong association with the financial performance of the firms for the period. The study recommends that Insurance firms should strive to maintain adequate net income which can cover thier total liabilities as they fall due. Furthermore, policymakers in government should formulate economic and financial policies with due cognizance of factors that can affect an insurance firm’s performance. This requires a holistic view to policy formulation to ensure that cost trade-offs are considerably minimized in all strata of the economy.

Impact of Taxation on Revenue Generation in Nigeria

2025-06-02T16:55:04+00:00

The government's drive to earn more income prompts it to consider boosting taxes from sources other than oil. This research studied the influence of taxation on revenue generation in Nigeria during a 43-year period, from 1981 to 2023. The study used an ex-post facto research approach, with data acquired from the Central Bank of Nigeria and the Federal Inland Revenue Service's yearly statistics bulletin. The study used a variety of estimating methodologies, including descriptive and inferential statistics, to assess the short and long-term link between taxes and revenue production in Nigeria. The study found that Value added tax, company income tax has positive and significant impact on revenue generation, whereas customs and excise duty has negative and insignificant impact on revenue generation. The study found that taxes is an effective and predictable weapon in the hands of the government for increasing revenue generation in the country. The study recommends that federal inland revenue services must close VAT revenue leakages, educate company managers on the importance of remitting VAT revenue, and train personnel in charge of collecting VAT revenue so as to increase revenue generation in the country.

Budget Compliance and Public Sector Performance: A case Study of Kwara State

2025-06-02T17:14:51+00:00

This study investigates the impact of budget compliance on public sector performance in Nigeria, focusing on budget preparation, implementation, and compliance. The population comprises directors and heads of departments from five ministries in Ilorin, Kwara State. Data were sourced through structured questionnaires administered to 100 respondents selected via convenience sampling. The data were analyzed using descriptive and inferential statistics with SPSS version 23. The results reveal that budget planning and implementation significantly influence public sector performance, accounting for 66% and 68.1% of the variance, respectively. Budget compliance also enhances efficiency, effectiveness, and quality of service delivery. In conclusion, the study shows that strengthening budgetary processes, especially compliance, is vital for achieving effective service delivery and sustainable public sector performance. And recommends participatory budgeting, stronger monitoring mechanisms, and strict enforcement of compliance to improve transparency and accountability.

Promoting Financial Inclusion of Correctional Facility Inmates in Kano State through Islamic Banking: A Qualitative Inquiry

2025-08-19T14:34:46+00:00

Financial inclusion “remains a critical driver of socio-economic development, yet marginalized groups such as correctional facility inmates are often excluded from formal financial systems. This study explores the prospects and challenges of promoting financial inclusion for inmates in Kano State, Nigeria, through Islamic banking services. Employing a qualitative research design, data were collected via in-depth interviews and focus group discussions involving 30 inmates, 10 prison officials, 7 Islamic banking representatives, and 5 policymakers. Thematic analysis revealed four key themes: limited awareness and financial literacy regarding Islamic finance among inmates; institutional and regulatory barriers restricting inmates’ access to banking services; perceived benefits of Shariah-compliant products such as Qard al-Hasan (interest-free loans) and Mudarabah (profit-sharing) in supporting rehabilitation; and recommendations for implementing inclusive financial services within prisons. Findings highlight a significant knowledge gap and restrictive legal frameworks that inhibit financial engagement but underscore strong stakeholder interest in leveraging Islamic finance as a tool for social reintegration and economic empowerment. The study advocates for policy reforms, development of secure digital banking platforms, and integration of financial literacy programs focused on Islamic finance principles within correctional rehabilitation curricula. By bridging Islamic finance with prison reform initiatives, this research contributes novel insights to the growing discourse on ethical finance and social justice. Ultimately, enabling financial inclusion for correctional inmates through Islamic banking in Kano State holds promise for fostering responsible financial behaviour, reducing recidivism, and promoting sustainable” post-release livelihoods.

Effect of Monetary Policy Instruments on Domestic Private Investment in Nigeria

2025-06-30T16:44:38+00:00

In recent time, monetary policies directives of successive Nigeria Governments in the last four decades have been called to question with the instability in the economy resulting from policies summersault aimed at addressing issues of exchange volatility, interest rate instability and excessive money supply not backed with productivity. In light of this revelations, this study set out to examine the effect of monetary policy instruments on domestic private investment in Nigeria from 1986-2022. This study used domestic private investment as the dependent variable with gross and explanatory variables of selected monetary policy instrument: money supply, exchange rate and interest rate. The ARDL-ECM technique was used for statistical analyses and findings indicate that money supply and exchange rates have a significant relationship with domestic private investment while interest rates has an insignificant relationship with domestic private investment. The study concludes that the interplay of money supply and exchange rates do determine the level of domestic private investment in Nigeria. The study recommends that government should be intentional in ensuring that the broad money supply do not overwhelm the economy by ensuring that excess liquidity is mopped-up through open market operations to provide funds through banks for investment. Also, the exchange rate should be made stable to reduce its volatility as moderate stability in exchange rate has a positive effect on the growth of domestic private investment in Nigeria.

Influence of Board Members’ Nationality and Ethnicity on Sustainability Reporting of Listed Deposit Moneybanks in Nigeria

2023-08-30T08:45:03+00:00

This study examines the effect of board nationality and ethnicity on the sustainability reporting of listed deposit money banks in Nigeria between 2013 and 2020. Secondary data was collected from annual reports and accounts of listed deposit money banks through the Nigeria Exchange Group (NGX). The panel least squares regression analysis results showed that the ethnicity of board members has a detrimental impact on the sustainability reporting of listed deposit money banks in Nigeria. Also, the study revealed no proof of a connection between the nationality of board members and the sustainability reporting of listed deposit money banks in Nigeria. The study concluded that board members’ ethnicity will enhance the level of sustainability reporting of listed deposit money banks in Nigeria