Zenodo (CERN European Organization for Nuclear Research), Mar 27, 2023
The study reviews the effect of capital adequacy on the performance of Nigerian deposit money ban... more The study reviews the effect of capital adequacy on the performance of Nigerian deposit money banks for the period of 2000-2020. The objective of this study is to examine how capital adequacy has helped deposit money banks achieve an efficient performance. This study adopts an ex-post facto research design, and the sample size is all deposit money banks with international and national authorization in Nigeria. The data used are mainly secondary data collected from the audited annual publications financial statements of all the deposit money banks listed on the Nigerian Stock Exchange. The study employed ordinary least square multiple regression (OLS), descriptive statistical analysis, in addition to E-view electronic packages. According to empirical results at 5% level of significance, findings show that total capital to risk weighted assets, banks capitalization to total credits, and debt to equity ratio (the independent variables to capital adequacy) had direct and inverse linear significant effect on return on assets (dependent variable to performance) of deposit money banks in Nigeria. The study concludes that capital adequacy, one of the key factors affecting the performance of the Nigeria deposit money banks in measuring efficient performance of financial institutions in Nigeria has both direct and inverse linear relationship with efficient performance of banks, therefore, recommends that the Central Bank of Nigeria should effectively regulate the capital and the resources owned by the deposit money banks (DMBs) in Nigeria to globally acceptable standard since the current ₦25 billion and ₦50 billion minimum capital-base requirements cannot justify the banking reality of nowadays. This will help to enhance investment planning, decision making within the financial system and early prevention of systemic bank distress.
International Journal of Research in Finance and Management
This study examined non-performing loans and profitability of selected Deposit Money Banks in Nig... more This study examined non-performing loans and profitability of selected Deposit Money Banks in Nigeria. There has been increasing scholarly debates on the direction of policy to effectively ensure the performance of the banking sector. Whilst some scholars have argued that bank profitability is enhanced by minimizing non-performing loans, others argue that government policies and other factors are integral to the profitability of banks. Doubtful assets, substandard assets and losses were used as proxies for non-performing loans while return on equity, return on assets and net interest margin were used as proxies for banks profitability. The specific objective of the study is to assess the relationship between substandard assets and return on assets of selected Deposit Money banks in Nigeria and to evaluate the relationship between doubtful assets and return on equity of selected Deposit Money banks in Nigeria. Data were obtained from annual accounts of selected banks. In pursuance of the objectives of this study, three hypotheses were formulated and tested using Ordinary Least Square regression analysis. The study found out that there is a significant relationship between Substandard assets and Return on asset; there is a significant relationship between Doubtful asset and Return on equity and that there is a significant relationship between Loss assets and bank's net interest margin of selected Deposit Money Banks in Nigeria at 5% level of significance. The study recommended that there is need for banks in Nigeria to comprehensively engage investors and their customers during loan extension and appraisal to ensure profitability. Banks should actually praticalize the C's of lending, which has to do with character, credit-worthiness, collateral, capacity etc. before administering loan to investors or customers in order to minimize doubtful loans and losses.
THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT, 2023
Challenges of Commercial Banks Regulation in Nigeria 1. Introduction The commercial banking secto... more Challenges of Commercial Banks Regulation in Nigeria 1. Introduction The commercial banking sector in an economy serves as a Catalyst for growth and development. Banks can perform this role through their crucial functions of financial intermediation, provision of an efficient payment system, and facilitating the implementation of government policies. It is not surprising, therefore, that governments all over the world attempt to evolve an efficient banking system, not only for the promotion of efficient intermediation but also for the protection of depositors, encouragement of efficiency, competition, maintenance of public confidence in the system and protection against systemic risk and collapse. Commercial banking business is highly regulated. This is because of the pivotal position the financial industry occupies in most economies. An efficient system is widely accepted and is a sine-qua-non for the efficient functioning of the nation's economy. Thus, for the industry to be efficient, it must be regulated and supervised in view of the failure of the market system to recognize social rationality and the tendency for market participants to take undue risks, which could impair the stability and solvency of their institutions. Regulation of commercial banks remains an integral part of the mechanism for ensuring safe and sound banking practices. At the apex of the regulatory framework for commercial banking in Nigeria is the Central Bank of Nigeria (CBN). However, the Nigerian Deposit insurance corporation (NDIC) exercises shared responsibility with the Central Bank of Nigeria for regulating commercial banks in Nigeria. This is exemplified in the coordinated formulation of supervisory strategies and surveillance on the activities of commercial banks, elimination of supervisory overlap, and establishment of a credible data management and information sharing system. In the main, bank regulation entails an on-site examination of the institutions and an off-site analysis of periodically rendered prudential returns, a process called off-site surveillance. The two activities are mutually reinforcing and designed to timely identify and diagnose emerging problems in individual banks to prescribe the most efficient resolution option. It is worth noting that what is currently happening in Nigeria does not differ widely from what is happening in other nations. Over the years and specifically, since 1952, when the first banking ordinance was promulgated, several other statutes have also been put in place to serve as a legal backbone for the actions of the authorities in regulating the commercial banking industry. The commercial banking system in Nigeria was characterized by high banking failures, necessitated by 'hydraheaded' problems that resulted in the actual declaration of some banks as 'distressed.' The reasons given by the regulatory agencies for declaring the banks as distressed and ripe for liquidation include: Serious deterioration in the financial conditions of the banks, Culminating in the total erosion of their capital base and the dissipation of depositors' funds,
International Journal of Research in Finance and Management, 2023
This study examined non-performing loans and profitability of selected Deposit Money Banks in Nig... more This study examined non-performing loans and profitability of selected Deposit Money Banks in Nigeria. There has been increasing scholarly debates on the direction of policy to effectively ensure the performance of the banking sector. Whilst some scholars have argued that bank profitability is enhanced by minimizing non-performing loans, others argue that government policies and other factors are integral to the profitability of banks. Doubtful assets, substandard assets and losses were used as proxies for non-performing loans while return on equity, return on assets and net interest margin were used as proxies for banks profitability. The specific objective of the study is to assess the relationship between substandard assets and return on assets of selected Deposit Money banks in Nigeria and to evaluate the relationship between doubtful assets and return on equity of selected Deposit Money banks in Nigeria. Data were obtained from annual accounts of selected banks. In pursuance of the objectives of this study, three hypotheses were formulated and tested using Ordinary Least Square regression analysis. The study found out that there is a significant relationship between Substandard assets and Return on asset; there is a significant relationship between Doubtful asset and Return on equity and that there is a significant relationship between Loss assets and bank's net interest margin of selected Deposit Money Banks in Nigeria at 5% level of significance. The study recommended that there is need for banks in Nigeria to comprehensively engage investors and their customers during loan extension and appraisal to ensure profitability. Banks should actually praticalize the C's of lending, which has to do with character, credit-worthiness, collateral, capacity etc. before administering loan to investors or customers in order to minimize doubtful loans and losses.
INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS), 2023
This research work assessed the effect of non-oil sector on the growth of Nigerian economy. The m... more This research work assessed the effect of non-oil sector on the growth of Nigerian economy. The major reason for this study was to proffer solution to question of what else need to be done in order to diversify the economy and develop the non-oil sector to realize its potentials in Nigeria. The specific objectives are; to evaluate the relationship between manufacturing sector output on Nigerian economy and determine the relationship between agricultural output on Nigerian economy. Ex-post facto research design was deemed appropriate for the study. Data for this study were sourced from secondary means especially CBN statistical bulletin. Manufacturing sector output, agricultural sector output, power sector output and total bank credit were used to proxy non-oil sector, while GDP was used to proxy economic growth. Hypotheses were tested using regression analysis (OLS), which was adopted due to its simplicity and unbiasness. The regression was tested using E-view software version 8.0.The result of the study showed manufacturing sector and agricultural sector have significantly contributed to economic growth in Nigeria, while power sector and bank credit have not contributed significantly to economic growth in the country. The study therefore recommends that budget on power sector should be increased and its usage properly monitored to avoid embezzlement of the fund.
International Journal of Novel Research in Marketing Management and Economics, 2023
The study reviews the effect of capital adequacy on the performance of Nigerian deposit money ban... more The study reviews the effect of capital adequacy on the performance of Nigerian deposit money banks for the period of 2000-2020. The objective of this study is to examine how capital adequacy has helped deposit money banks achieve an efficient performance. This study adopts an ex-post facto research design, and the sample size is all deposit money banks with international and national authorization in Nigeria. The data used are mainly secondary data collected from the audited annual publications financial statements of all the deposit money banks listed on the Nigerian Stock Exchange. The study employed ordinary least square multiple regression (OLS), descriptive statistical analysis, in addition to E-view electronic packages. According to empirical results at 5% level of significance, findings show that total capital to risk weighted assets, banks capitalization to total credits, and debt to equity ratio (the independent variables to capital adequacy) had direct and inverse linear significant effect on return on assets (dependent variable to performance) of deposit money banks in Nigeria. The study concludes that capital adequacy, one of the key factors affecting the performance of the Nigeria deposit money banks in measuring efficient performance of financial institutions in Nigeria has both direct and inverse linear relationship with efficient performance of banks, therefore, recommends that the Central Bank of Nigeria should effectively regulate the capital and the resources owned by the deposit money banks (DMBs) in Nigeria to globally acceptable standard since the current ₦25 billion and ₦50 billion minimum capital-base requirements cannot justify the banking reality of nowadays. This will help to enhance investment planning, decision making within the financial system and early prevention of systemic bank distress.
This study estimated the long run and short dynamics between government expenditure and industria... more This study estimated the long run and short dynamics between government expenditure and industrial development in Nigeria from 1981 to 2016 with the view to evaluating how the industrial sector has been influenced by variation in government expenditure. The Autoregressive Distribute Lag (ARDL) was the technique applied. We found with dismay that government expenditure has not positively affected industrial development in Nigeria both in long run and short run despite the continuous rise in government expenditure and various policies of the government towards improving industrial performance in Nigeria. Funds allocated for environmental factors of production such as electricity, road, water, communication, etc. should be appropriately utilized. Political officer holders, contractors executing capital projects, people in corridors of powers, etc. who are embroil in misappropriation or embezzlement of public fund should be properly tried and punished if found guilty.
Asian Journal of Economics, Business and Accounting, 2016
This study examines the contribution of the Nigerian banks to the promotion of non-oil exports. T... more This study examines the contribution of the Nigerian banks to the promotion of non-oil exports. This study adopted econometric time series analysis to examine the contribution of Nigerian banks credit in relation to non-oil exports performance, assess the presence of causal relationship between Nigerian banks credit and non-oil exports performance as well as the direction of the causal relationship. The empirical analyses that were carried out to achieve the objectives include unit root, co-integration and granger causality test, in which changes in non-oil exports performance was regressed against commercial banks credit to non-oil exports, interest rate and inflation using annual series data for the period 1990-2013. The data were sourced from the Central Bank of Nigeria statistical bulletin. The result of the analysis showed that Nigerian banks have not adequately contributed toward the promotion of non-oil exports. The study also found that there is a long run relationship between Nigerian banks credit to non-oil exports and the performance of non-oil exports and no causality between Nigerian banks credit to non-oil exports and non-oil exports performance. Based on the findings, the Central Bank of Nigeria should reduce the current monetary policy rate of 14% to a range of 5%-8% so that when commercial banks add up processing, transaction and other administrative fees, credit would be extended to non-oil exporters at a rate lower than 15%. Furthermore, the Central Bank of Nigeria should as an operational guideline, impose commercial banks to set aside a certain amount of money from their yearly profit for financing of non-oil export as it is the case for small and medium scale enterprises equity scheme.
Abstract: This study examined the effect of consolidation of the Nigerian insurance industry on t... more Abstract: This study examined the effect of consolidation of the Nigerian insurance industry on the growth of the economy. The main problem of this study is that insurance industry in Nigeria has not been able to mobilize the needed long term funds for economic development. This is because people are skeptical about insurance operations in Nigeria. They have poor brand perception of insurance in Nigeria and inadequate funding for investment purposes. The main objective of this study is to examine the contributions of the consolidation of the Nigeria Insurance Industry on economic growth. The study used secondary data collected from CBN Statistical Bulletin and subjected them to Augmented Dickey Fuller unit root test to capture the stationarity of the employed variables. Johansen co-integration test was used to ascertain the long run association among the variables under investigation and Ordinary Least Square regression to ascertain the relationship existing between the explained an...
ERN: Other Development Economics: Macroeconomic Issues in Developing Economies (Topic), 2020
This study examined the effects of monetary policy on selected macroeconomic variables in Nigeria... more This study examined the effects of monetary policy on selected macroeconomic variables in Nigerian economy 1981-2019.Monetary policy aims at achieving certain national goals which have historically included full employment, high output, stable price level (low inflation rate), and a stable exchange rate (desirable balance of payments). The impact of monetary policy on economic growth of Nigeria has always been a subject of controversy owing to different views expressed many authors. The specific objectives of this study are to assess the extent to which monetary policy affects Real Gross Domestic Product and determine the relationship between monetary policy and inflation rate. The study, employed ex-post factor research design. Data for the study were secondary data quantitatively retrieved from the annual reports and accounts of the Central Bank of Nigeria and World Bank database. Unit root test, Johansen Co-integration Technique, Vector Autoregressive as well as least regression ...
Corporate Finance: Capital Structure & Payout Policies eJournal, 2020
This study examined the relationship between dividend policy and performance of selected quoted f... more This study examined the relationship between dividend policy and performance of selected quoted firms in Nigeria. Dividend policy is challenging for the directors and financial Managers of any company because different investors have different views on present cash dividends and future capital gains. Another confusion that pops up is regarding the extent of effect of dividends on the share price. Firms equally believe that when dividends are not paid as at when due then it will affect company’s share price. The objective of the study is to examine the relationship between dividend policy and return on assets. Data were sourced through secondary sources. The data collected were tested using E-View. Ordinary least square technique was used for estimation. The study found out that there is no significant positive relationship between dividend policy and return on assets. The study recommends among others that organizations should ensure that they have a good and robust dividend.
Zenodo (CERN European Organization for Nuclear Research), Mar 27, 2023
The study reviews the effect of capital adequacy on the performance of Nigerian deposit money ban... more The study reviews the effect of capital adequacy on the performance of Nigerian deposit money banks for the period of 2000-2020. The objective of this study is to examine how capital adequacy has helped deposit money banks achieve an efficient performance. This study adopts an ex-post facto research design, and the sample size is all deposit money banks with international and national authorization in Nigeria. The data used are mainly secondary data collected from the audited annual publications financial statements of all the deposit money banks listed on the Nigerian Stock Exchange. The study employed ordinary least square multiple regression (OLS), descriptive statistical analysis, in addition to E-view electronic packages. According to empirical results at 5% level of significance, findings show that total capital to risk weighted assets, banks capitalization to total credits, and debt to equity ratio (the independent variables to capital adequacy) had direct and inverse linear significant effect on return on assets (dependent variable to performance) of deposit money banks in Nigeria. The study concludes that capital adequacy, one of the key factors affecting the performance of the Nigeria deposit money banks in measuring efficient performance of financial institutions in Nigeria has both direct and inverse linear relationship with efficient performance of banks, therefore, recommends that the Central Bank of Nigeria should effectively regulate the capital and the resources owned by the deposit money banks (DMBs) in Nigeria to globally acceptable standard since the current ₦25 billion and ₦50 billion minimum capital-base requirements cannot justify the banking reality of nowadays. This will help to enhance investment planning, decision making within the financial system and early prevention of systemic bank distress.
International Journal of Research in Finance and Management
This study examined non-performing loans and profitability of selected Deposit Money Banks in Nig... more This study examined non-performing loans and profitability of selected Deposit Money Banks in Nigeria. There has been increasing scholarly debates on the direction of policy to effectively ensure the performance of the banking sector. Whilst some scholars have argued that bank profitability is enhanced by minimizing non-performing loans, others argue that government policies and other factors are integral to the profitability of banks. Doubtful assets, substandard assets and losses were used as proxies for non-performing loans while return on equity, return on assets and net interest margin were used as proxies for banks profitability. The specific objective of the study is to assess the relationship between substandard assets and return on assets of selected Deposit Money banks in Nigeria and to evaluate the relationship between doubtful assets and return on equity of selected Deposit Money banks in Nigeria. Data were obtained from annual accounts of selected banks. In pursuance of the objectives of this study, three hypotheses were formulated and tested using Ordinary Least Square regression analysis. The study found out that there is a significant relationship between Substandard assets and Return on asset; there is a significant relationship between Doubtful asset and Return on equity and that there is a significant relationship between Loss assets and bank's net interest margin of selected Deposit Money Banks in Nigeria at 5% level of significance. The study recommended that there is need for banks in Nigeria to comprehensively engage investors and their customers during loan extension and appraisal to ensure profitability. Banks should actually praticalize the C's of lending, which has to do with character, credit-worthiness, collateral, capacity etc. before administering loan to investors or customers in order to minimize doubtful loans and losses.
THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT, 2023
Challenges of Commercial Banks Regulation in Nigeria 1. Introduction The commercial banking secto... more Challenges of Commercial Banks Regulation in Nigeria 1. Introduction The commercial banking sector in an economy serves as a Catalyst for growth and development. Banks can perform this role through their crucial functions of financial intermediation, provision of an efficient payment system, and facilitating the implementation of government policies. It is not surprising, therefore, that governments all over the world attempt to evolve an efficient banking system, not only for the promotion of efficient intermediation but also for the protection of depositors, encouragement of efficiency, competition, maintenance of public confidence in the system and protection against systemic risk and collapse. Commercial banking business is highly regulated. This is because of the pivotal position the financial industry occupies in most economies. An efficient system is widely accepted and is a sine-qua-non for the efficient functioning of the nation's economy. Thus, for the industry to be efficient, it must be regulated and supervised in view of the failure of the market system to recognize social rationality and the tendency for market participants to take undue risks, which could impair the stability and solvency of their institutions. Regulation of commercial banks remains an integral part of the mechanism for ensuring safe and sound banking practices. At the apex of the regulatory framework for commercial banking in Nigeria is the Central Bank of Nigeria (CBN). However, the Nigerian Deposit insurance corporation (NDIC) exercises shared responsibility with the Central Bank of Nigeria for regulating commercial banks in Nigeria. This is exemplified in the coordinated formulation of supervisory strategies and surveillance on the activities of commercial banks, elimination of supervisory overlap, and establishment of a credible data management and information sharing system. In the main, bank regulation entails an on-site examination of the institutions and an off-site analysis of periodically rendered prudential returns, a process called off-site surveillance. The two activities are mutually reinforcing and designed to timely identify and diagnose emerging problems in individual banks to prescribe the most efficient resolution option. It is worth noting that what is currently happening in Nigeria does not differ widely from what is happening in other nations. Over the years and specifically, since 1952, when the first banking ordinance was promulgated, several other statutes have also been put in place to serve as a legal backbone for the actions of the authorities in regulating the commercial banking industry. The commercial banking system in Nigeria was characterized by high banking failures, necessitated by 'hydraheaded' problems that resulted in the actual declaration of some banks as 'distressed.' The reasons given by the regulatory agencies for declaring the banks as distressed and ripe for liquidation include: Serious deterioration in the financial conditions of the banks, Culminating in the total erosion of their capital base and the dissipation of depositors' funds,
International Journal of Research in Finance and Management, 2023
This study examined non-performing loans and profitability of selected Deposit Money Banks in Nig... more This study examined non-performing loans and profitability of selected Deposit Money Banks in Nigeria. There has been increasing scholarly debates on the direction of policy to effectively ensure the performance of the banking sector. Whilst some scholars have argued that bank profitability is enhanced by minimizing non-performing loans, others argue that government policies and other factors are integral to the profitability of banks. Doubtful assets, substandard assets and losses were used as proxies for non-performing loans while return on equity, return on assets and net interest margin were used as proxies for banks profitability. The specific objective of the study is to assess the relationship between substandard assets and return on assets of selected Deposit Money banks in Nigeria and to evaluate the relationship between doubtful assets and return on equity of selected Deposit Money banks in Nigeria. Data were obtained from annual accounts of selected banks. In pursuance of the objectives of this study, three hypotheses were formulated and tested using Ordinary Least Square regression analysis. The study found out that there is a significant relationship between Substandard assets and Return on asset; there is a significant relationship between Doubtful asset and Return on equity and that there is a significant relationship between Loss assets and bank's net interest margin of selected Deposit Money Banks in Nigeria at 5% level of significance. The study recommended that there is need for banks in Nigeria to comprehensively engage investors and their customers during loan extension and appraisal to ensure profitability. Banks should actually praticalize the C's of lending, which has to do with character, credit-worthiness, collateral, capacity etc. before administering loan to investors or customers in order to minimize doubtful loans and losses.
INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS), 2023
This research work assessed the effect of non-oil sector on the growth of Nigerian economy. The m... more This research work assessed the effect of non-oil sector on the growth of Nigerian economy. The major reason for this study was to proffer solution to question of what else need to be done in order to diversify the economy and develop the non-oil sector to realize its potentials in Nigeria. The specific objectives are; to evaluate the relationship between manufacturing sector output on Nigerian economy and determine the relationship between agricultural output on Nigerian economy. Ex-post facto research design was deemed appropriate for the study. Data for this study were sourced from secondary means especially CBN statistical bulletin. Manufacturing sector output, agricultural sector output, power sector output and total bank credit were used to proxy non-oil sector, while GDP was used to proxy economic growth. Hypotheses were tested using regression analysis (OLS), which was adopted due to its simplicity and unbiasness. The regression was tested using E-view software version 8.0.The result of the study showed manufacturing sector and agricultural sector have significantly contributed to economic growth in Nigeria, while power sector and bank credit have not contributed significantly to economic growth in the country. The study therefore recommends that budget on power sector should be increased and its usage properly monitored to avoid embezzlement of the fund.
International Journal of Novel Research in Marketing Management and Economics, 2023
The study reviews the effect of capital adequacy on the performance of Nigerian deposit money ban... more The study reviews the effect of capital adequacy on the performance of Nigerian deposit money banks for the period of 2000-2020. The objective of this study is to examine how capital adequacy has helped deposit money banks achieve an efficient performance. This study adopts an ex-post facto research design, and the sample size is all deposit money banks with international and national authorization in Nigeria. The data used are mainly secondary data collected from the audited annual publications financial statements of all the deposit money banks listed on the Nigerian Stock Exchange. The study employed ordinary least square multiple regression (OLS), descriptive statistical analysis, in addition to E-view electronic packages. According to empirical results at 5% level of significance, findings show that total capital to risk weighted assets, banks capitalization to total credits, and debt to equity ratio (the independent variables to capital adequacy) had direct and inverse linear significant effect on return on assets (dependent variable to performance) of deposit money banks in Nigeria. The study concludes that capital adequacy, one of the key factors affecting the performance of the Nigeria deposit money banks in measuring efficient performance of financial institutions in Nigeria has both direct and inverse linear relationship with efficient performance of banks, therefore, recommends that the Central Bank of Nigeria should effectively regulate the capital and the resources owned by the deposit money banks (DMBs) in Nigeria to globally acceptable standard since the current ₦25 billion and ₦50 billion minimum capital-base requirements cannot justify the banking reality of nowadays. This will help to enhance investment planning, decision making within the financial system and early prevention of systemic bank distress.
This study estimated the long run and short dynamics between government expenditure and industria... more This study estimated the long run and short dynamics between government expenditure and industrial development in Nigeria from 1981 to 2016 with the view to evaluating how the industrial sector has been influenced by variation in government expenditure. The Autoregressive Distribute Lag (ARDL) was the technique applied. We found with dismay that government expenditure has not positively affected industrial development in Nigeria both in long run and short run despite the continuous rise in government expenditure and various policies of the government towards improving industrial performance in Nigeria. Funds allocated for environmental factors of production such as electricity, road, water, communication, etc. should be appropriately utilized. Political officer holders, contractors executing capital projects, people in corridors of powers, etc. who are embroil in misappropriation or embezzlement of public fund should be properly tried and punished if found guilty.
Asian Journal of Economics, Business and Accounting, 2016
This study examines the contribution of the Nigerian banks to the promotion of non-oil exports. T... more This study examines the contribution of the Nigerian banks to the promotion of non-oil exports. This study adopted econometric time series analysis to examine the contribution of Nigerian banks credit in relation to non-oil exports performance, assess the presence of causal relationship between Nigerian banks credit and non-oil exports performance as well as the direction of the causal relationship. The empirical analyses that were carried out to achieve the objectives include unit root, co-integration and granger causality test, in which changes in non-oil exports performance was regressed against commercial banks credit to non-oil exports, interest rate and inflation using annual series data for the period 1990-2013. The data were sourced from the Central Bank of Nigeria statistical bulletin. The result of the analysis showed that Nigerian banks have not adequately contributed toward the promotion of non-oil exports. The study also found that there is a long run relationship between Nigerian banks credit to non-oil exports and the performance of non-oil exports and no causality between Nigerian banks credit to non-oil exports and non-oil exports performance. Based on the findings, the Central Bank of Nigeria should reduce the current monetary policy rate of 14% to a range of 5%-8% so that when commercial banks add up processing, transaction and other administrative fees, credit would be extended to non-oil exporters at a rate lower than 15%. Furthermore, the Central Bank of Nigeria should as an operational guideline, impose commercial banks to set aside a certain amount of money from their yearly profit for financing of non-oil export as it is the case for small and medium scale enterprises equity scheme.
Abstract: This study examined the effect of consolidation of the Nigerian insurance industry on t... more Abstract: This study examined the effect of consolidation of the Nigerian insurance industry on the growth of the economy. The main problem of this study is that insurance industry in Nigeria has not been able to mobilize the needed long term funds for economic development. This is because people are skeptical about insurance operations in Nigeria. They have poor brand perception of insurance in Nigeria and inadequate funding for investment purposes. The main objective of this study is to examine the contributions of the consolidation of the Nigeria Insurance Industry on economic growth. The study used secondary data collected from CBN Statistical Bulletin and subjected them to Augmented Dickey Fuller unit root test to capture the stationarity of the employed variables. Johansen co-integration test was used to ascertain the long run association among the variables under investigation and Ordinary Least Square regression to ascertain the relationship existing between the explained an...
ERN: Other Development Economics: Macroeconomic Issues in Developing Economies (Topic), 2020
This study examined the effects of monetary policy on selected macroeconomic variables in Nigeria... more This study examined the effects of monetary policy on selected macroeconomic variables in Nigerian economy 1981-2019.Monetary policy aims at achieving certain national goals which have historically included full employment, high output, stable price level (low inflation rate), and a stable exchange rate (desirable balance of payments). The impact of monetary policy on economic growth of Nigeria has always been a subject of controversy owing to different views expressed many authors. The specific objectives of this study are to assess the extent to which monetary policy affects Real Gross Domestic Product and determine the relationship between monetary policy and inflation rate. The study, employed ex-post factor research design. Data for the study were secondary data quantitatively retrieved from the annual reports and accounts of the Central Bank of Nigeria and World Bank database. Unit root test, Johansen Co-integration Technique, Vector Autoregressive as well as least regression ...
Corporate Finance: Capital Structure & Payout Policies eJournal, 2020
This study examined the relationship between dividend policy and performance of selected quoted f... more This study examined the relationship between dividend policy and performance of selected quoted firms in Nigeria. Dividend policy is challenging for the directors and financial Managers of any company because different investors have different views on present cash dividends and future capital gains. Another confusion that pops up is regarding the extent of effect of dividends on the share price. Firms equally believe that when dividends are not paid as at when due then it will affect company’s share price. The objective of the study is to examine the relationship between dividend policy and return on assets. Data were sourced through secondary sources. The data collected were tested using E-View. Ordinary least square technique was used for estimation. The study found out that there is no significant positive relationship between dividend policy and return on assets. The study recommends among others that organizations should ensure that they have a good and robust dividend.
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