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African Economic and Management Review

This study examined the price and exchange rate hedging elasticity of cryptocurrency demand in Ni... more This study examined the price and exchange rate hedging elasticity of cryptocurrency demand in Nigeria. To achieve the objective, the study employed Autoregressive Distributed Lag (ADRL) model to estimate both the short-run and long-run response of demand to changes in crypto price, consumer income and exchange rate. The Study found among others that cryptocurrency is demanded as a financial asset (either as money for exchange purpose or asset for speculative purpose). It was discovered that cryptocurrency price changes have significant impact on cryptocurrency demand but price inelastic. Meaning that a percentage changes in crypto price leads to less than proportionate change in cryptocurrency demand. It was also discovered that Nigeria real exchange rate has negative relationship with cryptocurrency demand meaning that as Naira real exchange rate to dollar is falling, the demand for cryptocurrency is rising. Other factors that are influencing cryptocurrency demand in Nigeria inclu...

Applied Journal of Economic Managemnet and Social Sciences, Nov 8, 2021

The role of human capital on economic growth across countries has over time garnered lots of disc... more The role of human capital on economic growth across countries has over time garnered lots of discussion in economic literature. This is fundamental, given that the actual determinant of the difference in income per capita across countries or why some countries are growing faster than other countries has remained an unresolved issue. This study provides a different insight into the nexus between human capital and economic growth by accounting for the role of social capabilities in a panel framework. Specifically, the study covers 40 African countries between 1998-2019, where the General Method of Moment (GMM) was employed to estimate the model. Specifically, it was discovered that without improved legal institutions and better economic opportunities, human capital impact on the growth of income per capita across countries is insignificant though positive. The study concludes that the effectiveness of knowledge accumulation and adoption of technology in a country is hinged on the availability of an enhanced legal, social, and economic environment.

Economic and Financial Review, 2017

This Article is brought to you for free and open access by CBN Institutional Repository. It has b... more This Article is brought to you for free and open access by CBN Institutional Repository. It has been accepted for inclusion in Economic and Financial Review by an authorized editor of CBN Institutional Repository. For more information, please contact

Nutrients, 2021

Preventive zinc supplementation provided as a stand-alone dispersible tablet, or via home fortifi... more Preventive zinc supplementation provided as a stand-alone dispersible tablet, or via home fortification as multiple micronutrient powders (MNPs), has been considered a potential strategy to prevent zinc deficiency and improve health (including immune) outcomes among children in low- and middle-income countries. However, the impact of zinc supplementation on immune profiles has not been well characterized. We sought to define the effect of zinc supplementation on peripheral blood gene expression and cytokine levels among young children in Dhaka, Bangladesh. In a sub-study of a large randomized, controlled, community-based efficacy trial where children 9-11 months of age received one of the following interventions on a daily basis for 24 weeks: (1) MNPs containing 10 mg of zinc; (2) dispersible tablet containing 10 mg zinc; or (3) placebo powder, we used RNA sequencing to profile the peripheral blood gene expression, as well as highly sensitive multiplex assays to detect cytokine prof...

Background: To ensure price and economic stability, the central bank of Nigeria has adopted sever... more Background: To ensure price and economic stability, the central bank of Nigeria has adopted several unconventional monetary policy measure such as SMEs credit intervention with the aim of boosting credit availability in specific sector of the economy. The intuition is that rise in productive activities/investment will indirectly promotes price stability the core mandate of the bank. Therefore, this study investigated the challenges facing implementation of real sector (SMEs) intervention programmes of the CBN since year 2000 to 2020. Method: The study employed mixed method using descriptive survey approach to sample 62 intervention programme implementers and 400 Micro, Small and Medium Sized Enterprises (SMEs). Findings: The findings reveal among others that high loan default risks, politicization of programmes, and inadequate infrastructural development are the leading challenges facing programme implementers in Nigeria. Applicants’ non-eligibility in programmes applied for, poor b...

The extent monetary policy is effective in achieving financial inclusion has been scarcely invest... more The extent monetary policy is effective in achieving financial inclusion has been scarcely investigated in the literature. Hence, this study examined the extent monetary policy is effective in achieving financial inclusion in Nigeria and whether FinTech improves or impedes this relationship. Quarterly time series data spanning from 2009 to 2019 from the Central Bank of Nigeria were used for estimations. Johansen’s cointegration test and fully modified OLS were used to carry out the analysis. The result shows that measures of monetary policy effectiveness, such as inflation rate and lending rate all had a significant effect on financial inclusion in the country. It was also discovered that accounting for FinTech in the model improves the effectiveness of the monetary policy on financial inclusion in Nigeria, contrary to popular assertion that Fintech impedes monetary policy effectiveness. The study concludes by emphasizing the role of monetary policy in achieving financial inclusion ...

The role of human capital on economic growth across countries has over time garnered lots of disc... more The role of human capital on economic growth across countries has over time garnered lots of discussion in economic literature. This is fundamental, given that the actual determinant of the difference in income per capita across countries or why some countries are growing faster than other countries has remained an unresolved issue. This study provide a different insight into the nexus between human capital and economic growth by accounting for the role of social capabilities in a panel framework. Specifically, the study covers 40 African countries between 1998-2019, where General Method of Moment (GMM) was employed to estimate the model. Specifically, it was discovered that without improved legal institution and better economic opportunities, human capital impact on the growth of income per capita across countries is insignificant though positive. The study concludes that the effectiveness of knowledge accumulation and adoption of technology in a country is hinged on the availabili...

Applied Journal of Economics, Management and Social Sciences

To ensure price and economic stability, the central bank of Nigeria has adopted several unconvent... more To ensure price and economic stability, the central bank of Nigeria has adopted several unconventional monetary policy measure such as MSMEs credit intervention with the aim of boosting credit availability in specific sector of the economy. The intuition is that rise in productive activities/investment will indirectly promotes price stability the core mandate of the bank. Therefore, this study investigated the challenges facing implementation of real sector (MSMEs) intervention programmes of the CBN since year 2000 to 2020. The study employed mixed method using descriptive survey approach to sample 62 intervention programme implementers and 400 Micro, Small and Medium Sized Enterprises (MSMEs). The findings reveal among others that high loan default risks, politicization of programmes, and inadequate infrastructural development are the leading challenges facing programme implementers in Nigeria. Applicants' non-eligibility in programmes applied for, poor business plan or inadequ...

African Economic and Management Review

This study examined the price and exchange rate hedging elasticity of cryptocurrency demand in Ni... more This study examined the price and exchange rate hedging elasticity of cryptocurrency demand in Nigeria. To achieve the objective, the study employed Autoregressive Distributed Lag (ADRL) model to estimate both the short-run and long-run response of demand to changes in crypto price, consumer income and exchange rate. The Study found among others that cryptocurrency is demanded as a financial asset (either as money for exchange purpose or asset for speculative purpose). It was discovered that cryptocurrency price changes have significant impact on cryptocurrency demand but price inelastic. Meaning that a percentage changes in crypto price leads to less than proportionate change in cryptocurrency demand. It was also discovered that Nigeria real exchange rate has negative relationship with cryptocurrency demand meaning that as Naira real exchange rate to dollar is falling, the demand for cryptocurrency is rising. Other factors that are influencing cryptocurrency demand in Nigeria inclu...

Applied Journal of Economic Managemnet and Social Sciences, Nov 8, 2021

The role of human capital on economic growth across countries has over time garnered lots of disc... more The role of human capital on economic growth across countries has over time garnered lots of discussion in economic literature. This is fundamental, given that the actual determinant of the difference in income per capita across countries or why some countries are growing faster than other countries has remained an unresolved issue. This study provides a different insight into the nexus between human capital and economic growth by accounting for the role of social capabilities in a panel framework. Specifically, the study covers 40 African countries between 1998-2019, where the General Method of Moment (GMM) was employed to estimate the model. Specifically, it was discovered that without improved legal institutions and better economic opportunities, human capital impact on the growth of income per capita across countries is insignificant though positive. The study concludes that the effectiveness of knowledge accumulation and adoption of technology in a country is hinged on the availability of an enhanced legal, social, and economic environment.

Economic and Financial Review, 2017

This Article is brought to you for free and open access by CBN Institutional Repository. It has b... more This Article is brought to you for free and open access by CBN Institutional Repository. It has been accepted for inclusion in Economic and Financial Review by an authorized editor of CBN Institutional Repository. For more information, please contact

Nutrients, 2021

Preventive zinc supplementation provided as a stand-alone dispersible tablet, or via home fortifi... more Preventive zinc supplementation provided as a stand-alone dispersible tablet, or via home fortification as multiple micronutrient powders (MNPs), has been considered a potential strategy to prevent zinc deficiency and improve health (including immune) outcomes among children in low- and middle-income countries. However, the impact of zinc supplementation on immune profiles has not been well characterized. We sought to define the effect of zinc supplementation on peripheral blood gene expression and cytokine levels among young children in Dhaka, Bangladesh. In a sub-study of a large randomized, controlled, community-based efficacy trial where children 9-11 months of age received one of the following interventions on a daily basis for 24 weeks: (1) MNPs containing 10 mg of zinc; (2) dispersible tablet containing 10 mg zinc; or (3) placebo powder, we used RNA sequencing to profile the peripheral blood gene expression, as well as highly sensitive multiplex assays to detect cytokine prof...

Background: To ensure price and economic stability, the central bank of Nigeria has adopted sever... more Background: To ensure price and economic stability, the central bank of Nigeria has adopted several unconventional monetary policy measure such as SMEs credit intervention with the aim of boosting credit availability in specific sector of the economy. The intuition is that rise in productive activities/investment will indirectly promotes price stability the core mandate of the bank. Therefore, this study investigated the challenges facing implementation of real sector (SMEs) intervention programmes of the CBN since year 2000 to 2020. Method: The study employed mixed method using descriptive survey approach to sample 62 intervention programme implementers and 400 Micro, Small and Medium Sized Enterprises (SMEs). Findings: The findings reveal among others that high loan default risks, politicization of programmes, and inadequate infrastructural development are the leading challenges facing programme implementers in Nigeria. Applicants’ non-eligibility in programmes applied for, poor b...

The extent monetary policy is effective in achieving financial inclusion has been scarcely invest... more The extent monetary policy is effective in achieving financial inclusion has been scarcely investigated in the literature. Hence, this study examined the extent monetary policy is effective in achieving financial inclusion in Nigeria and whether FinTech improves or impedes this relationship. Quarterly time series data spanning from 2009 to 2019 from the Central Bank of Nigeria were used for estimations. Johansen’s cointegration test and fully modified OLS were used to carry out the analysis. The result shows that measures of monetary policy effectiveness, such as inflation rate and lending rate all had a significant effect on financial inclusion in the country. It was also discovered that accounting for FinTech in the model improves the effectiveness of the monetary policy on financial inclusion in Nigeria, contrary to popular assertion that Fintech impedes monetary policy effectiveness. The study concludes by emphasizing the role of monetary policy in achieving financial inclusion ...

The role of human capital on economic growth across countries has over time garnered lots of disc... more The role of human capital on economic growth across countries has over time garnered lots of discussion in economic literature. This is fundamental, given that the actual determinant of the difference in income per capita across countries or why some countries are growing faster than other countries has remained an unresolved issue. This study provide a different insight into the nexus between human capital and economic growth by accounting for the role of social capabilities in a panel framework. Specifically, the study covers 40 African countries between 1998-2019, where General Method of Moment (GMM) was employed to estimate the model. Specifically, it was discovered that without improved legal institution and better economic opportunities, human capital impact on the growth of income per capita across countries is insignificant though positive. The study concludes that the effectiveness of knowledge accumulation and adoption of technology in a country is hinged on the availabili...

Applied Journal of Economics, Management and Social Sciences

To ensure price and economic stability, the central bank of Nigeria has adopted several unconvent... more To ensure price and economic stability, the central bank of Nigeria has adopted several unconventional monetary policy measure such as MSMEs credit intervention with the aim of boosting credit availability in specific sector of the economy. The intuition is that rise in productive activities/investment will indirectly promotes price stability the core mandate of the bank. Therefore, this study investigated the challenges facing implementation of real sector (MSMEs) intervention programmes of the CBN since year 2000 to 2020. The study employed mixed method using descriptive survey approach to sample 62 intervention programme implementers and 400 Micro, Small and Medium Sized Enterprises (MSMEs). The findings reveal among others that high loan default risks, politicization of programmes, and inadequate infrastructural development are the leading challenges facing programme implementers in Nigeria. Applicants' non-eligibility in programmes applied for, poor business plan or inadequ...