Dr. Bashir Ahmad Daneji - Academia.edu (original) (raw)

Papers by Dr. Bashir Ahmad Daneji

Copernican Journal of Finance & Accounting

The objective of this study was to examine the implications of financial inclusion on capital mar... more The objective of this study was to examine the implications of financial inclusion on capital market liquidity in Nigeria. Therefore, we applied Vector Autoregression (VAR) technique to the analysis of the quarterly time series data obtained from Central Bank of Nigeria’s statistical bulletin and World Development Indicators for the period, 2008Q1 to 2018Q4. Findings of this study reveal that deposit penetration, bank penetration and credit penetration have positive but non-significant impact on stock market turnover ratio in Nigeria. Furthermore, unlike deposit penetration which exerts negative and non-significant influence on the value of shares traded ratio; bank penetration and credit penetration have positive but non-significant impact on the value of shares traded ratio in Nigeria. The study posits that financial inclusion exerts no significant influence/implications on stock market liquidity in Nigeria with a very negligible variation in the latter (stock market liquidity) ex...

Indonesian Journal of Corporate Governance and Social Responsibility, Nov 3, 2019

SOKOTO JOURNAL OF MANAGEMENT STUDIES, 2020

MAUTECH JOURNAL OF ECONOMICS STUDIES, 2018

The main aim of this paper is to analyse the behavioural finance theory and its impacts on return... more The main aim of this paper is to analyse the behavioural finance theory and its impacts on return on investments. Other objectives of this work are to assess the extent to which psychology of the mind of an investor affects investments decisions, and also to examine the behaviour of investors and managers toward risk and returns. Also the study identifies how investors design their portfolios according to the rules of their behaviour, and investors hope for riches at a lower level of aspirations. The paper gives an insight in understanding how emotions and cognitive errors influence investors and the decision making process. The methodology used for this study was research design with a case study. Data obtained for the study was through primary source by asking 10 investor in different kind of businesses in Yola metropolis questions that has to do with their behaviour and attitude toward risk averse, risk seekers and risk neutral in investments, and secondary sources such as journals from the field of psychology and finance. The method used for analysing the data obtained is through the use of statistical tools called the Cochran Q test. The study reveals that there is no significant difference between the behaviour of investors attitude towards the different kind of risk, investors fear loss of cash should in case the business do not augur well for them, they are of the opinion that they only strike on opportunity when it comes their way.

MAUTECH JOURNAL OF ECONOMICS STUDIES, 2017

Over the years, Nigeria's business environment has shown a considerable improvement in trade and ... more Over the years, Nigeria's business environment has shown a considerable improvement in trade and investment. As a result, FDI inflows into Nigeria have improved tremendously over the last decade and also ranked 41 st largest export economy in the world. Despite these improvements in FDI and Export unemployment remains a major challenge in Nigeria. Therefore, this study investigates the effects of foreign direct investment and export individually and jointly on employment generation in Nigeria. Time series secondary data was collected from 1999-2013. Multiple regression models wereused to analyze the data. The study also used Augment Dickey-Fuller techniques and Granger causality in testing the unit root property of the series and direction of causality between the variables. The regression model reveals a positive and significant relationship between FDI and employment generation. The study also found that export trade exerted positive but insignificant relationship with employment generation. More so, the regression results further shows that the F-statisticin the model jointly impacted significantly on the level of employment generation in Nigeria. Based on the analysis and the findings the study recommends that government should liberalize all the sectors of the economy, enhance infrastructural facilities develop strategic economic policies to attract more FDI into the country. The study also suggests the diversification of economy to non-oil sector thereby generate more employment.

Nigerian Journal of Accounting and Finance, 2015

Abstract Nigeria has been battling public financial mismanagement for long with little or no succ... more Abstract
Nigeria has been battling public financial mismanagement for long with little or no success. In 2012, government took a bold step by introducing a public financial accounting system called treasury single accountwhich was totally foreign in its public finance domain. Its implementation was slow and unnoticed up till 2015 when the implementation was full and in toto. This study titled Treasury Single Account: A Panacea to Public Financial Mismanagement in Nigeria is an attempt to examine the term TSA and assess its capability as a tool for public financial mismanagement. The study is not empirical, and secondary data were used. It was found that TSA operation was not well known at the beginning but with time it was understood. Also government is getting the benefits of TSA as derived from its objectives. Among others it was recommended that in releasing funds prompt attention be given to priority sectors and the balance in the TSA at least 50% be invested in short term securities for government to get optimum financial benefit from the system

ADSU Journal of Social and Development Studies, 2009

Adamawa Business Journal, 2007

Dutse Journal of Economics and Development Studies (DUJEDS), Department of Economics and Development Studies, Federal University Dutse, Jigawa State, Nigeria., 2019

Exchange rate is an important variable used as a parameter for determining international competit... more Exchange rate is an important variable used as a parameter for determining international competitiveness and it is being regarded as an indicator of the competitiveness of the currency of any economy and an inverse relationship between this competitiveness exist. The study analysed impact of foreign exchange rate and export relation in Nigeria. In the model specified, export is the dependent while real exchange rate; inflation rate and real interest rate are the independent variables. Data were collected from CBN statistical bulletin and national bureau of statistics (NBS) for the period 1980 - 2017. The statistical techniques used for the analysis are the unit root test, cointegration test; ARDL bound test and post estimation techniques of heteroscedasticity, serial correlation test, and stability test. The result of the empirical analysis for the unit root result were found to be mixed order of integration at level first difference. The result of the ARDL model revealed that there are significant effects of the lag of the variables on the export during the. The ARDL suggests a significant effect of the current year of exports exchange rate and inflation shows a significant effect on current year, second and third on exports. While interest rate also has a significant effect ate current year on export. ARDL bound test shows the there is no long run relationship among the variables given the F-statistics lies below the lower bound of the critical value and finally the post estimation heteroscedasticity test series correlation and stability test indicate that the model is reliable. therefore, the paper recommends exchange rate stabilisation measures to encourage the through the fixed exchange rate regime to reduce the uncertainty in the value of naira in order to enhance the export volume of Nigeria.

Technology audit and production reserves

The object of the research is the relationship between entrepreneurship education and the entrepr... more The object of the research is the relationship between entrepreneurship education and the entrepreneurial intention of students in developing economies. The paper aims at the provision of better understanding of premises for policy making in Higher Educational Institutions of developing economies towards enhancing the growth of entrepreneurship. Data was collected from the students of the multi-campus National Open University of Nigeria via an adapted structured questionnaire. The study utilized the non-parametric method of Structural Equation Modelling with the aid of PLS 3 software. The major finding of the study is the existence of a causal relationship between Entrepreneurship Education and Entrepreneurial Intention of the students of Higher Institutions in developing economies that is in line with several studies conducted in other developing economies. It further affirms the key role of entrepreneurship education in inspiring students’ inclination towards entrepreneurship. It ...

Indonesian Journal Of Business And Economics

This paper investigated the relationship between money market and economic growth in Nigeria. Se... more This paper investigated the relationship between money market and economic growth in Nigeria. Secondary data for 38 years covering the period of 1981 to 2018 was used. Econometric methods of analysis of Lag Length Selection Criteria, ARDL Bound Test for Cointegration, Long Run and Short Run Estimations and Diagnostics Tests of Serial Correlation, Hetroskedascitity, Cusum Test and Ramsey Reset Test were carried out. The result found that there is long run relationship between money market and economic growth, as indicate by the F-statistics 4.48 which is higher than the upper bound values at all level of significance. This suggests that there exists a long run relation between money market and economic growth. The results of the error correction suggest the validity of long-run relationship between money market and economic growth. The study recommends that financial market regulatory body to increase the size of the money market through policy relaxation in order to achieve economi...

Indonesian Journal Of Business And Economics

This study examines the impact and nexus between cases of coronavirus disease (COVID-19) and the ... more This study examines the impact and nexus between cases of coronavirus disease (COVID-19) and the returns of seven classes of collective investment schemes (CIS) in Nigeria (bond funds, equity-based funds, fixed income funds, ethical funds, money market funds, mixed funds and real estate funds) within the first 52 weeks of the outbreak of the pandemic in Nigeria, 27th February, 2020 to 26th February, 2021 using Auto-regressive Distributed Lag and Pearson correlation techniques. Empirical findings suggest that COVID-19 cases and returns of collective investment schemes in Nigeria are cointegrated while COVID-19 cases are negatively correlated with the returns from bonds funds, equity based funds and money market funds as against the positive correlation between COVID-19 cases and returns from ethical, fixed income and real estate funds. Furthermore, COVID-19 confirmed cases are negatively related with returns from mixed fund as against the fund’s returns’ positive correlation with COV...

The object of research is an alternative strategy that could drive a faster achievement of higher... more The object of research is an alternative strategy that could drive a faster achievement of higher rate of financial inclusion for developing nations. This is important as financial exclusion has been identified as one of the development inhibitors for developing nations. Most of them have made a concerted effort to drive financial inclusion but due to poor implementation and, more often than not, the wrong strategy to drive a faster inclusion, most developing nations have very high exclusion rates. This problem is examined by the case of Nigeria, one of such developing nations, which reports a dismal position of 68 % exclusion rate even after 4 years of its implementation of the strategy for financial inclusion, of 2012, for 80 % by 2020.In the course of this study, literature triangulation is used, to extract workable alternatives that were presented at discussion panels with practical knowledge of the worst indicated geo-political zones in Nigeria. According to various reports of ...

International Journal of Advances in Applied Sciences, 2018

The main objective of this study is to empirically examine the impact of Power Sector Reform on M... more The main objective of this study is to empirically examine the impact of Power Sector Reform on Manufacturing and Services Sector in Nigeria between 1999-2016. The study employed secondary annual time series data sourced from World Bank database (2016). The methodology adopted for the study was Augmented Dickey-Fuller (ADF); a test for long-run relationship using ARDL Bounds Testing approach with analysis of long-run and short-run dynamics in the model. A striking revelation from the study is the inverse relationship that exists between manufacturing output and electricity consumption in Nigeria within the period referenced. This negative relationship is not unconnected with widespread allegation of misappropriation of budgeted funds for the Power Sector by successive administrations in Nigeria since 1999. It must be stated in clear terms that constant and consistent electricity generation, transmission and distribution is sine-qua-none for the growth of the national economy. Virt...

In this study, we applied Vector Autoregression (VAR) technique to the analysis of financial incl... more In this study, we applied Vector Autoregression (VAR) technique to the analysis of financial inclusion and capital market liquidity in Nigeria from 2008Q1 to 2018Q4 using data obtained from Central of Bank of Nigeria's statistical bulletin and World Development Indicators. Three indicators of financial inclusion-deposit penetration, bank penetration and credit penetration are examined vis-à-vis each of the two indicators of capital market liquidity in Nigeria-stock market turnover and value of shares traded ratios. This study reveals that deposit penetration, bank penetration and credit penetration have positive but non-significant impact on stock market turnover ratio in Nigeria. Furthermore, unlike deposit penetration which exerts negative and non-significant influence on the value of shares traded ratio; bank penetration and credit penetration have positive but nonsignificant impact on the value of shares traded ratio in Nigeria. The study posits that financial inclusion exerts no significant influence/implications on stock market liquidity in Nigeria with a very negligible variation in the latter (stock market liquidity) explained by the former (financial inclusion). It is therefore recommended that accounts and bank penetrations should be re-engineered towards their translations to high volume and value of capital market transactions rather than mere financial penetration without any capital market implications in Nigeria.

The main objective of this study is to empirically examine the impact of Power Sector Reform on M... more The main objective of this study is to empirically examine the impact of Power Sector Reform on Manufacturing and Services Sector in Nigeria between 1999-2016. The study employed secondary annual time series data sourced from World Bank database (2016). The methodology adopted for the study was Augmented Dickey-Fuller (ADF); a test for long-run relationship using ARDL Bounds Testing approach with analysis of long-run and shortrun dynamics in the model. A striking revelation from the study is the inverse relationship that exists between manufacturing output and electricity consumption in Nigeria within the period referenced. This negative relationship is not unconnected with widespread allegation of misappropriation of budgeted funds for the Power Sector by successive administrations in Nigeria since 1999. It must be stated in clear terms that constant and consistent electricity generation, transmission and distribution is sine-qua-none for the growth of the national economy. Virtually all sectors of the economy depend on the supply of electricity to do business and so the lack of this vital ingredient of growth contributes in no small measure in stagnating economic growth and development. Efforts at reforming the power sector can only be fruitful when ALL stakeholders in the power sector including the political class put away their personal agendas and take the bull by the horn towards rescuing the nation from the looming danger of stagnant economic growth. Furthermore, there is the need for the Nigerian government to come up with new, better and alternative ways of improving energy generation and supply, as well as proper maintenance of electricity infrastructure in the country.

Technology audit and production reserves

The object of research is an alternative strategy that could drive a faster achievement of higher... more The object of research is an alternative strategy that could drive a faster achievement of higher rate of financial inclusion for developing nations. This is important as financial exclusion has been identified as one of the development inhibitors for developing nations. Most of them have made a concerted effort to drive financial inclusion but due to poor implementation and, more often than not, the wrong strategy to drive a faster inclusion, most developing nations have very high exclusion rates. This problem is examined by the case of Nigeria, one of such developing nations, which reports a dismal position of 68 % exclusion rate even after 4 years of its implementation of the strategy for financial inclusion, of 2012, for 80 % by 2020. In the course of this study, literature triangulation is used, to extract workable alternatives that were presented at discussion panels with practical knowledge of the worst indicated geo-political zones in Nigeria . According to various reports of Enhanced Financial Inclusion in Nigeria (EFInA) these are the North-east and the North-west geo-political zones. As a result of this study it is shown that the Refreshed strategy is utilising the olden system of pull strategies which has left more people, on a numeric basis, excluded than at the base year of strategy implementation. This study, therefore, recommends the push strategy, through a reorientation of the mind of the excluded, in order to drive a faster Financial Inclusion. A faster inclusion, at least faster than the rate of population growth, would produce a better financial inclusion index and truly accelerated economic growth. In the future, the proposed approach is of an empirical study of actual excluded members of the societies of the core bottleneck communities.

Benchmarking: An International Journal

PurposeDespite the growing unforeseen and catastrophic events that disrupt business operations, e... more PurposeDespite the growing unforeseen and catastrophic events that disrupt business operations, empirical studies on the impact of operational disruption (OD) on small and medium enterprises' (SMEs) performance dimensions are limited. The study aims to investigate the moderating effect of disruption orientation (DO) and government support (GS) on the relationship between coronavirus disease (COVID-19) OD and SMEs' performance.Design/methodology/approachQuantitative survey method was used to collect data from 170 SMEs in Nigeria, through hand-delivery questionnaires. Partial least square (PLS) structural equation modeling (SEM) was employed to analyze the data.FindingsThe result shows no significant relationship between COVID-19 OD, DO and GS with SMEs' financial performance (FP). However, the relationship between COVID-19 OD and non-financial performance (NFP) is negatively significant. The relationship between DO and NFP is positively significant. DO and GS have insigni...

Indonesian Journal Of Business And Economics

Purpose � the purpose of this paper to investigate customer sophistication of deposit money banks... more Purpose � the purpose of this paper to investigate customer sophistication of deposit money banks in Yola, Adamawa state, Nigeria.Design/methodology/approach � this study adopts the quantitative survey method with a sample of 375 deposit money banks customers from Yola metropolis using purposive sampling technique. Similarly, PLS-SEM approach was used in data analysis to confirm validity of the model and subsequently analyze the structural model for obtaining the path analysis.Findings � Relationship between search orientation, and market experience are approximately equal in terms of positive strength, while innovativeness of customers emerged as the least in terms of strength in positive relationship. Customers are therefore less innovative when it comes to general knowledge and experience in evaluating the prospects of different options. Brand value orientation is also a strong determinant of customer sophistication because respondents are more attached to brands they are more fa...

Journal of Islamic Banking and Finance, 2015

This paper examined customers' perception towards non-interest banking services of deposit money ... more This paper examined customers' perception towards non-interest banking services of deposit money banks in Jimeta, Adamawa state, Nigeria. The study sought to examine whether knowledge influences the perception of customers towards non-interest banking services of Deposit Money Banks (DMBs) in Jimeta metropolis, Adamawa state and determine whether there are differences in perception of customers towards Non-Interest Banking Services (NIBS) based on gender, educational qualification and religion. The study used a total of 450 copies of a well-structured questionnaire, administered on customers of three selected Deposits Money Banks in Adamawa state. A total of 371 copies of the questionnaire were returned and appropriately filled. The study made use of both descriptive and inferential statistics to obtain results. The findings revealed that knowledge has a significant positive influence on the perception of customers towards non-interest banking services of banks as F-statistic =46.98 at 0.05 significant level. The results also indicate that there is no significant difference in perception of customers based on gender, educational qualification and religion. The study recommends that DMBs should initiate programmes aimed at sensitizing and educating people about non-interest banking. Such enlightenment will help eliminate people's misconception of the subject.The Central Bank of Nigeria should play more active and pragmatic role in ensuring that the staff handling noninterest services receive the relevant and required training, in order to facilitate the rapid growth of the industry.

Copernican Journal of Finance & Accounting

The objective of this study was to examine the implications of financial inclusion on capital mar... more The objective of this study was to examine the implications of financial inclusion on capital market liquidity in Nigeria. Therefore, we applied Vector Autoregression (VAR) technique to the analysis of the quarterly time series data obtained from Central Bank of Nigeria’s statistical bulletin and World Development Indicators for the period, 2008Q1 to 2018Q4. Findings of this study reveal that deposit penetration, bank penetration and credit penetration have positive but non-significant impact on stock market turnover ratio in Nigeria. Furthermore, unlike deposit penetration which exerts negative and non-significant influence on the value of shares traded ratio; bank penetration and credit penetration have positive but non-significant impact on the value of shares traded ratio in Nigeria. The study posits that financial inclusion exerts no significant influence/implications on stock market liquidity in Nigeria with a very negligible variation in the latter (stock market liquidity) ex...

Indonesian Journal of Corporate Governance and Social Responsibility, Nov 3, 2019

SOKOTO JOURNAL OF MANAGEMENT STUDIES, 2020

MAUTECH JOURNAL OF ECONOMICS STUDIES, 2018

The main aim of this paper is to analyse the behavioural finance theory and its impacts on return... more The main aim of this paper is to analyse the behavioural finance theory and its impacts on return on investments. Other objectives of this work are to assess the extent to which psychology of the mind of an investor affects investments decisions, and also to examine the behaviour of investors and managers toward risk and returns. Also the study identifies how investors design their portfolios according to the rules of their behaviour, and investors hope for riches at a lower level of aspirations. The paper gives an insight in understanding how emotions and cognitive errors influence investors and the decision making process. The methodology used for this study was research design with a case study. Data obtained for the study was through primary source by asking 10 investor in different kind of businesses in Yola metropolis questions that has to do with their behaviour and attitude toward risk averse, risk seekers and risk neutral in investments, and secondary sources such as journals from the field of psychology and finance. The method used for analysing the data obtained is through the use of statistical tools called the Cochran Q test. The study reveals that there is no significant difference between the behaviour of investors attitude towards the different kind of risk, investors fear loss of cash should in case the business do not augur well for them, they are of the opinion that they only strike on opportunity when it comes their way.

MAUTECH JOURNAL OF ECONOMICS STUDIES, 2017

Over the years, Nigeria's business environment has shown a considerable improvement in trade and ... more Over the years, Nigeria's business environment has shown a considerable improvement in trade and investment. As a result, FDI inflows into Nigeria have improved tremendously over the last decade and also ranked 41 st largest export economy in the world. Despite these improvements in FDI and Export unemployment remains a major challenge in Nigeria. Therefore, this study investigates the effects of foreign direct investment and export individually and jointly on employment generation in Nigeria. Time series secondary data was collected from 1999-2013. Multiple regression models wereused to analyze the data. The study also used Augment Dickey-Fuller techniques and Granger causality in testing the unit root property of the series and direction of causality between the variables. The regression model reveals a positive and significant relationship between FDI and employment generation. The study also found that export trade exerted positive but insignificant relationship with employment generation. More so, the regression results further shows that the F-statisticin the model jointly impacted significantly on the level of employment generation in Nigeria. Based on the analysis and the findings the study recommends that government should liberalize all the sectors of the economy, enhance infrastructural facilities develop strategic economic policies to attract more FDI into the country. The study also suggests the diversification of economy to non-oil sector thereby generate more employment.

Nigerian Journal of Accounting and Finance, 2015

Abstract Nigeria has been battling public financial mismanagement for long with little or no succ... more Abstract
Nigeria has been battling public financial mismanagement for long with little or no success. In 2012, government took a bold step by introducing a public financial accounting system called treasury single accountwhich was totally foreign in its public finance domain. Its implementation was slow and unnoticed up till 2015 when the implementation was full and in toto. This study titled Treasury Single Account: A Panacea to Public Financial Mismanagement in Nigeria is an attempt to examine the term TSA and assess its capability as a tool for public financial mismanagement. The study is not empirical, and secondary data were used. It was found that TSA operation was not well known at the beginning but with time it was understood. Also government is getting the benefits of TSA as derived from its objectives. Among others it was recommended that in releasing funds prompt attention be given to priority sectors and the balance in the TSA at least 50% be invested in short term securities for government to get optimum financial benefit from the system

ADSU Journal of Social and Development Studies, 2009

Adamawa Business Journal, 2007

Dutse Journal of Economics and Development Studies (DUJEDS), Department of Economics and Development Studies, Federal University Dutse, Jigawa State, Nigeria., 2019

Exchange rate is an important variable used as a parameter for determining international competit... more Exchange rate is an important variable used as a parameter for determining international competitiveness and it is being regarded as an indicator of the competitiveness of the currency of any economy and an inverse relationship between this competitiveness exist. The study analysed impact of foreign exchange rate and export relation in Nigeria. In the model specified, export is the dependent while real exchange rate; inflation rate and real interest rate are the independent variables. Data were collected from CBN statistical bulletin and national bureau of statistics (NBS) for the period 1980 - 2017. The statistical techniques used for the analysis are the unit root test, cointegration test; ARDL bound test and post estimation techniques of heteroscedasticity, serial correlation test, and stability test. The result of the empirical analysis for the unit root result were found to be mixed order of integration at level first difference. The result of the ARDL model revealed that there are significant effects of the lag of the variables on the export during the. The ARDL suggests a significant effect of the current year of exports exchange rate and inflation shows a significant effect on current year, second and third on exports. While interest rate also has a significant effect ate current year on export. ARDL bound test shows the there is no long run relationship among the variables given the F-statistics lies below the lower bound of the critical value and finally the post estimation heteroscedasticity test series correlation and stability test indicate that the model is reliable. therefore, the paper recommends exchange rate stabilisation measures to encourage the through the fixed exchange rate regime to reduce the uncertainty in the value of naira in order to enhance the export volume of Nigeria.

Technology audit and production reserves

The object of the research is the relationship between entrepreneurship education and the entrepr... more The object of the research is the relationship between entrepreneurship education and the entrepreneurial intention of students in developing economies. The paper aims at the provision of better understanding of premises for policy making in Higher Educational Institutions of developing economies towards enhancing the growth of entrepreneurship. Data was collected from the students of the multi-campus National Open University of Nigeria via an adapted structured questionnaire. The study utilized the non-parametric method of Structural Equation Modelling with the aid of PLS 3 software. The major finding of the study is the existence of a causal relationship between Entrepreneurship Education and Entrepreneurial Intention of the students of Higher Institutions in developing economies that is in line with several studies conducted in other developing economies. It further affirms the key role of entrepreneurship education in inspiring students’ inclination towards entrepreneurship. It ...

Indonesian Journal Of Business And Economics

This paper investigated the relationship between money market and economic growth in Nigeria. Se... more This paper investigated the relationship between money market and economic growth in Nigeria. Secondary data for 38 years covering the period of 1981 to 2018 was used. Econometric methods of analysis of Lag Length Selection Criteria, ARDL Bound Test for Cointegration, Long Run and Short Run Estimations and Diagnostics Tests of Serial Correlation, Hetroskedascitity, Cusum Test and Ramsey Reset Test were carried out. The result found that there is long run relationship between money market and economic growth, as indicate by the F-statistics 4.48 which is higher than the upper bound values at all level of significance. This suggests that there exists a long run relation between money market and economic growth. The results of the error correction suggest the validity of long-run relationship between money market and economic growth. The study recommends that financial market regulatory body to increase the size of the money market through policy relaxation in order to achieve economi...

Indonesian Journal Of Business And Economics

This study examines the impact and nexus between cases of coronavirus disease (COVID-19) and the ... more This study examines the impact and nexus between cases of coronavirus disease (COVID-19) and the returns of seven classes of collective investment schemes (CIS) in Nigeria (bond funds, equity-based funds, fixed income funds, ethical funds, money market funds, mixed funds and real estate funds) within the first 52 weeks of the outbreak of the pandemic in Nigeria, 27th February, 2020 to 26th February, 2021 using Auto-regressive Distributed Lag and Pearson correlation techniques. Empirical findings suggest that COVID-19 cases and returns of collective investment schemes in Nigeria are cointegrated while COVID-19 cases are negatively correlated with the returns from bonds funds, equity based funds and money market funds as against the positive correlation between COVID-19 cases and returns from ethical, fixed income and real estate funds. Furthermore, COVID-19 confirmed cases are negatively related with returns from mixed fund as against the fund’s returns’ positive correlation with COV...

The object of research is an alternative strategy that could drive a faster achievement of higher... more The object of research is an alternative strategy that could drive a faster achievement of higher rate of financial inclusion for developing nations. This is important as financial exclusion has been identified as one of the development inhibitors for developing nations. Most of them have made a concerted effort to drive financial inclusion but due to poor implementation and, more often than not, the wrong strategy to drive a faster inclusion, most developing nations have very high exclusion rates. This problem is examined by the case of Nigeria, one of such developing nations, which reports a dismal position of 68 % exclusion rate even after 4 years of its implementation of the strategy for financial inclusion, of 2012, for 80 % by 2020.In the course of this study, literature triangulation is used, to extract workable alternatives that were presented at discussion panels with practical knowledge of the worst indicated geo-political zones in Nigeria. According to various reports of ...

International Journal of Advances in Applied Sciences, 2018

The main objective of this study is to empirically examine the impact of Power Sector Reform on M... more The main objective of this study is to empirically examine the impact of Power Sector Reform on Manufacturing and Services Sector in Nigeria between 1999-2016. The study employed secondary annual time series data sourced from World Bank database (2016). The methodology adopted for the study was Augmented Dickey-Fuller (ADF); a test for long-run relationship using ARDL Bounds Testing approach with analysis of long-run and short-run dynamics in the model. A striking revelation from the study is the inverse relationship that exists between manufacturing output and electricity consumption in Nigeria within the period referenced. This negative relationship is not unconnected with widespread allegation of misappropriation of budgeted funds for the Power Sector by successive administrations in Nigeria since 1999. It must be stated in clear terms that constant and consistent electricity generation, transmission and distribution is sine-qua-none for the growth of the national economy. Virt...

In this study, we applied Vector Autoregression (VAR) technique to the analysis of financial incl... more In this study, we applied Vector Autoregression (VAR) technique to the analysis of financial inclusion and capital market liquidity in Nigeria from 2008Q1 to 2018Q4 using data obtained from Central of Bank of Nigeria's statistical bulletin and World Development Indicators. Three indicators of financial inclusion-deposit penetration, bank penetration and credit penetration are examined vis-à-vis each of the two indicators of capital market liquidity in Nigeria-stock market turnover and value of shares traded ratios. This study reveals that deposit penetration, bank penetration and credit penetration have positive but non-significant impact on stock market turnover ratio in Nigeria. Furthermore, unlike deposit penetration which exerts negative and non-significant influence on the value of shares traded ratio; bank penetration and credit penetration have positive but nonsignificant impact on the value of shares traded ratio in Nigeria. The study posits that financial inclusion exerts no significant influence/implications on stock market liquidity in Nigeria with a very negligible variation in the latter (stock market liquidity) explained by the former (financial inclusion). It is therefore recommended that accounts and bank penetrations should be re-engineered towards their translations to high volume and value of capital market transactions rather than mere financial penetration without any capital market implications in Nigeria.

The main objective of this study is to empirically examine the impact of Power Sector Reform on M... more The main objective of this study is to empirically examine the impact of Power Sector Reform on Manufacturing and Services Sector in Nigeria between 1999-2016. The study employed secondary annual time series data sourced from World Bank database (2016). The methodology adopted for the study was Augmented Dickey-Fuller (ADF); a test for long-run relationship using ARDL Bounds Testing approach with analysis of long-run and shortrun dynamics in the model. A striking revelation from the study is the inverse relationship that exists between manufacturing output and electricity consumption in Nigeria within the period referenced. This negative relationship is not unconnected with widespread allegation of misappropriation of budgeted funds for the Power Sector by successive administrations in Nigeria since 1999. It must be stated in clear terms that constant and consistent electricity generation, transmission and distribution is sine-qua-none for the growth of the national economy. Virtually all sectors of the economy depend on the supply of electricity to do business and so the lack of this vital ingredient of growth contributes in no small measure in stagnating economic growth and development. Efforts at reforming the power sector can only be fruitful when ALL stakeholders in the power sector including the political class put away their personal agendas and take the bull by the horn towards rescuing the nation from the looming danger of stagnant economic growth. Furthermore, there is the need for the Nigerian government to come up with new, better and alternative ways of improving energy generation and supply, as well as proper maintenance of electricity infrastructure in the country.

Technology audit and production reserves

The object of research is an alternative strategy that could drive a faster achievement of higher... more The object of research is an alternative strategy that could drive a faster achievement of higher rate of financial inclusion for developing nations. This is important as financial exclusion has been identified as one of the development inhibitors for developing nations. Most of them have made a concerted effort to drive financial inclusion but due to poor implementation and, more often than not, the wrong strategy to drive a faster inclusion, most developing nations have very high exclusion rates. This problem is examined by the case of Nigeria, one of such developing nations, which reports a dismal position of 68 % exclusion rate even after 4 years of its implementation of the strategy for financial inclusion, of 2012, for 80 % by 2020. In the course of this study, literature triangulation is used, to extract workable alternatives that were presented at discussion panels with practical knowledge of the worst indicated geo-political zones in Nigeria . According to various reports of Enhanced Financial Inclusion in Nigeria (EFInA) these are the North-east and the North-west geo-political zones. As a result of this study it is shown that the Refreshed strategy is utilising the olden system of pull strategies which has left more people, on a numeric basis, excluded than at the base year of strategy implementation. This study, therefore, recommends the push strategy, through a reorientation of the mind of the excluded, in order to drive a faster Financial Inclusion. A faster inclusion, at least faster than the rate of population growth, would produce a better financial inclusion index and truly accelerated economic growth. In the future, the proposed approach is of an empirical study of actual excluded members of the societies of the core bottleneck communities.

Benchmarking: An International Journal

PurposeDespite the growing unforeseen and catastrophic events that disrupt business operations, e... more PurposeDespite the growing unforeseen and catastrophic events that disrupt business operations, empirical studies on the impact of operational disruption (OD) on small and medium enterprises' (SMEs) performance dimensions are limited. The study aims to investigate the moderating effect of disruption orientation (DO) and government support (GS) on the relationship between coronavirus disease (COVID-19) OD and SMEs' performance.Design/methodology/approachQuantitative survey method was used to collect data from 170 SMEs in Nigeria, through hand-delivery questionnaires. Partial least square (PLS) structural equation modeling (SEM) was employed to analyze the data.FindingsThe result shows no significant relationship between COVID-19 OD, DO and GS with SMEs' financial performance (FP). However, the relationship between COVID-19 OD and non-financial performance (NFP) is negatively significant. The relationship between DO and NFP is positively significant. DO and GS have insigni...

Indonesian Journal Of Business And Economics

Purpose � the purpose of this paper to investigate customer sophistication of deposit money banks... more Purpose � the purpose of this paper to investigate customer sophistication of deposit money banks in Yola, Adamawa state, Nigeria.Design/methodology/approach � this study adopts the quantitative survey method with a sample of 375 deposit money banks customers from Yola metropolis using purposive sampling technique. Similarly, PLS-SEM approach was used in data analysis to confirm validity of the model and subsequently analyze the structural model for obtaining the path analysis.Findings � Relationship between search orientation, and market experience are approximately equal in terms of positive strength, while innovativeness of customers emerged as the least in terms of strength in positive relationship. Customers are therefore less innovative when it comes to general knowledge and experience in evaluating the prospects of different options. Brand value orientation is also a strong determinant of customer sophistication because respondents are more attached to brands they are more fa...

Journal of Islamic Banking and Finance, 2015

This paper examined customers' perception towards non-interest banking services of deposit money ... more This paper examined customers' perception towards non-interest banking services of deposit money banks in Jimeta, Adamawa state, Nigeria. The study sought to examine whether knowledge influences the perception of customers towards non-interest banking services of Deposit Money Banks (DMBs) in Jimeta metropolis, Adamawa state and determine whether there are differences in perception of customers towards Non-Interest Banking Services (NIBS) based on gender, educational qualification and religion. The study used a total of 450 copies of a well-structured questionnaire, administered on customers of three selected Deposits Money Banks in Adamawa state. A total of 371 copies of the questionnaire were returned and appropriately filled. The study made use of both descriptive and inferential statistics to obtain results. The findings revealed that knowledge has a significant positive influence on the perception of customers towards non-interest banking services of banks as F-statistic =46.98 at 0.05 significant level. The results also indicate that there is no significant difference in perception of customers based on gender, educational qualification and religion. The study recommends that DMBs should initiate programmes aimed at sensitizing and educating people about non-interest banking. Such enlightenment will help eliminate people's misconception of the subject.The Central Bank of Nigeria should play more active and pragmatic role in ensuring that the staff handling noninterest services receive the relevant and required training, in order to facilitate the rapid growth of the industry.