MICHAEL OSENI - Academia.edu (original) (raw)
Papers by MICHAEL OSENI
Academic Journal of Interdisciplinary Studies, Mar 1, 2014
The study examines the appropriateness of multiple taxes in developing nations like Nigeria. Desp... more The study examines the appropriateness of multiple taxes in developing nations like Nigeria. Despite clear and unambiguous legislations that contain list of fees and taxes to be collected, all tiers of governments, ministries, departments and agencies are involved in collecting taxes that are not within this list. Various names are coined for these multiple taxes. The study used content analysis method to highlight challenges that are peculiar to Nigeria. Introducing taxes that are not backed by laws to investors because of the apparent profitability of their businesses and the attempt to increase revenue base is like shifting the goal post after the ball has been put into the net. This may lead to disinvestment. The new directive of making it illegal to use tax consultants by all tiers of government and mandating police to arrest those involved in collecting taxes outside the ones listed in The Taxes and Levies (Approved Rates for Collection) Act, 1998 will go a long way to put sanity to business environment. Healthy business environment will lead corporate entities to fulfill their corporate social responsibilities to the societies.
Journal of Educational and Social Research, 2015
The influx of the establishment of private higher educational institutions in Nigeria since the i... more The influx of the establishment of private higher educational institutions in Nigeria since the inception of the present democratic dispensation in 1999 is unprecedented. Their effectiveness compared to public institutions is the focus of this paper. Content analysis method was used in this study and the focus was on private universities. Most of these private institutions were established purely for business motives as costs are beyond many Nigerians. The shortcomings in respect of dearth of qualified personnel and infrastructural facilities are more pronounced in these institutions. The unusual interferences of proprietors were common in academic affairs and academic freedom is nonexistent. The fear of the public in respect of acceptability and performance of the outputs to the challenges of graduate unemployment is being allayed by the outstanding performances of some of these graduates in open competitive labour markets. The regulatory and supervisory organs for universities should properly monitor these institutions in order not to turn them to either glorified secondary schools or intellectual prison yards. These private institutions should concentrate on courses that can address the challenges of the time as the liberalisation of higher education will go a long way to ameliorate the social welfare of the citizens like what is being witnessed in the telecommunication industry.
Budget speeches are normally given names to align with currents trends in the land. The national ... more Budget speeches are normally given names to align with currents trends in the land. The national budget speech of 2013 was named Fiscal Consolidation with Inclusive Growth. For the 2013 fiscal year, an amount of N4.92 trillion was presented as a budget in which Education sector got N426.53 billion which is 8.7% of the budget against international benchmark for developing countries which is 26%. There were growths both in amount and proportionN400.15 billion representing 8.43% in 2012 to N426.53 billion which is 8.7% in 2013. The main issue of concern that forms the focus of this paper is the question: were these amounts budgeted for education enough? Data used are Federal Government Recurrent Expenditure from 2000 to 2011 sourced from Central Bank of Nigeria CBN Statistical Bulletin (2000 2011). Simple descriptive statistics was used and it was found out that though there were increases but they fall short of the international benchmarks. The paper recommends that internally generated revenues (IGR) should be increased from 10 % to 15% to have access to additional funds and education should not be left in the hands of bureaucrats or politicians who are not aware of the implications for the quality of life of the coming generations.
South asian Journal of Social Studies and Economics, Apr 19, 2018
The study examined the influence of credit management practices on financial performance of Niger... more The study examined the influence of credit management practices on financial performance of Nigerian banks with specific reference to First bank Plc. Data was collected using Purposive sampling technique from thirty (30) respondents as a sample size used to collect data from the respondents. Both descriptive and inferential statistics were used to analyze data, such as frequency, percentage, weighted mean score, and multiple regression. The result revealed that credit management practices have a significant positive influence on the financial performance of First bank. The result concluded that client appraisal, credit risk control, and collection policy are major predictors of financial performance of First bank. Subsequently, the study recommended that management of other banks should learn from First bank by enhancing their client appraisal techniques, credit risk control and adopting a more stringent policy to improve their financial performance.
Mediterranean Journal of Social Sciences, 2014
China's import to Nigeria has been going up in the past decade compared to Nigeria's export to th... more China's import to Nigeria has been going up in the past decade compared to Nigeria's export to the country which was significantly very low. This has resulted in an unfavourable balance of trade against Nigeria. Data used for this study is sourced from Central Bank of Nigeria Annual Report 2012 in respect of non oil import by country of origin. Imports from all the industrialized nations are a little more than that of China. China has involved itself in every aspect of Nigerian economy like road construction, railway, power plants and telecommunication engineering. The hitherto country which Nigerian citizens found difficult travelling to had relaxed its entry requirement by granting visa exemption to Nigerian government officials. The future of trade relationship between China and Nigeria was further analysed and it was recommended that China should involve itself in manufacturing in Nigeria rather than exporting its finished goods to the country as this will increase the country's Gross Domestic Product and reduce unemployment among the teeming youths. Dumping should be discouraged in all its ramifications. Unskilled labour especially in construction companies should be given to the locals instead of exporting it into the country.
Journal of Educational and Social Research, 2015
Corruption and its impact on the polity, social environment and business entities is the focus of... more Corruption and its impact on the polity, social environment and business entities is the focus of this paper. Qualitative research approach and retrospective literature analysis were used for the study. Contemporary issues that were germane to the study of corruption and its effects on the nation and business world were thoroughly analysed. It was found out that corruption festered in the country due to poor political structures; lack of openness and transparency in public service; insincerity on the part of government in the prosecution of war against corruption; constitutional loopholes like plea bargain and inordinate ambition of the political class who turned politics to profession. The business world also had its fair share of corruption due to weak internal control; collusion and negligence of the oversight functionaries in not fulfilling the tenets of good corporate governance. It is recommended that the constitutional loopholes of plea bargain should be repealed; the nation ...
The Foreign Direct Investment (FDI) in Nigeria incr eased by 75.5% between 2005, when the bulk of... more The Foreign Direct Investment (FDI) in Nigeria incr eased by 75.5% between 2005, when the bulk of the country’s external debt was cancelled by her ma jor external creditors and 2009. Is such an increase significant? Data sourced from The World B ank on FDI for the five-year pre-debt cancellation period (2001-2005) were compared with those of the 2006-2010 five-year post-debt cancellation period using paired sample t-test stat istics. The paired sample correlation of both periods is negative and not statistically significa nt at 0.05. Their paired mean difference which is statistically significant at 0.05 in conformity with a ‘priori’ expectation negates some earlier works . The heavy inflow of FDI into the country however do es not have any significant effect on manufacturing capacity utilization rate, employment rate, life expectancy and poverty level. One is therefore tempted to regard the improvement the rel ief has brought to the economy as disillusioning. This paper recommends ...
Cooperative thrift and credit societies in paid emp loyment organizations admit only members of s... more Cooperative thrift and credit societies in paid emp loyment organizations admit only members of staff of such organizations. Memberships of such societie s elapsed when members retire or leave the organization. Withdrawing members are paid only the balances in their savings and shares. Investments held by the societies are not taken int o consideration when these members are paid off. Values of shares in limited liability companies are not based on nominal values of shares held at the time of disposal. Market value is a key factor. Thi s paper assessed the fairness or otherwise of such practices in departmental cooperative societies, in The Polytechnic, Ibadan Oyo State, Nigeria as a case study. An empirical investigation was undertak en, using the chi square analysis and it was found that departmental cooperative society members are not satisfied with the present system relating to withdrawal or disengagement from the so cieties. Following our findings, we recommend that investment...
In 1985, poverty incidence in Nigeria had risen to 46. 3% from 27.2% in 1980. This later rose to ... more In 1985, poverty incidence in Nigeria had risen to 46. 3% from 27.2% in 1980. This later rose to almost 70% in 2010. The problems of poverty were found mai nly from misuse of resources the country is endowed with. The rising poverty trend is also traceable to people orientation about governance. More than fou r billion barrels of crude oil were sold between 2004 and 2010 and at an exchange rate of N120/$ and $70 dollars per barrel, the total proceeds would have b een at least N32 trillion. For a transformation age nda to work in all its ramifications, 2% of the populat ion should not be cornering 80% of the nations' resources as it is presently in operation by the to p echelon public servants. Poverty alleviation programmes to the present time were reviewed and sh ortcomings were highlighted. It was found out that governments at all levels are not doing enough to cpoverty as it is being done in developing countries. The paper then recommends that infrastru ctural facilities like...
Budget speeches are normally given names to align with currents trends in the land. The national ... more Budget speeches are normally given names to align with currents trends in the land. The national budget speech of 2013 was named Fiscal Consolidation with Inclusive Growth. For the 2013 fiscal year, an amount of N4.92 trillion was presented as a budget in which Education sector got N426.53 billion which is 8.7% of the budget against international benchmark for developing countries which is 26%. There were growths both in amount and proportionN400.15 billion representing 8.43% in 2012 to N426.53 billion which is 8.7% in 2013. The main issue of concern that forms the focus of this paper is the question: were these amounts budgeted for education enough? Data used are Federal Government Recurrent Expenditure from 2000 to 2011 sourced from Central Bank of Nigeria CBN Statistical Bulletin (2000 2011). Simple descriptive statistics was used and it was found out that though there were increases but they fall short of the international benchmarks. The paper recommends that internally generat...
Oman Chapter of Arabian Journal of Business and Management Review, 2013
The adoption of International Financial Reporting Standards (IFRS) in Nigeria like in many countr... more The adoption of International Financial Reporting Standards (IFRS) in Nigeria like in many countries has obstacles and challenges. The study used content analysis method to highlight challenges that are peculiar to Nigeria. Different statutes that are apparently in conflict with the provisions of the standards are to be amended if Nigeria is fully adopting the International Financial Reporting Standards. Terms like balance sheet, value added statements and five-year financial summary recognized by the Companies and Allied Matters Act Cap C20, Laws of the Federation of Nigeria, 2004 are to be amended. Significant changes in respect of accounting standards are recommended to be incorporated into the syllabi of tertiary institutions offering accounting courses. Regulatory authorities should step up their supervisory functions on preparers of financial statements to ensure strict adherence to the full provisions of the standards.
Archives of Business Research, 2016
Archives of Business Research, 2016
Academic Journal of Interdisciplinary Studies, Mar 1, 2014
The study examines the appropriateness of multiple taxes in developing nations like Nigeria. Desp... more The study examines the appropriateness of multiple taxes in developing nations like Nigeria. Despite clear and unambiguous legislations that contain list of fees and taxes to be collected, all tiers of governments, ministries, departments and agencies are involved in collecting taxes that are not within this list. Various names are coined for these multiple taxes. The study used content analysis method to highlight challenges that are peculiar to Nigeria. Introducing taxes that are not backed by laws to investors because of the apparent profitability of their businesses and the attempt to increase revenue base is like shifting the goal post after the ball has been put into the net. This may lead to disinvestment. The new directive of making it illegal to use tax consultants by all tiers of government and mandating police to arrest those involved in collecting taxes outside the ones listed in The Taxes and Levies (Approved Rates for Collection) Act, 1998 will go a long way to put sanity to business environment. Healthy business environment will lead corporate entities to fulfill their corporate social responsibilities to the societies.
Journal of Educational and Social Research, 2015
The influx of the establishment of private higher educational institutions in Nigeria since the i... more The influx of the establishment of private higher educational institutions in Nigeria since the inception of the present democratic dispensation in 1999 is unprecedented. Their effectiveness compared to public institutions is the focus of this paper. Content analysis method was used in this study and the focus was on private universities. Most of these private institutions were established purely for business motives as costs are beyond many Nigerians. The shortcomings in respect of dearth of qualified personnel and infrastructural facilities are more pronounced in these institutions. The unusual interferences of proprietors were common in academic affairs and academic freedom is nonexistent. The fear of the public in respect of acceptability and performance of the outputs to the challenges of graduate unemployment is being allayed by the outstanding performances of some of these graduates in open competitive labour markets. The regulatory and supervisory organs for universities should properly monitor these institutions in order not to turn them to either glorified secondary schools or intellectual prison yards. These private institutions should concentrate on courses that can address the challenges of the time as the liberalisation of higher education will go a long way to ameliorate the social welfare of the citizens like what is being witnessed in the telecommunication industry.
Budget speeches are normally given names to align with currents trends in the land. The national ... more Budget speeches are normally given names to align with currents trends in the land. The national budget speech of 2013 was named Fiscal Consolidation with Inclusive Growth. For the 2013 fiscal year, an amount of N4.92 trillion was presented as a budget in which Education sector got N426.53 billion which is 8.7% of the budget against international benchmark for developing countries which is 26%. There were growths both in amount and proportionN400.15 billion representing 8.43% in 2012 to N426.53 billion which is 8.7% in 2013. The main issue of concern that forms the focus of this paper is the question: were these amounts budgeted for education enough? Data used are Federal Government Recurrent Expenditure from 2000 to 2011 sourced from Central Bank of Nigeria CBN Statistical Bulletin (2000 2011). Simple descriptive statistics was used and it was found out that though there were increases but they fall short of the international benchmarks. The paper recommends that internally generated revenues (IGR) should be increased from 10 % to 15% to have access to additional funds and education should not be left in the hands of bureaucrats or politicians who are not aware of the implications for the quality of life of the coming generations.
South asian Journal of Social Studies and Economics, Apr 19, 2018
The study examined the influence of credit management practices on financial performance of Niger... more The study examined the influence of credit management practices on financial performance of Nigerian banks with specific reference to First bank Plc. Data was collected using Purposive sampling technique from thirty (30) respondents as a sample size used to collect data from the respondents. Both descriptive and inferential statistics were used to analyze data, such as frequency, percentage, weighted mean score, and multiple regression. The result revealed that credit management practices have a significant positive influence on the financial performance of First bank. The result concluded that client appraisal, credit risk control, and collection policy are major predictors of financial performance of First bank. Subsequently, the study recommended that management of other banks should learn from First bank by enhancing their client appraisal techniques, credit risk control and adopting a more stringent policy to improve their financial performance.
Mediterranean Journal of Social Sciences, 2014
China's import to Nigeria has been going up in the past decade compared to Nigeria's export to th... more China's import to Nigeria has been going up in the past decade compared to Nigeria's export to the country which was significantly very low. This has resulted in an unfavourable balance of trade against Nigeria. Data used for this study is sourced from Central Bank of Nigeria Annual Report 2012 in respect of non oil import by country of origin. Imports from all the industrialized nations are a little more than that of China. China has involved itself in every aspect of Nigerian economy like road construction, railway, power plants and telecommunication engineering. The hitherto country which Nigerian citizens found difficult travelling to had relaxed its entry requirement by granting visa exemption to Nigerian government officials. The future of trade relationship between China and Nigeria was further analysed and it was recommended that China should involve itself in manufacturing in Nigeria rather than exporting its finished goods to the country as this will increase the country's Gross Domestic Product and reduce unemployment among the teeming youths. Dumping should be discouraged in all its ramifications. Unskilled labour especially in construction companies should be given to the locals instead of exporting it into the country.
Journal of Educational and Social Research, 2015
Corruption and its impact on the polity, social environment and business entities is the focus of... more Corruption and its impact on the polity, social environment and business entities is the focus of this paper. Qualitative research approach and retrospective literature analysis were used for the study. Contemporary issues that were germane to the study of corruption and its effects on the nation and business world were thoroughly analysed. It was found out that corruption festered in the country due to poor political structures; lack of openness and transparency in public service; insincerity on the part of government in the prosecution of war against corruption; constitutional loopholes like plea bargain and inordinate ambition of the political class who turned politics to profession. The business world also had its fair share of corruption due to weak internal control; collusion and negligence of the oversight functionaries in not fulfilling the tenets of good corporate governance. It is recommended that the constitutional loopholes of plea bargain should be repealed; the nation ...
The Foreign Direct Investment (FDI) in Nigeria incr eased by 75.5% between 2005, when the bulk of... more The Foreign Direct Investment (FDI) in Nigeria incr eased by 75.5% between 2005, when the bulk of the country’s external debt was cancelled by her ma jor external creditors and 2009. Is such an increase significant? Data sourced from The World B ank on FDI for the five-year pre-debt cancellation period (2001-2005) were compared with those of the 2006-2010 five-year post-debt cancellation period using paired sample t-test stat istics. The paired sample correlation of both periods is negative and not statistically significa nt at 0.05. Their paired mean difference which is statistically significant at 0.05 in conformity with a ‘priori’ expectation negates some earlier works . The heavy inflow of FDI into the country however do es not have any significant effect on manufacturing capacity utilization rate, employment rate, life expectancy and poverty level. One is therefore tempted to regard the improvement the rel ief has brought to the economy as disillusioning. This paper recommends ...
Cooperative thrift and credit societies in paid emp loyment organizations admit only members of s... more Cooperative thrift and credit societies in paid emp loyment organizations admit only members of staff of such organizations. Memberships of such societie s elapsed when members retire or leave the organization. Withdrawing members are paid only the balances in their savings and shares. Investments held by the societies are not taken int o consideration when these members are paid off. Values of shares in limited liability companies are not based on nominal values of shares held at the time of disposal. Market value is a key factor. Thi s paper assessed the fairness or otherwise of such practices in departmental cooperative societies, in The Polytechnic, Ibadan Oyo State, Nigeria as a case study. An empirical investigation was undertak en, using the chi square analysis and it was found that departmental cooperative society members are not satisfied with the present system relating to withdrawal or disengagement from the so cieties. Following our findings, we recommend that investment...
In 1985, poverty incidence in Nigeria had risen to 46. 3% from 27.2% in 1980. This later rose to ... more In 1985, poverty incidence in Nigeria had risen to 46. 3% from 27.2% in 1980. This later rose to almost 70% in 2010. The problems of poverty were found mai nly from misuse of resources the country is endowed with. The rising poverty trend is also traceable to people orientation about governance. More than fou r billion barrels of crude oil were sold between 2004 and 2010 and at an exchange rate of N120/$ and $70 dollars per barrel, the total proceeds would have b een at least N32 trillion. For a transformation age nda to work in all its ramifications, 2% of the populat ion should not be cornering 80% of the nations' resources as it is presently in operation by the to p echelon public servants. Poverty alleviation programmes to the present time were reviewed and sh ortcomings were highlighted. It was found out that governments at all levels are not doing enough to cpoverty as it is being done in developing countries. The paper then recommends that infrastru ctural facilities like...
Budget speeches are normally given names to align with currents trends in the land. The national ... more Budget speeches are normally given names to align with currents trends in the land. The national budget speech of 2013 was named Fiscal Consolidation with Inclusive Growth. For the 2013 fiscal year, an amount of N4.92 trillion was presented as a budget in which Education sector got N426.53 billion which is 8.7% of the budget against international benchmark for developing countries which is 26%. There were growths both in amount and proportionN400.15 billion representing 8.43% in 2012 to N426.53 billion which is 8.7% in 2013. The main issue of concern that forms the focus of this paper is the question: were these amounts budgeted for education enough? Data used are Federal Government Recurrent Expenditure from 2000 to 2011 sourced from Central Bank of Nigeria CBN Statistical Bulletin (2000 2011). Simple descriptive statistics was used and it was found out that though there were increases but they fall short of the international benchmarks. The paper recommends that internally generat...
Oman Chapter of Arabian Journal of Business and Management Review, 2013
The adoption of International Financial Reporting Standards (IFRS) in Nigeria like in many countr... more The adoption of International Financial Reporting Standards (IFRS) in Nigeria like in many countries has obstacles and challenges. The study used content analysis method to highlight challenges that are peculiar to Nigeria. Different statutes that are apparently in conflict with the provisions of the standards are to be amended if Nigeria is fully adopting the International Financial Reporting Standards. Terms like balance sheet, value added statements and five-year financial summary recognized by the Companies and Allied Matters Act Cap C20, Laws of the Federation of Nigeria, 2004 are to be amended. Significant changes in respect of accounting standards are recommended to be incorporated into the syllabi of tertiary institutions offering accounting courses. Regulatory authorities should step up their supervisory functions on preparers of financial statements to ensure strict adherence to the full provisions of the standards.
Archives of Business Research, 2016
Archives of Business Research, 2016