Malete Journal of Accounting and Finance
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DOES EDUCATION EXPENDITURE STIMULATE ENERGY CONSUMPTION IN NIGERIA?
Full text linkExpenditure on education significantly impacts energy consumption by enhancing economic growth and fostering energy management within the populace. Augmented investment in education fosters the advancement of energy consumption, which is vital for promoting sustained economic growth. Based on this, this study examines the effects of education expenditure on energy consumption in Nigeria. The data for the study were obtained from World Development Indicator (WDI, 2022) which covered from 1990-2022. The ARDL methods were employed to analyze the data. The findings show the continuity of energy consumption across time, with the second lag of energy consumption exhibiting a positive and statistically significant coefficient. This signifies that historical energy consumption positively influences present consumption, demonstrating a momentum effect. Conversely, (EC(−1)) ignites curiosity and encourages more investigation. The affirmative connection indicates that investments in higher education may result in elevated energy consumption, driven by economic activities and augmented energy demand from a more educated urban population. The study recommends that authorities should adopt a long-term perspective, prioritizing educational efforts that foster technical innovation and energy efficiency. Future enquiries should examine the impact of education on energy consumption, encompassing curriculum development and public awareness campaigns, to promote the transition to a sustainable energy future in Nigeria
FINANCIAL DEVELOPMENT AND FOREIGN PORTFOLIO INVESTMENT IN NIGERIA
Full text linkThis study investigates the impact of financial development on foreign portfolio investment (FPI) in Nigeria using annual data from 1990 to 2024 sourced from the World Development Indicators. The analysis applies the Cross-sectional Autoregressive Distributed Lag (CS-ARDL) approach to capture both short-run and long-run dynamics. Financial development is represented by a composite index constructed through principal component analysis of stock market capitalization, market liquidity, and private sector credit, while control variables include GDP growth, exchange-rate volatility, inflation, and interest-rate differentials. Empirical results reveal that stock market capitalization, liquidity, and private sector credit exhibit positive but statistically insignificant long-run relationships with FPI. Conversely, short-run factors, particularly recent credit expansion and favourable interest-rate differentials, exert significant influence, suggesting that temporary improvements in domestic credit and interest-rate policies attract foreign portfolio inflows. The findings indicate that financial development has only a modest effect on FPI, highlighting the importance of macroeconomic stability and institutional quality. Policy recommendations include strengthening exchange-rate management to reduce currency risk, adopting credible inflation-targeting frameworks to curb volatility, and enhancing credit market efficiency. These measures create a stable investment environment that indirectly supports financial development and fosters sustained FPI inflows
EFFECTS OF CLAIM SPECIFICITY AND SOURCE CREDIBILITY ON CONSUMER TRUST AND PURCHASE INTENTION IN GREEN MARKETING
Full text linkThe effectiveness of green marketing messages may be conceptualised through several theoretical lenses that explore how consumers process environmental claims and the factors that influence trust and purchase decisions. This study investigates the effects of claim specificity and source credibility on consumer trust and purchase intention in green marketing, while examining the moderating role of perceived greenwashing. A sample of 260 environmentally conscious consumers was recruited using stratified random sampling to ensure demographic representativeness across age, gender, education, and geographic location. The study employs a experimental design and collects primary data through structured surveys featuring mock eco-friendly product advertisements. Specifically, claim specificity (0.703, p < 0.001) and source credibility (0.657, p < 0.001) individually increase purchase intention, while their interaction exerts nuanced effects on consumers’ decisions. Perceived greenwashing significantly undermines these effects by increasing consumer skepticism (-0.468, p < 0.001). The findings underscore the necessity for firms to adopt transparent, verifiable environmental claims supported by credible sources to build consumer confidence. Policy implications include stricter enforcement of green marketing regulations, promotion of third-party certification, and targeted educational initiatives to improve environmental literacy. Recommendations emphasize tailored communication strategies and verification mechanisms to mitigate skepticism and encourage sustainable consumption behaviors. In conclusion, combining high claim specificity with credible sources is essential for enhancing trust and purchase intention, while addressing demographic differences and perceived greenwashing enhances the effectiveness of green marketing interventions
BANK-SPECIFIC FACTORS AND LENDING BEHAVIOUR IN SUB-SAHARAN AFRICA
Full text linkThe intermediary function carried out by commercial banks in moving financial resources from surplus units to deficit units continues to be most critical to economic activities across the globe including sub-Saharan Africa. However, literature revealed that challenges involving inadequate capital, poor asset quality and smaller bank sizes constrain the lending capacity of commercial banks in sub-Saharan Africa, leading to inefficient intermediation, weak lending capacity and financial underdevelopment. Therefore, this study aimed at examining the effect of bank-specific factors on lending behaviour in Sub-Saharan Africa. This study employed ex post facto research design. Population of the study consists of fifty-four (54) African nations within the sub-Sahara African region, while 14 sub-Sahara African countries were purposively drawn as the sample size of the study. Secondary data were sourced from World Development Indicators (WDI) and African Financials covering the period of 1990 to 2022. The study employed pooled ordinary least squares (POLS) regression method for the analysis. The results were that: capital adequacy ratio (β = 0.289; p-value = 0.000); asset quality (β = 0.306; p-value = 0.003); and bank size (β = 3.928; p-value = 0.000) have significant positive effect on lending behaviour in the SSA region. The study concluded that bank-specific factors affect lending behaviour in sub-Saharan Africa. The study therefore recommended that management of commercial banks in the SSA region should pursue growth strategies like mergers and acquisitions to achieve economies of scale and improve lending capacity; and policymakers should implement flexible guidelines for capital adequacy tailored to the unique economic conditions of sub-Saharan Africa, so as to ensure financial stability without over-restricting banks\u27 lending capacities
SAVINGS BEHAVIOUR AND WEALTH ACCUMULATION: A COMPARATIVE STUDY BETWEEN NIGERIA AND SOUTH AFRICA
Full text linkWealth accumulation remains a pressing economic challenge in Nigeria and South Africa, influenced by factors such as savings behavior, employment status, banking accessibility, and interest rates. This study employs a comparative quantitative approach using secondary macroeconomic data from national financial reports, economic surveys, and institutional databases to analyze these variables\u27 impact on wealth accumulation. Multiple regression analysis shows that savings behavior positively influences wealth accumulation with coefficients of β = 0.304 in Nigeria and β = 1.516 (p = 0.042) in South Africa. Employment status also significantly affects wealth accumulation, particularly in South Africa (2.859) compared to Nigeria (2.711). Banking accessibility has a marginally significant positive effect in Nigeria (1.978) but is insignificant in South Africa (-0.735). Interest rates show no significant impact in either country. The findings highlight the importance of financial literacy, employment growth, and banking infrastructure in enhancing wealth accumulation. Consequently, the study recommends implementing nationwide financial literacy programs aimed at reaching one million individuals annually via digital platforms and institutional training to strengthen savings behavior and foster sustainable wealth-building strategies
ASSESSING BITCOIN PRICE PREDICTION WITH MACHINE LEARN PROTOCOLS
Full text linkCryptocurrency is an alternative payment method developed with encryption techniques. To predict Bitcoin values using both weekly and monthly datasets, this study compares four machine learning models: GRU, Weighted LSTM, LSTM, and LSTM with Attention. The models\u27 accuracy and dependability in capturing the dynamics of cryptocurrency prices were assessed using Mean Squared Error (MSE), Mean Absolute Error (MAE), Root Mean Squared Error (RMSE), and R-Squared (RSCORE). While LSTM with Attention did well with an RSCORE of 0.7173, LSTM with Attention had the highest RSCORE of 0.9173 in the weekly dataset, indicating higher ability in modelling short-term sequential patterns. Additionally, weighted LSTM performed well (RSCORE of 0.8002), surpassing GRU (RSCORE of 0.5728), which had trouble keeping up with the volatility of Bitcoin prices. Both LSTM and LSTM with Attention performed best in the monthly dataset, each with the lowest MSE (0.0304) and an RSCORE of 0.8173. With an RSCORE of 0.7002, weighted LSTM came next, using temporal weighting to enhance predictions. Because of its limited capacity to grasp intricate temporal connections, GRU continuously fared poorly in both datasets. According to the analysis, LSTM is the most dependable model for both short-term and long-term forecasts, and for weekly forecasts, LSTM with Attention provides improved interpretability. These results provide a framework for applying machine learning approaches to financial time series forecasting, highlighting the significance of choosing suitable models based on data frequency, volatility, and prediction aims
ROLE OF FINANCIAL TECHNOLOGY IN ENHANCING SAVINGS CULTURE AND WEALTH CREATION IN NIGERIA
Full text linkThis study investigates the role of Financial Technology (FinTech) in enhancing savings culture and wealth creation in Nigeria. A quantitative, cross-sectional design was adopted, utilizing secondary data covering a sample of 3,000 Nigerian adults drawn from reputable sources such as the Central Bank of Nigeria (CBN), National Bureau of Statistics (NBS), and the Global Findex Database. Data analysis was performed using Stata, applying descriptive statistics, correlation analysis, and Ordinary Least Squares (OLS) multiple regression. Results reveal that FinTech Adoption has a positive and significant effect on Wealth Creation (β = 33.517), indicating that higher levels of FinTech usage contribute to increased household investment and business ownership. Conversely, Digital Payments exhibit a significant negative relationship with Wealth Creation (-2.407), suggesting that transaction volume alone may not translate to wealth generation. Similarly, Access to Credit negatively affects Wealth Creation (-52.584), implying inefficiencies in the productive use of FinTech-enabled credit. The regression model demonstrates strong explanatory power, with an R² of 0.725, indicating that approximately 72.5% of the variance in wealth creation is explained by the independent variables. These findings underscore the nuanced impact of FinTech on economic empowerment in Nigeria. While FinTech Adoption positively influences wealth accumulation, the roles of digital payments and access to credit appear more complex and potentially constrained by factors such as financial literacy, regulatory frameworks, and credit misuse
FOREIGN DIRECT INVESTMENT INFLOWS AND EMPLOYMENT CREATION IN SUB-SAHARAN AFRICA
Full text linkForeign Direct Investment (FDI) has long been regarded as a catalyst for economic growth in Sub-Saharan Africa (SSA), yet the extent to which it translates into sustainable employment creation remains contested. This paper examines the relationship between FDI inflows and employment generation across SSA from 2014 to 2024, a decade characterized by fluctuating global capital flows, pandemic-induced shocks, and policy reforms. Using trend analysis of open-source datasets from the World Bank, UNCTAD, and the International Labor Organization, the study reveals that while FDI inflows to SSA increased significantly in key resource-rich and service-oriented economies, the employment elasticity of these inflows has remained weak. The findings show that FDI was more effective in creating jobs in manufacturing and telecommunications than in extractive industries, were capital intensity limited employment spillovers. Moreover, regional disparities persisted, with East Africa attracting more employment-intensive investments than Central Africa. The analysis underscores the importance of aligning FDI attraction strategies with domestic job creation goals through targeted sectorial policies, infrastructure improvements, and human capital development. The paper concludes that for SSA to fully harness FDI for employment growth, policymakers must prioritize investment in labor-absorptive sectors, enforce local content policies, and strengthen institutional frameworks that enhance linkages between foreign investors and domestic enterprises.
 
FIRM ATTRIBUTES, ACCOUNTING REGULATIONS AND FINANCIAL REPORTING QUALITY OF LISTED NON-FINANCIAL FIRMS IN NIGERIA
Full text linkConcerns about the credibility of financial statements produced by Nigerian non-financial firms have continued to intensify, largely due to weak internal corporate structures and inconsistencies within the regulatory environment. To address these issues, this study investigates how internal firm characteristics and accounting regulatory practices shape the financial reporting quality based on earnings quality of non-financial companies in Nigeria. An ex-post facto research design was adopted, focusing on thirty (30) manufacturing companies based in Lagos State. Data covering the period 2012–2023 were subjected to descriptive, inferential, and panel regression analyses. Findings indicate that CEO managerial ability is negatively strong and significant effect on financial reporting quality (ꞵ = -0.6520, p = 0.000), CEO Compensation has positive but insignificant effect on financial reporting quality (ꞵ = 0.0009, p = 0.2770), audit committee gender diversity has positive and strong significant effect on financial reporting quality (ꞵ = 0.5809, p = .000), Sustainability Disclosure Practice has positive but insignificant effect on financial reporting quality (ꞵ = 0.0003 p = 0.94) and risk management disclosures has positive but insignificant effect on financial reporting quality (ꞵ = 0.464, p = 0.018). The study concludes that managerial focus should be directed toward strengthening audit committee gender diversity and risk management disclosures while mitigating the adverse effects of CEO managerial ability to improve financial reporting quality outcomes
DIGITAL PAYMENT SYSTEMS AND PROFITABILITY OF DEPOSIT MONEY BANKS IN NIGERIA
Full text linkThe contemporary banking industry in Nigeria is increasingly defined by the adoption and integration of Information and Communication Technology in operational processes, fundamentally transforming traditional banking practices. This study investigates the impact of Information Technology (IT) adoption on the performance of deposit money banks in Nigeria, focusing on Automated Teller Machines (ATMs), Point of Sale (POS) systems, Mobile Payment (MP) platforms, and NIBSS Instant Payment (NIP) systems. Utilizing secondary data from 13 Nigerian banks spanning 2014 to 2023 and employing panel regression analysis, the study finds that ATM, POS, and Mobile Payment transactions positively and significantly enhance bank performance, measured by Return on Assets (ROA), while NIP transactions exhibit a negative effect. Specifically, ATM transactions (0.008, p = 0.013), POS transactions (0.046, p = 0.004), and mobile payment transactions (0.003, p = 0.026) exert positive and statistically significant effects on ROA at the 5% level, whereas NIP transactions show a negative and significant relationship with bank performance (β = −0.001, p = 0.010). The study concludes that electronic payment channels, particularly ATMs, POS, and mobile payment platforms, play a critical role in enhancing the profitability and operational efficiency of Nigerian deposit money banks, while the negative impact of NIP transactions highlights potential operational and settlement challenges associated with instant payment systems. The study recommends that banks should continue to strengthen investments in ATM, POS, and mobile payment infrastructure, while regulators and bank management should implement robust risk management and monitoring frameworks for NIP transactions to mitigate associated risks and improve their contribution to bank performance