Malete Journal of Accounting and Finance
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LIQUIDITY MANAGEMENT AND FINANCIAL PERFORMANCE OF DEPOSIT MONEY BANK PERFORMANCE IN NIGERIA
Full text linkThis study investigates the impact of liquidity management on performance of deposit money bank in Nigeria. The study made use of ex-post facto research design. Secondary data were sourced on dependent as well as independent variables employed by the investigation were sourced from the reported annual accounts of fourteen (14) chosen DMBs for a period of 15 years, (2009-2023) which was downloaded from the Nigerian Group Exchange (NGX). Dependent variable was financial performance measured using Return on Assets while input variable was liquidity management measured using debt to equity ratio: loan to deposit ratio and liquidity coverage ratio. Firm size was employed as control variable. sourced was analyzed in three stages preliminary, model estimation and post estimation test using panel data regression on -View version 12. The outcome of the evaluation established that equity to debt ratio significantly and negatively impacted ROA, loan to deposit ratio negatively and insignificantly impacted ROA while liquidity coverage ratio negatively and weakly impacted ROA as revealed by the testing of hypothesis at five percent level of significance. The study concluded that the interaction between liquidity management and financial performance of selected financial institutions in Nigeria is complicated. Considering this fact, it was suggested that deposit money banks should adopt liquidity management policy that will make them to achieve efficiency and effectiveness with attention on: liquidity, debt to equity, loan to deposit as well coverage ratio
DIGITAL FINANCIAL INNOVATION, POLICY FRAMEWORKS, AND SUSTAINABLE ENERGY TRANSITIONS: A CROSS-COUNTRY STUDY ON THE DETERMINANTS OF GREEN INVESTMENT IN EMERGING MARKETS
Full text linkThe intersection of financial technology (fintech) and renewable energy investment has garnered significant academic and policy interest. This study investigates the relationship between digital financial inclusion (DFI), institutional quality, and renewable energy investment in developing countries. Using an unbalanced panel dataset comprising household-level and small-scale enterprise observations from 22 developing economies over the period 2010–2023, the analysis employs probit, logit, and linear probability model. To address potential endogeneity concerns associated with DFI, the study further implements an instrumental variable (IV) probit approach, using mobile network coverage growth as an instrument. The results reveal evidence on the role of DFI and institutional quality in shaping renewable energy investment. While logit and linear probability models indicate that DFI exerts a statistically significant positive influence on renewable energy investment, particularly when complemented by stronger institutional quality, probit and clustered GLM estimates suggest weaker or insignificant effects, underscoring the sensitivity of results to estimation strategy. The interaction between DFI and institutional quality is positive and significant in some specifications but attenuated or negative in others, suggesting diminishing marginal complementarities at higher levels of institutional development. In contrast, socio-economic and structural factors, such as income, education, urbanization, electricity prices, and physical infrastructure, emerge as consistently important determinants of renewable energy investment across most models. The findings highlight that digital financial inclusion and institutional quality are important but not sufficient conditions for accelerating renewable energy investment in developing countries. These results imply that policy efforts to leverage fintech for sustainable energy transitions should be embedded within integrated strategies that combine digital finance expansion, institutional strengthening, and investments in human capital and infrastructure, thereby enhancing the enabling environment for inclusive and sustainable renewable energy adoption
DIGITALIZATION OF TAX SYSTEMS AND TAX REFORMS IN NIGERIA: A CONCEPTUAL DISCOURSE
Full text linkThe sweeping revolution in the digital space has significantly altered the traditional tax system. Digitalization plays a critical role in tax reform by providing tools needed to administer tax policies effectively. Against this backdrop, this paper examines digitalization of tax systems and tax reforms in Nigeria, utilizing a conceptual and literature-based approach. Based on the review, the study opined that sound legal framework as well as institutional, regulatory and capacity building structures be put in place to strengthen the digitalization of tax systems in Nigeria. The study concludes that with the changing and growing space of technology and innovation, no country, including Nigeria should be left standing with respect to fundamental reforms in the tax collection process in a fast-changing global architecture. The study recommends that pushing for the enactment of enabling legal framework to guide the digitalization of tax administration is important because the enactment of such legislation will aid the effective implementation and collection of taxes from digital transactions among others
EFFECTIVENESS OF MICROFINANCE BANK INITIATIVES IN PROMOTING SUSTAINABLE LIVELIHOOD PRACTICES AMONG FARMERS IN KWARA STATE, NIGERIA
Full text linkThe low-income poor rural entrepreneurs, farmers inclusive, are often excluded from conventional bank benefits in terms of access to financial initiatives. The introduction of microfinance banks across Nigeria by the Government was to enhance financial inclusion to cater to these vulnerable groups. This study, thus, aimed to assess the effectiveness of microfinance bank (MFB) initiatives in promoting sustainable livelihood practices among rural communities in Kwara State, Nigeria. A cross-sectional research design method was used to select 143 farmers following a multistage sampling procedure. Primary data were collected with structured interview schedule and analyzed using descriptive statistics and regression analysis. Results revealed that 61.0% of the farmers were males, educated (61.0%), with mean age of 34 years. The results also revealed that MFBs played a significant role in providing capacity-building and support services (Mean Score=4.23) which ranked highest in their effectiveness, while increase access to credit and small business was ranked least (MS=3.27). The findings further reveal that limited outreach and accessibility and insufficient long-term funding and investment were the most ranked challenges by the farmers in the study area. The regression analysis further highlighted that education (β = 0.273, p = 0.002) and marital status (β = -0.285, p = 0.003) significantly influenced the impact of rural finance, emphasizing the role of socioeconomic factors in shaping financial outcomes. The study concluded that improving outreach, tailoring financial products, enhancing financial literacy, and addressing infrastructure gaps could ameliorate the constraints facing rural finance programs in supporting sustainable livelihoods. The study therefore recommends the expansion of MFB services to expand outreach and enhancing financial literacy programs to maximize the benefits of these initiatives
CONCEPTUALIZATION OF eNAIRA’S PROSPECTS ON NIGERIA’S MACROECONOMIC CHALLENGES
Full text linkNigeria’s macroeconomic environment is marked by persistent inflation, exchange rate volatility, and high poverty levels, prompting the need for innovative monetary tools. This study explores the potential of the Central Bank of Nigeria’s digital currency, the eNaira, to address these challenges. Adopting a conceptual analysis grounded in monetary and economic theory, the paper explores the design, implementation, and future macroeconomic implications of the eNaira within Nigeria’s unique fiscal and monetary system. Findings suggest that eNaira may not solely contribute to resolving existing structural issues such as inflation or poverty, but it holds promise in enhancing financial inclusion, improving cross-border payments, and strengthening monetary policy transmission if properly integrated within the system. The study concludes that eNaira’s effectiveness depends on robust regulatory frameworks, strategic public adoption, and technological interoperability. It recommends a phased implementation approach, improved stakeholder engagement, and continuous evaluation mechanisms to maximize the eNaira’s macroeconomic impact
ENVIRONMENTAL ACCOUNTING AND CORPORATE SOCIAL RESPONSIBILITY AS CATALYSTS FOR SUSTAINABLE NATIONAL DEVELOPMENT IN NIGERIA: AN EMPIRICAL ANALYSIS
Full text linkEnvironmental accounting and CSR are increasingly adopted in Nigeria but remain underexplored and largely ineffective due to weak regulation, poor coordination, and limited empirical assessment of their impact on sustainable development. This study examines the roles of environmental accounting and CSR expenditure in promoting sustainable development in Nigeria, using GDP growth, education index, and health expenditure as key indicators. Adopting quantitative research design, the study utilizes secondary data from the Central Bank of Nigeria, National Bureau of Statistics, and World Bank covering the period 2000 to 2022. The study employed descriptive and inferential statistics. Specifically, correlation analysis, multiple linear regression, vector autoregression (VAR), Granger causality tests, and impulse response functions were employed to explore both static and dynamic relationships among the variables. Findings reveal that environmental factors significantly affect educational investment (e.g., CO₂ emissions: β = -205.7, p < .001), while CSR variables did not directly predict development outcomes. VAR analysis highlighted the positive lagged effects of CSR expenditure and renewable energy on GDP growth, further supported by Granger causality tests (χ² = 13.51 and 22.71, p < .001). Impulse response analysis showed renewable energy induces a strong yet volatile growth impact, while CSR drives more stable, long-term gains. The study concludes that CSR and environmental sustainability drive Nigeria’s long-term economic growth despite limited short-term impact. In line with the findings, the study recommends that coordinated policies, investments in renewable energy, improved CSR integration, and data-driven planning to promote sustainable development in Nigeria
DESIGNING ISLAMIC FINANCIAL PRODUCTS FOR MUSLIM FEMALE DOMESTIC WORKERS IN NORTHERN NIGERIA: A HUMAN-CENTERED APPROACH
Full text linkFinancial exclusion remains a significant challenge for Muslim female domestic workers in Northern Nigeria, driven by socio-economic, cultural, and religious barriers. This study adopts a human-centered design (HCD) approach to propose Shari’ah-compliant financial products integrated with digital financial services (DFS) that align with women lived realities. Using a qualitative and conceptual methodology, the study synthesizes evidence from literature, policy documents, and empirical findings to explore user needs, access barriers, and financial behavior among this underserved group. Guided by an HCD framework, empathize, define, ideate, prototype, and test, the paper outlines product models anchored on Islamic finance principles such as Mudarabah, Musharakah, and Qard al-Hasan. Findings reveal that financial inclusion and empowerment are enhanced when products leverage female agent networks, USSD and voice-based platforms, and Islamic social finance instruments like Zakat and Waqf to deliver interest-free, trust-based financial solutions. The study concludes that the integration of Islamic finance ethics, human-centered innovation, and digital technology presents a viable pathway for advancing equitable, sustainable, and faith-aligned financial inclusion among marginalized Muslim women in Northern Nigeria
DETERMINANTS OF ILLICIT FINANCIAL OUTFLOWS IN NIGERIA
Full text linkThe persistence of illicit financial flows (IFFs) in Nigeria poses a significant challenge to fiscal stability, governance integrity, and long-term economic growth. Despite reforms, the scale of IFFs remains alarming, with Global Financial Integrity estimating losses of over $134 billion between 2003 and 2022. This study examined the macroeconomic and institutional determinants of IFFs in Nigeria, focusing on corruption, political risk, exchange rate, and external debt, while controlling for inflation and interest rates. Adopting a descriptive and correlational research design, the study utilised annual secondary data sourced from the Central Bank of Nigeria (CBN), Global Financial Integrity (GFI), Transparency International (TI), and the Polity IV Index, covering the period 1986 to 2023. The correlational design looks at the connections between key variables, including political risk, corruption, exchange rates, and external debt, whereas the descriptive design examines trends and patterns in IFFs. The analysis employed the Autoregressive Distributed Lag (ARDL) regression technique to capture both short- and long-run dynamics. The results show that corruption reduces IFFs in the short run (β = –1689.19, p < 0.01) but sustains them in the long run (β = –2298.09, p < 0.01), while political risk significantly increases IFFs (β = 66048.75, p < 0.01). Exchange rate depreciation exerts a negative short-run effect (β = –17400.38, p < 0.01), and external debt produces a substantial long-run adverse effect (β = –10762.76, p < 0.01). The study concludes that institutional weaknesses and macroeconomic instability jointly drive IFFs in Nigeria. Consequently, the study recommends stronger anti-corruption frameworks by completing the National Anti-Corruption Strategy (NACS) and improving interagency collaboration between the EFCC, ICPC, and NFIU, exchange rate stabilization, and debt management reforms, which should include transparent loan contracting, stringent parliamentary control over borrowing from outside sources, and improved political accountability as policy measures to curb IFFs and strengthen fiscal sustainability
DETERMINANTS OF BANKS’ LIQUIDITY MANAGEMENT IN SUB-SAHARAN AFRICA
Full text linkLiquidity management remains one of the most critical aspects of banking operations, as it directly influences financial stability, credit intermediation, and the resilience of the financial system. This study examines the determinants of liquidity management among commercial banks in Sub-Saharan Africa. Adopting a quantitative explanatory research design, the study utilizes balanced panel data from deposit money banks purposively selected based on continuous operation over the period 2010–2022. The analysis employed panel least squares regression and the results reveal that government securities exert a positive and statistically significant effect on reserve requirements (0.000; p < 0.05), underscoring their dual role as both yield-bearing assets and liquidity buffers. Vault cash holdings (−0.000; p < 0.05) and interbank credit (−0.000; p < 0.05) exhibit negative associations with reserve requirements, highlighting substitution effects and risk–return trade-offs in banks’ liquidity management decisions. Interbank lending shows a positive but weaker association (p < 0.10), reflecting its modest influence on regulatory liquidity buffers. The sensitivity model confirms liquidity persistence, with the lagged reserve requirement ratio remaining positive and significant (β = 0.374; p = 0.012), indicating path-dependent adjustment behavior among banks. Policy implications suggest the need for gradual reserve requirement adjustments, deepening of government securities markets, tighter regulatory oversight of interbank exposures, and enhanced fiscal–monetary coordination to balance financial stability with credit growth. In conclusion, the study recommends a balanced liquidity regulation framework that integrates market-based instruments with prudential supervision, ensuring resilience of the banking sector. These findings contribute to the literature on liquidity management by providing context-specific, statistically grounded insights into the Nigerian banking sector, with broader relevance for other emerging economies
EMPOWERING WOMEN AND POWERING THE FUTURE: A DYNAMIC PANEL DATA EVIDENCE ON HOW GENDER EQUALITY DRIVES GLOBAL ENERGY
Full text linkThe urgent global challenge of climate change and environmental degradation has propelled the transition towards sustainable energy systems to the forefront of international development agendas. This study investigates the influence of women’s empowerment on the pace and effectiveness of energy transition across countries, employing dynamic panel data techniques to capture both short- and long-term effects while addressing endogeneity concerns. Using an explanatory research design and a balanced panel of developing countries observed over a multi-year period, the study relies on secondary data sourced from the World Development Indicators (World Bank), the United Nations Development Programme (UNDP), and the Worldwide Governance Indicators, selected based on data availability and consistency over time. Using multidimensional indicators of female labor force participation, secondary education enrollment, political representation, and gender inequality, alongside critical control variables such as GDP per capita, urbanization, government energy expenditure, and institutional quality, the analysis reveals that enhanced gender equality significantly accelerates sustainable energy adoption. Specifically, the results indicate that improvements in female labor force participation and female secondary education enrollment exert strong and statistically significant positive effects on renewable energy adoption, while reductions in gender inequality are associated with lower carbon intensity, even after controlling for macroeconomic and institutional factors. The results further suggest that the effects of women’s empowerment are partly transmitted through improvements in institutional quality and human capital, consistent with the study’s theoretical framework. The study concludes that strengthening women’s economic, educational, and political empowerment can serve as an effective catalyst for accelerating energy transition in developing countries and recommends the systematic integration of gender-responsive interventions into national energy and climate policies to enhance the effectiveness and sustainability of the transition toward low-carbon energy systems