Journals site for the Ekiti State University Ado Ekit
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Nigerian Journal of Banking and Financial Issues (NJBFI)
No full textThis paper analyzed the extent to which foreign exchange demand affects migration, economic growth, and inflation utilizing quarterly data from the Central Bank of Nigeria\u27s Statistical Bulletin. Autoregressive Distributed Lag (ARDL) technique was used to analyze the data. The study showed that migration rate had significant postive relationship with demand for foreign currency (t=0.196342 and p=0.0450<0.05). Negative significant relationship was also observed between economic output product (GDP) and foreign exchange demand (t=-0.274375, p=0.0047<0.05). There was also insignificant positive relationship between the rate of inflation and foreign exchange demand (t=-0.110176, p=0.09126<0.05). The conclusion of testing the autoregressive distributive lag model (ARDL) hypothesis is that migration rate has a positive substantial influence on Nigeria\u27s demand for foreign currency both in the short run and the long run. This result corroborated the Japa syndrome that is currently ravaging the less developed countries, particularly in Nigeria. The study recommended for policies that would mitigate the effect currency depreciation and curb inflation, accelerate economic growth thereby reducing migration rate and ensure that foreign exchange demand channeled towards economic activities
Nigerian Journal of Banking and Financial Issues (NJBFI): EFFECT OF RELATIONSHIP MARKETING ON THE GROWTH OF DEPOSIT MONEY BANKS IN NIGERIA
No full textThis study examined whether the application of customer relationship marketing in the deposit money banks has improved customer’s satisfaction, development and retention in Ekiti state, Nigeria or not. The population of the study was made up of bank marketers and customers in Ekiti state. The population being infinite, the study used Cochran’s equation of infinite population to determine 135 populations for the study. The questionnaire administered was presented analyzed five point likert’s scale and hypotheses formulated for the study were tested with the t-test statistical tool with aid of Statistical Package for Social Sciences (SPSS) version 20.0 software package. The study revealed that the application of customer relationship marketing has improved the customer’s satisfaction in deposit money banks. Also, that customer relationship marketing has improved on customer’s retention in the money deposit banks Based on this, the study recommended that the deposit money banks should ensure high quality service delivery in order to promote customer’s satisfaction and create effective customer relationships
Nigerian Journal of Banking and Financial Issues (NJBFI): EFFECT OF REMUNERATION ON BUSINESS GROWTH IN THE 21ST CENTURY: A CASE STUDY OF MANUFACTURING FIRMS IN NIGERIA
No full textThis study investigated the effect of remuneration on business growth in the 21st Century. The study specifically examined the effect of remuneration (measured in terms of salaries and employee benefits) on asset growth and sales growth of selected quoted manufacturing firms in Nigeria. For empirical analysis, two models were formulated to capture effect of remuneration on the two measures of business growth, asset growth and sales growth. Data used for these were then extracted from annual financial reports of ten selected quoted manufacturing firms in Nigeria, and data were analyzed with correlation and panel regression (pooled OLS, fixed effect estimation and random effect estimation) analysis methods. Result of fixed effect estimation for Model 1 showed that remuneration had significant positive effect on asset growth rate of selected manufacturing firms in Nigeria. Result of random effect estimation for Model 2 also indicated that remuneration has insignificant positive effect on sales growth of selected manufacturing firms in Nigeria. Hence, the study concluded that remuneration has significant effect on business growth in manufacturing firms in Nigeria. However, it was identified that the relativity of remuneration system among firms seems to be the main factor responsible for this outcome. Therefore, this study recommended among others that government as a beneficiary to firm growth should put in place appropriate remuneration system for private sector of the economy in order to minimize the gap in payment
Nigerian Journal of Banking and Financial Issues (NJBFI): LEVERAGING REVENUE GENERATION AND CAPITAL PROJECTS DEVELOPMENT FOR ECONOMIC GROWTH IN ABIA STATE, NIGERIA (1993 - 2023)
No full textThe study examined Revenue Generation and Capital Projects Development in Abia State. Ex-post factor research method design were adopted in the study. Time series were adopted. Secondary sources of data was used in the collection of the data used for the analysis. The study revealed the importance of revenue in the development of a state via investment in capital projects on health and Education in Abia state. Capital development projects were measured into Health Capital development projects and Educational Capital Development Projects. Auto regressive Distributed Lag Model Technique (ARDL) were used to analyze the data collected. The objectives of the study are to evaluate the effect of Revenue Generation (taxes, other revenue and Federal Allocation) on Health Capital Development project projects in Abia State, secondly to examine the influence of Revenue Generation (taxes, other revenue and Federal Allocation) on Educational Capital Development projects in Abia State. The findings revealed that Tax Revenue, and Federal Allocation have positive coefficient and insignificant effects on Health Capital Development projects in Abia State while Tax revenue, (OIGR) and Federal Allocation have positive coefficient and significant influence on Educational capital Development project in Abia State. This study concluded that Abia state investment is still low on Health and Educational sectors. They need fund to finance these projects and increase their level of investments towards Health and Educational projects in the state
Nigerian Journal of Banking and Financial Issues (NJBFI)
No full textThis paper analyzed the extent to which foreign exchange demand affects migration, economic growth, and inflation utilizing quarterly data from the Central Bank of Nigeria\u27s Statistical Bulletin. Autoregressive Distributed Lag (ARDL) technique was used to analyze the data. The study showed that migration rate had significant postive relationship with demand for foreign currency (t=0.196342 and p=0.0450<0.05). Negative significant relationship was also observed between economic output product (GDP) and foreign exchange demand (t=-0.274375, p=0.0047<0.05). There was also insignificant positive relationship between the rate of inflation and foreign exchange demand (t=-0.110176, p=0.09126<0.05). The conclusion of testing the autoregressive distributive lag model (ARDL) hypothesis is that migration rate has a positive substantial influence on Nigeria\u27s demand for foreign currency both in the short run and the long run. This result corroborated the Japa syndrome that is currently ravaging the less developed countries, particularly in Nigeria. The study recommended for policies that would mitigate the effect currency depreciation and curb inflation, accelerate economic growth thereby reducing migration rate and ensure that foreign exchange demand channeled towards economic activities
Nigerian Journal of Banking and Financial Issues (NJBFI): MICROFINANCE BRANCH NETWORK AND ITS IMPLICATION ON FINANCIAL INCLUSION IN NIGERIA
No full textThis study explores the impact of microfinance banks on financial inclusion in Nigeria using data from 2011 to 2023. Microfinance institutions were established to address gaps in the economy left by traditional financial services, aiming to stimulate economic activity, reduce poverty, and foster growth. The research employs a quantitative approach, analyzing secondary data obtained from the World Bank and the Central Bank of Nigeria. Financial inclusion, measured by Financial Deepening (M2), is assessed alongside variables such as microfinance branch networks, microloans, and microsavings. The findings indicate a positive and significant relationship between these variables and financial inclusion. Recommendations include the formulation of comprehensive policies by financial regulators to promote financial intermediation across various sectors, thus enhancing financial inclusion
Nigerian Journal of Banking and Financial Issues (NJBFI): ASSESSING THE EFFECT OF BOND INSURANCE ON THE DEVELOPMENT OF THE NIGERIAN CAPITAL MARKET
No full textThis research investigated the effect of bond insurance premiums on market capitalization in Nigeria using data gathered from the World Development Indicator, Global Financial Development Database, and the Central Bank of Nigeria statistical bulletin, from 2000 to 2023. The data were analyzed using the ARDL co-integration approach, and the results showed that, although only in the long run, bond insurance premiums had a positive effect on market capitalization in Nigeria, as did bond insurance claims. The result shows normality test statistics of 1.641757 (p > 0.05), LM test statistics of 0.2124238 (p > 0.05), heteroscedasticity test statistics of 0.241894 (p > 0.05) indicate that the assumption of normality, homoscedasticity and no serial autocorrelation are satisfied. Also, that bond insurance premiums and claims positively affect market capitalization, with a significant long-term impact of 0.93% and 1.89%, respectively. Finally, there was no causal relationship between bond insurance premiums and market capitalization in Nigeria. According to the study\u27s findings, bond insurance significantly contributes to the expansion of Nigeria\u27s capital market. As a result, financial sector regulators must encourage bond issuers to participate in bond insurance programs in order to increase market capitalization in the nation
Nigerian Journal of Banking and Financial Issues: INTERNALLY GENERATED REVENUE AND ITS IMPACT ON BUDGET IMPLEMENTATION IN SOME SELECTED STATES IN NIGERIA (2013-2022)
No full text© Department of Finance
Ekiti State University, Ado Ekiti, Nigeria.
The Nigerian Journal of Banking and Financial issues (NJBFI) provides a unique forum for the articulation and dissemination of applied research by academics and professionals in the field of Banking and Finance or related disciplines. It is biannual Journal published by the department of Finance, Ekiti State University, Ado Ekiti, Nigeria.
The Journal contains analysis of Banking and Financial Issues relevant to the Nigeria Economic experience and financial policies. Opinions expressed herein are those of the authors are not necessarily those of the Department of Finance.
All right reserved. No part of this publication may be reproduced or transmitted in any form or by any means. electronic, mechanical, photocopying, recording or otherwise of series in any retrieval system of any nature, without the prior written permission of the copyright holder.
Subscription Rate: Nigeria
Students: N2,000
Others: N2,500
Foreign US $25
Volume 10 No. 1, March 2024
ISSN: 119 - 8494
Printed in Nigeria by:
Department of Finance
Ekiti State University,
Ado Ekiti,
Nigeria.
Tel: 08035023117,
080283887163.
EDITOR -IN- CHIEF: PROF. J. A. OLOYEDE
MANAGING EDITOR: DR. (MRS) B. A. AZEEZ
ASSOCIATE EDITOR: DR. F. T. KOLAPO
ADVISORY BOARD
PROF. WOLE ADEWUNMI
PROF. W. I. IYIEGBUNIWE
PROF. S. I. OWUALAH
PROF. (MRS) E. O. ADEGBITE
PROF. FAMOUS IZEDOME
PROF. A. A. AWE
PROF. T. M. OBAMUYI
PROF. S. O. AKINMULEGUN
PROF. F. M. EPETIMEHIN
PROF. S. A. TELLA
PROF. R. O. SOMOYE
EDITOR
PROF. S. O. ADEUSI
PROF. A. O. ADARAMOLA
PROF. DAPO FAPETU
L. B. AJAYI
M. O. OKE
L. A. SULAIMAN
J. O. MOKOLU
J. A. AJAYI
BUSINESS MANAGERS
S. O. DADA
MRS. O. G. OBISEAN
MRS. A. O. ADEJAYAN
I. E. AJAYI
CALL FOR PAPERS
The Nigerian Journal of Banking and Financial Issues (NJBFI) provides a unique forum for the articulation and dissemination of applied research by academics and professionals in the field of Banking and Finance or related disciplines. It is a biannual Journal published by the Department of Finance, Ekiti State University, Ado Ekiti, Nigeria.
Interested contributors are invited to submit well researched papers which have not been provide published either in whole or part in any journal.
Three copies of the manuscript should be submitted, each copy of which must be typed on one
side of A4 sized paper only and double spaced.
Manuscript should not exceed twenty pages, including notes, references, table and chart.
The cover page of each manuscript should contain title of papers, names(s) and additional
authors(s).
An abstract of not more than 120 words typed single spaced on a separate sheet book precede the
main text. The short abstract should summarize the main argument of the article.
Bibliographical references should be indicated in the text using the author data style with page
numbers where necessary. All reference must adopt America psychological Associate (APA)
current style and reference pattern.
Table and charts should be placed as close as possible to relevant discussion. End noted should
be numbered consequently, and should not solely comprise references.
Manuscript which do not conform to these guidelines may be returned unprocessed.
All manuscript and other correspondences should be sent to:
The Managing Editor,
Journal of Banking and Financial Issues,
C/0 Department of Finance,
Ekiti State University,
Ado Ekiti, Nigeria.
OR
The Business Editor:
Department of Financ
Nigerian Journal of Banking and Financial Issues (NJBFI): INTERNALLY GENERATED REVENUE AND ITS IMPACT ON BUDGET IMPLEMENTATION IN SOME SELECTED STATES IN NIGERIA (2013-2022)
No full textThis study investigated internally generated revenue and budget implementation across some selected states in Nigeria. Also, the study adopted ex post facto research design using secondary data covering a period of 10 years (2013 to 2022). Data were collected from four states selected from each of the six geopolitical zones in Nigeria to make up 24 states. Data were sourced from the Board of Internal Revenue of each state and National Bureau of Statistics. This study adopted both descriptive and inferential statistical analysis. Descriptive statistics consisted of mean, standard deviation, maximum and minimum while the inferential statistical analysis covered Pearson correlation analysis and panel regression estimation effects. The study revealed that road tax (ROD) has a positive but not significant effect on capital expenditure of selected states in Nigeria to the tune of 0.0807 (p=0.608>0.05); direct assessment tax (DAT) has a positive significant effect on capital expenditure of selected states in Nigeria to the tune of 0.488 (p=0.005<0.05); Pay-As-You-Earn (PAYE) has a positive but insignificant effect on capital expenditure of selected states in Nigeria to the tune of 0.097 (p=0.131>0.05); Road tax (ROD) has a positive significant effect on recurrent expenditure of selected states in Nigeria to the tune of 0.0411 (p=0.039<0.05); Direct assessment tax (DAT) has a positive but insignificant effect on recurrent expenditure of selected states in Nigeria to the tune of 0.0212 (p=0.854<0.05); Pay-As-You-Earn (PAYE) has a positive but insignificant effect on recurrent expenditure of selected states in Nigeria to the tune of 0.0464 (p=0.343>0.05). From the analysis conducted, it was concluded that there was a statistically significant effect of internally generated revenue on budget implementation in some selected states in Nigeria
Nigerian Journal of Banking and Financial Issues: INTERNALLY GENERATED REVENUE AND ITS IMPACT ON BUDGET IMPLEMENTATION IN SOME SELECTED STATES IN NIGERIA (2013-2022)
No full text© Department of Finance
Ekiti State University, Ado Ekiti, Nigeria.
The Nigerian Journal of Banking and Financial issues (NJBFI) provides a unique forum for the articulation and dissemination of applied research by academics and professionals in the field of Banking and Finance or related disciplines. It is biannual Journal published by the department of Finance, Ekiti State University, Ado Ekiti, Nigeria.
The Journal contains analysis of Banking and Financial Issues relevant to the Nigeria Economic experience and financial policies. Opinions expressed herein are those of the authors are not necessarily those of the Department of Finance.
All right reserved. No part of this publication may be reproduced or transmitted in any form or by any means. electronic, mechanical, photocopying, recording or otherwise of series in any retrieval system of any nature, without the prior written permission of the copyright holder.
Subscription Rate: Nigeria
Students: N2,000
Others: N2,500
Foreign US $25
Volume 10 No. 1, March 2024
ISSN: 119 - 8494
Printed in Nigeria by:
Department of Finance
Ekiti State University,
Ado Ekiti,
Nigeria.
Tel: 08035023117,
080283887163.
EDITOR -IN- CHIEF: PROF. J. A. OLOYEDE
MANAGING EDITOR: DR. (MRS) B. A. AZEEZ
ASSOCIATE EDITOR: DR. F. T. KOLAPO
ADVISORY BOARD
PROF. WOLE ADEWUNMI
PROF. W. I. IYIEGBUNIWE
PROF. S. I. OWUALAH
PROF. (MRS) E. O. ADEGBITE
PROF. FAMOUS IZEDOME
PROF. A. A. AWE
PROF. T. M. OBAMUYI
PROF. S. O. AKINMULEGUN
PROF. F. M. EPETIMEHIN
PROF. S. A. TELLA
PROF. R. O. SOMOYE
EDITOR
PROF. S. O. ADEUSI
PROF. A. O. ADARAMOLA
PROF. DAPO FAPETU
L. B. AJAYI
M. O. OKE
L. A. SULAIMAN
J. O. MOKOLU
J. A. AJAYI
BUSINESS MANAGERS
S. O. DADA
MRS. O. G. OBISEAN
MRS. A. O. ADEJAYAN
I. E. AJAYI
CALL FOR PAPERS
The Nigerian Journal of Banking and Financial Issues (NJBFI) provides a unique forum for the articulation and dissemination of applied research by academics and professionals in the field of Banking and Finance or related disciplines. It is a biannual Journal published by the Department of Finance, Ekiti State University, Ado Ekiti, Nigeria.
Interested contributors are invited to submit well researched papers which have not been provide published either in whole or part in any journal.
Three copies of the manuscript should be submitted, each copy of which must be typed on one
side of A4 sized paper only and double spaced.
Manuscript should not exceed twenty pages, including notes, references, table and chart.
The cover page of each manuscript should contain title of papers, names(s) and additional
authors(s).
An abstract of not more than 120 words typed single spaced on a separate sheet book precede the
main text. The short abstract should summarize the main argument of the article.
Bibliographical references should be indicated in the text using the author data style with page
numbers where necessary. All reference must adopt America psychological Associate (APA)
current style and reference pattern.
Table and charts should be placed as close as possible to relevant discussion. End noted should
be numbered consequently, and should not solely comprise references.
Manuscript which do not conform to these guidelines may be returned unprocessed.
All manuscript and other correspondences should be sent to:
The Managing Editor,
Journal of Banking and Financial Issues,
C/0 Department of Finance,
Ekiti State University,
Ado Ekiti, Nigeria.
OR
The Business Editor:
Department of Financ