Journals site for the Ekiti State University Ado Ekit
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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 (NJBFI): IFRS DISCLOSURE AND FINANCIAL PERFORMANCE OF LISTED NON-FINANCIAL FIRMS IN NIGERIA
No full textIFRS are principles that establish the general rules by which specific items in the financial statement are to be treated. Therefore, the broad objective of the study is to examine IFRS Disclosure and Financial Performance of Listed Non-Financial Firms in Nigeria. However, the specific objective is to assess how the relationship between disclosure of financial information under IFRS and the firm’s performance has been a concern of contemporary research. Prior researchers in developed and developing economies have provided robust evidence of company disclosure practices under IFRS as they influence performance. This study has therefore examined the influence of IFRS disclosure and financial performance of listed non-financial firms in Nigeria. The study was premised on stewardship theory. The population of the study constitutes 173 quoted companies on the floor of the Nigerian Exchange Group (NEG) as at 31 December 2022. Sixty-four (64) listed non-financial companies were used in the final analysis. In order to arrive at the testable conclusion, purposive sampling technique was adopted. The study utilized a mix of descriptive, unit root and OLS regression analytical techniques. Findings revealed that there is substantial relationship between total disclosure and firms\u27 financial success in the context of listed non-financial enterprises in Nigeria. Also, higher profitability was found to be associated with extensive accounting disclosure. The conclusion of this study is that there is a relationship between company disclosure levels and financial performance. According to this finding, businesses should be concerned with disclosing pertinent information as cheaply as feasible in order to mitigate the potential impact that comprehensive required and voluntary disclosure may have on financial performance
Nigerian Journal of Banking and Financial Issues (NJBFI): IMPACT OF TOTAL SAVINGS ON AGRICULTURAL PRODUCTIVITY AMONG COMMERCIAL FARMERS IN EKITI STATE, NIGERIA
No full textThis research investigated the impact of total savings on agricultural productivity among commercial farmers in Ekiti State, Nigeria, utilizing a descriptive survey design. The specific population comprises 1,200 registered commercial farmers in Ekiti State, as recorded by the Ministry of Agriculture. A stratified random sampling technique was employed to select a representative sample of 300 farmers from different local government areas, considering the proportional distribution of farmers in each stratum. The study assessed the level of total savings among commercial farmers, identify patterns of investment in agricultural inputs, asset accumulation and emergency fund size Data for the study were gathered using a self-created survey called the “Impact of Total Savings on Agricultural Productivity Questionnaire” (ITSAPQ). Three null hypotheses were generated and tested at the significance level of 0.05. Data were analyzed using inferential statistics such as correlation and simple regression analysis. The study\u27s findings revealed investment in agricultural inputs and asset accumulation significantly influenced agricultural productivity. Also, the study revealed a positive correlation between emergency fund size and agricultural productivity among commercial farmers. Based on the findings, the study recommended that government should develop and implement supportive policies and initiatives that incentivize farmers to save and invest in sustainable agricultural practices. Also, Government should implement comprehensive financial literacy programmes targeted at commercial farmers to maximize the impact of their savings on agricultural productivity
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: EFFECT OF MONETARY POLICY ON DEPOSIT LIABILITIES OF COMMERCIAL BANKS IN NIGERIA
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 tested disciplines. It is biannual journal published by the Department of Finance, Ekiti State University, Ado Ekiti, Nigeria.
The Journal contains analysis of banking and finance issues relevant to the Nigeria economic experience and financial policies. Opinions expressed herein are these of the authors and her 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 9 No. 1, March 2023
ISSN: 1119 - 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
EDITORS
PROF. S. O. ADEUSI PROF. A. O. ADARAMOLA DR. L. B. AJAYI
M. O. OKE
L. A. SULAIMAN DR. J. O. MOKUOLU DR. DAPO FAPETU DR. J. A. AJAYI
BUSINESS MANAGERS
S. O. DADA
DR.MRS. O. G. OBISESAN DR. MRS. A. O. ADEJAYAN DR. 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 tested disciplines. It is 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.
i 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, reference, table and chart
The cover page of each manuscript should contain title of papers, names(s) and additional of author(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
All manuscript and other correspondences should be sent to:
The Managing Editor:
Journal of Banking and Financial Issues C/o Department of Finance
Ekiti State University, Ado -Ekiti, Nigeria.
OR
The Business Editor: Department of Finance,
E-mail: [email protected]
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): FOREIGN RESERVES AND MANUFACTURING SECTOR PERFORMANCE IN NIGERIA (1991-2021)
No full textThis study examined the effect of foreign reserve on manufacturing sector performance in Nigeria covering 1991 to 2021. Foreign reserve was proxied with foreign reserve, trade openness, foreign direct investment and exchange rate while manufacturing sector performance, the dependent variable was proxied with manufacturing sector’s contribution to real gross domestic product (RGDP) in Nigeria. Data were sourced from Central Bank of Nigeria (CBN) Statistical Bulletin. The study employed Augmented Dickey-Fuller unit root test for pre-test. The data was analyzed using error correction mechanism (ECM) and Johansen Co-Integration. To determine the residual\u27s normality, the study used post estimation tests such as the Breausch Godfrey serial correlation, the Breausch Pagan Godfrey test, and histogram. The study revealed that all the explanatory variables except exchange rate have a positive relationship with manufacturing sector performance. Specifically, external reserves has an insignificant positive effect on manufacturing sector’s performance with p-value of 0.070 > 0.05 and adjusted R2 of 60%. Consequently, the study concluded that foreign reserve has a positive effect but in significant effect on Nigerian manufacturing sector’s performance. Thus, the study recommended that managers of external reserves should design more positive and progressive measures to continue to stimulate growth of important sectors like manufacturing
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): 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