Journals site for the Ekiti State University Ado Ekit
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Nigerian Journal of Banking and Financial Issues (NJBFI): Financial Technology Development And Global Financial Markets
No full textThe global financial markets encounter numerous challenges, such as liquidity issues, unsustainable loan practices, a lack of transparency in transactions, tax evasion, and the looming threat of collapse due to interconnectedness and instability in emerging economies. The integration of financial technology (Fintech) has now become indispensable in enhancing the efficiency of these markets, expanding their reach, and facilitating their digital transformation. This research explored the impact of Fintech on the global financial markets. Using a survey-based approach, self-structured questionnaires were distributed to senior managers in the financial services sector through the Google+ platform. The study validated only 356 out of the total 366 retrieved questionnaires. The reliability of the questionnaire was assessed using Cronbach\u27s alpha, yielding coefficients ranging from 0.928 to 0.80. Both descriptive and inferential statistics were employed for analysis. The findings indicated a significant positive effect of financial technology on the global financial markets. The study demonstrates the importance for financial service industry management to strategically deploy financial technology for enhanced market operations
Nigerian Journal of Banking and Financial Issues (NJBFI): ECONOMIC DIVERSIFICATION AND PRICE STABILITY IN NIGERIA
No full textThis study explores the dynamics of price stability in Nigeria between 1991 and 2022, focusing on the critical role of economic diversification. Using an Autoregressive Distributed Lag (ARDL) model, this study analyses the short and long-run dynamics. In the short run, the findings reveal that past price stability positively influences current stability, while investment tends to destabilize prices. Non-oil gross domestic product, in the long run, positively influences price stability, therefore suggesting that economic diversification can contribute to greater stability. However, the study finds that non-oil exports, investment, and the exchange rate negatively impact price stability, implying that while these factors may boost economic activity, they also introduce volatility. The findings underscore the need for Nigerian policymakers to focus on diversifying the economy, managing exchange rate volatility, and crafting targeted investment policies to enhance long-term price stability
JOURNAL OF CURRENT DISCOURSE AND RESEARCH (JCDR): INFLUENCE OF SCHOOL ENVIRONMENT ON STUDENTS’ ACADEMIC PERFORMANCE IN SECONDARY SCHOOLS, KOGI STATE
No full textThe purpose of this study was to examine the influence of school environment on Students academic performance in secondary schools in Idah Local Government Area, Kogi State. To do this, the researcher formulated three research questions, and three research hypotheses. The descriptive survey design was used for the study. The population of the study is made up of the principals and teachers across the twenty-two (22) government secondary schools in Idah Local Government Area of Kogi State, with total staff strength of 22 principals and three hundred and two teachers (302). The study sample of 200 was used and drawn by means of random sampling techniques. The instrument used for the study was questionnaire moderated based on a modified four points Likert type scale. A Cronbach Alpha method was used to establish reliability after a pilot study, which yielded reliability coefficient of 0.76. The data collected were analyzed using mean, percentage and standard deviation to answer the research questions. While T-test statistical technique was used to test hypotheses at 0.05 level of significance. The result revealed that; both the principals and teachers agreed on the ways infrastructural facilities, class size and teachers’ personality influence students’ academic performance in secondary schools in the study area. While the result of the three hypotheses revealed that, there is significant difference, hence, the hypotheses were rejected. Based on these, the following recommendations were made; Adequate classroom buildings to be provided in the public senior secondary schools to help promote effective teaching for students improved academic attainment, Government and communities should ensure that students have access to the schools nearest to their areas of residence
Nigerian Journal of Banking and Financial Issues (NJBFI): Impact Of Service Recovery On Customer Satisfaction Among Money Deposit Banks In Ado-Ekiti Metropolis
No full textThe study examined the impact of service recovery on customer satisfaction among money deposit banks in Ado-Ekiti metropolis. Specifically, the study investigated the effect of distributive justice, procedural justice and interactional justice on customer satisfaction among money deposit banks in Ado-Ekiti metropolis. The study adopted descriptive survey research design. The population of the study comprised the customers of four money deposit banks namely, Access Bank, First Bank, United Bank for Africa and Wema Bank; out of which 161 respondents were sampled using convenience sampling technique. Data were collected through the administration of structured questionnaire. Data gathered were analysed using multiple regression. The results showed that distributive justice had significant influence customer satisfaction (Adj R2 = 0.598,β = 0.931, p = 0.000). Procedural justice had significant influence on customer satisfaction (Adj R2 = 0.842,β = 0.995, p = 0.000). interactional justice had significant influence on customer satisfaction (R2 = 0.658, β = 0.614,p = 0.000). The study concluded that service recovery is significantly and positively related to customer satisfaction among money deposit banks in Ekiti State
Nigerian Journal of Banking and Financial Issues (NJBFI): The Effect Of Loan Default On The Growth Of Cooperative Societies In Nigeria
No full textThis study examined the effect of loan default on the growth of cooperative societies in Nigeria. Specifically, the study focused on establishing the association between loan management procedure, loan diversion and loan size and its association with the growth of cooperative societies in Nigeria. A total number of five (5) cooperatives were purposively selected for this study using the cross-sectional survey method of research design. Cooperative Society Growth is the dependent variable while Loan Management Procedure, Loan Diversion, and Loan Size as independent variables. The results affirmed that loan management procedure exerts positive insignificant effect on growth of cooperative societies in Ekiti State with coefficient estimate of 0. 619080 (p=0.0751>0.05); loan default exerts negative effect on growth of cooperative societies in Ekiti state with coefficient estimate of 0.479062 (p=0.0522=0.05); and loan size has positive insignificant relationship with growth of cooperative societies in Ekiti State given the coefficient estimate of 0.179562 (p=0.0802>0.05) and concluded that Loan default has remained a dominant issue that has discouraged most cooperative societies from granting loan to members while other cooperatives that has continuously disbursed loan to members have not performed soundly as they have remained stagnated per time. Therefore, recommended that Cooperative credit supervisor should evaluate records of credit officer to ascertain that loan policies are consistently observed; this would strongly establish loan procedures of cooperatives and enhance members commitment to loan repayment; Adequate training on financial management and business training should be carried out for members of cooperative towards aiding the profitability of their businesses and consequent payment of loan; Management of cooperative societies should ensure that loan requests are either declined or granted rather than approving an insignificant amount of loan application which encourages members to default; Loan approved should be based on the past record of the members; Creating channels that will make the loanee able to pay the loan at a convenient time before the exceeding period e.g Loan Applications for the members
Nigerian Journal of Banking and Financial Issues (NJBFI): Impact Of Financial Inclusion On Bank\u27s Performance In Nigeria
No full textFinancial inclusion is seen as a solution to solve the problem of poverty and income inequality. In many developing countries like Nigeria, mortgage banks are seen as the traditional channel for bringing the unbanked into the formal financial system. The increasing diversity of customer demands and technological changes are expected to have a significant impact on the management of the bank in order to retain and attract potential customers and investors in the banking sector. However, with the increase in income levels, location and number of banking branches, the management of banks has to identify banking services to improve their banking performance (return on assets). Therefore, this study examines the impact of financial inclusion on the performance of banks in Nigeria. Specifically, the study examines how banking performance is affected by ATMs, branch network, number of bank accounts and location of sales terminals. The study used all DBMs in Nigeria between 2013 and 2018 using data compiled on the basis of least squares. The results of the study show that the effect of ATMs, banking location, towers, performance of bank depository (ATM, BET and POS on ROA of DBMs) in Nigeria is positive and significant by 0.05. It is concluded that FI applications have proven to have a significant impact in improving customer satisfaction and bank profitability. It is recommended that to ensure that DMB services reach and serve the poor, financial institutions should not only upgrade their processes (using technological innovations), but also develop process and reasonable procedures to evaluate potential customers and ensure fairness in the selection process
Nigerian Journal of Banking and Financial Issues (NJBFI): Perceptions on organization culture and employee retention among staff of commercial banks in ado-Ekiti metropolis, Ekiti State, Nigeria
No full textThis study sought to find out the effects of organization culture on employee retention among banks in Ado-Ekiti, Ekiti state, Nigeria. This research adopted qualitative descriptive research design with use of face to face interview with participants. The population of the study consists of all bank employees in Ado-Ekiti metropolis; with target participant of twenty (20) staff from four different banks in Ado-Ekiti Metropolis, however, only six (6) were available for interview. Convenience sampling method was used to select the participants, with the sampling size of the study being four (4) staff of banks. Data was collected using structured interviews question recordings and analysed using thematic analysis. The study found out that organization beliefs, organization norms, organization value had significant effect on employee retention and towards helping employees achieve organizational goals and objectives. The study thus concludes that organization norms promote the retention of employees
Nigerian Journal of Banking and Financial Issues (NJBFI): Green Finance For Africa’s Sustainable Development: Trends And Future Opportunities
No full textThis study is an explorative examination of the recent trends in green finance in Sub-Sahara Africa (SSA) for a period of ten years. We also attempt projections into future trends and opportunities in green finance in Africa. First, we explore the trend of green finance and selected environmental and economic indicators in Africa, the challenges faced by green finance and its future opportunities in the continent. Quantitatively, the paper also investigated whether green finance and the selected indicators have significant causal relationship. We used trend analysis and the Granger causality test to analyze the data for green bonds, carbon emission (CO2), agricultural sector output, per capital income, forest area and child mortality rate from 2012 to 2021 obtained from the World Bank Development Indicators. We found that trend-wise, despite the rise in green finance between 2020 and 2021, carbon emission (CO2) has been on the increase while forest area has also depleted. Child mortality rate has consistently been on the decline over the years. Agriculture sector output also rose since 2019. Apart from 2021, Africa’s per capita income has been on a steady decline since 2014. Of all the selected environmental and economic variables, only agricultural sector output has a significant causal relationship with green finance. We also identified salient challenges that are faced by green finance investment in Africa, the way out, opportunities and potentials available for green investment as well as the future outlook of green finance for sustainable development in Africa. We recommend increased development of innovative financing mechanisms, building of more institutional capacity to support green finance, development of specialized green finance units by institutions and promote development of green infrastructure
Nigerian Journal of Banking and Financial Issues (NJBFI): Effect Of Currency Devaluation On Survival Of Nigerian Economy
No full textThis study looked at the effect of currency devaluation on the survival of the Nigerian economy. A non-experimental methodology was used, and data for the study were gathered from statistical bulletins and CBN reports on the Nigerian economy from 1987 to 2022. The data was analyzed using descriptive statistics and ordinary least squares (OLS) approach. The results revealed a p-value of 0.000 which shows a significant relationship between the Exchange Rate and Gross National Income (GNI), but an insignificant relationship between Exchange Rate and Generated Revenue with a p-value of 0.4844. The study concludes that currency devaluation has an impact on the country\u27s income, which influences the survival rate. The study concluded that when developing economic policies, policymakers should carefully analyze the impact of exchange rate variations on Gross National Income (GNI)
Nigerian Journal of Banking and Financial Issues (NJBFI): The Role Of Financial Development In Nigeria’s Economics Growth
No full textThis study examined the role of financial development in Nigeria’s economic growth over 36 years (1985–2020). The study\u27s data came from the CBN statistical bulletin. Money supply and credit to private sector employers were highlighted as independent variables, whereas Gross Domestic Product served as the dependent variable. Using the E-view package\u27s linear regression data analysis technique, the outcome shows a p value of .000 link between the money supply, loan to the private sector and GDP respectively. The study concluded that financial deepening significantly affects Nigeria\u27s ability to survive