Journals site for the Ekiti State University Ado Ekit
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Nigerian Journal of Banking and Financial Issues (NJBFI): Attitude Of Micro-Entrepreneurs Towards Adoptability Of Simulation For Optimal Inventory Management Decisions In Nigeria: Empirical Evidence From Lagos State
No full textThis paper examined the attitude of different categories of micro-entrepreneurs towards adoptability of simulation process for optimal inventory management decisions in Nigeria with empirical evidence from Lagos State. This was undertaken to determine the willingness, readiness, and ability of selected micro-entrepreneurs in Lagos to adopt the simulation process as an alternative optimization tool towards attaining optimality in inventory management. In accomplishing the objective of the study, the quantitative descriptive survey research design was adopted and data were collected using structured questionnaire which was administered to randomly selected micro-entrepreneurs in Lagos State. The responses from the questionnaire administered were analyzed using both deductive and inductive statistical tools which included custom frequency table, Pearson Chi-square test, Fisher’s exact test and Kruskal-Wallis test with the aid of SPSS. The result of the investigation shows that 84.79% of the respondents were willing and ready to adopt simulation process for optimal inventory management decisions if they are given necessary training on how it works; and that, there is no statistically significant difference in the attitude of different categories of micro-entrepreneurs with respect to the subject of investigation in the study area. As such, a synergetic partnership among all stakeholders responsible for promoting, supporting and driving the operations of micro-entrepreneurs in Nigeria is recommended towards training programmes for possible adoption of the alternative inventory management optimization approach within the micro-enterprise ecosystem
Nigerian Journal of Banking and Financial Issues (NJBFI): Effect Of Insecurity On Business Development In The Transportation Sector In Ibadan, Oyo State
No full textThis study explores the effect of insecurity on business development in the transportation sector in Ibadan, Oyo State. The objectives of this study were to identify the main types of insecurity that affect the transportation sector in Oyo state, find out the key challenges faced by transportation companies in managing insecurity in Oyo State; and examine how the identified challenges affect the ability of the transport sector to grow and develop in Oyo state. A descriptive survey research design was adopted for this study and the target population for this study include drivers and managers in five transport companies in Ibadan. A sample size of Twenty-five (25) respondents were selected using simple random sampling technique. Questionnaire was used as the research instrument to gather data as regarding the subject matter. The data collected where analysed using descriptive statistics of simple frequency count, percentage for the demographic information and the research questions. The study revealed that 25(100%) of the respondent all affirm that the various insecurity activities faced by transport company which hinders their development include robbery, vandalism, informal transportation and unregulated operators, kidnapping and abduction and attacks on transportation vehicles on road; lack of adequate security measures and infrastructure has hindered the growth of the sector.
This study highlights the urgent need for enhanced security measures, collaboration with law enforcement agencies, public awareness campaigns, training and capacity building
Nigerian Journal of Banking and Financial Issues (NJBFI): Fish Farmers’ Participatory Factors Influencing The Demand For Aquaculture Insurance: Evidence From Lagos, Nigeria
No full textBoosting aquaculture insurance, as a financial instrument, can assist the sustenance of aquatic food demand to cushion fish farmers’ income, and ensure adequate farm property safety in Nigeria. This study examined the participatory factors affecting aquaculture insurance and its related demand determinants, with empirical evidence drawn from fish farmers in Lagos State. The study employed a survey approach cum multiphase sampling technique. A descriptive statistic and Friedman’s rank test were adopted in the data analysis. This study contributes immensely with the tabular and graphical models that explain the both the demographic and institutional factors affecting uptake of aquaculture insurance and demand determinants for aquaculture insurance in Lagos State, Nigeria. All the demographic factors, from the findings, showed critical effects on the uptake of aquaculture insurance. Thus, findings further showed that all the institutional factors, except for access to cooperative society, affect the uptake of aquaculture insurance in Lagos State. The study recommended that aquaculture underwriters should ensure critical evaluation of all demographic and institutional factors to be sure of effective demand capacities of fish farmers in Nigeria. However, the government should expand the subsidy net for more fish farmers to have access. With the simplicity of insurance contract design, aquaculture underwriters will gain attraction from farmers, which will, in turn, generate improved premium and their potential profitability
Nigerian Journal of Banking and Financial Issues (NJBFI): IMPACT OF REINSURANCE UTILISATION ON THE CLAIMS’ EFFICIENCY OF NON-LIFE INSURANCE COMPANIES IN NIGERIA
No full textThe study investigated how the use of reinsurance affects the efficiency of claims processing among non-insurance companies in Nigeria. Ex-post facto research design was adopted, using secondary data from the financial reports of non-insurance companies. Data were analyzed using regression analysis through E-views. The study revealed that reinsurance utilisation (reinsurance dependence and reinsurance recoveries) has a significant combined impact on gross claims and net claims ratios with P value of 0.0000. The paper concluded that non-life insurance companies in Nigeria are inefficiently utilising reinsurance arrangements. Hence, claims management is compromised, highlighting the need for proper measures to ensure reinsurance fulfills its intended purpose. Therefore, study recommended that insurers adopt a balanced approach to reinsurance and conduct regular reviews of their reinsurance strategies to ensure they effectively mitigate risks
Nigerian Journal of Banking and Financial Issues (NJBFI): The effects of credit risk management on the deposit Money bank’s performance in Nigeria
No full textThe study investigated how credit risk management affected Nigerian deposit money banks\u27 performance over a 15-year period (2005 to 2019). The macroeconomic variables considered include the total bank loan, the loan to asset ratio, the loan to deposit ratio, and profit after tax. The long-term link that exists among the variables under consideration was examined using OLS regression techniques, pairwise granger causality tests, Johansen- Fisher cointegration tests, and Kao Residual Co-integration tests. The analysis revealed that, with the exception of total bank loans (TBL), all independent variables had a negative association with the dependent variable (PAT). This meant that the loan to asset ratio had a negative relationship with PAT of (-0.844290). The results also showed that the loan to deposit ratio (LDR) has a statistically insignificant connection with the dependent variable (PAT), with a slope of (-1.571297). The study came to the conclusion that credit risk has a short-term, considerable negative impact on bank performance. The loan-to-deposit ratio LDR was also found to be statistically insignificant and to maintain an inverse relationship with the dependent variable (PAT) by -1.571297%, according to the findings. The study came to the conclusion that credit risk has a negative and significant short-term impact on bank performance. The study concluded that the dependent and independent variables may have a long-term equilibrium relationship based on the estimated results of various co-integration tests. The study suggested that banks should, among other things, follow prudent and stringent credit policies to reduce the number of non-performing loans. In order to reduce the likelihood of a bank\u27s failure and ensure that banks appropriately manage their credit risk, regulators must increase supervision at the macro level
Nigerian Journal of Banking and Financial Issues (NJBFI): Risk Financing Options And Project Success: Evidence From Building Construction Companies In Lagos State, Nigeria
No full textRisk financing is a critical element of a business future. its indispensable metrics in safeguarding the structural and economic image of construction firms. Therefore, this study assessed the relationship between risk financing options and project success, with specific reference to the perceptions of selected construction firms in Lagos State, Nigeria. The study adopted a cross- sectional survey research design; with combination of both judgmental and convenience sampling techniques. The study population consisted of sixty-nine (69) registered building construction firms in Lagos State. Thus, a structured questionnaire was adopted in the distribution and data collection processes. Eight-seven (87) were used as sample size and in the data analytical procedure. The statistical technique employed was simple regression. This result confirmed the nexus between risk financing options and project success of selected construction firms in Lagos State. While risk retention options proved a positive relationship with project success at a p value of 0.043, risk transfer options confirmed a positive relationship with project success at a p value of 0.017. the study recommended that more risk retentive capacities should be built by building contractors in a bid to handle small proportions of their risks possibly by creating a risk management department. Government should also be dutiful in their regulatory oversight of monitoring the compulsory purchase of builders’ liability insurance and thus, ensure that buildings under construction are covered for under a contractor’s all-risk insurance policy
Nigerian Journal of Banking and Financial Issues (NJBFI): Effect Of Monetary Policy On Deposit Liabilities Of Commercial Banks In Nigeria
No full textThis study examined the effect of monetary policy on the financial performance of deposit money banks in Nigeria over a period of 19 years between 2000 and 2018. Specifically, the study established the effect of interest rate (INT) and cash reserve ratio (CRR) on the financial performance of deposit money banks. Secondary data were sourced from CBN statistical Bulletin. Being a time series data, the Autoregressive Distributed Lag Model (ARDL) regression technique was employed. The findings of the study indicated that interest rate and cash reserve ratio influenced the performance of banks in terms of their deposit liabilities. The study recommends that governments should ensure good and stable monetary policy in Nigeria such that deposit money banks’ performance can be enhanced in Nigeria
Nigerian Journal of Banking and Financial Issues (NJBFI): MUTUAL FUNDS SCHEME AND CAPITAL MARKET PERFORMANCE IN GHANA
No full textThe study examined the impact of mutual fund scheme on performance of Ghanaian stock markets between the periods 2016 to 2022. Specifically, the study examined the impact of close ended fund, open ended fund and unit trust fund on Ghana stock market capitalization. Monthly data were obtained from the Ghana Securities and Exchange Commission bulletin 2023. The research study adopted econometric technique such as the Augmented Dicky Fuller unit root test and ordinary least squared test to determine the impact of mutual fund on performance of Ghanaian stock market. Findings revealed that open ended fund, close ended fund and unit trust fund are significant and positive to Ghana stock market capitalization. The study concludes that investors should invest in mutual funds scheme as it provides adequate return on investments. Above all, the study believed that investors should increase their investment appetite in mutual fund scheme (open ended, close ended and unit trust) as it provides higher return on investments than other categories of investments in the capital market
Nigerian Journal of Banking and Financial Issues (NJBFI): THE CLAIMS SETTLEMENT BY PROFESSIONAL INDEMNITY INSURERS IN NIGERIA
No full textProfessional Indemnity Insurance (PII) serves as a critical financial safety net for professionals, safeguarding them against claims and fostering trust between service providers and clients. Given the increasing complexities of professional practices and evolving regulatory frameworks, this study examines the effects of macroeconomic factors on the claims settlement by professional indemnity insurers in Nigeria. Employing econometric models, the study analyzes the macroeconomic factors and claim settlement by professional indemnity insurers on the growth and stability of the PII sub-sector from 2010 to 2023. Using secondary data sourced from audited financial statements, the Nigeria Insurers Association Digest, National Insurance Commission reports, and the Nigeria Liability Insurance Pool’s annual reports, the study leverages time-series analysis and robust statistical methods, including multiple regression, fixed and random effects models regression, to ensure precision in evaluating key variables. Hence, this study explores how macroeconomic conditions shape the ability of insurers in Nigeria to settle professional indemnity insurance (PII) claims. Nigeria’s economy, with an average GDP of 2,345.93, income disparities limit access to PII for many individuals and small businesses. The stability of key market variablesclaims, policies sold, premium income, and GDP provides a solid foundation for forecasting and long-term planning. However, larger insurers have a clear advantage in managing risks, leaving smaller providers struggling to stay afloat. Stronger regulatory frameworks, diversified policy offerings, and economic stabilization efforts are crucial to addressing these challenges. Additionally, this study emphasizes the need for further research into the impacts of inflation and the effectiveness of regulatory strategies in fostering a more inclusive and resilient PII market
Nigerian Journal of Banking and Financial Issues (NJBFI): FINANCIAL DEVELOPMENT, RULE OF LAW AND DOMESTIC INVESTMENT IN WEST AFRICA
No full textThis study examined the impact of financial development and rule of law on domestic investment in West Africa. Secondary Data were obtained from World Bank development indicators database for the 16 West African countries from 2000 to 2021. Fixed effects Model Regression and Two-step System GMM were used to analyze the data. The study found that financial development, rule of law and interaction between financial development and rule of law had positive, significant effects on domestic investment. The study concluded that developing financial sector and maintaining sound rule of law are necessary for enhancing domestic investment. It was recommended that financial institutions particularly, commercial banks in West African countries should increase their lending to private sector for productive investment