1,720,975 research outputs found
Assessment of Regulatory Framework for Insurance Business in Nigeria
Get PDFThe regulatory framework for insurance business in Nigeria is overseen by the National Insurance Commission (NAICOM). NAICOM is responsible for the regulation and supervision of all insurance companies and intermediaries operating in Nigeria. Overall, the regulatory framework in Nigeria has improved over the years, but there are still areas that need improvement. In order to broaden the scope of the regulatory action by the regulators, the paper selected the questions for research as an analysis of the legal regime and framework for insurance regulation in Nigeria and the challenges consequent thereto. The insurance industry is unquestionably a significant source of revenue for economies all over the world, In Nigeria, the difficulties have had more negative impact than positive impact on the industry\u27s expected growth and development, leading to public apathy and discouragement. The Insurance Act of 2003 neither anticipated nor included these difficulties nor did it make any provisions for addressing them. Aside from them, the Act had good intentions because it led to many significant advancements in the insurance industry. However, a review or analysis of the aforementioned issues revealed opportunities for future development. It also highlighted the main causes of the institution\u27s current setbacks and disinterest. The necessity of regulating the business has been emphasised, as has the value of insurance to society and economic development. With an explanation of the legislation supporting the exercise, the context of regulation was first explored. It was determined that regulation relates to both the institutions and the norms that apply to the industr
Human Capital Formation and Economic Growth in Nigeria
Get PDFThis study investigates how the development of human capital is related to economic growth in Nigeria from 1980 to 2015. Data were sourced from the Central Bank of Nigeria and the National Bureau of Statistics. The study employed Augmented Dickey-Fuller (ADF) to estimate the relationship among the variables used in this study which revealed that there is a positive long-run relationship among public expenditure on education and health, total school enrolment, gross capital formation, employment rate, life expectancy rate and economic growth. The study recommended that the government should put in place the required education and training policy that would guarantee quality schooling for different level of education. Government should also commit more funds to health sector to enhance human capital formation. It was also recommended there should be more pragmatic means to develop human capabilities
An Assessment Of The United Nations Convention Against Corruption: Implications For Nigeria
No full textThis paper explores corruption themes that are enforcement-related. The United Nations Convention Against Corruption (UNCAC) is an international instrument used to prevent andcombat corrupt global practices. It was adopted by the United Nations General Assembly in October 2003 and entered into force in December 2005. Nigeria, a state party to the UNCAC,signed the treaty on the 9th of December 2003 and ratified it on the 24th of October 2004. The UNCAC is yet to be domesticated in Nigeria in accordance with the provisions of the Constitution. It is apposite to note, however, that several pieces of legislation complying with different provisions of the UNCAC have been enacted into law by the National Assembly andStates Houses of Assembly, and several implementation structures have been set up in view of such legislation. The UNCAC is unique forits worldwide coverage and the scope of its provisions,which include but are not limited to preventive and punitive measures. It calls on civil societyand non-governmental organizations to participate in the accountability process. Most importantly, these organizations work together to fight corruption by making provisions for international cooperation amongst state parties
Impact of Intellectual Capital on Financial Performance of Listed Nigerian Oil Marketing Companies
Get PDFIntellectual capital plays an important role in every company regardless of nature and the environment its operates, in the sense that, investment in human capital development is considered to be important than in physical and financial asset despite the fact that such expenditure is not expressed in monetary term but in narrative form especially in Chairman’s statement. Therefore, this study examined the impact of intellectual capital on the financial performance of the listed Nigeria oil marketing companies. The study’s period spanned through 10 years 2007 - 2016. Intellectual capital was measured by the market to book value ratio (MB), Value Added intellectual coefficient (VAIC), and monetary model of Tobin’s Q (MMQR) while the financial performance was measured by return on asset (ROA). The ex-post facto research design was adopted while data was extracted from the firms’ financial statements. Multiple regression analysis was used to ascertain the impact of intellectual capital on financial performance. From the result, it was discovered that market to book value has a negative significant impact on return on asset. Monetary model of Q Tobin’s has an insignificant impact on return on asset while Value added intellectual coefficient also has an insignificant impact on return on asset. The study, therefore, recommended that the listed Nigerian oil marketing companies should strive to boost the value of their intellectual assets for its ultimate effect on ROA through maximization of their market value, maximization of Intellectual Capital return and more investment in Intellectual Capital components, particularly human, structural and relational capital. More attention should be given to the human side of the intellectual capital and reliance should not strictly be focused on the numeric evaluation and improvement. Also, standard on intellectual capital accounting is issued by the International Financial Reporting Committee (IFRC) to enable firm’s measure and record their intellectual capital values as they relate to financial performance in their income statements which will invariably improve company performance. Keywords: Accounting, Financial performance, Financial reporting, Intellectual capital, Tobin
Corporate Social Responsibility and Financial Performance of Selected Food and Beverage Companies in Nigeria
No full textThis study examines the effect of community involvement activities on the financial performance of food and beverage companies in Nigeria. The specific objectives are to determine the relationship between corporate social responsibility and return on capital employed, and to determine the relationship between corporate social responsibility and earnings per share. The study made use of the quantitative research method. The sample of the study comprises seventeen (17) food and beverage companies listed on the Nigerian Stock Exchange market. Quantitative Data analysis was analyzed using the Stata. The cоеfficiеnt of determination, R squаrеd, mеаsurе was put to test the significance of the regression model in explaining the relationship between corporate social responsibility practices reported in the аnnuаl reports and the financial performance. The findings of the study revealed community involvement has a positive but insignificant relationship with return on capital employed and also has a positive insignificant relationship with earnings per share in food and beverage companies in Nigeria. Consequent to this study, it was recommended among others that food and beverage companies should endeavor to improve on their corporate social responsibility disclosures especially the ones with relatively low levels of disclosures
Asset Quality and Financial Performance of Deposit Money Banks in Nigeria: Asset Quality and Financial Performance of Deposit Money
No full textThe performance of a banking institution is largely driven by its ability to increase its customers\u27 patronage, retain them and manage its assets and liabilities to enhance optimal returns.This can be done through banks maintaining adequate capital and quality assets for better performance. Even though banks are highly regulated and capital adequacy requirements have been in place since 1988 in Nigeria, many banks have experienced poor performance, as indicated by high levels of credit risk, poor-quality loans and a high incidence of non-performing loans. It is, thus, imperative to ascertain the effect of asset quality on the financial performance of Deposit Money Banks (DMBs) in Nigeria. This study employed ordinary least square regression analysis with emphasis on fixed effect and random effect models. The findings of this research revealed that non-performing loans have a negative and not significant effect on the financial performance of DMBs in Nigeria (â = - 0.022478, P >0.05), and loan loss provisions have a negative significant effect on the financial performance of Deposit Money Banks in Nigeria (â = - 0.002954, P < 0.05). The results showed that asset quality is a key factor affecting the financial performance of Deposit money banks. It confirmed that Deposit Money Banks with good management of their loans achieve higher financial performance. So, to work properly in any economic condition, the banks should have a minimum or zero loan loss provision, which provides financial soundness and stability. 
Determinants of Forensic Accounting Techniques and Theories: An Empirical Investigation
Get PDF This study sought and investigated the determinants of forensic accounting techniques. The data analysed in this study were gathered from both primary and secondary sources. The 120 respondents were purposively selected, which includes forensic accountants, fraud auditors, bankers, forensic investigators, finance enthusiasts, fraud investigators, and those in academia. The data for this study were gathered electronically using an online questionnaire through Google Form. The Google Form analysis was adopted. Secondary data were the existing data, established by seasoned professionals and academics. The data were presented through pie charts, bar chats, and descriptions. The study shows that the nature of fraud under investigation which includes the level of crime perpetrated, how much involved, stages, complexity, and who is involved are the determinant of techniques to be applied to fraud examination. Also, other factors such as criminal evidence, the expertise and experience of the examiner, organisational policies, and the risks involved determine what techniques to be applied to forensic investigations. Data mining emerged as the most appropriate technique for fraud investigation, however, the combination of two or more techniques is advised for forensic accountants, forensic legal practitioners, and all other similar parties. This study recommends the need for stakeholders to engage, recruit, and employ the services of a forensic accountant to review, strengthen, reappraise records and internal control systems on a routine basis; Organisations should train employees on the dynamics and scope of financial crimes, the legal environment, fraud prevention, and ethical issues
Effect of Micro, Small and Medium Enterprises’: Access to Credit Services and Employment Creation on Poverty Level in Nigeria
No full textThis study examined the effect of Micro, Small and Medium Enterprises’ (MSMEs) access to credit services and MSMEs\u27 employment creation on the poverty level in North-central Nigeria. The mixed method research strategy was adopted. The population of this study includes; 5, 757,817 micro, small and medium enterprises in the six states of north-central Nigeria, out of which a sample size of 384 was selected. The Cochran sample size formula (1977) was employed to compute the sample size. The study adopted the use of the Ordinal Regression Method (ORM) as a method of analysis. The findings revealed that MSMEs\u27 access to credit services has a negative impact on the poverty level in north central Nigeria and that MSMEs\u27 employment creation has a negative and significant effect on the poverty level. The study concluded that Micro, Small and Medium Enterprises (MSMEs) in Northcentral Nigeria face numerous challenges that have hindered their profitability, sales performance and survival. Challenges range from poor infrastructural development, accessing credit facilities for expansion, and poor managerial skills of the MSMEs’ operators etc. Therefore, the study recommended that the government should provide grants and aid to MSMEs in the North-central to ensure adequate financing of MSMEs enterprise. Also, the government should provide policies that will support and improve the creation of MSMEs in the North-central
Working Capital Financing and Entrepreneurship Growth in Nigeria: An Empirical Investigation
No full textThis study investigated the effect of working capital financing on entrepreneurship growth in Nigeria by employing ex-post facto research design using panel data analyses of financial information extracted from financial statements for the years 2012 to 2016 of 10 companies listed under “consumer goods” NSE. Descriptive and inferential statistics including multiple regression analysis were employed. This study established that there is a significant positive relationship between working capital financing (as proxied by inventory management, receivable management payable management and cash management) and entrepreneurship growth in Nigeria (proxied with log of changes in total assets and log of changes in sales volume) resulting R2 =.399, Adjusted R2 = .327, F= 2.797319. the study, therefore concluded that effective working capital financing aids entrepreneurship growth in Nigeria. This study recommended that entrepreneurs and stakeholders should manage working capital components for effective business growth
Effects of Tax Havens and Employee Tax Fraud on Internally Generated Revenue (IGR) in Oyo State, Nigeria
Get PDFThe current study examined the effects of tax fraud on the Internally Generated Revenue (IGR) of the Oyo State Government. The study investigated the impact of tax haven utilization and tax incentives on IGR. Moreover, the study also adopted a quantitative research design and employed a standardized questionnaire as the primary research instrument. The population comprised personnel from the Oyo State Internal Revenue Service. A non-probability purposive sampling technique was employed due to the small population size. The questionnaire comprised two sections, that is, section one focused on respondent characteristics, whereas the other one focused on tax fraud and IGR. Regression analysis was employed as a data analysis technique to test the hypotheses. Moreover, the study also examined the relationship between tax fraud variables, tax haven, and IGR. The findings revealed no significant relationship between tax haven utilization and IGR. Furthermore, a significant positive relationship was established between employee tax fraud and IGR, indicating its adverse impact on revenue generation. Based on findings, it was recommended that the Oyo State Government should implement measures to prevent employee tax fraud including comprehensive training and monitoring of tax officials along with the establishment of a whistle-blower policy. By effectively addressing tax fraud, the government can enhance its IGR and work towards its development objectives
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