BANKING & FINANCE

The major indicators of the financial performance of corporate entities are liquidity and profitability. Liquidity ratio is used to judge the ability of a firm to meet its short term maturing obligations. The higher the ratio the greater the margin of safety for short-term creditors (current ratio). While profitability ratio is concern with relative profitability and efficiency of utilization of resources of a business. Thus, this study seeks to determine the following: (1)The correlation between current  ratio and profitability; as measured by return on assets (ROA), (2) The correlation between Acid-test ratio and profitability; as measured by return on assets (ROA), (3) The correlation between return on capital employed and profitability; as measured by return on assets (ROA). The research design adopted for this study is the “quantitative research design”. The population consists of publicly quoted companies that make up the “industrial/Domestic products” industry. The sampling t...

The study covered four (4) selected financial deepening estimators as it affects the economy as a whole. To carry out the study, data were sourced through Statistical Bulletin 2018 and World Bank Development Indicators (2018) from 2003 to 2018. Group of low-income countries have continued to find the need for adequate financial deepening in a bid to enhance their economic growth. Though they are operating a modern type of economy, yet they are mostly mono-economy, relying more on either oil or agricultural products and heavily depending on oil. Hence, Nigeria is a small open economy. In analyzing the data obtained, linear regression analysis was used through SPSS 22.0. The study formulated four (4) hypotheses and the findings showed that the ratio of money supply, credit ratio in private sector, savings ratio and investment have impact significantly on Gross Domestic Product in Nigeria because the p-value t-statistics are 0.0481, 0.027, 0.046 and.000 respectively are all less than 5...

This paper examined empirically financial integration impact on Nigeria economic growth volatility. Specifically, it identified some of the major key variables through which financial integration influence growth volatility in Nigeria. Three research hypotheses were stated from which an empirical model was formulated to link the influence of financial integration using economic output as explained variable and degree of openness, foreign private investment, exchange rate foreign debt as explanatory variables over the period of 1987– 2019. Multiple regression analysis was employed to estimate the relevant variables. In addition, we tested for stationarity and determined long run association between the variables of the models. The work also reconciled the disequilibrium which exists in the short and long run relationships of the variables in the models. The result showed a non-significant degree of openness but positively associated with gross domestic product. Foreign private invest...

The purpose of this study was to examine the Application of Budgeting Techniques in Fiscal Institutions in Nigeria. The study specifically examined the level at which efficient budgeting techniques improves the revenue of fiscal institutions. The relationship between the budgeted recurrent expenditure and the actual recurrent expenditure is statistically significant and the relationship between the budgeted capital expenditure and the actual capital expenditure is statistically significant. The ex-post facto research design was used in this study and the purposive sampling techniques were also employed. The statistical techniques adopted for this study was the regression analysis via the use of SPSS statistical technique, which was used to test the hypothesis, which led to the rejection of the three null (H 0 ) hypotheses postulated and the acceptance of the alternate hypothesis. The research work revealed that budgeting has helped to control the differences between budgeted and act...

This study examined the effect of financial inclusion on inclusive growth in Nigeria between the periods of 1981-2020, which is a period of 40years. The study used secondary data (Time Series) from CBN statistical bulletin. The study covers the whole deposit money banks in the Nigeria economy and was limited to evaluation of the various measures of financial inclusion (Rural Bank Deposits (RBDs), Loans of Rural Branches (LRBs), Loans and Advances to Small & Medium Scale Enterprises (LADSMSEs), Bank Branches Spread (BBS), ATM Transactions (ATMs) and Financial Deepening Indicator (FDI) measured by Money Supply to GDP (MS/GDP) ratio) on inclusive growth (proxy Real Gross Domestic Product Growth Rate (RGDPGR)) in Nigeria. The data were analyzed with descriptive statistics which comprises the minimum, the maximum, mean, and standard deviation were used for the preliminary description of the data set. Since the data are annual time series that the stationary test (ADF and Johansen Cointegration Tests) was conducted as if the data are stationary to have accurate regression results. The correlation analysis was used to ascertain the co-movement of the independent variables about the dependent variable while the Multiple Regression analysis was employed with the aid of E-VIEW version 9.0 to test the research hypotheses. The result showed that Rural Bank Deposits (RBDs), Loans and Advances to Small & Medium Scale Enterprises (LADSMSEs), and Financial Deepening Indicator (FDI) has a significant effect on Real Gross Domestic Product Growth Rate (RGDPGR) while Loans of Rural Branches (LRBs), Bank Branches Spread (BBS) and ATM Transactions (ATMs) does not have a significant effect on Real Gross Domestic Product Growth Rate (RGDPGR) in Nigeria. Finally, the study concludes that financial inclusion has a significant effect on inclusive growth in Nigeria. It was recommended that Nigerian banks should develop financial products to reach the financially excluded regions of the country as this will increase the GDP growth rate of Nigeria and inclusive growth. The CBN should help reduce the high interest rate of banks as this would help ensure increased financial intermediation.

This research investigated external debt (ED) and growth nexus (GN) in Nigeria. LDC countries have difficulties in managing and servicing huge stocks of external debts. These LDCs nations are geographically found within Sub-Saharan African. Nigeria's relatively soaring ED accumulation plus rising debt burden are having serious consequences for the country's development and debt sustainability initiatives. While economic performance continues to deteriorate, there has been significant net asset depletion to meet debt obligations. The research used Autoregressive Distributed Lag (ADL) estimation techniques (1981-2018). The study's findings show that Nigeria's debt steadily increased with years. ED accumulation has a depressing linkage with growth. This demonstrates debt overhang (DO) dilemma. The result, suggests that present debt inflows (DI) are stimulating private investment. Debt servicing (DS) does not appear depressing on growth, but it does indicate crowding-out outcome on private investment. The study had some policy implications. Concurrent achievement of sustainable growth levels ED dynamics appears complex now, and may remain so if aggressive policies are pursued.

This study investigated deficit financing (DF) and growth inside a small modern economy with specific focus on Nigeria from 1986-2020. The explanatory variable, deficit financing gauged domestic borrowings (DOB), foreign borrowings (FOB), Foreign exchange reserve (FXR), external debt servicing (XDS), exchange rate (EXR). The explained variable, sustainable growth was measured by real Gross Domestic Product (RGDP). It applied the fully modified least square (FMOLS) in testing the research hypotheses. The study found that DOB has a depressing but considerable effect on sustainable growth. Meanwhile, FOB and FXR have an affirmative and a considerable outcome on sustainable growth. However, XDS) has a depressing and inconsequential effect on sustainable growth. More so, EXR being the control variable reported a depressing but considerable effect on both DF and growth. Hence, the research opines that DF is and still remains the surest way for enhancing Nigerian economy provided the cost of servicing loan is relatively low. As such, policy makers must ensure that borrowed funds by state owned and local government enterprises should be well accounted. Again, central government must maintain most advantageous echelon of foreign debt (FD) as surest way of achieving high sustainable growth. Lastly, the federal governments in Nigeria should ensure that all efforts towards reducing her foreign reserve should be abhorred.

This study investigated deficit financing (DF) and growth inside a small modern economy with specific focus on Nigeria from 1986-2020. The explanatory variable, deficit financing gauged domestic borrowings (DOB), foreign borrowings (FOB), Foreign exchange reserve (FXR), external debt servicing (XDS), exchange rate (EXR). The explained variable, sustainable growth was measured by real Gross Domestic Product (RGDP). It applied the fully modified least square (FMOLS) in testing the research hypotheses. The study found that DOB has a depressing but considerable effect on sustainable growth. Meanwhile, FOB and FXR have an affirmative and a considerable outcome on sustainable growth. However, XDS) has a depressing and inconsequential effect on sustainable growth. More so, EXR being the control variable reported a depressing but considerable effect on both DF and growth. Hence, the research opines that DF is and still remains the surest way for enhancing Nigerian economy provided the cost of servicing loan is relatively low. As such, policy makers must ensure that borrowed funds by state owned and local government enterprises should be well accounted. Again, central government must maintain most advantageous echelon of foreign debt (FD) as surest way of achieving high sustainable growth. Lastly, the federal governments in Nigeria should ensure that all efforts towards reducing her foreign reserve should be abhorred.

The study examined the relationship between innovative banking models and banks fragility in post covid-19 era in Nigeria. To achieved this objective, the innovative banking models was proxied with Automatic Teller Machine Transactions (ATMTs), Internet Transactions (ITs), Point of Sale Terminals (POS) and Mobile Transactions (MTs) in relation to banks fragility proxied with Non-Performing Loans Ratio (NPLR) in Nigeria. The method of data collection used in this study is the secondary source of data (time series data), from the CBN Bank Supervisory Annual Report, CBN Statistical Bulletin and Nigeria Deposit Insurance Corporation (NDIC) Annual Reports for the period 2000-2020. Secondary source of data is use in this study because it deals with the measures of innovative banking models [Automatic Teller Machine Transactions (ATMTs), Internet Transactions (ITs), Point of Sale Terminals (POS) and Mobile Transactions (MTs)] on Non-Performing Loans Ratio (NPLR) proxy for bank fragility for Nigerian Deposit Money Banks in post Covid-19 era of events that has already taken place and recorded from their secondary sourced from the CBN bank supervisory annual report and NDIC annual reports. The time series data will be subjected to a unit root test to determine whether or not they are stationary. After that, descriptive statistics and correlation analysis were used to assess the nature of the link between the independent; Automatic Teller Machine Transactions (ATMTs), Internet Transactions (ITs), Point of Sale Terminals (POS) and Mobile Transactions (MTs) and the dependent (Return on Asset (ROA)) variables. The computer statistical software E-VIEWs 9.0 was used to do multiple regression analysis through the regression model. This is the proper procedure for analyzing data in relation to the study in issue. The findings revealed that Automatic Teller Machine Transactions (ATMTs), Internet Transactions (ITs), Point of Sale Terminals (POS) and Mobile Transactions (MTs) has insignificant effect on Non-Performing Loans Ratio (NPLR). Thus, concluded that innovative banking models do not have significant effect on banks fragility in post covid-19 era in Nigeria. Based on the findings, thereby recommends that the management of the banks should put modalities in place in order for them to used innovative banking models as a strategic tool in reducing bank fragility in Nigeria.

The paper examined if there exist any linkages between mortgage financing and housing delivery in Nigeria from periods of 2002-2021. Specifically, the paper examined the effect of Primary Mortgage Bank Loans, Federal Mortgage Bank Loans to Mortgage, Microfinance Bank loans to mortgage, and Government Allocation to Housing on housing delivery in Nigeria. Data for the study were sourced from the Central Bank of Nigeria (CBN) statistical bulletin and the National Bureau of statistics (2021) from 2002 to 2021. Meanwhile, the study adopted the OLS estimate. Various pre-estimation and diagnostic tests considered include:  Heteroskedascity test, Ramsey Reset Test, and variance inflation factors/multi-collinearity test. The study reported that, Primary Mortgage Bank Loans have significant adverse effects on housing delivery. Meanwhile, Federal Mortgage Bank Loans to Mortgage improves housing delivery minimally. More so, MBLM and finance Bank loans to mortgage and Government Allocation to Ho...

The study examined the relationship between financial deepening (FD) and entrepreneurial growth (EG) in Nigeria for the period of 1986-2021 (36years). This was done in respect to the measures of FD, namely; Ratio of Broad Money Supply to Gross Domestic Product (M2/GDP), Ratio of Private Sector Credit to Gross Domestic Product (PSC/GDP), Ratio of Market Capitalization to Gross Domestic Product (MCAP/GDP) and Ratio of Loans to Small and Medium Scale Enterprises to Gross Domestic Product (LSMSE/GDP) in relation to EG was proxied by Small and Medium Scale Enterprises Output (SMSEO) in Nigeria. The data for the study was sourced from Central Bank of Nigeria (CBN) Statistical Bulletin and World Bank Development Indicators. Then, the stationary and normality tests was carried out, followed by the descriptive statistics, correlation and multiple regression tool of analysis with the aid of E-VIEW 9.0 statistical package. The results showed that M2/GDP, PSC/GDP, MCAP/GDP and LSMSE/GDP have po...

Business environment in Nigeria is becoming increasingly competitive, uncertain and complex. These changes are happening so fast that organisations that desire to remain in business must speedily adapt and adopt new strategies to meet the demands of the dynamic business environment. The research determines the effect of corporate diversification strategies on the financial performance of industrial goods. The research espoused the ex-post facto data from annual reports of the selected listed industrial goods companies on the Nigerian Stock Exchange (NSE) from 2012 to 2021. The least square regression analysis was used to evaluate the effect of the independent variables on the dependent variable. It was found that Income diversification has no significant effect on the return on assets of industrial goods companies in Nigeria. Also the study revealed that business segment diversification has considerable effect on the return on assets of industrial goods companies in Nigeria. It reco...