Faculty of Management Sciences

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A Review On Islamic Corporate Governance And Performance Of Islamic Financial Institutions In Nigeria
(UMYU Journal of Accounting and Finance Research, 2023-02-02) Sa’adatu Balarabe Adam; Abubakar Hadiza Saidu
Islamic financial institutions are essential catalyst to economic growth in Nigeria and their performance assumed to be influenced by corporate governance practices. The purpose of this study is to review the role of Islamic corporate governance on the IFIs performance in Nigeria. Even though the relationships have produced significant scholarly impact, few studies have been conducted on IFIs performance in Nigeria. The content analysis was utilized. The findings of the study revealed that corporate governance is significant to IFIs’ performance in Nigeria. This study contributes to the existing literature on corporate governance practices and IFIs’ performance in Nigeria. Finally, the study’s implications for theory and practice, limitations, conclusion as well as the direction for future research are provided and discussed.
A Systematic Review Of Cryptocurrency Scholarship
(International Journal of Commerce and Finance, 2019-02-02) Isaiah Adeleke; Umaru Mustapha Zubairu; Bilkisu Abubakar; Maitala Faiza; Yakubu Mustapha; Ekanem Ediuku
Purpose – The purpose of this paper was to conduct a systemic review of extant cryptocurrency research in order to identify important features of these studies and to provide directions for future cryptocurrency research. Methodology - The Systematic Quantitative Assessment Technique (SQAT) was used to identify and review relevant peer-reviewed journal articles that investigated various facets of cryptocurrency. Findings – 54 journal articles were identified from 12 high-quality databases. The findings of the review revealed that most of the studies took place in Europe, North America and Asia, while Africa has been largely ignored. The main focus of cryptocurrency articles has been on a call for regulation of cryptocurrency without much work done on how to mitigate its vulnerability to the financing of terrorism and as a tool for money laundering. Finally, most cryptocurrency articles adopted a single research method – survey. There is a need for future studies to combine a variety of methods so as to gain additional insight into the issues of cryptocurrency’s vulnerability, risk identification and mitigation, regulation and acceptability. Research limitations - The use of limited but high quality academic databases means that some articles were not considered for this review. Originality/value – This study is one of the few studies to conduct a systematic review on a phenomenon which has the potential to transform the global financial landscape.
Accounting ethics education in Nigeria
(Academic journal of economic studies, 2018-02-02) Salami, Abdulai Agbaje; Sanni, Mubaraq; Uthman Ahmad Bukola
The symbiotic relationship between good ethical disposition and accounting profession is incontestable. Aside from the previous infamous global corporate scandals, the recent fraudulent practices revelation in the Nigerian public life is a serious source of concern. This study examines the impact of ethics education on the potential accountants to establish whether the propriety of their conduct in the future is guaranteed. This necessitates the survey of accounting students based on the three forms of ownership of university in Nigeria. The findings of the survey based on the structured questionnaire using Kruskal-Wallis tests show that, the students’ groups agree on the value-relevance of ethics education, its ability to expose them to means of resolving future ethical challenges and their readiness to become whistle-blowers. However, the students’ groups’ failure to agree on the necessity of ethical competence for accountants and their disagreement on their confidence to tackle unfamiliar problems signal what is expected of accounting educators for students to become more ethically equipped. Also, the expectation of the reinforcement of whistle-blower protection is evident from its intertwining with disclosure of unethical practices. The timing and implications of this study on the activities of accounting educators and policy makers accentuate its uniqueness.
Advertisement and Consumers Behaviour among Selected Manufacturing Firms in FCT Abuja
(The European Centre for Research Training and Development UK, 2025-02-02) Babayemi Oduyingbo Joshua; Abdulrahman Shehu Ahmadu; Grace Udo; Abubakar Hadiza Saidu
This study examines the impact of advertising on consumer behavior in the context of selected manufacturing firms in the Federal Capital Territory (FCT), Abuja. The research focuses on the effects of advertisement frequency, social media advertising, ad content personalization, and advertisement format on brand loyalty, purchasing decisions, consumer engagement, and consumer recall. Using a descriptive cross-sectional survey, the study gathered data from 400 consumers of Dangote Group, Nestle Nigeria PLC, Unilever Nigeria, Cadbury Nigeria, and Friesland Campina products. The findings reveal a significant positive relationship between advertisement frequency and brand loyalty, indicating that frequent exposure to advertisements strengthens consumer attachment to a brand. Additionally, personalized ad content was found to significantly influence consumer engagement, while advertisement format was a key factor in consumer recall. However, social media advertising showed a weaker impact on purchasing decisions in the context of Abuja. Based on these findings, the study recommends that manufacturing firms increase advertisement frequency, refine social media strategies, focus on personalized advertising, and invest in creative advertisement formats to improve consumer engagement and recall. The research highlights the importance of strategic advertising in shaping consumer behavior and strengthening brand loyalty in a competitive market.
An Empirical Investigation into the relationship between Capital Structure and Firm`s Market Value in Nigeria
(Journal of Accounting, Finance and Development, 2019-02-02) Okoye, Peter Anija; Ayogu Sunday
Following the Modigliani and Miller theory (1963), there have been considerable debates on the nature of relationship that exists between a company`s capital structure and its market value. This study seeks to empirically investigate the relationship between corporate capital structure and a firm`s market value in Nigeria.. Dataset from selected companies listed on the Nigerian Stock Exchange for the period of 2013- 2017 were used for analysis. Results from the analysis show a positively significant relationship between a firm`s capital structure and its market value.. Hence, the study recommends that listed companies in Nigeria should optimize their capital structure in order to maximize their market value for the benefit of all the stakeholders.
An Empirical Investigation Of The Impact Of Artificial Intelligence On Accounting Practice In Nigeria
(African Journal of Accounting and Financial Research, 2023-02-02) Ugo Celina
An Evaluation of the Impact of Change Management on Employee Performance in the Nigerian Electricity Regulatory Commission
(Scientific Research Publishing Inc., 2021-02-02) Chuka Stephen Akunne; Abbas Umar Ibrahim
This research is aimed at evaluating the extent to which change management impacts on employee’s performance in the Nigerian Electricity Regulatory Commission Sector. The study adopted research design based on data collected through questionnaire survey distributed to staff of the Commission. Questionnaires were distributed electronically to 80 employees and 60 completed questionnaires were returned at a response rate of 75%. Non-probability sampling techniques were used. Using descriptive and inferential statistics methods, this study found that a positive relationship existed between various changes in the Commission, the attitude of employees to work and their general performance. To the best knowledge of the researcher, few empirical studies have been conducted to determine how change management has impacted on employee performance in the Nigerian public sector; specifically, in the Nigerian Electricity Regulatory Commission. This study aims to fill that gap.
Analysis of Factors Affecting Brand Loyalty of Product among Consumers in Nigeria
(European Journal of Business and Management, 2014-02-02) Abubakar Hadiza Saidu
This study attempts to examine factors affecting brand loyalty of product among consumers in Nigeria. These factors include Customer satisfaction, Product involvement, perceived quality and brand trust that could possibly enhance brand loyalty. In this study, brand loyalty is approached based on previous studies and literature, by building a framework to link the dimensions of brand loyalty and brand involvement and also the factors that enhance both.
Analysis of Theories of Management Relevant to the Marketing Function in Contemporary Times
(European Journal of Business and Management, 2014-02-02) Abubakar Hadiza Saidu
This paper reviews some Management theories namely: the Scientific Management theory, the Classical organizational theory, the Behavioral theory and recent developments in Management theory. The paper analyzed how the theories relate to the Marketing Function as well as review the extent of success achieved by these theories. The paper concludes that though the Management theories help in interpreting the rapidly changing nature of today’s markets, not all have been successful in influencing, interpreting or explaining the marketing functions.
Assessing the effect of corporate social responsibility on financial performance of a company
(European Journal of Management Issues, 2019-02-02) Abbas Umar Ibrahim; Okechukwu Umeano
Purpose – to research the effect of the corporate social responsibility (CSR) on the corporate financial performance (CFP) of quoted banks in Nigeria. Design/Method/Research approach. Using data of corporate social responsibility expenditure as a proxy for CSR and the trio of return on assets (ROA), return on equity (ROE), and bank earnings per share (EPS) as a proxy for CFP, regression analysis was conducted. ROA, ROE, and EPS data were collected from the banks’ financial statements for the period 2012 – 2016. Findings. In particular, our analysis and findings suggest that CSR expenditure had no significant effect on all the three proxies of CFP of quoted banks in Nigeria. It supports the arguments in the literature that financial performance alone does not justify expenditure on CSR activities by the quoted Nigerian banks Practical implications. Our results show that there is a need for banks to consider other factors to see if the case for CSR activities exists. If they do not, the banks should stop engaging in these activities to increase the banks’ profitability.
Assessing the Impact of Entrepreneurship Education on the Entrepreneurial Intention of Nigerian Entrepreneurship Students
(Universitas Pendidikan Indonesia, 2019-02-02) Owoyemi Amuda; Umaru Zubairu; Bello Ibrahim; Maitala Faiza
This study investigated the impact of entrepreneurship education on the entrepreneurial intentions (EI) of students enrolled at the Department of Entrepreneurship and Business Studies located in the Federal University of Technology Minna, Nigeria. It employed a cross-section survey design using a questionnaire adapted from Turker & Selcuk (2009). A comparison of the mean EI scores of 82 final-year and 68 second year students revealed that there was no significant difference in entrepreneurial intentions between the two groups of students. This implied that the curriculum of the department needed to be revised, and that a policy of mandating entrepreneurship education at the university level was insufficient to address the alarming youth unemployment problem in Nigeria.
Assessing the Influence of Corporate Social Responsibility on Organizational Image in Selected Food and Beverage Companies in Nigeria
(Scientific Research Publishing Inc., 2020-02-02) Abbas Umar Ibrahim; Alfa Abubakar
This study portrays Corporate Social Responsibility (CSR) as an organizational activity whose successful planning and implementation can be used to gain positive Organizational Image (OI). The benefits of CSR to stakeholders have been well documented to a great extent. However, to the best of our knowledge, not much information is available on how CSR impacts the image of the organizations that render it. In an attempt to fill the gap, this study examined the impact of CSR on OI of selected companies in the food and beverage (F & B) industry in Nigeria, looked at how organizational image influences Sales Revenue and explored the impact of organizational image on brand loyalty. The study employed survey research design and covered the Federal Capital Territory. A sample size of 180 was chosen from amongst dealers and bakers in the territory through Random Sampling Technique. A self-administered questionnaire was used for data collection from some customers of Flour Mills of Nigeria Plc which is the leading wheat flour millers in Nigeria in terms of production capacity. Data collected were analyzed using Statistical Package for Social Sciences (SPSS). Findings of the study revealed that CSR activities are prime drivers of Organizational Image building. Most importantly, it was discovered that there is a positive relationship between Organizational Image, Sales Revenue and Brand Loyalty. Based on the findings, organizations can invest more resources into CSR activities as a deliberate means of building positive image, attracting more Sales Revenue and developing sustainable brand loyalty as a means to achieve their long term strategic goals.
Audit Committee Characteristics and Corporate Performance
(Asian Journal of Economics, Business and Accounting, 2023-02-02) Lucky Otsoge Onmonya; Ebire Kolawole
The corporate governance code mandates all publicly quoted firms in Nigeria to establish an audit committee to ensure transparency in financial reporting and protect shareholders' interests. This study examined the effect of audit characteristics on the corporate performance of listed conglomerates in Nigeria from 2015 to 2021. Audit characteristics was proxy as audit committee size, audit committee meetings and audit committee independence, while corporate performance was proxy as return on asset. The secondary data were sourced from the firms' annual reports and were analysed using correlation matrix and panel fixed regression. The result from the panel regression showed that audit committee size and independence do not significantly affect the performance of listed conglomerates in Nigeria. In contrast, audit committee meetings significantly but negatively affect listed conglomerates in Nigeria. This study concludes that the frequency of audit committee meetings does not increase the performance of firms. This study recommends that the Security and Exchange Commission ensure that conglomerate firms in Nigeria comply with at least four audit committee meetings in a year to improve monitoring mechanisms and corporate performance
Audit Pricing, Start-Up Cost and Opinion Shopping
(Journal of Accounting and Management Information Systems (JAMIS), 2014-02-02) Tijani, Oladipupo Muhrtala; Uthman Ahmad Bukola; Abdul-Baki, Zayyad; Oke, Lukman Adebayo
The purpose of this paper is to predict the association between the effect of start-up cost and audit opinion shopping on the pricing strategies of medium-sized audit firms. Using a sample of 753 local –office-year observations between 2006 and 2011, we find evidence of a positive association between higher audit pricing of new private client and audit opinion shopping. We also find that start-up cost is a good predictor of higher initial fees charged by auditors for private clients. While earnings risk management (ERM) and financial performance risk (FPR) are significant factors in audit pricing, litigation risk (LR) however failed to evolve as a direct significant predictor. Although this study focused on the effects of start-up costs and opinion reporting, it fails to differentiate between firm cost allocation and apportionment. The model can be used to assist audit firms not only to develop pricing strategies that fully reflect the effective cost allocation, but also to be receptive to the implications of opinion reporting on service pricing.
Bank capital, earnings smoothing and provisioning practices in Nigeria
(Emerald, 2024-02-02) Abdulai Agbaje Salami; Uthman Ahmad Bukola
Purpose – This study empirically tests the use of loan loss provisions (LLPs) for earnings and capital smoothing when emphasis is laid on banks’ riskiness and adoption of the International Financial Reporting Standards (IFRSs) in Nigeria. Design/methodology/approach – Annual bank-level data are hand-extracted between 2007 and 2017 from annual reports of a sample 16 deposit money banks (DMBs), and analysed using appropriate panel regression models subsequent to a number of diagnostic tests including heteroscedasticity, autocorrelation and cross sectional dependence. The use of both reported LLPs (TLLP) and discretionary LLPs (DLLP) for earnings and capital management is tested to advance the practice in the literature. Findings – Generally, the study finds that Nigerian DMBs manage capital via LLPs, while mixed results are obtained for earnings smoothing. However, during IFRS, Nigerian DMBs’ management of capital is identifiable with TLLP, while smoothing of earnings is peculiar to DLLP. Additionally, evidence of the improvement in loan loss reporting quality expected during IFRS for riskier Nigerian DMBs, could not be attained. This is corroborated by the study’s findings of the use of both TLLP and DLLP for earnings and capital management during IFRS by DMBs in solvency crisis against the only use of TLLP to manage capital found for the entire period. Practical implications – The evidential capital and earnings lopsidedness may subject Nigerian DMBs’ going-concern to a lot of questions. Originality/value – The study sets a foremost record in the empirical test of managerial opportunistic behaviour embedded in earnings and capital concurrently while accounting for loan losses by all categories of Nigerian DMBs in terms of riskiness, following accounting regime change.
Bank Capital, Operating Efficiency, and Corporate Performance in Nigeria
(Acta Univ. Sapientiae, Economics and Business,, 2018-02-02) Abdulai Agbaje Salami; Uthman Ahmad Bukola
This study examines the impact of bank capital and operating efficiency on the Nigerian deposit money bank financial performance with a view to resolving risk-based and non-risk-based capitals’ dichotomy existing in the bank literature. Using bank-specific data obtained from the annual reports and accounts of 15 banks listed on the Nigerian Stock Exchange between 2012 and 2015, the panel data regression analyses revealed the superiority of standard capital ratio of equity-to-total-assets, a non-risk-based capital, over other measures. While all measures, both risk-based and non-risk-based capitals, showed significantly positive effects on bank performance as measured by return-on-asset, mixed results were obtained from other indicators: return-on-equity and net-interest-margin. Overall, only equity-to-total-assets influenced all adopted performance indicators positively. It was also found that operating efficiency measured by cost-to income ratio had negative impact on bank performance, but on the average it appeared too high. Thus, incorporating the standard capital ratio of equity-to-total assets into regulatory regime by the banks’ regulator is recommended to ensure its relevance is not overshadowed.
Bank Funding Strategy and Income Smoothing Practices in Nigeria
(Global Journal of Accounting, 2022-02-02) Abdulai Agbaje Salami; Uthman Ahmad Bukola; Rahji Ohize Ibrahim; Kamaldeen Ibraheem Nageri
The regulators’ provision of bailouts to troubled banks accentuates the connection between level of funding and bank financial condition. This scenario has been characteristic of Nigerian deposit money banks (DMBs) in the last decade and followed by a number of reforms including adoption of International Financial Reporting Standards (IFRSs). This prompted the study’s examination of nexus between bank funding strategy and income smoothing practices achievable via adjustments to loan loss provisions (LLPs) considering IFRSs adoption and solvency risk. Bank-level unbalanced panel data were hand-extracted from the annual reports of a sample of 16 DMBs for the period 2007-2017. Data were analyzed using appropriate panel regression model subsequent to derivation of discretionary provision for loan losses (DPL) used to measure income smoothing and index of funding strategy (FSI) as a measure of overall funding strategy. The results showed that bank funding drive prompts Nigerian DMBs’ income smoothing practices via DPL regardless of their solvency status and reflects majorly in their motive for external financing, deposit and non-deposit funding other than internal funding strategy. However, reduction was noticeable during IFRS given the observed inverse relationship between funding strategy and Nigerian DMBs’ income smoothing practices. Despite improved financial reporting quality during IFRS, the mixed results obtained in the funding strategy-DPL nexus of Nigerian DMBs threatened by risk of insolvency call for increased level of oversights and additional reforms by the regulators. The need for regulators to re-sharpen their supervisory tools as Nigerian DMBs switch from IAS 39 to more discretions-inclined IFRS 9 for loan loss reporting was also advocated. This study is unique for derivation of FSI and joint test of IFRS-solvency risk moderating influence.
Bank Lending Channel of Monetary policy Transmission Mechanism in Nigeria
(IIARD International Journal of Banking and Finance Research, 2018-02-02) Ebire Kolawole; Ogunyinka, Suleiman Femi
This paper investigated the existence of a bank lending channel in monetary policy transmission in Nigeria using quarterly data spanning the period 2002:1 through 2017:1. The analysis was conducted using Vector Error Correction Mechanism (VECM). Findings revealed the presence of three cointegrating relationship among the variables, identified as loan demand and supply by testing for exclusion and exogeneity restrictions on the cointegrating relationships. The study also found that loan supply was significant and positively associated with borrowing rate but negatively significant with lending rate equation which supports the existence of a lending channel for monetary transmission process. The policy implication of this is that, if the CBN raises the policy rate, bank supply of loan will respond negatively. This will restrict the total amount of loan that banks can offer to the private sector. Based on this finding we therefore recommend that the apex bank should give more credence to credit rates when instituting its monetary policies transmission.
Bank Loan Loss Cyclicality in Nigeria
(Renaissance University Journal of Management and Social Sciences, 2022-02-02) Abdulai Agbaje Salami; Uthman Ahmad Bukola; Kayode Mohammed Ajape
The occurrence of global and local meltdowns and the subsequent instability experienced by the Nigerian banking sector necessitate empirical test of the nexus between business cycle and loan loss provisions (LLPs). This study examined the loan loss cyclicality behavior of Nigerian deposit money banks (DMBs) taking into consideration economic-boom-bust-cycles. Bank-level and macroeconomic data were obtained from sampled 16 DMBs’ annual reports and CBN Statistical Bulletin respectively between 2007 and 2017 covering both periods of global financial meltdown (2008-2009) and local economic recession (2016-2017). The study’s hypotheses were tested using Prais Winsten regression with correlated Panel Corrected Standard Errors (PW-PCSE). The results generally showed that provisioning behavior by Nigerian DMBs is pro-cyclical. This was based on significantly negative coefficients of loans growth (ΔLOAN) and real GDP growth rate (GDPGR) representing bank-specific and macroeconomic loan loss pro-cyclicality respectively. In contrast, loan loss counter-cyclicality was found during global financial crisis against majority evidence in the literature. Meanwhile, loan loss pro-cyclicality was peculiar to Nigerian DMBs during local economic recession. While the loan loss pro-cyclical behaviour of Nigerian DMBs represents imprudent provisioning policies and might have been incidental to the collapse of some Nigerian banks in the past, the counter-cyclicality during global meltdown is traceable to the fact that the crisis had no substantial negative influence on Nigeria’s financial system. To address the problem of pro-cyclicality, it was recommended that bank regulators ensure that macroeconomic prediction models adopted by Nigerian DMBs be made relative perfect. There is also need for strengthening bank capital buffers in record time and conduct of stress tests for individual DMBs rather extant consolidated approach among others.
Bank-Specific Variables and Banks’ Financial Soundness
(Zagreb International Review of Economics & Business, 2021-02-02) Abdulai Agbaje Salami; Uthman Ahmad Bukola; Mubaraq Sanni
This study examines the explanatory power of capital adequacy, asset quality, management soundness, earnings quality, liquidity and sensitivity to market risk (CAMELS) framework as well as a number of other variables on the financial soundness (measured by regulatory capital adequacy ratios) of banks in Nigeria. The findings, using ordinary least squared (OLS) regression subsequent to the establishment of no panel effects among the sampled banks, reveal the significant explanatory potentials of these bank-specific variables though some give a reversal of their prior expectations. Apart from reawakening the investors’ and depositors’ interest, the findings further have policy implications on the regulation and operation of these financial institutions. The study breaks new grounds in the measurement of capital adequacy using gross revenue ratio and leverage ratio, asset quality using in-come statement impairment charges for loan losses, and in the inclusion of the sensitivity to market risk most especially in the Nigerian context.