SUB-SAHARA AFRICAN JOURNAL OF MANAGEMENT SCIENCE AND ENTREPRENEURSHIP (SJMSE)
Vol 15 (7) MARCH, 2020 ISSN: 2285-3138
Sub-Sahara African Academic Research Publications,
Centre for African Development Studies, University of Ibadan,
P. O. Box 10108, U. I. Post Office. Ibadan Oyo State,
PATRONAGE BEHAVIOUR OF NIGERIANS TOWARDS ISLAMIC BANKING: A DISCRIMINANT ANALYSIS APPROACH
AUGUSTINE OKEKE & AGBO PATRICIA ONYEMOWO
Department of Banking and Finance, University of Jos, Jos, Plateau State – Nigeria
Islamic finance presents a new avenue as a novel alternative to the conventional financial set-up in this country. The purpose of this study is to assess the patronage behaviour of Nigerians towards Islamic banking. The objectives of this study have been met by conducting a survey to elicit the responses from retail customers of both Islamic and non-Islamic banks in the city of Kaduna, North Western Nigeria. The survey was carried out among both Muslims and non-Muslims to find out about the awareness levels, patronage, motivation and perception towards Islamic banking in Nigeria while discriminant analysis was used in studying the difference between the demographic variables of the respondents and perceptions of male and female with regard to the general perception and awareness of Islamic banking and difference between those who practice Islamic methods of finance and those who do not with regard to the general perceptions, awareness and patronage towards Islamic banking. Results indicated that Islamic banking is having low level of awareness among the respondents. However, the attitude towards adoption of Islamic Banking seems encouraging, as reflected in the study. The future directions for this research could be carried out by drawing a cluster across the rest of the country. This may help to understand and get a better and broader perspective of the need for Islamic banking and hence, its prospects in Nigeria.
Keyword: Patronage, Banking, Islamic, Behaviour, Finance, Nigeria
ASSESSMENT OF QUEUING MANAGEMENT SYSTEM ON BANK PERFORMANCE
1UMAR USMAN, PhD, 2FATIMAH INUWA USMAN & 1HALUTA ISHAKU HOSEA
1Department of Management and Information Technology, Faculty of Management Sciences, Abubakar Tafawa Balewa University, Bauchi –Nigeria 2Department of Business Administration, Faculty of Management Sciences, University of Maiduguri Borno- Nigeria.
Queue management provide a firm with a competitive edge in the marketplace, and a good number of customers of most banks continue to complain about the time they spend in the banking hall either to save, withdraw or transact any other official banking services and which affect the bank’s performance. The main objective of this study is assess queuing management system on bank’s performance. The study employed the cross-sectional survey research design using in which questionnaires were administered to the customers of Polaris Bank Plc, Bauchi Branch. A sample size of 338 customers of Polaris Bank Plc was determined from the population of the study using Krejcie and Morgan. The questionnaire was validated using face and content validity approach by expert in the academics and in the banking industry. The validated questionnaire was then administered to the respondents by the researcher using the simple random sampling technique. Out of the 338 questionnaires that were administered, 231(68.3%) were retrieved back and found fit for analysis. The data collected were coded and cleaned using SPSS and analysed using frequencies and percentage, and multiple regression analysis. The results of the study revealed that customer waiting time has a negative effect on bank performance, while customer satisfaction, bank’s promotional activities, and service quality have statistically significant positive impact on bank’s performance. It was therefore recommended that the management of banks should employ more banking staff and train existing bank managers and employees so that the customers will be attended to on time thereby reducing customers waiting time for better bank performance and they should also make provision for banking facilities and train its staff on the general understanding of concepts, current technology, and applications of queuing theory as it relates to customer satisfaction and waiting time.
Keyword: Queuing Management System, Bank Performance
MIGRATION AND UNEMPLOYMENT IN THE CONTEXT OF AFRICA
*PROF. KANU, IKECHUKWU ANTHONY **MIKE BONI BAZZA, PhD & ***OMOJOLA IMMACULATA OLU, PhD
*Department of Philosophy and Religious Studies, Tansian University, Umunya, Anambra State. **Department of History and International Relations, Veritas University Abuja (The Catholic University of Nigeria) ***Department of Business Administration and Management, Villanova Polytechnic, Imesi Ile, Osun State
This paper examines the impact of labour migration-mobility related provisions and unemployment as it affects the African continent and African Union rules on the free movement of workers. Considering the fact that the vision of a united Africa has been part and parcel of the pan-African narrative for decades, it systematically addresses Protocol to the Treaty Establishing the African Economic Community Relating to the Free Movement of Persons, Right of Residence and Right of Establishment as contained in AU Free Movement Protocol adopted in 2018. The paper gives a particular focus on the youth of Africa and the unemployment question, social cohesion and political instability. The paper further poses the following two questions. First, does intra-African Union labour migration correlate with employment/unemployment rates in host or home member states during periods of unsettled growth? Second, how have member states reacted in terms of restricting or allowing access to their labour markets by African Union workers during the transitional periods? The discourse concludes on the premise that some groups, such as young immigrants, women or older immigrants have greater difficulties in finding jobs.
Keywords: Migration, Unemployment, Africa, Social Cohesion, Political Instability
GENDER ISSUE MOTIVATING ENTREPRENEURIAL VENTURE IN ABEOKUTA, NIGERIA
*SAMUEL TAIWO AKINYELE & **ESTHER FEYISAYO AKINYELE
*Dept. of Entrepreneurial Studies, College of Management Sciences, Federal University of Agriculture, Abeokuta, Nigeria **Dept. of Business Administration, School of Postgraduate Studies, Crawford University, Faith City, Igbesa, Ogun State, Nigeria
Women in different nations play equal roles with their men counterparts in economic development through entrepreneurship. The contribution of women to the development of any nation through entrepreneurial activities cannot be overemphasized. A sample of 197 respondents were derived from the population of 390 women entrepreneurs in Abeokuta South Local Government of Ogun State using simple random sampling techniques. One hundred and fifty-two (152) questionnaires were filled and returned. The data was analysed using descriptive and inferential statistics such as regression analysis to test the hypothesis. The results showed that there was a close relationship between market share and business profitability at R =0.104, p-value< 0.01. Also hypothesis two tested showed that human resource has a positive significant relationship on sales revenue as P value (0.000) is less than 0.05. Thus, the null hypothesis was rejected and the alternative was accepted. The study concluded that if gender issues are properly taken care of, women will be motivated to go into any line of business or trade. Unemployed women entrepreneurs should be financed and encouraged to occupy areas like agriculture, services and mining. Furthermore, the study also recommended that women entrepreneurs should be encouraged to be involved in creative work and government should ensure the provision and formulation of an economic policy that will favour the business environment.
Keywords: Business Environment, Development, Entrepreneurs, Government, Unemployed Women.
FOREIGN DIRECT INVESTMENT AND INDUSTRIAL GROWTH: LESSONS FROM NIGERIA-CHINA TRADE RELATIONS
*ADEGOKE BABATUNDE **OKECHUKWU SOLOMON KENE & ***NWACHI TEMPLE OBIOMA
*State Coordinator, National Productivity Centre, Rivers State Office
**Productivity Capacity Building Department, National Productivity Centre, Imo State Office ***Corporate Affairs and Information Department, National Productivity Centre, Imo State Office
The stunning fall in oil prices and the recent slowdown in Nigeria’s economic growth have heightened the calls for sustainable economic development through Foreign Direct Investment (FDI) as an alternative source of investment financing. Unfortunately, the growth effect of FDI in Nigeria has not been sustained as a result of genuinely rooting issues. China has been the second largest recipient of FDI behind India and the most efficient user of FDI in the world which subsequently spurred their growth immeasurably. The need for Nigeria to observe and follow China’s FDI growth pattern becomes pertinent to achieving the desired industrial output growth across all sectors. In examining the underlying ideologies, this paper employed the classical linear regression model (OLS) and found that within the observed period, FDI impacted negatively on industrial output growth in Nigeria. The undesirable relationship between FDI and industrial output growth can be manipulated to benefits if the country makes a significant effort in increasing the FDI inflows into major sectors that have forward and backward linkages. Based on the findings, it recommends that policy reforms should be enacted by the government to ensure proper functioning of the market’s systems such that well-targeted driven foreign investors can be attracted. The government should do more on issues of security and the ease of doing business such that the lost investor’s confidence can be regained.
Keywords: Foreign Direct Investments, Industrial Growth, ARDL, China, Nigeria.
THE IMPACT OF MICROFINANCE BANK ON THE DEVELOPMENT OF ENTREPRENEURSHIP IN BAUCHI LOCAL GOVERNMENT AREA
HAMZA SALIHU UMAR
Department of Banking and Finance, Federal Polytechnic, Bauchi
This research study was carried out with the aim of examining the impact of microfinance bank on entrepreneurial development in Bauchi Local Government Area of Bauchi state. The study adopted a survey research design and a questionnaires was used in collecting data from staff of LAPO microfinance Bank and entrepreneurs in Bauchi metropolis who were selected as respondents for the study using a stratified random sampling technique while applying the Bowley’s proportional allocation method. The statistical tools used in analyzing the data were frequency/percentage analysis and Ordinary Least Squares (OLS) technique of the simple regression analysis. The results of the OLS regression analysis revealed that there was a statistical significant relationship between Entrepreneurial development and Microfinance Bank in Bauchi LGA at 5% level of significance (F0.05(1, 88) = 28.019, P = 0.000). The regression results also revealed that Microfinance Bank has a statistical significant positive impact on Entrepreneurial development in Bauchi LGA at 5% level of significance (β1 = 0.516, P = 0.000). The regression results also revealed that financial challenges/problems were not the only problems/challenges militating against the effective financing of entrepreneurs by Microfinance Bank in Bauchi LGA as there were other non-financial problem/challenges such as the unstable economy and politics in Nigeria (β1= -0.055, P = 0.415). The study however, recommended that sensitization programmes on the functions and activities of microfinance banks should be carried out targeting small scale businessmen and entrepreneurs in Bauchi LGA through public seminars in order to give them proper orientation on the activities of microfinance banks and how they can help improve businesses and microfinance banks should increase the provision of other services other than granting of loans to entrepreneurs such as financial and investments advice, commodity marketing, micro-insurance, and leasing, among other recommendations.
Keywords: Impact, Microfinance, Bank, Development, Entrepreneurship.
IMPACT OF BUDGETARY CONTROL ON BUSINESS ENTERPRISE PERFORMANCE OF HOTELS/GUEST HOUSES IN BIDA METROPOLIS
IBRAHIM ABUBAKAR MIKUGI
Department of Business Administration and Management, the Federal Polytechnic, P.M.B 55 Bida, Niger State.
Most business organizations have fold-up due to lack of liquidity. One of the major means of ensuring liquidity in an organization is to ensure that organizations carry out its activity to ensure that it achieve a level of profitability that will guarantee the continuity of the organization. Hence, the topic: Impact of budgetary control on business enterprises performance of Hotels/Guest Houses in Bida Metropolis. The focus of the investigation is to show why some business organizations fail in their profit objectives and to explain how effective budgetary control has is used to enhance the performance of business organizations. The objective of the research is to examine the impact of budgetary control as instrument for accountability on enterprises net profit margin of business performance, to examine the impact of human factor as managerial commitment and employee’s attitude towards budgetary control enterprises return on investment. The methodology employed by this study include structured questionnaire, primary and secondary data, extensive literature review, stratified sampling method, chi-square and SPSS analytical method. A structured question method was used to elicit information from 140 respondents who were selected from different hotels and guest houses in Bida Metropolis using stratified sampling method. The study revealed that effective budgetary control have a strong and positive impact on the performance of every business organization. Recommendations were made on how budgetary controls as a tool could be used to ensure that performance of business organizations are achieved. One of the major recommendation is that the managers of businesses should put in place instrument that will help to improve the accountability of the employee in the organization such as better understanding of budgetary system and cordial relationship between the employee and the management.
Keywords: budget, budgetary control, business enterprise, profit planning, Performance
ROLE OF FINANCIAL SECTOR IN INDUSTRIAL PERFORMANCE: WHAT HAS CHANGED ABOUT AGRO-ALLIED INDUSTRIES?
ISARINDE TAYE OLUWAYEMI, ASOYA ANDREW NNAMDI & ADEBAYO AKEEM ADEKUNLE
National Productivity Centre
The potentials of financial sector in both developed and developing nations is a crucial sector in evolving and enhancing of major contributing sector to economic growth and the well-being of the people in the light of industrialization, manufacturing, services, agriculture, among others. Despite Nigeria taking lead in almost all the major food and cash crop production in the whole world that numerous products can be extracted from crops by this way Nigeria can feed her growing population and boost her export, this would translate to diversifying the economy by mean of creating alternative sources of income earnings. Hence, the study employed error correction mechanism to examine the role played by the financial sector to the industrial performance in particular the agro-allied industry. Secondary time series data were used and series of tests were performed using E-veiw econometric package. The stability of the data after the diagnoses test revealed that agricultural output has direct relationship with the growth of agro-allied industries which is in line with the a priori expectation that most of the needed raw materials are supplied as the output from agriculture. Consequently, credit finance also recorded positive relationship. Therefore, the findings suggest that credit finance and supporting scheme to agro-enterprise is most pertinent in the development of the sector not forgetting the key role of agriculture in this race.
Keywords: Financial sector, Credit Finance, Economic growth, Agro-Allied industries
PERCEPTION OF COUNCILLORSAND SOCIAL WORKERS ON CHALLENGES OF DOMESTIC GIRLWORKERS IN NIGER STATE: COUNSELLING IMPLICATIONS
Minna Insititute of Technology & Innovation, Minna, Niger State.
It is a fact that domestic girl workers play significant roles in the families, pettytrading and hawking in market places, manufacturing and construction firms in Nigeria and elsewhere. However, they are prevented from enjoying human rights, rights to education, women rights, health care, safety andsome of them are subjected to forced labour, hunger, and torture.This study was aimed at instigating abuse and deficiencies that characterize domestic girl workers as perceived by counsellors and social workers in Kwara and Niger States. Three hypotheses were generated and tested in the study. The population for the study consisted of all the counsellors and social workers in Kwara and Niger States.Stratified random sampling techniques was used to select 400 counsellors and social workers. The study adopted self-developed questionnaire captioned “Perception of Counsellors and Social Workers on Challenges of Domestic Girl Workers”. (PCSWCDW) with a test –retest reliability index of 0.82. Data collected were analysed using descriptive statistics. Hypotheses 1-3 were tested using t-test of independent sample. The findings of the study showed that majority of the counsellorsand social workers indicated positive responses on challenges of domestic girl workers as there were no difference between counsellors and social workers on the basis of gender, location and professional status. The result indicated some of the challenges such as forced labour, infringement of Childs rights, human rights, women rights, torture, hunger, intimidation todelay wages, sexual harassment and premarital pregnancy. Conclusion and recommendations were proffered that counsellors should adopt counselling strategies, techniques and methods, such as; community-based counselling through the media, and rational emotive therapy to enlighten the public on these challenges the need for girl-child education and its dividends such as; self sustainability and national development.
Keywords: Counsellors, Social Workers, Challenges, Domestic Girls Workers, Counselling Implications.
CUSTOMER CARE SERVICE AND GUEST SATISFACTION IN HOTELS IN OBIO AKPOR LOCAL GOVERNMENT AREA, RIVERS STATE
OLLOR, HELEN Y. AND OBONGHA, EMMANUEL O.
Dept. of Hospitality Management and Tourism, University of Port Harcourt
One of the major challenges of Guest Satisfaction in the Hospitality Industry has been poor Customer Care Service culture. The purpose of this study is to investigate the relationship between Customer Care Service and Guest Satisfaction in Hotels in Obio Akpor Local Government Area, (LGA) in Rivers State. The Dimensions used were: Empathy, Attitude and Friendliness and Revisit Intentions and Guest Loyalty as the Measures. The Primary Data was Questionnaire Administration; Textbooks, Academic Journals, and Articles were the Secondary Data. The accessible Population consisted of 10 Hotels in Obio Akpor LGA. A sample size of 81 was used from a population of 100 Questionnaire distributed. The response was analyzed using Frequency Distribution Method and Percentage Standard. Spearman Rank Order Correlation Coefficient was used. It was concluded that there was a positive relationship between Customer Care Service and Guest Satisfaction in the Hotels in Obio Akpor LGA in Rivers State. The researchers recommended that Hotel Owners / Managers should hire qualified Personnel for the job and consciously train employees on how customer care service could be ascertained. Employees should effectively delivery good Customer Care Services to Customers Efficiently.
Keywords: Customer, Care, Service, Guest, Satisfaction, Empathy, Attitude, Friendliness, Guest Loyalty
EVALUATING THE EFFECTIVENESS OF RECORD KEEPING SYSTEM IN MICRO SCALE ENTERPRISES (A CASE STUDY OF MICRO BUSINESSES IN BAUCHI METROPOLIS)
JAMILU MOHAMMED DANKOLI
Department of accountancy and taxation, Abubabakar tatari ali polytechnic Bauchi bauchi state
Accounting record keeping system is of no doubt, very vital to the survival of any micro business in Nigeria. This is because it provides an avenue for recording, classifying, analyzing and communicating data on economic events and contractual obligations between the business and its external environment. Notwithstanding, micro business in Nigeria are characterized with poor accounting standards among others. Many of such businesses do not keep proper records of accounts, which in turn prove to be difficult in assessing the performance of their operations. This study examines the effect of some factors on the behavior of small business owners towards proper record keeping. Decision usefulness theory (DUT) was used to form the conceptual model with three variables. The study was conducted among micro and small businesses in Bauchi metropolis, Nigeria. Simple random sampling method was used with a total valid 209 respondents which involve the owners/managers of micro and small scale businesses in Bauchi metropolis, Bauchi state, Nigeria. The results of the multiple regression analysis revealed that Non-Challant Attitude (NCA) significantly and negatively affect the way and manner in which micro and small scale business owners maintain their proper record keeping (PRK). While Knowledge of Accounting Information (KAI) and Low-Skill Accounting Staff (LAS) have significant correlation with the way micro and small business owners maintain their proper record keeping (PRK) system. This study will help business owners/owners to make relevant adjustments regarding their record keeping system to make it more effective in the economy.
Keywords: record keeping, double entry, accounting information.
MACROECONOMIC FACTORS AND THE PRODUCTIVITY OF MANUFACTURING SECTOR IN NIGERIA
*DR (MRS) TITILOLA OSHATI *AJUNWA FELIX OGECHI & **MOSHOOD ABDULRAHIM
*Productivity Capacity Building (PCB) Department, National Productivity Centre, Headquarters, Abuja **Consultancy and Business Development (CBD) Department, National Productivity Centre, Headquarters, Abuja
The achievement of sustainable economic growth in furtherance of economic development is the major aim of policy makers in various countries as this affects positively on the citizenry. This paper examined the impact of the changes in the macroeconomic factors on the productivity of the manufacturing sector in Nigeria from 1986 to 2015. Secondary data was extracted from the Central Bank of Nigeria 2015 Statistical Bulletin on the various variables of interest which included Gross Domestic Product (GDP), unemployment rate, inflation rate, exchange rate, interest rate and manufacturing output. A preliminary evaluation of the data was conducted using both descriptive statistics and stationarity evaluation. The test indicated that all the variables are not normal. The occurrence of mixed order integration at level and first difference necessitated the deployment of the Autoregressive Distributed Lag (ARDL) technique as the estimation tool. The Generalized least Squares regression was deployed based on the result of the Hausman test which pointed to the direction of long-run connection amongst the variables. The follow-up check of short-run error correction mechanism discovered a 45 present disequilibrium adjustment. The result findings revealed that inflation and exchange rate contributed positively to manufacturing output in the long run. The influence of the rates of interest rate and unemployment were also positive in the short run but had negative impact in the long run. Also, the relationship between manufacturing output and GDP was positively and significant at 1 percent level. The results showed that manufacturing was a veritable engine of economic growth. In order to check the validity and robustness of the estimation model, the Ramsey RESET test; Cross dependence test; Autocorrelation test and Heteroscedasticity tests were conducted. The tests showed no presence of serial correlation but of heteroscedasticity which although makes the model inefficient but estimator is still unbiased. The study recommended the harmonization of both fiscal and monetary policies for the attainment of macroeconomic stability.
Keywords: exchange rate, Gross Domestic Product, inflation rate, interest rate, manufacturing productivity, Unemployment rate.
STRATEGIC OUTSOURCING AND ITS INFLUENCE ON ORGANIZATIONAL PERFORMANCE: EVIDENCE FROM NIGERIAN BANKS.
*ODEBIYI, ITUNU I; **FOLORUNSO, O.O; ** AREMU ATINUKE B
*Department of Business Administration and Management, Federal Polytechnic, Bida, Nigeria **Department of Business Administration and Management Studies, the Polytechnic, Ibadan, Nigeria.
Banking sector performs a pivotal role in capital formation, which is essential for the economic development of a country. However, the sector in Nigeria have been experiencing cut-throat competition from both local and multinational banks. This has necessitated the adoption of various strategies such as outsourcing to increase their efficiency and remain competitive. This study therefore investigates the effect of strategic outsourcing on the performance of Nigerian banks with specific reference to the selected banks in Osogbo metropolis. Specifically, the study determines the extent of strategic outsourcing by Nigerian banks, examines the effect of strategic outsourcing on deposit mobilization of Nigerian banks, examines the effect of strategic outsourcing on bank’s profitability in Nigerian banks and identifies the challenges of outsourcing strategy faced by Nigerian banks. Survey research design was adopted in the study among 100 staff members of selected banks in Osogbo metropolis, Osun State. Data analysis was performed with the aid of simple percentage, mean and Ordinary Least Square (OLS). Result reveals that security services, catering services, advertising and marketing, recruitment services and training of employee services are fully sourced by Nigerian banks. Result further reveals that strategic outsourcing has significant effect on deposit mobilization (F = 139.254; β = 0.766; t = 11.801; P < 0.005) and banks’ profit level (F = 49.776; β = 0.580; t = 7.055; P < 0.005) respectively. Result also indicates that risk of exposing confidential data, fear of losing management control, security risks, inability to develop clear objectives, share financial burdens, reduce quality control, company’s attachment to its brand and processes and lack of top management support are the major challenges confronting the implementation of strategic outsourcing in Nigerian banks. Subsequently, the study recommends that management should use outsourcing as a strategic tool to free up the company’s resources so as to focus on its core competencies and banks that outsource should continue to monitor the contractor’s activities and establish constant communication.
Keywords: Strategic, Outsourcing, Bank, Profitability, Deposit Mobilization, NDIC, CBN
YOUTH A CATALIST FOR ENTREPRENEURIAL DEVELOPMENT IN NIGERIA
OLOYEDE KEHINDE ARO & OKONOFUA S.A, OGA
Marketing Department, Auchi Polytechnic, Auchi, Edo State.
The paper examines the youth a catalyst for entrepreneurial development in Nigeria by considering what need to be done in Nigeria to provide youth with the opportunity to become entrepreneurs and leaders in their various communities. So that social economic and political upheavals which have often stunted the growth and development of Nigeria can be things of the past. The youth should be encouraged into assuming position of authority and leadership because there is nothing that can surpass the effectiveness of an on the job training. often times those in leadership authorities do not see youth as qualified to take challenging roles whether in or out of government by so doing, there is needs to be constant reaching out to young people and as involvement in whatever concerns then. The government, its agencies, nongovernmental organizations and corporate institutions should be seen as showing interest in the affairs of the youth. Policies that will incorporate the youth as partners in progress should always be initiated adopted and supported. There should be a continuous inflow of ideas between these bodies and the youth. These could be done by involving the youth in corporate workshops, seminars lectures, road shows, training etc.
Keywords: Youth, Catalist, Entrepreneurial, Development, Economics
MARKET ORIENTATION AS A VERITABLE TOOL FOR ORGANIZATIONAL PERFORMANCE: AN EMPIRICAL INVESTIGATION OF NIGERIAN INSURANCE INDUSTRY
*UNACHUKWU, J. C; **LADOKUN, I.O; ***ADESOLA, M.A
*Department of Insurance, Federal Polytechnic, Offa, Kwara State, Nigeria **Department of Marketing, The Polytechnic, Ibadan, Nigeria. ***Department of Business Administration & Management, Osun State Polytechnic, Iree, Nigeria
This study examines the influence of market orientation on organizational performance with specific reference to Nigerian insurance sector. The study adopted survey research design, while structured questionnaires were employed to collect data from the respondents. Data were analyzed with the aid of mean, correlation and ordinary lead square method of estimation. The result reveals that market orientation is significantly associated with customer satisfaction (r = 0.579; P < 0.05) and profitability (r = 0.234; P < 0.05). This indicates that market-driven oriented organization is bound to succeed in a cut-throat global competitive environment. The study further reveals that market orientation has significant influence on organizational performance, measured by customer satisfaction and profitability. Therefore, Nigerian insurance industry need to be market-driven oriented in order to be the sector of choice among emerging markets, noted for high market capacity, transparency, efficiency and safety by 2030.
Keywords: Market orientation, Organizational performance, Customer satisfaction, profitability, Insurance.
THE IMPACT OF MANDATORY AUDITOR-FIRM ROTATION ON AUDITOR INDEPENDENCE, AUDIT QUAITY AND AUDIT COST
*FARAYOLA AYO ADE *ALHAJI KAWUGANA **FARUNA SIMON FARUNA
*Federal Polytechnic P.M.B 0231 Bauchi, Bauchi **First Bank of Nigeria Bauchi Branch
The purpose of this study is to examine the Audit Firm Rotation and Audit Quality Evidence from Nigeria Deposit Money Banks. The main objective of the study is to examine the extent audit firm rotation significantly affects audit quality, and to determine the relationship between company size and audit quality and Investigate how audit fees affects audit quality. This study intended to assess the applicability of the mandatory auditor rotation concept in the Nigerian bank sector so as to enhance and improve audit quality, from the findings of both the literature as well as the field survey, it was discovered that audit firm rotation significantly affect audit quality. The research design used for this study is both quantitative and qualitative. The study area is Deposit Money Banks in Nigeria. The population of this research study comprises of all Out of the twenty banks insured by Nigeria Deposit Insurance Corporation as at 2011, fifteen banks were purposively selected for the study. It was concluded that rotation is a good solution to enhance and maintain the auditor independence by decreasing the audit firm’s dependence on the client. Recommendations were made amongst others that the auditor should be remunerated on the basis of work experience, qualification, duration of the audit assignment, and background profile and regulatory bodies e.g. CBN, FIRS should help make laws that will reduce audit firm rotation and help improve audit quality, the Central Bank of Nigeria should think of other ways to address concern about audit quality.
Keywords: Audit Firm Rotation, Audit Quality, Auditor Independence, Central Bank of Nigeria, FIRS
RELATIONSHIP BETWEEN WORK-LIFE BALANCE AND EMPLOYEES PERFORMANCE
NDIFE, CHINELO FRANCA (Ph.D)
Department of Business Administration, Federal Polytechnic Oko, Anambra State, Nigeria
This research was a survey which elicited opinions of staff of selected private schools in Anambra State, Nigeria. The simple random sampling method was used to obtain the sample units. The study selected at random 500 teachers from 25 selected private schools in Anambra State. The convenience sampling method was used to select the school due to ease in accessing them. The simple random sampling method was then used to obtain the sample units. The primary source of data sourced was used in the study. The Spearman’s rank correlation was used in testing the required hypotheses at 5% level of significance. The results revealed a significant positive relationship between work-life balance and employees’ timely and effective decision making. It was also found that work-life balance has significant positive relationship with employees’ problem solving skills. The result also shows that there is no significant relationship between work-life balance and employees’ productivity. These lead to the conclusion that not all aspects of employees’ performance have significant relationship with work-life balance. Based on the findings in this study, it is recommended that organizations, private schools in particular should strike a work-life balance for improved decision making, productivity and problem solving skills. Organizations should also create a robust and flexible working routines so that employees can have time to attend to family and other non-job tasks.
Keywords: work-life, decision making, performance, employees’ productivity
IMPACT OF REMUNERATION ON JOB PERFORMANCE IN FEDERAL INLAND REVENUE SERVICES, MAIDUGURI OFFICE
ALHAJI LAWAN KAWI1 BABAGANA MOHAMMED2 & MARYAM KYARI KANAMI3
1&2Public Administration Department Ramat Polytechnic Maiduguri 3Liberal Studies Department Ramat Polytechnic Maiduguri
The study stands to examine the impact of remuneration on job performance in federal inland revenue services, Maiduguri office. the review relevant literature as its relate to the study. expectancy theory of motivation is adopted as a theoretical for the study. By the way of methodology, the researcher uses survey method of data collection through the instrument of questionnaire administered to the target respondents. The sample size of the study is (114) out of the total population of (160) while (104) questionnaire returned as valid. The sampling technique is multi stage sampling which incorporate both simple random and stratify sampling technique. From the study, it is concluded the impact of remuneration on job performance in Federal Inland Revenue Services, Maiduguri Office Borno state. this shows that, employees are not satisfied with greater pay package and employees’ performance are not directly related. Based on the findings of this study, it is recommended that the employees should be adequately compensated to enhance their performance. The Board should pay enough fringe benefits to the employees so that they can satisfy their needs and put in their best toward the achievement of the set goal.
Keywords: Remuneration, Job Performance
THE ROLE OF A SECRETARY IN COMPANY MANAGEMENT
MUHAMMAD SANI, ESQ.
Department of Business Administration and Management, School of Business Studies, the Federal Polytechnic, Bauchi.
The position of a Company Secretary has developed with company practice in Nigeria from a mere servant whose functions ware prima facie clerical and ministerial only to that which is equivalent to that of a director in the company with extensive powers and responsibilities. This appears not only in modern companies Act, but also by the role which he plays in the day to day business of the company.
Keywords: Role, Secretary, Private, Public, Company, Management,
ENVIRONMENTAL ACCOUNTING DISCLOSURE AND ORGANIZATIONAL PERFORMANCE: LESSON FROM FOOD AND BEVERAGE COMPANIES IN NIGERIA
*FASESIN OLADIPO . O, **ADEYIMI, A.Z, ***OYEDELE, OLORUNTOBA
*Department of Accountancy, Osun State Polytechnic, Iree, Nigeria **Department of Accounting, Osun State University, Okuku Campus, Nigeria ***Department of Accounting and Finance, Kwara State University, Ilorin, Nigeria
This study examined that influence of environmental accounting disclosure on the performance of food and beverages companies. Purposive sampling technique was sued to select 5 staff members each from accounting unit of the 18 selected food and beverage companies totaling 90 participants as a sample size for the study. A structured questionnaire was employed to collect data and analysis was performed with the aid of mean and least square method of estimation. The results revealed that environmental accounting disclosure has positive but insignificant influence on organizational performance. It was also revealed that most of the companies always financially accounted for energy consumption, while land pollution, air pollution, and recycling are neglected. More also, it was confirmed that many companies claimed that they disclose environmental information when there is good news, via annual financial report. The study concluded that environmental accounting disclosure is a veritable tool for organizational performance. Consequently, the study recommended that management of food and beverages companies in Nigeria should sustain and enhance environmental accounting disclosure since it has a predictive ability to forecast organizational performance.
Keywords: Environmental Accounting, Performance, Food and Beverage, Pollution, Information
IMPACT OF INTERNATIONAL OIL PRICE ON NIGERIAN MACROECONOMIC VARIABLES FROM 1990-2017
BEKESUOYEIBO REBECCA & ESEMOKUMO PEREWAREBO AKPOS
Department of Statistics, School of Applied Science, Federal Polytechnic Ekewe, Yenagoa, Bayelsa State, Nigeria
This study was aimed at using multiple regression technique to analyze the effect of oil price on the Nigerian macroeconomic variables from 1990 to 2017. In a bid to achieve the objectives of this study, five null and alternative hypotheses were formulated to guide the study. The statistical technique discussed in this study was used to justify the hypotheses. The diagnostic tests showed that there is no presence of multicollinearity symptoms among the explanatory variables and there is no presence of serial correlation in the residuals. The result from the diagnostic tests also showed that heteroscedasticity does not exist in the data, and the error term is normally distributed. The empirical results emanating from the analysis indicated that Nigerian macroeconomic variables (inflation rate, exchange rate, RGDP, unemployment rate, interest rate) jointly have significant effect on the oil price during the year under study. Testing if international oil price has effect on each of the Nigerian macroeconomic variables revealed that exchange rate and interest rate have significant but inverse effect on oil price, while inflation rate and RGDP have no significant effect on oil price. Again, only unemployment rate has a direct significant effect on oil price. The coefficient of determination (R2), which indicates the proportion in oil price that is explained by Nigerian macroeconomic variables turned out with a percentage of 82.9% showing that there is a strong relationship between the international oil price variable and the Nigerian macroeconomic variables. This result entails that 82.9% (percent) variation in the value of international oil price is explained by a change in the macroeconomic variables.
Key words: International oil price, Macroeconomic variables, Coefficient of Determination, diagnostic test, Multiple regression
EMPIRICAL ANALYSIS ON THE IMPACT OF MONETARY POLICY ON ECONOMIC GROWTH OF NIGERIA (1980-2018)
*EZE IFEANYI SYLVANUS **OGBONNAYA PRINCESS ONYEKACHI AND *ELOM SAMPSON OMENA (Ph.D)
*Department of Social Sciences, Akanu Ibiam Federal Polytechnic, Unwana-Afikpo, Ebonyi State, Nigeria **Department of Languages, Akanu Ibiam Federal Polytechnic, Unwana-Afikpo, Ebonyi State, Nigeria
This research work examines the impact of monetary policy on economic growth of Nigeria, covering the period of 1980 – 2018. The objectives includes to establish the causality relationship between monetary policy and economic growth and to examine the relationship between monetary instruments and Real Gross Domestic Product (RGDP). Time series secondary data was collected and the research employed descriptive and ex-post-facto research design. The augmented Dickey Fuller unit root test, Johansen’s Cointegration Test and Vector Error Correction was used for the analysis. The results shows that 1% increase in money supply leads to 0.40% increase in RGDP in long run and 0.88% increase in RGDP in short run. 1% increase in the interest rate 1% increase in the interest rate leads to a 6.7% increase in RGDP in the long run and 0.62% decrease in RGDP in short run. A 1% increase in inflation rate leads to a 4.57% decrease in RGDP in long run and 1.05% increase in RGDP on average in short run. The research recommend that government should avoid tight monetary policy to make fund available for expansion of real sectors, government should also set marketing board so as to control market price of commodities, government should introduce a routine check to ensure that monetary policies are executed in all financial institutions.
Key words: Gross Domestic Product, Interest Rate, Exchange Rate, Inflation Rate and Money Supply
LANGUAGE AND ENTREPRENEURSHIP: THE CREATIVE BRANDING AND SLOGANS OF NIGERIAN COSMETIC PRODUCTS
ADEDEJI, I. ADETOKUNBO
Department of English, Emmanuel Alayande College of Education, Oyo
Language and identity has become an issue that cannot be over-emphasized in a social milieu that is dotted by people of diverse cultures. This study therefore investigated entrepreneurship and creative branding with respect to some business names and slogans, especially cosmetic products. The need to be different and unique becomes paramount in the world market where survival strategy is the hallmark of every business enterprise, more so the upcoming small-scale businesses owned by individuals and groups. Sixty Cosmetic products were used. They were drawn from 210 recommendations by a class of 300 level undergraduates studying English, 42 in number, purposively selected in Ekiti State University, Emmanuel Alayande College of Education (EACOED), Oyo affiliate. A self-designed questionnaire was used, an aspect being a close type and the other being an open ended type in the collection of data. The grammatical category of the brand names/slogans was focused and this constituted the data for the study. Qualitative assessment was adopted through simple percentage. The study relied on theories of entrepreneurship and systemic functional grammar with a view to establishing the relationship between the concept and branding, using descriptive analysis. It was discovered that apart from the pragmatic essence of branding, the use of nominal and epithet (at the phrasal level) for affectivity dominated linguistic forms in cosmetics advertising. The study then concluded that the varied branding system and the slogans constituted a viable field of exploration in discourse pragmatics and recommended that more attention should be given to other areas of entrepreneurship as a field of social practice for language enrichment and for negotiating peace through affective deictic choices.
Key words: entrepreneurship, brand-name, slogan, creativity, trade-mark
IMPACT OF EFFECTIVE INTERNAL CONTROL SYSTEM ON FINANCIAL ACCOUNTABILITY IN TERTIARY INSTITUTIONS IN BAUCHI STATE-NIGERIA.
Department of Accountancy School of Management Studies ATAP, Bauchi
Internal control system is the process by which an organization governs its activities for effective and efficient operation, reliability of financial accountability and compliance with applicable law and regulation. It is important to appreciate the fact that for Tertiary Educational Institutions (private or public) to achieve its desired objectives effectively, the management of such tertiary educational institution must establish a sound internal control system that lead to an effective internal audit unit which would be able to furnish the management of the institutions with necessary analyses, appraisals, and recommendations for onward decision making. Thus, the study examined the effectiveness of internal control system on financial accountability of tertiary educational institution in Bauchi state-Nigeria. The study provides empirical evidence on the essential factors that contribute on sound internal control system as well as causes and consequences of a weak internal control system on tertiary educational institutions. Data obtained was coded and analyzed using frequency table and percentage, more so, non-parametric statistical test, Chi-square was used to test the formulated hypothesis using STATA 10 data analysis package. The study found out that: internal audit units of tertiary educational institutions in Bauchi State are ineffective because they lack independence, insufficient internal audit staff, which led to ineffective of internal control system. Components of internal control system of tertiary educational institutions in Bauchi State-Nigeria are not properly put in place especially in the area of authorization, approval, and supervision, segregation of duties and personnel control. It is recommended that management of TEIs in Bauchi State should ensure that all the features of effective internal audit unit like audit structure and resources, internal audit approach and audit plan are properly put in place, sound and effective, this will lead to effective internal control.
Keywords: internal control system, effectiveness, tertiary institutions, financial accountability, efficiency, reliability, compliance.
IDEOLOGY OF MARKETING PLANNING AND ECONOMIC DEVELOPMENT: PARADIGM OF ENHANCING NIGERIA STEEL COMPANY’S PRODUCTIVITY
OGAH, AROME VICTOR, OLOWE. TEMITOPE SUNDAY & MEDAYESE, OLANIKE OLAYINKA
Department of Marketing, Federal Polytechnic, Ado-Ekiti, Ekiti State
The study examined the effect of marketing planning on economic development: Paradigm of Nigeria steel company’s productivity. This study lay emphasis on Ajaokuta steel company, Kogi State. The specific objectives of the study were to examine the effect of personal management, availability of raw material and Nigeria stakeholders on Ajaokuta steel company productivity. The study adopted survey research design. Data used in this study were collected through primary and secondary sources. The population of the study was 257 staff comprised of Management and administrative staff of Ajaokuta steel company, Stratified sampling technique was used to select sample of 135 respondents for the study. Content validity was used to determine the validity of the instrument by giving to research experts who modified and made the necessary correction to measure the instrument 5 -point likert scale option structured questionnaire was used. Content validity was used to determine the validity of the instrument by giving to research experts who modified and made the necessary correction to measure the instrument.. Simple linear Regression Analyses was used to test the hypotheses. Three hypotheses were tested in line with the objectives of the study and it was revealed that there was significant relationship between personal management, availability of raw material and Nigeria stakeholder on Ajaokuta steel company productivity. The study suggested some recommendations as follows: The federal government should develop and ameliorate the mode of improving personnel management to enhance Ajaokuta steel company productivity, Nigerian stakeholder should be focus in exhibiting true democracy in governance and shun tribal sentiment to improve Ajaokuta steel company productivity.
Keywords: Marketing planning, Economic development, Steel Company, Productivity, Governance
EFFECT OF ENTREPRENEURIAL EDUCATION ON SELF EMPLOYMENT GENERATION IN KADUNA METROPOLIS
HELEN AFANG ANDOW Ph.D
Department of Business Administration, Kaduna State University, Kaduna, Kaduna State.
This study determines the effect of entrepreneurial education on self-employment generation in Kaduna Metropolis. The study adopted correlation survey design and the population consists of all citizens 96 trained in Kaduna state university entrepreneurship research and development Centre in Kaduna. Primary data was collected through copies of structured questionnaire. Data collected for this study were analyzed quantitatively using descriptive and regression statistical tools to test the hypothesis. The study revealed that Acquired vocational skills have no significant effect on self-employment, Government employment training programme does not significantly lead to self-employment and Acquired managerial skills do not significantly lead to self-employment. Thus, the study concludes that entrepreneurial education enhances self-employment. Based on the findings of the study, the study recommends that the government should create ways on which to motivate and promotes skills development and acquisition and develop a culture of openness and trust so that budding entrepreneurs can give their ideas and opinions for the entrepreneurial success also, training systems should be orientated to creativity as well. Much more, the importance of creativity should be understood in business sector as well as in government institutions, because government has the exceptional power to trigger the changes in business environment.
Keywords: Self-Employment; Entrepreneurial Education; Vocational Skills; Managerial Skills; Business Environment.
ASSESSMENT OF FEDERAL AND STATE GOVERNMENT PARTICIPATION IN THE FINANCING AND PROMOTING OF SMALL AND MEDIUM ENTERPRISES IN KADUNA METROPOLIS, NIGERIA
*ESTHER YIMI BAGOBIRI (Ph.D) & **NASAMU GAMBO (Ph.D)
*Department of Business Administration, Kaduna State University, Kaduna, State, Nigeria. **Department of Business Administration, Federal University Wukari, Taraba State.
This study assesses the role of government in financing and promoting small scale business organizations in Kaduna Metropolis, Nigeria. Survey and correlational research design were adopted for the study. Secondary and primary data through Questionnaires were obtained from purposively selected SMEs. Regression analysis and analysis of variance (ANOVA) method were employed in the study. The outcomes show that there is a positive connection between role of government and small-scale business organizations advancement and government plays a significant role on small scale business organizations in Nigeria through their different activities. The investigation recommends among others that government ought to compel banks to put aside certain level of their credit disbursement for loaning to small business organizations and consistently consider the size of the business and profit produced when imposing tax on them. Promoting small and medium scale ventures as a strategy for economic improvement and development has consistently been a significant issue in the development approaches.
Keywords: Institutional Financing; Small and Medium Scale Enterprises (SMEs); Industrial Development.
EFFECT OF FINANCING DECISION ON THE PERFORMANCE OF LISTED CEMENT FIRMS IN NIGERIA
ZAINAB DABO Ph.D
Department of Business Administration, Kaduna State University, Kaduna, Kaduna State.
This study examines the influence of financing decisions on the performance of listed cement companies in Nigeria. This study adopted a correlational research plan because it establishes the relationship between the variables in the study. A correlational research design was adopted for the study. Data collection templates were used to collect secondary data from published accounts for the firms for both the dependent and independent variables. The multiple regression model was used in establishing whether the dependent variable, performance is affected by the independent variable, financial decision. The study found that WCD has a significant impact on the ROA, DD has a significant impact on the ROA and ID has a strong significant impact on the ROA. Based on the findings the study concludes that financial decision has a positive impact on the ROA of listed cement firms in Nigeria. Based on the findings and conclusion, the research recommends that listed cement firms can consider focusing on working capital decisions that support a balance between current assets and current liabilities or those that support more current asset to liabilities in order to record improved returns on assets and have investment decision that supports investment in fixed assets such as property, plant and machinery in order to enhance their returns on assets.
Keywords: Return on Assets; Dividend Policy; Working Capital; Financial Decision; Financial Performance.
EFFECT OF SERVICE QUALITY MANAGEMENT ON CUSTOMER SATISFACTION IN STANBIC IBTC KADUNA METROPOLIS
ESTHER YIMI BAGOBIRI (Ph.D)
Department of Business Administration, Kaduna State University, Kaduna, State, Nigeria.
This study is to assess the effect of service quality management on customer satisfaction in Stanbic IBTC Kaduna metropolis. Correlational survey research design has been adopted for the purposes of this study. Data was collected from 200 purposively selected customers through copies of the administered questionnaire. The data collected was analysed using both descriptive and simple regression analysis. In order to cleanse the data and improve the validity and reliability of inferences from results, Autocorrelation test – Durbin Watson (D.W) and Multicollinearity test Using Variance Inflation Factor and Tolerance Value were conducted. The study found that there is significant relationship between tangibility and customer satisfaction in Stanbic IBTC Kaduna metropolis; there is significant relationship between service reliability and customer satisfaction in Stanbic IBTC Kaduna metropolis; there is no significant relationship between responsiveness and customer satisfaction in Stanbic IBTC Kaduna metropolis; there is no significant relationship between assurance and customer satisfaction in Stanbic IBTC Kaduna metropolis and there is significant relationship between empathy and customer satisfaction in Stanbic IBTC Kaduna metropolis. Therefore, the study concludes that service quality has significant and positive impact on customers satisfaction. Based on the findings, the researcher recommends that in the long run, entrepreneurs should focus on all the competencies for better future performance and extension of the customer satisfaction initiatives that tend to solely focus on increase deposit.
Keywords: Service Quality Management; Customer Satisfaction; Assurance; Empathy; Tangibility.
EFFECTS OF TECHNOLOGY INNOVATION ON FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN NIGERIA
NASAMU GAMBO (Ph.D)
Department of Business Administration, Federal University Wukari, Taraba State.
This study examines the effect of banking innovations on financial performance of listed commercial banks in Nigeria. This study adopted correlational research design, Secondary data was collected from all listed Commercial Banks in Nigeria between the period 2008 to 2019. The data was extracted from the annual reports of the listed Commercial Banks in Nigeria. Correlation analysis used to measure the relationship between variable. Specifically, the researcher used multiple regression analysis to establish if the relationship between the independent variable and the dependent variables. The study found that ATM has a significant impact on the FP, IB has a significant impact on the FP and MB has a strong significant impact on the FP. Based on the findings the study concludes that technology innovation has a positive impact on the financial performance of listed Commercial Banks in Nigeria. Based on the foregoing findings and conclusions, the research recommends that Commercial Banks managers and government should properly adopt strategy that will encourage businessmen and general public in using automated teller machine which will improve effectiveness and efficiency of the banking sector and therefore financial deepening and Internet banking should easily accessible by customers, so that quick service and convenience is maintained hence improving financial deepening. At the same time constantly serviced in order to provide reliability of the services.
Keywords: Financial Performance; Technology innovation; Internet Banking; Mobile Banking; ATMs.
AN ASSESSMENT OF THE LEVEL(S) OF CONTRIBUTIONS OF THE AVAILABLE SOURCES OF FINANCING IN THE FCT AREA COUNCILS, ABUJA
MAIDOKI, P.B.* & SARKA, S.W.**
*Department of Public Administration, University of Abuja, Abuja, Nigeria. **Department of Public Administration, National Open University of Nigeria, Abuja.
One of the indicators of development of a Country is the extent of its development at grassroots. Against this backdrop, this paper examined the performance of local government financing sources in the three Area Councils (Abaji, Bwari and Gwagwalada) of the FCT, Abuja. Specifically, it examined the level(s) of contribution of the available sources of finance. The study used both primary and secondary data, and is anchored on the theory of revenues exaction. It adopted a survey design method with its primary data obtained by the use of structured questionnaire and field observation. The secondary data was obtained from the records of the selected Area councils (2009-2013), books, official gazettes and periodicals among others. The primary data was analyzed with the help of Ms Excel and SPSS software; Kruskal-Wallis H-test statistics was employed in testing the hypothesis. The study reveals that there was low contribution of internal sources of financing, poor accounting records and the non-viability and enforceability of some revenue sources resulting in over reliance on external sources. To this end, the study recommends for intensive approach towards exploring more internal revenue sources via diversification of the local economy/revenue base away from oil exports, and extant disciplinary measures be enforced strictly to stamp out indiscipline. Furthermore, local government’s financial autonomy should be ensured in order to avoid unnecessary interference by higher tiers. Appropriate forum be formed to involve all stake holders in the plan process of the rural development projects.
Keywords: Local Government, Financing Sources, Contribution, Development, Rural Development.