An Empirical Analysis of the Impact of Globalisation on Performance of Nigerian Commercial Banks in Post-Consolidation Period

The study examined the impact of globalization on performance of Nigerian commercial banks between 2005 and 2010. It specifically determined the effects of policies of foreign private investment, foreign trade and exchange rate on performance of Nigerian banks. The study utilized panel data econometrics in a pooled regression, where time series and cross-sectional observations were combined and estimated. The results of econometric panel regression analysis confirmed that globalization, i.e. foreign private investment, foreign trade and exchange rate have positive effects on the profit after tax of banks but the magnitude of such effects remains indeterminable because we discovered that there are variations in the data for performance of banks understudied. Based on these findings, the study recommends that banks in Nigeria should not relent in their interaction with their foreign counterpart in doing business in order to increase their foreign earnings. Banks should also spend more on information and communication technology since this has the capacity of increasing their profit. This information technology (IT) should be used to localize all the branches to a single branch networking. In spending more on information and communication, they should make use of satellite communication and very small aperture terminal (VSAT) technology and internet banking VSAT technology apart from making possible voice and video banking. We further recommend that more banks should be opened in foreign countries in order to increase foreign participation in home country’s banking

Africa 's Economic Growth in a Globalized World: Restructuring Nigeria 's Trade and Industrial Policy for Nigerian Growth

Globalization has both cost and benefits, but experience have shown that the costs of globalization for Nigeria seem to have outweighed its benefits. Therefore, this study sets out to assess the impact of a globalised world as regards Nigeria's trade and industrial policy on the country 's level of economic growth. The study utilized secondary data from the annual reports and accounts of the Central Bank of Nigeria (CBN) from 1970-2012. The data obtained were analyzed using the Ordinary Least Square (OLS) and the Error Correction Mechanism. The findings of the study show that "free-trade " which came as a result of globalization has not had a positive impact on the Nigerian economy and hence concludes that globalization has done more harm than good to Nigeria. Thus, the study recommends that Nigeria should put in place an industrial policy which should create enabling business environment within the country by providing incentives to manufacturers, ensuring regular and uninterrupted power supply as well as promoting agriculture

Cybercrime Pervasiveness, Consequences, and Sustainable Counter Strategies

As our connectivity and dependency on technology increases, so does our vulnerability. Technology has provided not only new tools, but also new opportunities for criminals in the digital world. The abuse of new technologies has been threatening economic and Jinancial security and actually devastating the lives of affected indivicluals. In Nigeria, cybercrime has recorded mostly foregin-based individuals and organizations as victims thereby getting Nigeria ranked among the nations with notorious pemasiveness of high-tech crimes. Indeed, adequately formulating a strategy to contain the menace of cybercrime presents aformidable challenge to law enforcement. This paper x-rays noted instances of cybercrime pervasiveness, its devastating consequences, and up-to-date countermeasures in Nigeria It develops an enforceable/sustainable framework to determine how critical infrastructures are put at risk snd how law enforcement should react in responding to the threats

Leveraging on Innovation and Technological Entrepreneurship in achieving economic growth in Nigeria

In today's increasingly interconnected and fast-paced world, innovation and technological entrepreneurship have emerged as key drivers of economic growth, fostering job creation, competitiveness, and sustainable development. Nigeria, Africa's largest economy, is poised to leverage these crucial elements to propel its own economic transformation. Technological entrepreneurship has become a critical catalyst for economic growth worldwide. This paper explores the potential of technological entrepreneurship as a key driver to propel Nigeria's economy forward, generate employment opportunities, and foster innovation. The paper highlights the current landscape of technological entrepreneurship in Nigeria and identifies the challenges and barriers hindering techno-entrepreneurship growth in Nigeria. It further describes the various government initiatives as well as key issues, difficulties, and opportunities for growth of technological entrepreneurship in Nigeria. It draws on some global best practices and case studies on technological entrepreneurship to provide valuable insights into successful strategies and approaches that can guide the case of Nigeria. The paper closes with achievable recommendations to policymakers, entrepreneurs and stakeholders’ to harness Nigeria’s technological potential and position it as a prominent player in the global innovation ecosystem

The Impact Of Technology Trust On The Acceptance Of Mobile Banking Technology Within Nigeria

With advancement in the use of information technology seen as a key factor in economic development, developed countries are increasingly reviewing traditional systems, in various sectors such as education, health, transport and finance, and identifying how they may be improved or replaced with automated systems. In this study, the authors examine the role of technology trust in the acceptance of mobile banking in Nigeria as the country attempts to transition into a cashless economy. For Nigeria, like many other countries, its economic growth is linked, at least in part, to its improvement in information technology infrastructure, as well as establishing secure, convenient and reliable payments systems. Utilising the Technology Acceptance Model, this study investigates causal relationships between technology trust and other factors influencing user’s intention to adopt technology; focusing on the impact of seven factors contributing to technology trust. Data from 1725 respondents was analysed using confirmatory factor analysis and the results showed that confidentiality, integrity, authentication, access control, best business practices and non-repudiation significantly influenced technology trust. Technology trust showed a direct significant influence on perceived ease of use and usefulness, a direct influence on intention to use as well as an indirect influence on intention to use through its impact on perceived usefulness and perceived ease of use. Furthermore, perceived ease of use and perceived usefulness showed significant influence on consumer’s intention to adopt the technology. With mobile banking being a key driver of Nigeria’s cashless economy goals, this study provides quantitative knowledge regarding technology trust and adoption behaviour in Nigeria as well as significant insight on areas where policy makers and mobile banking vendors can focus strategies engineered to improve trust in mobile banking and increase user adoption of their technology

OIL AND NON-OIL REVENUE AND THE NIGERIAN ECONOMY

This study examined the effect of the effects of Oil and Non-Oil revenue (ONOR) on the Nigerian economy from the period of 1994 to 2021 (28years). Specifically, the measures of Oil and Non-Oil revenue, namely; Total Oil Revenue (TOR), Total Non-Oil Revenue (TNOR) and Total Revenue (TR) were analysed in relation Nigerian economy proxied Real Gross Domestic Product (RGDP). In a bid to actualize the research objectives, data was collected from the secondary source of data (time series data), from the CBN statistical bulletin and Annual Report for the period 1994-2021’. The data were analysed using descriptive statistics, followed by the correlation analysis in bids to ascertained the co-movement of the measures ONOR {TOR, TNOR and TR} in relation to the Nigerian economy proxied with RGDP and several diagnostics tests conducted in the bids to ascertain if the data are suitable for regression analysis with the aid of E-VIEW version 9. 0. It showed that; TOR with an associated p-value (sig. value) of 0.0000. This implies that TOR has a major significant effect on RGDP; TNOR with an associated p-value (sig. value) of 0.0097. This implies that TOR positively and significantly affects RGDP in Nigeria and TR with an associated p-value (sig. value) of 0.0000 in the multiple regression results. This shows that the impact of TR on RGDP is significant. The results show that the measurements of ONOR {TOR, TNOR and TR} used in this research has significant effects on the RGDP in Nigeria. Therefore, the study came to the conclusion that ONOR have a considerable effect on the expansion of the Nigerian economy. Recommended that improve revenue generation through non-oil operations, it is high time the government looked into the development of the sector which has wider opportunities for growth. This can be achieved through diversification to create more avenues through which the government can generate revenue to meet its financial needs. Keywords:  Oil, Non-Oil, Revenue, Economy and Government

Underdeveloping Nigeria through reregulation: Will community banks survive?

Regulating the financial system through restrictions on foreign exchange, interest rate controls and constraints imposed on financial institutions have been among the principal instruments of financial repression in low-income countries. In recent years, many have taken to deregulation, but mostly in response to donor persuasion and pressure rather than conviction. Unpopular political regimes have found it difficult to get over their initial hardship period which the restructuring of a whole economy and its financial system entails. The Nigerian Government, in a populist gesture, has just succumbed to the temptations of re-regulation. Commercial banks are hard hit. Small farmers and microentrepreneurs are among the first victims --

The State of e-Banking Implementation in Nigeria: A Post-Consolidation Review

The most widely used e-Banking instrument in �igeria is e-Payment, particularly the automatic teller machine (ATM) card. However, with the adoption of e-Banking by all the banks in �igeria, the volume of cash in circulation has continued to increase pre-and-post bank recapitalization/consolidation exercise. Furthermore, some of the 25 banks that survived the exercise were found lately to have depleted their capital base and have lost credibility before the consumers, e-Banking implementation notwithstanding. Therefore, in this paper, we review the state of e-Banking implementation in �igeria and evaluate the influence of trust on the adoption of e-Payment using an extended technology acceptance model (TAM). Similarly, we investigate organizational reputation, perceived risk and perceived trust in the management of banks as a factor for enhancing customer loyalty. The findings in this work reveal that perceived ease of use and perceived usefulness are not only antecedent to ebanking acceptance, they are also factors to retain customers to the use of e-banking system such as organizational reputation, perceived risk and trust

Digital Transaction: A Catalyst for Financial Inclusion and Job Creation

What informed the rationale for developing this topic was the growing number of Point of Sale (POS) Agents in Katsina Metropolis and their clients/customers. The central focus of this article is to examine the role of Agent Banking which is part of financial inclusion in poverty reduction in Katsina metropolis. The researchers adopted a survey research design where data were elicited using quantitative research techniques from the targeted respondents. The data collected were analyzed and presented which revealed that there are at least twenty Post of Sale (POS) outlets located in each major street of Katsina Metropolis. The study also found that the POS has become a veritable source of livelihood for those who are into Agency Banking in the area. Additionally, the availability of POS Agents has influenced a significant population of the metropolis to adopt the use of digital systems of payment in their businesses and other financial transactions. It has revealed that the cashless policy has facilitated or accelerated the growth of digital marketing in the Katsina metropolis, entrepreneurs in the area are now selling their wares online and receiving payment via the same system which has eliminated the barriers created by time and space. The theoretical implication of the cashless policy was the unintended consequences it generated. It is referred to as the Cobra Effect during the 2033 Generation Elections in Nigeria. The decision to redesign the currency and reduce the amount of money in circulation has created more demands for cash hence luring some voters to exchange their votes for cash on election day. The practical implications of the findings of this study are twofold: The cashless policy has encouraged some of the people who are financially excluded were able to open bank accounts. It has enabled marketers to carry out financial transactions online without physical contact between the buyer and seller with the aid of electronic money payment systems