MERGER AND ACQUISITION IN NIGERIA: ANALYSIS OF PERFORMANCE PRE-AND-POST CONSOLIDATION

Abstract The banking reform pronounced on the 6th of July, 2004 had been a major wave towards a diversified, strong and reliable banking sector in Nigeria. This paper examined the mega banks by evaluating their performance four years after the consolidation exercise in Nigeria. It examined the impact of consolidation on performance and considers if there had been considerable improvement on their profitability, liquidity and solvency. In this study, we analyzed the performance ratio of a sample of thirteen (13) mega banks. A descriptive analysis of these performance ratios was carried out. Correlation Analysis was used to test the impact of the consolidation on the performance measurement parameters. We found that, on average, bank consolidation resulted into improved performance. The paper therefore suggests that the bank management should embrace broad product strategies, which could help in generating more income for the banks. They should also embrace diversification and financial innovation in order to produce new products and services. Keywords: Consolidation, Bank reforms, Performance measures, Ratios JEL Classification: G21, G28, G3

Stock Market, Financial Reforms and Economic Growth in Nigeria: An Empirical Analysis

The paper investigates the relationship between stock market and economic growth. It also examines the contribution of the Nigerian Stock market to the real activity before and after the introduction of financial reforms. This paper empirically shows the link between stock market and economic growth. The study covers a period of 32years (1970-2001} using two different regressions. The first regression covers the period 1970- 1985: a period before Structural Adjustment Progrmme (SAP}/ and the second regression covers the period 1986-2001: a period after SAP. The SAP period corresponds with the period when the deregulation of the financial market was in vogue in the Nigerian economy. Ordinary Least Squares Estimation technique is used in analyzing the data. In our study we observe that stock market development significantly correlates with real gross domestic product. This finding suggests tha0 policy measures that improve efficiency of the Nigerian stock market would promote economic growth

Impact of new global trade regimes on retional integration processes in the south

The critical question is how integration and cooperative schemes are they fairing (or are likely to fare) under the "new" global regimes on trade? The Economic Community of West African States (ECOWAS) is our case study for testing our key hypotheses on the challenges and opportunities for the regional integrations schemes in the South against the background of new global trade regimes. We examine the paths taken by countries in West Africa to bring about regional cooperation and integration and ask the question what is the impact of globalization, especially in terms of the pressures of global market forces on integration processes in the South

Capital Market and Economic Development in Nigeria

This paper empirically shows the link between capital market and economic development. The study covers a period of 32 years (1970-?pgj) using two different regressions. The first regression covers the period 1970-1985: a period before Structural Adjustment Programme (SAP), and the second regression covers the period 1986-2001: a period after SAP. Ordinary Least Squares Estimation technique is used in analyzing the data. In our study we observe that stock market development significantly correlates with real gross domestic product. The paper therefore suggests that great effort is required to improve upon the efficiency of the Nigerian capital market to engender a speedy economic development

Determinants Of Creative Accounting

The resurgence of creative accounting has become an issue of concern globally. The conflicts of interest among different interest groups amongst others represent the real causes of creative accounting. This study focused on determinants of creative accounting to determine whether the identified causes such as employees and top management compensation package tied to performance, loophole in GAAP, flexibility in accounting standard, agency rating, shareholders' demand for regular dividend and improved earning, actually encourage creative accounting or that they are a product of intuition that have no empirical basis. The study made use of primary survey data sourced through the administration of questionnaires on 200 respondents using random sampling. Three hypotheses were tested using Chi square test statistic. The three null hypotheses were rejected. The researchers therefore conclude that the identified factors actually correlate with creative accounting. It is recommended amongst others that the policy makers and regulators should ensure the bridging of the gap and loopholes inherent in GAAP and accounting standards. Investing public should also be enlightened to frown at creative accounting under any guise because of its remote consequences on their investments

Stock Market Development in Nigeria: Implications on Economic Growth and Vision 2020

This study uses time series estimates in analyzing the Nigerian economy for 18 years (1986 -2003). It is observed that there is a posttive relationship between real gross domestic investment and the real GDP This relationship is not only positive but also statistically significant at 5 per cent level. A positive and significant relationship also exists between capital market activities (proxy by stock market capitalization) and the real gross domestic product. This implies there is a link between capital market and economic growth. The paper therefore suggests that great effort is required to improve upon the efficiency of the Nigerian capital market. This will culminate in speedy economic growth thereby achieving Nigeria's target of becoming one of the twenty leading economies in the world by the year 2020

Centromeric banding pattern of mitotic chromosomes in Vigna vexillata (TVnu 73)

Vigna vexillata chromosome characterization was carried out using the Leishman C- banding technique. The results showed that the chromosomes mostly exhibited bands at both the centromeric and telomeric regions. These bands will serve, as a valuable marker for the identification of the chromosomes. Chromosomes 2 were the most variable and differed from the other chromosomes by the presence of satellite on the short arm. Diploid chromosome numbers of 22 consisting of 11 pairs of homologues were observed for V. vexillata. The homologues chromosomes were arranged in the descending order. The idiogram representing the chromosomes was also constructed.African Journal of Biotechnology Vol. 4 (5), pp. 400-402, 200

Enrolment and Career Choices of Accounting Students in Nigerian Universities: A Gender Analysis

This study analyzed the trend of gender enrolment and factors influencing career choices of accounting students in Universities in the six-geopolitical zones in Nigeria. It examined the enrolment pattern of accounting students in thirty-six universities from 2004/5 to 2009/10. It also examined the factors influencing career choices using data collected from seven universities through questionnaires. Mann-Whitney U test was used to analyze the data. The results reveal that gap exists in the enrolment of male and female accounting students, with lower female enrolment in the Northern than the Southern zones. Factors influencing career choices of accounting students were found to be job security, job availability and high earnings. It was also discovered that females perceive accounting to be demanding, boring, and mathematical. The researchers recommended among others that Nigerian Government should formulate a comprehensive gender policy for tertiary education in favour of females in Northern Nigeria. It was also recommended that tertiary school teachers should make accounting more interesting for students by using practical and case studies methods

Gender Gap: Enrolment and Career Choices of Accounting Students in Nigerian Universities

This study analysed the trend of gender enrolment and factors influencing the career choices of accounting students in universities in the six geo-political zones in Nigeria. It examined the enrolment pattern of accounting students in 36 universities from 2004/2005 to 2009/2010. It also examined the factors influencing the career choices of undergraduate accounting students using data collected from sampled universities through questionnaires and focus group discussions. The results revealed a gap in enrolment between male and female accounting students, with fewer female students in the northern zones than in the southern zones. Factors influencing career choices of accounting students included job security, job availability and high salaries. It was also discovered that females perceived accounting to be rule-based, boring, stressful and narrow. The researchers recommended among others that the Nigerian Government formulate a comprehensive gender policy for tertiary education in favour of females in the northern part of Nigeria. It was also recommended that tertiary teaching staff should make accounting more interesting for students by using practical and case study methods