Risk Governance and Cybercrime: The Hierarchical Regression Approach

This study examines the impact of risk governance on cybercrime of selected listed firms in the Nigerian financial institutions. To achieve this, a sample size of 50 listed companies from the Nigerian financial sector was selected for the years 2013-2017, resulting in 250 observations. The study employed the use of hierarchical regression analysis to test the impact of risk governance variables (Chief Risk Officer_centrality, Enterprise Risk Management_index, Chief Risk Officer_presence, Board Risk Committee_size, Board Risk Committee_activism, and Board Risk Committee_inde-pendence) and other control variables such as corporate governance variables (Board Size and Board of Directors_independence) and firm characteristics variables (Firm size and firm age) on cybercrime. The study observed from the findings that almost all the explanatory variables present a positive and significant relationship with cybercrime, except the Chief Risk Officer_presence, firm age and Board Risk Committee_size which revealed an insignificant relationship with cybercrime. The study concludes that risk governance variables and other variables are likely to reduce and minimize the impact of cybercrime on the sampled firms used in this study

Does International Financial Reporting Standards (IFRS) Impact Profitability Ratios of Listed Banks in Nigeria?

This study provides an empirical analysis of the impact of IFRS on profitability ratios of eleven (11) banks in Nigeria. The study addresses the research hypotheses by comparing the key profitability ratios computed under the Pre-IFRS for three year period from 2009-2011 and three year period from 2013-2015 under the Post-IFRS regime. The study used Wilcoxon Signed Rank test and Normality test as a statistical method to analyze the data. The findings revealed that IFRS adoption has not produced any meaningful impact on the profitability ratios (PAT-EBIT, NPM, and OPM) at 5% level of significance. The finding implies that the adoption of IFRS does not have significant effects on profitability ratios of listed banks in Nigeria. The study recommends that investors and financial analyst should pay particular attention to all profitability ratios under this IFRS regime. Also, investors should not base their investment decisions on banks’ profitability in the short term but rather the long-term viability and performance should be taken into cognizance. This study provides original insight into the relevance of IFRS in determining the viability or otherwise of profitability ratios of listed banks in Nigeria

INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS) ADOPTION AND QUALITY OF FINANCIAL REPORTING IN THE NIGERIAN PUBLIC SECTOR

The paper examines the impact of IPSAS adoption on the quality of financial reporting in the Nigerian public sector. 164 respondents selected from the account departments of all government ministries under the Lagos State public service were sampled for the study. The study used regression analysis method to investigate the impact of IPSAS adoption on the quality of financial reporting in the Nigerian public sector. The study adopted adjusted R2 as a primary metric for measuring the model specification. The regression result shows that IPSAS adoption has a significant positive impact on the quality of financial reporting in the Nigerian public sector. This paper recommends that regulatory authorities should adopt adequate measures to ensure compliance by those saddled with the responsibility of preparing public sector financial statements. Also, measures should be taken to enhance the disclosure of relevant financial information that will help users take useful economic decision

Working Capital Management and the Performance of Consumer and Industrial Goods Sectors in Nigeria

The paper investigates the impact of working capital management on the performance of selected companies listed on the Nigerian Stock Exchange using panel data for forty (40) firms from the consumer and industrial goods sectors of the economy. Return on assets (ROA) was adopted as proxy for firm performance while cash conversion cycle (CCC), average payment period (APP), inventory collection period (ICP), and average collection period (ACP) were adopted as proxies for working capital management. Estimation of the impact of the exogenous variables (cash conversion cycle, average payment period, inventory conversion period and average conversion period) on firm performance (endogenous variable) was based on the econometric technique of the Ordinary Least Squares. The study produced evidence of significant positive impact of cash conversion cycle, average payment period, and inventory conversion period on firm performance. There is also evidence of non significant negative impact of average conversion period on the performance of the selected firms.Parameter estimates were obtained at 10 per cent level of significance. Based on the above result, the study concludes that working capital management has significant impact on the performance of firms in the consumer and industrial goods sectors of the Nigerian economy. Industry managers are therefore advised to innovate efficient strategies for managing working capital so as to optimize its potential

IMPACT OF BANKING CONSOLIDATION ON THE PERFORMANCE OF THE BANKING SECTOR IN NIGERIA

Following the consolidation of the Nigerian banking sector in 2005, to among other things, develop a strong and reliable banking sector capable of supporting the development of the domestic economy, this paper examines the performance of the programme by comparing the pre- and post-consolidation performance of the sector. Two independent samples representing the 9-year period preceding the 2005 banking consolidation exercise and the corresponding 9-year post consolidation period were analyzed. Performance assessment indicators analyzed in the study are non-performing loans ratio (asset quality), return on assets (earnings/profitability), capital adequacy ratio (long-term liquidity) liquidity ratio (short-term liquidity), bank loans and advances ratio (credit delivery) and bank assets ratio (bank size). Levene's independent sample t-test was used to determine evidence of significant difference in banking sector performance between the pre- and post-consolidation periods. At 5 per cent level of significance, the study shows evidence of significant differences in asset quality, capital adequacy ratio and loans and advances ratio. However, there is no evidence that return on assets, liquidity ratio and bank asset ratio differ significantly between the pre- and post- consolidation periods. Based on the above results, we conclude that banking consolidation significantly impacted on banking sector performance in Nigeria. We therefore recommend introduction of adequate regulatory measures, by the relevant authorities, in the sector as well as implementation of robust human capital development initiatives as imperatives for nurturing and sustaining the gains of the exercis

Financial Inclusion: A Panacea for Balanced Economic Development

The major objective of this paper was to determine the effect of financial inclusion on economic growth and development in Nigeria using historical data on selected variables over the period 1986- 2015. Ordinary Least Squares regression technique was adopted. Financial inclusion was measured inthe study using loan to deposit ratio (LDR), financial deepening indicators (FDI), loan to rural areas (LRA), and branch network (Bbranch). Measures of financial deepening adopted in the study are ratios of private sector credit to GDP and broad money supply to GDP. Economic growth wasproxied as growth in gross domestic product (GDP) over successive periods while per capita income (PCI) was adopted as a measure of poverty and hence an index of development. The main findings are (i) credit delivery to the private sector (an index of financial inclusion) has not significantly supported economic growth in Nigeria (ii) financial inclusion has promoted poverty alleviation in Nigeria through rural credit delivery. The study recommends that the monetary authorities should not only deepen financial inclusion efforts through enhanced credit delivery to the private sector but should also strengthen the regulatory framework in order to ensure efficient and effective resource allocation and utilization