Institutional Financing and Poverty Alleviation in Nigeria

The study examined the nexus between Institutional Financing and the Poverty rate in Nigeria. The rationale behind the study is to establish the extent to which disbursed credits from the selected financial institutions have helped in alleviating the poverty rate in Nigeria. The institutional credits considered in this study include credits from the Bank of Industry, Bank of Agriculture, Microfinance Bank, African Development Bank, World Bank, and Deposit Money Bank while Poverty Index was used as a measure of the poverty rate.  The study covered the periods 1991 to 2021 and data was sourced from the World Bank Database. We employed Unit Root Test, Johansen Co-Integration Test, Vector Error Correction Model, and Granger Causality Test. In the long run, we found that Microfinance Bank credit and African Development Bank credit significantly contributed to the poverty alleviation agenda of the government in Nigeria. As such, we conclude that institutional credits from Microfinance Bank and African Development Bank have significantly contributed to the fight against the poverty rate in Nigeria. As such, we recommended that Microfinance Bank should maintain its credit disbursement pattern as the report has shown that its credit has helped to assuage the poverty rate in Nigeria. Doing this is necessary as it will help in including the financially excluded citizens of the country in the financial web and also increase their access to financial products

Reducing the environmental impact of surgery on a global scale: systematic review and co-prioritization with healthcare workers in 132 countries

Abstract Background Healthcare cannot achieve net-zero carbon without addressing operating theatres. The aim of this study was to prioritize feasible interventions to reduce the environmental impact of operating theatres. Methods This study adopted a four-phase Delphi consensus co-prioritization methodology. In phase 1, a systematic review of published interventions and global consultation of perioperative healthcare professionals were used to longlist interventions. In phase 2, iterative thematic analysis consolidated comparable interventions into a shortlist. In phase 3, the shortlist was co-prioritized based on patient and clinician views on acceptability, feasibility, and safety. In phase 4, ranked lists of interventions were presented by their relevance to high-income countries and low–middle-income countries. Results In phase 1, 43 interventions were identified, which had low uptake in practice according to 3042 professionals globally. In phase 2, a shortlist of 15 intervention domains was generated. In phase 3, interventions were deemed acceptable for more than 90 per cent of patients except for reducing general anaesthesia (84 per cent) and re-sterilization of ‘single-use’ consumables (86 per cent). In phase 4, the top three shortlisted interventions for high-income countries were: introducing recycling; reducing use of anaesthetic gases; and appropriate clinical waste processing. In phase 4, the top three shortlisted interventions for low–middle-income countries were: introducing reusable surgical devices; reducing use of consumables; and reducing the use of general anaesthesia. Conclusion This is a step toward environmentally sustainable operating environments with actionable interventions applicable to both high– and low–middle–income countries

Cashless Policy and Performance of Banks in Nigeria

This study looks into the connection between Nigerian banks' performance and their cashless policy. Checks, credit/debit cards, and NEFT were used as stand-ins, and profitability was used as a performance indicator, in order to analyse the synergy between Nigerian banks' performance and their cashless strategy. The study adopted quasi-experimental research design using cross-sectional research design. The population of this study comprised of 10 selected banks in South-South State, Nigeria. 100 copies of questionnaire distributed to top managers of these selected banks. The Multiple Regression Analysis Statistical tool was used with the aid of Statistical Package for Social Sciences (SPSS version 23.0), discriminant validity (AVE) and Cronbach Alpha verified the internal consistency and validity status and the results were positive. The findings of the study showed that cashless policy substantially related with performance of banks in Nigeria, thus enhancing profitability. Based on the findings, the study, recommends that, Making use of cheques, funds transfers, E –payments and owning/ operating of bank accounts should be encouraged. This will give a further boost to the enrichment of our payment system in Nigeria

Banking Business Models and Deposit Funding Requirements: A Study of Selected Nigerian Deposit Money Banks

The objective of this paper was to examine the empirical evidence of the different business models that Nigerian deposit money banks operate and their deposit funding requirements using the top five Nigerian deposit money banks by asset base. Data were collected from various annual reports of Access Bank, Zenith Bank, FBN Holdings, UBA, and GT Bank from 2005 to 2020. We reviewed the bank’s primary deposit characteristics to establish the prevailing deposit mix, with an inquiry into why banks switch models. We used the cluster analysis technique to analyse the selected banks statements of financial position ratios and identify the different business models the banks had adopted in the period under study. The studied banks, Access, Zenith, FBN Holdings, UBA, and GT Bank, were classified according to the respective business models they adopted using the data characteristics. The identified models are retail-funded, wholesale-funded, and market-oriented. The findings from the cluster analysis show that Zenith, UBA, and FBN Holdings adopted wholesale, retail, and market-oriented models, respectively. Access and GT Banks switched models at various times. Across the models, the activities of the banks on the asset side of the balance sheet were mainly funded by customer deposit liabilities. The banks’ deposit structures also indicate that the mixes were skewed in favour of current accounts and savings bank accounts, which are known, in banking parlance, as demand deposits. We conclude that demand deposits are critical and the most vital components of banking institutions deposit structures, irrespective of the business model adopted. Its implications for the profitability, efficiency, and effectiveness of the bank's overall objectives cannot be overemphasized. We also conclude that the reason for switching models in Nigerian deposit money banks flows more from the strategic decisions of the management than regulatory or environmental factors

Cashless Policy and Performance of Banks in Nigeria

This study looks into the connection between Nigerian banks' performance and their cashless policy. Checks, credit/debit cards, and NEFT were used as stand-ins, and profitability was used as a performance indicator, in order to analyse the synergy between Nigerian banks' performance and their cashless strategy. The study adopted quasi-experimental research design using cross-sectional research design. The population of this study comprised of 10 selected banks in South-South State, Nigeria. 100 copies of questionnaire distributed to top managers of these selected banks. The Multiple Regression Analysis Statistical tool was used with the aid of Statistical Package for Social Sciences (SPSS version 23.0), discriminant validity (AVE) and Cronbach Alpha verified the internal consistency and validity status and the results were positive. The findings of the study showed that cashless policy substantially related with performance of banks in Nigeria, thus enhancing profitability. Based on the findings, the study, recommends that, Making use of cheques, funds transfers, E –payments and owning/ operating of bank accounts should be encouraged. This will give a further boost to the enrichment of our payment system in Nigeria

Entrepreneurial Marketing and Organizational Performance of Deposit Money Banks in Rivers State, Nigeria

This study examined the relationship between entrepreneurial marketing and organizational performance of deposit money banks in rives state. The cross-sectional survey was employed and a population of 170 managers and supervisors of deposit money banks were covered. However, a sample size of one hundred and eighteen (118) employees of 16 Deposit Money Banks were covered. Copies of questionnaire were administered to respondents. The simple random sampling technique was employed and data were analysed using Structural Equation Modelling. The findings revealed a significant relationship between the dimensions of entrepreneurial marketing (Proactiveness and value creation) and organisational performance. It was concluded that the ability of the deposit money banks to enhance their entrepreneurial marketing in terms of increased proactiveness and innovativeness will cause increased organizational performance. The study recommend that management of the deposit money banks should have a long-term orientation regarding the operations of their business will enable them to perform effectively in the industry

Compensation Management and Employee Performance of Mortgage Banks in Abuja

We studied how compensation management impact on employee performance, considering mortgage banks that operate in Abuja, Nigeria. Seven of these banks were picked in this cross-sectional study. One hundred and seventy-one (171) staff of these 7 banks were selected randomly to provide opinion of this investigation. We used questionnaire to solicit for these opinions which are crucial for our study. We subjected the perception of all 171 employees to descriptive and inferential analysis, after recoding them. To capture compensation management, we opt for performance-based, seniority-based and skill-based pay, correlating them with our measure of employee performance (employee commitment and creativity). We showed that employees will be inclined to commit to working for the banks when compensation is performance-, seniority-, and skill-based. Compensation on the basis of performance, seniority, and skill will increase the creativity level of employees. Our result speaks to compensation management determining employee performance in the banks. We recommend, therefore, that banks ensure the practice of employee compensation is performance-, skill- and seniority-based and should make the climb up the corporate ladder flexible

Forensic Accounting and Economic Development in Nigeria

The need to upend the abysmal level of economic development in Nigeria and reverse the ugly indices of economic development has been of great interest to the government of Nigeria. In the descriptive nature of our study, we explored the role of forensic accounting in promoting economic development in Nigeria. The population of our research includes accountants and senior staff of Ministries, Departments and Agencies (MDAs). A sample size of 360 was estimated using the Yamane formula, but 349 copies of questionnaire were usable. In this study, we used frequencies and percentages in our descriptive analysis and our proposed hypotheses were tested using the Pearson correlation method. From our analysis, we observed forensic accounting as an important factor in promoting economic development. Forensic accounting in the three dimensions used facilitate employment generation and standard of living, while there is reduction in poverty on account of adopting forensic accounting. These impressive discoveries led us to recommend that, government should regulate the activities of the forensic accounting profession to ensure members conduct themselves properly, enhance competency and standard and ensure members of the public are protected from being misled

Analysis of the Effect of Foreign Exchange Market Returns of Emerging African Economies on Nigerian Stock Market Volatility

This research analysed the effect of foreign exchange market returns of emerging African economies on Nigerian stock market volatility. It deployed weekly exchange rate data of the sampled foreign exchange markets and Nigeria Stock market All Share Index for the period. The Econometric tools used were the symmetric Generalised Auto Regressive Conditional Heteroskedacity (GARCH), Asymmetric Threshold GARCH and Power GARCH models. Results show that: Nigerian Stock market volatility was not evidently driven by the influence of the foreign exchange markets of the emerging economies. .The Nigeria stock market volatility is persistent with no asymmetric or leverage effect. Symetric GARCH was proven to have outperformed the other ARCH-type models. There is negative correlation between Nigeria Stock Market returns and Nigeria foreign exchange market and other African countries. The interactions among African Foreign exchange markets are poor. It is recommended that risk monitoring and assessment in the Nigeria stock market should be done with appropriate techniques for objectivity, exclusion of bias and optimal investment outcomes. This study has proven the plausibility of GARCH –type models if the volatility in the market must be described and captured

Corporate Governance and Bank Performance: A Study of Deposit Money Banks in Rivers State

This study investigates the relationship between corporate governance and firm value: a study of deposit money banks in Rivers State. Six null hypotheses were formulated from the study variables. The survey method was adopted to study sixty-eight (68) managers of deposit money banks in Rivers State. The null hypotheses were tested through the Spearman Rank Correlation coefficient statistical tool and the findings showed a significant positive relationship between the corporate governance and firm value. Thus, it was concluded that corporate governance influences the value of deposit money banks in Rivers State. Specifically, fairness and transparency of board members and the banks, significantly improves shareholders and investors’ perception of value of a firm. In line with the findings, it is recommended that the management of deposit money banks should: ensure there is cordial interrelationship between the boards of the banks, the management and the shareholders through continuous consultations and carrying everyone along; and the government and regulators such as the CBN should have zero tolerance for below standard corporate governance practices by Nigeria banks. The central bank should be above board and transparent in dealings with the banks to ensure that all stakeholders’ interests in the Nigeria banking sector are consistently protected