ICT AND NIGERIAN BANKS REFORMS: ANALYSIS OF ANTICIPATED IMPACTS IN SELECTED BANKS

Banking has become highly ICT based and due to its inter-sectoral link, it is reaping the benefits of technological revolution as evidenced by its application in most of its operations. The study carried out empirical analysis of the anticipated role ICT has in enhancing the operations of selected Nigerian banks in the light of current reforms. Primary data was employed, which was analyzed using cross-tabulations and regression technique built on the framework of technical progress. Factors such as bankers’ age, educational qualification, computer literacy and type of ICT gadgets, were found to influence banks’ degree of ICT usage, while ICT impacts significantly the speed of banking operations, productivity and profitability. The need for the banks to regularly train their workers, and procure quality ICT gadgets, which will enhance efficiency, etc, was stressed. This is crucial in the sector’s current reforms where attention is focused on the ability of banks to attract and retain customers, which is mainly feasible through efficient service delivery that depend, to a large extent, on the use of ICT

FOREIGN CAPITAL AND AFRICA’S ECONOMIC PROGRESS: FACTS FROM NIGERIA AND SOUTH AFRICA

Foreign capital inflow is usually believed as a means of supplementing domestic capital. The paper examined the influence of foreign capital on Africa’s economic progress focusing on Nigeria and South Africa (1970-2004). Data sourced from IFS, CBN and others were analyzed with econometric techniques. Empirical facts from cointegration and Granger casualty tests are as follows: There is a long-run relationship between foreign capital and economic progress in South Africa but in Nigeria it is short-run oriented; Foreign capital Granger-causes economic progress in South Africa, while in Nigeria casualty runs on the reverse; a bi-directional causality exists between economic progress and domestic capital in South Africa, for Nigeria it is uni-directional running from domestic capital to economic progress; Labour force in both countries Granger-causes their economic progress. In the light of the above, foreign capital should be promoted in South Africa to enhance her economic progress while in Nigeria polices that can reduce the level of capital flight (e.g. dependable institutional framework etc) are essential for foreign capital to have long-run influence on her economic progress. The need for the countries to rely more on domestic capital is equally suggested as viable factors for their economic progress

Globalisation, Governance and Economic Growth in West Africa: The Case of Cote D' Ivoire and Nigeria

Globalization conveys varying messages to its audience due to its trans-disciplinary nature, and the pattern of governance and socio-political atmosphere in a given economy can influence the e),.1entto which globalization is harnessed. The study examined the influence of globalization and governance on economic growth in West Africa, drawing empirical facts from Cote d'Ivoire and Nigeria. Data sourced from IFS and Polity IV for the period 1960-2004 were analyzed using parsimonious error correction model after Carrying out stationarity and cointegration tests. Whereas the measure of globalization was found to influence positively the economic growth of Cote d'Ivoire and Nigeria, the nature of governance and socio-political situations had negative effect. The study recommends that efforts are to be made by these countries to adapt technologies that suit local peculiarities via appropriate policies, in order to significantly partake of the opportunities that are in the globalizing world. The need for the nature of governance and socio-political ambiance to be investment friendly was also advocate

Trade Openness and Economic Performance of ECOWAS Members - Reflections From Ghana And Nigeria.

Trade openness is believed to stimulate economic growth due to its influence in integrating world economies and generating better markets. The study examined the impact of trade openness on economic performance of ECOWASMembers focusing on Ghana and Nigeria (1975-2004).Data sourced from IFS and others, were analyzed employing ADF/PP stationarity, cointegration and vector error correction techniques. A unique long-run relationship between economic performance, trade openness, real government expenditure, labour force and real capital stock for both Ghana and Nigeria was established, while about 88.9"10 and 83.1"10 errors made in the previous period were found to be corrected in the current period for the respective countries. In addition, trade openness and real government expenditure impact positively the economies of Ghana and Nigeria. However, the effectswere higher in the former than the latter

Promotion of Non-Oil Export in Nigeria: Empirical Assessment of Agricultural Credit Guarantee Scheme Fund

The Agricultural Credit Guarantee Scheme Fund (ACGSF) was established in 1977 with the aim of enhancing commercial banks' loans to the agricultural sector in Nigeria with focus on agro-allied and agricultural production. Many years down the line, the country has witnessed poor participation in the international market with regards to non-oil export. The above stance was assessed with a view to establishing interaction between ACGSF and non- oil export using the Vector Auto-regressive (VAR) technique. The study found, among ..

EMERGENT AND RECURRENT ISSUES IN CONTEMPORARY INDUSTRIAL RELATIONS: PATHWAYS FOR CONVERGING EMPLOYMENT RELATIONSHIPS.

Within theframework of globalization, there are certain emergent issues that are not only becoming recurrent, but are also coming to the fore in recent discourses that pertain to industrial relations. Based on a review of very vast and current literature in this academic field of study, this paper explores these issues by highlighting the various controversies, challenges and promises that they pose for industrial relations practices in the future. It concludes by specifying the import of the convergence theory in creating a common denominator that characterizes almost all employment relationships worldwide

Trade Outcomes in Africa’s Regional Economic Communities and Institutional Quality: Some Policy Prescriptions

The global economic crisis of 2007/2008 that threatened the economic/financial fabrics of most countries has brought again the essence of strong institutional quality to the fore. This is particularly interesting as it impacted on trade outcomes in many countries including those in Africa. For instance, merchandize exports as a percentage of GDP for SSA reduced by 17.9% in 2007. Thus, this paper examines the effectiveness of RECs in Africa with respect to trade outcomes using some indicators, which was achieved using data from African Development Indicators, inter alia (1996-2008). Analyzing the data with descriptive and statistical techniques established, among others, that the respective indicators of trade outcomes, institutional quality were rather low and differed markedly across RECs in Africa. The study recommends that improvement of institutional quality in tandem with enhanced infrastructural facilities will play crucial roles in promoting trade outcomes in Africa’s RECs

Technology Diffusion and Economic Progress in Africa: Challenges and Opportunities

Application of appropriate technology has been noted as one of the distinguishing factors in growth disparities across countries. Thus, this study investigates the role of technological diffusion in economic progress in Africa. This was achieved using descriptive and empirical analyses based on imitator-innovator theoretical framework. The study established that the sub-regions in Africa with higher values in technological diffusion indicators experienced higher economic progress, which is a good indication of a significant positive relationship between economic progress and technological diffusion. Thus, the study concludes that if Africa must make contribution to the global knowledge economy and move on the path of economic progress, the issue of technological diffusion through adequate investment on R&D, functional education, among others, needs to be addressed with all serious efforts

BANK CONSOLIDATION AND INFORMAL FINANCIAL SECTOR IN NIGERIA: ANALYTICAL PERSPECTIVE OF LINKAGE EFFECTS

The financial sector plays significant role in the growth of an economy via the process of directing funds from surplus sector to areas of need - real sector. The operations in which the banking sector can undertake depend, to a large extent, on the soundness of the capital base. Hence, the need for the bank consolidation that is being pursued in Nigeria. However, the Nigerian financial sector is highly dualistic in nature, involving the formal and informal. Using the McK.innon-Shaw analytical framework, the paper examines this policy and explains how it can induce positive influence in the economy, · especially by integrating the informal financial sector. Thus, it is expected that bank consolidation will increase the scope of the financial transactions and create public confidence in the system thereby encouraging those in the informal sector to patronize the formal

Global Economic crisis and Trade outcomes in OIC: The case of African members

Global economic crisis, which is characterised by price fluctuations across the world, has generated several debates. The crisis is threatening the economic and financial fabrics of most countries with varying degrees of effects due to differences in country’s structural framework. This may have some implications on trade outcomes. For instance, merchandise exports as a percentage of GDP for SSA reduced by 17.9% between 1995 and 2007. Thus, this paper investigates the effects of global economic crisis on trade outcomes using some indicators, namely: trade share in world market, trade per capita, and real growth in trade in selected OIC Members in Africa. This was achieved by employing data sourced from World Trade Indicators and World Development Indicators, which were analysed with descriptive analysis and econometric techniques based panel data framework for the period 1995-2008. It was established, among others, that trade outcomes of OIC Members in Africa are adversely and significantly influenced by global economic crisis. The results, inter alia, call for inward-looking alternatives such as pursuance of investment friendly ambience in enhancing their trade outcomes