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Full-Text Articles in Social and Behavioral Sciences
Digital Technology And The Transformation Of The Nigerian Banking System: The Operators’ Perspective, Ireti Samuel-Ogbu
Digital Technology And The Transformation Of The Nigerian Banking System: The Operators’ Perspective, Ireti Samuel-Ogbu
Economic and Financial Review
The rapid development of digital technology through the years, and the rails provided by the internet for connectivity remains the most important development that has impacted change and driven massive improvement in the operation of banking and financial services. It has brought in its wake huge disruptions in product roll-out and the way products are delivered. The entry of technology companies into financial services cannot be overlooked in discussing these changes. Nigeria has not been left behind in this evolution. Instead, the Nigerian banking industry has been the forerunner in digital initiatives in Africa that have transformed the banking and …
Torn Between Two Pandemics: Poverty Pandemic And Coronavirus Pandemic In Nigeria, Tope Shola Akinyetun
Torn Between Two Pandemics: Poverty Pandemic And Coronavirus Pandemic In Nigeria, Tope Shola Akinyetun
Southern African Journal of Policy and Development
The wave of coronavirus pandemic that hit the world coincides with Nigeria’s struggles with her newly attained position as the poverty capital of the world. This paper argues that prevalent poverty is a pandemic that the world has learnt to live with, and that Nigeria is struggling to overcome. The agony of poverty in the country coupled with the coronavirus pandemic subjects the country to a quandary of a dual-pandemic scourge. The paper relies on secondary data and adopts a descriptive and analytic approach. It concludes that multidimensional poverty in Nigeria is pervasive and has become deepened by the pandemic …
Implications Of The African Continental Free Trade Area For Nigeria’S Economic Growth, O. S. Aigheyisi, M. A. Iyoha
Implications Of The African Continental Free Trade Area For Nigeria’S Economic Growth, O. S. Aigheyisi, M. A. Iyoha
Economic and Financial Review
The objective of this paper is to examine the effect of intra-African Trade on Nigeria’s economic growth from 1981 to 2019. To achieve this, the ARDL modeling technique is employed to investigate the short-run and long-run effects of intra-African trade on Nigeria’s economic growth. The study finds that though the short-run effect is positive but not significant; the long-run effect is significantly positive, and robust to alternative estimation techniques. This suggests that expansion of trade among African countries, which is expected to result from the full implementation of the African Continental Free Trade Agreement (AfCFTA), would have positive growth effect …
Environmental Accounting And Financial Performance Of Listed Family-Owned Companies In Nigeria, Charles Segun Ilelaboye, Muyiwa E. Alade
Environmental Accounting And Financial Performance Of Listed Family-Owned Companies In Nigeria, Charles Segun Ilelaboye, Muyiwa E. Alade
International Review of Business and Economics
This study examines the effect of environmental accounting on the performance of family-owned companies in Nigeria using restoration cost, community development costs and health & security costs as surrogates. The study used ex-post facto research design. The population of the study consisted of all 12 family-owned companies across industrial and oil & gas sectors that were quoted on the Nigerian Stock Exchange (NSE). Purposive sampling technique was used to select six (6) family-owned companies that disclosed environmental information. Data were gleaned from the annual reports of the sampled companies covering 2012-2020. The study used descriptive statistics, correlation and Ordinary Least …
The Treasury Single Account System And Financial Stability In Nigeria, Olusola Esther Igbekoyi
The Treasury Single Account System And Financial Stability In Nigeria, Olusola Esther Igbekoyi
International Review of Business and Economics
This study investigates the effect of the treasury single account system on financial stability in Nigeria. Specifically, we hoped to find out if speculation of government regarding government debt and stock market performances are met. The study utilized data published in the Central Bank of Nigeria statistical bulletin for a period of 2011-2020. The time series data collected were analyzed using descriptive and inferential statistics. The findings revealed that the TSA system had a negative impact on government debt performance, with significant negative impact on advances from commercial banks and external debt finance charges. However, it had an insignificant negative …
Keynote Address, Godwin I. Emefiele Con
Keynote Address, Godwin I. Emefiele Con
Economic and Financial Review
The theme for this year’s edition, “Food Security in Nigeria: Options for Policy” is apt and in tune with the existing realities of both the global and domestic economies, which have suffered heavily from the impact of the COVID-19 pandemic. In fact, the theme could not have come at a better time than now when issues of insecurity, climate change, and COVID-19 related disruptions are challenging food production and supply, not only in Nigeria but also globally. As a matter of fact, food security is critical for national security, economic stability and sustainable development.
Welcome Address, Itohan M. Ogbomon-Paul
Welcome Address, Itohan M. Ogbomon-Paul
Economic and Financial Review
The theme of this year’s Seminar is tagged “Food Security in Nigeria: Options for policy”. The central focus of the Seminar is to discuss policy options for tackling the challenges of food insecurity, with the resultant outcomes on poverty reduction, job and wealth creation, as well as overall growth and development of the Nigerian economy. This year’s Seminar provides a unique opportunity for us all, because food holds the key to quality human existence. Indeed, food security is at the core of every nation’s development agenda. The quantity and quality of food available to the citizenry is correlated with the …
Food Security, Economic Growth And Price Stability Nexus And Conceptual Issues, Park O. Idisi
Food Security, Economic Growth And Price Stability Nexus And Conceptual Issues, Park O. Idisi
Economic and Financial Review
A strong argument that encourages analysing food security and food price stability issues is importance to economic well-being. Nigeria is one of the most food insecure countries and highly affected by all three drivers. For one, the country is vulnerable to price instability and successively hit by environmental disasters, that impact people’s livelihoods. Furthermore, its economy is thriving, but around 48.0 per cent of its population lives below the poverty line (World Bank, 2020; World Poverty Clock, 2020). In addition to that, since 2009 northeastern Nigeria is struck by insurgency. Essentially, sustainability in economic growth is dependent on achievement of …
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Adeleye O. Oyebade Mni
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Adeleye O. Oyebade Mni
Economic and Financial Review
Food is defined by Britannica, a web-based encyclopaedia, as any substance consisting of protein, carbohydrate, fat, and other nutrients used in the body of an organism to sustain growth and vital processes, and to furnish energy.8 In a similar definition, Wikipedia described food as any substance consumed to provide nutritional support for an organism; adding that food is usually of plant, animal or fungal origin, and contains essential nutrients. The above definitions explain why food is viewed as an essential need of life. However, the production of food has been declining in recent times for some reasons, including the adverse …
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Kabir Ibrahim Mnia, Fnim, Acc
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Kabir Ibrahim Mnia, Fnim, Acc
Economic and Financial Review
This paper seeks to advise on how to tackle the skyrocketing prices of food being experienced today all over the nation and to get the Government to take urgent and proactive actions to avert the pain being experienced by the entire Nigerian people.
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Gabriel S. Umoh
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Gabriel S. Umoh
Economic and Financial Review
This paper reviews food crisis and its causes in Nigeria. It takes the position that food crisis has been simmering in Nigeria for the past couple of years and identifies policy instability, poor policy implementation and declining household purchasing power, among others as the major causes of food crisis. It recommends strong policy support and implementation, automatic indexation of wages and pensions and other measures to curb food crisis in the country.
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Alwan A. Hassan
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Alwan A. Hassan
Economic and Financial Review
Nigeria suffers from food insecurity and poverty. It is estimated that the number of hungry people in Nigeria is over 53 million, which is about 25.0 per cent of the country’s total population of about 212 million. Also, about 43.0 per cent of Nigerians live below the poverty line. These statistics are worrisome, given that Nigeria, in the 1950s and 1960s, was not only self-sufficient in food production, but was also a net exporter of food to other regions of the continent (Ajayeoba, 2010). A nation is food secure when food is available and accessible in sufficient quantity and quality …
Special Remarks, Kingsley Obiora
Special Remarks, Kingsley Obiora
Economic and Financial Review
The theme of this year’s Seminar, Food Security in Nigeria: Options for Policy, is apt, timely and consistent with the current efforts of this administration and the Bank in finding sustainable solutions to the food security challenges confronting us as a nation. As we all know, food is a basic need of every man and key to socio-economic stability. The ability of a country to feed its people, and perhaps extend the surplus to other countries, is one of the key indicators of good standing in the comity of nations. The World Food Summit (1996), defined food security as a …
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Emmanuel A. Onwioduokit
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Emmanuel A. Onwioduokit
Economic and Financial Review
Discussions on food security have gained traction in the recent past, especially in Africa and other developing economies. Several horrifying images of famished families, particularly around “The Horn of Africa” including Somalia, Ethiopia, and some parts of Kenya, projected globally in both the print and electronic media vividly illustrate the perils of food crises. In Nigeria, food constitute a substantial share of family budgets, particularly for low-income households. When prices of essential foods items increase poorer people suffer the adverse impacts more disproportionately. While clothing and shelter are basic necessities of life, food remains the most vital, given its centrality …
Asset Management Corporation Of Nigeria (Amcon) Capital Injection, Pascal Ungersboeck, Corey N. Runkel
Asset Management Corporation Of Nigeria (Amcon) Capital Injection, Pascal Ungersboeck, Corey N. Runkel
Journal of Financial Crises
Nigeria experienced the Global Financial Crisis as a dramatic decline in the price of crude oil and a burst stock market bubble. These losses were compounded by a high level of margin lending, resulting in large numbers of nonperforming loans (NPLs) for Nigerian banks. The government established the Asset Management Corporation of Nigeria (AMCON) in July 2010 to purchase NPLs and inject capital into insolvent banks. AMCON injected a total of ₦2.3 trillion (US$15.3 billion) in capital into eight different financial institutions. Five capital injections were designed to bring failing banks to zero net asset value and allow them to …
External Sector Liberalization And Output Growth In Nigeria, Emmanuel A. Onwioduokit, Obong E. Effiong
External Sector Liberalization And Output Growth In Nigeria, Emmanuel A. Onwioduokit, Obong E. Effiong
Bullion
The paper investigates the impact of external sector liberalization (foreign direct investment, external debt stock, trade openness and exchange rate) on the output growth in Nigeria from the period 1981 to 2019, utilizing correlation analysis, Granger causality test and vector autoregression (VAR). The results indicate that foreign direct investment, external debt stock, trade openness and exchange rate all correlate positively with gross domestic product. Also, the granger causality test indicates that foreign direct investment, trade openness and exchange rate granger cause the output growth in Nigeria. From the VAR result foreign direct investment exerted positive and significant impact on the …
Nigeria’S Economic Management: Reflections Through Monthly Interest Rate Movement From 1996 To 2020 And Beyond, Job Nmadu, Halima Sallawu, Yebosoko Nmadu
Nigeria’S Economic Management: Reflections Through Monthly Interest Rate Movement From 1996 To 2020 And Beyond, Job Nmadu, Halima Sallawu, Yebosoko Nmadu
University of South Florida (USF) M3 Publishing
Economic management is the rules, policies, procedures and skills deployed to manage the resources, finances, income, and expenditure of a community, business enterprise or a whole country. The major instruments of economic management are the fiscal and economic development policies normally outlined in the countries budget by the President. The failure to achieve the stated objectives in the fiscal and monetary policies are the major challenges faced by less developed and developing countries of the world. This is because of frequent fluctuations in macro-prices particularly interest, wage and exchange rates. The resultant effects of the movement of these prices are …
Asset Management Corporation Of Nigeria (Amcon): Asset Management, Pascal Ungersboeck, Corey N. Runkel
Asset Management Corporation Of Nigeria (Amcon): Asset Management, Pascal Ungersboeck, Corey N. Runkel
Journal of Financial Crises
Nigeria experienced the Global Financial Crisis as a dramatic decline in the price of crude oil and a burst stock market bubble. These losses were compounded by a high level of margin lending, resulting in large numbers of nonperforming loans (NPLs) for Nigerian banks. The government established the Asset Management Corporation of Nigeria (AMCON) in July 2010 to purchase NPLs and inject capital in insolvent banks. In three purchases between December 2010 and December 2011, AMCON acquired loans with face value ₦4.02 trillion ($26.8 billion) for ₦1.76 trillion. As a result, NPLs in Nigerian banks fell from a peak of …
The Implications Of Legal And Policy Frameworks For E-Commerce In Nigeria, Chinelo Constance Ugwu, Ann Ogbo Ph.D
The Implications Of Legal And Policy Frameworks For E-Commerce In Nigeria, Chinelo Constance Ugwu, Ann Ogbo Ph.D
Bullion
This article seeks to throw light on the legal implications of E-commerce as it affects users in Nigeria. It outlines basic requirements for smooth running of online business in Nigeria from registration to full operations. It also looks at the preparedness of the Nigerian Government to position the country alongside its peers on the digital business map in terms of cyber space security. The paper is structured in the following manner: Conceptual review of E-commerce is discussed in the first section while the second section outlines Nigeria's Preparedness and the journey so far. The third section briefly explains the global …
Does Foreign Direct Investment Matter For Industrialisation In Nigeria?, Obianuju Ogochukwu Nnadozie, Lotanna Ernest Emediegwu, Anthony Monye-Emina
Does Foreign Direct Investment Matter For Industrialisation In Nigeria?, Obianuju Ogochukwu Nnadozie, Lotanna Ernest Emediegwu, Anthony Monye-Emina
Zambia Social Science Journal
This paper employs cointegration and error correction techniques to provide empirical evidence on the dynamic relationship between foreign direct investment (FDI) and industrialisation in Nigeria for the period 1981-2015. Our findings show that FDI does not have a significant effect on industrialisation in Nigeria either in the short run or the long run. Also, the empirical results reveal that trade significantly harms industrialisation in Nigeria both in the short run and the long run. Our empirical results are, however, not surprising given that FDI inflows into Nigeria have largely been resource-seeking, that is, mainly targeted at the oil sector with …
Women's Political Representation And Sustainable Development In Nigeria, 1999-2019., Efetobar Stephanie Effevottu
Women's Political Representation And Sustainable Development In Nigeria, 1999-2019., Efetobar Stephanie Effevottu
Young African Leaders Journal of Development
All over the world, the invincibility of women in politics act as a limitation to the promotion of gender equality and the accomplishment of the sustainable development goals. This paper interrogates the political representation of women in Nigeria's fourth republic. It is driven by the desire to unravel the challenges faced by Nigerian women in their quest for equitable political space and its inference for sustainable development in Nigeria. The findings of the study reveal that there has been significant improvement in the lives of women in Nigeria since the return of democratic governance in 1999. It also indicates that …
Local Government And Community Development In The 21st Century: Evidence From Nigeria, Olawale Akinrinde, Akanbi Ololade
Local Government And Community Development In The 21st Century: Evidence From Nigeria, Olawale Akinrinde, Akanbi Ololade
Young African Leaders Journal of Development
The central aim of this study is to examine and highlight the role of local government in community development. Drawing evidence from Iwo Local Government Area of Osun State, Nigeria, this study brings the Nigerian political arrangement to the fore by establishing its negation of the undergrowth of community development which underscores true federalism. Relying on the General Systems theory further, this study established a linkage between local government and community development in Nigeria. Challenges such as lack of true federalism, local government autonomy, lack of funds, and under-staffing were discovered as root causes of local governments' inability and failure …
Education Towards Attaining Sustainable Development In Developing Nations: Nigeria As A Case Study, Ezeifekwuaba Tochukwu Benedict
Education Towards Attaining Sustainable Development In Developing Nations: Nigeria As A Case Study, Ezeifekwuaba Tochukwu Benedict
Young African Leaders Journal of Development
This Research Paper is a contribution towards highlighting the underdevelopment challenges in Nigeria by applying Education as a tool. In the present decades, there has been a Paradigm Shift in emphasizing on Sustainable Development and the way it been practised. All over the country, there is evidence of a failed leadership attributed by a dwindling economic, educational, political and social fortune. All these challenges are due to the incapability of the leadership to effectively plan for development and apply the necessary educational tools that can produce great leaders that can control the helms of Government and the private sectoral industries. …
Impact Of Aml/Cft Regulations On Digital Disruptions (Fintech) And Financial Inclusion In Sub-Saharan Africa, David Nkang Odu
Impact Of Aml/Cft Regulations On Digital Disruptions (Fintech) And Financial Inclusion In Sub-Saharan Africa, David Nkang Odu
Bullion
Financial Technology is becoming paramount in all financial institutions, being utilized in helping companies manage most of their financial operations efficiently through the use of software and specialized algorithms. The future of finance will shine brightest when it provides standard and valuable services to the society, however this will come with its own merits and demerits. I have prepared this report to carry out a detailed discussion on the impact that the AML/CFT controls have on FinTech and the financial inclusion initiative in sub-Saharan Africa. The AML/CFT controls can be applied more effectively in the formal systems for banking and …
Impact Of Financial Deepening On Socio-Economic Development In Nigeria: 1991 - 2018, Igonibo Dumoteim Abili
Impact Of Financial Deepening On Socio-Economic Development In Nigeria: 1991 - 2018, Igonibo Dumoteim Abili
Bullion
This study investigates the relationship between financial deepening and socioeconomic development in Nigeria. The specific objectives examined the impacts of broad money supply, private sector credit and financial openness on human development index in Nigeria from 1991 to 2018. Time series data on each of the variables were analyzed using Fully Modified Least Squares and Granger Causality test. The unit root test results revealed that all the variables in the model became stationary after first difference and are all I (1). The cointegration test result revealed that the variables had long run relationships. The cointegrating regression result indicated that broad …
Relationship Between Volatility In Domestic Oil Production, Oil Price And Exchange Rate In Nigeria: Co-Integration And Granger Causality Tests, Bashir Umar Faruk
Relationship Between Volatility In Domestic Oil Production, Oil Price And Exchange Rate In Nigeria: Co-Integration And Granger Causality Tests, Bashir Umar Faruk
Bullion
The paper examines the relationship between volatility in domestic oil production, oil prices, and exchange rate in Nigeria. The study employs monthly time series data, from January 2006 to August 2018. Data for the Nigerian Bonny light oil prices (COP), Domestic Oil Production (DOP) and Exchange Rate (EXC) are obtained from the Central Bank of Nigeria (CBN) website. While, dummy variable (DUM) represents stability and instability in the Niger-Delta oil-rich region was traced from historic oil disruptions in the region. Autoregres s i ve Di s tributed Lag (ARDL)/bound testing method and pairwise granger causality were employed. Unit root test …
Impact Of Tax Revenue On Economic Growth In Nigeria (1981-2017), Abubakar Biliksu Aliyu, A. A. Mustapha
Impact Of Tax Revenue On Economic Growth In Nigeria (1981-2017), Abubakar Biliksu Aliyu, A. A. Mustapha
Bullion
The main objective of this research is to assess empirically the impact of tax revenue on economic growth in Nigeria, spanning from 1981 to 2017. It employs, time series data obtained from the CBN statistical bulletins, FIRS annual publications and National Bureau of Statistics (NBS) portal. To achieve the objectives of the study, OLS and ARDL techniques were employed to estimate the relationships and the dynamics and longrun effects of independent variables on dependent variable. ARDL bound test revealed that the variables are cointegrated while ARDL long-run estimation indicated that petroleum profit, value added tax and government domestic debt are …
Determination Of Optimal Level Of Foreign Reserves In Nigeria, Ishola W. Oyeniran, Solomon A. Alamu
Determination Of Optimal Level Of Foreign Reserves In Nigeria, Ishola W. Oyeniran, Solomon A. Alamu
CBN Journal of Applied Statistics (JAS)
This study adopts the ’buffer stock model’ advanced by Frenkel and Jovanovic (1981) to estimate the optimal level of foreign reserves for Nigeria. The Autoregressive Distributed Lag Approach (ARDL) was used to estimate the optimal foreign reserves function. The results show that the Nigeria’s optimal reserves level responses to adjustment cost of holding reserves and exchange rate volatility and that import and opportunity cost of reserves holding have insignificant impact on Nigeria’s optimal foreign reserves. The short run and long run estimates of the buffer stock model support the theory that foreign reserves holding in Nigeria is more sensitive to …
Portfolio Capital Inflows And Banking Crisis In Emerging Market And Developing Economies (Mdes): Bank-Level Evidence From Nigeria, Tijjani Mohammed Jume
Portfolio Capital Inflows And Banking Crisis In Emerging Market And Developing Economies (Mdes): Bank-Level Evidence From Nigeria, Tijjani Mohammed Jume
Bullion
The objective of the paper is to assess the effects of foreign portfolio capital surge on the banking sector in Nigeria from 2005 - 2018. Using a simple trend analysing a static general equilibrium framework, the paper reveals that portfolio capital inflows, in the wake of monetary policy independence in Nigeria, led to portfolio capital surge which resulted to credit boom and speculative transactions in the Nigerian Stock Exchange (NSE) leading to assets price bubble. When the bubble burst during the global financial crisis (GFC) in 2007, and thereafter in 2014, portfolio capital inflows reversed and banking stocks prices declined …
Measuring The Risk In Risk Measures: The Case Of The Nigerian Foreign Exchange Market, K. Katata
Measuring The Risk In Risk Measures: The Case Of The Nigerian Foreign Exchange Market, K. Katata
Economic and Financial Review
As part of its mandate, the Central Bank of Nigeria (CBN) carried out a series of foreign exchange policy decisions from 2014 to 2016. This paper, therefore, evaluated model risk of two key risk measures, expected shortfall (ES) and value-at-risk (VaR), due to the CBN's policy decisions using daily data for the naira exchange rates covering 2010 to 2014, as well as, 2011 to 2015 for the respective policy resolutions. The risk measures were implemented using 6 different models, as the most common techniques used by regulators and practitioners. The implementation of Basel III recommends the switchover from VaR to …