Adebanjo Falaye

The research work examined the impacts of internal control on financial performance in Nigeria airline industry. Airline was chosen due to the important role they play in increasing the level of fiscal activity. The aim and target of his research is to resolve whether internal control and its machineries has effect on the financial performance of Nigerian Airline Industry in checking fraud and fraudulent activities in the industry. The project was carried out by reviewing relevant journals, textbooks and literature on the topic. Questionnaires were used to elicit information. A total of 50 copies were distributed to individuals at the airports visited. The data gathered were analyzed using SPSS (Statistical Package for Sciences) to generate frequency percentages and also run the chi-square tests. The results of the empirical findings showed that internal control and its machineries has significant impacts on financial performance in airline industry. It is recommend that internal control should be undertaken with effective continuous monitoring of the controls and airline should be stricter with compliance to control procedure.

This paper highlights the need for financial policy makers in Nigeria to live up in order to speed up the sustainable growth of the nation’s economy. Empirical evidences in the write up are considerably sufficient to shore up the thinking capabilities of the policy makers to see reasons why the cost of capital must be brought down low. Reading through the article is good for political leaders, researchers, financial authorities and scholars in all developing countries.

This paper aims at creating the necessary awareness that could bail out developing economies from continuous living in squalor. It highlights the major global economic and financial reforms as championed by the Basel III standards stipulated by Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS), which G-20 instigated. The paper presents a brief history of what led to Basel III standards and the lessons from it. It presents the Basel III global capital adequacy requirements and the relativity of the reforms to developing countries’ banking institutions. In conclusion, suggestions are made on what the way forward ought to be for the developing countries. Summarily, there is the view that economic and financial reforms should not hamper, but enhance economic growth in the developing countries. Hence, the need to end the stunting roles that local economic and financial regulators play to compare with their peers in the developed economies.

Various studies have been conducted on the impact of exchange rates on the performance of the manufacturing sector and how it influences growth in different climes of the world. These studies have examined; drawing out the relationship between exchange rate and macroeconomic performance, with respect to manufacturing output and its related variables. This study examined the impact of exchange rates on the performance of the Nigerian manufacturing sector using the independent variables of exchange rates, inflation rates, capacity utilization rate, the manufacturing sector’s foreign direct investments, and imports over a period of 25 years (1990-2014). Unit Root test, Johansen co-integration test, Granger causality test and Error Correction Model were used to test for stationarity, long-run relationship, causal relationship, and the short and long run equilibrium relationship respectively. The empirical results of the study shows that a devaluation of the Naira has a negative impact o...

In recent times, the economic fortune of Nigeria has been dwindling as a result of a drastic fall in the price of oil in the world market coupled with the illegal bunkering and the Niger/Delta militancy. This calls for the need to diversify the economy. Tourism is one sector that can guarantee numerous benefits for a sustainable growth from the over reliance on the oil sector. This paper therefore, examined the prospect of tourism as a source of income generation, foreign exchange earner and a source of employment. The sources of data were secondary gotten from CBN Statistical Bulletin and the World Tourism Organization. The paper examined the relationship between tourism and economic growth using Least Square. The result revealed that there is a significant relationship between tourism and economic growth. This confirmed the tourism led growth hypothesis that tourism triggers economic growth because tourists’ spending provides foreign exchange earnings and job opportunities. It fol...

Researchers, academicians and policy makers have been devoting much time and efforts to understand the innumerable factors that underlie top management compensation; particularly how it relates to firms’ performance. Studies show that compensation is one of the most important strategies in the human-resource management functions; as it influences the growth of organizations. Yet, there is dearth of literature on the linkage between compensation and corporate performance. The issue of concern to the study has to do with finding out if directors’ compensation is one of the most identifiable areas to look at as core to improving on shareholders’ wealth. Regression analysis was used to find if there exists any relationship among variables studied. Findings are that that there is a significant relationship between directors’ compensation and return on assets and on net claims paid.

Nigeria as a nation operates a federal structure of government, ‘Federalism’ refers to the existence in a country of more than one level of government, each with different expenditure responsibilities and taxing powers. The major aim of this work is to assess the impact of fiscal federalism and government expenditure on economic growth in Nigeria. Secondary data employed in this work was collected from the Central Bank of Nigeria's (CBN) Statistical Bulletin, CBN Annual Report and Statement of Accounts, National Bureau of Statistics (NBS) and The World Bank Group for years 2000, 2017 and 2018 and part of 2019, respectively. The data covers the period, 1990-2017 on an annual basis. Ordinary Least Square (OLS) was used to estimate multiple regression model where Gross Domestic Product (GDP) as dependent variable and independent variables were interest rate, inflation rate, exchange rate, growth rate of share of federal government from the Federation account, growth rate of share o...

The research work examined the impacts of internal control on financial performance in Nigeria airline industry. Airline was chosen due to the important role they play in increasing the level of fiscal activity. The aim and target of his research is to resolve whether internal control and its machineries has effect on the financial performance of Nigerian Airline Industry in checking fraud and fraudulent activities in the industry. The project was carried out by reviewing relevant journals, textbooks and literature on the topic. Questionnaires were used to elicit information. A total of 50 copies were distributed to individuals at the airports visited. The data gathered were analyzed using SPSS (Statistical Package for Sciences) to generate frequency percentages and also run the chi-square tests. The results of the empirical findings showed that internal control and its machineries has significant impacts on financial performance in airline industry. It is recommend that internal co...

This study examined the impact of financial sector reforms on savings mobilization in Nigeria between the period of 1980 and 2013. It specifically examined the effects of financial sector reforms variables namely ratio of domestic credit given to the private sector to Gross Domestic Product, prime lending rate, ratio of broad money supply to Gross Domestic Product. Others include percentage contribution of financial sector to Gross Domestic Product, Inflation and Dummy variable (a measure of pre-reform and post reform periods) on savings mobilization (measured by domestic savings ratio) in Nigeria. Using the ordinary least square (OLS) estimation technique, the time series data used in the study were sourced mainly from CBN statistical bulletin and Annual Report and Statement of Account. The result obtained from the regression analysis confirmed that financial sector reforms variables used in the study have been effective in enhancing savings mobilization in Nigeria. Hence the need ...

It is imperative for corporations to be cognizance of all its stakeholders; within or without. Corporate governance has championed so many courses in terms of the management of these stakeholders by developing and reviewing codes in other to ensure their success. Balancing good stakeholders’ interest and embracing good corporate practices are the prerequisite for attracting the much-needed foreign investment inflows. This is the responsibility of the board. So many have argued about how the board should be composed or structured in terms of size, composition, shareholding, gender and so on. This study has successfully discussed and analyzed the impact of board composition and structure on corporate financial performance in Nigeria.

This research examines impact of corporate governance regulation and practice on dividend policy using case study of First and Zenith Bank. The objective of this research is to examine, investigate and evaluate if and how corporate governance regulation and practice affect or influence dividend policy in banks. This research adopted a mixed method approach that is using both qualitative and quantitative approach. The research instruments used in data analyses were descriptive analyses, chi-square and multiple linear regressions. The findings in this research were; corporate governance regulation and practice has impact on dividend policy, non-executive directors are very essential in dividend policy decisions as to whether they pay or do not pay dividends, that corporate governance disclosure, board size and size of executive directors are major contributors to the dividend policy adopted and that dividend payments can be used as a corporate governance measure to reduce agency cost....

This study focused on examining the relationship between directors’ compensation and firm performance using selected general insurance companies as a case study. The main objective was to investigate the relationship that exists between directors’ compensation and firm performance. Eight general insurance companies which were listed in Nigeria Stock Exchange (NSE) were studied. The study covered a five (5) years period of 2009-2013. The time frame used considered the recapitalization in the insurance industry that occurred in 2007. The research made use of secondary data which were collected from the published annual reports of the eight (8) general insurance companies under study. The data was analyzed using the regression analysis. The results from the analysis led to the major findings of the study. Return on Assets (ROA) and net claims paid (NC) were used to establish a relationship between with directors’ compensation. The results show that there is a significant relationship b...

This study purposed to find out how the devaluation of Naira has impacted on the productivity and growth of the manufacturing sector in Nigeria. The study was conducted to truly establish the true state of relationship that exists between the two variables; as a measure of the economic relevance of continuously devaluing the Naira. Jo-Hansen co-integration test was used to analyse the obtained data. Study found that devaluation of Naira had a long run relationship with the manufacturing sector. In addition, it was found that devaluation of Naira had negative and significant impact on the manufacturing sector.

This study examined the impact of financial sector reforms on savings mobilization in Nigeria between the period of 1980 and 2013. It specifically examined the effects of financial sector reforms variables namely ratio of domestic credit given to the private sector to Gross Domestic Product, prime lending rate, ratio of broad money supply to Gross Domestic Product. Others include percentage contribution of financial sector to Gross Domestic Product, Inflation and Dummy variable (a measure of pre-reform and post reform periods) on savings mobilization (measured by domestic savings ratio) in Nigeria. Using the ordinary least square (OLS) estimation technique, the time series data used in the study were sourced mainly from CBN statistical bulletin and Annual Report and Statement of Account. The result obtained from the regression analysis confirmed that financial sector reforms variables used in the study have been effective in enhancing savings mobilization in Nigeria. Hence the need for policy makers and regulators to initiate policies that will ensure stability of the financial sector, reduce lending rates and increase credit to the private sector.

Persistently, it is being insinuated that Nigerian federalism is one of the major challenges hindering the country's economic growth and development. This study analysed the effects of fiscal federalism on the growth of the Nigerian economy. This study made use of data on annual revenue allocations to the federal, state, and local governments, and annual investments, as the independent variable, and annual real Gross Domestic Product as the dependent variable. The study employed the Ordinary Least Square method for estimation, and the Augmented Dickey-Fuller Unit Root Test to check for the statistical properties of the variables.. The results show that it is only at the federal level that allocation is positive and significant. At the local government level, the allocation is positive but not significant and at the state level, it is even negative but not significant. Recommendations were made to improve the impact of fiscal federalism on economic growth in Nigeria; among such include the establishment of agencies to check for fraudulent activities in the lower levels of government, and a development of self-sustainable income levels by the lower levels of government. INTRODUCTION Over the years, Fiscal federalism has been in practice in Nigeria and its relevance has been a subject of debate. Fiscal federalism refers relations between units of governance in a federal system of government.A country's level of economic growth and development can be measured using some criteria such as increase in the level of output, per capita real income,

Compensation is a complex and controversial subject. Researchers, academicians and consultants have devoted much time and efforts to understand the innumerable factors that underlie top management compensation. Of more importance to this study is how compensation imparts on firms' performance. For some time now, executive compensation has been a matter of concern to corporate policy makers. Studies have shown that compensation is one of the most important strategies in human resource management; as it influences the productivity and growth of organizations. There is also a public outcry that insurance companies in Nigeria do not settle claims promptly; and in most cases only with the intervention of the regulatory bodies. There are many published issues on compensation that focus on organizational differences; there is little on whether compensation has any significant linkage with performance. Besides, improvement of corporate governance standards has been at the forefront of international debate in recent times. Compensation of directors and executives is one of the key issues in this debate. This study aimed at finding out if there is any relationship between remuneration and incentive systems on Nigerian insurance firms' productivity. The net claims paid to contributors depict a measure of productivity as perceived by the insured, while the returns on assets depict productivity from the shareholders perspective. The two represent the dependent variable for study. Introduction Compensation is a well debated topic. Sarkar and Jafar (2012) point out that researchers, academicians and those in practice have devoted much time and effort to understand the innumerable factors, which underlie top management compensation; particularly how it is related to firm performance. In the words of Yablon (1999), executive compensation has been a matter of concern to corporate law policy makers. However, Obasan (2012) is of the view that compensation is one of the most important strategies in the human resource management; as it influences the productivity and growth of an organization. According to him, though literatures abound on compensation that focuses on organizational differences, there is little debate on whether compensation has any significant linkage with performance. Yatim (2012) opines that remuneration and incentive systems have been shown to play a key role in influencing risk taking behaviours of managers in recent years. Improvement of corporate governance standards and disclosures has been at the forefront of international debate in recent times and compensation of directors and executives is one of the key issues in this debate. Compensation could define as rewards that employees earn on the basis of the value of their jobs, their personal contributions, and their performances (Obasan 2012). The reward could be monetary or otherwise. It could be indirect or direct rewards too. Obasan further states that the growing suspicion that compensation promotes productivity is in agreement with the early work of Peter Drucker. In 1956, Peter Drucker had written that 'happy workers are productive workers.' In line with this, Darmadi (2011) stated that compensation scheme is significant in motivating labour to perform their managerial duties; in line with the best interest of the shareholders. In regard of this, Erick et al (2014) explain that good compensation schemes motivate directors to make prudent decisions that maximize shareholders' wealth. In other words, compensation serves as a motivating force that encourages individuals within an organization to perform their duties effectively and efficiently.

Lack of vigilant oversight functions by the board of directors could be said to be the cause of corporate accounting improprieties. This study set out to determine the extent at which board size and structure affect corporate financial performance; determine the extent to which directors' stockholding affects corporate financial performance; and investigate the relationship between CEO duality and corporate performance. The study should be useful to investors, industry regulators and related professional bodies. Study used stratified random sampling technique to select samples from different sectors of the economy. Pearson correlation analysis and the linear multiple regression were used to study the multi co-linearity among the variables. Analysis of variance (ANOVA) was used to show which variables are dependent. Empirical findings show that institutions should embrace separation of the position of the chairman to the board and that of the chief executive officer. Further analysis shows that there exists a relationship between board size and performance; and that there is no effect of directors' stockholding on firm performance.

This paper aims at creating the necessary awareness that could bail out developing economies from continuous living in squalor. It highlights the major global economic and financial reforms as championed by the Basel III standards stipulated by Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS), which G-20 instigated. The paper presents a brief history of what led to Basel III standards and the lessons from it. It presents the Basel III global capital adequacy requirements and the relativity of the reforms to developing countries' banking institutions. In conclusion, suggestions are made on what the way forward ought to be for the developing countries. Summarily, there is the view that economic and financial reforms should not hamper, but enhance economic growth in the developing countries. Hence, the need to end the stunting roles that local economic and financial regulators play to compare with their peers in the developed economies.

This paper highlights the need for financial policy makers in Nigeria to live up in order to speed up the sustainable growth of the nation’s economy. Empirical evidences in the write up are considerably sufficient to shore up the thinking capabilities of the policy makers to see reasons why the cost of capital must be brought down low. Reading through the article is good for political leaders, researchers, financial authorities and scholars in all developing countries.

In recent times, the economic fortune of Nigeria dwindles as a result of a drastic fall in the price of oil in the world market coupled with the illegal bunkering and the Niger/Delta militancy. This calls for the need to diversify the economy. Tourism is one sector that can guarantee numerous benefits for a sustainable growth from the over reliance on the oil sector. This paper therefore, examined the prospect of tourism as a source of income generation, foreign exchange earner and a source of employment. The sources of data were secondary gotten from CBN Statistical Bulletin and the World Tourism Organization. The paper examined the relationship between tourism and economic growth using Ordinary Least Square, OLS. The result revealed that there is a significant, unidirectional and positive long run relationship between tourism and economic growth. This confirmed the tourism led growth hypothesis that tourism triggers economic growth because tourists’ spending provides foreign exchange earnings and job opportunities. The paper recommended provision of infrastructural facilities and improvement in security in order to motivate prospective tourists.