Department of Finance

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Finance

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The Department of Accounting within a university offers academic programs, courses, and research opportunities focused on accounting. It's typically part of a larger business school or college of business. Students can pursue undergraduate and graduate degrees in accounting, studying areas like financial accounting, managerial accounting, auditing, and taxation. Faculty members conduct research in various accounting-related fields. The department also provides resources for career preparation, such as career counseling, internships, and networking opportunities.

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Now showing 1 - 6 of 6
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    Financial Market as Channel to Financial Intermediation in the Growth of the Nigerian Economy
    (Lead City University, 2022-12) Oyedele Ayobami, LIPEDE
    The financial market is one wherein people and establishments change monetary securities. The aims and objectives of this study is to ascertain the performance of the cash market and capital market in Nigeria; examine the effect of market capitalization as a financial intermediation channel on the real Gross Domestic Product (GDP) of Nigeria’s economy; evaluate the money market’s effect as a financial intermediation channel on the real Gross Domestic Product (GDP) of Nigeria’s economy; and identify the nexus between money market, capital market as financial intermediation channels on real Gross Domestic Product (GDP) of Nigeria economy. The study adopted the ex-post facto research design. Data was collected through the secondary source from CBN Statistical Bulletin, the CBN Annual Report and statement for the relevant years (1990-2019), which was analyzed using the Ordinary Least Square (OLS) method with the help of E-views version 9. Findings found out that market capitalization is a significant financial intermediation channel on real Gross Domestic Product (GDP) of Nigeria economy. Descriptive statistics for the dependent and independent variables which are Certificate of Deposits (COD), Treasury Bill (TB), Treasury Certificate (TC) and Market Capitalization Rate (MCR), Gross Domestic Product, Interest rate (ITR) and Money Supply (M2) all have a positive mean value which ranges from 0.039667 to 4.167946with 30 observations It was recommended that the authorities have to each withinside the quick and long-run priotize regulations geared closer to increasing/growing cash markets operations in Nigeria to make the economic system greater stable. Keywords: Financial Market, Treasury Bill, Certificate of Deposits, Financial Intermediation, Gross Domestic Product (GDP), market capitalization Word Count: 245
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    Bankers Cashless Policy and Economic Performance in Nigeria
    (Lead City University, 2023-12) Oluwaseun Yinka ADEPOJU
    Advancement in technology in the banking sector in Nigeria has made it possible for the implementation of cashless policy in Nigeria. Bank users are encouraged to use alternative banking services provided with the aid of technology instead of the traditional banking hall services. However, this policy has some implication for banks, bank customers and the economy. This study therefore explores the bank cashless policy and economic performance in Nigeria . The data for variables in this study covered 2009Q1 to 2020Q4 and was analyzed using the ARDL method of estimation. The study found that in the short term, ATM and POS transactions have a positive impact on bank performance, while IB and MB, MI, have a negative impact. In the long run, only ATM has a significant positive effect on economic performance, while IB and POS have significant negative effects. BMI, INT, and LR have significant positive effects on both bank performance and economic performance. It was concluded that the cashless policy has a significant impact on the performance of banks and economic growth in Nigeria. It was recommended that banks need to carefully manage their adoption of the cashless policy channels and consider the short-run impacts on their performance, since most of the impacts in the short run are not immediate. Keywords: Cashless Policy, Electronic Banking, Economic Growth, Customers Satisfaction, Profitability and Bank Performance. Word Count: 221
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    Financial Planning and Management Performance of Listed Manufacturing Companies in Nigeria
    (Lead City University, 2023-12) Elizabeth Chiemeke IZILE
    This study examined the effect of financial planning on the management performance of quoted manufacturing companies in Nigeria between 2019 and 2023. The study employs panel regression analysis. The fixed-effect model and random effect model were used with a special focus on the heterogeneity of cross-sectional units, and the Hausman test with inference at a 5% significant level. The study reveals that firm showed a positive and significant effect on return on assets (coefficient = 0.1814; p-value = 0.0000). Leverage had a negative and statistically significant effect [β = -0.0577; P-value =0.0015] on the return on assets of quoted manufacturing companies in Nigeria. Liquidity (LIQT) shows a negative and statistically significant effect on return on assets [β = -0.32677 4.14. P =0.0000] of quoted manufacturing companies in Nigeria. The study ascertains that leverages and liquidity have a negative influence on the return on assets of quoted manufacturing companies in Nigeria. As a result, this study concludes that manufacturing businesses in Nigeria cannot optimise profit and shareholder wealth unless they pay close attention to the management of the various components of their finances. According to the report, listed manufacturing businesses in Nigeria should focus their efforts on financial planning to increase their ROA levels. The Liquidity and leverages period for manufacturing companies shows a negative effect on ROA, Therefore, this sector should focus on working on Liquidity and leverages in reducing its negative effect. Keywords: Financial planning, Leverages, Liquidity, Manufacturing companies, Management performance Word Count: 233
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    External Borrowing, Tax Revenue, and Infrastructural Development in Nigeria
    (Lead City University, 2023-12) Martins Olajide ADEWINLE
    Economic growth, improved living conditions, and a higher human capital development index all depend on investments in infrastructure. Even though these infrastructures are regarded as essential services, most developing economies lack the financial resources to keep up with their expanding infrastructural investment requirements. Extant literature has mixed thoughts on these issues warranting the need to empirically examine the interaction between external borrowing and tax revenue on infrastructure development in Nigeria. This study adopted the ex-post facto research design to examine the interaction between External Borrowing (EB), Tax Revenue (TR), and Infrastructure Development (ID) from 1991-2022 and adopted the Auto-regressive Distributed Lag (ARDL) model framework as the analytical technique to substantiate the hypotheses formulated. The ARDL long-run result at 5% showed that in Nigeria; EB had a significant influence on Government Expenditure (GE) on road construction (ꞵ = -0.258, p= 0.050); EB has a significant effect on GE on agriculture (ꞵ = - 0.436, p= 0.003); EB has a significant effect on GE on transport and communication in Nigeria (ꞵ = -0.483, p= 0.000); EB has a significant effect on GE on social and community services (ꞵ = -0.213, p= 0.050); and TR interaction with EB to significantly influence ID (ꞵ = -0.312, p= 0.007). The study concluded that EB and TR when efficiently utilized play a complementary role in enhancing ID in Nigeria. The study recommended that the Federal government of Nigeria needs to be systematic in their sourcing for funding to provide infrastructure development facilities. While EB is critical, looking inwardly to create additional tax means needs to be looked into because it is cheaper and the burden imposed by exchange rate fluctuations and interest rate payment on EB is very high and is not sustainable in the light of Nigeria’s economic growth and development. Although funding can be obtained internally and externally to address developmental challenges, researchers seem to have mixed thoughts on funding domestic investment through external borrowing. Some scholars claim it is insufficient, while others affirm its adequacy. Those in support claim that external borrowing will only aid infrastructure development only if it is used wisely in productive activities. Those who advocate internal borrowing argue that it offers result to the economy and create a less international burden on the need to pay back in foreign currency. This debate suggests that there is no consistency in finance literature regarding the relevance of debt for infrastructural development and also, this study argues for tax revenue because of its relevance as a source of revenue to the federal government. The advocacy is that if the government channels appropriate strategy to tax creation and collection, it can lower government debt exposure and enhance the provision of infrastructural amenities in the country. The argument also needs to be examined empirically. Although several studies have positioned the value of debt to infrastructural development, likewise how tax revenue can bolster economic growth through infrastructural development in developed and emerging economies. On this strength, the study examines the effect of external borrowing, tax revenues, and infrastructural development in Nigeria. Keywords: External borrowing, Tax revenue, Infrastructure development, Nigeria, Economic growth, Social Services Word Count: 500
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    Micro, Small and Medium Enterprises Financing and Poverty Level in North-Central Nigeria
    (Lead City University, 2023-12) Sunday Ade BELLO
    This study examined Micro, Small and Medium Enterprises Financing and Poverty Level in North-Central Nigeria. The focus of the study was on the six states of the North-Central Nigeria, one of the impoverished regions in the country. The effect of MSMEs access to credit services, turnover, profitability and employment creation on the poverty level in North-Central Nigeria was investigated in the course of the study. The study was anchored on the integrative theory. Convergent parallel design, a mixed-methods design was used. The population of the study included all the 5, 757,817 micro, small and medium enterprises in the North-Central Nigeria. The two-stage cluster sampling technique was adopted to obtain a total sample size of 384 respondents. Data for the study was collected through in-depth interviews, online surveys, and a well-structured questionnaire and analyzed using descriptive statistical methods and Ordinal Regression Method (ORM). The study revealed that MSMEs access to credit services has a negative impact on poverty level in North-central Nigeria as a unit change in MSMEs access to credit services will bring about 48.3% decreases in poverty level, also, MSMEs turnover has a negative and significant impact on the poverty level, a unit change or 1% change in MSMEs turnover will bring about a 23.6% decrease in poverty level. According to the study, since poverty is a mindset and a way of life, investing in training and character reform at the individual level is the only way to alleviate or eradicate poverty and any policy intended to combat poverty must be created in a way that ensures a successful, realistic, advantageous, and fruitful change in people's behaviour. The study concluded that formal and informal financing opportunities to help grow the MSMEs sector of the economy will significantly help to increase MSMEs operations and assist in alleviating the level of poverty in the North-central Nigeria. The study therefore recommended that Micro, Small and Medium Enterprises in the North-central, Nigeria should be empowered through different financing means such as low interest loan from Commercial banks, Microfinance banks, International development agencies, grant/support from the Central Bank of Nigeria and some of its agencies. Keywords: MSMEs, MSMEs Challenges, MSMEs Financing, North-Central Nigeria, Poverty. Word Count: >300
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    Financial Inclusion and Performance of the Small and Medium Enterprises in Ibadan, Oyo State
    (Lead City University, Ibadan, 2023-12) Abosede Adebola AMOO
    The study examined Financial Inclusion and Performance of the Small and Medium Enterprises in Ibadan, Oyo State. The target population for this study was made up of business centres, grocery stores and fashion houses in the Ibadan Southwest Local Government. This study adopted a quantitative survey technique because it was explanatory and related directly to the SMEs that were selected for the research. Data was collected from various sources through primary sources with the use of a structured questionnaire and other secondary sources of data to obtain relevant data from the participants. Statistical Package for Social Sciences (SPSS) software program was used to analyze the data. From the research findings, financial inclusion was found to be connected with financial stability, financial literacy, financial capability, market conducts and financial integrity of the SMEs, any strategies implemented by the government must therefore target these objectives not minding if the strategy of financial inclusion was meant to be a part of a comprehensive financial sector or a standalone strategy. It was discovered that SMEs can access finance through internal funds, venture capital, trade credit, business angels and crowdfunding with positive influence on their performance but huge borrowing cost of bank overdraft negates its impact. The performance of the selected SMEs was influenced positively using financial inclusion parameters of Financial Service Access, Usage and Quality as measurement. A limited perspective of financial inclusion, such as policies centering only on direct public funding are rare to give huge benefits. Preferably, significant, prudent, and unceasing SMEs funding access demands a comprehensive outlook which includes key elements identified from macro-economic, regulatory and legal aspects. This study concluded that improving SMEs financial inclusion can enlarge economic growth, innovation, creation of job, poverty alleviation, wealth creation and the success of budgetary and financial strategy can support their financial stability. Keywords: Financial Inclusion, SMEs, Performance, Strategy, Finance Word Count: 300