Department of Accounting

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Anticipated Impact of Monetary Union on Bilateral Trade among ECOWAS Members
(Journal of Global Economics, Management and Business Research, 2017) Worimegbe, Temitope
The pattern of growth of International Trade and Bilateral Trade among West African Countries has again brought to light the need for a common currency aimed at financial integration of the ECOWAS community. In this light, this study adopts the explanatory survey design and uses the questionnaire as a primary research instrument to solicit responses from experts in monetary policy, foreign exchange and international business with a view to examine and analyze the potential impact of the proposed ECO currency on Bilateral trade among the ECOWAS members. Data was analysed using the simple linear regression to determine the relationship between the dependent (bilateral trade) and the independent variable (monetary union). Findings from the study indicate there is a positive linear relationship between bilateral trade and monetary union; consistent with Akinyede (2014). The relationship is moderate and significant at 5% level of significance (p value =.001 < alpha value =.05). Therefore, we conclude that the development of monetary union has significant impact on bilateral trade in ECOWAS
Efficiency, Customers' Satisfaction and Deposit Money Banks' Performance in Nigeria
(University of Economics in Katowice, 2018) Worimegbe, Temitope
Aim/purpose – The study seeks to explore the technical efficiency of Nigerian banks using production approach and; to establish the relationship that exists between technical efficiency, customers’ satisfaction and bank performance in the face of a volatile economy. Design/methodology/approach – Data used in achieving the research objectives were from both primary and secondary sources. The Data Envelopment Analysis (DEA) and Structural Equation Model (SEM) were employed in the analysis of data. 600 hundred questionnaires from 18 deposit money banks. Findings – The study reveals that technical efficiency leads to customers’ satisfaction. The findings also show that customers’ satisfaction affects bank performance. Further-more, efficiency influences banks’ financial performance and this indicates that banks that pursue improved financial performance using a singular approach may be fundamentally misguided. Research implications/limitations – The study has important implications because it suggests that Deposit Money Banks should concentrate effort firstly on efficiency before customers’ satisfaction. Bank managers should also seek better way of meeting customers need thereby increasing their customers’ satisfaction and increasing bank financial performance. The study is limited in scope since it does not look at other approaches in measuring bank efficiency; further studies should consider using intermediation, user-cost, asset, modern and value-added model approaches in measuring bank efficiency. Originality/value/contribution – The study focuses solely on deposit money banks in Nigeria and empirically analyses the effect of efficiency, customers’ satisfaction on financial performance of deposit money banks in Nigeria
Environmental Accounting Disclosure Practice of Quoted Manufacturing Companies in Nigeria
(Global Journal of Business, Economics and Management: Current Issues, 2021) Worimegbe, Temitope
The study assessed the level of environmental disclosure practice of manufacturing companies in Nigeria. Anchored on the legitimacy theory, the ex post facto research design was adopted by the study. The sample was drawn from a population of 60 quoted manufacturing companies on the floor of the Nigerian Stock Exchange as on 31 December 2017 using the judgmental sampling technique. The study variables were sourced from the annual reports and the stand-alone environmental reports of the selected companies from 2007 to 2017. The global reporting initiative environmental disclosure index was adopted in assessing the disclosure practice of the companies over the years. The findings showed that the environmental disclosure practice of the quoted manufacturing companies was low in the areas of material, energy, emissions, effluent and waste, water and biodiversity. A good number of the manufacturing companies disclosed very well the theme ‘others’ in the area of environmental expenditure and investment. The study further observed a non-significant statistical difference in the disclosure practice of manufacturing companies over the years (t = −1.440, p = 0.223). The study concluded that there exists no significant difference in the level of environmental disclosure practice of manufacturing companies in Nigeria from 2007 to 2017.
The Extent to Which Political and Economic Risks have Affected the Tourism Industry in Nigeria
(2019) Worimegbe, Temitope
Objective: The study aims to determine the extent to which political and economic risks have affected the tourism industry and the economy in Nigeria. Prior Work: In recent times, there has been a clamour for the development of the Nigerian tourism industry but such has been beset by a spate of religious intolerance, insurgency, and changes in government, among others. There seems to be dearth of literature and empirical evidence to show the extent to which political risk has influenced tourism in Nigeria. Approach: Time series secondary data from the World Travel and Tourism Council, 2017 were used in the regression analysis. Regres sion statistical technique was used to examine the relationship between political and economic risk and tourism in Nigeria specifically between 2006 and 2017. Results: The study adopted a regression approach and found out that causality exists and there is a positive significant relationship between political and economic risk in Nigeria. Implication: The result of the relationship shows that political and economic risk have effects on tourism, and tourism has a significant impact on the economy. The significant effect of political and economic risk on tourism calls for adequate security in the country, and better legal and institutional frameworks. This will enhance the economic impact of tourism on the Nigerian economy
Gamification and Customers Experience in the Hospitality Industry
(Journal of Tourism and Services, 2020) Worimegbe, Temitope
The application of gaming techniques and its measurement have engendered many discussions. Premised on the gamification dimensions of loyalty programs, advertising, and promotions, and creating or developing new services, this study examines the effect of the dimensions of gamification on the elements of customers' experience in the Hospitality industry. Utilising the survey research design and two-stage sampling technique, 700 customers of hotels and restaurants were sampled in the Nigerian Hospitality sector. The multivariate analysis was used in data analysis. The results reveal that gamification significantly affects customers' experience. The findings showed that creating new services is the most significant measure of gamification affecting customers' experience. The study also established that loyalty programmes, advertising, and promotion, and creating new services as dimensions of gamification are drivers of customers' experience. Firms in the service sector should pay attention to the issue of gamification in order to create a better customer experience, which could sustain competitiveness in the long-run. The study recommends that gamification strategies should be utilized in the hospitality industry. Emphases should be placed on making sure the customers' have peace of mind while patronizing the hospitality and tourism industry. The study contributes to the literature on the utilization of gamification in the Hospitality industry. The study analyzed the interaction between gamified services and customers' experience by utilizing each element of gamification separately
Gamification and Firms Competitiveness: An Analysis of Deposit Money Banks
(2021) Worimegbe, Temitope
Purpose – This study investigates the influence of gamification on the competitiveness of financial sector companies. The dimensions of gamification related to financial services are premised on product development, market ing and sales activities, and customer services. Design/Methodology/Approach – Employing the survey research design, 662 bank employees of Nigerian banks forming the sample took part in the research by filling out structured questionnaires. The partial least square structural equations model was utilised in the analysis of data in the study. Findings and Implications – The result reveals that gamification dimensions positively affect competitiveness. The findings further indicate that product development, marketing and sales activities, and customer service positively and significantly affect the firm’s competitiveness. The practical implication of this is that deposit money banks should pay attention to gamification to maintain competitiveness. More attention should also be paid to credit sourcing, referrals and lead generation, and self help application in order for firms to achieve and maintain competitiveness. Limitations – This study examined the gamification impact on competitiveness using the banking sector as a theatre of the study. The study employed non-financial measures of competitiveness in arriving at conclusions. Originality – The study provides an insight into how gamification can be significantly put into practice in re al-life scenarios and businesses to achieve competitiveness
Impact of Environmental Cost on the Profitability of Quoted Manufacturing Companies in Nigeria
(Independent Journal of Management & Production (IJM&P), 2021) Worimegbe, Temitope
Corporate involvement in environmental initiatives and reporting is essential for increasing and sustaining performance in a dynamic and changing environment. However, this involvement in environmental activities is not without costs implication. Hence, business managers tend to sacrifice engaging and reporting environmental initiatives for economic benefits. This study examined the impact of environmental costs on the profitability of quoted manufacturing companies from 2007 to 2017. The study used the ex-post facto research design. Twenty mentioned manufacturing companies were purposively drawn from the population of sixty manufacturing companies listed on the floor of the Nigerian Stock Exchange. The study variables were sourced from the annual reports and accounts as well as the stand-alone environmental information of the selected companies over eleven years from 2007-2017. The cost incurred on environmental initiatives to the community and training of employees on environmental concerns were used as proxies for environmental cost. At the same time, the DuPont return on equity was proxy for profitability. The findings from the panel random-effect regression analysis showed that asset use efficiency (F = 3.368, p = .01) and equity multiplier (F = 3.3301, p = .01) were significantly influenced by environmental cost; while operating efficiency (F= 0.5158, p = .72) was not significantly impacted by environmental cost at 5% level of significance. As such, in this study, the asset use efficiency and equity multiplier are the main drivers of a significant increase in the return on equity of quoted manufacturing companies in Nigeria from 2007 to 2017. The study, therefore, concluded that environmental costs significantly affect the profitability of quoted manufacturing companies in Nigeria.
Impact of General Elections on Financial Market in Nigeria
(Humanities, Arts and Social Sciences Studies, 2022) Worimegbe, Temitope
This study investigated the pre-and-post-event impact (PEI) of general elections on the financial market in Nigeria. Specifically, the study investigated the impact of the general elections on stock returns; money market and the currency market in Nigeria. Political instability increases financial vulnerability in countries having weak economic fundamentals and these are peculiar with emerging economies where political-institutional instability is on the rise. Twenty-four months data was analyzed comprising twelve months pre and twelve months post election with the election month as the base month. The monthly all shares index, certificate of deposit issued, notes and deposit certificates, and official exchange rates for 1999, 2003, 2007, 2011 and 2015 election years were used to examine the impact of the general elections on financial markets in Nigeria using event study. The findings showed that the political environment has strong synergies with the economic and real sectors of the economy. Therefore, the general election had a significant impact on the three markets. Findings also showed that the stock, money and currency markets’ returns were influenced by money supply and change in election periods. Therefore, the study recommends that government should engage in effective regulation of the financial market and electoral institution as well as stimulate the economy after the election through appropriate expansionary policies.
Measuring the Impact of Treasury Single Account on the Failure of Financial Institutions
(European Journal of Applied Business Management, 2019) Worimegbe, Temitope
Purpose: This paper evaluated the impact treasury single accounts on the failure of financial institutions in Nigeria. The objective was to determine the influence of the huge cash extraction from Deposit Money Banks which reduced the amount of cash in circulation. The exercise threw most of the commercial banks and the associated institutions financially off balance which negatively affected banks liquidity level and its ability to create credits. The issue also increased bank lending rate, triggered off staffs downsizes which worsen the unemployment situation in the first quarter of 2017 and was perceived to affect the real sector at the long run. Design/Methodology/Approach: A survey research design approach was adopted. The population of the study consist of 99 financial institutions in the Nigerian business directory. 30 companies with 450 management staff were used as the study sample. Primary data were collected through copies of questionnaire administered and 325 valid responses were returned and analyzed. The response rate of 72% achieved was considered good enough for the analysis. Regression analysis technique with the aid of E-views (Version 9.5) was employed to measure the strength of the relationship between the variables. Findings: Evidence obtained from the analysis results confirmed that deposit money bank liquidity crisis has significant effect on other financial institution liquidity crunch (R = .868 R2 = 854; P < .05) and Treasury single account (TSA) has significant impact on the failure of financial institutions (R = 0.878; R2 = 872; P < .05). Therefore all null hypotheses were rejected and the alternates not rejected. Research limitations: This study has two known limitations. The first is the size of the population (30 top financial institutions (distributed among deposit money banks, insurance and investment companies). This is regarded as small compare to the total population. Second, the study concentrated on a sub-sector of Nigeria economy. Result may vary if other sectors affected by the treasury single accounts exercise are included in the study. Pratical implications: The two hypotheses developed and tested indicated that the sub variables of the independent have significant impacts on the dependent variable. The study concluded that Treasury single account (TSA) has significant influence on the failure of financial institutions in Nigeria. This is because deposit money bank liquidity crisis would negatively propel all financial institutions liquidity crunch through multiplier effect. Therefore the study concluded that Treasury single account had reliably predicted the failure of financial institutions in Nigeria. Originality/Value: To the best this researcher’s knowledge, no study was conducted to examine the relationship between treasury single accounts and failure of financial institutions. This has prevented conclusion in this direction. In order to address the identified gaps in the literature created by the omission, this study developed two hypotheses to enable the researcher explore the influence of TSA on the failure of financial institutions in Nigeria. The study first examined the linkage between liquidity problem of DMBs and that of other financial institutions and then the impact of TSA on the failure of financial institutions.

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