Faculty of Management Sciences

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A Check on Possible Bankruptcy of Companies Quoted on the Nigerian Stock Exchange
(ECONOMIC INDICATORS. The Nigerian Economic Summit Group, 2008) Sanni, Micheal Rotimi
A Publication of the Institute of Chartered Accountants of Nigeria: External Auditors' Liability in the 2009 Bank Crisis in Nigeria
(Nigeria Research Journal of Accountancy (NRJA), 2010) Sanni, Micheal Rotimi
This paper discusses the duties of an external auditor, the modus operandi of his work, the auditing requirements of companies and the role of management boards. Citing mainly foreign decided cases on auditors' ability to buttress its points, the paper concludes that though there has not been any external auditor that has been dragged to Nigerian court for negligence; it may be difficult to find the auditors liable under the present circumstances. This is because auditors' liability to third parties has been narrowed down with the Caparo case. This notwithstanding, the paper recommends that more reasonable skill and care should be exercised by auditors in order not to further drag their profession into the mud
A Review of the Challenges that Affect the Quality of Research in Accounting in Nigeria and the Way Out
(CPGS(College of Postgraduate Studies) RUN, 2022) Sanni, Micheal Rotimi
Many people believe that management research has little impact on management practice. It is documented that management academic research findings (accounting inclusive) that are published in scholarly management publications have little to no application in real-world settings and that managers who use the results of such research rarely achieve their goals. Despite having a large number of research institutes, universities, polytechnics, and monotechnics funded by the federal, state, and private sectors, Nigeria faces a number of challenges and brain drain. The inability of African research outputs to regularly compete favorably with international researches is of great concern. Recent university rankings typically show that, with the exception of a few South African universities, the majority of African universities perform poorly. For instance, the African Economic Research Consortium (AERC), universities, and other African and international stakeholders all agreed that the best way to address the quality of research outputs in the continent would be through a collaborative PhD degree programme. Findings from exploratory research method used for this study revealed that the quality of researches in accounting is affected by the challenges faced by doctoral accounting students, challenges faced by academia and research institutes and that practitioners hardly use outputs of such researches. Findings further showed that the outputs of research findings in accounting are not visible, unlike those in the medical, pure and applied sciences. The outputs, when applied, take longer time to manifest, leading to the wrong notion that they are not applicable. The study recommended ways to mitigate the challenges It also recommended collaboration between researchers in accounting and practitioners in order to bridge the existing gap between them.
Adoption of Human Resources Management Policies for Practices: Harvard Model Versus Religious Model
(Sciedu Press, 2018-02-27) Ojo, Afolabi
The paper set out to explore two different models of Human Resources Management as a policy for practice that will be adequate for adoption by any organisation. The Harvard and Religious models were the two models critically examined vis – a – vis their implications on the practice of Human Resources Management (HRM). It was revealed that Harvard model of HRM is a content model as it is contingent on specific core issues (work system, reward system, employees’ influence and flow of people) in human resources management while Religious model of HRM is a process model as it is based on identification of relationship among components units (management and employees) Harvard model of HRM as a policy is embedded in the organisation through congruence, commitment, cost effectiveness and competence and Religious model of HRM is anchored on value based ideology through morality, honesty, sincerity, fairness and integrity. The two models are practicable but Harvard model of HRM has no exception to a particular party in business organisation while Religious model of HRM is averse to development of trade union in organisation. Therefore, the adoption of the two models will make world of work conducive, however, Harvard model of HRM aligned more with the nature and belief of business. However, combination of the two models to give a contingency – hybrid model will make the workplace to be better than adopting one of the models
Adoption of IFRS and Financial Statements Effects: The Perceived Implications on FDI and Nigeria Economy
(2012) Okpala, Kenneth
Adoption of International Financial Reporting Standards (IFRS) and Quality of the Central Bank of Nigeria (CBN) Financial Reports
(2018-10) Olasupo, Sunday Festus
The study examines the effect of IFRS adoption on the quality of CBN financial reports. Consequent upon the adoption of IFRS in Nigeria and the staged implementation plan necessitating Publicly Listed Entities (PLCs) and significant Public Interest Entities (PIEs) to implement IFRS by 1st January 2012, CBN was required to adopt this set of standards. The study employed the descriptive and explanatory research design while secondary data was obtained from CBN Annual Reports and Statistical Bulletins from 2005 to 2015 indicating pre and post IFRS adoption era. Data analysis was conducted by means of the descriptive and inferential statistics while the Autoregressive Distributed Lag (ARDL) was used as the regression model. The result showed that at 5% level of significance, IFRS adoption has a significant effect on the quality of CBN financial reports though positively in the short-run but negatively in the long-run. IFRS standards which are much more targeted towards special legal entities as central banks should thus be looked into as it will invariably influence the quality of her financial reports.
Adoption of International Financial Reporting Standards and Financial Performance of Quoted Firms in the Brewery Industry in Nigeria
(Ibadan Planning Journal, A Publication of Department of Urban and Regional Planning, Faculty of the Social Sciences, 2017) Sanni, Micheal Rotimi
International Financial Accounting Standards (IFRS) become mandatory in Nigeria in 2012. This paper evaluated the adoption of IFRS on the financial performance of Nigerian quoted brewery firms. Data were sourced from published financial statements of two leading firms that control 92% of brewery market on profitability ratios proxy with Return on Assets (ROA) and Return on Equity (ROE) for eight year period (2008-2015). Paired sample t-test statistics was used to analyse the fours year pre- -IFRS adoption period (2008-2011) and four years post-IFRS adoption period (2012-2014). The results of the analysis showed that ROA reduced significantly by 0.18$75 after the adoption of IFRS (p= -0.0000), ROE also reduced significantly by 0.2300 (p = 6010). While the findings contradict some existing works, they confirm others. The reduced profitability cannot solely be attributed to adoption of FRS as profitability gradually reduced during the pre-IFRS adoption period. The harsh economic challenges faced by the country in the last few years can as well be responsible.
Agricultural and Solid Minerals Marketing: Nigeria's Imperative
(Ife Journal of Entrepreneurship and Business Management, 2016) Agada, Solomon Agada
Nigeria is blessed with several natural resources that are widely distributed across the country as well as a vast and fertile land However, the dominance of oil as a major foreign exchange earner has led to under-dependence on the agricultural and solid minerals sectors. Since the beginning of the oil boom, these sectors have been neglected as major sources of revenue by the government. Although some efforts have been made by establishing agencies like the Nigerian Mining Corporation, the Nigerian Coal Corporation, Solid Minerals Development Commission in the solid mineral sector, Agricultural Commerciakation Programme and Agricultural Development Programme in the agricultural sector, the impact on Gross Domestic Product (GDP) has been insignlficant. With the current nosedive in crude oil prices leading to a reduction in foreign exchange revenue, there is urgent need to divers the revenue base of the country. To this end, this paper examined the agricultural and solid minerals sectors in Nigeria and provided some recommendations on how marketing concept and strategies can be applied to promote the sectors for economic growth and development.
Agricultural and Solid Minerals Marketing: Nigeria's Imperative
(Ife Journal of Entrepreneurship and Business Management, 2016) Ighomereho, Salome
Nigeria is blessed with several natural resources that are widely distributed across the country as well as a vast and fertile land However, the dominance of oil as a major foreign exchange earner has led to under-dependence on the agricultural and solid minerals sectors. Since the beginning of the oil boom, these sectors have been neglected as major sources of revenue by the government. Although some efforts have been made by establishing agencies like the Nigerian Mining Corporation, the Nigerian Coal Corporation, Solid Minerals Development Commission in the solid mineral sector, Agricultural Commerciakation Programme and Agricultural Development Programme in the agricultural sector, the impact on Gross Domestic Product (GDP) has been insignlficant. With the current nosedive in crude oil prices leading to a reduction in foreign exchange revenue, there is urgent need to divers the revenue base of the country. To this end, this paper examined the agricultural and solid minerals sectors in Nigeria and provided some recommendations on how marketing concept and strategies can be applied to promote the sectors for economic growth and development.
Agriculture, Food Security and Poverty Reduction in Nigeria: Cointegration and Granger Causality Approach
(2022) Omoyele, Samuel Olufemi
Provision of sufficient food and elimination of abject poverty have usually been the conventional benefits of agriculture to any society. Meanwhile, despite the fact that Nigeria is an agrarian society, food insecurity and poverty have become the issues of concern among both scholars and policymakers in the recent times. Against this backdrop, this study examined the nexus among agriculture, food security and poverty reduction in Nigeria from 1990 to 2019 within the framework of Cointegration and Granger Causality approach. Data was collected from the Statistical Bulletin of the Central Bank of Nigeria and the World Development Indicators respectively. The following are the major results that emanated from the study. A long run equilibrium convergence exists among agricultural valued added, food production index and GDP per capita in Nigeria. Similarly, there is a unidirectional causality which flows from food production index to poverty reduction in Nigeria. In the same vein, one way causality flows from poverty reduction to agricultural value added in the country. Consequently, this study makes the following recommendation for the policymakers in Nigeria, and other African countries by extension, that agricultural value added and food production are the important variables that cannot be undermined when poverty reduction occupies the central focus of the policymakers. Therefore, any time these policymakers want to reduce poverty, policies that will drive agricultural value added and food production should be embarked upon.
Airline Services in Nigeria: An Empirical Analysis
(Medwells Journal, 2011) Oluwakoya, Adeniyi
The aftermath of deregulation and liberalisation of the Nigerian aviation sector reveals itself in increasing demand for airline services at the Nigerian air terminals. The non competitve regime is seemingly a corollary of policy intervention to induce growth in quodam public dominated subsector. Such impact will no doubt attract passenger services variance levels. Th methodology for this study use the primary data and the documentary searches which is the secondary data source, the hypothesis was tested using t-test, ANOVA and regression analysis to draw conclusion on the interaction of the variables of the independent and dependent variables of the airline services impacts. The study assesses the level of effectiveness, efficiency and reliability of the Nigerian air services providers in the light of the perspectives of the users of domestic airline services in the country as well as the socio-economic characteristics of the travelling passengers in the country. The study revealed that indeed the reforms in the aviation industry have led to enhanced services delivery by the airline operators in the Nigerian domestic terminal.
An Empirical Analysis of Public Borrowing and Economic Growth in Nigeria
(Academic Research Publishing Group, 2020) Ayodele, Thomas
This study seeks to evaluate the impact of public borrowing on economic growth in Nigeria using time series data from 1980 to 2018. Specifically, the study seeks to analyze the effect of domestic debt (proxy by Federal Government Bonds FGB) and external debt (proxy by International Monetary Fund Loan-IMFL) on Nigerian’s Gross Domestic Product (GDP). To achieve this objective, secondary data was collected from the Central Bank of Nigeria Statistical bulleting and the Debt Management Office of Nigeria. A multiple regression model involving the dependent variable (GDP) and the independent variables (FGB and IMFL) was formulated and subjected to econometric analysis. These variables were adjusted with the Jarque-bera test of normality while the correlation result was used to check the possibility of multi collinearity among the variables. The t-test was used to answer the research questions and test the formulated hypotheses at the 5percent statistical level. Results from the analysis show that a positive relationship exists between IMF Loan and Nigeria’s gross domestic product, while a negative relationship exists between FG Bonds and Nigeria’s gross domestic product, which violates the Keynesian theory of public debt. The study concludes that both domestic and external debt significantly affect economic growth in Nigeria. Therefore, it was recommended that public borrowing should be efficiently used and contracted solely for economic reasons and not for social or political reasons as this will help to avoid accumulation of debt stock overtime.
An Exploratory Investigation of Foreign Portfolio Investment in Money Market Instruments and the Nigerian Stock Market Performance
(The Internatinal Journal of Business & Management, 2019) Iriobe, Grace
This paper investigated whether foreign portfolio investment in money market instruments have an influence on the performance of the Nigerian stock market. The study employed ex-postfacto research method using monthly time series data for 11 years between 2007 and 2017. The Autoregressive Distributed Lag (ARDL) model was used to specify the influence of foreign portfolio investment in money market instruments on stock market performance. The results of the analysis revealed a significant and positive relationship between foreign portfolio investment in money market instruments and the performance of the Nigerian stock market (t-stat= 2.6110; P= 0.0258<0.05; R2 = 0.77). The study concluded that foreign portfolio investment in money market instruments had significantly predicted stock market performance in Nigeria. Hence, the study recommended that policies formulated towards a more developed stock market should consider importance the influence of foreign portfolio investments in the market
Analysis of the Privatization Exercise of Power Supply Chain in South West Nigeria
(Ilorin Journal of Business and Social Science, 2016-04-30) Ogundipe, Oluwaseun
This study assessed the impact of privatization exercise in the power sector of the consumers in Nigeria. The study utilized the Pressure Activity State Impact Response (PASIR) network and theories of organic evolution of property rights to examine the impact of privatization on consumers. Both qualitative and quantitative techniques were used in analyzing the collected data. Focus Group Discussion was employed to analyze the effect of the reform of the power supply chain on consumers in 3 out of 11 newly constituted Distribution Companies (DISCO), these are Eko, Ikeja and Ibadan Distribution Companies. Similarly 200 respondents were purposively sampled in Mowe, a suburb of Lagos metropolis, from which 105 questionnaires were retrieved for analysis. Two hypotheses were tested in the study. The first, there is no significant difference in the flow of information, power supply and billing system between affluent and poor neighborhoods was supported by the findings (a p < .001). The second, ongoing privatization exercise has significantly improved the billing system, power supply, and information flow was also supported by the findings. The study recommends that the new managers should not place emphasis on economic factors only but also on noneconomic factors particularly information flow and equitable energy distribution
Analytical Study of Supply Chain Collaboration Guiding Forestry Products Supply in a Developing Economy
(Int. J. Business Performance and Supply Chain Modelling, 2016) Ajayi, Adeyinka
This research is an empirical assessment of wood products supply chain in a developing economy using Bodija wood market in Ibadan, Nigeria as case study. The study examined the nature of supply chain collaboration employed by the operators to achieve their business objectives and the roles played by extant government rules guiding SC of wood products. The study is based on a randomly selected set of 147 constituents of the SC. Two hypotheses were tested in the study, evidence from the study shows that supply chain relationship is positively influenced by reduction in operational costs and higher levels of customer’s relationship. Further analysis shows that extant governmental policies have significant influence on supply chain performance (SCP) .Policies on taxation, and forest management techniques have strong influence on achievement of benefits of the chain. The paper suggests tangible business and policy measures for the development of wood products SC in Nigeria.
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
Anticipated Impact of Monetary Union on Bilateral Trade among ECOWAS Members
(Journal of Global Economics, Management and Business Research, 2017-03-07) Iriobe, Grace
The pattern of growth of International Trade and Bilateral Trade among West African Countires 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 (pvalue=. 001< alpha value=. 05). Therefore, we conclude that the development of monetary union has significant impact on bilateral trade in ECOWAS.
Anticipated Impact of Monetary Union on Bilateral Trade among Ecowas Members
(International Knowledge Press, 2017-03) Akinyede, Oyinlola
The pattern of growth of International Trade and Bilateral Trade among West African Countires 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 (pvalue =.001 < alpha value =.05). Therefore, we conclude that the development of monetary union has significant impact on bilateral trade in ECOWAS.
An Application of Consumer Price Index in Marketing and Sales Management
(Redeemer's University Journal of Management and Social Sciences, 2014) Ighomereho, Salome
Index number is a special type of average which helps to measure economic fluctuations on price level and it is an indispensable tool of economics and business analysis. It is very useful in measuring relative changes in the value of money and for deflating nominal data to real data. This paper examined the various methods of constructing index number and the index number theories that generated the methods. In addition. the paper demonstrated the usefulness of index number in marketing especially in sales management using secondary sources of data which include the annual turnover of 7-UP Bottling Company Plc from 2001 to 2012 and Consumer Price Index (CPI) for the same period. The analysis indicated that real sales give a more realistic trend than nominal sales. By adjusting for inflation, managers can uncover the real growth in sales because it stabilizes the variance of random or seasonal fluctuations and highlight cyclical patterns in the sales data. Therefore, it was recommended that business managers in general and marketing managers in particular should index sales values whenever there is need to analyze sales trend.
Appraisal of Factors Influencing Tax Avoidance and Evasion in Nigeria
(2013) Okpala, Kenneth

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