DEPARTMENT OF BANKING AND FINANCE

The study investigated stock market synchronization and market volatility in Nigeria for a period of 11 years (2009 to 2019). The rationale for the present study is predicated on the fact that the stock market play a significant role in the economy of every country across the globe. The study employed the regression analysis techniques on variables such as all share index (ASI), treasury bill rate (TBR), broad money supply (M2), oil price (OP) and exchange rate (EXRT). The empirical results revealed that; treasury bill rate (TBR) has a negative in significant effect on all share index in Nigeria within the period of investigation; broad money supply has a positive insignificant effect on all share index in Nigeria; Oil price(OP)exert significant and favourable impact on all share index in Nigeria; and exchange rate has a negative significant impact on all share index in Nigeria. The study recommends among others that; the Nigerian monetary authority should ensure exchange rate stability so as to encourage rate capital inflows in the economy; to ensure effective expansionary monetary policy in the economy, the Central Bank of Nigeria should strengthen the financial system so that broad money supply in circulation can contribute significantly to the performance of the capital market; and appropriate monetary measures should be undertaken to ensure stock price synchronization in order to the performance of the stock market in Nigeria.

Corporate mortality modeling refers to the process of predicting the likelihood of a company in a specific sector going out of business or experiencing financial distress. In the manufacturing sector, understanding and accurately predicting corporate mortality is highly important due to the complex and volatile nature of the industry. This work focuses on the analysis of corporate mortality in the manufacturing sector. The manufacturing sector plays a vital role in the global economy, employing a significant number of individuals and contributing to GDP. However, it also faces numerous challenges, such as intense competition, technological advancements, changing consumer demands, and economic fluctuations. The objective of this study is to develop a robust corporate mortality model specifically designed for the manufacturing sector. The model will incorporate various financial and non-financial factors that may influence the likelihood of a company going out of business. Financial factors such as profitability, liquidity, leverage, and solvency will be considered, along with non-financial factors such as industry dynamics, management quality, and market conditions. Data will be collected from a sample of manufacturing companies over a specific period of observation. This data will be used to build a predictive model using advanced statistical techniques such as logistic regression, survival analysis, and machine learning algorithms. The model will be validated using historical data and tested for its predictive accuracy. The results of this study will provide valuable insights into the factors that contribute to corporate mortality

This study examines the relationship between dividend policy and the financial performance of deposit money banks in Nigeria. Dividend policy remains a critical financial decision that influences investors’ confidence and the overall valuation of firms, particularly in the banking sector. The study adopts an ex-post facto research design and utilizes secondary data obtained from the annual reports and financial statements of selected deposit money banks listed on the Nigerian Exchange Group over a specified period.Key variables considered include dividend payout ratio, dividend yield, and retention ratio as proxies for dividend policy, while financial performance is measured using indicators such as return on assets (ROA), return on equity (ROE), and earnings per share (EPS). The data are analyzed using descriptive statistics, correlation analysis, and multiple regression techniques to determine the nature and strength of the relationship between dividend policy and bank performance. The findings reveal that dividend payout has a significant positive effect on the financial performance of deposit money banks, suggesting that consistent dividend payments enhance investor confidence and market value. However, retention ratio shows a mixed effect, indicating the need for banks to strike a balance between profit distribution and reinvestment for growth. The study concludes that an optimal dividend policy is essential for improving the financial performance and sustainability of deposit money banks in Nigeria. It recommends that bank management should adopt a stable and well-structured dividend policy that aligns with profitability, liquidity position, and long-term growth objectives

The relevant goal of this study was to empirically examine the relationship betweencredit risk management and financial performance of deposit money banks in Nigeriafor a period of 9 years (2009 to 2017). The rationale for the study was basedontherealization that credit risk is one of the most sensitive exposures facing the financial performance of any deposit money banks in the world today. Failure to ef ectivelymitigate its adverse ef ect, will spell doom for the banks. Descriptive statistics andcorrelation coef icient were used to examine the background characteristics of thevariables. The panel data analysis econometric technique was employed for the mainanalysis of the study. The findings from the empirical analysis, on the basis of the fixed ef ect indicatethat nonperforming loans and bank size have significant negative impact on the banks’ financial performance in Nigeria. While capital adequacy, loan loss provisionandliquidity ratio does not have significant impact on banks ’financial performanceinNigeria. The study recommends among others that; management needs to be cautious insetting up a credit policy that can be strongly linked with profitability in the banks. Management also needs to know how credit policy af ects the operation of theirbanks to ensure judicious utilization of deposits and maximization of profit. Impropercredit risk management reduces the bank profitability, af ects the quality of its assetsand increase loan losses and non-performing loans which may eventually leadtofinancial distress. Also, management should not solely concentrate on the profit maximization concept but should also adopt measures that will ensure ef ectiveliquidity management. These measures will help to minimize or avoid cases of excessive variation in banks ’ liquidity position..

This research delves into the realm of credit risk modeling within the life insurance sector. It setout with several objectives, including identifying effective methods for modeling credit risktailored to life insurance companies, evaluating the repercussions of credit risks on these insurers, investigating the advantages of extending credit to them, exploring the connection betweencreditpractices and the performance of insurers, and gauging the accessibility of credit facilities forinsurers. To conduct this investigation, a combination of descriptive and explanatory research designs wasemployed. Data collection encompassed the use of questionnaires and library research. Theprimary data sources consisted of responses gathered from 32 employees at AfricanAllianceInsurance Plc in Benin. Data analysis hinged on the chi-square statistical tool with a significancelevel set at 5%. The findings, displayed through frequency tables and percentages, unveiledthatinsurance companies grapple with substantial credit risks that have adverse effects ontheiroperations. Consequently, the study recommends that the Nigerian government and relevant stakeholdersshould collaborate to establish a credit model for insurance facilities that carries lower levelsof risk, in alignment with the insights derived from this research..

The study looks at the impact of consumer attitudes on insurance sales contracts in Benin Metropolis, Edo State, Nigeria. A structured questionnaire was sent across eight departments of the University of Benin's Faculty of Management Sciences in Benin City to collect primary data. Of the 110 questionnaires distributed, 100 were returned. We employed percentage analysis for demographic data, descriptive statistics for average responses to questions, and the Ordinary Least Squares (OLS) regression method to determine the impact of customer attitudes and other variables consider on insurance contract sales. The finding reveals that consumers’ attitude, employment and income have significant effect on insurance contract sales in Benin metropolis at 1%and5%level respectively (except for income). Thus, the study concludes that consumers’ attitudes affect insurance contract sales in Benin metropolis of Edo state, Nigeria.

The study looks at the impact of consumer attitudes on insurance sales contracts in Benin Metropolis, Edo State, Nigeria. A structured questionnaire was sent across eight departments of the University of Benin's Faculty of Management Sciences in Benin City to collect primary data. Of the 110 questionnaires distributed, 100 were returned. We employed percentage analysis for demographic data, descriptive statistics for average responses to questions, and the Ordinary Least Squares (OLS) regression method to determine the impact of customer attitudes and other variables consider on insurance contract sales. The finding reveals that consumer’s attitude, employment and income have significant effect on insurance contract sales in Benin metropolis at 1% and 5% level respectively (except for income). Thus, the study concludes that consumer’s attitude affect insurance contract sales in Benin metropolis of Edo state Nigeria.

This study investigated the impact of key macroeconomic variables on stock market performance in Nigeria over the period 1990 to 2023. Specifically, the study examines the influence of inflation rate, unemployment rate, GDP growth, interest rate, exchange rate, and crude oil prices on stock market capitalization, which serves as a proxy for market performance. Employing the Fully Modified Ordinary Least Squares (FMOLS) technique well-suited for addressing cointegration and correcting for endogeneity and serial correlation, the study found that inflation has a positive and statistically significant effect on stock market
performance, while unemployment exerts a significant negative impact. In contrast, GDP growth, interest rate, exchange rate, and crude oil price exhibit statistically insignificant effects. These results suggest that while some macroeconomic indicators directly influence market performance, others may be mediated through structural and institutional factors. The study recommended targeted inflation control, employment generation, economic diversification, and coordinated macroeconomic policy reforms to strengthen the responsiveness of Nigeria’s stock market to economic fundamentals.

The study investigates the relationship between external debt and economic development in Asian countries. The study adopts a quantitative research approach, utilizing statistical analysis to examine the relationship between external debt and economic
development in Asia. The outcome of the study revealed that external debt has a negative impact on GDP growth rate(D(GDPGR) and was statistically significant at 5% level. Inflation have negative impact on GDP growth rate ; and statistically significant at the
conventional significance level of 0.05; poverty rate was found to have negative impact on GDP growth rate while holding other variables constant and this variable was statistically significant at 5%. The study however recommends that policymakers should exercise caution when accumulating external debt. It's essential to ensure that external borrowing is used for productive investments that generate economic returns to cover debt servicing costs;continue to monitor and manage inflation to ensure it remains within an acceptable range. High and volatile inflation can disrupt economic stability and erode the purchasing power of citizens. Policymakers should prioritize poverty alleviation measures as an integral part of economic development strategies and ef orts to reduce poverty can include targeted social programs, job creation initiatives, and access to education and healthcare. Develop economic policies that promote inclusive growth, ensuring that the benefits of economic development are distributed more equitably across society.

This study investigates how the prudential guideline affects the performance of Nigeria's deposit money banks between the periods 2010 to 2022. In order to examine the panel data obtained from the financial reports of the different banks, the study used descriptive statistics, correlation analysis, and the Panel Least Square (PLS) approach. According to the findings, capital adequacy has a favorable and considerable impact on deposit money banks' performance while sensitivity to market risk have a significant and negative impact on deposit money bank performance. However, asset quality, earnings quality and liquidity ratio fail the significant test. The study comes to the conclusion that the performance of deposit money banks in Nigeria throughout the analyzed time is significantly influenced by capital adequacy and sensitivity to market risk. The study suggests that, in order to improve the performance of deposit money banks in Nigeria, the current capital adequacy ratio should retained since it improve the performance of deposit money banks in Nigeria. Also, since the performance of deposit money banks are impaired by increases in sensitivity to market risk. To enhance the performance of deposit money banks, sensitivity to market risk must be kept within an acceptable range