DEPARTMENT OF BANKING AND FINANCE

This study examines the inventory management and the performance of manufacturing firms in Nigeria

This study sought to examine financial consumer protection, financial inclusion and efficiency of financial markets. The study utilised the descriptive survey research design. The study adopted the simple random sampling technique which allows all units in the population to have an equal chance of being selected. This implies that the researcher will randomly distribute questionnaires to three hundred and eighty-five (385) respondents who are POS service providers, customers of POS services, as well as other financial consumers in Benin City, Edo state. It revealed that: that financial consumer protection has significant effect on financial market efficiency, the regression analysis revealed that financial consumer protection has significant effect on financial access and the result indicates that financial consumer protection has significant effect on financial inclusion in Nigeria. Based on this findings it was recommended that: it is crucial for policymakers and financial institutions to enhance consumer protection mechanisms, Policymakers should work with financial institutions to develop and promote products and services that cater to the needs of low-income individuals and those in remote areas and Policymakers and regulatory bodies should regularly assess the effectiveness of existing policies and make necessary adjustments based on evolving market dynamics and consumer needs

This study examines the relative effects of financial development and economic growth on environmental degradation in selected Sub-Saharan African (SSA) countries that includes Cote d’ivoire, Ghana, Kenya, Mauritius, Namibia, Nigeria and South Africa. Specifically, the study considered the roles of different financial system development factors on the environment, while also examining the impacts of economic growth on the environment using the environmental Kuznets curve (EKC) formulation. The study also examined the possible direction of causality between environment degradation and both economic growth and financial development among the countries, as well as the influence of financial development on the relationship between economic growth and environmental degradation. Environmental degradation is measured by the tonnes of carbon emission per country and the rate of ecological footprint which was further divided into per capita footprint on cropland and per capital footprint on built land. Financial system development is measured using both the
money and capital markets variables which include credit to the private sector, liquidity in the economy, market capitalization, and stock market turnover. A panel data of seven (7) selected SSA nations for the period of 1990 to 2021 is employed in the analysis, while the Mean Group (MG) and the Pooled Mean Group (PMG) techniques are employed to estimate the long-run and short-run relationship amongst the variables for the panel analysis.

This study sought to examine financial consumer protection, financial inclusion and efficiency of financial markets. The study utilised the descriptive survey research design. The study adopted the simple random sampling technique which allows all units in the population to have an equal chance of being selected. This implies that the r searcher will randomly distribute questionnaires to three hundred and eighty-five (385) respondents who are POS service providers, customers of POS services, as well as other financial consumers in Benin City, Edo state. It revealed that: that financial consumer protection has significant effect on financial market efficiency, the regression analysis revealed that financial consumer protection has significant effect on financial access and the result indicates that financial consumer protection has significant effect on financial inclusion in Nigeria. Based on this findings it was recommended that: it is crucial for policymakers and financial institutions to enhance consumer protection mechanisms, Policymakers should work with financial institutions to develop and promote products and services that cater to the needs of low-income individuals and those in remote areas and Policymakers and regulatory bodies should regularly assess the effectiveness of existing policies and make necessary adjustments based on evolving market dynamics and consumer needs.

The purpose of this study was to investigate the effect of cashless policies on economic growth in Nigeria. The research aimed to examine the impact of cashless policies on economic growth in Nigeria, identify the challenges of implementing a cashless society, and suggest ways to improve monetary policies to promote economic growth and development in Nigeria. The study employed a descriptive and explanatory design, utilizing both primary and secondary data sources, and data was analyzed using the Pearson Product Moment Correlation technique. The results of the study indicate that the cashless policy implemented by the Central Bank of Nigeria (CBN) and monetary policies as a means of economic management have the potential to promote sustainable economic growth and development through banking, but face challenges such as limited internet access. The study also used economic indicators such as Gross Domestic Product (GDP) to examine the positive or negative impact of the cashless policy on Nigeria's economy, including changes in growth trends and inflation. The challenges and perspectives identified in the study could assist stakeholders in developing strategies to overcome these challenges and improve the Nigerian economy

s study examines the complex relationship between credit risk management strategies and the financial performance of Deposit Money Banks (DMBs) in Nigeria. The study analyzes the impact of important variables, including Return on Equity (ROE), Non-Performing Loans (NPLs), Loan Loss Provision (LLP), Liquidity Ratio, and Risk Asset Ratio, on the overall health of the banking system. The study uncovers significant insights by employing panel regression analysis from 2014 to 2022. The findings demonstrate a positive connection between successful
management of credit risk, as seen by cautious provisioning for loan losses, and consistent profitability. In contrast, Non-Performing Loans have a negative effect on Return on Equity, highlighting the importance of implementing strategic initiatives to reduce loan defaults. The study highlights a trade-off between the management of available cash and the potential to generate profit, underscoring the need of adopting a well-balanced strategy to ensure financial stability. Furthermore, effectively managed risk assets have a favorable impact on a bank's financial performance, underscoring the significance of strategic risk management. The recommendations emphasize the necessity of enhancing credit risk management techniques, optimizing liquidity management, and implementing strategic actions to minimize Non- Performing Loans keywords

Energy consumption facilitates economic growth but it is a major source of carbon emission, leading to the dilemma in policy priority between economic growth and pollution reduction. Therefore, this study empirically examined the relationship between energy consumption, carbon emissions and economic growth in Nigeria using cointegration and dynamic causality analysis, with annual time series data for the period 1981 to 2021. A good number of econometric techniques were conducted, which include; descriptive statistics, correlation coefficient, unit root test, granger causality test, optimal lag selection criteria test and co-integration test using Autoregressive Distribution Lag (ARDL) Bound Test and ARDL model Approach. Granger longrun dynamic analysis were conducted using error correction model (ECM) framework to explore the causal relationships between the variables. The study revealed evidence of relationship between energy use, electricity consumption, CO2 emission and economic growth in Nigeria. A positive but insignificant relationship exist between energy use and economic growth, electricity consumption and economic growth, while a negative and insignificant relationship between CO2 emission and economic growth in the long-run during the study period. During the lagged period, CO2 emission and economic growth showed positive and significant relationship in the long-run. The study also revealed that a unidirectional causality exists from economic growth to energy use, electricity consumption to economic growth in the long run, while a bidirectional long-run causality exists between CO2 emission and economic growth. An important policy implication is that energy consumption has positive influence on economic growth in Nigeria, thus as higher energy consumption also means higher pollution in the long-run, policymakers should diversify and explore alternative energy sources for meeting up the increasing energy demand and reducing the effect of carbon on her citizens.

The study examines the effect of Government Capital Budgetary Expenditure on Stock Market Performance. The ordinary least squares econometric tool was employed to empirically examine the relationship within 1984-2021. The study found out that Government expenditure on health has a negative significant influence on stock market performance in Nigeria; Government expenditure on education has a positive significant influence on stock market performance in Nigeria; Government
expenditure on agriculture has a positive insignificant effect on stock market performance in Nigeria; Government expenditure on defense has a negative insignificant impact on stock market performance in Nigeria.

The study examined the joint impact of foreign capital flow and stock market performance on economic growth in sub Sahara Africa. Three (3) economies (Nigeria, Kenya and South Africa) were selected from among the 51 economies in the region, and
data spanning 22 years (1995-2017) were obtained and subjected to econometric analysis. The pooled mean group estimator (panel ARDL) was employed for data analysis, after preliminary diagnostics has been carried out to check for the time properties of the data set. Pooled results revealed that all foreign capital flow and stock market indicators were positive and significant drivers of growth in the long run, on the contrary short run result revealed that the stock market inhibited growth in the region. Country specific estimates produced mixed findings as some variant of capital flow was found to be positive while the other negative for the same country, for example FDI was found to enhance growth in Nigeria but hampers growth in Kenya and South Africa. On the other hand, while a significant positive short run relationship was found between FPI and growth in Nigeria
and South Africa, an inverse relationship between this variable was recorded in Kenya. Country specific result also revealed significant positive relationship between stock market and economic growth in Kenya, Nigeria and South Africa, although the
magnitude was found to be lesser in South Africa.

In this study, the impact of dividend policy on share price of firms Listed on oil and gas sector of Nigerian Exchange Limited (NGX) was examined. In order to determine the relationship between dividend policy and share price of firms, dividend policy key proxy variables were used in the study, namely; dividend yield (DIY), dividend per share (DPS) and dividend payout (DPR) while share price (SP) on the other hand was measured using market price of shares (SP). The study also control for size of firm (FZ) in the model specification. Three hypotheses were formulated to guide the investigation and the statistical test of parameter estimates was conducted using OLS panel least model operated with Eviews 9.0. Longitudinal research design was adopted and data for the study were obtained from the Nigerian Annual Reports and Accounts of listed oil and gas firms in Nigeria spanning from 2010 - 2021. The findings generally indicate that dividend yield, dividend per share and firm size have exerted significant impact on share price of the selected oil and gas firms. Based on this, the study concludes that dividend policy is capable of influencing oil and gas firms’ share prices in Nigeria. By this implication, the study supports the relevant theories of dividend policy reviewed in this study as irrelevant theories of dividends do not hold in the case of Nigeria. The study recommends among others that firms’ willing to maximize share price should consistently increase their dividend per share and reduce their dividend yield as this sends signal to the investors about the firm’s market performance and financial health