FACULTY OF MANAGEMENT SCIENCE

This study examines the relationship between auditor independence and corporate fraud across 8 Publicly listed companies spanning multiple sectors in Nigeria. The research investigates five key determinants of auditor independence; audit tenure, non-audit services, audit firm rotation, audit firm size, and audit fee dependence, and their impact on fraud detection. A quantitative research design was employed, utilizing secondary data from financial statements, audit reports, and corporate filings from 2018 to 2023. Descriptive and inferential statistical analyses were conducted to assess how each factor influences corporate fraud risk. The findings indicate that prolonged audit tenure can either enhance fraud detection by improving auditors’ understanding of clients or impair independence due to familiarity threats. The provision of non-audit services was found to significantly increase fraud risk, as financial dependence on additional consulting engagements compromises auditors' objectivity. Mandatory audit firm rotation was associated with reduced fraud risks by introducing fresh perspectives and minimizing complacency, although frequent rotations posed transitional challenges. The study also found that audit firm size had an inconclusive effect on fraud detection, with Big Four firms benefiting from greater regulatory scrutiny but still susceptible to financial incentives. Furthermore, audit fee dependence was strongly linked to increased fraud risks, as auditors reliant on a single client’s fees were less likely to issue adverse opinions. The study concludes that strengthening auditor independence through stricter regulatory enforcement, mandatory firm rotation, and limitations on non-audit services is essential for mitigating corporate fraud. The findings provide practical insights for policymakers, auditors, and corporate governance bodies to enhance financial reporting integrity and fraud prevention mechanisms in Nigeria

This study examined the impact of venture capital financing on the performance of Small and Medium Scale Enterprises (SMEs) in Benin City, with emphasis on growth, profitability, and innovation capacity. The study adopted a survey research design and primary data were collected through the administration of structured questionnaires to 205 SME owners and managers who have received or sought venture capital support. A total of 198 valid responses were retrieved and analyzed using descriptive statistics and multiple linear regression. The descriptive results revealed that respondents generally perceive venture capital financing as
a catalyst for business expansion, increased revenue, operational efficiency, and enhanced innovative capability. The inferential analysis further confirmed these perceptions. The regression results showed that venture capital financing has a significant positive effect on SME growth ,profitability, and innovation indicating that venture capital financing explains 67.9% of the variation in SME performance. The findings reveal that venture capital financing significantly contributes to the growth and competitiveness of SMEs by providing not only financial support but also managerial expertise, mentorship, and access to networks. However,
challenges such as limited awareness, inadequate regulatory frameworks, and high investment risks hinder the full realization of venture capital’s potential. In Benin, however, the venture capital market remains underdeveloped due to regulatory bottlenecks, low investor confidence, and limited awareness among entrepreneurs. The study concludes that venture capital financing plays a strategic role in improving SME performance in Benin City by fostering growth, increasing financial outcomes, and encouraging
innovation. It recommends that government and private sector stakeholders enhance access to venture capital through policy support, investment incentives, and awareness programmers, in order to strengthen SME development and economic sustainability and also strengthening Nigeria’s venture capital framework is essential for unlocking the full potential of SMEs in driving sustainable economic growth and competitiveness.

The study examined the effect of financial system development and gross capital formation in Nigeria, over a 15-year period, from 2009 to 2023. The specific objectives of the study were to examine the effect of financial openness on gross capital formation in Nigeria, the impact of financial deepening on gross capital formation in Nigeria., determine the influence of market capitalization on gross capital formation in Nigeria, assess the effect of value of stock traded on gross capital formation in Nigeria., and to evaluate the impact of insurance penetration on gross capital formation in Nigeria. To this end, the longitudinal research design was utilized in this study. The findings revealed that financial openness (FINOPEN) has a weak negative relationship with gross fixed capital formation (GFCF) in Nigeria both in the short run and in the long run, that
financial deepening (FNDEEP) is a significant determinant of gross fixed capital formation(GFCF)in Nigeria in the short run; but in the long run, it does not have any significant impact, that market capitalization (MACAP) has a weak positive ef ect on gross fixed capital formation (GFCF) intheshort run; but in the long run, it is a potent factor, that value of stock traded (VASTOC) does not have significant impact on gross fixed capital formation (GFCF) in Nigeria both in the short term
run and in the long run, that insurance penetration (INSPEN) has a significant negative relationship with gross fixed capital formation (GFCF) in the short run; but in the long run, it does not significantly affect gross fixed capital formation., and that in the short run, total insurance premium (TOPREM) is a significant factor in the determination of gross fixed capital formation(GFCF), but not in the long run. The study concludes that that, market capitalization (MACAP) is a
very potent financial system development variable for enhancing GFCF in Nigeria in the long run; while in the short run, deepening (FNDEEP), insurance penetration (INSPEN) and total insurance premium (TOPREM) are relevant factors to be considered in terms of improving the level of gross fixed capital formation (GFCF) in Nigeria.

This study examines the impact of capital structure on firm performance among oil and gas firms listed on the Nigerian Exchange Group (NGX) from 2014 to 2023. Given the capital-intensive nature of the industry, understanding the relationship between debt and equity financing is crucial for optimizing financial performance. The study employ sanex-post facto research design, relying on secondary data sourced from annual financial
reports, the NGX database, the Central Bank of Nigeria (CBN), and the National Bureau of Statistics (NBS).
A panel data regression model is used to assess the effect of key capital structure variables—debt-to-equity ratio, debt ratio, equity ratio, and long-term debt to assets ratio—on firm performance, measured through Return on Assets (ROA) and market
value. The study applies descriptive statistics, correlation analysis, and panel regression techniques, using the Hausman test to determine the appropriate model (Fixed Effects or Random Effects). Diagnostic tests are also conducted to ensure the validity and reliability of the regression results.
Findings from the study are expected to provide empirical evidence on how leverage influences financial performance, offering insights for corporate managers, investors, and policymakers in optimizing capital structure decisions. The study contributes to existing literature by incorporating Environmental, Social, and Governance (ESG) considerations, which have gained prominence in corporate financing decisions.

This study reviewed CEO characteristics and firm value in Nigeria Over the period of 2018 - 2023. The study’s objective is to examine the to examine the impact of CEO education and firm value in Nigeria, to analyze the impact of CEO religion on firm value in Nigeria, to examine the influence of CEO age on firm value in Nigeria and to investigate the effect of CEO political affiliation nd firm value in Nigeria. The Research design used in this study is the quantitative method, secondary data was collected from 50 rms sourced from the Nigerian stock exchange, the study utilised the panel data regression approach, given the nature of the ataset, the data was analysed using correlation coefficient and regression analysis. The analysis revealed several key findings regarding the factors influencing return on investment (ROI), a positive impact of education on return on investment (ROI), a positive impact of religion on return on equity (ROE), a positive impact of age on return on equity, implying that older age groups may tend to achieve higher returns, while firm size was found to have a statistically significant negative impact on return on investment. This implies that larger firms tend to experience lower returns on investment. In conclusion, the analysis provides valuable insights into the factors influencing return on investment (ROI) and return on assets (ROA), the study recommended that investors should diversify decision-making beyond education, considering factors like financial performance and market conditions. Encouraging continuous financial education can empower investors for effective market navigation. Additionally, holistic approaches integrating religion, age, and firm size with risk assessment optimize investment outcomes.

This study examined the association between organisational silence and job stress among lecturers at the University of Benin. It aimed to assess the level of organisational silence, identify its dominant dimensions, and evaluate the extent to which different forms of silence affect lecturers’ job-related stress. Using a descriptive and correlational research design, data were obtained from ninety-two (92) lecturers through a structured questionnaire. Organisational silence was assessed across four dimensions—acquiescent, defensive, prosocial, and supervisor silence climate—while job stress was measured in terms of workload-related stress, role conflict and ambiguity, job pressure and anxiety, and inadequate supervisor and peer support.
Descriptive results showed that organisational silence was generally low, with a grand mean of 2.67, whereas job stress was moderate, with an overall mean of 3.08. Prosocial silence (M = 4.09, SD = 0.64) emerged as the most prominent dimension, indicating that lecturers often withheld opinions for constructive reasons such as preserving collegial relationships or promoting workplace harmony. Although acquiescent and defensive silence were less common, they demonstrated stronger links with job stress. Regression analysis (R = 0.643, R² = 0.414, F = 15.343, p < 0.05) revealed that the combined dimensions of organisational silence significantly predicted job stress, with acquiescent silence (p = 0.001) and defensive silence (p = 0.005) identified as significant contributors.

The main purpose of this study was to examine the impact of artificial intelligence on the accounting profession. It examines the usefulness of artificial intelligence to the accounting profession. The findings indicate that artificial intelligence and the accounting profession are positively correlated, and that AI will have an impact on the accounting profession in the future.The accounting profession's adoption of artificial intelligence has improved the quality of financial information, relevance, faithful representation, efficiency, and corporate governance information. However, it is advised that a comparison of the use of the accounting profession in other fields and in other accounting professions could offer some insights into institutional and cultural factors that influence the decision to use artificial intelligence. Additionally, the use of AI technology can help improve the quality of their asset base and lower leverage ratios by reducing debt. A survey research design was used in the study. A total of 50 questionnaires were distributed equally among penultimate, final-year students and faculty members working in the accounting department of the University of Benin in Benin City, Edo State, as the primary method of data collection. Regression analysis was used to formulate and test five hypotheses.The analysis's findings led to the acceptance ofthe alternative hypotheses and the rejection ofthe five null hypotheses. Thus, it was determined that artificial intelligence significantly affects how the accounting profession is perceived. According to the study, the accounting profession should implement stronger artificial intelligence procedures in order to enhance the caliber of their financial reporting and, consequently, their overall worth.

This study was concerned with the adoption of International Financial Reporting Standards (IFRSs) in Nigeria and specific stakeholders in the Nigerian financial landscape. This study adopted a cross-sectional survey design. The population consisted of 500 investors and accountants in Benin City and a sample size of 225 investors in publicly listed companies and accountants which was selected using convenience sampling techniques enabling easy gathering of primary data with minimal resources. The hypotheses were tested using analysis of variance (ANOVA). The findings from the study shows that the adoption of International Financial Reporting Standards (IFRSs) has a significant impact on the quality of investment decision-making in the Nigerian financial landscape, that there is need for improvement in the roles played by regulatory bodies in the implementation of IFRSs in Nigerian financial landscape, and that the accounting profession and academia play a crucial role in developing competent accountants for the proper implementation of IFRSs in Nigerian financial landscape. Based on the findings, recommendations were made, such as formulation and enforcement of comprehensive regulations for IFRSs implementation by government regulatory agencies, the accounting profession should be primarily involved in development of accountants knowledgeable in IFRSs, and ensuring compliance with the IFRSs by the preparers of financial statements. This can enable Nigeria to leverage the full benefits of adopting and implementing international Financial Reporting Standards in Nigeria. The findings of this study also confirmed some previous studies.

The purpose of this study was to ascertain the effect of bank profitability on economic growth in Nigeria. However, in order to achieve the objectives of this study, we utilised four explanatory variables as proxies for bank profitability (credit to private sector, bank loans, bank return on assets and total assets to GDP) while real gross domestic product was used as a proxy for economic growth in Nigeria. The study covered a time period of 1995-2020 (26years). The descriptive statistics and regression analysis technique were adopted in carrying
out the study’s empirical analysis Based on the empirical analysis, the following findings were arrived at: firstly, the study ound that there is a positive and insignificant relationship credit to private sector and economic growth in Nigeria; second, the study found that bank loans have a significant effect on economic growth in Nigeria; third, bank return on assets have an insignificant effect on economic growth in Nigeria; and finally, total assets to GDP was found to have a positive and significant effect on economic growth in Nigeria. In view of the salient findings from this study, the following specific policy recommendations were put forth: banks in Nigeria should lend more to the private sector as doing so ensures they are lending to sectors that are likely to generate more income the loans granted which will culminate into a multiplier
effect of enhanced economic growth performance in the long run; the apex monetary authority in Nigeria (CBN) should ensure that banks are regulated to give out more proportion of their income as loans to individuals, private sector and public sector; banks should not leave customers’ deposits idle but should invest a large chunk of it on risk-free securities such as government bonds as well other risky securities with the adoption of effect risk management mechanism; and efforts should be made by banks to maintain continuous increase in their
assets which could be by diversifying, opening more branches, among others.

he research looks at how Nigerian life insurance policies are affected by the credit risk modeling approach. From 1995 to 2023, time series quarterly data were obtained from the World Bank Financial Development Database and the CBN statistics bulletin. The multiple regression methods known as Ordinary Least Square (OLS) and General Least Square (GLS) were used. Among other things, the results show that Nigeria's renew life policy is significantly impacted by the human development index. In Nigeria, government spending on health has a big impact on the renew life policy. Nigeria's renew life policy is significantly impacted by life expectancy. Nigeria's renew life policy is not significantly impacted by the rate of inflation. Nigeria's renew life policy is not significantly impacted by the exchange rate. The research comes to the conclusion that life expectancy, government health spending, and the human development index are important factors that influence Nigeria's renew life strategy