Thesis & Dissertation

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A COMPARATIVE STUDY OF LOCAL GOVERNMENT AND COMMUNITY-BASED ORGANISATIONS IN THE DELIVERY OF SOCIAL SERVICES IN SELECTED STATES OF SOUTHWESTERN NIGERIA (1997-2005)
(2007) POPOOLA, OLADEPO OLUFEMI
This study examined and compared the delivery of social services by Local Government and Community-based Organizations (CBOs) in selected states of Ekiti, Ogun and Osun of Southwestern Nigeria between 1997 and 2005. The social services which the study focused on were: road, water, electricity, health care and education. This was with a view to ascertaining the usefulness of co-production strategy to the delivery of social services. Both primary and secondary data were used for the study. Primary data were obtained through the use of structured questionnaires, oral interviews and observation techniques. Four hundred and forty questionnaires were administered on the leaders (Chairmen, Secretaries and Treasurers) of Community Development Councils (CDCs) using stratified sampling technique. Also, five hundred and eighty two questionnaires were administered on the senior staffs of local government that were directly involved in the delivery of social services using stratified sampling technique. The questionnaires assessed respondents' opinions not only on the performance of local government and CBOs in the delivery of social services, but also on local government delivery vis-a-vis community delivery. The questionnaires also assessed respondents' views on the relevance and usefulness of co-production strategy in social service delivery. Out of a total of one thousand and twenty two questionnaires administered to the two categories of respondents, nine hundred and twenty (90 percent) were retrieved. To complement the data extracted from questionnaires, interviews were also conducted with eighteen CDC leaders and nine local government senior staff. The interviews focused, not only on how local government and CBOs delivered social services, but also on the need for collaboration between local government and CBOs in the delivery of social services. With the use of observation techniques, some projects on road, water, electricity, health care and education were surveyed and photographs of some of them were taken. Secondary data were collected from relevant textbooks, government documents and records of social services delivered. The data were analyzed using both descriptive and inferential statistics.
A STUDY OF INTER-GOVERNMENTAL FISCAL RELATIONS IN NIGERIA, 1999-2007
(2008) ADESOPO, AYO ARIYO
This study examined the origin and development of inter-governmental fiscal relations (IGFR) in Nigeria as well as their linkages with the political arrangement. It also identified and analysed the effects of these linkages on the states and local governments and synthesized the perception of IGFR by selected states. This was with a view to providing insights into the dynamics, management and problems of IGFR in Nigeria. Primary and secondary data were used for the study. A questionnaire was administered on top career officers of the relevant government departments/parastatals at both the state and local government levels in 6 purposively selected states (Benue, Bauchi, Kaduna, Enugu, Delta and Ondo) representing each of the geo-political zones in Nigeria. Of the 312 copies of questionnaire administered, 251 (79.8 per cent) were retrieved. To complement the data collected from questionnaire, interviews were also conducted with 18 top political functionaries at the local government level, 3 of the commissioners representing the selected states on the National Revenue Mobilization, Allocation and Fiscal Commission (NRMAFC) and 19 opinion leaders comprising political elites knowledgeable about political and economic issues in the zones. The interviews focused on the sharing of the Federation Account among the vertical organs, the appropriateness of the revenue sharing principles in use for horizontal sharing and the distribution of tax jurisdiction. Secondary data were obtained from relevant textbooks, journals, newspapers, and official publications of the Central Bank of Nigeria (CBN), Federal Ministry of Finance, NRMAFC and other relevant publications. Data were analysed by means of descriptive and inferential statistics.
COMPLAINT MANAGEMENT, PERCEIVED JUSTICE AND PATIENTS’ BEHAVIOURAL INTENTIONS IN TERTIARY HEALTHCARE INSTITUTIONS IN SOUTHWESTERN NIGERIA
(2019) UMA UKWU UDUMA
The study assessed the complaint management process adopted by Tertiary Healthcare Institutions; examined the influence of complaint management on patients’ behavioural intentions and evaluated the effects of perceived justice on patients’ behavioural intentions. Lastly, it determined the effect of satisfaction with the recovery efforts on patients’ behavioural intentions. These were with a view to providing information on patients’ perceived justice from complaint management and the possible effects on patients’ behavioural intentions in Tertiary Healthcare Institutions in Southwestern Nigeria. The research design adopted was descriptive and cross-sectional in nature. The study used both primary and secondary data. The population of the study comprised 10000 registered patients in selected Tertiary Healthcare Institutions in Southwestern Nigeria. A sample of 400 patients were purposively selected from five Tertiary Healthcare Institutions in Southwestern Nigeria. Sample selection was based on patients with medical history of regular visit for a period of not less than one year. Data on complaint management system, perceived justice, patients’ satisfaction, and patients’ behavioural intentions, were obtained through the administration of questionnaire and interview. Information on complaint management procedure and policies were sourced from the annual report and publications of Healthcare Institutions. The data were analyzed through the use of percentages, mean, ordinary test square regression analysis, and Pearson correlation coefficient technique.
DIVIDEND PAYOUT POLICY, FIRMS’ INVESTMENT BEHAVIOUR AND VALUE OF SELECTED QUOTED COMPANIES IN NIGERIA (2001-2016)
(2019) JOHN AYOBAMIBO OLAYIWOLA
The study examined the trend and pattern of corporate dividend from 2001 to 2016, assessed the factors influencing corporate dividend pay-out policy of quoted Nigerian companies and investigated the long run and short run effects of corporate dividend policy on corporate performance of quoted companies in Nigeria over the study period. It also analysed the dynamic relationships among dividend payout policy, investment behaviour and corporate value of quoted companies and examined the interactive effects of dividend pay-out policy and firms’ investments on corporate value of listed companies in Nigeria. These were with the view to providing information on the relevance of dividend pay-out for policy formulation and implementation in enhancing investment decisions and performance of quoted companies in Nigeria. The study employed secondary source of data collection. A sample of 80 quoted companies out of 227 listed companies in Nigeria were purposively selected based on availability of required information in their annual reports and the existence of the companies over a period of 2001-2016. Year 2001 was chosen as base year because that was the third year in which democracy was restored in Nigeria and during this period, various economic policies and reforms were made by the government that affected the activities and operations of quoted companies in Nigeria. Secondary data on firms’ age, property, plant and equipment, dividend per share, dividend pay-out, agency cost, return on equity, return on total assets, leverage, price-earnings ratio and share price were all obtained from the audited Annual Reports of the selected companies and the fact book published by Nigeria Stock Exchange. Data on gross domestic products, inflation, exchange rate and capital were obtained from the World Bank. Indicator and statistical bulletin published by Central Bank of Nigeria, while oil price was sourced from Organisation for Petroleum and Exporting Countries’ annual oil price statistics. Corruption index and legal system index were also obtained from International Country Risk Guide published by World Bank. Data collected were analyzed using percentages, generalized method of moments, autoregressive distributed lag and structural vector autoregression (SVAR). The results showed that the trend of dividend pay-out of quoted companies in Nigeria was increasing at a diminishing rate as the pattern of dividend payout showed 7.9% increase in year 2001 and finally stood at (-5%) in year 2016, that is, increasing by 10% when compared to year 2010. Results further revealed that GDP (t = 58.56; p < 0.05), GFCF (t = 35.768; p < 0.01), Inflation (t = 72.67; p < 0.05), Oil (t = 12.218; p < 0.05), Legal (t = 48.94; p < 0.05) and lag of DPS (t = 48.94; p < 0.05) all wielded positive and significant impact on dividend policy, while other variables exercise a negative but significant influence on corporate dividend policy of Nigerian companies. In addition, results also revealed that dividend policy negatively and significantly influences performance of companies in the short run (t = 10.76547; p < 0.05), while in the long run, the impact of dividend policy was positive and also significant (t = 2.94924; p < 0.05). Results of the SVAR estimates showed that the response of firms’ investment to shocks in the market value was 1.98% in the 10th period of the forecast horizon while that of dividend was 7.04%. Finally, the estimation results revealed that the interactive effect of dividend policy and investment was negative and significant (t = 84.38; p < 0.05) on the measures of corporate performance of quoted Nigerian companies. This study concluded that the responses of investment policy and market value to shocks in dividend policy had contractionary effects and as such could lead to an enhanced investment decision and market values of quoted Nigerian companies.
FINANCIAL REFORMS, SUSTAINABILITY AND PERFORMANCE OF PUBLIC SECTOR ENTITIES IN NIGERIA (2009 – 2016)
(2019) PHILIP OLAWALE ODEWOLE
The study appraised the contents of financial reforms in public sector entities and investigated the level of compliance with the financial reforms in public sector entities. It also analysed the trend of the internally generated revenue and assessed the efficiency of public sector entities in the utilisation of financial releases. Finally, the study evaluated the financial sustainability of the public sector entities in Nigeria. These were with a view to providing information on the level of compliance and the efficiency of financial reforms of public sector entities in Nigeria between 2009 and 2016. The study employed both primary and secondary data. The population of the study for both primary and secondary analysis consists of 98 Federal Ministries, Departments and Agencies (MDAs). Two Ministries were selected for the study using purposive sampling technique; namely Ministries of Health and Education. Purposive sampling technique was used to select 50 MDAs whose data on relevant information are readily available and accessible. Primary data were sourced with the aid of structured questionnaire administered to 500 accountants and auditors in the selected MDAs. Secondary data on variables such as capital releases, overhead releases, personnel cost releases and the internally generated revenue were sourced from the Annual Warrants to the MDAs by the Federal Ministry of Finance and the Annual Reports of the Office of the Accountant General of the Federation together with the Audited Financial Statements. Data were analysed using content analysis, percentage, efficiency score, factor analysis technique, Data Envelopment Analysis (DEA) technique and Balance Score Card (BSC) method. The results showed that the contents of the financial reforms were not home-grown and therefore did not reflect the peculiarities of Nigerian Public Sector entities’ domestic operations. The results revealed 55% compliance with the budget reform, 22% compliance level with the adoption and implementation of the International Public Sector Accounting Standards (IPSAS), 44.3% compliance with the implementation of Integrated Personnel Payroll and Information System (IPPIS) among the MDAs while the results of compliance with the Treasury Single Account recorded 60.6% and 55.5% with GIFMIS. Also, the results of the trend analysis of internally generated revenues showed that there was a spike of IGR among the MDAs in year 2016 as a result of the cash management reform. Furthermore, results showed that Decision Making Units (DMUs) under both Health and Education sectors were marginally inefficient in the utilisation of personnel cost releases with the overall average efficiency scores of 82.3% and 82.7% respectively. Also, the results also showed that the DMUs under the two sectors were distinctively inefficient in capital grants allocation with overall average efficiency scores of 53.3% and 54.5% for education and health sector respectively while the overall average efficiency scores in the utilisation of overhead cost releases showed that DMUs under health sector are more efficient than their counterparts under education with the efficiency scores 97.9% and 89.0% respectively. In summary, none of the DMUs attained a full efficiency of 100% during the research period. Lastly, the results of the findings on financial sustainability of the public sector entities revealed that MDAs under the education sector were more financially sustainable than their counterpart under health sector. The study concluded that none of the public sector entities in Nigeria fully complied with the financial reforms and did not attain full efficiency between 2009 and 2016
FINANCIAL REPORTING QUALITY AND SHARE VALUES OF QUOTED NON- FINANCIAL FIRMS IN NIGERIA
(2019) QUADRI ADEBAYO LAWAL
The study examined the level of compliance with financial reporting standards of quoted non- financial firms in Nigeria and examined the extent of financial reporting quality among the firms. It also determined the factors influencing financial reporting quality of quoted non-financial firms and investigated the impact of financial reporting quality on share values of the quoted non-financial firms in Nigeria. These were with a view to determining the effect of financial reporting quality on the firms’ value of quoted non-financial firms between 2002 and 2017. The study employed secondary data. The population of this study was 176 quoted non-financial firms listed on the Nigeria Stock Exchange. Fifty firms were purposively selected based on the availability of complete financial information for the sampled period. Data on cashflow accrual ratio, statements of financial position accrual ratio as proxies of financial reporting quality, firms’ size, auditors’ type, share values, board size, leverage, audit committee size, age and firms’ liquidity were sourced from the audited annual financial report of the firms and factbook of Nigeria Stock Exchange. Data collected were analysed using percentages fixed effect model, random effect model and pooled OLS method. The results showed that the compliance of firms had been increasing over the years with Income Tax (IAS 12) having the highest level of compliance of 100% among the six sampled standards. Also, results on the extent of financial reporting quality established that the level of manipulation of financial statement had been reducing every year and it had been reduced to 0% in both years 2016 and 2017 respectively. Furthermore, results revealed that both leverage and size of the firm (t = -0.3412, p > 0.05; t = 0.1325, p > 0.05) respectively, had no significant impact on the financial reporting quality of quoted non-financial firms in Nigeria. Finally, result showed that the financial reporting quality had significant positive effect on the share value of firms (t = 2.1385, p < 0.05). The study concluded that financial reporting quality has a positive impact on the market value of quoted non-financial firms in Nigeria.
FORENSIC ACCOUNTING AND TAX EVASION DETECTION IN LAGOS STATE
(2021) ISRAEL SERIKI AKINADEWO
The study analysed the extent of tax evasion in Lagos State; examined the determinants of tax evasion; and investigated the specific forensic accounting techniques used for tax evasion detection. It also assessed the effect of forensic accounting on tax evasion detection in the State. These were with the view of generating information on the extent of tax evasion and the effect of forensic accounting on tax evasion detection in Lagos State. The study adopted descriptive survey design and employed both primary and secondary data. The population of the study was 1,387 forensic accountants licensed by the Lagos State Internal Revenue for tax assignment and senior tax officials. A sample size of 301 was selected using Krejcie & Morgan (1970) formula with the respondents chosen through purposive sampling technique. Data were analysis involved tables, percentages, and logit regression. The results showed that the rate of tax evasion in the earlier years, from the Lagos Internal Revenue Service records in comparison to the total revenue generated was between 11% and 40%, which agreed to the analysis of the perception of the experts. The rates were further reduced to 11.27% in 2018. The failure of government in the performance of civic responsibilities (74.1%), the inability of government to provide the enabling environment for businesses to grow (67.2%), and the evasion of tax by the affluent of the society without adequately prosecuting them (67.1%) determined tax evasion in Lagos State. Also, inconsistencies in government policies (66.4%), multiple taxation (63.8%), and ineffective prosecution of tax evasion cases (56.5%), were among the determinants of tax evasion in the state. Benford’s Law (55.1%), Computer Assisted Review and Document Review (50.2%), and Identifying Anomalies’ Techniques (59.2%) were the specific forensic accounting techniques adopted for tax evasion detection. Trend Analysis (45.8%), Business Intelligence (43.9%), Relative Size Factor (43.9%), Ratio analysis and Data Matching (40.2%), Data Mining Tools (38.9%), Revenue Approaches (38.9%), Variance Analysis (37.2%), Expenditure Approach (35.5%), and New Worth Comparative Method (31.6%) were among the forensic accounting tools employed for tax evasion detection. In addition, detection, prevention and deterrence skills (t = 5.268, p < 0.05); forensic audit, investigation and interviewing skills (t = 1.936, p < 0.05); arbitration, mediation and litigation skills (t = 2.618, p < 0.05) and honesty, high integrity and communication skills (t = 1.552, p < 0.05) had positive and significant effect on tax evasion detection. Ratio analysis and data matching techniques (t = .234, p < 0.05); data matching techniques (t = 2.196, p < 0.05); computer assisted review and document review techniques (t = 3.543, p < 0.05); net worth analysis (t = 1.844, p < 0.05) and expenditure technique (t = 1.829, p < 0.05) positively influenced tax evasion detection. Thus, increase in the application of forensic accounting skills and techniques would result into reduction in tax evasion. The study concluded that application of forensic accounting notably enhanced efficient tax administration and minimised tax evasion in Lagos State.
HUMAN CAPITAL DEVELOPMENT AND CORPORATE PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA
(2021) OLUWATOYIN AFOLAKE AKEREMALE
The study examined the Human Capital Development (HCD) strategies put in place by the Nigerian deposit money banks and assessed the factors that influenced the development of human capital in the Nigerian banking sector. It also determined the effect of HCD strategies on financial performance of the banking sector and investigated the influence of HCD strategies on non-financial performance of the banking sector. These were with a view to providing information on the influence of human capital development strategies on corporate performance of deposit money banks in Nigeria. The study adopted a descriptive survey research design. It used primary and secondary data. The population of the study was 17 listed deposit money banks on the Nigerian Stock Exchange. A sample size of 8 was selected using simple random sampling technique. Primary data were sourced through the administration of two sets of structured questionnaires. The first questionnaire targeted 320 respondents (40 from each bank) from Accounting/Finance, Human Resources/Administration, Operations and Marketing Departments. The second questionnaire were administered to 80 customers (10 from each bank). Data were sourced on variables such as return on assets and profit from the audited financial statement of the banks from 2011 - 2018. The study chose 2011 as the base year because it marked the period of introduction of International Financial Reporting Standard. Data collected were analysed using percentages and multivariate regression model. The result showed that provision of formal education (80%), participation in seminars, conferences and workshops (76%) and participation in trade fairs and exhibitions (72%) were human capital development strategies put in place by the Nigerian banking sector. It also showed that managers’ active participation (84%), training needs of employee (84%), sufficient budget allocation (83%), general and specific goals of employees’ development (80%), job development plan with comprehensive training programme (77%), and work experience of staff (76%) were the major factors influencing effective development of human capital in the Deposit Money Banks (DMBs). Furthermore, provision of conducive working environment (t = 4.499, p < 0.05) and participation in seminars, conferences, workshops (t = 6.946, p < 0.05) had significant effect on financial performance of the banks. In addition, formal education (t = 3.717, p < 0.05) and participation in trade fairs and exhibitions (t = 2.194, p < 0.05) had significant effect on the non-financial performance of the banks. The study concluded that human capital development strategies greatly influenced corporate performance of deposit money banks in Nigeria.
HUMAN RESOURCE MANAGEMENT PRACTICES AND ORGANIZATIONAL PERFORMANCE IN THE AGRO- ALLIED INDUSTRY IN NIGERIA
(2016) AJAO MAYOWA GABRIEL
The study identified human resource management practices in use in the agro-allied sector in Nigeria, and determined the extent to which different human resource management practices influence different measures of organizational performance in the agro-allied sector of the country. It also examined the problems encountered in the application of different human resource management practices by firms in the agro-allied sector of the economy. These were with a view to providing information on human resource management practices that enhance organizational performance. The study made use of primary data through the administration of questionnaire. The population for the study consisted of 1,406 permanent staff of the five agro-allied companies (Livestock Plc; Okomu oil palm Plc; Presco Plc; FTN Cocoa Plc and Ellah Lakes Plc) quoted on the Nigerian Stock Exchange. A sample size of 311 staff was selected using the Serakan (1992) formula for sample size determination. Based on proportional representation of number of staff in each company, the sample size was allocated to the five companies. Data collected were analyzed using mean, z-test and t-test. The study results showed that training and development (̅X = 4.61, Z=33.49); performance appraisal ( X̅ = 4.56, Z = 31.29); recruitment and selection ( X̅ = 2.85, Z = -1.74); and compensation and reward management (̅X = 2.43, Z = -9.42) were the human resource management practices in use by firms in the agro-allied sector. The results further showed that there is statistically significant positive relationship between human resource management practices and different measures of organizational performance such as: effectiveness (t = 7.99, p < 0.05); efficiency (t = 13.34, p < 0.05); development (t = 2.89, p < 0.05); and quality (t = 1.53, p < 0.05). Furthermore, the results revealed that lack of competitive and performance based compensation packages by management ( X̅ = 4.23) and low level of organizational commitment by employees ( X̅ = 4.14) were the prominent problems encountered in the application of human resource management practices by firms in the agro-allied sector. The study concluded that human resource management practices directly and significantly influenced organizational performance in the agro-allied industry in Nigeria
IMPLEMENTATION OF MONETISATION POLICY IN SELECTED FEDERAL MINISTRIES AND PARASTATALS IN NIGERIA
(2021) OLUWAFISAYO OLAMIPOSI FALOWO
The study investigated the strategies put in place for the implementation of monetisation policy in selected Federal Ministries and Parastatals in Nigeria. It examined the extent of implementation of monetisation policy and the effect of the implementation of the monetisation policy on staff productivity in the selected Federal Ministries and Parastatals. Lastly, it analysed the challenges confronting the implementation of monetisation policy in the study area. These were with a view to providing information on the implementation of monetisation policy in selected Federal Ministries and Parastatals in Nigeria. The study adopted a descriptive survey research design. Primary and secondary data were used for the study. Primary data were collected through the administration of questionnaire and conduct of interviews. The study population comprised 2,286 staffsfrom Ministries of Finance, Communications, and Science and Technology; and their affiliated Parastatals, such as the Central Bank of Nigeria, Nigerian Communications Commission and National Centre for Technology Management. Simple random sampling technique was used to select a sample size of 458 respondents, representing 20% of the study population. Interview was conducted with 12 Directors, two from each Ministry and Parastatal. The data collected were analysed using percentages, mean and content analysis. The results showed that strategies put in place for the implementation of monetisation policy included setting up committees on the implementation of monetisation policy (78%), substitutition of fringe benefits with financial benefits (80%) and offsetting financial requirements through instalmental payments (75%). The monetisation policy has been implemented in the Federal Ministries and Parastatals which was evident in the consolidated salary structure (80%). The implementation of monetisation policy has not positively affected staff productivity in the Federal Ministries. The influence of monetisation policy on the following included: high quality work outcome (3.95), large amount of work (4.0) and timely submission of reports (3.96). The findings further showed that monetisation policy has positively affected staff productivity in the Federal Parastatals. The respondents agreed with the influence of monetisation policy on the following indicators: high quality work outcome (2.0%), large amount of work done (2.4) and timely submission of reports (2.0). The findings showed that the challenges confronting the implementation of monetisation policy in the Federal Ministries and Parastatals included insincerity on the part of government (70%), inadequate funding (75%), lack of proper consultation in the formulation of the policy (78%), management of the policy within the tax structure (68%) and inadequate funding (73%). The study concluded that the implementation of monetisation policy was partially successful in the Federal Ministries, while it was more successful in Federal Parastatals in Nigeria.
IMPLEMENTATION OF PENSION REFORM ACT OF 2004 IN SELECTED FEDERAL UNIVERSITIES IN SOUTHWESTERN NIGERIA
(2017) Adesoji Emmanuel ADERET
The study analysed the strategies put in place for the implementation of Pension Reform Act 2004 in Federal Universities in Southwestern Nigeria and examined institutional facilities and resources provided for the implementation of the Pension Reform Act 2004 in Federal Universities in Southwestern Nigeria. It also assessed the extent of the implementation of the Pension Reform Act 2004 and analyzed the challenges facing the implementation of the Pension Reform Act 2004 in Nigeria. These were with a view to evaluating the overall success of the Pension Reform Act 2004. Primary and secondary data were used for the study. Primary data were gathered through questionnaire administration and conduct of structured interviews schedule. The study population (14,468) consists of both junior and senior staff members of four purposively selected Federal Universities in southwestern Nigeria. These are University of Ibadan (UI); University of Lagos (UNILAG); Obafemi Awolowo University (OAU), Ile-Ife; and Federal University of Technology, Akure (FUTA). The raison d'être for choosing the four universities depended on - age, generation institutional scope; and the four universities have implemented PRA, 2004. From the population, 724 copies of questionnaire, covering 5% of the study population, were administered on respondents using a multi-stage sampling technique. Interviews were conducted with seven purposively selected individuals comprising two executives staff of the retirees unions in the study areas; Director, Research and Corporate Affairs Department in PenCom, Abuja; and four Managing Directors of Assets and Resource Management (ARM); Stanbic IBTC Pension Limited, First Guaranty Pension Limited and Crusader Sterling Pension Limited whose views were considered germane to this study. Secondary data were extracted from PenCom annual reports, government publications and official documents of the selected institutions. Data collected were analyzed using percentage, frequency distribution, content analysis and chi-square. The study revealed that monetary penalties were imposed on many organisations for continued violation of the provisions of the PRA 2004. The Commission conducted on-site and off-site inspection on 271 organisations during the period under review. Report showed that many organisations were also publicly censured. On the institutional facilities and resources available for the implementation of PRA 2004, the study showed that there were among others the Compliance and Enforcement Department, which were mandated to implement various strategies to ensure compliance with the provisions of the PRA 2004. The study further revealed that implementation of the Provisions of PRA 2004 by PenCom should be scored high (77.7%), that all staff had been receiving alerts on their retirement Savings Account regularly (66.2%). The study showed significant different opinion on whether Implementation of the provisions of PRA 2004 by PENCOM should be scored high (𝜒² (4) = 467.272, P<0.05).The study revealed that the balance in the statement of RSA is the true reflections of my contributions and that of my employer (71.3%) and Workers are not carried along in the formulation of Present Contributory Pension Scheme (CPS) (65%) were the challenges facing the implementation of pension reform Act 2004. The study concluded that the implementation of Pension Reform Act 2004, achieved a relative degree of success albeit with some few challenges
INCORPORATING ENVIRONMENTAL COSTS INTO NIGERIAN OIL AND GAS ACCOUNTING
(2007) AMOS AKINTOLA OWOLABI
This study evaluated the extent of awareness and protective measures by stakeholders of environmental costs in the Nigerian oil and gas industry. It also identified and assessed the environmental factors in the industry that need to be accounted for. These efforts were with a view to developing an accounting model for measuring environmental costs in the industry. Data were obtained through two sets of questionnaire survey. The first set evaluated the extent of awareness and protection measures of environmental costs in the oil and gas industry using a 5- point Likert scale. The second set focused on the identification, assessment and evaluation of the perceived impacts of environmental factors by stakeholders in the oil and gas industry. Forty-two environmental variables obtained from literature and confirmed by experts in the industry were included in the survey questionnaire. Out of a population of 3,200; 540 respondents were selected through stratified purposive sampling from the relevant stakeholder groups. These included accountants, engineers, scientists, health officers, environmentalists and other managers from the five upstream and eight downstream oil companies, one state ministry of environment from each of the eight oil producing states, Federal Ministry of Environment, oil community, oil services companies, Nigerian National Petroleum Corporation, Department of Petroleum Resources and Non-Governmental Organizations. Data from the survey were subjected to descriptive and inferential statistical analyses/secondary data on estimates of revenue and costs associated with recently completed/on-going oil sites were obtained from the records of the stakeholders. These constituted the input data set used in developing the accounting model. In addition to this data set, the forty-two environmental variables identified in the second questionnaire were parsimoniously reduced to a five-factor solution using factor analysis. The results of the study indicated that the respondents demonstrated a high degree of awareness of environmental issues in the industry (overall mean rating of 4.41 out of a maximum of 5.00 on a Likert scale) and a positive attitude towards environmental costs and liabilities (overall mean rating of 3.51). From the forty-two environmental variables, a five-factor solution with their factor loading was obtained from the factor analysis. These were: XI = 'impact on public health (7.95%)', X2 = `occupational health impact (39.04%)', X3 = `impact on agricultural produce (3.24%)', X4 = `marine and fresh water impact (5.5%)', and X5 = `building and infrastructural materials (11.07%)'. These five factors were employed to develop a multi linear regression accounting model: S = 1758.4325 + 3.9460496X1 – 28.07389X2 + 7.3036634X3 + 0.5642708X4 + 23.019651X5, where, S was revenue and X was costs. The developed model was later validated using 10 sets of virgin data. The result indicated low percentage deviation of the model from the actual values (largely within ± 15%). Also the standard measures of accuracy of the regression model were high (R2 = 0.937; F = 86.8; P < 0.05) suggesting its high predictive ability. In conclusion, the study showed that there was a high degree of awareness to environmental issues and a positive attitude towards environmental costs and liabilities in the Nigerian oil and gas industry. The result also concluded that environmental costs could be incorporated into a revenue accounting model.
INNOVATION AND THE PERFORMANCE OF SELECTED SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA
(2019) JOHN OLUWASEGUN AJIBIKE
The study investigated the product innovation features of small and medium scale enterprises (SMEs) and determined the extent of process innovation among Nigerian SMEs. It also analysed the marketing innovation, assessed organizational innovation among the SMEs and examined the influence of the various types of innovation on SMEs’ performance in Nigeria. These were with a view to examining the effect of innovation on the performance of SMEs in Nigeria. Secondary data were obtained from Nigeria innovation survey database (2011), undertaken among 500 small and medium scale enterprises with about 41% response rate. The instrument used in the survey was guided by Oslo manual, standardised through validation workshops under the New Partnership for Africa’s Development African Science Technology and Innovation Indicators (NEPAD ASTII) initiative. Primary data were used to complement the secondary data on SMEs in selected local government areas in South-West Nigeria. A structured questionnaire was used to elicit information from selected respondents in the three selected States of Lagos, Oyo and Ogun (because of the large presence of SMEs in the selected States and local government areas). Simple random sampling technique was adopted in selecting a sample size of 400. The data obtained were analysed using percentages, binary and ordered logistics regression techniques. The result revealed that improved goods (56%), product innovation developed mainly by enterprise (28%), product innovation developed by enterprise with other enterprise/institutions (85%), product innovation developed by other enterprises/institutions (96%) and product innovation developed mainly by enterprises modifying of others (79%) were product innovation features of SMEs. Finding also showed that improved production methods (49%), improved logistics, delivery and distribution (52%), improved support services (52%), process innovation developed by enterprise/group (29%), process innovation by enterprise with other enterprises (85%), process innovation developed mainly by other enterprises/institution (96%), process innovation developed by enterprise by modifying innovation of others (78%) portrayed the extent of process innovation among Nigerian SMEs. In addition, the result revealed that improved packaging (48%), improved sales and sales method (51%) and new technologies for product promotion (53%) were the marketing innovation adopted by the SMEs. Furthermore, the result showed that improved knowledge management system (43%), major changes to workplace organization (40%), improved relationships and (61%) were peculiar organizational innovation among the SMEs. Finally, the result that revealed organizational innovation (t = 3.194, p < 0.05), marketing innovation (t = 2.359, p < 0.05), product innovation (t = 2.393, p < 0.05) and process innovation (t = 2.359, p < 0.05) had significant influence on firm performance. The study concluded that innovation had significant effect on the performance of SMEs in Nigeria.
INTELLECTUAL CAPITAL, CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE OF QUOTED NON-FINANCIAL COMPANIES IN NIGERIA (2007-2017)
(2019) ADESANMI TIMOTHY ADEGBAYIBI
The study analysed the trend and pattern of intellectual capital among quoted non-financial companies in Nigeria and evaluated the extent of corporate governance practices among quoted non-financial companies in Nigeria. It also examined the effect of intellectual capital on performance measures of quoted non-financial companies in Nigeria and investigated the moderating role of corporate governance on the relationship between intellectual capital and performance. These were with a view to providing information on the extent to which corporate governance strengthens the relationship between intellectual capital investment and financial performance of firms in Nigeria. Secondary data were employed for this study. Purposive sampling technique was used to select a sample of 50 companies out of the total population of 80 non-financial quoted companies whose stocks were actively traded on the Nigerian Stock Exchange for the period of 2007 to 2017 and whose data on relevant information were readily available and accessible. The choice of base year 2007 was informed by global economic recession that affected the financial performance of quoted non-financial companies in Nigeria. Data on intellectual capital and corporate governance such as human capital, structural capital, capital employed, board characteristics, ownership structure and firms’ economic data were sourced from the audited financial statements of sampled companies. Data collected were analysed using tables, percentages, content analysis and regression analysis. The results revealed that the trend and pattern of intellectual capital among quoted non-financial companies in Nigeria vary ranging from -1.59 (Human Capital Efficiency), -0.81 (Structural Capital Efficiency) and -11.40 (Capital Employed Efficiency) to 428.43 (Human Capital Efficiency), 343.51(Structural Capital Efficiency) and 151.5 (Capital Employed Efficiency) across sectors and period. The result also showed that the extent of corporate governance practices among quoted non-financial companies in Nigeria as at 2017 was low at an average of 34.84%. Furthermore, the result revealed that human capital efficiency (t = 3.1319, p < 0.05), capital employed efficiency (t = 6.7011, p < 0.05), firm size (t = 2.2177, p < 0.05) had significant effect on return on equity while capital employed efficiency (t = 13.5989, p < 0.05) and leverage (t = 4.7112, p < 0.05) had significant effect on return on assets. Finally, the result showed that human capital efficiency (t = 2.1617, p < 0.05), structural capital efficiency (t = 2.3288, p < 0.05), capital employed efficiency (t =12.9183, p < 0.05) and leverage (t = 2.5309, p < 0.05) had significant effects on return on assets while corporate governance had moderating effect on the relationships between intellectual capital and the firm performance through the capital employed efficiency (t = 2.7389, p < 0.05), human capital efficiency (t = 2.2293, p < 0.05) and structural capital efficiency (t = 2.1051, p < 0.05). The study concluded that corporate governance moderated the effect of investment in intellectual capital on financial performance in Nigeria.
INTERNATIONAL FINANCIAL REPORTING STANDARDS AND EARNINGS MANAGEMENT AMONG QUOTED NON-FINANCIAL FIRMS IN NIGERIA (2007-2016)
(2019) KOFO AMOS ADEGBOYE
The study analysed the trend of earnings management in listed non-Financial companies in Nigeria from 2007-2016 and examined the determinants of earnings management among selected listed non-Financial companies in Nigeria during the study period. It also assessed the direction of causality between earnings management and quality of accounting information and evaluated the effect of International Financial Reporting Standards (IFRS) implementation on earnings management of Nigerian quoted non-Financial companies during the period. These were with the view to providing an insight on the effect of the mandatory adoption of IFRS on earnings management among quoted non-financial firms in Nigeria between 2007 and 2016. Data were collected from primary and secondary sources. The population consisted of 84 quoted non-financial companies in Nigeria. A sample size of 62 non-Financial firms whose shares were traded during the period 2007 - 2016 were purposively selected based on availability and accessibility of data. Year 2007 was chosen as the base year due to the fact that the global economic recession coupled with the high level of international business competitions became prominent making sustainability of performance elusive for reporting entities. Primary data were sourced through the administration of open and close-ended structured questionnaire. Data on IFRS adoption and earnings management were sourced from annual reports and accounts of companies and from Nigerian Stock Exchange Factbooks. Data were analysed using percentages, pooled ordinary least square, random and fixed effect models as well as granger causality test. The results showed that earnings management witnessed a rising trend in discretionary accrual during the whole ten years` period (2007-2016) from -0.050 in 2007 to 0.036 in 2016 with smallest -0.046 and highest 0.051 in 2012 and 2013 respectively. The results showed that the leverage (r = 0.1150; p < 0.05) and growth (r = 0.006; p < 0.01) were the determinants of earnings management. In addition, the results showed that a bi-directional relationship existed between earnings management (z = 4.860; p < 0.01) and quality of accounting information (z = 4.7976; p < 0.01). Finally, the results revealed that IFRS adoption (r = -0.0616; p > 0.05) showed a negative and insignificant effect on earnings management. The study concluded that IFRS adoption had no significant effect on earnings management among sampled quoted non-financial firms in Nigeria during the study period.
SMALL ARMS AND LIGHT WEAPONS PROLIFERATION AND HUMAN SECURITY IN THE NIGER DELTA REGION OF NIGERIA (2009-2018)
(2020) ALIRU ABIODUN, ADIATU
SOCIO-ECONOMIC INFLUENCE OF SHARI'AH ON PRODUCTION AND MARKETING PRACTICES IN NORTHWESTERN NIGERIA
(2007) BALA, HALIRU
The study identified the socio-economic tenets and injunctions of Shari'ah that regulate the production and marketing practices and appraised their effects on production practices, with a view to determining the extent to which they affect the development of marketing promotion strategies in Northwestern Nigeria. The study was conducted in Northwestern Nigeria, namely in Jigawa, Kaduna, Kano, Katsina, Kebbi, Sokoto and Zamfara States; purposively selected to reflect the core of Shari'ah States. The data were gathered using primary and secondary sources. Multi stage and random sampling techniques were used in selecting 1,392 respondents for the study (180 management staff, 460 traders, 692 consumers and 60 staff of production section) out of 2,000,915. Questionnaires were used to elicit information and were validated by experts in the Shari'ah Law, Arabic and Islamic Studies. The data generated from the survey were subjected to both descriptive and inferential analyses. The findings revealed a significant relationship (r = 0.872; P < 0.001) between Shari'ah socio-economic tenets and injunctions on marketing practices. A significant relationship (r = 0.502; p<0.001) was also revealed between Shari'ah socio-economic tenets and injunctions and production practices. The study further showed that there was a significant positive correlation (r = 0.731; P < 0.001) between Shari'ah Socio-economic tenets and injunctions and marketing promotion strategies. The study concluded that Shari'ah socio-economic tenets and injunctions have influence on production and marketing practices, in particular the marketing promotion strategies.
STRATEGIC ENTREPRENEURSHIP AND PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES (SMEs) IN SOUTH- WEST NIGERIA
(2021) EBENEZER AKINSANYA OKE
The study analysed the extent of which strategic entrepreneurship was practiced among small and medium scale enterprises in South-west Nigeria; and, examined the determinants of strategic entrepreneurship practices in the enterprises. It also investigated the influence of strategic entrepreneurship on the operational performance of the enterprises and determined the effect of strategic entrepreneurship on the firms’ financial performance. Furthermore, the study assessed the challenges confronting the practice of strategic entrepreneurship in the enterprises. These were with a view to evaluating how strategic entrepreneurship enhanced organisational performance of Small and Medium-scale Enterprises (SMEs) in South-west Nigeria. The study adopted a descriptive survey research design and used primary and secondary sources of data. The population for the study consisted of 23,290 owners/managers of enterprises in South-west Nigeria. Multi-stage sampling technique was used. At the first stage, three (3) states, namely: Lagos, Oyo and Ogun states were purposively selected out of the six states in South-west Nigeria because of the concentration of enterprises in the three states. At the second stage, three (3) Local Government Areas (LGAs) were purposively selected from each of the selected states because of the concentration of enterprises in the area, giving a total of nine (9) LGAs. Using Slovin’s formula, a sample size of three hundred and ninety-three (393) enterprises was randomly selected from the population. In addition, proportionate stratification method was used to obtain the sample from the selected Local Government Areas (LGAs). A structured questionnaire was administered to the respondents who were owners/managers of the selected enterprises. The secondary data were obtained from pamphlets and official releases of the Ministry of Commerce and Industry in addition to already existing literature. The data collected were analysed with descriptive statistics: means score, graphs and inferential statistics: Pearson correlation. The results showed that 58.6% of the enterprises in South-west Nigeria were beyond average level in the practice of strategic entrepreneurship while 41.4% of the 374 enterprises were below average. Specifically, opportunity recognition (75.6%), judgment (79.8%), innovation (81.0%), and creativity (75.0%) were prominent strategic entrepreneurship practices in the firms. The study also showed that the determinants of strategic entrepreneurship in the SMEs were government policy (t = 3.50, p < 0.01), competitor (t = 3.13, p < 0.01), technology (t = -8.89, p < 0.01), resources (t = 2.76, p < 0.01) and culture (t = 2.10, p < 0.01). Furthermore, the study established that strategic entrepreneurship strongly influenced the operational performance of the SMEs (t = 16.84, p < 0.01) in the study area. Also, the study established that strategic entrepreneurship had a significant effect on the financial performance of SMEs in South-west Nigeria (t = 8.87, p < 0.01). Finally, the study found that the major challenges encountered in the practice of strategic entrepreneurship included accessing of funds for the business (84%), unstable government policies (76%), inadequate customer database (64%), unstable business environment (61%), and government interference (54%). The study concluded that the practice of strategic entrepreneurship had a notable effect on the performance of small and medium scale enterprises in the study area.
STRATEGIC HUMAN RESOURCE MANAGEMENT PRACTICES AND PERFORMANCE OF SPECIALISED UNIVERSITIES IN SOUTH-WEST NIGERIA
(2021) MATHEW ODUNLADE AYOOLA
The study examined the extent of strategic human resource management practices on performance of the specialised universities in Southwest Nigeria. It investigated the degree of variation in strategic human resource management practices and determined the effect of strategic human resource management practices on the performance of the institutions. It also examined the challenges facing the implementation of strategic human resource management practices in the specialised universities. These were with a view to evaluating how strategic human resource management affected performance of the specialised universities in the region. The study adopted a descriptive survey research design and used primary and secondary data. Eight (8) specialised universities in Southwest Nigeria which comprised two (2) Federal, Six (6) State and two (2) private constituted the population. Purposive sampling technique was used to select the two (2) Federal and two (2) out of the six (6) State specialised universities totalling four (4) selected specialised universities for the study. Purposive sampling technique was used to select 216 major officers that were principally involved in Strategic Human Resources Management (SHRM) issues in the selected universities. Data on variables such as training and development, recruitment and selection, performance appraisal, compensation system, employee participation, career planning and employment security were obtained from the respondents through structured questionnaire. Data were analysed, using both descriptive statistics such as frequency, percentage, mean, standard deviation and inferential statistics such as one-way Analysis of Variance (ANOVA) and multiple linear regression. The results showed that all the identified elements of strategic human resource management practises were implemented up to an average of 69.3% in the specialised universities. Also, a high degree of variation in strategic human resource management practises in the universities was found (76.8%) and this was confirmed by a mean value of 3.84 (SD = 0.973) on a scale of 5. Findings further depicted that at 5 degree level of significance, although, each element of strategic human resource management practices was positively related to performance, only recruitment/selection (t =2.919, p < 0.05), career planning (t = 2.89, p < 0.05) and employment security (t = 2.061, p < 0.05) were statistically significant to performance of the specialised universities. The study finally identified some challenges, notably, organisation culture (73.60%), top management support (72.08%), communication policy (69.04%) and management’s understanding of strategic human resource practices (69.04%) as affecting implementation of strategic human resource management practices in the specialised universities. The study concluded that strategic human resource management practices had a considerable and positive effect on organisational performance in the specialised universities in Southwest Nigeria.
TAX PLANNING AND COMPLIANCE AMONG REGISTERED SMALL AND MEDIUM SCALE ENTERPRISES IN SELECTED SOUTHWESTERN STATES IN NIGERIA
(2020) ADEWUMI RAMAT ADEDOYIN
This st udy exa mi ned t he level of tax planni ng activities a mong Small and Medi um scal e Ent erprises (SMEs) i n sel ected Sout hwest ern Stat es in Ni geria and determi ned t he compliance level of SMEs t o tax policies in the selected states. It also investigated the deter mi nants of tax compliance a mong SMEs and anal ysed t he effects of tax planni ng on compl iance a mong SMEs i n the selected states. These were wit h a view t o provi di ng i nfor mati on on how t ax pl anni ng a mong S MEs enhanced compliance wit h tax policies. This st udy e mpl oyed survey research desi gn. Primar y data were sourced from registered SME operat ors who are resi dent in Lagos, Oyo and Osun St ates. The choi ce of these states was i nfor med by t he fact that they have the hi ghest numbers of S MEs i n Sout hwestern Nigeria. Usi ng Ya mane for mul a, the st udy surveyed a sa mpl e size of 400 SMEs out of 21, 922 who are registered wit h t he Small and Medi um Enterprises Devel opment Agency of Ni geria (SMEDAN) as at 2013. Pur posi ve sa mpli ng techni que was used t o select the respondents. Dat a on variables such as level of tax planni ng acti vities, compliance level of SMEs t o tax policies, deter mi nants of tax compliance and t he effect of tax planni ng on compliance were sourced t hrough t he admi nistrati on of struct ured questi onnaire. Dat a collected were anal ysed usi ng mean, standard devi ati on, and Or di nary Least Square multiple linear regressi on anal ysis. The results showed t hat the level of tax planni ng acti vities a mong registered SMEs i n Sout hwestern Ni geria is hi gh rangi ng from cash met hod of accounti ng 76 %, tax rate 69 %, invest ment in securities 63 % t o tax i nfor mation and depreciation 69% a mong S MEs i n Sout hwestern Ni geria) The results also showed t hat the compliance level of SMEs on average with government tax policies was moderate (55. 5%). In addition, the st udy i dentified taxpayers’ attitude (66 %), busi ness fact ors (61. 25 %), econo mi c environment al fact ors (58. 7 %), and tax admi nistrative fact ors (51 %) as maj or deter mi nants of tax compliance a mong SMEs. Lastl y, the results reveal ed t hat cash met hod of accounti ng (t = 3. 16, p < 0. 05), favourabl e tax rate (t = 3. 13, p < 0. 05), provisi on of tax i nfor mati on (t = 2. 58, p < 0. 05), and depreciation deducti on usi ng cost segregati on (t = 2. 50, p < 0. 05) had positive and si gnificant effect on tax compliance a mong SMEs. The st udy concl uded t hat tax planni ng enhanced t he compliance of SMEs t o tax policies i n Sout hwestern Ni geria.

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