College of Management and Social Sciences

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Financial Deepening and Economic Growth Nexus in Nigeria
(Scitech Journal, 2026) OMANKHANLEN, Alexander Ehimare; Omokore, David Eyitayo; Olusuyi Ajayi; Akinjare, Victoria Abosede
This study explored the relationship between financial deepening and economic growth in Nigeria over the period 1971 to 2020. The literature presents differing views on whether financial deepening has a positive effect on economic growth, prompting further empirical investigation. Annual data on key variables-such as lending interest rate, bank capital, bank liquid reserves, domestic credit, and stock traded-were obtained from the World Bank Indicators. The analysis employed an Ordinary Least Squares (OLS) regression model to assess the effects of these variables on Nigeria’s GDP. The results indicated that bank liquid reserves had a positive and statistically significant impact on GDP at the 5% significance level, while domestic credit and stock traded were positive but not statistically significant. Based on these findings, the study recommends that the Central Bank of Nigeria (CBN) urgently reconsider its monetary policy rate and the volume of financial resources allocated to the private sector. Additionally, measures should be introduced to cushion the effects of disinvestment and to promote policies that enhance income, liquidity preferences, and savings behavior among citizens, all of which can contribute to a more resilient economy. Finally, financial institutions are encouraged to develop a wider range of financial instruments to attract investors and mobilize idle funds for productive investments.
Artificial Intelligence Application and Financial Inclusion Nexus on Sustainable Development Goals (SDGs) in Nigeria
(posthumanism.co.uk, 2025) OMANKHANLEN, Alexander Ehimare; JEGEDE, Wuraola Pelumi; NWOBODO, Helen
This study evaluated Artificial Intelligence Applications and Financial Inclusion Nexus in Nigeria. Financial institutions have always had the problem of meeting the financial needs of the low-income group in society, though, they have done their best to meet their needs, their effort have not yielded good results. Getting individuals and businesses into the formal financial net has been a problem. The present SDGs as constituted rest more on inclusiveness, especially financial inclusion. The SDGs comprise an ambitious 17 goals. While the Sustainable Development Goals (SDGs) do not explicitly address financial inclusion, increased access to financial services is a crucial facilitator for achieving many goals. The financial institutions and products are not suited for the low-income group in society, in addition, rural dwellers do not have access to financial institutions and products. The study used survey instruments and interviews for data collection. That is. using the mixed research method with data from three hundred and eighty-four respondents selected from rural communities, financial institutions, and universities in South-West Nigeria. The data were analysed using descriptive statistics, confirmatory factor analysis, regression analysis, structural equation model (SEM), and narrative technique. The results indicate that AI applications have significantly impacted financial inclusion in South-West Nigeria. Based on this, the study recommended that financial institutions invest in building AI-enabled platforms in local languages that will respond to customers’ needs

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