Department of Banking and Finance
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Item Africans Caught in the Web of Migration, the Fears, the Tears, and the Triumphs(Palgrave Macmillan, 2024) Daudu Basil Osayin; Osimen Goddy U.Item EFFECT OF WORKING CAPITAL MANAGEMENT ON THE PROFITABILITY OF QUOTED FOOD MANUFACTURING COMPANIES IN NIGERIA(Covenant University Ota, 2025-03) AGBONKHEHI OLIVE OSEIWE; Covenant University DisssertationThis study explored the Effect of Working Capital Management on the profitability of quoted food manufacturing corporations in Nigeria. Specifically, it examined the effects of the Current Ratio, Inventory Turnover Ratio, Cash Conversion Cycle, and Average Payment Period on the profitability of food manufacturing companies in Nigeria. The study employed an ex post facto research design. It utilized various econometric techniques, including panel unit root and cointegration tests, pooled OLS, fixed and random effects models, and the Hausman test. The findings revealed a significant relationship between the Cash Conversion Cycle and Return on Assets, suggesting that a longer Cash Conversion Cycle may improve asset returns. However, CCC had an insignificant relationship with the Net Profit Margin (NPM). Conversely, the Average Payment Period (APP) negatively affected NPM, indicating that delayed payments can harm profit margins, although it did not significantly influence Return on Assets. The rate of inventory turnover and the short-term liquidity metric showed no significant relationship with the Return on Assets. Inventory Turnover Ratio (ITR) also negatively affected Net Profit Margin, suggesting that higher turnover may reduce margins due to potential inefficiencies. The Hausman test favoured the Random Effects Model as the most efficient estimation method. The study concluded that optimizing the Cash Conversion Cycle and Average Payment Period is crucial for enhancing profitability. In contrast, the impact of the current ratio and inventory turnover ratio on profitability is insignificant. Based on these findings, the study recommends that policymakers incentivize efficient liquidity practices, promote timely payments, support advanced inventory management, and encourage strategic partnerships. Companies are also advised to optimize their Cash Conversion Cycle by closely monitoring inventory, receivables, and payables, reconsider payment arrangements, improve inventory management, and optimize asset utilization to enhance profitability.Item EFFECTS OF FINANCIAL TECHNOLOGY, AGENT BANKING ON FINANCIAL INCLUSION IN NIGERIA(Covenant University Ota, 2025-03) OBABUEKI OSARUGUE PEACE; Covenant University DissertationThis study investigates the relationship between financial technology, agent banking, and financial inclusion. Employing secondary data from the Central Bank of Nigeria and Federal Reserve Economic Data, the research utilises the Granger causality test to analyse the period between 2012–2022. The findings reveal that POS transactions significantly affect mobile money account ownership, and mobile money operations exhibit the strongest positive relationship with financial inclusion. Although ATMs are widely used, their impact on financial inclusion is limited by high transaction costs and operational challenges. Mobile account ownership drives web banking usage significantly, but web banking transactions do not significantly impact mobile account ownership. The study recommends enhancing digital infrastructure, promoting financial literacy, and expanding agent networks to bridge regional disparities. By leveraging technological advancements, Nigeria can achieve broader financial inclusion and foster equitable economic growthItem PUBLIC SECTOR EXPENDITURE AND AGRICULTURAL PRODUCTIVITY IN NIGERIA(Covenant University Ota, 2025-03) DUL, SOLOMON FANKUN; Covenant University, ThesisThe agricultural sector has been known to be the backbone of the Nigerian economy ever since the discovery of crude oil in commercial quantity. The sector’s contribution to Gross Domestic Product is 24 percent, 70 percent to total employment and 12 percent from foreign exchange earnings. The Federal Government of Nigeria changes the direction of its expenditure from agriculture to crude oil over time, relegating agriculture to the background. As a result of the challenge of the neglect of agriculture, the researcher must investigate public sector expenditure on agriculture and its effect on agricultural productivity in Nigeria. The study adopts Augmented Dickey-Fuller (ADF) and autoregressive distributed lag (ARDL) for the test estimation for short-run and long-run relationships between the dependent and independent variables, using time series data obtained from the Central Bank of Nigeria (CBN), National Bureau of Statistics (NBS), Federal Ministry of Agriculture and Rural Development (FMARD) and United Nations Conference on Trade and Development (UNCTAD). The findings of the study reveal that ACEXD has a positive and significant co-efficient impact of 0.003966 on AGPO in Nigeria for the long-run relationship. AREXD has a negative and significant co-efficient impact of 0.003805 on AGPO in Nigeria for the long-run relationship. The result of ATEXD shows a positive and significant co-efficient impact of 0.948588 on AGPO. AVAPW has a negative but insignificant co-efficient impact of 0.002075 on AGPO. INTR has a positive but insignificant co-efficient impact of 0.002546 on AGPO. EXVAL has a negative and significant co-efficient impact of 0.008628 on AGPO. CRAGR to DMBs has a positive but insignificant co-efficient impact of 0.001758 on AGPO. EFFRA of public sector expenditure has a positive and significant co-efficient impact of 0.959348 on AGPO in Nigeria. The study, therefore, recommends that the government and other stakeholders in agriculture invest more in technology and innovation in agriculture and increase budget allocation to agriculture in line with the stipulation of the Comprehensive African Agricultural Development Programme (CAADP) and Food and Agricultural Organization (FAO), Government to have engagement with agricultural stakeholders, government to review agricultural policies and programmes, and government to invest in human capital in agriculture.Item Liquidity Management on The Performance of Listed Insurance Companies in Nigeria*(Communications of International Proceedings (IBIMA Publishing), 2022) Oluwatobi Fasheyitan David; Ikpefan Ochei Ailemen; Adegboye AlexA business's viability and success is largely influenced by its liquidity management style and control. This is because either inadequate or excess liquidity may impair the smooth operation of the business. This apparent problem has sparked considerable interest in issues of the management of liquidity in the context of significant financial outlays. However, diagnosis has been scarce in the insurance industry. Thus, the article's objective is to investigate how liquidity impacts the entire performance that results in financial efficiency. The research is based on a sample of ten insurance companies that were publicly traded on the Nigerian Stock Exchange from 2013 to 2019. Using a random effect panel regression model, this research discovered that liquidity management had a strong negative correlation with financial performance metrics in Nigeria's insurance industry. However, just a single positive coefficient was observed with current ratio affects performance in relation to ROA, while ROE was automatically insignificant when the same variables were used. Additionally, what set this investigation apart was the inclusion of economic factors that had no impact on the research. The study concludes, among other things, that given the volatility or risk level connected with insurance companies' services, it is critical for them to constantly invest in accessible assets regardless of the associated cost of payment or in meeting their commitments.Collection