Department of Banking and Finance

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    Designing for Engagement: Exploring Undergraduate Preferences and Use of Digital Library Resources through a User-Centered Design Lens
    (New Review of Academic Librarianship, 2026-06) Segun-Adeniran, Chidi D.; ALEGBELEYE, Bunmi Gabriel; Owolabi, Ruth; Olayinka, Buraimo
    Digital library resources (DLRs) are essential for academic excellence and improved research output, particularly in Nigerian universities with limited physical resources. This study examined how user preferences influence DLR usage by undergraduates in private universities in South-West Nigeria, using the User-Centered Design (UCD) theory. Key indicators considered were access methods, content formats, interface design, interaction modes, and personalization. A descriptive survey design was adopted, and data were collected from 343 students selected through multistage sampling. Descriptive and inferential statistics were used for analysis. Findings revealed DLRs were mainly used for assignments, term papers, and research. A significant positive relationship exists between user preferences and DLR utilization, showing the need for libraries to customize platforms for accessibility and satisfaction. Aligning DLR design with user preferences is crucial for optimizing academic outcomes in Nigerian private universities
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    Central Bank Autonomy and Stock Market Index in Nigeria: An ARDL and TYDL Granger Causality Approach
    (Sage, 2022) Olurin, Enitan Olurotimi; Olokoyo, Felicia O.; Adetiloye, Kehinde A.
    Following the trend of granting autonomy to monetary authorities around the world beginning from the mid-1900s, the Central Bank of Nigeria had its share of gradual autonomy from 1991 culminating in the 2007 legislation. This study investigated the effect of central bank autonomy (CBA) on the stock market index (SMI) in Nigeria with data on market index, foreign direct investment (FDI), gross domestic product per capita, inflation rate, terms of trade, trade openness and effective central bank autonomy index from 1985 to 2018. The study adopted the autoregressive distributed lag and Toda–Yamamoto and Dolado–Lutkepohl approach to Granger causal ity. The study finds that there is no long-run relationship between the variables estimated, though short-run relationships exist. CBA has a statistically negative impact on the SMI, while FDI has a positive significant relationship with the SMI only in the short run. The only significant causality runs from FDI to SMI. The study, therefore, recommends that the Central Bank of Nigeria should have a higher level of instrument autonomy and should endeavour to come out with monetary policies that encourage diversification of the economy and engender growth in the capital market.
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    TAX REFORMS, DIGITALIZATION AND GOVERNMENT REVENUE IN NIGERIA
    (Asian Economic and Financial Review, Vol. 12, No. 9, 2022) Ajetunmobi, Opeyemi; Ojeka, Stephen; Fakile, Samuel; Olokoyo, Felicia; Eluyela, Damilola
    In Nigeria, tax income collection has become a crucial policy goal for the government. The influence of tax reforms and digitalization on government income in Nigeria is therefore investigated. The study focuses on evaluating the distributional outcomes of tax revenue and digitalization on both federal and state government revenues. An ex post facto research design was adopted in the study and both descriptive and inferential analysis of the hypothesized relationships was performed. The relationships are analyzed using secondary data from 1996 to 2020 and a dynamic framework based on the autoregressive distributed lag (ARDL) approach to cointegration. The study confirmed that company income tax reforms improved federal government revenues but inhibited state government revenues (SGR) in Nigeria. It is therefore recommended that the conduct of fiscal reforms in Nigeria should evolve to become more of a bottom–top approach where all tiers of government are included.
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    Determinants of International Reserves Among Organisation of Petroleum Exporting Countries (OPEC)
    (Comparative Economic Research. Central and Eastern Europe Volume 25, Number 3,, 2022) Bada, Oladejo Tokunbo; Adetiloye, Kehinde Adekunle; Olokoyo, Felicia Omowunmi; Ukporhe, Grace
    Member countries of the Organisation of Petroleum Exporting Countries (OPEC) are always in the news regarding the prices and supply of crude oil to the international market. One of the economic reasons for this is liquidity and the desire to accumulate international reserves by the respective countries. This paper examined the determinants of international reserves among the cartel against the backdrop of the motives for keeping reserves. With data from 2005 to 2018, the adopted variables that were tested with the system of generalised methods of moments (Sy‑GMM) are inflation, exchange rates, oil prices, crude oil dependence, economic crises and others. The results and outputs show that inflation was negatively impactful externally and internally, while FDI inflows recorded negative significance. Economic crises and economic openness were positively significant, while oil prices and exchange rates were not significant determinants of international reserves accumulation. The paper recommends the maximisation of opportunities available by members during economic crises to accumulate reserves that will enable them to diversify from dependence on crude oil exports to include other products and a higher level of openness to open the economy up for competition to make the economies stronger.
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    Determinants of International Reserves Among Organisation of Petroleum Exporting Countries (OPEC)
    (Comparative Economic Research. Central and Eastern Europe Volume 25, Number 3, 2022) Bada, Oladejo Tokunbo; Adetiloye, Kehinde Adekunle; Olokoyo, Felicia O.; Ukporhe, Grace
    Member countries of the Organisation of Petroleum Exporting Countries (OPEC) are always in the news regarding the prices and supply of crude oil to the international market. One of the economic reasons for this is liquidity and the desire to accumulate international re serves by the respective countries. This paper examined the determinants of international reserves among the cartel against the backdrop of the motives for keeping reserves. With data from 2005 to 2018, the adopted variables that were tested with the system of gen eralised methods of moments (Sy‑GMM) are inflation, exchange rates, oil prices, crude oil dependence, economic crises and others. The results and outputs show that inflation was negatively impactful externally and internally, while FDI inflows recorded negative signifi cance. Economic crises and economic openness were positively significant, while oil prices and exchange rates were not significant determinants of international reserves accumula tion. The paper recommends the maximisation of opportunities available by members during economic crises to accumulate reserves that will enable them to diversify from depend ence on crude oil exports to include other products and a higher level of openness to open the economy up for competition to make the economies stronger.
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    Renewable Energy Financing and Sustainable Industrial Development in Nigeria
    (International Journal of Energy Economics a nd Policy 12(4), 2022) Asemota, Franklin Famous; Olokoyo, Felicia O.
    Due to the inability of renewable and non-renewable sources of energy to meet the ever-increasing industrial energy need in Nigeria, there is therefore need to explore various financing option available to execute renewable energy project that will contribute to the energy basket which will sustainably impact industrial development in Nigeria. Obtaining secondary data from World development indicator from 1980 to 2021, the study utilized the auto regressive distributed lag method to estimate the long run impact of renewable energy financing and sustainable industrial development in Nigeria. The findings reveal that the use of external debt for financing renewable energy as well the use of energy from Combustible waste source and alternate nuclear source significantly and positively determines the development of the industrial sector in Nigeria. While the use of taxation and donation to fund renewable energy as well as the use of energy source from hydroelectric were not contributing significantly to sustainable industrial development in Nigeria. The study further recommends that relevant framework that will make investment in renewable energy as well as the utilization of renewable energy to be attractive to various stakeholders in Nigeria should be established. The underlying downside risk in renewable energy utilization and financing must be address so as to mobilize sufficient private sector investment needed to drive sustainable industrial development in Nigeria.
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    Attaining Sustainable Development in Africa through Renewable Energy Financing
    (International Journal of Energy Economics and Policy, 2025) Asemota, Franklin Famous; Olokoyo, Felicia O.; Adetiloye, Kehinde A.; Ehikioya, Benjamin Ighodalo
    Finding a sustainable solution to climate change based on the unique attributes of Africa requires some well-structured bespoke green financial vehicles that will spur development not only from economic standpoint but also in the quality of the environment and social wellbeing of the populace. This study therefore examines the role renewable energy financing in harnessing sustainable development in Africa. The study thus employed the panel ARDL estimation technique to analyse this relationship while limiting the sample size to limited to Nigeria, South Africa, Kenya and Egypt representing countries with significant renewable energy investment from 1990 to 2023. Findings depict that in the short run, insignificant relationships were found between renewable energy utilisation and economic sustainability as well as between renewable energy utilisation and environmental sustainability. However, in the long run, the relationships are revealed to be both negative but statistically insignificant for economic sustainability but significant for environmental sustainability. The substantial negative effect of renewable energy usage on carbon emissions follows worldwide expectation and reflects clean energy as a solution to environmental deterioration. This study recommend that government should utilize both fiscal and monetary instrument to encourage renewable energy investment in Africa. This can be in the form of tax incentive and grant on green project that are executed in Africa. Foreign direct investment should be channelled to green project that promote skill enhancement and sustainable workforce. The use of tailored regulation to create a renewable energy market for local and foreign investor and at the same time creating an unfavourable environment for investment in fossil fuel in Africa.
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    ASSESSING CREDIT RISK AND LENDING PATTERN IN THE NIGERIA BANKING SECTOR
    (JOURNAL OF SOUTHWEST JIAOTONG UNIVERSITY, 2022-02) Isayinka, Isaac Ayomide; Asemota, Franklin Famous; Babajide, Abiola
    This article collected secondary data in yearly time series from 2007 to 2020 to analyze nonperforming loans, liquid reserves to assets ratio, capital to assets ratio, domestic credit, and exchange rate and their effects on Nigerian lending rate. The constructed and analyzed model was estimated via the least square technique to achieve its goals. Findings in this research reveal a beneficiary influence of nonperforming loans, capital to asset ratio, and exchange rate on bank lending rate. While liquid reserves to assets ratio, and domestic credit exhibits inverse relation with lending rate. Hence, the relationship between nonperforming loans, liquid reserves to assets ratio, and domestic credit are statistically significant with lending rate. Capital to asset ratio, and exchange rate exhibits an insignificant relation with lending rate. The research suggests consequently that both private individuals and business entities should exercise caution when taking out loans, ensure that the total amount borrowed is sufficient to cover all of their needs. Banks need to use caution when making loans; the prime motive for lending money should not merely be to make a profit. Credit risk is considered substantial; banks need to lower nonperforming loan portfolio and by this, both banks and their clients will experience great benefits.
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    Assessing Liquidity Management and Profitability of Quoted Industrial Goods Companies in Nigeria.
    (Journal of Southwest Jiaotong University, Vol 58. No. 3, 2023-06) Asemota, Franklin Famous; Ikpefan, Ailemen O.; Bolanle, Awogbenja Bukola; Adewolu, Michael Abidemi; Aguzue, Sandra Adaeze
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    Dataset on Digital Financial Inclusion and Artificial Intelligence: A Structural Equation Modelling (SEM) Approach
    (Peer Review, 2024) Jegede, Wuraola P.; Ikpefan, Ailemen O.; Omankhanlen, Alexander Ehimare; Okorie, Uchechukwu E.