Department of Banking and Finance

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    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 Disssertation
    This 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.
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    EFFECTS OF FINANCIAL TECHNOLOGY, AGENT BANKING ON FINANCIAL INCLUSION IN NIGERIA
    (Covenant University Ota, 2025-03) OBABUEKI OSARUGUE PEACE; Covenant University Dissertation
    This 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 growth