Department of Banking and Finance
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Item Monetary Policy Rate And Poverty Reduction In Nigeria: The Role Of Microfinance Banks(Jurnal Akuntansi dan Bisnis : Jurnal Program Studi Akuntansi., 2025) Adesina, Tolulope; Makinde, Damilola Ayomiposi; Omankhanlen, Alexander EhimarePoverty remains a major socio-economic challenge in Nigeria, despite the expansion of microfinance banking aimed at enhancing credit access for low-income groups. However, the effectiveness of microfinance banks (MFBs) in reducing poverty is increasingly shaped by macroeconomic conditions, particularly the Monetary Policy Rate (MPR), which sets benchmark interest rates across the financial system. High MPRs raise borrowing costs, making loans less affordable for the poor and small-scale entrepreneurs who depend on MFBs for credit. This study investigates the impact of changes in the MPR on poverty reduction in Nigeria, focusing on how monetary policy influences the lending capacity of microfinance institutions. The study is theoretically grounded primarily in the Keynesian Theory of Interest Rate and Investment and the Monetary Transmission Mechanism Theory, which explain how changes in interest rates influence investment and credit flows in the economy. The Credit Rationing Theory further informs understanding of how lending constraints affect credit availability for low-income borrowers. A quantitative approach is adopted, using quarterly time-series data from 2008 to 2023. The Johansen Cointegration Test and Vector Error Correction Model (VECM) are employed to examine both long-run and short-run relationships among key variables. Results show that a 1% increase in MPR leads to an estimated 0.48 percentage point rise in the national poverty rate. In contrast, increases in the loan-to-deposit ratio and capital adequacy ratio of MFBs are associated with reductions in poverty levels. The study concludes that monetary policy decisions significantly affect poverty outcomes through their influence on microfinance operations. It recommends that policymakers adopt inclusive monetary strategies that support affordable microcredit, while maintaining macroeconomic stability, to enhance financial inclusion and reduce poverty.Item Knowledge, Attitude, and Perception of Health and Non-Healthcare Workers Towards COVID-19 Vaccination: Machine Learning Approach(2022) Adesina, TolulopeThere have been concerns globally as to whether taking COVID-19 vaccination is harmful or not. In this study, we conducted an online survey to measure the knowledge and attitude of people, first about COVID-19, and second about COVID-19 vaccination—various analyses such as descriptive statistics, logistic regression, and support vector regression with k-fold cross-validation. The support vector machine and tuned support vector machine suggest a better fit based on cross-validation error. The results show that immigration requirements significantly explain why an individual would accept the COVID-19 vaccine. This study suggests that people in authority should look into people's concerns regarding taking the COVID-19 vaccine and address them accordingly. The study aims to draw the attention of the people to the concern that surrounds taking COVID-19 vaccination and explored various statistical techniques to draw inference.Item IMPACT OF INFLATION AND EXCHANGE RATES ON FINANCIAL PERFORMANCE OF CONSUMER GOODS SECTOR OF THE CAPITAL MARKET IN NIGERIA(IAEME publication, 2025) Adesina, Tolulope; Areghan, Isibor; Omankhanlen, A. E.; Odukoya, Olusoji; Ogunwale, Olurotimi; Ayoade, Olumayowa VincentThis study assesses the impact of inflation and exchange rate on the financial performance of consumer goods sector of Capital market in Nigeria. The study uses purposive sampling technique and elimination method to determine the considered consumer goods companies in Nigeria Capital market over a period of 2012-2023 and analyzed the impact of inflation and exchange rate on the financial performance of these companies measured by earnings per share as the indicator. Regression analysis was used to analyze the data. The result specifically shows that there is inverse relationship between fluctuations in inflation rate, exchange rate and the financial performance of consumer goods sector in the capital market in Nigeria.. The study recommends implementation of price stability programme to regulate inflation and adjustment of exchange rate stabilization policy to reduce import costs and improve the bottom line profitability of the consumer goods companies in Nigeria Capital market.Item E-BANKING CHANNEL TRANSACTION COST AND FINANCIAL INCLUSION IN NIGERIA(African Banking and Finance Review Journal, 2025) Adesina, Tolulope; Akinboni, B. GloryThis study examined the impact of e-banking transactions costs on financial inclusion in Nigeria between 2014Q1-2024Q1. Data were sourced from Central Bank of Nigerian statistical bulletin and the National Bureau of Statistics and analyses were conducted using OLS regression, Johansen cointegration, and Granger causality to evaluate short- and long-run dynamics. The findings revealed that the ATM and debit card prices had detrimental impact on financial inclusion and discouraged usage among low-income patrons, whereas POS, mobile payments, and web-based banking had positive impact that was highly significant, highlighting their contribution to deepening access to financial services. Long-run cointegration indicated that there was a stable relationship between financial inclusion and transaction costs and as a result of the causality findings, most digital channels had bidirectional causality with financial inclusion. The study concludes that while digital innovations contribute to financial inclusion, rising costs have the tendency to reverse the positive effects, thereby frustrating the efforts of achieving the goals of Nigerian monetary authorities in 2030. The study recommended reforms in pricing, cost-effective infrastructure, greater agent networks and tougher competition between providers to ensure affordability and sustainabilityItem A Longitudinal Study of Microfinance and Poverty Reduction in Nigeria(2025) Adesina, Tolulope Femi; Makinde, Damilola AyomiposiThis study investigated the impact of microfinance banks on poverty reduction in Nigeria, with a specific focus on their contributions to financial inclusion and economic empowerment. Despite numerous government-led poverty alleviation initiatives, poverty remains widespread, highlighting the need to explore alternative and sustainable approaches. Drawing on secondary data from the Central Bank of Nigeria and the National Bureau of Statistics, the research applies econometric methods to evaluate the relationship between microfinance operations and key poverty indicators. The findings reveal that microfinance banks play a significant role in reducing poverty by improving access to credit and supporting small-scale enterprises.The study recommends strengthening microfinance institutions through targeted policy interventions to enhance their long-term impact on poverty alleviation.Item Impact of Money Market on the Liquidity of Some Selected Quoted Banks in Nigeria(Science Publishing Group, 2025) Adesina, Tolulope; Okoh, Jude Idemudia; Areghan, Isibor; Olokoyo, Felicia; Ehikioya, Benjamin; Adegboye, Folasade; Omoyin, TaiwoThe issue of bank failure due to low level of liquidity has been an age-long challenge bedeviling the Nigerian banking sector. Hence, this study examined the linkage between money market and the liquidity of some selected quoted banks in Nigeria. Specifically, the study assessed the impact of deposit money banks’ working capital on savings deposits in Nigeria, and it also investigated how the interbank call rate influences monetary policy rate in Nigeria. The research used secondary data from 2014 till 2023 of five (5) selected banks including First Bank PLC, Guaranteed Trust Bank, Zenith Bank, United Bank for Africa PLC, and Access Bank PLC for its analyses. Findings showed that, first, there was a significant and positive relationship between savings deposit rates and working capital, and secondly, monetary policy rate does not have a statistically significant impact on the interbank call rate. The study thus recommended that as savings depo sit rates significantly influence working capital, policymakers should focus on mechanisms that stabilize these rates to ensure consistent liquidity conditions. The study further recommended that understanding the differential impact of various financial indicators on bank liquidity can help policymakers design more targeted and effective monetary policies. For instance, if savings deposit rates significantly influence working capital, policymakers should focus on mechanisms that stabilize these rates to ensure consistent liquidity conditions.Item EFFECTS OF MICROFINANCE BANK’S ASSETS AND PRODUCTS ON POVERTY REDUCTION IN NIGERIA(Covenant University Ota, 2025-03) MAKINDE, Damilola Ayomiposi; Covenant University DissertationThis study investigates the effect of microfinance banks assets and products on poverty reduction in Nigeria. Specifically, it examines the impact of capital adequacy ratio, liquidity ratio, loan-to-deposit ratio, and monetary policy rate on the poverty rate. Using secondary data from the first quarter of 2008 to the fourth quarter of 2023, the study employs Vector Autoregression (VAR) analysis to assess these relationships. The findings indicate that the monetary policy rate has a positive and significant impact on the poverty rate, whereas the loan-to-deposit ratio, liquidity ratio, and capital adequacy ratio exhibit a negative and significant influence on poverty reduction. Based on these insights, the study recommends that microfinance banks enhance loan accessibility, strengthen capital reserves, and promote financial inclusion. Additionally, policymakers should regulate interest rates effectively and implement gender-inclusive strategies to support poverty alleviation effortsItem EFFECTS OF GREEN FINANCING AND INSTITUTIONAL QUALITY ON SUSTAINABLE DEVELOPMENT IN AFRICA(Covenant University Ota, 2025-10) ASEMOTA, Franklin Famous; Covenant University ThesisAs planet earth continue to get hotter, the negative consequences of climate change become more inescapable to its occupants and a one-off solution in the short run becomes difficult due to it dynamic nature. Africa is at the receiving end of the negative consequences of climate change due to its unique adaptive capacity. Millions of livelihoods in Africa are predominantly dependent on primary production and extractive sector which are worst hit by climate change, and this posed a more worsening threat to economic stability and peace in the continent. Hence, Africa requires finances that are strategically structured to sync social, environmental and economical concern to defend itself against climate change. This study therefore explores the role of green financing and institutional quality in harnessing sustainable development in Africa. This study utilized SEM-PLS (Structural Equation Model- Partial Least Square) technique of data analysis to examine green banking practices and sustainable development in Africa. PARDL (Panel Autoregressive– Distributive Lag) was utilize to investigate the impact of green bonds and renewable energy financing on Africa sustainable development while Panel Interaction Effect test was employed to assess the exact influence of institutional quality. The findings reveal a significant positive linkage between green banking initiatives and sustainable development outcomes in the African context. The result suggests that higher Green Banking Adoption (GBA) is associated with greater attainment of Sustainable Development (ASD). The value of green bond, interest rate on green bond and the duration of the bond, have positive and significant impacts on capital market development and carbon emissions. Only the interest rate of the green bond is found to have an insignificant impact on human capital development. 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 although significant for environmental sustainability. Lastly, the interaction of regulatory quality with green bonds value had an insignificant impact on measures of sustainable development, however, the interaction between regulatory quality and interest rate on green bonds showed positive influence on capital market development and carbon emission. This study recommends that the Africa banking sector should unify all their operation to sync with green practices and policies. Establishment of a functional green bonds platform in Africa that will enable clear validation and trading of green finance instruments. Lower interest rate for certified green projects must be mandated to encourage capital flow and reduce the risk associated with renewable energy projects. Lastly, Africa must ensure a stable political climate as it serves as a fundamental catalyst for a sustainable green financial system needed to combat the negatives effects of climate changesItem IMPACT OF MACROECONOMIC VARIABLES ON FOREIGN DIRECT INVESTMENT IN OIL AND GAS INDUSTRY IN NIGERIA(Covenant University Ota, 2025-06) GBEBIKAN, Anthonia Motunrayo; Covenant University DissertationForeign direct investment (FDI) has historically been significantly influenced by Nigeria's oil and gas industry, but ongoing inflationary pressures continue to threaten the stability of investments. The overall increase in price levels, or inflation, affects macroeconomic factors including interest rates, currency rates, and investor confidence. Nigeria's inflation rate has fluctuated over time, which has affected capital inflows into important economic sectors. This study investigated the relationship between macroeconomic variables, sustainable development goal (SDG), and foreign direct investment (FDI) in Nigeria while focusing on the oil and gas sector in Nigeria. The study specifically examined how inflation, exchange rate, global oil price, SDG goal 8 of economic growth measured by economic growth rate, and the control variable interest rate impacted FDI in Nigeria using time series data from 1990 till 2023. The study adopted the ex post facto research design and secondary data from the reports of the World Development Index, Central Bank of Nigeria, National Bureau of Statistics, and the Organization of Petroleum Exporting Countries were used in this study. The estimation techniques used in this study was the Autoregressive Distributive Lag. Findings showed that inflation, exchange rate, and the control variable interest rate had negative and significant impacts while economic growth rate, global oil prices, and the second control variable sustainability index had positive and significant impacts on Nigeria’s foreign direct investment. The study thus recommended that the Central Bank should focus more in managing inflation by controlling excess money in the economy.Item Africans Caught in the Web of Migration, the Fears, the Tears, and the Triumphs(Palgrave Macmillan, 2024) Daudu Basil Osayin; Osimen Goddy U.