| 1 |
Author(s):
Sunday Otuya, Nelson O. Egware, Joseph E. Eginiwin, Godwin Ofeimun, Fidelis Akporien.
Page No : 1-10
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ICT Proficiency and the Accounting Profession in Nigeria
Abstract
The study was carried out to assess ICT proficiency of accounting practitioners as one of the contemporary challenges facing the accounting profession and education in Nigeria. The study was anchored on the Technology Acceptance Model (TAM) and adopted the survey research design. The population of the study consists of accounting practitioners in Delta State. Data were collected through questionnaires. Using a purposive sampling method, 80 accounting practitioners made up lecturers and chartered accountants (in practice) were selected for the study. Descriptive statistics was used to assess the level of proficiency while an independent sample t-test was used to examine the difference in level of proficiency. The study found proficiency in usage of software packages to include Microsoft Word - 100%; Excel spreadsheet - 76%; PowerPoint presentation - 78%; QuickBooks - 38%; Sage (any version) - 42% and XBRL - 8%. The study also found a significant difference in level of proficiency (usage) between accounting lecturers and practicing chartered accountants. The study revealed that practicing chartered accountants are more ICT savvy than accounting lecturers. The policy implication is that lecturers who are supposed to bequeath ICT competencies on future accountants are deficient hence accounting graduates will face challenges bracing up to the technological advancements of the 21st century. The study recommends amongst others that regulatory authorities such as the National Universities Commission (NUC) and the National Board for Technical Education (NBTE) should make having an accounting laboratory and ICT compliant lecturers a precondition for accreditation.
| 2 |
Author(s):
Abdulhamid Ellawule.
Page No : 11-25
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The Conundrum and Legality of Stamp Duties Collection in Nigeria
Abstract
The dwindling oil revenue to Nigeria necessitated
the need to improve revenue generation. The Stamp Duties is seen
as “a new gold”, however, the crisis between the FIRS and
NIPOST might pose a threat. The study examined the provisions
of the Stamp Duties Act and some relevant laws to ascertain the
agency with the jurisdiction to collect and administer duties in
Nigeria. It was found that FIRS has the authority to manage and
administer duties and other taxes in Nigeria and not NIPOST. It
was recommended that tax laws should be harmonised and
postage stamps and stamp duties should be clearly defined to
avoid ambiguity
| 3 |
Author(s):
Giami Isaac Baribefe.
Page No : 26-54
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Environmental Cost Reporting and Performance of Nigerian Oil and Gas Downstream
Abstract
This research work examined the relationship between environmental cost reporting and performance of Nigerian oil and gas downstream companies quoted on the Nigerian stock exchange for the period 2011 to 2020. The study adopted historical data design and census sampling techniques was used in studying the entire population. Four hypotheses were tested using multiple regression analyses with the help of ordinary least square and the findings revealed that, amount spent on waste management /remediation has a negative and insignificant relationship with growth in sales volume as well as return on asset. Amount spent on compensation also has negative and insignificant relationship with both growth in sales volume and return on assets. It was however recommended that oil and Gas companies continue to manage their waste and include community development in their decision making in line with global best practices to keep them socially acceptable as these will ensure a symbiotic relationship among the various stakeholders.
| 4 |
Author(s):
Appah Ebimobowei (Ph.D, FCA), Onowu Joseph Uche.
Page No : 55-76
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Integrated Reporting Disclosures and Firm Value of Listed Insurance Companies in Nigeria
Abstract
This study empirically investigated integrated reporting and corporate financial performance of listed insurance companies in Nigeria for the period 2010 to 2019. The study employed ex post facto and correlational research design. The sample size of the study consisted of insurance firms listed on the Nigerian Stock Exchange. The data for the study was obtained from the published annual financial statements of the sampled insurance companies and descriptive statistics, diagnostic test, unit root test, was used for data analysis while multiple regression analysis for the test of hypotheses. The result from the regression analysis revealed that integrated reporting positively and significantly affects the corporate financial performance of listed insurance firms in Nigeria. Also the control variables of debt, liquidity, corporate size and risk suggested both negative and positive significant influence on corporate financial performance of listed insurance firms in Nigeria. The paper concluded that integrated reporting affects the corporate financial performance of listed insurance companies in Nigeria. Therefore, the paper recommends amongst others that the Financial Reporting Council of Nigeria (FRCN) should make the adoption of integrated reporting compulsory across companies listed on the Nigerian Stock Exchange in a bid to improve the relationship between integrated reporting and financial performance of firms.
| 5 |
Author(s):
Jessie I. Chukwunulu, Steve N.O. Ibenta.
Page No : 77-87
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Financial Innovation and Efficiency of Financial Intermediation in Nigeria
Abstract
This study investigated the effect of financial innovation on efficiency of financial intermediation of commercial banks in Nigerian between 2008 and 2018. The study used secondary data obtained from the Annual reports and Accounts of the Central Bank of Nigeria (CBN). The explanatory variables of the study are the product innovations in the banking sector namely: volume of automated teller machine transactions (ATM), volume of point-of-sale transactions (PoS), volume of Internet banking transactions (IBT) and volume of Mobile banking transactions (MBT). The dependent variable is the financial intermediation efficiency proxied by interest rate spread, which is measured by the difference between maximum lending rate and savings rate. A multiple regression model developed for the study was analysed with the help of Ordinary Least Square (OLS) regression technique. The result from the descriptive statistics indicated that financial intermediation in Nigeria is inefficient. The results showed that ATM, IBT and MBT have insignificant positive effects on financial intermediation while PoS has negative effects on financial intermediation efficiency. Further results indicated that the 57% change in financial intermediation efficiency explained by financial innovation is not statistically significant. The study therefore concluded that financial innovation in itself is not a determinant of the efficiency of the intermediation process in Nigeria. It is then recommended that the regulatory authority among others should make policies to increase the savings rate, so that the surplus unit will be encouraged to make their funds available to the banks for lending.
| 6 |
Author(s):
Andabai Priye Werigbelegha (Ph.D).
Page No : 88-93
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Theoretical Investigation for the Failure of Lehman Brothers and Merril Lynch: A Lesson for Banking Institutions in Nigeria
Abstract
The study theoretically examines the failure of Lehman Brothers and Merril Lynch as a lesson for the banking institutions in Nigeria. Hence, the instability experience in the Nigeria financial system in recent time; especially, banking sub-sector was as a result of institutional failure. Banking experts in Nigeria viewed that the failure of the two banks was an enough signal to the Nigerian banking industry. Hence, the study reveals that the two banks were absolutely limited to the size and age in determining their future instead of depending on the effectiveness and efficient management of risky assets. Hence, the conventional lending procedures are not instituted; rather than depending on subprime mortgage arrangement that has no collateral securities. The declining home prices has make refinancing more difficult as a result of inadequate innovations in securitization. The recommends that the regulatory authorities should not only relied on the conventional tools of bank supervision, but, they should employ more non-conventional methods of obtaining classified information. The financial institutions should train and retrain their employees to meet the current reality on ground. The conventional lending procedures should be instituted rather than depending on subprime mortgage management that did not have collateral securities. The Central Bank of Nigeria (CBN) should be proactive to ensure effective supervision and risk management principles.
| 7 |
Author(s):
Andabai Priye Werigbelegha (Ph.D).
Page No : 94-103
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Fiscal Policy and the Performance of Private Sector in Nigeria (1990-2019): A Vector Error Correction Investigation
Abstract
The study examines the relationship between fiscal policy and the performance of private sector in Nigeria; for the period 1990-2019. Secondary data are collected from Central Bank of Nigeria Statistical Bulletin, 2019. Four variables are employ for this study. These are Private Sector Output as proxy for performance of private sector economy and used as the dependent variable; whereas, the explanatory variables include Tax, Recurrent Expenditure and Capital Expenditure. Hypotheses are formulated and tested using time series econometric models. The result confirms that about 68% short-run adjustment speed from long-run disequilibrium. The study shows a significant relationship between capital expenditure and private sector output in Nigeria. Taxation has a significant relationship with private sector output in Nigeria. Recurrent expenditure has a significant relationship with private sector output in Nigeria. The coefficient of determination indicates that about 62% of the variations in economic growth can be explain by changes in fiscal policy variables in Nigeria. The study concludes that fiscal policy has a significant relationship with the growth and development of Nigerian economy. The study recommends that more resources should be relocated to productive sectors and increasing and sustaining a spending on the productive sectors of the economy. The study suggested that Nigerian government should put a stop to the incessant unproductive foreign borrowing, wasteful spending and uncontrolled money supply. The government should embark on specific policies aimed at achieving increased and sustainable growth and development in the economy.
