This study examined the effect of digital payment systems on the growth of the aviation sector in Nigeria using quarterly data spanning from 2010Q1 to 2024Q3. Specifically, the study assessed the effects of Point of Sale (POS) transaction values, Mobile Banking (MB) transaction values, Web-based Internet (WBI) transaction values, and Automated Teller Machine (ATM) transaction values on aviation sector output. Aviation sector output served as the dependent variable, while the selected digital payment indicators constituted the explanatory variables. The study adopted an ex post facto research design and a quantitative time-series econometric methodology, utilizing fifty-nine quarterly observations obtained from the Central Bank of Nigeria (CBN) and the Federal Airports Authority of Nigeria (FAAN). Data were analysed using descriptive statistics, correlation analysis, the Augmented Dickey–Fuller (ADF) unit root test, Johansen cointegration test, and Error Correction Model (ECM) estimation with EViews 10. EViews 10 was adopted because it provides robust and reliable procedures for time-series econometric analysis, including unit root, cointegration, and error correction estimation. The unit root results revealed that all variables were integrated of order one, I(1), while the Johansen cointegration test confirmed the existence of a stable long-run relationship among the variables. The empirical findings indicated that POS transaction values exerted a positive and statistically significant effect on aviation sector output; MB transaction values had a negative and statistically significant effect; WBI transaction values had a negative but statistically insignificant effect; and ATM transaction values had a positive and statistically significant effect on aviation sector output. The study concluded that digital payment systems significantly influence aviation sector growth, although the magnitude and direction of the effects vary across payment channels. Consequently, the study recommended expanding POS infrastructure, improving the reliability and security of mobile banking services, strengthening web-based payment platforms, and sustaining the deployment of Automated Teller Machines at airports to enhance the growth of Nigeria's aviation sector. Read more

This study examined the impact of financial inclusion technologies on poverty reduction in Nigeria covering the period 2013Q1 to 2024Q4. Data for the study were extracted from the Central Bank of Nigeria (CBN) Statistical Bulletin, 2024. The expo-facto research design was adopted in the study. The multiple linear regression with the application of Ordinary Least Squares (OLS) technique was adopted as the method of data analysis. The major findings of the study reveal that Point on Sales (POS) contributes positively and significantly to poverty reduction in Nigeria, Automated Teller Machines (ATM) contributes positively and significantly to poverty reduction in Nigeria, Web Pay (WP) contributes negatively and significantly to poverty reduction in Nigeria and Mobile Pay (MP) contributes negatively and significantly to poverty reduction in Nigeria. The study therefore recommends that there should a simplification of the user interface and payment processes to accommodate individuals with limited technical knowledge and the monetary authorities should launch nationwide financial and digital literacy programs to educate users on how to safely and effectively use Mobile Pay systems for transactions and savings. Read more

This study investigates the effect of Key Audit Matters (KAMs) disclosure on the trading volume of listed Deposit Money Banks (DMBs) in Nigeria. Adopting an ex-post facto research design, panel data were collected from 12 DMBs over a 16-year period (2009–2024), covering both pre-KAM (2009–2016) and post-KAM (2017–2024) regimes. KAM disclosures were extracted from audited financial statements using a standardized checklist across three dimensions: Related-Party Transactions Disclosure (RPTD), Liquidity Risk Management Disclosure (LQRD), and Capital Adequacy Disclosure (CAPD). A mixed-effects regression model with Restricted Maximum Likelihood (REML) estimation was employed to assess the effect of these disclosures on trading volume. The results reveal that LQRD had a significant positive effect on trading activity, suggesting investor responsiveness to liquidity transparency. CAPD had a significant negative effect, indicating cautious market reactions to solvency disclosures. RPTD was statistically insignificant, reflecting weak short-term investor response. These findings indicate that the impact of KAMs on market activity is contingent on the nature and perceived relevance of the disclosure. The study recommends that regulators enforce clarity and materiality in KAM reporting to enhance market engagement. It contributes to audit transparency literature and informs capital market policy reforms in emerging economies. Read more

This study examined the analysis of capital market development and economic growth in Nigeria between 1986 and 2022. As a result, real gross domestic product was used as the dependent variables while independent variables in the study included market capitalization, all share index, value of transactions, total number of new issues and exchange rate. The Auto-Regressive Distributed Lag Modelling (ARDL) technique as well as the Engle Granger causality test were used to analyse the data obtained from the CBN statistical bulletin. The results emanating from the analysis reported that total number of new issues had a positive impact on the economic growth while other variables had insignificant effect on economic growth. Furthermore, the causality results revealed that all the stock market variables had a uni-directional causality running from each of them to economic growth. Therefore, it is recommended that new issues in the capital market should be seriously regulated as it can affect the economic growth in a significant manner. Read more

E-commerce has continued to evolve since its introduction. E-commerce operates through various platforms and its impact cuts across every aspect of business operations. Business owners/managers seeking to adopt e-commerce platforms for their business transactions need to be abreast of appropriate e-commerce business models that fit into their business operations. The applicability of e-commerce business models was reviewed. The study highlighted the e-commerce business models that exist and the transaction flow within each business model. E-commerce transactions and their applicability to business, customers and society were reviewed. The review revealed that e-commerce has changed the way of delivering products as consumers can transact 24 hours a day, from almost any location. It was concluded that the prospect of e-commerce is very high in emerging economies like Nigeria although its adoption is still at the basic stage. It is recommended that business owners/managers should procure quality devices and gadgets that will enhance efficiency in e-commerce transactions while users of e-commerce platforms are to take necessary precautions when using the platforms. Read more