Browsing by Author "ABDULMUMIN, Biliqees Ayoola"
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Item BANKING SECTOR DEVELOPMENT AND ECONOMIC GROWTH: EVIDENCE FROM NIGERIA(Department of Finance, Faculty of Management Sciences , University of Ilorin, Ilorin. Nigeria., 2017) JIMOH, Abdulrasaq Taiye; ATTAH, John Adeyi; ABDULMUMIN, Biliqees Ayoola; WAHEED, Kayode IsmailEconomic growth of a country whose financial sector is bank-based like Nigeria revolves round the development of banking sector. Studies have however claimed that Nigeria banking sector is still underdeveloped and the sector has performed below expectations in its role of promoting economic growth of the country. This study therefore assessed the effect of banking sector development on the Nigeria's economic growth. Annual time series data from 1981 to 2015 were collected from Central Bank of Nigeria (CBN) statistical bulletin and World Bank website. Augmented Dickey Fuller (ADF) test was conducted to ascertain the order of integration of the series. Johansen co-integration test was performed which confirmed the existence of long run relationship between variables. Error Correction Model (ERM) approach was finally used to estimate the speed of adjustment from the short-run disequilibrium. The result of ECM shows that all the variables except private credit and bank deposits have positive and significant effect on growth rate of GDP at 0.05 level of significance. The Error Correction Term (ERT) indicates that the disequilibrium in previous period was corrected at the rate of 40%. The study concludes that banking sector development have both long run and short run effect on the Nigerian economic growth. It is therefore recommended that banks in Nigeria should improve their administration of credit to private sector to ensure that the funds are properly channeled to productive ventures. CBN should tailor its monetary policies towards improving the level of financial deepening, controlling inflation and enhancing the deposit base of banks; as all these will promote economic growth via the banking sector.Item DETERMINATS OF EXCHANGE RATE VOLATILITY AND ECONOMIC GROWTH IN NIGERIA(Department of Business Administration, University of Ilorin, Ilorin. Nigeria., 2018) ADEYEMI, Kenneth Sola; ABDULMUMIN, Biliqees AyoolaAn economic recession occurs when the Gross Domestic Product (GDP) of an economy drops for two consecutive quarters. Despite the plausible effect of economic recession on the economy, the determinants of exchange rate volatility and economic growth taking cognizance of the period of recession remain an open question. Against this background, this study examines the determinants of exchange rate volatility and economic growth in Nigeria from 1984 to 2016. This study further investigates the trend of GDP and exchange rate volatility. This study employs secondary data from Central Bank Statistical Bulletin and World Bank Development Indicators. Data obtained were analyzed using Error Correction Mechanism (ECM). The findings show that money supply, trade openness, total government expenditure and effect of the recession (dummy) have significant effect on exchange rate volatility and GDP in Nigeria. This study concludes that there is high propensity to achieve a better level of economic development if the economy is prevented from going into recession. This study recommends that the economy should be well diversified in order to increase GDP to prevent the economic recession.Item EFFET OF MACROECONOMIC INDICATORS ON STOCK MARKET RETURNS IN NIGERIA(Department of Finance, Faculty of Management Sciences , University of Ilorin, Ilorin. Nigeria., 2018) SALMAN, Ramat Titilayo; OYESIJI, Yinusa Kolawole; ABDULMUMIN, Biliqees AyoolaStock market plays a vital role in economic prosperity by fostering capital formation and sustaining economic growth in most economies across the world. In order to develop the market, regulatory reforms aimed at opening up the market for globalization were introduced. These reforms includes indigenization policy of 1977, Structural Adjustment Programme regime of 1986, Financial liberalization of 1995, the deregulation and post-deregulation eras, to mention but a few (NSE,2016); the expectation is that these reforms (which include some of the variables) will enhance the efficiency of the market. The study examined the effects of macroeconomics indicators on stock market performance in Nigeria. Monthly time series that were sourced from the Central Bank of Nigeria (CBN), National Bureau of Statistics (NBS) and Nigeria Stock Exchange (NSE) from 2006 to 2016 for this study. The following tests were conducted: unit root, two-step co- integration tests, Autoregressive Conditional Heteroskedasticity (ARCH) test and the first differential test. Autoregressive Distributed Lag (ARDL) was used in estimating the parameters of the model. The result revealed that broad money supply, Consumer Price Index (CPI), exchange rate, and a month lag of prime lending rate have significant effect on stock market performance. The study concluded that macroeconomics indicators affect stock market performance in Nigeria. It was, therefore, recommended that monetary authority should effectively monitor the selected macroeconomics indicators in order to improve stock market returns in Nigeria.Item FINANCIAL INCLUSION IN AFRICA: DO CREDITORS' RIGHT PROTECTION AND INFORMATION SHARING MATTER?(Department of Accounting, Nigeria Police Academy, Wudil, Kano State, 2018) ABDULMUMIN, Biliqees Ayoola; ALUKO, Olufemi Adewale; SAKARIYAHU, Ola Ridwan; JIMOH, Abdulrasaq TaiyeUsing the Global index database, we examine whether creditors’ rights protection and information sharing matter for financial inclusion in a sample of 36 countries in Africa. Our findings show that only information sharing is important for financial inclusion, particularly when country-level characteristics such as legal origin, income, population density, political stability, and bank competition are not controlled for. We suggest that better information sharing may lead to greater financial inclusion in African countries.Item FINANCIAL INCLUSION IN NIGERIA: ARE WOMEN DISADVANTAGED?(Department of Accounting & Finance and Business Administration, Fountain University. Osogbo, 2019) ADEYEMI, Kenneth Sola; ABDULMUMIN, Biliqees AyoolaFinancial inclusion is important for redistribution of economic resources. Despite the plausible effect of financial inclusion on the economy, financial institutions have failed to provide financial services to a certain group of people who are mostly women. Against this background, the study investigates whether there exist financial inclusion gap between male and female in Nigeria. This study uses secondary data from World Bank Global Financial Inclusion database. Data obtained were analyzed using Principal Component Analysis (PCA). The findings show that makes are more financially included in the first two periods but the situation changed in the final period with females being more financially included than their male counterpart. This study concludes that different financial inclusion policies focused on women have resulted in the increase in their level of financial inclusion in recent time. Therefore, it is recommended that gender- focused policies should be concentrated in order to continuously bridge the gender gap.Item IMPACT OF INSTITUTIONAL FACTORS ON FINANCIAL INCLUSION IN THE AFRICAN REGION(Department of Accounting & Finance and Business Administration, Fountain University. Osogbo, 2018) ABDULMUMIN, Biliqees Ayoola; ADEYEMI, Kenneth SThe study attempts to measure the extent of financial inclusion in the African region using the principal component analysis. This paper further identifies the underlying institutional factors that determine financial inclusion in the region using system General Method of Moment (GMM) estimator. The study revealed the extent of financial inclusion in Africa and identified legal rights and financial freedom as the institutional factors that affect the level of financial inclusion in Africa. It is also noteworthy lo state that GDP per capita is an important determinant of financial inclusion in the region. The study concludes that financial inclusion in Africa is influenced by institutional factors. Consequently, the study recommends that in other to achieve improvement in financial inclusion in the region, attention should also be paid to the institutional factors rather than focusing wholly on socio-economic factors.Item IMPACT OF MICROFINANCE BANKS' CREDIT FACILITIES ON AGRICULTURAL PRODUCTION IMPROVEMENT AMONG SMALL-SCALE FARMERS IN KWARA STATE(Management and social sciences, Fountain University, Osogbo, Nigeria., 2016) SAKARIYAHU, Ola Rilwan; IBRAHIM, Hussain Kobe; ABDULMUMIN, Biliqees AyoolaSustainable agricultural output is a major concern for government at all levels due to the tremendous benefits it creates for both individuals and the economy at large. In a bid to develop the agricultural sector, particularly within the rural space, several programme had been initiated by past governments, notable among is the microfinance banks (MFBs). This study examined the impact of loans and advances granted by microfinance banks on agricultural production improvement. Three-stage sampling technique was used to select 240 small-scale farmers that were administered with questionnaire for the purpose of having a cross-sectional outlook. The data was analyzed by descriptive and logistic regression model. The regression result reveals that loan from MFBs and farming experience were positively significant at p<0.01 and P<0.1 respectively. Only repayment period and interest interest rate were negatively significant at p<0.01 and p<0.05. The study concluded that MFBs' loans and advances, farming experience, repayment period and interest rate have significant impact on the likelihood of agricultural output improvement. The study recommended that monetary authorities should implement policies that would encourage MFBs to increase the proportion of loan allocated to the agricultural sector with single digit interest rate repayment. This would specifically help to increase output and thus, generally contribute to the living standard of small-scale farmers.