Browsing by Author "Abdul-Hamid, Mohamad Ali"

Now showing 1 - 4 of 4
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    Corporate Governance Practices of Contributory Pension Scheme Operators in Nigeria
    (Universiti Putra Malaysia, 2019) Aliu, Olanrewaju Atanda; Alaudin, Ahmadasri; Abdul-Hamid, Mohamad Ali
    Unlike the previous defined benefit pension scheme in Nigeria, the current contributory pension scheme (CPS) is characterised by separation of ownership and management of pension fund. In view of agency problem this portends, the need to empirically examine corporate governance (CG) practices of operators is of importance for CPS survival. Thus, this study examines corporate governance practices of operators of CPS in management and custody of the CPS fund. Survey data from 212 managers and assistant managers of CPS operators were analysed using one-sample t-test and mixed ANOVA. The results showed significant practices of CG mechanisms in the form of board independence, director independence, board disclosure and audit committee effectiveness. Significant difference was found in practice of above CG mechanisms. However, there was no significant difference in GC practices among various types of CPS operators. Similarly, the interaction of CG mechanisms with CPS operator type was also found to be insignificant. Based on the results, good corporate governance practices in the management of CPS fund is evident. However, it is recommended that there is an urgent need to intensify regulatory role of the part of CPS regulator- National Pension Commission to ensure that operators are not lacking behind in practices of various mechanisms of CG.
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    EXPLORATION OF CORPORATE GOVERNANCE: EVIDENCE FROM THE NIGERIAN CONTRIBUTORY PENSION INDUSTRY
    (Department of Finance, University of Ilorin, 2022) Aliu, Olanrewaju Atanda; Abdul-Hamid, Mohamad Ali; Suleiman, Salami; Ahmed, Abukakar
    Despite the documented mixed impact of corporate governance on firms’ financial and non financial objectives, a considerable body of empirical findings, across sectors and countries, still indicate that corporate governance impacts the achievement of the firms’ objectives. Yet, there seems to be a limited insights about how corporate governance mechanisms facilitate the achievement of the firms’ objectives. Therefore, this study explores how corporate governance facilitate the achievement of the objectives of the contributory pension scheme in Nigeria. Nine in depth, one-on-one semi-structured interviews were conducted with managers and assistant managers of contributory pension scheme operators in Nigerian. From the thematic analysis of the interview transcripts, emergent themes revealed that corporate governance codes issued by the National Pension Commission have facilitated the achievement of the contributory pension scheme objectives by enforcing responsibility, protection of fund, competence, and due diligence among the contributory pension scheme operators. Thus, the study recommended that the National Pension Commission should constantly keep improving the corporate governance mechanisms of the Nigerian contributory pension industry to ensure the operators render proper stewardship on the pension funds in their care in the interest of various stakeholders.
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    A Proposed Framework of Corporate Governance and Investment Strategy Impacts on Occupational Pension Sustainability: the Moderating Effects of Risk Management
    (Penerbit Akademia Baru, University of Mara, Malaysia, 2018) Aliu, Olanrewaju Atanda; Alaudin, Ahmadasri; Abdul-Hamid, Mohamad Ali
    Recently, sustainability has emerged among major concerns in a broad range of fields. Comparatively, little research attention has been paid to sustainability of occupation pension (OP) scheme despite its significance on public finance. The widespread nature of pension reforms triggered by occupational pension crisis has led to privatization of management of pension funds among approaches of reforms. Grounded in institutional and agency theories, this paper proposes a theoretical framework of the influences of corporate governance and investment strategies on the sustainability of OP and the moderating role of risk management. The framework focuses on the Nigerian contributory pension scheme (CPS) which came into effect in 2004. Review of extant literature indicates that with good corporate governance and optimal investment strategies, the sustainability of Nigerian CPS would be enhanced. Furthermore, the moderating effects of risk management were established based on evidences from literature. The review has significant implication on the management of CPS not only in terms of the stewardship roles entrusted with privately firms (pension operators) managing the CPS fund, but also for the employees and other stakeholders to reap the benefits of well-regulated CPS.
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    RISK MANAGEMENT AND PENSION FUND RETURNS: DOES PENSION FUND ADMINISTRATOR OWNWERSHIP TYPE MATTER?
    (Department of Finance, University of Ilorin, 2022) Aliu, 0. A.; Abdul-Hamid, Mohamad Ali; Salam, Mudathir Olanrewaju; Haliru, Adeshola Nurudeen
    Pension fund returns form an integral component of defined contribution pension plan benefits. However, low and volatile real return profiles of pension funds have been sources of growing concern due to failure to generate generate adequate returns. This study examined risk management impact on pension fund returns as perceived by pension fund administrators of the Nigerian contributory pension scheme. The study further assessed the interaction effect of PFAs type (open and closed) on the risk management impact on pension fund returns. Data was collected through the administration of survey questionnaires on 197 managers and assistant managers of all the 24 pension fund admistrators. Based on the analyses of survey responses from the survey of managers and assistant-managers of PFAs, results from Ordinary Least Square (OLS) regression and Hayes Macro show a positive and significant impact of risk management on the pension funds returns of contributory pension scheme in Nigeria. The results further confirm a significant interaction effect of PFAs types on the impact with closed PFA reporting a stronger relationship between risk management and pension funds returns of contributory pension scheme in Nigeria. The study recomemended that open PFAs intensified their risk management practices in the interest of the employees whom they manage their pension assets