Browsing by Author "Abdulmumin, Biliqees Ayoola"
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Item Abolition of Universal Banking Model in Nigeria:A policy Somersault?(Faculty of Management Sciences,University of Ilorin,Ilorin., 2016-06) Jimoh, Abdulrazaq Taiye; Sanni, Ibrahim; Ibrahim, Wasiu Oluwatoyin; Abdulmumin, Biliqees AyoolaThe Central bank of Nigeria (CBN) abolished universal banking model in Nigeria in 2010 barely ten years of its introduction.This abolition generated a lot of debates as some economists argued that the gains of past reforms,especially adoption of the banking model,had not been fully realised and, therefore,tagged its reversal a "policy reversal".Therefore, this study assessed empirically the performance of Deposit Money Banks in Nigeria before and after the abolition of universal banking system.Specifically,the study was carried out to examine the profitability and market performance of deposit Money Banks in Nigeria before and after the abolition of the model.Data were collected from annual reports of the selected banks listed on the Nigerian Stock Exchange(NSE) and the data were analysed using both descriptive and inferential statistics.One-way ANOVA was used to test the stated hypotheses.Results of the analysis indicate that abolition of universal banking does not have significant effect on ROA,ROE,and EPS of Deposit Money Banks in Nigeria.The study concludes that in terms of banks profitability, reversal of universal banking model might actually be a policy somersault.It is , however, recommended that further studies be conducted on costs of universal banking and how the abolition affects such costs as conflicts of interest and risk exposure.This is because the findings of this study may not be generalised on all areas of universal banking model.Item Abolition of universal banking model in Nigeria; A policy somersault?(Faculty of Management Sciences, University of Ilorin, 2016) Jimoh, Abdulrasaq Taiye; Sanni, Ibrahim; Ibrahim, Wasiu Oluwatoyin; Abdulmumin, Biliqees AyoolaThe Central Bank of Nigeria (CBN) abolished universal banking model in Nigeria in 2010 barely ten years of its introduction. This abolition generated a lot of debated as some economists argued that the gains of past reforms, especially adoption of the banking model, had not been fully realised and, therefore, tagged its reversal a " policy somersault". Therefore, this study assessed empirically the performance of Deposit Money Banks in Nigeria before and after the abolition of the model. Data were collected from annual reports of the selected banks listed on the Nigerian Stock Exchange (NSE) and the data were analysed using both descriptive and inferential statistics. One-way ANOVA was used to test the stated hypotheses. Results of the analysis indicate that abolition of universal banking does not have significant effect on ROA, ROE and EPS of Deposit Money Banks in Nigeria. The study concludes that in terms of banks profitability, reversal of universal banking model might actually be policy somersault. It is, however, recommended that further studies be conducted on costs of universal banking and how the abolition affects such cost as conflicts of interest and risk exposure. This is because the findings of this study may not be generalised on all areas of universal banking model.Item Abolition of universal banking model in Nigeria; A policy somersault?(Faculty of Management Sciences, University of Ilorin, 2016) Jimoh, Abdulrasaq Taiye; Sanni, Ibrahim; Ibrahim, Wasiu Oluwatoyin; Abdulmumin, Biliqees AyoolaThe Central Bank of Nigeria (CBN) abolished universal banking model in Nigeria in 2010 barely ten years of its introduction. This abolition generated a lot of debated as some economists argued that the gains of past reforms, especially adoption of the banking model, had not been fully realised and, therefore, tagged its reversal a "policy somersault". Therefore, this study assessed empirically the performance of Deposit Money Banks in Nigeria before and after the abolition of the model. Data were collected from annual reports of the selected banks listed on the Nigerian Stock Exchange (NSE) and the data were analysed using both descriptive and inferential statistics. One-way ANOVA was used to test the stated hypotheses. Results of the analysis indicate that abolition of universal banking does not have significant effect on ROA, ROE and EPS of Deposit Money Banks in Nigeria. The study concludes that in terms of banks profitability, reversal of universal banking model might actually be policy somersault. It is, however, recommended that further studies be conducted on costs of universal banking and how the abolition affects such cost as conflicts of interest and risk exposure. This is because the findings of this study may not be generalised on all areas of universal banking model.Item A comparative study of financial inclusion indicators in selected African countries(Department of Accounting, Faculty of Management Sciences, University of Ilorin, Ilorin, Nigeria., 2017) Abdulmumin, Biliqees Ayoola; Etudaiye-Muthar, Oyebola Fatima; Jimoh, Taiye Abdulrasaq; Abogun, SegunFinancial inclusion is regarded as a tool for poverty reduction and economic growth. To this end, African countries are working towards the dividends of financial inclusion. This is evidenced by different policies introduced to foster financial inclusion and the resultant increase in the financial inclusion indicators. In spite of the improvement in the indicators, the extent of financial inclusion is still low compared to other developing regions such as Asia. The study examines financial inclusion indicators in five African countries using descriptive statistics and further compare the level of improvement in each of the countries. The comparison revealed that South Africa recorded more growth in it' financial inclusion indicators compared to other countries in the study. Overall, the study concludes that the level of financial inclusion has improved in the region. The study, therefore, recommends that more efforts be put on policies that enhance the growth of financial inclusion indicators in Africa and the introduction of new policies that will strengthen the weak areas.Item Effect of monetary policy instruments on the performance of Nigeria's financial market(Department of Finance, Faculty of Management Sciences, University of Ilorin, Ilorin, Nigeria., 2017) Sakariyahu, Ola Ridwan; Ibrahim, Wasiu Oluwatoyin; Abdulmumin, Biliqees AyoolaA significant tool for economic management is the monetary policy. The monetary policy of any nation is a combination of packages channeled towards achieving certain macroeconomic objectives. These objectives include economic growth, full employment, price stability and favourable balance of payment. This achievement of these objectives however depends on the strength and depth nation's financial market. This study examines the effect of monetary policy of the Nigerian government on the financial market. Secondary data between 1981 and 2016 were used and the dependent variables adopted are all share index and credit to private sector (CPS), both standing as a proxy for money and capital markets respectively while the independent variables used are monetary policy rate, broad money supply(M2) and liquidity rate; the trio representing monetary policy instruments. The findings of the study show that monetary policy instrument of the Nigerian government have varying degree of impact on the performance of both the money and the capital markets. Based on the findings, the study recommends that through the regulatory authorities should cautiously avoid discretionary policies that might affect lending rate; otherwise investors' apathy would mar the development strides already witness within the market.Item Effect of Monetary Policy Instruments on the Performance of Nigeria's Financial Market(Department of Finance,University of Ilorin,Ilorin., 2017-12) Sakariyahu, Ola Rilwan; Ibrahim, Wasiu Oluwatoyin; Abdulmumin, Biliqees AyoolaA significant tool for economic management is the monetary policy. The monetary policy of any nation is a combination of packages channeled towards achieving certain macroeconomic objectives.These objectives include economic growth,full employment,price stability and favourable balance of payment.The achievement of these objectives however depends on the strength and depth of the nation's financial market.This study examines the effect of monetary policy of the Nigerian government on its financial market.Secondary data between 1981 and 2016 were used and the dependent variables adopted are all share index(ASI) and credit to private sector(CPS),both standing as a proxy for money and capital markets respectively while the independent variables used are monetary policy rate(MPR),broad money supply(M2) and liquidity rate;the trio representing monetary policy instruments.The findings of the study show that monetary policy instruments of the Nigerian government have varying degrees of impact on the performances of both the money and capital markets.Based on the the findings,the study recommends that government through the regulatory authorities should cautiously avoid discretionary policies that might affect lending rate;otherwise investors' apathy would mar the developmental strides already witnessed within the market.Item Impact of Capital Structure on Performance of Deposit Money Banks in Nigeria(Center of Social and Economic Research, Federal University Dutse, Nigeria, 2021-12-05) Kolawole, Kayode David; Ibrahim, Rahji Ohize; Abdulmumin, Biliqees Ayoola; Ibrahim, Wasiu OluwatoyinThe appropriate financing mix is an important decision that influences the survival of any financial institution. Hence, the need to examine the capital structure and performance of Nigerian banks. Secondary data was sourced from annual reports of thirteen banks in Nigeria covering 2011 to 2020. Panel least square analysis was used to analyze the data obtained for the study. The findings showed that debt is a significant determinant of performance with coefficient values of 6.102075 at 5% significance level. The study further revealed that equity has a positive relationship with the performance of Nigerian deposit money banks with coefficient values of 2.097716 at a 1% significant level. Thus, the study concludes that capital structure has a significant impact on the performance of deposit money banks in Nigeria. Deposit money banks in Nigeria should try to finance from retained earnings and other forms of equity financing rather than relying on debt capital as debt has a negative impact on stakeholders' wealth maximization.Item Impact of financial intermediation on economic growth in Nigeria(The Department of Business Administration, University of Ilorin, Ilorin, Nigeria, 2017) Jimoh, Abdulrasaq Taiye; Abdulmumin, Biliqees Ayoola; Sanni, IbrahimFinancial intermediation underscores the catalytic role of banks in economic growth and development of any nation. This is because financial intermediaries such as banks arise to alleviate market frictions like transaction costs, uncertainty about project outcomes and information asymmetries in their effort to mobilize funds and channel same to the most productive unit of the economy. However, the question of whether it is the size/volume or efficiency of financial intermediation that matters for the growth of developing economies like Nigeria. Data were obtained from CBN statistical bulletin and analyzed using Ordinary Least Square (OLS) regression technique. The study found that all the intermediation variables expect credit to private sector and reserve money positively and significantly related to GDP at 5% level of significance. It was concluded that both the size and efficiency of financial intermediation are necessary for the growth of Nigerian economy. The study recommends that deposit money banks should improve their monitoring of private sector credit for effective utilization; and that CBN should pursue monetary policy measures that will further the depth of the banking sector so as to allow more financial inclusion, foster healthy competition within the industry and ensure efficient intermediation.Item Microcredit Scheme and Millennium Development Target of Poverty Eradication in Nigeria: A case of Ilorin Metropolis(Department of Economics and Development Studies, Federal University,Otuoke,Bayelsa State, 2016-06) Sakariyahu, Ola Rilwan; Ibrahim, Wasiu Oluwatoyin; Abdulmumin, Biliqees AyoolaThis study examines the role of microfinance banks in the attainment of the Millennium Development Goal target of poverty eradication in Nigeria.Other specific objectives of the study include assessment of the impact of microfinance banks in the mobilization and disbursement of funds among the poor;examining the role of microfinance banks in improving the standard of living of the poor and an assessment of the roles of microfinance banks in promoting the financial success of their customers.The study purposely sampled three microfinance banks in Ilorin metropolis,Kwara State.A total of ninety copies of questionnaires were administered on both staff and customers of the three sampled microfinance banks and upon completion,only sixty were found to be worthy of use.The inferential statistics used for the data analysis was the Kruskal-Wallis test.From the hypotheses tested, it was revealed that microfinance banks have been instruments for mobilization and disbursement of funds among the poor.However, MFBs have not improved the standard of living of their customers and they have not contributed to the financial success of their customers.Based on the results of this research work,it was concluded that MFBs have not significantly contributed to the attainment of the MDG target of poverty reduction in Ilorin metropolis.The study therefore recommends that the Central Bank of Nigeria strictly monitor the disbursement of funds by the MFBs to ensure they are granted to deserving low income earners and the rural poor.Also, the CBN must consider fixing low Monetary Policy Rate for the MFBs separate from the conventional commercial banks.This will allow MFBs grant credit to their customers at a very low interest rate.