Browsing by Author "Ajayi, Micheal"
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Item CORPORATE GOVERNANCE AND PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA(Department of Marketing, Veritas University, Abuja, 2021) Kolawole, Kayode; Ajayi, Micheal; Busari, Romoke; Mustapha, AbdulkadriThe efforts in implementing sound corporate governance practices in banks across the world after the financial scandals in 2008 has been overwhelming. However, Nigerian banking institutions still suffers from massive financial misappropriation despite effort in entrenching sound corporate governance in the sector. Hence, this study investigated corporate governance and performance of Nigerian deposit money banks. This study employed both primary data and secondary data. The primary data was obtained through questionnaire administration while the secondary data were sourced from the financial reports of thirteen selected listed deposit money banks in Nigeria. The population of the study is all listed deposit money banks in Nigeria. However, one hundred and fifty (150) copies of questionnaire were administered to managers and staff of this selected Nigerian deposit money banks. Ordered logit and panel least square method of multiple regression analysis were used to achieve the objectives of the study. The findings of random effect model showed that board independence is a significant determinant of performance of deposit money banks in Nigeria with coefficient values of 2.891 at 5%. Thus, the study concludes that corporate governance impact significantly on performance of deposit money banks in Nigeria. The study recommends that regulators should ensure that board of directors are independent from shareholders’ control when making decisions on critical issues that affect the banks’ performance.Item Impact of Financial Inclusion on Economic Growth in Nigeria(Published by Department of Finance, University of Ilorin, 2019) Abdulmunin, Biliqees; Ajayi, Micheal; Kolawole, Kayode; Oyeleye, KafilatGlobally, the financial sector of any economy is reputed to be the engine of growth and a catalyst for sustainable transformation. However, a large number of Nigerian population lack access to formal financial services. Hence the study examined the effect of financial inclusion on economic growth in Nigeria. In line with this objective, the method of analysis used in the study was Autoregressive Distributed Lags (ARDL) models on the time series which covered from 2005 to 2018. The study revealed that there is an existence of a long-run relationship between financial inclusion and economic growth in Nigeria. The study concluded that financial inclusion is a relevant determinant of economic growth in Nigeria. The study, therefore, recommended the promotion of the use of services of Deposit Money Banks (DMBs), Microfinance Banks (MFBs), credit union and cooperative societies to promote the contribution of financial inclusion to economic growth in Nigeria.