Browsing by Author "Bamigbade, Dayo"

Now showing 1 - 16 of 16
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    Assessment of personal income tax knowledge among the University of Ilorin Staff
    (Department of Accounting & Finance and Business Administration, Fountain University, Osogbo, 2018) Salam, Mudathir Olanrewaju; Kasum, Abubakar Sadiq; Bamigbade, Dayo; Abogun, Segun
    Taxpayers’ knowledge of what constitutes taxable income, claimable tax reliefs and allowance and applicable tax rates reduces uncertainty within the tax system. Inadequate knowledge of the tax system may affect tax compliance adversely. This study assesses personal income tax knowledge among the University of Ilorin Staff. Using proportional stratified random sampling technique, sample size of three hundred and sixty five (365) staff was chosen from both academic and nonacademic staff. Data was collected through the use of a structured questionnaire; the study applies both descriptive and inferential statistics. The Mann-Whitney U and Kruskal-Wallis tests were used in testing the hypotheses of the study. Results indicate that staff of the University of Ilorin have relatively low knowledge of personal income tax. However, the personal income tax knowledge of the nonacademic staff is higher than academic staff. The personal income tax knowledge of males and female staff are the same and also, there is significant difference in personal income tax knowledge levels across four different educational qualifications of the staff.
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    An Assessment of the Post Consolidation Performance of the Nigerian Banking Sector
    (Ilorin Journal of Business and Social Sciences, 2014-10) Sakariyahu, Ola Rilwan; Jimoh, Abdulrazaq Taiye; Bamigbade, Dayo
    In 2005, the Central Bank of Nigeria (CBN) raised the minimum capital requirement of commercial banks in Nigeria to N25 billion in the bid to strengthen the country's financial system and insulate licensed banks from financial distress, amongst several potential benefits. This study examined how the post consolidation banks have reacted to the 2005 exercise. It specifically assessed whether there is significant difference in how the Return on Assets (ROA) and Return on Equity (ROE) of the post consolidation banks have reacted to the exercise. Secondary data was collected form published annual reports and accounts of five (5) first-tier banks from 2006-2013 (post consolidation period). Descriptive statistics and one-way Analysis of Variance (ANOVA) were employed for data analysis using the Statistical Package for Social Sciences (SPSS) Version 21.0. It was found that there is no statistically significant difference in how the ROA of the post consolidation banks have reacted to the exercise. However, a statistical significant difference exists in the ROE. To this end, it is concluded that not only is the stability of the banking sector of the economy guaranteed through the recapitalization exercise, the post consolidation banks have benefited from the exercise is similar fashion.
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    Corporate Governance and Financial Performance of Listed Manufacturing Firms in Nigeria
    (Advances in Management, 2017) Oyedokun, Godwin Emmanuel; Sanyaolu, Wasiu Abiodun; Bamigbade, Dayo
    Corporate governance mechanisms play an important role in ensuring corporate performance and wealth maximization of shareholders. Many companies have failed in the past because of inefficient corporate governance mechanisms within the organization which has led to loss of millions in terms of earnings by shareholders and other concerned stakeholders. It is with this that this study investigated the effect of corporate governance mechanism on firms' performance from the perspective of shareholders wealth maximization in Nigeria. This study adopted ex-post facto research design to analyze the annual pooled data from 10 years (2007 - 2016) which were obtained from the annual reports and accounts of the selected companies employing multiple regression technique. The study found that P = (.00; .00; .00) at 5% level of significant for EPS, DPS and MPS respectively, R2 = .720; .819; .731 for EPS, DPS and MPS respectively. Adj R2 = .681; .794; .693 for EPS, DPS and MPS respectively. The study therefore, established that corporate governance variables of interest have significant effect on performance of listed firms in Nigeria. This study recommended that companies should ensure effective and efficient corporate governance mechanisms and most importantly, link directors' financial remuneration to the efficiency of the directors in improving profitability and thereby creating value for shareholders.
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    Corporate Social Responsibility by Public Sector Entities in Nigeria
    (Amity Business Journal, 2017-01) Kasum, Abubakar Sadiq; Bamigbade, Dayo; Abu-Kasum, Hamidat Adebisi
    Corporate Social Responsibilities (CSR) of private entities are being addressed continuously by academics and professionals based on various theoretical standpoints. It is significant, however, to note that consideration is not given to CSR activities by Public Sector Entities (PSEs). Public Sector Entities are established through enacted laws in a particular jurisdiction, to perform specified functions of the state. they are not for profit making, therefore, they are part of government means of delivering social goods. It is observed the PSEs engage in CSR activities in Nigeria. This study assesses the rational for CSR activities by these entities based on the various theoretical points of view, the laws establishing the entities and stakeholders opinion. The study reviewed the general Law relevant to Nigerian public sector entities in this regard. The study also collected data through administration of questionnaires, on a Likert Scale of 1 - 5, which was analyzed using Wilcoson sign rank test of difference between rank of population mean and sample mean. The study found out that activities of PSEs are as prescribed by their establishing Law/regulations therefore CSRs may not be possible if not provided for in the Laws. The study however found out that PSEs do embark on CSR activities. It was also found that some PSE laws gave allowance for such and it is supported by stakeholders. Based on the findings, the study recommends that relevant CSR activities should be encouraged for public sector entities and that CSR provision should be included within the laws of relevant entities to among other things regulate the deployment of the activities and to prevent abuse.
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    Corporate social responsibility of public sector entities in Nigeria.
    (Amity Business School, Amity University, Lucknow, India, 2017) Kasum, Abubakar Sadiq; Bamigbade, Dayo; Abu-Kasum, Hamidat Adebisi
    The study assesses the rationale for CSR by public sectors entities based on various theoretical view piont, establishing Laws and stakeholders' opinions.
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    Effect of Corporate Governance on the Performance of Oil and Gas Firms in Nigeria
    (Ilorin Journal of Administration and Development, 2018-06) Yahaya, Khadijat Adenola; Bukoye, Josephine Tolulope; Bamigbade, Dayo
    Inadequate financial disclosures by firms make it difficult for interested stakeholder(s) to monitor the performance of the firms. Corporate governance provides a mechanism for ensuring optimal financial information disclosure by firms. Consequently, this paper evaluates the effect of corporate governance on the performance of oil and gas firms in Nigeria. The study used a sample of six (6) oil and gas firms quoted on the Nigerian Stock Exchange (NSE) for a period of nine (9) years spanning from 2005 to 2013 using random sampling method. Panel regression technique was adopted in analyzing data collected. It was found that board size has positive effect on Profit After Tax (PAT), but negative effect on Return on Equity (ROE) and Return on Asset (ROA), firm size has positive effect on ROE, ROA and PAT, Audit committee (AUDCOM) has positive effect on ROE and ROA, but a negative effect on PAT. Ownership concentration has no significant effect on performance. It is concluded that corporate governance has significant effect on the performance of oil and gas firms in Nigeria. Thus, it is recommended that moderate board composition should be maintained, Audit committee chairman should be non-executive member, and ownership should not be concentrated in the hands of directors.
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    Effect of taxpayers’ identification number on revenue generation in Lagos state, Nigeria
    (Faculty of Economics and Business Administration, University of Iasi, Romania., 2019) Salman, Ramat Titilayo; Akintayo, Segun; Kasum, Abubakar Sodiq; Bamigbade, Dayo
    The introduction of the Taxpayers’ Identification Number (TIN) reform in Nigeria was geared towards enhancing tax administration and revenue generation. Therefore, this study examines the effect of taxpayers’ identification number on revenue generation in Lagos state – the commercial nerve centre of Nigeria. Specifically, it investigates the contribution of TIN on internally generated revenue and the influence of TIN on tax compliance in Lagos state. The period under review spans from December 2010 to September 2015, which is divided into the pre-TIN period (December 2010-April 2013) and the post-TIN period (May 2013-September 2015). 300 questionnaires were distributed to randomly selected staffs of the Lagos Inland Revenue Service (LIRS), out of which 221 were properly filled and returned. Regression technique was used to analyse the data sourced through questionnaire. This study finds that TIN has a significant positive relationship with internally generated revenue and it has significantly contributed to tax compliance in Lagos State. The study thus concludes that TIN positively affected internally generated revenue in Lagos state for the period covered by the study. It recommends that government should improve tax extension and education services to make more people, especially at the grassroots level aware of how to pay tax, benefits of paying tax and the need to have a taxpayers’ identification number among others as well as establish forensic tax investigation unit that would curb the excesses of leakages, corruption in tax system and tax defaulters.
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    Impact of Audit Quality on Analysts' Earnings Forecast in Nigeria
    (Department of Accounting, Banking & Finance, Faculty of Management Sciences, Osun State University, Okuku, 2019) Bamigbade, Dayo
    Audit lends credibility to the information contained in financial statement. Consequently, higher degrees of reliability are expected on the accounting numbers and disclosures contained in the audited financial statements. This study specifically investigated the effect of audit quality on analysts' earnings forecast accuracy of non-financial listed firms on the Nigeria Stock Exchange (NSE). The sample comprised 31firms for which data was accessible on the financial times database out of the 118 listed non-financial firms on the Nigerian Stock Exchange. The Ordinary Least Square (OLS) regression model was used in analyzing the data. It was found that higher audit quality, measured as big 4 auditor and industry specialist auditor, significantly affected analysts' earnings forecast accuracy under varying circumstances. It is recommended that analysts should factor audit quality of the financial statements in making forecasts in order to improve the accuracy of their forecasts.
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    Impact of residence on the academic performance of undergraduate accounting students
    (Department of Finance, Faculty of Management Sciences, University of Ilorin, Ilorin, 2019) Bamigbade, Dayo; Adedoyin, Babatunde Sulaimon
    Abraham Maslow's theory of needs identifies shelter (residence) as a physiological need for human accomplishments. This study examined the impact of residence on the academic performance of undergraduate accounting students. Specifically, it examined whether there is a significant difference between the academic performance of sampled students that resided on-campus and of those that resided off campus; and the impact of residing on-campus on undergraduate accounting students’ academic performance. Four hundred and five (405) observations from one hundred and eighteen (118) students of the Department of Accounting, University of Ilorin in the 2018/2019 academic session were used for analysis. Electronic questionnaire was used for data collection on residency status while academic performance data was extracted from students’ academic records. Student t-test and Ordinary Least Square (OLS) regression was used for analysis. It was found that on-campus resident students performed better (t = -2.971, p<0.05) academically than off-campus resident students; after controlling for the effects of academic ability (based on admission entry record), age and gender, residing on-campus had a significant positive effect (β = -0.122, p<0.05) on students’ academic performance only at the 100 level. Therefore, it was concluded that residence has a significant impact of the academic performance of fresh accounting students only. It was recommended that fresh undergraduate accounting students be given priority in allocating on campus residence by appropriate authority.
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    Islamic banking efficiency: A cross-country analyisis of Africa and Asia.
    (Publication of Faculty of Social and Management Sciences, Federal University, Birnin Kebbi., 2022) Jimoh, Abdulrazaq; Bamigbade, Dayo; Attah, John Adeyi
    The Islamic banking system has been adopted by many countries, as a veritable alternative to interest-based banking in the area of intermediation and inclusive finance. However, the efficiency of the system which is fundamental to the competitiveness of the banks is currently being questioned. This study, therefore, made a country-wise analysis of Islamic banking efficiency in selected countries of Africa and Asia from 2012 to 2019. Fifty-Six Islamic banks were selected from Seventeen Countries and data were collected from annual reports of the banks. Data Envelopment Analysis (DEA) was used to estimate the technical efficiency scores of the banks. Country-level average efficiencies were then used for the analysis. The study found that the selected Islamic banks were not fully efficient. It was also found that the observed inefficiencies were majorly pure technical. The study concluded that Islamic banking systems in the selected countries were technically inefficient due to pure technical inefficiencies (managerial underperformance- lack of skills, competence) in Islamic banking operations. Employment of competent managerial staff is therefore recommended to boost the technical efficiency of the banks and enhance their competitive positions in the market.
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    The Knowledge of Taxations and the Theory of Planned Behaviour: Differences among Nigerian Graduates
    (Faculty of Social Sciences, Kogi State University, Anyigba, Kogi, 2014) Bamigbade, Dayo; Fagbemi, Temitope Olamide
    This study investigated the differences in tax knowledge, attitude, subjective norms and perceived behavioural control of Nigerian graduates. Primary data was collected through the administration of structured questionnaire. Descriptive statistics and Analysis of Variance (ANOVA) was used for data analysis. It was found that Nigerian graduates differ significantly (at 5% level) in their tax knowledge, attitude, subjective norms and perceived behavioural control in relation to their tax compliance intention. It is recommended, among others, that tax education should be introduced into tertiary education curriculum in Nigeria.
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    The Knowledge of Taxations and the Theory of Planned Behaviour: Differences among Nigerian Graduates
    (Contemporary Journal of Social Sciences, 2014) Bamigbade, Dayo; Fagbemi, Temitope Olamide
    This study investigated the differences in tax knowledge, attitude, subjective norms and perceived behavioural control of Nigerian graduates. Primary data was collected through the administration of structured questionnaire. Descriptive statistics and Analysis of Variance (ANOVA) was used for data analysis. It was found that Nigerian graduates differ significantly (at 5% level) in their tax knowledge, attitude, subjective norms and perceived behavioural control in relation to their tax compliance intention. It is recommended, among others, that tax education should be introduced into tertiary education curriculum in Nigeria.
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    THE LINEAR EFFECT OF BANK LIQUIDITY ON PROFITABILITY IN SELECTED AFRICAN ECONOMIES
    (2018) Etudaiye-Muhtar, Oyebola; Bamigbade, Dayo; Fagbemi, Temitope; Abdurraheem, Abdulazeez
    Given the importance attached to sound liquidity management in the banking industry, this paper investigates the effect of bank liquidity on profitability. The study employs the bankruptcy cost and risk-return hypotheses to examine the linear effect of bank liquidity on bank profit. Annual bank-specific data from commercial banks in Kenya, Nigeria and South Africa, for the period 2000-2014, are used in the study. The two-step system generalised method of moments technique of analysis, an instrumental variable technique that addresses issues such as endogeneity, reverse causality and auto-correlation, is used for the investigation. The results revealed a statistically significant and positive relationship between liquidity and bank profit indicating the applicability of the bankruptcy cost hypothesis. This implies that banks in the study benefit from reduced financial distress and funding costs thereby increasing profits. The study thus recommends that commercial banks in the selected countries hold higher levels of liquidity to mitigate the risk of failure and increase profit.
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    Marketability of Islamic Banking Products in Nigeria: A Case Study of Jaiz Bank Plc
    (Department of Finance, Faculty of Management Science, University of Ilorin, Ilorin, 2022) Jimoh, Abdulrazaq T.; Bamigbade, Dayo; Attah, John A.; Abdurraheem, Abdulazeez Adewuyi; Kolawole, Kayode D.
    The marketability of Islamic financial products is a goal which requires painstaking efforts and strategies on the part of the banks. This goal has however come under serious scrutiny in Nigeria as only a small portion of the Nigerian financial market has been attracted for the products. Thie study therefore analysed the marketability of Islamic banking products in Nigeria with the objective of assessing the relationship between marketing activities, staff training and Islamic banking products in Nigeria. Data were collected from annual reports of Jaiz Bank Nigeria PLC for ten years (2012-2021). The data were analysed via with Pearson correlation techinique. The result indicates that Murabaha (0.64), and Musharakah (0.66) had strong positive relationship with marketing activities while Istisna (0.83) had positive relationship with staff training. The relationships (p-value 0.046, 0.038, 0.003) were found to be significant at 5% level of significance. The study concluded that marketability of Islamic banking products in Nigeria is generally related to marketing activities and the level of knowledge and skills that employees acquired by staff through training and seminars. The study therefore recommended that Jaiz Bank Nigeria PLC should engage in aggressive marketing to boost customers patronage of its products. Increase in the percentage of staff cost allocated to training is also necessary to enhance employees' skills and knowledge for improved market share for the banks' products.
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    Sales force remuneration schemes and SME operational performance: a case study of Gibson Nigeria enterprises.
    (Department of Accounting, University of Ilorin, 2014) Bamigbade, Dayo; Jimoh, Abdulrazaq Taiye; Sakariyahu, Ola Rilwan
    The role of the sales force in achieving a desirable sales volume is a key factor in attaining planned activity levels and by implication, expected operational performance of an entity. This study examined the effect of the use of fixed (salary) and variable (commission) remuneration schemes for the sales force of a Small and Medium Scale (SME) on the profitability of the entity. A significant difference was found at 5% level of significance between the operational performance of the enterprise when fixed remuneration scheme (FRS) was deployed and when a variable remuneration scheme (VRS) was used by the enterprise; with the VRS generating higher performance level. It is thus recommended that SMEs should consider the VRS for their sales force especially when a fixed remuneration for the sales force will constitute a huge portion of fixed costs of operation for the enterprise.
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    ). The role of management accounting in non-profit organizations: a case study of the University of Ilorin, Nigeria
    (Department of Accounting & Finance, Fountain University, Osogbo, 2017) IBRAHIM, Kamaluddeen Funsho Adisa; NOAH, Abdulrafiu Olaiya; Bamigbade, Dayo
    The rate of unawareness exhibited by overseers of most non-profit making organizations about the indispensable tasks performed by management accounting is so alarming that it needs to be imminently addressed. This concern was noticed more in the University system in Nigeria in-spite of the facts that some techniques of management accounting are being applied by the preparers of accounting records in the University system. This study examined the perceptions of Bursary staff in the University of Ilorin, concerning the role of management accounting using quantitative methods to collect and analyses the data. Questionnaires were successfully administered on forty (40) respondents to seek their views in this regard. The maximum response to each question is 5 and this gives an expected mean score of 2.5. Using students t- distribution statistic, the value of each question was calculated around this expected mean. The result was then compared with the tabulated or critical–t value which gives 2.04. This was used to test the formulated hypotheses. The study revealed that management accounting performs useful functions in the organizational process of strategy formulation, control and change. Consequently, some policy options which include continuous enlightenment of non-profit organizations through retreats/seminars/workshops, issuance of a Statement of Accounting Standards on Disclosure of Managerial Accounting Information to enhance quality of managerial accounting information provision, are given to help reverse this unawareness.