Browsing by Author "SALAM, Mudathir Olanrewaju"
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Item Access to Microfinance and Millennium Development Goals (MDGS): A Review of the impact on Developing Countries(Clarion University of Pennsylvania, Clarion, Pennsylvania., 2016) IJAIYA, Muftau Adeniyi; ABDULKADIR, Rihanat Idowu; SALAM, Mudathir Olanrewaju; ABDULRAHEEM, Abdulrasheed; ABDULLAHI, Ibrahim Bello; AJAYI, Micheal AdebayoAccess to microfinance is seen as one of the practical development strategies and approaches that could be implemented to attain the bold ambition of achieving the Millennium Development Goals. The objective of this paper is to discuss the impact of microfinance on Millennium Development Goals (MDGs). The study, through theory and numerous empirical studies, observed that access to finance is an important direct or indirect contributor to the achievement of the most of the goals in rural areas, because it reduces income inequality and poverty of the rural poor - key goal of the MDGs. Thus, the study suggests that government action should focus on institutional best practices for expanding and mainstreaming sustainable microfinance in every facet of the economy. There is need to also improve the dismal performance in children undernutrition, school enrolment, mortality rate, access to drinkable water, etc in post MDGs programme in order to improve and sustain the achievement recorded by the MDGs.Item Assessment of Personal Income Tax Knowledge among the University of Ilorin Staff(Department of Accounting & Finance and Business Administration, Fountain University, Osogbo, 2018-04) SALAM, Mudathir Olanrewaju; KASUM, Abubakar Sadiq; BAMIGBADE, Dayo; ABOGUN, SegunTaxpayers’ 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 non-academic 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 non-academic 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. Based on the findings, it is recommended that State Internal Revenue Service, which is charged with the responsibility of administering the personal income tax in Nigeria, should provide adequate personal income tax education to taxpayers.Item Corporate Governance Mechanisms and Dividend Policy: Evidence from Quoted Deposit Money Banks in Nigeria(Department of Accounting & Finance and Business Administration, Fountain University, Osogbo, 2018-12) OLANREWAJU, Joy Olarike; ABDULKADIR, Rihanat Idowu; SALAM, Mudathir OlanrewajuDecline in dividend payments and weak corporate governance in Nigerian deposit money banks spur the need for this study. Therefore, the study investigates how corporate governance mechanisms such as executive compensation, debt financing, block ownership and directors’ ownership influence the dividend policy of these banks between 2006- 2016. The secondary data used for this study was extracted from the annual reports of the banks and different editions of the NSE fact book. Two-Step System Generalized Method of Moments (GMM) estimator was employed for analyses. Findings revealed that executive compensation, lagged dividend and size significantly affect dividend payment of deposit money banks while other mechanisms like debt financing, block ownership and directors’ ownership were insignificant in explaining dividend payment in Nigeria banks. The study concludes that executive compensation affects firm’s ability to reward shareholders in form of dividend payment in Nigerian deposit money banks. Thus, this study recommends that regulatory bodies like CBN, NDIC should ensure that the compensation paid to the bank executives is regularised so that the interest of investors will not be undermined. In addition, the compensation of the bank executives should be performance based, this will improve their performance and promote higher dividend payment to investors.Item The effect of Financial Statements on The Economic Decisions of Primary Stakeholders in Nigerian Banks(The Department of Business Administration, University of Ilorin, Ilorin, Nigeria, 2011) ABDULKADIR, Rihanat Idowu; ALIU, Atanda Olanrewaju; SALAM, Mudathir OlanrewajuThe major objective of accounting is to provide information for decision making to various users. Such information can be obtained from the financial statements of organisations. This study provides empirical evidence on the impact of the information contained in the financial statements on economic decisions of selected primary stakeholders in Nigerian banks. The four banks chosen for the study include United Bank for West Africa, First Bank, Guaranty Trust Bank and Diamond bank. Also, three user groups namely shareholders, employees and depositors were surveyed in the study. The data for the study was collected from questionnaire distributed to two hundred and forty respondents. Percentages, Z-score statistical test and ANOVA were used to analyse the data gathered for the study. The results of the analysis show that the primary stakeholders lack the ability to analyse information contained in the financial statements and also reveal further that the stakeholders do not base their economic decisions on evaluation of the bank’s financial statements. The study therefore concludes that the financial statements have no significant impact on economic decisions of primary stakeholders of the banks. Based on this, the study recommends amongst others that regulatory bodies and Nigerian banks should organise educative sessions at intervals for stakeholders to enlighten them on the importance of financial reporting to their economic decision making and to guide them on how to read and analyse information contained in the financial statements.Item EFFECT OF RISK MANAGEMENT ON INVESTMENT STRATEGY AND CONTRIBUTORY PENSION SCHEME SUSTAINABILITY NEXUS IN NIGERIA(Department of Accounting & Finance and Business Administration, Fountain University, Osogbo, Osun State., 2020) ALIU, Olanrewaju Atanda; SALAM, Mudathir Olanrewaju; HALIRU, Adeshola Nurudeen; KASUM, Abubakar SadiqIn line with the increasing desire for sustainability across numerous areas of study, occupational pension sustainability has emerged among the core objectives of pension reforms. Thus, this study assesses the impact of risk management on the relationship between investment strategy and sustainability of contributory pension scheme (CPS) in Nigeria. Using data obtained from survey of 197 managers and assistant managers of pension fund administrators that manage CPS fund in Nigeria, the study employs partial least square structural equation modelling to examine the effects of investment strategy and risk management on sustainability of CPS. The study further examines the moderating effect of risk management on the relationship investment strategy and contributory pension scheme sustainability. Findings reveal that investment strategy and risk management have significant positive effects on the sustainability of CPS in Nigeria. Further analyses show that risk management has negative moderating effect on the relationship between investment strategy and the sustainability of CPS. The implications of the findings to management practices of the Nigerian CPS were presented among which we recommend that pension fund administrators need to strike a balance between their investment strategy and risk management decisions. This would improve their liquidity, reduce the risks to the minimum and facilitate the sustainability of the pension fund entrusted in their management.Item Impact of Compliance with Sustainable Development Related Accounting Standards on Financial Position and Market Value of Nigerian Quoted Companies(Faculty of Management and Social Sciences, Ibrahim Badamosi Babangida University Lapai, Niger State, 2011-12) KASUM, Abubakar Sadiq; ALIU, Atanda Olanrewaju; SALAM, Mudathir OlanrewajuThe study is a follow-up to the presentation at the 16th AISDRC in Hong Kong, which among other critiques suggested that other performance indicators, besides profitability, are studied in relation to sustainability. The study and still is against the background that sustainable development practices may involve financial outflows and hence, may be an unattractive investment to managers. this present study evaluated the impact of corporate compliance to accounting standards that are deemed to enforce sustainable development practices and can, therefore, imply sustainable development practices by companies, on financial position and market value of quoted companies in Nigeria. Forty-four companies that have existed since financial reporting standardization began in Nigeria were studied over five years, using Regression statistical technique. The coefficient of determination (R2) results showed that sustainable development practices of companies relates in a very insignificant extent with better asset worth and improved market valueItem Impact of Education and Gender on Personal Income Tax Compliance in Kwara State, Nigeria(Faculty of Business and Social Sciences, University of Ilorin, Ilorin, Nigeria, 2013-08) SALAM, Mudathir Olanrewaju; ALIU, Atanda Olanrewaju; ABDULKADIR, Rihanat IdowuThis study investigates the impact of education qualification and gender on personal income tax compliance in Kwara State. A questionnaire was administered to 450 respondents in the three local government areas in Ilorin metropolis. Mann-Whitney U test and analysis of variance statistical techniques were employed to analyse the data collected. The results reveal that both educational qualification and gender affect personal income tax compliance. As such, the study recommends that the Kwara State Board of Internal revenue should target the taxpayers with lower level of educational qualifications and male; with a view to directing its audit strategies in respect of the evaders and bridge the tax gap and also to create awareness about the penalty attached to tax evasion.Item The influence of Corporate Governance on Creative Accounting Practices in Nigeria(The Department of Business Administration, University of Ilorin, Ilorin, Nigeria, 2013) FAGBEMI, Temitope Olamide; ABOGUN, Segun; SALAM, Mudathir OlanrewajuThe collapse of some corporate organisations in Nigeria has brought the issue of creative accounting and corporate governance to the forefront. Hence, this study examines the relationship between corporate governance and creative accounting practices from selected Nigerian companies. Using respondents from twenty-five Nigerian companies that have their head offices located in Lagos State, the propositions made were tested using Pearson product coefficient of correlation and regression analysis. Findings from the study suggest that there is significant and positive association between rule observance and creative accounting practices. Evidence also exists on the relationship between creative accounting practices and the decision usefulness of the financial statements. The study concluded that effective corporate governance is necessary to the proper functioning of corporate firms. Finally, the study recommends that corporate governance should be used as a tool to help stem the tide of creative accounting practices.Item Informal Microfinance and Primary Health care in Ekiti LGA, Kwara state, Nigeria.(Brown Walker Press, 2011) IJAIYA, Muftau Adeniyi; IJAIYA, Gafar T.; BELLO, Raji A.; IJAIYA, Mukaila A.; ABDULKADIR, Rihanat Idowu; LAWAL, Wahab A.; SALAM, Mudathir OlanrewajuMicrofinance provides a promising platform to expand health access and coverage for rural poor that are mostly farmers and urban poor who are in the informal sector of the economy through organized groups. Health in rural area is accessed through primary health and community care which is the most visible and commonly used part of the health system. Using a multi regression analysis, this study examines the impact of informal microfinance on primary healthcare. The study shows that there is positive relationship between informal microfinance and primary healthcare. However, poor funding that manifest in inadequate number of health staff with skills appropriate to the health priorities of rural areas; poor maintenance of equipment; inadequate drugs, etc coupled with diminishing confidence in public sector health facilities; rapid population growth, political instability; non-existence rural workforce policies and strategies etc, as well as the spartan living conditions in rural areas made health care services inaccessible to the rural people. The study thus recommend a regular higher savings and prompt repayment of loan in order to sustain the activities of informal microfinance, so that clients can have more access to fund to meet their health needs. Government should also complement the activities of the informal microfinance by ensuring that drugs are available and cheap in the rural areas of Ekiti. Besides, government should recruit health staff with skills that are appropriate to the health priorities of rural areas, maintain poor equipments, and bring health facilities closer to the rural areas. This will reduce the money spent by the rural dwellers on travelling to receive healthcare.Item Macro-Economic Variables and Non-Performing Loans of Deposit Money Banks in Nigeria(University of Ilorin Library and Publications Committee, 2016-12) OSEMENE, Olubunmi Florence; KOLAWOLE, David Kayode; SALAM, Mudathir OlanrewajuThe importance of banking sector in the development of a nation’s economy cannot be overemphasised. Although banks create no new wealth, their activities facilitate the process of production, distribution, exchange and consumption of wealth. Banks need to exercise caution in the performance of their statutory roles and core activities to avoid non-performing loans (NPLs). NPLs in Nigerian Deposit Money Banks (DMBS) were high to the tune of over N649 billion as at 2015; this can culminate into distress. This situation led to mismatch in maturities, liabilities and assets which further reduced liquidity of banks and distorted credit ratings. Hence, this study examined macro-economic variables and non-performing loans of DMBs in Nigeria. Specifically, the study examined the impact of interest rate on non-performing loans in Nigerian DMBs; the effect of the exchange rate on non-performing loans in Nigerian DMBs and the effect of banking reforms on non-performing loans in Nigerian DMBs. The study employed secondary data obtained from Central Bank of Nigeria’s Statistical Bulletin and financial statement of selected banks in Nigeria covering a period of 15 years from 2000 to 2015. Panel least square method of multiple regression analysis was employed to achieve the objectives of the study. Results of the regression analysis revealed that exchange rate has significant impact on non-performing loans with coefficient value of 4.971265 and at 5% level of significance. The study concluded that macro-economic variables have significant impact on non-performing loans of DMBs in Nigeria. The study therefore, recommends that Central Bank of Nigeria should be proactive in determining the exchange rate and be anticipatory in their policy formulations on exchange rate so as to reduce non-performing loans in the Nigerian banking sector.Item Public Governance Quality and Personal Income Tax Compliance: Evidence from Ilorin Metropolis, Kwara State, Nigeria(The Institute of Chartered Accountants of Nigeria, 2019-09) SALAM, Mudathir OlanrewajuPublic governance quality in terms of government effectiveness and prevention of corruption is crucial to achieving personal income taxpayers' compliance and efficient revenue generation. This study examines the relationship between public governance quality and direct tax version of personal income tax compliance in Ilorin metropolis, Kwara State, Nigeria. Using purposive sampling technique, sample size of three hundred and ninety-four (394) respondents from registered Small and Medium Enterprises operating in Ilorin metropolis were chosen. Data was collected through the use of a structured questionnaire; the study applies both descriptive and inferential statistics. Ordered Logistic Regression was used in testing the hypotheses of the study. Results indicate that there is no relationship between voice and accountability; political stability and absence of violence; confidence in the rule of law and regulatory quality. However, there is relationship between government effectiveness and control of corruption and the direct tax version of personal income tax compliance. Therefore, public governance quality was found to influence tax compliance in relation to government effectiveness and control of corruption. Based on the findings, it was recommended that there should be tremendous improvement in government effectiveness in the provision of quality infrastructure; quality health service and quality educational system to encourage personal income taxpayers to be tax-compliant; and also, adequate measures to strengthening the machinery put in place to control corruption in the state should be given priority.Item A Study of Activity Based Costing on the Performance of Private Firms in Kwara State(College of Management Sciences, Al-Hikmah University, Ilorin, Nigeria, 2013-06) SALAM, Mudathir Olanrewaju; OSEMENE, Olubunmi Florence; BAMIGBADE, DayoThis study attempts to establish the level of awareness and adoption of activity-based costing by private firms in Kwara State, Nigeria and also to determine the relationship between organisational performance and activity-based costing. Copies Questionnaire were administered to 45 private firms in Kwara State. Simple regression model and Z-test statistical techniques were employed to analyse the data collected. The results reveal that private firms in Kwara State are aware of activity-based costing method and that there is a relationship between activity-based costing and organisation performance. The study recommends that private firms should be encouraged to adopt activity-based costing beyond purely product costing to a varied range of cost management applications, such as stock valuation, product or service pricing, out decisions, cost reduction, budgeting, new product or service design, customer profitability analysis, performance measurement and cost modelling.Item Taxpayers' Knowledge and Tax Compliance in Kwara State(Department of Accounting and Management, Nigerian Defence Academy, Kaduna, 2018-12) SALAM, Mudathir Olanrewaju; MUSTAPHA, Lateef Olumide; ALIU, Atanda OlanrewajuTax collected constitutes a major revenue sources for any government to discharge its obligation to its citizens. However, loss of revenue resulting from non-compliance especially in a self-assessment system has been a major problem in Kwara State, Nigeria. Using proportional stratified random sampling technique, sample size of 558 members of the Kwara State Artisans Congress were chosen from the population of 68,338 registered members. Data was collected through the use of a structured questionnaire; the study applies both descriptive and inferential statistics. Simple linear regression and One-way repeated-measures ANOVA were used in testing the hypotheses of the study. Results indicate that taxpayers’ knowledge have statistically significant effect on tax compliance in a self-assessment tax system in Kwara State; and that there are statistically significant differences in taxpayers’ general knowledge, legal Knowledge and technical knowledge. The study concludes that tax compliance in a self-assessment system is influenced by taxpayers’ knowledge. The study recommended that Kwara State Government through the Kwara State Internal Revenue Service should develop new tax education programmes that would accommodate the different and diverse needs of the taxpayers.