FUDMA Journal of Accounting and Finance Research [FUJAFR]
FUDMA Journal of Accounting and Finance Research [FUJAFR] — eISSN: 2992-4693; pISSN: 2992-2704 (FUJAFR) — advances contemporary research in accounting and finance. It publishes original research articles that uncover the connectivity of accounting and finance with the global socio-economic and political environment, thereby encouraging continuous debates in the theory and practice of accounting and financial management. The scope of FUJAFR includes all aspects of accounting and finance, both conventional and contemporary. FUJAFR publishes quarterly in March, June, September, and December and has no deadline for submission of manuscripts. It is an open-access journal. FUJAFR is hosted by the Department of Accounting, Federal University Dutsin-Ma [FUDMA], Katsina State, Nigeria. The Journal publishes in soft copy, giving each article a unique Digital Object Identifier (DOI) to facilitate cross-referencing.
Department of Accounting, Faculty of Management Sciences, Federal University Dutsin-Ma, Katsina State, Nigeria.
The FUDMA Journal of Accounting and Finance Research (FUJAFR) operates a copyright policy that ensures a balance between author rights and wide dissemination of scholarly work. 1. Author Copyright Retention Authors retain full copyright of their published work without restriction. Submission to FUJAFR does not transfer ownership of copyright to the journal. 2. License to Publish By submitting a manuscript and upon acceptance, authors grant FUJAFR: The right to publish, reproduce, and distribute the article The right to identify itself as the original publisher of the work This grant is non-exclusive, meaning authors are free to reuse their work in other contexts, provided proper acknowledgment of the original publication in FUJAFR is made. 3. Licensing of Published Content All articles are published under the: Creative Commons Attribution-NonCommercial License (CC BY-NC 4.0) Under this license: Users may share and adapt the work for non-commercial purposes only Proper attribution to the author(s) and the journal is required Any commercial use requires explicit permission from the copyright holder 4. Author Reuse Rights Authors are permitted to: Archive their published articles in institutional repositories or personal websites Share their work for educational and research purposes Reuse portions of their work in future publications (e.g., books or other articles), provided proper citation of the original publication is included 5. Third-Party Content Authors are responsible for obtaining permission to use any third-party copyrighted material (e.g., images, tables, datasets) included in their manuscripts. Proper acknowledgment must be provided where required. 6. Attribution Requirement All users of FUJAFR content must provide appropriate credit, including: Author name(s) Article title Journal name (FUJAFR) Year of publication
Foreign Financial Flow and Poverty Reduction in Nigeria
Purpose: This study examines the effect of foreign financial flows on poverty reduction in Nigeria between 1990 and 2024. Methodology: The study used annual time series data obtained from the World Development Indicators (WDI), Central Bank of Nigeria (CBN) Statistical Bulletin, and National Bureau of Statistics (NBS), and employed the Autoregressive Distributed Lag (ARDL) technique to examine the short-run and long-run relationships among the variables. Poverty reduction was proxied by per capita income, while official development assistance (ODA), remittances, and foreign direct investment (FDI) were used as measures of foreign financial flows. Inflation and infrastructural quality were included as control variables. Results and conclusion: The results show that ODA has a positive and significant short-run effect on per capita income, while its long-run effect is insignificant. Remittances exhibit weak and mostly negative effects on poverty reduction. FDI, however, has a positive and significant long-run effect on per capita income, indicating its contribution to welfare improvement. The study also reveals that inflation adversely affects per capita income, while infrastructural quality enhances welfare outcomes. The study concludes that foreign financial flows do not automatically reduce poverty in Nigeria, as their effectiveness depends on the nature of the inflows and the domestic economic environment. Implication of findings: The findings highlight the need for improved management of foreign financial inflows, macroeconomic stability, and increased infrastructural development to enhance the poverty-reducing benefits of external financial resources in Nigeria.
Copyright (c) 2026 Adetumilara Adepeju Adedire-Ampitan, Wasiu Olasunkanmi Sonekan https://creativecommons.org/licenses/by-nc/4.0
Effective Communication: A Panacea to Jigsaw of Ponzi Scheme and Misrepresentation of Investment in Ekiti State Universities, Nigeria
Purpose: This study examined the effect of Ponzi scheme-related factors on investors’ behaviour among students of Ekiti State University, Ado-Ekiti and Federal University, Oye-Ekiti. The specific objectives were to examine how the frequency of Ponzi scheme exposure affects students’ perception of investment opportunities, determine the relationship between the level of misrepresentation in investment schemes and students’ investment decision-making, and evaluate how the effectiveness of communication strategies influences students’ awareness and prevention of Ponzi schemesamong university students in Ekiti State, Nigeria Methodology: The study used a survey research design and a structured questionnaire was used to collect primary data for the studywith a total of 394 who were sampled using the Taro Yamane sampling techniquewith proportional distribution across the faculties of the university Results and Conclusion: Regression analysis was used in the analysis of data. The results indicated that the frequency of encountering Ponzi schemes positively and insignificantly affects students’ perception of investment opportunities. The results further revealed that misrepresentation in investment schemes has a positive and significant effecton students' investment decision-making. Moreover, the study revealed that the communication strategies have a positive and significant relationship with investors in terms of awareness and prevention of Ponzi schemes. Implication of findings: The results indicate that only awareness of Ponzi schemes will not significantly affect the Student perception of investment opportunities , reflecting the fact that awareness alone is not enough.
Copyright (c) 2026 Adepoju Adeoba Asaolu https://creativecommons.org/licenses/by-nc/4.0
Forensic Accounting Techniques and Occupational Fraud
Purpose: The purpose of the study was to examine forensic accounting techniques and occupational fraud in Calabar Municipal Council. The specific objectives were to: examine the effect of Benford's law on occupational fraud in Calabar Municipal Council; ascertain the effect of data mining on occupational fraud in Calabar Municipal Council; and investigate the effect of computer-assisted audit techniques on occupational fraud in Calabar Municipal Council. Method: The study adopted a survey research design. The population of the study was 108 respondents from Calabar Municipal Council. Purposive sampling was used in the study. The study employed primary sources of data. Taro Yamane's formula was used to determine the sample size of 85 staff. Multiple regression was adopted for analysis. Results: The major findings included: Benford's law has a positive effect on occupational fraud in Calabar Municipal Council; data mining has a positive but non-significant effect on occupational fraud in Calabar Municipal Council; and computer-assisted audit tools have a positive significant effect on occupational fraud in Calabar Municipal Council. Implications: The study concluded that forensic accounting is a powerful tool for combating occupational fraud, but its effectiveness depends largely on institutional capacity, technological readiness, and regulatory enforcement. It was recommended that organisations include forensic accounting approaches in their internal control systems. Governments should mandate forensic audits in high-risk sectors. The adoption of advanced technologies such as AI and data analytics should be encouraged.
Copyright (c) 2026 Haruna Adamu, Sunday A Effiong, Andortan Solomon Andortan https://creativecommons.org/licenses/by-nc/4.0
Whistleblowing and Payroll Fraud Control in Public Sector
Purpose: This study examined the influence of whistleblowing mechanisms on payroll fraud control in the Nigerian public sector, with particular emphasis on the reduction of ghost workers and multiple salary payments. The study specifically investigated the effects of anonymous whistleblowing and internal whistleblowing on payroll fraud control. Methodology: A survey research design was adopted. The study was conducted among employees involved in payroll administration, internal auditing, human resource management, and related administrative functions in selected public institutions in South-South Nigeria. A purposive sampling technique was used to select 210 respondents. Data were collected through structured questionnaires and analyzed using descriptive statistics, Pearson correlation, and multiple regression analysis with the aid of the Statistical Package for Social Sciences (SPSS). Results and Conclusion: The findings revealed that anonymous whistleblowing has a positive and statistically significant effect on payroll fraud control (β = 0.512, p < 0.05), while internal whistleblowing also exerts a significant positive influence (β = 0.376, p < 0.05). The regression model explained 61% of the variation in payroll fraud control (R² = 0.610), indicating that whistleblowing mechanisms are important predictors of fraud control effectiveness. The study concludes that effective whistleblowing systems enhance payroll accountability and contribute significantly to the reduction of payroll fraud in public institutions. Implication of Findings: The findings underscore the need for public institutions to strengthen confidential reporting mechanisms and institutional support systems that encourage employees to report payroll irregularities without fear of victimization.
Copyright (c) 2026 Ovat Raymond Oton, Sunday A Effiong https://creativecommons.org/licenses/by-nc/4.0
Carbon Accounting Practices and Financial Sustainability of Oil Producing Companies in Nigeria
Purpose: Examine the effect of carbon accounting practices (scope of emissions, emission sources, emission categories, and reporting boundaries) on financial sustainability of oil-producing companies in Nigeria. Methodology: Survey design, population of 100 staff drawn from five oil-producing companies, census sampling, structured questionnaire, multiple regression analysis. Results: Scope of emissions (β=.129, p=.011), emission sources (β=.290, p=.000), emission categories (β=.144, p=.001), and reporting boundaries (β=.244, p=.000) positively and significantly influenced financial sustainability. Conclusion: Carbon accounting practices significantly enhance financial sustainability of oil-producing companies. Implications: Oil companies should strengthen carbon accounting systems to improve sustainability and stakeholder confidence.
Copyright (c) 2026 Agbor Akwaji, Sunday A Effiong, Hilary Nkad Kubua https://creativecommons.org/licenses/by-nc/4.0
Exploring the Role of Spiritual Accounting in Enhancing Ethical Accountability in Nigeria’s Public Sector
Purpose: This study examined the role of spiritual accounting in enhancing ethical accountability in Nigeria's public sector, with particular emphasis on public servants in Keffi, Abuja, and Lafia. It sought to determine whether the integration of spiritual values into public service influences ethical decision-making, transparency, honesty, and accountability in the management of public resources. Methodology: The study adopted a mixed-method research approach using a descriptive survey design. Primary data were collected through structured questionnaires administered to 150 public sector employees selected from Keffi, Abuja, and Lafia. Data were analyzed using descriptive statistics, Pearson correlation, and regression analysis to examine the relationship between spiritual accounting and ethical accountability. Results: The findings revealed a statistically significant positive relationship between spiritual accounting and ethical accountability. Regression results showed that spiritual accounting explained 47.3% of the variation in ethical accountability, indicating that public officials who internalize spiritual values exhibit higher levels of transparency, integrity, honesty, and responsible stewardship of public resources. The study concludes that spiritual accounting provides a complementary ethical framework that strengthens conventional legal and institutional accountability mechanisms in the Nigerian public sector. Implication of Findings: The findings suggest that incorporating spiritual and moral values into public sector ethics through training programmes, value-based codes of conduct, and inclusive ethical awareness initiatives could reinforce integrity, improve accountability, and contribute to reducing corruption and unethical practices in public governance.
Copyright (c) 2026 Confidence Onun Eteng, Joy Edeheudim Essien, Edeheudim Elijah Essien https://creativecommons.org/licenses/by-nc/4.0
Government Support, Financial Inclusion and SMEs Performance in Nigeria – A Conceptual Framework and Literature Review
Purpose: This study aims to examine the interaction between financial inclusion and SME performance, assess how government support can be integrated to strengthen this relationship, and propose a conceptual framework. This is necessitated by the rapid expansion of digital financial services and fintech innovations, which have dramatically altered Nigeria's financial inclusion landscape over the past decade. Methodology: The study employed a literature review to evaluate and synthesise existing knowledge, identify gaps, and develop a theoretical foundation. Result and conclusion: Empirical findings have shown mixed results in the relationship between FI and SME performance. A theoretical gap was also identified. It can be concluded that, the findings suggest a moderating role for government support, which can improve the existing literature. Implication of findings: Therefore, it is recommended that this proposed framework be tested empirically to provide an in-depth theoretical viewpoint.
Copyright (c) 2026 Mohammed Hamidu Usman, Aminu Kado Kurfi, Aminu Bello https://creativecommons.org/licenses/by-nc/4.0
Electronic Banking and Financial Performance of Commercial Banks
Purpose: The purpose of this study is to examine how the adoption of electronic banking services affects financial performance of commercial banks in Cameroon. The study aims to provide evidence on whether electronic banking enhances operational efficiency, customer service delivery, and profitability within the banking sector. Methodology: This study adopted ex-post facto research design. The sample size of 5 Commercial banks in Cameroon from 2016 to 2025 constituted the sample based on judgemental sampling technique. Secondary data from the annual reports of the sampled banks under review which include reports ATMS, Mobile banking, internet banking, ROA were used. The data were captured from the annual audited financial statements and collated with the aid of SPSS. The data were analysed through multiple regression model. Results and conclusions: The findings revealed that ATM, Internet Banking have a positive and statistically significant influence on the Return on Assets of commercial banks in Cameroon and mobile banking has a negative significant influenced on Return on asset. It thus concluded that electronic banking significantly influenced the financial performance of commercial banks in Cameroon, though the direction and magnitude of the effect vary across different e-banking channels. Implications: ATM and internet banking positively and significantly enhance bank profitability, so continued investment in these channels is justified. Conversely, mobile banking negatively impacts returns, requiring strategic reassessment of costs, security, and pricing to reverse the trend..
Copyright (c) 2026 Gisele Njei, Sunday A Effiong, Oru Tabong Rene https://creativecommons.org/licenses/by-nc/4.0
Idle Balances and Foreign Portfolio Investments in Nigeria
Purpose: The study analysed the effect of investing inactive bank deposits on the net inflows of foreign portfolio investments in Nigeria. Methodology: The study utilized secondary data obtained from the Central Bank of Nigeria (CBN) spanning 1981 to 2022. Based on the theory of bank-based financial system, the study modelled net inflows of foreign portfolio investment (PI) as a function of credit supply to private sector (CS), money supply (MS), lending rate (LR), deposit rate (DR), and idle balances (IB). The study employed descriptive statistics, correlation analyses, augmented dickey fuller test, and the Auto-regressive Distributive Lag (ARDL) regression technique to analyse 42 observations. Results and Conclusions: The results showed that idle balances have negative and significant effect on foreign portfolio investment both in the long and short runs. The study concludes that idle balances, when reduced by way of actively invested in returns generating assets in the stock market of foreign countries will promote portfolio investment net inflows into Nigeria. Implications: The findings imply that deposit money banks should on behalf of depositors, invest inactive bank deposits (idle balances) in foreign portfolio investment having thoroughly analysed associated risks and returns.
Copyright (c) 2026 Timilehin Adebayo Aderibigbe https://creativecommons.org/licenses/by-nc/4.0
Counter Terrorism Financing and Food Security
Purpose: The paper empirically investigated the impact of counter-terrorism financing on food security in Nigeria, spanning the period from 2004 to 2024. Amidst escalating unconventional security threats and their attendant disruptions to the agrarian economy, the research adopts a multidimensional approach to food security by disaggregating food security into three primary components: crop production (CROP), grain production (GRAINS), and livestock (LIVE). Methodology: Utilizing the Autoregressive Distributed Lag (ARDL) Bounds testing approach and Error Correction Model (ECM), the study examined both the short-run dynamics and long-run equilibrium relationships between counter-terrorism financing proxy by government on expenditure on military, police, custom and immigration on food security with population growth as control variable. Results and conclusion: The empirical results revealed a robust long-run cointegrating relationship across all three models, confirmed by significant negative Error Correction Terms. A critical finding is the "security-productivity paradox," where high-intensity military spending (LOGMIL) was found to exert a negative long-run pressure on grain production, likely due to the "crowding-out" effect on agricultural investment. Conversely, the results demonstrated that institutional security measures, particularly police and customs expenditures, yield a significant "peace dividend" in the long run, facilitating the expansion of the livestock and crop sectors. Short-run dynamics, however, were characterized by volatility, as immediate shifts in security enforcement (D(LOGPOL)) and trade regulations (D(LOGCUS)) initially disrupted production cycles. Overall, the study concluded that food security in Nigeria is inextricably linked to the efficiency of the domestic security architecture. While defense spending is necessary for immediate threat containment, long-term agricultural resilience depends on strengthening internal policing and trade facilitation. Implication of Findings: Consequently, the research recommends a strategic shift in fiscal priority toward institutional security, the establishment of sector-specific "Agro-Ranger" units to protect farming communities, and the reinvestment of security savings into rural infrastructure.
Copyright (c) 2026 Omini Nta Ofem, Sunday A Effiong, Hilary Nkad Kubua https://creativecommons.org/licenses/by-nc/4.0
Financial Market Development and Foreign Direct Investment in Nigeria, 1986-2023
Purpose: Foreign direct investment (FDI) has been deteriorated and persistently being volatile in Nigeria recently, these may due to weakness in the financial system. Due to the forgoing, this study investigated the impact of financial market development on foreign direct investment in Nigeria for the period, 1986-2023. Specifically, it seeks to evaluates whether improvements in key financial market indicators such as financial market access, depth and efficiency have significantly contributed in attracting and sustaining foreign direct investment inflows in Nigeria over the studied period. Methodology: The Study adopted autoregressive distributed lag (ARDL) model Results and Conclusion: The study found that financial market access positively influences FDI in Nigeria, being significant in the short run but turned to be insignificant in the long run. Financial market efficiency revealed a positive and significant influence on the FDI both in short and long runs, whereas financial market depth exerted positive and negative insignificant influences on FDI respectively. The study therefore concludes that while financial market depth has no significant impact on the FDI, financial market and efficiency significantly influenced foreign direct investment in Nigeria. Implication of findings: The findings of the study suggest the financial market access and efficiency are central in attracting FDI in Nigeria, while financial market depth has no significant impact. Hence, policymakers should prioritize improving market accessibility, efficiency, and transparency to enhance sustained FDI inflow in Nigeria.
financial market depth financial market efficiency
Copyright (c) 2026 Samaila Ali Sani, Zainab Abdul Husseini, Ibrahim Mohammed, Irom Ishaku Agabi https://creativecommons.org/licenses/by-nc/4.0
Management Accounting Techniques and Supply Chain Efficiency: Evidence from Olam Nigeria Limited
Purpose: This study examined the influence of management accounting techniques on supply chain efficiency in Olam Nigeria Limited. Specifically, the study investigated the effects of budgetary control, activity-based costing (ABC), and just-in-time (JIT) inventory management on supply chain efficiency. Methodology: A quantitative research approach was adopted using a survey research design. Primary data were collected through structured questionnaires administered to employees of Olam Nigeria Limited. The study population comprised 368 staff members, while the Taro Yamane formula was used to determine a sample size of 192 respondents. Data obtained were analyzed to evaluate the relationship between management accounting techniques and supply chain efficiency. Results and Conclusion: The findings revealed that budgetary control significantly improves supply chain efficiency through effective monitoring and control of costs across procurement, production, and distribution activities. Activity-based costing (ABC) was also found to positively influence supply chain efficiency by enabling accurate cost allocation and identification of cost drivers for better decision-making. Furthermore, just-in-time (JIT) inventory management significantly enhanced supply chain efficiency by reducing inventory holding costs, minimizing waste, and improving material flow. The study concluded that management accounting techniques play a vital role in enhancing supply chain efficiency in organizations. Implication of Findings: The study implies that organizations should strengthen budgetary control systems, expand the adoption of ABC, and fully integrate JIT inventory management practices to improve operational efficiency, reduce waste, and enhance overall supply chain performance.
Copyright (c) 2026 Emerald Ajija Ogar, Sunday A Effiong, Joy Edeheudim Essien https://creativecommons.org/licenses/by-nc/4.0
Auditing system and achievement of financial accountability in local governments: the moderating role of institutional quality
Purpose: This study evaluates the impact of auditing systems—measured by internal audit efficiency, external audit effectiveness, and audit findings implementation—on the financial accountability (financial reporting quality and transparency) of Local Government Areas (LGAs) and Local Council Development Areas (LCDAs) in Southwest Nigeria. It also examines the moderating role of institutional quality in this relationship. Methodology: Anchored on Agency Theory, the study adopted a pragmatic mixed-methods research design. Primary data was gathered from selected local governments using structured questionnaires for a quantitative sample of 320 financial professionals, alongside semi-structured interviews with 18 key respondents and a financial expert. Quantitative data was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM), while qualitative data was evaluated via NVIVO thematic analysis. Results and Conclusion: Results showed moderate to low baseline perceptions of financial accountability (item means falling below 3.00), alongside significant variation in auditing system effectiveness. Internal audit efficiency, external oversight, and rigorous implementation of recommendations significantly affect financial stewardship. The study concludes that institutional quality acts as a vital moderator to prevent political interference and enforcement failures. Implication of findings: Sub-national policymakers must strictly safeguard the structural and political independence of audit offices, establish legal mandates for the timely implementation and public disclosure of audit findings, and systematically upgrade institutional enforcement frameworks to curb corrupt practices.
Copyright (c) 2026 M A Babatunde, O Abdul-Hakeem Shuaib, Sanni, M. https://creativecommons.org/licenses/by-nc/4.0
Artificial intelligence and fraud detection in University of Calabar Nigeria
Purpose: This study examined the effect of artificial intelligence on fraud detection in the University of Calabar, Nigeria. Specifically, the study investigated the effect of cloud accounting, software automation, data security, regulation, and ethical concerns of artificial intelligence on fraud detection. Methodology: The study adopted a survey research design. The population comprised 830 staff of the University of Calabar, while Taro Yamane formula was used to derive a sample size of 270 respondents. Data was collected through structured questionnaires and analyzed using multiple regression analysis. Results and conclusion: The findings revealed that cloud accounting and data security had negative significant effects on fraud detection, while software automation and regulation had positive effects on fraud detection. Ethical concerns showed a positive but insignificant effect on fraud detection. The study concluded that artificial intelligence significantly influences fraud detection when properly integrated into institutional systems. Implication of findings: Educational institutions should adopt AI-driven fraud detection systems, strengthen data protection policies, and ensure proper regulation and ethical compliance in the use of artificial intelligence technologies.
Copyright (c) 2026 Nicholas Agbo, Sunday Effiong https://creativecommons.org/licenses/by-nc/4.0
Student Loan Access and Academic Performance: Evidence from Modibbo Adama University NELFUND Beneficiaries
Purpose: This study examines whether access to student loans improves academic performance among university students in Nigeria. Specifically, it evaluates the effect of the Nigerian Education Loan Fund (NELFUND) participation on students’ academic performance, cumulative grade point average (CGPA), while accounting for prior academic ability, socioeconomic status, and time allocation factors. Methodology: The study adopts a quantitative cross-sectional research design using primary data collected from undergraduate students at Modibbo Adama University, Yola. The sample was drawn from population of 15263 students and consisted of a total sample of 659 students, out of which 303 are NELFUND beneficiaries and 356 were non-NELFUND beneficiaries. A purposive stratified sampling technique was employed to ensure representation across key demographic and academic characteristics. The study utilizes a stepwise Ordinary Least Squares (OLS) regression approach to estimate the association between student loan and academic performance. To address potential selection bias, Propensity Score Matching (PSM) is applied as a robustness check, matching beneficiaries with comparable non-beneficiaries based on observable characteristics. Results and Conclusion: The findings indicate that access to NELFUND students’ loan participation is associated with a statistically significant improvement in academic performance. Beneficiaries record an average CGPA increase of approximately 0.34 points (p < 0.01) relative to non-beneficiaries. The robustness of this effect is confirmed through PSM estimates, which yield a comparable treatment effect of +0.35. The results further show that prior academic performance is the strongest predictor of current achievement, while low socioeconomic status exerts a significant negative influence on academic performance. Implication of Findings: The study highlights the importance of well-targeted and efficiently implemented student loan programmes in improving academic outcomes. It suggests that policymakers should strengthen disbursement efficiency and complementary academic support systems to maximize the impact of NELFUND on student performance.
Copyright (c) 2026 Abdullahi Ahmed, Danjuma Ahmad, Adamu Jibrilla https://creativecommons.org/licenses/by-nc/4.0
Effect of cashless policy on the performance of deposit money banks in Nigeria
Purpose: This study examined the effect of cashless policy on the performance of deposit money banks in Nigeria. Methodology: The study adopted an ex-post facto research design using annual time series data obtained from the Central Bank of Nigeria Statistical Bulletin covering the pre- and post-cashless policy periods from 2009 to 2019. Multiple regression analysis was employed to examine the relationship between Automated Teller Machine (ATM), Point of Sale (POS), Internet Banking Transactions (IBT), and Return on Assets (ROA). Results and conclusion: The findings revealed that POS transactions have a positive and statistically significant effect on the performance of deposit money banks in Nigeria. Internet Banking Transactions showed a significant but negative relationship with bank performance, while ATM transactions exhibited a positive but weak relationship with ROA. The study concludes that cashless policy significantly influences bank performance in Nigeria through electronic payment channels. Implication of findings: The study recommends that deposit money banks should strengthen digital payment infrastructure, improve cyber security systems, and encourage the use of electronic payment channels to enhance profitability and reduce dependence on physical cash transactions.
Copyright (c) 2026 Solomon Andortan Andortan, Sunday Effiong, Eyibio Okon Ikpe https://creativecommons.org/licenses/by-nc/4.0
Adapting management control systems to hybrid work: evidence from Nigerian consulting firms
Purpose: This study examines the effectiveness of Management Control Systems (MCS) implementation in hybrid work environments of consulting firms in Lagos and Abuja, Nigeria. There are prior studies which researched into MCS in traditional work settings, but limited evidence exists on their adaptability to hybrid arrangements. Methodology: The study used a quantitative research design to address the gap. Data were collected through structured questionnaires administered to 300 employees and managers across consulting firms in Lagos and Abuja. Subsequently, multiple regression analysis was employed to test the relationship between MCS and hybrid work management outcomes. Results: The findings revealed that MCS implementation significantly enhance productivity, accountability, and organisational cohesion in hybrid work settings. The critical determinants of implementation effectiveness that were identified are system flexibility, performance monitoring capability, and cultural enforcement mechanisms. Implications of Findings: Owing to the persistence of communication gaps and collaboration challenges between remote and on-site employees, there is the need for improved digital integration and leadership coordination. The study contributes to management accounting literature by extending MCS theory into hybrid organisational contexts. It offers practical implications for consulting firms seeking to optimise control mechanisms in flexible work environments. These results highlight the need for adaptive technological integrated control systems to sustain performance and organisational resilience in evolving work structures.
Management Control systems, Hybrid Work, Consulting Firms
Copyright (c) 2026 Omowunmi Olajumoke Ogunleye, Ruqayah Oyinlola Sansa, Fatima Isa https://creativecommons.org/licenses/by-nc/4.0
The nexus between agricultural output and poverty reduction in Nigeria
Purpose: This study examines the investment in agriculture and poverty reduction in Nigeria over the period 1990–2024. Specifically, the study analyzes the relationship between investment in agricultural —livestock, fishery, and forestry and poverty reduction in Nigeria. Methodology: The study employed the ex-post facto research design, using secondary data extracted from the NBS and the CBN, the study employs the Phillips–Perron unit root test, Johansen co-integration technique, ECM, and OLS estimation. Results and conclusion: The generated empirical findings established the presence of a long-run relationship among the variables. However, short-run and parsimonious estimates indicate that agricultural sub-sectors exert largely insignificant effects on poverty reduction during the period under review, although the ECM is correctly signed and significant, suggesting gradual adjustment to long-run equilibrium. The study concludes that structural constraints, insecurity, and inadequate sector investment may be responsible for this outcome. Implication of findings: The findings imply that increases in agricultural investment have not transformed into meaningful poverty reduction in Nigeria.
Copyright (c) 2026 Tarekebena, J. Gbenekeme, Prof Victor E. Oriavwote https://creativecommons.org/licenses/by-nc/4.0
Capital structure and financial performance of listed natural resource firms in Nigeria
Purpose: This study examines how various capital structure ratios affected the performance of natural resource firms in Nigeria. Methodology: Panel data covering 2015 to 2024 was collated from the four (4) listed natural resource firms on the Nigerian Exchange Group (NGX). The study employed the Fixed-Effects panel regression technique after establishing its suitability for the data through the Hausman test. Results and conclusion: The findings indicate that long-term leverage responds positively, albeit insignificantly, to the asset efficiency ratio of the natural resources sector of Nigeria. The findings also indicate that while current leverage significantly enhances the asset efficiency ratio of the natural resources sector, the gearing ratio significantly depletes the net returns of firms in the sector. The study concludes that current leverage has significantly enhanced asset efficiency, but debt-to-equity impairs the net returns accruing to assets in Nigeria's natural resources sector. Implication of findings: This result suggests that corporate performance in the sector responds to, and is more sensitive to, leverage than to a blend of leverage and equity in its capital structure. Hence, the debt-to-equity mix needs to be moderated while maintaining current leverage levels to enhance asset productivity in the sector.
Copyright (c) 2026 Dumani Markjackson, Victor Moses https://creativecommons.org/licenses/by-nc/4.0
Information technology and tax administration in Cross River State, Nigeria: Empirical evidence from a quantitative study
Purpose: This study examined the effect of information technology on tax administration in Cross River State, Nigeria, with emphasis on tax processing time. Methodology: The study adopted a quantitative survey design. Data were collected from 239 staff of the Cross River State Internal Revenue Service using structured questionnaires. Descriptive statistics and multiple regression analysis were employed using SPSS. Results and Conclusion: The findings revealed that electronic tax registration, electronic tax assessment, and electronic tax filing significantly influenced tax processing time. Electronic tax payment and electronic tax audit showed positive but insignificant effects. The study concluded that digital tax administration improves efficiency and reduces delays when electronic systems are properly integrated and managed. Implication of findings: The study recommends increased investment in digital infrastructure, taxpayer education, system integration, and staff training to strengthen electronic tax administration and improve public sector efficiency.
Copyright (c) 2026 Peace Emelumba, Sunday A Effiong, Okon Ikpe Eyibio https://creativecommons.org/licenses/by-nc/4.0
Determinants of environmental disclosure in the Oil and Gas industry: Evidence from Nigeria
Purpose: This study examined the determinants of environmental disclosure among oil and gas companies listed on the Nigerian Exchange Group (NGX), focusing on the effects of profitability, leverage, firm size, audit firm type, and financial constraints. Methodology: An ex post facto research design was adopted using secondary data extracted from the annual reports of all listed oil and gas companies in Nigeria from 2013 to 2024. Data were analyzed using descriptive statistics, correlation analysis, diagnostic tests, and pooled Ordinary Least Squares (OLS) regression. Results and conclusion: The findings showed that profitability and firm size have a positive and statistically significant effect on environmental disclosure, indicating that larger and more profitable firms provide more extensive environmental information. Financial constraint exhibited a significant negative relationship with environmental disclosure, suggesting that financially constrained firms disclose less environmental information. Conversely, leverage and audit firm type had no significant influence on environmental disclosure. The study concluded that profitability, firm size, and financial constraints are key determinants of environmental disclosure practices among listed oil and gas companies in Nigeria. Implication of findings: The study highlights the need for stronger environmental reporting regulations and mandatory disclosure standards. It also suggests that policymakers should provide incentives and support mechanisms to encourage improved environmental reporting, particularly among financially constrained firms, thereby enhancing corporate transparency, accountability, and sustainable development in Nigeria’s oil and gas sector.
Copyright (c) 2026 Ogbomo Nosakhare, Henry Emife Monye-Emina https://creativecommons.org/licenses/by-nc/4.0
Effect of Liquidity Management on Profitability of Listed Consumer Goods Firms in Nigeria
Purpose: This study examines the effect of liquidity management on the profitability of listed consumer goods firms in Nigeria over the period 2015–2024, with particular focus on how cash, quick and defensive interval positions translate into shareholder returns in a volatile emerging-market environment. Methodology: A quantitative correlational design was adopted using panel data from five listed consumer goods firms purposively selected for continuous listing and data availability, yielding 50 firm-year observations. Liquidity was measured using the Cash Ratio, Quick Ratio and Defensive Interval Ratio, while profitability was proxied primarily by Return on Equity, with Return on Assets and Return on Investment used for sensitivity analysis. Secondary data drawn from audited IFRS financial statements were analysed using descriptive statistics, Pearson correlation and multiple regression in SPSS. Results and Conclusion: The findings reveal a significant positive effect of the Cash Ratio on Return on Equity, while the Quick Ratio and Defensive Interval Ratio show weaker and largely insignificant direct effects on equity returns. The sensitivity analyses confirm that the Cash Ratio remains the dominant liquidity driver of profitability across alternative profitability measures. The study concludes that effective cash management is the strongest lever of shareholder returns among Nigerian consumer goods firms. Implication of findings: The findings suggest that managers of Nigerian consumer goods firms should prioritise robust cash management practices, integrate liquidity planning with strategic decision-making, and balance short-term solvency with the opportunity cost of holding idle cash in order to enhance shareholder returns under volatile macroeconomic conditions.
Copyright (c) 2026 Olayinka Onifade Hakeem, Abidemi Ogunsan Adenike, Chris Momoh Yusuf, Lewis Kedi-Ewroh https://creativecommons.org/licenses/by-nc/4.0
ESG practices and firm value: Evidence from listed financial firms in Nigeria
Purpose: This study examined the effect of Environmental, Social, and Governance (ESG) practices on the value of listed financial firms in Nigeria. Specifically, the study investigated the effect of Environmental Practice Disclosure Index (EPDI), Social Practice Disclosure Index (SPDI), and Governance Practice Disclosure Index (GPDI) on firm value. Methodology: The study adopted an ex-post facto research design. The population comprised deposit money banks in Nigeria, while the sample consisted of all seven internationally licensed deposit money banks listed on the Nigerian Exchange Group (NGX). A census sampling technique was employed, covering the period from 2015 to 2024. Data were obtained through content analysis of ESG disclosure items extracted from the annual reports of the selected banks. Multiple linear regression analysis was used to examine the relationship between ESG disclosure practices and firm value. Results and Conclusion: The findings revealed that ESG disclosures have a significant effect on the value of listed financial firms in Nigeria. Among the ESG dimensions, Governance Practice Disclosure Index (GPDI) exerted the strongest influence on firm value, while Environmental Practice Disclosure Index (EPDI) and Social Practice Disclosure Index (SPDI) demonstrated relatively minimal effects. The study concluded that governance-related disclosures are the most influential ESG component in enhancing the value of listed financial firms in Nigeria. Implication of Findings: The findings imply that ESG disclosure practices serve as important signals of transparency, accountability, and quality in the Nigerian banking sector. Enhanced governance disclosures, in particular, can strengthen investor confidence and distinguish high-performing banks from institutions with potential hidden risks. Consequently, financial firms should prioritize comprehensive ESG reporting, especially governance-related disclosures, to improve market valuation and stakeholder trust.
Copyright (c) 2026 Joy Edeheudim Essien, Sunday A Effiong, Emerald Ajija Ogar https://creativecommons.org/licenses/by-nc/4.0
Forensic Accounting and Money Laundering Detection of Listed Commercial Banks in Nigeria
Purpose: This study examined the effect of forensic accounting techniques on money laundering detection in listed commercial banks in Nigeria from 2015 to 2025. Specifically, the study investigated the influence of financial statement analysis, data mining and digital analysis, fraud investigation, and transaction tracing on money laundering detection. Methodology: The study adopted a quantitative research design and relied on secondary data obtained from the annual reports and financial statements of selected listed commercial banks in Nigeria. Data collected were analyzed using descriptive statistics, correlation analysis, and multiple regression techniques. Results and Conclusion: The findings revealed that financial statement analysis, data mining and digital analysis, fraud investigation, and transaction tracing have significant effects on money laundering detection in listed commercial banks in Nigeria. The study concluded that forensic accounting techniques significantly improve the detection and prevention of money laundering activities in the Nigerian banking sector. Implication of Findings: The study implies that the adoption of advanced forensic accounting practices enhances financial transparency, strengthens internal control systems, and improves the ability of banks to detect suspicious financial transactions and financial crimes.
Copyright (c) 2026 Paul Ogar, Sunday A Effiong, Haruna Sezuo Adamu https://creativecommons.org/licenses/by-nc/4.0
Blockchain Accounting and Financial Performance of Nigeria Banking Sector from 2014-2023
Purpose: This study examined the effect of blockchain accounting on the financial performance of Nigerian deposit money banks between 2014 and 2023. Specifically, the study investigated the effect of blockchain accounting on return on assets, return on equity, operational efficiency, and transparency in financial reporting. Methodology: The study adopted an ex-post facto research design using secondary data obtained from the annual reports and audited financial statements of the 23 licensed deposit money banks in Nigeria. Data covering the period 2014–2023 were analyzed using descriptive statistics and simple linear regression analysis with the aid of SPSS Version 27. Results and conclusion: The findings revealed that blockchain accounting has a significant positive effect on financial performance, operational efficiency, and transparency in financial reporting within the Nigerian banking sector. The study concluded that blockchain accounting improves profitability, strengthens operational processes, enhances transaction verification, and promotes reliable financial reporting systems among Nigerian deposit money banks. Implication of findings: The findings imply that the adoption of blockchain accounting can strengthen financial reporting quality, improve operational performance, reduce accounting irregularities, and enhance stakeholder confidence in the Nigerian banking sector.
Copyright (c) 2026 Moses Wisdom Inaku, Sunday A Effiong https://creativecommons.org/licenses/by-nc/4.0
Greenwashing Practices and the Going Concern of Listed Manufacturing Firms: Evidence From 2013–2023
Purpose: This study examined the effect of greenwashing practices on the going concern of listed manufacturing firms from 2013–2023. Specifically, the study investigated the effect of misleading environmental disclosures on financial sustainability, the relationship between ESG reporting practices and operational continuity, and the influence of greenwashing practices on investor confidence and long-term survival of listed manufacturing firms. Methodology: The study adopted an ex-post facto research design. Secondary data were obtained from the audited annual reports and sustainability reports of selected listed manufacturing firms. A purposive sampling technique was employed to select 46 firms with complete data coverage during the study period. Data were analyzed using descriptive statistics and panel regression techniques. Results and Conclusion: The findings revealed that misleading environmental disclosures have a significant negative effect on the financial sustainability and going concern of listed manufacturing firms. The study also found that ESG reporting practices have a significant positive relationship with operational continuity, while greenwashing practices significantly reduce investor confidence and long-term corporate survival. The study concluded that persistent greenwashing practices weaken stakeholder trust, threaten corporate sustainability, and adversely affect firms’ going concern status. Implication of Findings: The study implies that manufacturing firms should adopt transparent and credible environmental reporting practices to enhance investor confidence, improve operational sustainability, and strengthen long-term corporate survival. Regulatory agencies should also strengthen monitoring and enforcement mechanisms against deceptive sustainability disclosures.
Copyright (c) 2026 Regina Jaka Reubenogar Abang, Sunday A Effiong, Abang Ogar Reuben https://creativecommons.org/licenses/by-nc/4.0
Tax Reforms Burden and Human Development Index in Nigeria
Purpose: This study investigates the effect of tax reform burden on human development index in Nigeria. Methodology: The study used the Autoregressive Distributed Lag (ARDL) estimation technique to establish the long run effect of tax reform burden on human development index in Nigeria from 2005 to 2024 Tax reform burden is captured using the ratio of tax revenue to gross domestic product. Results and conclusion: The study revealed that long run relationship exists among the variables in the estimated model. The results of the Error Correction Mechanism (ECM) showed that tax reform burden has negative and significant effect on human development index in Nigeria. It was further revealed that disposable income, aggregate household consumption expenditure and investment have positive and significant effects on human development index in Nigeria. Hence, it was concluded that effective and balanced tax reforms in Nigeria have the potential to enhance revenue collection, which can support investments in health, education and social services, thereby improving human development. Implication of findings: The study reveals the nexus between tax reform burden and human development index suggesting that tax administration should be strengthened in order to achieve and harmonise tax reforms through the broadening of tax bases to improve compliance and support sustainable development. The government should streamline the tax system so as to reduce issue around tax evasion, hence widen the tax net.
Copyright (c) 2026 Glory Davies, Sunday A. Effiong, Francis Ubi Ntum https://creativecommons.org/licenses/by-nc/4.0
Financial derivatives usage and financial performance of listed non-financial firms in Nigeria
Purpose: Firm performance remains a fundamental indicator of economic stability and corporate sustainability, particularly within emerging economies where firms operate under volatile macroeconomic conditions. Meanwhile, the adoption of financial derivatives as risk management instruments has gained increasing attention as firms seek strategies to stabilize earnings and enhance financial outcomes. Hence, this study examined the effect of financial derivatives usage on financial performance of listed non-financial firms in Nigeria. Methodology: The study adopted an ex-post facto research design and relied on secondary data obtained from annual reports and disclosures of firms listed on the Nigerian Exchange Group (NGX) covering the period 2015–2024. The population consisted of 104 listed non-financial firms, from which a sample of 83 firms was selected using a multi-stage sampling technique, giving 830 firm-year observations. Panel regression analysis, particularly the fixed-effect model, was employed for data analysis after conducting relevant diagnostic tests. Results: The findings revealed that foreign exchange derivatives, forward contracts, and option contracts exert a positive and statistically significant influence on firms’ financial performance, while interest rate derivatives showed a positive but statistically insignificant impact. Conclusion: The study therefore concludes that financial derivatives serve as important risk management tools capable of improving the profitability of listed non-financial firms when effectively utilized. Policy implication: the finding implies that firms should adopt an integrated financial risk management approach by strategically utilising foreign exchange derivatives, forward contracts, and option contracts to manage currency risk, stabilise cash flows, reduce transaction uncertainty, and enhance overall listed non-financial firms’ financial performance in Nigeria’s volatile economic environment.
Copyright (c) 2026 Lukman Adebayo-Oke Abdulrauf, Rukayat Mojoyinola Gobir, Yusuf Olamilekan Quadri https://creativecommons.org/licenses/by-nc/4.0
Fiscal federalism and economic development of Akwa Ibom State, Nigeria
Purpose: This study examined the relationship between fiscal federalism and economic development in Akwa Ibom State, Nigeria, from 2015 to 2024. Specifically, it assessed the effects of statutory allocation, internally generated revenue (IGR), 13% derivation funds, value added tax (VAT) allocation, and excess crude account (ECA) distributions on human development outcomes. Methodology: The study adopted an ex-post facto research design and utilized secondary data obtained from the National Bureau of Statistics (NBS), Akwa Ibom State Budget Office, Federal Account Allocation Committee (FAAC), and the United Nations Development Programme (UNDP). Human Development Index (HDI) was used as a proxy for economic development, while fiscal federalism was measured using statutory allocation, IGR, derivation allocation, VAT allocation, and ECA allocation. Data were analyzed using descriptive statistics and multiple linear regression techniques. Results and Conclusion: The findings revealed that fiscal federalism significantly explained variations in HDI, with an R² value of 0.990 and an F-statistic of 73.17 (p < 0.05). Internally Generated Revenue (IGR) exhibited the strongest positive influence on HDI, while statutory allocation, derivation funds, VAT allocation, and ECA allocation showed insignificant effects. The study concludes that fiscal federalism alone does not guarantee sustainable economic development; rather, effective fiscal management and revenue diversification are critical for improving human development outcomes. Implication of Findings: The findings imply that excessive dependence on federal allocations may limit development gains, whereas strengthening internally generated revenue and improving fiscal accountability can enhance sustainable human development in Akwa Ibom State.
Copyright (c) 2026 Elijah Edeheudim Essien, Sunday A. Effiong, Okon Ikpe Eyibio https://creativecommons.org/licenses/by-nc/4.0
Board size and board independence as determinants of financial statement fraud prevention in Nigerian deposit money banks
Purpose: This study examined board size and board independence as determinants of financial statement fraud prevention in Nigerian deposit money banks. The objective was to investigate how board size and board independence influence the prevention of financial statement fraud. Methodology: The study employed a quantitative research design using secondary data obtained from the annual reports of twelve listed deposit money banks in Nigeria covering a ten-year period from 2014 to 2023. The data were analysed using descriptive statistics, correlation analysis, and panel regression techniques based on a fixed-effect model. Results and conclusion: The findings revealed that both board size and board independence had significant positive effects on financial statement fraud prevention. These results suggested that larger boards and a higher proportion of independent directors enhanced oversight capacity and reduced the incidence of fraudulent reporting. The study concluded that strong board governance mechanisms promote transparency and integrity in financial reporting. Implication of findings: The findings imply that banks and regulatory authorities should prioritize maintaining optimally sized and independent boards to strengthen fraud prevention frameworks. This may lead to more effective monitoring, reduced financial misstatements, and improved stakeholder confidence in the Nigerian banking sector.
Copyright (c) 2026 Theresa Iember Atser, J. F. Adebisi, Anipiriworima Ngerebo-a Tamunonimim https://creativecommons.org/licenses/by-nc/4.0