FUDMA Journal of Accounting and Finance Research [FUJAFR]
FUDMA Journal of Accounting and Finance Research [FUJAFR]—ISSN: 2992-4693 (online); 2992-2704 (print)—is a scholarly double-blind peer review quarterly journal 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. Indexing/Open Access FUJAFR is indexed in CrossRef, Google Scholar, Research-Gate, Asian Science Citation Index (ASCI-Database), and Dimensions Index Copernicus International. It is an open-access journal. Coverage Financial Accounting & Reporting; International Accounting & Financial Reporting; Management & Cost Accounting; Taxation; Auditing, Forensic & Investigative Accounting; Accounting Information Systems; Accounting Education; Environmental & Social Accounting; Sustainability Reporting; Public Sector Accounting; Corporate Governance; Ethical Issues in Accounting & Financial Reporting; Corporate Finance; Investment Banking; Islamic Finance, Governance & Accounting; Financial Economics & Econometrics; Capital Markets in Emerging Economies. Submission of Manuscripts FUJAFR does not accept manuscripts via electronic mail. Authors are expected to register as users on the journal's website or click the “submissions” button on the main menu in the home page to submit their articles. Note that authors using mobile telecommunication networks to register or submit manuscripts should opt for Globalcom or Airtel networks in order to have a hitch-free interface with the journal's website. Publication Charges Non-Refundable Review Fee: NGN7,000.00 (US$7.00); Publication Fee (Online & Print): NGN30,000.00 (US$30.00). This applies to manuscripts of at most 20 pages. Pages above 20 attract a fee of NGN2,000.00 (US$2.00) each. Bank Account Details Bank Account Number: 1026169726; Bank Account Name: FUDMA Journal of Accounting and Finance Research; Bank: United Bank for Africa (UBA).
Department of Accounting, Faculty of Management Sciences, Federal University Dutsin-Ma, Katsina State, Nigeria.
Perception of infrastructural development and tax compliance among small and medium scale enterprises in Lagos state: The mediating role of taxpayers’ satisfaction with revenue utilization
Purpose: This study investigates how small and medium-sized enterprises (SMEs) in Lagos State, Nigeria, perceive infrastructural development and how these perceptions influence their tax compliance behaviour, using taxpayers’ satisfaction as a mediating variable. Methodology: The study used both secondary and primary sources to collect relevant data. The study adopted a survey research design. A total of 42,072 small and medium enterprise owners in Lagos State were the population, out of which a sample size of 400 was drawn. Four hundred (400) copies of the questionnaire were administered, and 364 were returned, while only 342 copies were usable. The data collected were analyzed using descriptive and inferential statistics. Three hypotheses were formulated and tested using regression analysis; Process Macro on SPSS was used to test the fourth hypothesis, testing the mediating effects of taxpayers’ satisfaction on the relationship between infrastructure development and tax compliance. Results and conclusion: Results show that infrastructural development significantly impacts taxpayers’ satisfaction with government spending and compliance with tax regulations. The study further revealed that taxpayers’ satisfaction plays a mediating role in the relationship between infrastructural development and tax compliance. Based on this finding, it is recommended that the Lagos State government should continue to enhance the provision and quality of infrastructure to improve taxpayers’ satisfaction and, in turn, foster greater compliance among residents. Implication of findings: The findings imply that the level of infrastructural development influences the satisfaction derivable by SME from government spending, and by extension, the relationship between infrastructural development and tax compliance.
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Agency banking and women employment in Auchi metropolis: evidence from POS operators
Purpose: This study examines the effect of agency banking, with particular emphasis on Point of Sale (POS) operations, on women’s employment generation in Auchi Metropolis, Nigeria. It aims to assess the relationship between POS businesses and women’s employment. However, study reexamined the relationship because it was discovered that the nature and existence of this possible relationship were inconsistent. Methodology: The study adopts a quantitative research approach, using primary data collected from a sample of 109 female POS operators in Auchi Metropolis. Data was analyzed using descriptive statistical techniques to evaluate employment outcomes for POS activities. Results and conclusion: The findings reveal that POS operations serve as a significant source of employment and income for women in Auchi Metropolis. Despite challenges such as security risks, network failures, and limited access to finance, agency banking has enhanced women’s economic participation and contributed to financial inclusion. The study concludes that POS businesses play a critical role in promoting women’s employment and livelihoods. Implication of findings: The study implies that policymakers, financial institutions, and regulators should implement targeted interventions—such as improved security measures, reliable network infrastructure, and accessible credit facilities—to strengthen and expand women’s participation in POS operations, thereby fostering inclusive employment and sustainable economic development.
Effect of responsibility accounting on financial and social performances of branch expansion of microfinance institutions in the CamCCUL network, Cameroon
Purpose: Microfinance Institution (MFI) branch expansion plays a critical role in enabling these institutions to achieve double bottom line objectives. However, this expansion strategy has introduced some management challenges pointing to responsibility accounting (RA). This study seeks to investigate the effect of RA on the financial and social performance of MFIs in the CamCCUL network, Cameroon. Methodology: The study adopted the quantitative research method using questionnaires to collect data from a sample of 86 MFIs selected through convenience and simple random techniques. Robust OLS regression was employed to analyse data. Results and conclusion: Results indicate that for financial performance, assigning responsibilities and delegating authority (ARDA), allocating costs and revenues for controllability (ACRC) and establishing performance measurement targets (EPMT) were statistically insignificant while performance evaluation (PE) and performance incentive systems (PIS) were statistically significant. On social performance, ACRC, EPMT and PIS were statistically insignificant, whereas ARDA and PE were statistically significant. The study concludes that MFIs should pay rigorous attention to RA principles and integrate them into their strategic plans to ensure that accountability and transparency drive overall institutional performance. The study recommends that, MFIs should conduct periodic performance appraisals and use results for cost allocation, decision-making and promotion; incentive systems should be tied to measurable performance results to motivate staff towards congruency. Implication of findings: The study has implications for policymakers to regulate and enforce RA implementation for business sustainability across all sectors and enable MFIs to enhance accountability and expansion complexity management as well as narrow the existing literature gap on RA in Cameroon.
Assessment of entrepreneurial innovation on sustainability of industrial leather clusters in Kano State
Purpose: Entrepreneurial innovation is a major contributor to the growth and sustainability of business enterprises, which in turn boosts the economy. It has also been acknowledged by scholars and professionals that entrepreneurial innovation is a driver of business survival and sustainability. Thus, the study examined the effect of entrepreneurial innovation on the sustainability of industrial leather clusters in Kofar Wambai, Kano State. Methodology: A cross-sectional survey design using primary data was adopted using a structured questionnaire. The unit of analysis is the artisans of industrial leather clusters in Kofar Wambai, Kano State. A simple random sampling technique was employed to select the sample size of eighty-six (86). To test the proposed hypothesis, the multiple regression analytical tool was employed. Results and conclusion: The result of the analysis revealed a positive and significant effect of the independent variable, entrepreneurial innovation (process and product innovativeness), on the sustainability of industrial leather clusters in Kofar Wambai, Kano State. Implication of findings: The study recommends artisans in Kofar Wambai adopt pursuing a concurrent, dual-focus innovation (process and product) strategy to maximize sustainability gain in Kofar Wambai industrial leather clusters of Kano state.
Does board size, audit firm tenure, and audit firm size affect audit quality of listed companies in Nigeria?
Purpose: The study examined the determinants of audit quality among listed oil and gas, agriculture, and natural resources firms in Nigeria by assessing the influence of board size, audit firm tenure, and audit firm size. The study was anchored on agency theory and resource dependency theory to explain how governance structures and auditor characteristics shape audit quality outcomes. Methodology: An ex-post facto research design was adopted, using secondary data obtained from all 19 listed firms of the sectors under study in Nigeria over a ten-year period (2014–2023). The dataset was analyzed using Panel Generalized Least Squares (PGLS) regression to determine the extent to which board size, audit firm tenure, and audit firm size impact audit quality. Results and Conclusion: The study shows that board size, audit firm tenure, and audit firm size each have positive and significant effects on audit quality. Larger boards enhance oversight, longer auditor–client relationships strengthen audit understanding, and larger audit firms provide superior expertise and resources. Overall, these factors are key determinants of audit quality in Nigeria’s oil and gas, agriculture, and natural resources sector. Implication of Findings: The findings suggest that stronger governance structures—through adequately sized boards, optimal auditor tenure, and the use of reputable audit firms—can significantly improve audit quality. These insights support policy and regulatory efforts aimed at enhancing the credibility of financial reporting in Nigeria’s primary goods sector.
The moderating effect of corporate governance on the relationship between entrepreneurial orientations and business performance of women owned enterprises in North-western States of Nigeria
Purpose: This study aimed to examine the moderating effect of corporate governance on the relationship between entrepreneurial orientation and business performance of women-owned enterprises in the northwestern states of Nigeria. However, the nature and existence of this potential relationship were found to be mixed, which prompted this study to re-examine the relationship. Methodology: The data were collected from a field survey of the women-owned enterprises in the northwestern region of Nigeria. A total of 222 questionnaires were returned, but only 210 were usable for data analysis from the target respondents, which consist of women owners/managers of businesses in the selected SMEs. This study employed the quantitative survey research approach and Partial Least Squares Structural Equation Modelling (PLS-SEM) algorithm and bootstrap techniques to test the hypotheses. Results and conclusion: Results obtained support the hypothesis on the direct influence of the entrepreneurial orientation and its proxies, such as innovativeness, competitive aggressiveness, autonomy and corporate governance, on business performance. Similar results regarding the moderating effects of corporate governance on the relationship between entrepreneurial orientation and business performance were also found. Interestingly, the findings indicated that corporate governance positively moderates the relationship between entrepreneurial orientation and business performance. Implication of findings: Finally, this study has succeeded in validating the aforementioned conceptualisation as well as advancing significant theoretical and practical contributions to the researchers, entrepreneurs and regulatory authorities for further understanding of the influence of entrepreneurial orientation and business performance.
Board characteristics and corporate risk disclosures among listed firms in Nigeria
Purpose: The study examined the effect of board characteristics on corporate risk disclosure (CRDI) among listed consumer goods firms in Nigeria from 2014 to 2023. Drawing on agency and legitimacy theories, the research investigates how board size, board independence, board nationality, and risk committee size influence risk disclosure practices. Methodology: The study adopts an ex post facto research design and utilizes secondary data from 18 purposively selected listed firms. Corporate risk disclosures were measured using a 21-item checklist, and panel regression analysis with the Generalized Least Squares (GLS) technique was employed to address potential econometric issues. Control variables included audit firm size and firm age. Results and Conclusion: Results indicate that board size and board nationality have no significant effect on CRDI, while board independence exhibits a negative and statistically significant impact. In contrast, risk committee size has a positive and significant relationship with corporate risk disclosure. Audit firm size and firm age also significantly influence disclosure levels. The study concludes that specialized governance structures, particularly effective risk committees, are key drivers of enhanced risk transparency, whereas the mere presence of larger boards or foreign directors does not guarantee improved disclosure. Implication of Findings: These findings imply that firms should prioritize board effectiveness over numerical size, enhance the integration and engagement of independent and foreign directors, and strengthen risk committees through appropriate resourcing and expertise. The study contributes to the literature on corporate governance and transparency by providing context-specific insights for regulators, corporate boards, and policymakers in emerging economies.
Monetary policy and the manufacturing sector in Nigeria
Purpose: This study investigates how Nigeria’s manufacturing sector responds to key monetary policy measures. Specifically, it examines the extent to which the treasury bill rate (TBR), prime lending rate (PLR), inflation rate (INF), and exchange rate (EXR) influence manufacturing sector output (MFO). Methodology: The study employed time series data obtained from the Central Bank of Nigeria (CBN) Statistical Bulletin covering 2010–2023. Preliminary econometric procedures, including unit root tests and the Johansen cointegration technique, were used to determine the stationarity status and long-run relationships among the variables. Based on these outcomes, an error-correction framework was estimated to capture short- and long-run dynamics between monetary policy indicators and manufacturing sector output. Results and conclusion: The findings reveal that monetary policy variables, specifically the exchange rate, treasury bill rate, inflation rate, and prime lending rate, do not exert a significant influence on Nigeria’s manufacturing output in either the medium or long run. The study concludes that the weak transmission of monetary policy to the real sector may stem from structural bottlenecks, policy inconsistencies, and an unfavourable operating environment that limit the responsiveness of manufacturers to monetary adjustments. Implication of findings: The study suggests the need for the government to strengthen the regulatory framework by streamlining procedures, reducing bureaucratic delays, and lowering compliance costs. Enhancing transparency and ensuring stable, predictable policy implementation will improve the operating climate for manufacturers and support better monetary policy transmission to the sector.
Forensic accounting litigation support and detection of public sector corruption in Nigeria
Purpose: The rise in financial fraud cases in Nigeria's public sector, attributed to the ineffectiveness of statutory audits in detecting and preventing such activities, has led to an increased demand for forensic accountants. This study investigates the effect of forensic accounting in the detection of public sector corruption in Nigeria with a focus on three antigraft agencies. Methodology: The study adopted a descriptive survey research design and collected data using a structured questionnaire. Using Taro Yamane's formula and a purposive sampling technique, four hundred and five (405) respondents of relevant staff of the antigraft agencies were selected for the study. The method of data analysis used was descriptive statistics and multiple linear regressions based on 386 questionnaires returned by the respondents. Results and conclusion: Findings of the study revealed that forensic accounting litigation support had a significant positive relationship with public sector corruption in Nigeria, indicating that the adoption of forensic accounting techniques is useful for detecting public sector corruption, and funds lost through bribery, embezzlement, accounting fraud, and financial malpractice can be recovered through the services of forensic accountants. Implication of findings: The study's findings suggest ways to enhance integrity, accountability, and financial governance in Nigeria, providing actionable insights for improved public sector practices and policies. The study recommends that special courts should be established to speed up the litigation process so that cases that are corruption-related in the Nigerian public sector do not linger for too long, as is the case in conventional courts.
The Accounting ratios and share price of quoted consumer goods firms in Nigeria
Purpose: This study examines the impact of accounting ratios on the stock prices of quoted consumer goods firms in Nigeria, providing insights for investors and stakeholders. The research uses financial reports of quoted consumer goods firms in Nigeria from 2013 to 2022, focusing on Dividend Per Share, Earnings Per Share, Returns on Assets, and Current Ratio. Methodology: An ex-post-facto design was adopted, utilizing secondary data obtained from 15 out of 21 quoted consumer goods firms from NGX over ten years (2013-2022), being a purposeful sampling technique representing 71.43% of the population. Balanced panel data regression analysis and descriptive statistics were employed. Results and conclusion: The findings show an R-squared value of 0.36, indicating that inflation, interest rates, earnings per share, current ratio, and return on assets account for approximately 36% of the variations in stock prices, while variables outside the model account for 64%. Implication of findings: The study highlights the importance of considering both internal and external factors when making investment decisions and suggests that investors should look beyond accounting ratios to understand stock price movements.
Effects of audit committee attributes and corporate board activity on earnings quality of quoted consumer goods companies in Nigeria
Purpose: The study examined the effect of audit committee attributes and corporate board activity on earnings quality of listed consumer goods companies. Also, the effect of pooled audit committee attributes using principal component analysis and board activity was examined on earnings quality. Methodology: The study population was twenty-four listed consumer goods companies, while a sample of seventeen firms was purposively selected. Secondary data obtained from annual reports of the sample firms was analysed using both random and fixed effects. Results and Conclusion: Results showed that the audit committee’s financial literacy and expertise in audit and accounting have a significant negative effect on earning quality, while other audit committee attributes showed insignificant effects. Also, board size and leverage have negative significant effects on earnings quality. Furthermore, the results of the pooled audit committee’s attributes show an insignificant positive effect on earnings quality, while board size and board meetings have a significant negative effect on earnings quality. The study concludes that audit committee members with financial literacy, board size, and frequency of audit committee meetings reduce management tendencies to manage earnings. Implication: The practical implication of the study’s findings is that members of the audit committee who are financially literate and the size of the audit committee members have the potential to dissuade management from opportunistic behaviour.
Corporate environmental disclosure and market value. Do board independence matter?
Purpose: This paper aims to examine the relationship between three measures of corporate environmental disclosure and market value using Nigerian non-financial listed companies. The paper also explores the effect of the moderating role of board independence. Methodology: We use DICTION software to obtain the measurements of environmental disclosure volume, general disclosure tone, and specific disclosure tone, as well as regression analysis using the GMM model to take care of endogeneity issues. Results and conclusion: The empirical studies revealed that general environmental disclosure and specific environmental disclosure have a positive and statistically significant impact on the Tobin’s Q. We document that board independence positively moderates the relationship between general and specific environmental disclosure on Tobin’s Q. We recommend that firms should focus on environmental responsibility reporting as a driver for better performance and value enhancement and that it will help to achieve SDG 12 as enshrined in the United Nations SDGs 2030 agenda. The paper considers only the environmental dimension of sustainability with the use of only non-financial listed Nigerian companies for twelve (12) years (2011-2022). Implication of findings: Management, investors, professionals, policymakers and authorities should consider the environmental disclosure requirements for proper informed decisions. The study tests the progress in achieving the sustainable development goals (SDG 12) as well as the role of the moderating variable of board independence in Nigerian listed non-financial firms.
Influence of stakeholder ecosystem on corporate environmental disclosure among non-financial firms in Lagos State, Nigeria
Purpose: In Nigeria, especially non-financial firms in Lagos State are involved in the inadequacy of waste management infrastructure, resulting in litter pollution and health issues for the immediate community. Thus, this study therefore investigated the influence of the stakeholder ecosystem through operational, primary, environmental advocacy and strategic stakeholders on corporate environmental disclosure among non-financial firms in Lagos State, Nigeria. Methodology: this study adopts survey research design, which centers on collecting data from sample size of 294 representing the entire non-financial firms’ Lagos state, Nigeria. Results and conclusion: the findings of the result conclude that operational stakeholders have a positive but not significant relationship with corporate environmental disclosures among non-financial firms in Lagos State, Nigeria. However, primary stakeholders, environmental advocacy stakeholders, and strategy stakeholders all have negative but insignificant relationships with corporate environmental disclosures among non-financial firms in Lagos State, Nigeria. Implication of findings: therefore, this study recommends that operational health and environmental protection should be integrated into the daily operations of non-financial firms in Lagos State, Nigeria. However, in Lagos State, Nigeria, non-financial firms should address the interest of shareholders in environmental reporting concerning long-term value and shareholder value through environmental sustainability. Additionally, the study also recommends that non-financial firms in Lagos State, Nigeria, should put their immediate needs first by offering corporate social responsibility and environmental cooperation. Lastly, managing directors of non-financial companies in Lagos State, Nigeria, ought to offer substantial financial support through environmental commitment in management relations with environmental waste management.
Impact of external debt on exchange rate in Nigeria
Purpose: This study investigates the impact of external debt on exchange rate movements in Nigeria from 1981 to 2023, assessing how external debt, debt servicing, and foreign reserves jointly influence exchange rate stability within the framework of the Keynesian Theory of Public Debt. Methodology: An ex-post facto research design and time series analytical approach were adopted, using secondary data sourced from the CBN Statistical Bulletin and the World Bank database. The Autoregressive Distributed Lag (ARDL) technique was applied to estimate both the short-run and long-run dynamics among the variables. The bounds test confirms a significant long-run relationship among the variables (F-statistic = 8.887 > 4.66 at 1% level). Results and conclusion: In the long run, external debt (LEXDT) and foreign reserves (LFORS) exert positive and statistically significant effects on the exchange rate, while debt servicing (LDBSV) exerts a negative but statistically insignificant effect. The error correction term (ECM = –0.2007) is negative and significant, indicating that about 20% of short-run deviations are corrected annually. With an R-squared of 0.994, the model explains over 99% of exchange rate variations. The study concludes that external debt and foreign reserves are major determinants of Nigeria’s exchange rate dynamics, whereas rising debt servicing worsens currency performance. Implication of findings: The findings imply that Nigeria must adopt a cautious but productive borrowing strategy, channel external loans into foreign-exchange-generating investments, strengthen debt management practices, build a robust foreign reserve base, and implement a balanced fiscal–monetary policy mix to enhance exchange rate stability and support sustainable macroeconomic growth.
Effect of external auditors’ attributes on financial reporting quality of listed insurance firms in Nigeria
Purpose: The need for greater attention to the activities of insurance firms, as bankruptcy would not just affect the shareholders, customers, and employees alone but the economy in general. This study assessed the effect of audit attributes on the financial reporting quality of listed insurance firms in Nigeria. Methodology: The sample of the study is 20 insurance firms listed in the Nigerian Exchange Group (NGX) out of the 23 insurance firms. The data for this study were secondary data sources, which were collected from published financial statements of the selected listed insurance firms for the period of 10 years, covering 2013-2022. Results and conclusion: The study found that audit independence has a negative and insignificant effect on financial reporting quality. Also, the study found that audit competence has a positive and significant effect on financial reporting quality. The study concluded that the competence of auditors shows a positive significant effect on financial reporting quality; this indicates that competence is one of the factors that influence financial reporting quality even when not supported by other factors to effectively enhance FRQ. Implication of findings: Based on the findings, the study recommended that regular training and certification programs should be organized for auditors to ensure they possess the necessary skills and knowledge, supported by strong regulatory oversight. Professional accounting bodies and regulators should collaborate to offer continuous professional development programs.
Microcredit and poverty reduction: the role of entrepreneurial self-efficacy: empirical evidence from Kano, Northwest Nigeria
Purpose: The African continent houses a greater percentage of the global poor. Despite the well-articulated Sustainable Development Goals (SDGs) the continent was projected to constitute the largest percentage of the world's poor by 2030. The level of Africa’s poverty may not be divorced from its financial exclusion, as more than 80 percent of African households are excluded from formal financial services. The unbanked poor are exploited by informal financial service providers who effectively turn their customers into victims due to unfavorable loan terms. The establishment of several financial intervention programs was directed towards protecting the poor from informal money lenders' inhumane exploitation that stifles the desire of the poor to engage in income-generating activities. Findings on the effectiveness of these intervention programs are inconsistent. The aim of this paper is to empirically investigate the influence of microcredit on poverty reduction in Kano State, Northwest, Nigeria, using Entrepreneurial Self-efficacy as a moderator. Methodology: To achieve this, a model was developed and empirically tested using responses elicited with a structured questionnaire administered to 400 respondents drawn from eight microfinance banks (MFBs) using stratified sampling techniques. Results and conclusion: The study found a positive association between microcredit and poverty reduction. Also, entrepreneurial self-efficacy moderates the relationship between microcredit and poverty reduction in the study area. The paper concluded that microcredit, though not a silver bullet, is a veritable tool for poverty reduction. Implication of findings: The paper recommended additional commitment from government and NGOs in areas of microcredit provision as a tool for poverty reduction.
Social disclosure practices and financial performance: evidence from non-financial firms in Nigeria
Purpose: Companies in developing nations, particularly Nigeria, have benefited financially at the expense of their workers by failing to meet their operational demands and properly disclosing this information in their annual reports. The aforementioned issues have caused public concern and awareness about the social issues of these firms. Thus, this study therefore investigates to what existence does social disclosure policy influence financial performance among selected non-financial firms in Nigeria and how does social community involvement influence financial performance among selected non-financial firm in Nigeria. Methodology: The study adopted an ex-post facto research design, drawing data from annual reports and financial statements of listed manufacturing firms over the ten-year period. Descriptive statistics, Pearson correlation analysis, and ordinary least squares (OLS) regression were employed to analyze the data. Results and conclusion: The finding of this study discovered that social disclosure policy and social community involvement have influence on financial performance among selected non-financial firms in Nigeria. Implication of findings: Accordingly, this study suggests that non-financial firms prioritize implementing a meaningful social disclosure strategy that considers the requirements of significant stakeholders, such as employee welfare, workplace safety, and community development. These initiatives must be quantified, documented, and publicly disseminated in order to be as beneficial and pertinent as feasible.
Effect of organized crime on institutional fraud risk management in Nigeria: evidence from Edo State Polytechnic, Usen, Edo State
Purpose: This study assesses the effect of organized crime on institutional fraud risk management in Nigeria. The study examined how organized crime prevention, detection, and protection strategies influence fraud management practices. Methodology: A total population of 594 staff and students was identified, from which 396 respondents were sampled using a stratified sampling technique, and 342 valid responses were analyzed. Data was collected through a structured Five-Point Likert Scale questionnaire and analyzed using SPSS. Results and Conclusion: The results showed a moderate-to-strong positive relationship (R = 0.613) between organized crime management strategies and fraud management, with R² = 0.576. Prevention had a positive and significant effect, detection had a negative but significant effect, while protection was positive but insignificant. The study concludes that strengthening preventive and detection measures is crucial for effective fraud control in Nigeria. Implication of findings: The implications of this research are significant for policymakers, institutional managers, and anti-fraud practitioners in Nigeria. The study recommends, amongst others, that corporate organisations should prioritise preventive measures over reactive responses to curb fraud effectively.
Digital banking tools and savings performance
Purpose: This study examines the impact of digital banking tools, specifically Point of Sale (POS) systems, Automated Teller Machines (ATMs), and mobile banking (MOB), on savings performance in Nigeria. The primary objective is to assess how the increasing adoption of these technologies influences savings mobilisation and overall financial inclusion within the Nigerian banking sector. Methodology: A quantitative research design was adopted, employing secondary time series data sourced from the Central Bank of Nigeria (CBN) from 2009 to 2023. Econometric techniques, including the Phillips-Perron unit root test and the Autoregressive Distributed Lag (ARDL) bound testing approach to cointegration, were used for data analysis to investigate both the short-run and long-run relationships between digital banking variables and savings performance. Results and Conclusion: The empirical findings indicate the existence of a long-run equilibrium relationship among the variables. Specifically, MOB and POS transactions exhibit a positive and statistically significant impact on savings performance. Conversely, ATMs display an insignificant relationship with savings performance. The study concludes that digital banking tools significantly enhance savings performance in Nigeria, particularly through MOB and POS platforms, which have helped bridge access gaps and simplified banking for the unbanked/underbanked populations. However, the potential of ATMs to stimulate savings remains underutilised. Implication of findings: Policymakers and financial institutions should strengthen and expand digital banking infrastructure, particularly in rural/underserved areas, to promote inclusive access to financial services. Furthermore, stabilising the macroeconomic environment and improving digital literacy will help build public trust in electronic banking channels, thereby improving national savings performance.
Effect of firm complexity on corporate report readability of NGX30 firms
Purpose: This study investigates the effect of firm complexity on the readability of the annual reports of the top 30 listed public firms by market capitalization in the Nigerian Exchange Group. Methodology: The study employs a random effects panel regression analysis on a sample of 178 firm-year observations covering the period of 2012 to 2023. Readability is measured using the Fog index of readability, and firm complexity is operationalized through the number of geographic segments, growth potential, firm size, and firm age. Results and Conclusion: Results from the analysis reveal that firms with a higher number of geographic segments and greater firm age exhibit a statistically significant relationship with a higher Fog index, indicating lower readability. In contrast, firms with higher growth potential and larger sizes are associated with significantly lower Fog index scores, suggesting that such firms produce more readable disclosures. These results lead to the conclusion that the effect of firm complexity on readability relies on the incentives to the firm. Implication of findings: The implication is that firm complexity shapes readability in ways that reflect direct reputation and growth benefits to the firm, with the adverse effects of complexity being mitigated when such benefits are present. As such, recommendations are made for the creation of policies that address low readability where firms are not inherently motivated to produce readable reports.