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Browsing by Author "Yusuf Olamilekan Quadri"

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Agent Banking, Mobile Money Operation and Financial Inclusion in Nigeria: Supply Side Perspective
(The International Journal of Applied Business, 2024-04-01) Yusuf Olamilekan Quadri; Kudirat Mopelola Malik-Abdulmajeed; Ayorinde Olutimi Akinwumi; Ifedolapo Oluwasolape Omotosho
Background: The inability to achieve optimum financial inclusion in Nigeria has necessitated the review of various policies and instruments meant to reduce the level of financial exclusion. Objective: Hence this study investigates the impact of agent banking and mobile money operation on financial inclusion in Nigeria, focusing on the supply side. Method: Descriptive research design was adopted and secondary data ranging from 2013 to 2021 were obtained from the World Bank Global Financial database and e-payment statistics of the Central Bank of Nigeria. Ordinary least squares repression was used to analyse the data. Results: Findings revealed that at 5% significance level, point-of-sale and mobile money operations have a positive impact on financial inclusion while web/internet banking plays a limited role in achieving financial inclusion. Conclusion: The study concluded that both agent banking and mobile money operations impact on financial inclusion in Nigeria; the study, therefore, recommends that more off-site automated teller machine and licensed agents should be encouraged to cater for the rural residents and ultimately improve financial inclusion.
An Empirical Analsis of Corporate Capital Structure and Financial Perforance of Listed Congloerates in Nigeria
(Copernican Journal of Finance & Accounting, 2019) Lukman Adebayo Oke; Daud Omotosho Saheed; Yusuf Olamilekan Quadri
The relationship between capital structure and firms’ financial performance has attracted the attention of many researchers both locally and globally. The paucity of empirical evidence from Nigeria in this regard, especially on Nigerian conglomerate firms, portends the need for further research. Against this backdrop, the study investigated the impact of capital structure on the financial performance of listed conglomerates in Nigerian using descriptive statistics, pairwise correlation and panel data regression technique to analyze the secondary data extracted from the annual reports and accounts of the six (6) selected conglomerates for the period 2008 to 2017. The study found that financial leverage proxy by total debt ratio, long-term debt ratio and short-term debt ratio have significant impact on the selected firms’ financial performance proxy by return on assets, except debt to equity ratio that reveals an insignificant impact on return assets (ROA). Firm size and growth also reported a significant effect on the financial performance of the selected firms. The findings is in tandem with the proposition of the agency cost theory in the Nigeria settings but with caution considering the facts that firms in Nigeria were largely finance through short term debt obligation as against long term debt funding that was presumed in the agency cost theoretical proposition. It is therefore recommended that managers of companies should be guided when seeking credit advances from the financial market as it is important when considering the appropriate capital mix that optimize firm value
Bank Specific Factors and Loan Repayments Culture of Credit Takers of Microfinance Banks in Kwara State
(Bayero University Journal of Finance, 2024-06-30) Lukman Adebayo-Oke Abdulrauf; Yusuf Olamilekan Quadri; Ismail Jimoh; Sikiru Abdullahi Safura
The loan repayment culture in instrumental to the sustainability and effectiveness of the microfinance banks but overtime, the microfinance banks in Nigeria have been recording high default rates and over-indebtedness from the loans disbursed to credit takers at various categories. Hence, this study investigates the effect of bank specific factors on the loan repayment culture of the credit takers of microfinance banks in Kwara State. Primary data was collected from the loan officers, account officers and marketers of the 33 microfinance banks in Kwara State as at 2023 and multi-stage sampling technique was utilized in selecting appropriate sample size of 160 staff of microfinance banks across all the 3 senatorial districts in Kwara State. OLS regression model was used to analyze the model and the study found that bank specific factors such as funding adequacy, interest rate, credit appraisal process and loan tenure do not impact on the repayment culture of the credit takers of microfinance banks in Kwara State. However, the distance to MFBs appears to be significant indicating the credit takers feel less committed to the repayment of loan due to the distance of the MFBs. This study recommends that microfinance banks should ensure proximity to the credit takers for effective monitoring and loan utilization.
Bank Specific Factors and Loan Repayments Culture of Credit Takers of Microfinance Banks in Kwara State
(Bayero University Journal of Finance, 2024) Lukman Adebayo-Oke Abdulrauf; Yusuf Olamilekan Quadri; Ismail Jimoh; Sikiru Abdullahi Safura
The loan repayment culture in instrumental to the sustainability and effectiveness of the microfinance banks but overtime, the microfinance banks in Nigeria have been recording high default rates and over-indebtedness from the loans disbursed to credit takers at various categories. Hence, this study investigates the effect of bank specific factors on the loan repayment culture of the credit takers of microfinance banks in Kwara State. Primary data was collected from the loan officers, account officers and marketers of the 33 microfinance banks in Kwara State as at 2023 and multi-stage sampling technique was utilized in selecting appropriate sample size of 160 staff of microfinance banks across all the 3 senatorial districts in Kwara State. OLS regression model was used to analyze the model and the study found that bank specific factors such as funding adequacy, interest rate, credit appraisal process and loan tenure do not impact on the repayment culture of the credit takers of microfinance banks in Kwara State. However, the distance to MFBs appears to be significant indicating the credit takers feel less committed to the repayment of loan due to the distance of the MFBs. This study recommends that microfinance banks should ensure proximity to the credit takers for effective monitoring and loan utilization.
BANKING SERVICE INNOVATIONS AND CUSTOMER SATISFACTION IN ILORIN METROPOLIS OF NIGERIA
(MALETE JOURNAL OF ACCOUNTING AND FINANCE, 2022) Lukman Adebayo Oke Abdulrauf (PhD); Emmanuel Semilore Tinuoye; Yusuf Olamilekan Quadri; Fatai Akosile (PhD)
The increasing stiff competition in the banking industry has placed customer satisfaction at the centre of banks’ product and service decisions. The study examines the impact of banking service innovations on customer satisfaction in Ilorin metropolis. The study employed survey research design and the population consist of bank customers in Ilorin metropolis from which four hundred and twenty five (425) customers were drawn as sample. Descriptive statistics and Partial Least Square Structural Equation Model (PLSSEM) were employed in the analysis of data collected through structured questionnaire. The findings revealed that, cardless ATM service (t-value = 5.650, p-value = 0.000) and phygital banking (t-value = 6.175 and p-value = 0.000) have significant impact on customers satisfaction at 5% level of significance whereas envelop deposit service had no significant effect. The study concluded that banking service innovations such as cardless ATM and phygital banking are the service innovations that influence customer satisfaction in Ilorin metropolis. The study therefore recommended that managements of DMBs should provide more ATMs with cardless operation options at bank premises or other commercial points in the metropolis. Also, DMBs’ management should design more user friendly, personalised and less costly digital bank applications which can enable customers to efficiently access virtually all bank services even without visiting any branch.
Board Characteristics, Asset Quality and Financial Performance of Deposit Money Bank
(Copernican Journal of Finance & Accounting, 2023-12-22) Yusuf Olamilekan Quadri; Ifedolapo Oluwasolape Omotosho; Daud Omotosho Saheed; Babatunde Abdullah Adio
This study evaluates how the board composition and asset quality of Nigerian deposit money banks affected their financial performance. The study used a sample size of 20 out of 33 deposit money banks and an ex-post facto research design. Panel least square regression techniques were then used to assess the secondary data gathered from the audited financial records of the participating deposit financial institutions for the years 2014 to 2021. The study found that while asset quality has a negative impact on the performance of Nigerian banks, the size of the board and the makeup of the credit committee have a beneficial impact. As a result, the study came to the conclusion that board qualities and asset quality are two further elements that affect deposit money bank performance in Nigeria. In order to ensure that its members are appropriately diverse and in compliance with the Corporate Governance Code, the study proposed that the size of deposit money institutions’ boards be rationalized. In order to guarantee that banks are not exposed to excessive risk, it was also advised that the Central Bank of Nigeria should keep an eye on the operations of the credit committee.
CAPITAL STRUCTURE AND FINANCIAL PERFORMANCE: EVIDENCE FROM NIGERIAN LISTED INDIGENOUS OIL AND GAS FIRMS
(MALETE JOURNAL OF ACCOUNTING AND FINANCE, 2019-12-23) ARIKEWUYO, Abubakar Ajide; Babatunde Abdullahi Adio; Yusuf Olamilekan Quadri
The combination of equity capital and debt capital forms the capital structure of an enterprise which in achieving firms’ objective is the utmost aspect of managerial and financial decisions. It has the ability of manipulating the operating, non-financial and financial performances of a firm as well as risk exposure due to returns payable to the provider of capital in the form of interest and dividend. Hence, this study takes a look at how the capital structure impacts on the financial performance of listedindigenous oil and gas firms in Nigeria. The study adopted an ex-post facto research design and data was extracted from annual reports of the eight (8) sampled firms for periods of 2009 to 2018. The data was analyzed using panel data regression technique to examine the extent of the impact of the independent variables on the dependent variables. The study revealed that at 0.05 significant level, Short-term Debt (STD) and Equity (EQ) have a positive and significant impact on the financial performance of listed oil and gas firms in Nigeria in terms of Return on Assets (ROA) and Return on Equity (ROE) while Long-term Debt (LTD) had a negative significant impact on the financial performance in terms of Return on Assets (ROA) and Return on Equity (ROE) of listedindigenous oil and gas firms in Nigeria. Thus, the study concluded that capital structure has a positive impact on the financial performance of listed indigenous oil and gas firms in Nigeria. Therefore the study recommended that indigenous oil and gas firms in Nigeria should adopt a short term capital for short term financing to avoid the problem of over-capitalization, which will, in turn, lead to drop in the financial performance and a long term debt should be used to implement the capital projects to avoid the problem of over-trading by oil and gas firms in Nigeria because long term debt contribute less to financial performance.
Dividend Policy and Share Price Volatiliy
(Journal of Accounting and Management, 2019) Lukman Adebayo Oke; Daud Omotosho Saheed; Yusuf Olamilekan Quadri
In spite of long periods of empirical research, the connection between corporate dividend policy and share price volatility remains disputable among scholars and researchers. Circumstantial to this, the study investigates the relationship between corporate dividend policy and share price volatility of listed conglomerates in Nigeria. The study adopted descriptive statistics, pairwise correlation and panel data regression technique to analyze the data collected from audited financial reports of listed conglomerates for a period of 10 years (2009 – 2018). The study revealed that dividend yield has a negative impact on share price volatility and dividend payout ratio has a negative influence on share price volatility. Consequently, the study concluded that corporate dividend policy plays a significant role in the Nigerian listed conglomerates’ share price volatility. The investigation recommends that listed conglomerates firms should devise a dividend policy that takes cognizance of the existing and prospecting investors.
Government Accountability and Tax Compliance: The Nigeria Experience
(Department of Accounting and Finance, Kwara State University, Malete, 2019) Lukman Adebayo Oke; Yusuf Olamilekan Quadri
Governments across the world are expected to bring real growth, development and good governance to their citizenry using different robust economic policies. One among the measures used is by ensuring that capital expenditure outweigh the recurrent expenditure. Financing government expenditure is typically tasking and a prominent opportunity available to the government in generating revenue is through taxes. Taxation is a major source of government revenue, however, not every national government are ready to effectively exploit this great opportunity of revenue generation. This may be attributed to variety of reasons among which are the system of taxation; tax legislation; tax administration and policy issues; over reliance on other sources of revenue (such as aid and grants); corrupt practices within the system – especially because it relates to the system of collection and behavior of citizens towards tax payment; and ease of tax payment. The willingness to pay tax, which can depend upon the aforementioned issues in tax-revenue generation, remains a key taxation-challenge everywhere in the world. Accountability represents the very fact of being answerable and responsible; government accountability is one among the foundations of excellent governance and economic growth because it takes the shape of social welfare services provision. Government accountability is additionally seen as the anticipations of citizens that the revenue generated from taxes will be used for the advancement of the overall public. Tax revenue has been having hiccups and all boiled down to its level of compliance. Adeniji and Jegede (2019) opined that voluntary tax compliance is a mirage in Nigeria; yet a feat that the government has been seeking to achieve for many years. Most taxpayers believe that the taxes collected are largely misappropriated because the government is perceived, in most quarters to be unscrupulous and insensitive to the requirements of the people. As a result, taxpayers engage in tax minimization schemes (tax avoidance) and/or outright evasion or are reluctant to perform their civic duty of voluntarily paying their taxes as they hold the view that such monies will either be spent recklessly or find yourself in individual pockets. In spite of this, the government expects that its citizens are going to be fully compliance with the prevailing tax laws, to enable it earn a part of the required revenue to supply and maintain the essential social services for its citizenry but people deliberately do not intend to pay tax for a myriad of reasons, the central of which is that the incontrovertible fact that they have lost trust in the government. Accountability and Transparency of the government by the masses are a serious source of concern hence the masses see non-compliance option as a bail out. The peoples’ willingness is greatly influenced by their perception of the government’s delivery (Akintoye & Tashie, 2013). Consequently, due to non-compliance of the potential tax payers, the role of taxes in enhancing the revenue base of nations of the world will be undermined. This may result in a negative effect on the GDP and hence retardation to economic growth and development. This study therefore seeks to work out the extent of relationship between government accountability, tax compliance and economic growth from Nigerian perspective.
INFLUENCE OF FIRM CHARACTERISTICS ON LOAN APPROVAL FOR SMEs IN NORTH CENTRAL NIGERIA: BANKERS’ PERCEPTION
(MALETE JOURNAL OF ACCOUNTING AND FINANCE, 2020-06-27) Lukman Adebayo Oke; Yusuf Olamilekan Quadri; Daud Omotosho Saheed
The scourge of paucity of finance to SMEs which has been undermining their potential as drivers of economic growth has been blamed partly on firm related characteristics. However, the fact that little has been done in this regard from the supply side (banks) spurs this research. This study investigates the influence of firm specific characteristics on loan approval for SMEs in North Central Nigeria. Data was drawn from the primary source through the use of questionnaires to elicit responses from the sampled bank loan officers in the study area. A sample of 207 was drawn from the volunteer loan officers in 448 branches using multistage sampling technique. Descriptive statistics and Kruskal Wallis H were employed in analyzing the data. The study found that all the identified firm characteristics (size, age, incorporation, industry, financial information, location and collateral), which are all significant at 0.01 but with varying degrees, are the factors influencing banks’ credit approval for SMEs in the North Central Nigeria. The study concluded that while banks attach greater importance to firm size, firm age and location in their loan decision for SMEs, they also give consideration though lesser, to other factors. The study thus recommended among others, the need for SMEs to synergize and borrow as consortium rather than as individual units. This will facilitate improved financial access and economies of scale in terms of relatively reduced loan costs. Similarly, SMEs should also consider setting up urban offices to achieve close proximity to their banks for better financial access.
INFLUENCE OF FIRM CHARACTERISTICS ON LOAN APPROVAL FOR SMEs IN NORTH CENTRAL NIGERIA: BANKERS’ PERCEPTION
(MALETE JOURNAL OF ACCOUNTING AND FINANCE, 2020) Lukman Adebayo Oke; Yusuf Olamilekan Quadri; Daud Omotosho Saheed
The scourge of paucity of finance to SMEs which has been undermining their potential as drivers of economic growth has been blamed partly on firm related characteristics. However, the fact that little has been done in this regard from the supply side (banks) spurs this research. This study investigates the influence of firm specific characteristics on loan approval for SMEs in North Central Nigeria. Data was drawn from the primary source through the use of questionnaires to elicit responses from the sampled bank loan officers in the study area. A sample of 207 was drawn from the volunteer loan officers in 448 branches using multistage sampling technique. Descriptive statistics and Kruskal Wallis H were employed in analyzing the data. The study found that all the identified firm characteristics (size, age, incorporation, industry, financial information, location and collateral), which are all significant at 0.01 but with varying degrees, are the factors influencing banks’ credit approval for SMEs in the North Central Nigeria. The study concluded that while banks attach greater importance to firm size, firm age and location in their loan decision for SMEs, they also give consideration though lesser, to other factors. The study thus recommended among others, the need for SMEs to synergize and borrow as consortium rather than as individual units. This will facilitate improved financial access and economies of scale in terms of relatively reduced loan costs. Similarly, SMEs should also consider setting up urban offices to achieve close proximity to their banks for better financial access.
Microfinance Banks and Development of Small and Medium Scale Enterprises in Kwara State: Demand side’s Perception.
(Journal of Accounting and Management, 2019) Lukman Adebayo Oke; Yusuf Olamilekan Quadri; Daud Omotosho Saheed; Makinde Kehinde Alao
Limited access to finance by SME operators has been a major hindrance to the development of SMEs in Nigeria. This necessitated frantic efforts by government at all levels to remove this blockade including Kwara State. Hence, this study investigates the impact of Microfinance Banks on the development of Small and Medium Scale Enterprises in Kwara State. Primary data were collected through a self-structured questionnaire that was developed and administered to 195 SMEs operators in Kwara State. The data were analysed using descriptive statistics, correlation, and multiple regression. The empirical analyses showed that, at 5% significance level, there is a strong positive relationship between timely access to finance and SMEs development, deposit mobilisation has a significant positive impact on SMEs development, and non-financial services of Microfinance Banks have a significant positive effect on SMEs development. The study, therefore, recommends that Microfinance Banks should ensure timely access to loans by SMEs operators to embark on profitable and value-added investment projects. The study also recommends that Microfinance Banks should improve their deposit mobilisation to enhance their liquidity and in-turn boost their capacity to grant loans to SMEs operators which will increase their profitability.
MORTGAGE FINANCE, MACROECONOMIC FACTORS AND HOUSING DEVELOPMENT IN NIGERIA
(Journal of Economics and Allied Research, 2025) SHERIFF AKANJI IBRAHIM; Lukman Adebayo-Oke Abdulrauf; Yusuf Olamilekan Quadri
Despite the critical role of housing as a component of economic growth and social stability, literatures has shown that housing development in Nigeria can be constrained by lack of longterm financing, as well as macroeconomic factors. This study examines the intricate relationships between mortgage finance, housing development and the interactive effect of macroeconomic factors in Nigeria. This research employs data on housing delivery, mortgage finance and macroeconomic factors, sourced from the Central Bank of Nigeria (CBN) statistical bulletin and Federal Mortgage Bank of Nigeria (FMBN) annual audited report between 2005 to 2022. The research adopt an expos factor and experimental descriptive design. Pre-estimation test such as unit root test and Bound test were employed to test for stationarity and cointegration. Empirical analysis was conducted using the Autoregressive Distributed Lag (ARDL) model. Findings from this study revealed that mortgage loan interaction variable have a very weak positive effect on housing delivery in the long run, with a coefficient of 0.005230 (p-value; 0.0005), mortgage equity’s negative effect was also reduced in the long run, with a coefficient of -0.001611 (p-value; 0.0268). Mortgage interest rate was also found to have a reduced negative effect on housing delivery in the long run, with a coefficient of -0.005316 (pvalue; 0.0003). The research concludes that macroeconomic factors’ interaction with mortgage finance negatively affects changes in housing delivery. Consequently, the research recommends that policymakers implement holistic measures to stabilize the economy, while incentivizing mortgage lending to guarantees access to adequate and affordable housing for Nigeria’s growing population.
WORKING CAPITAL MANAGEMENT AND FIRMS' PROFITABILTY: EVIDENCE FROM CONSUMER GOODS SECTOR IN NIGERIA (2011-2018)
(Gombe Journal of Administration and Management, 2019) Lukman Adebayo Oke; Yusuf Olamilekan Quadri; Daud Omotosho Saheed; Makinde Kehinde Alao
Firms’ profitability is maximized as a result of efficiency and interrelationship between some factors. However, from all these factors, working capital is crucial as it affects daily operational activities of firms. This study investigates the impact of working capital management on profitability of firms in the consumer goods sector in Nigeria. Generalised least square technique was used to analyse the data extracted from the audited financial statements of the sampled firms for the period of 2011 to 2018. The study revealed that at 0.05 level of significance, average collection period has a significant positive impact on the profitability of consumer goods firm; inventory holding period has no significant impact on profitability of consumer goods firms; average payment period has significant positive impact on profitability of consumer goods firms; and cash conversion cycle has significant negative impact on the profitability of consumer goods firms. The study concluded that working capital management plays a significant role in the profitability of consumer goods firms in Nigeria. The study therefore recommended that firms should negotiate favourable credit terms with both their customers and suppliers while at the same time, reduce their cash conversion cycle for improved profitability.
ZAKAT AND WAQF: DEVELOPMENTAL ROLE OF MODERN APPROACHES TO ISLAMIC PHILANTHROPY AND ENDOWMENTS
(Sukuk and Waqf Society, USA, 2025-01) Abdulazeez Olamide Abdulquadri; Yusuf Olamilekan Quadri
The growing complexity of contemporary social issues, including poverty alleviation, environmental sustainability, and educational development, highlights the need for a modernized approach to traditional Islamic philanthropic practices such as Zakat and Waqf. The advent of digital technologies, coupled with evolving financial systems, presents an opportunity to enhance these practices' effectiveness and reach. This study explores modern approaches to Zakat and Waqf, two cornerstone practices of Islamic philanthropy, in the context of contemporary societal needs. This research investigates recent innovations in these practices, including digital platforms, strategic fund allocation, and integration into modern financial systems. A systematic literature review of 11 verifiable studies published between 2015 and 2024 revealed that advancements such as the use of blockchain technology for Zakat transactions, online cash Waqf platforms, and corporate Waqf models. The impact of these innovations on community development and social responsibility is analyzed, revealing their potential to address modern challenges effectively. Adapting traditional Islamic philanthropic practices through modern approaches can enhance their effectiveness in addressing contemporary social issues. Policy recommendations are provided to guide the development and implementation of these innovations, ensuring that Zakat and Waqf continue to contribute significantly to community welfare and social responsibility.

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