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- ItemINSTITUTIONAL FACTORS AND LOAN REPAYMENT CULTURE AMONG SMES CREDIT TAKERS OF MICROFINANCE BANKS IN KWARA STATE, NIGERIA(UMYU Journal of Accounting and Finance Research, 2025-06-30) Ismail Jimoh; Lukman Adebayo-Oke Abdulrauf; Yusuf Olamilekan QuadriThe sustainability and efficacy of microfinance banks are greatly aided by their culture of loan repayment; however, Nigerian microfinance banks have been dealing with high default rates and excessive debt from loans given to credit takers across various categories. Hence, this study investigates the effect of institutional factors on the loan repayment culture of the credit takers of microfinance banks in Kwara State. The study gathered primary data from loan officers, account officers and marketers of the 33 microfinance banks in Kwara State as of 2023. Using multi-stage sampling technique, 160 microfinance banks’ staff across the 3 senatorial districts in Kwara State were sampled. The study utilized robust OLS regression to evaluate the model, which confirmed that regulatory shortcomings along with operational inefficiencies and governance issues impact microfinance bank loan repayment practices among SMEs in Kwara State. However, the loan repayment culture of Kwara State microfinance banks’ credit takers is not affected by government policy. The study concluded that institutional factors influence the payment culture of microfinance bank borrowers in Kwara State. Hence, it was recommended that regulatory frameworks and stringent parameters be designed to eliminate operational inefficiencies and monitor credit disbursement and recovery.
- ItemEXCHANGE RATE FLUCTUATION AND FINANCIAL PERFORMANCE OF LISTED MANUFACTURING COMPANIES IN NIGERIA(Gusau Journal of Accounting and Finance, 2025-04-30) Yusuf Olamilekan QuadriThe havoc from continuous exchange rate fluctuation poses a sizeable threat to manufacturing companies especially those that utilize import-depended inputs in their production processes and consequentially affect their output and performance. Hence, this study evaluates the exchange rate fluctuation and financial performance of listed manufacturing companies in Nigeria. The study adopted a secondary source of data while descriptive statistics and regression analysis were used to analyze the data. The regression analysis result revealed that at a 5% (0.05) level of significance, all four proxies of exchange rate fluctuations are statistically significant to the financial performance of listed manufacturing companies in Nigeria. This led to the failure to accept any of the hypotheses raised to guide this study, with the conclusion that exchange rate fluctuation significantly affects the financial performance of listed manufacturing companies in Nigeria. Therefore, it was recommended that listed manufacturing companies should consider adopting robust foreign exchange risk management strategies ranging from hedging techniques, diversification of markets, and maintaining a clear understanding of their foreign exchange exposures.
- ItemClean Energy and Financial Development as Determinants of Sustainable Development in sub-Saharan Africa(De-centre: Journal of Interdisciplinary Studies (DJIS, 2025-09-02) Saidu MusaSub-Saharan Africa is prominently involved in a range of established policies and international initiatives aimed at advancing clean energy and financial development, which are pivotal for addressing environmental concerns, stimulating economic growth, and promoting sustainable investment. However, access to clean energy, insufficient political commitment, and a lack of clear policy guidance remain major issues. This study investigated the relationship between clean energy access, financial development, and sustainable development in sub-Saharan Africa, aiming to address critical research gaps. Financial Development exhibited a positive and significant relationship with gross domestic product per capita via analysis using panel data and employing panel Fully Modified Least Squares (FMOLS) regression, after determining that all the variables are stationary at I(1) except one, which is stationary at I(0). This suggests that a well-developed financial sector positively impacts economic growth by facilitating access to capital. Also, Renewable Energy Consumption demonstrated a negative association with gross domestic product per capita, possibly due to initial investment costs and technological constraints. The interaction effect between financial development and renewable energy also showed a negative impact on gross domestic product per capita, indicating a mitigating influence when both factors are considered together. Additionally, Trade Openness and Foreign Direct Investment exhibited notable impacts on gross domestic product per capita, with higher levels of trade openness and foreign direct investment potentially leading to lower economic growth. Based on the findings, the policy recommendations of this study are to strengthen the financial sector with efficient credit allocation, promote clean energy adoption despite challenges, mitigate trade openness impacts through diversification, and evaluate FDI for sustainable development alignment that enhances local benefits.
- ItemOWNERSHIP ATTRIBUTES AND FIRM VALUE: EVIDENCE FROM LISTED NON-FINANCIAL FIRMS IN NIGERIA(Gusau Journal of Accounting and Finance, 2025-04-30) Yusuf Olamilekan Quadri; Lukman Adebayo-Oke Abdurauf; Sheriff Akanji IbrahimThe volatile macroeconomic environment in which listed non-financial firms operate in Nigeria has posed many challenges to firm value maximisation due to policy inconsistencies, governance imbalance from ownership configuration, investors’ confidence-related issues, regulatory barriers among others. Hence, this study investigates the impact of ownership attributes on firm value of listed non-financial firms in Nigeria. The study adopted a longitudinal research design and the data of 84 sampled listed non-financial companies were extracted from the annual reports and market data websites. Panel generalised least square regression was employed to analyse the data obtained and the results exhibited that foreign ownership (β=0.1183, p-value = 0.000), institutional ownership (β = 0.5511, p-value = 0.000), managerial ownership (β = 0.2206, p-value = 0.031) and ownership concentration (β = 0.1181, p-value = 0.007) are all significant at 5% significant level, The study concluded that ownership attributes enhance the firm value of listed non-financial firms in Nigeria; thus, it was recommended that sustainable value creation strategies should be adopted in balancing all forms of ownership attributes among listed non-financial firms in order to enhance firm value.
- ItemRole of Informal Financing in Promoting SMEs in Nigeria(The IUP Journal of Business Strategy, 2025-03-30) Sheriff Akanji Ibrahim; Lukman Adebayo-Oke Abdulrauf; Yusuf Olamilekan Quadri; Aina Taye JohnSmall and medium enterprises (SMEs) are critical to Nigeria’s economic development, contributing to employment generation, innovation and poverty alleviation. However, access to finance remains a major constraint for SMEs, limiting their ability to grow and sustain operations. The study examines the role of informal financing in promoting SME growth in Ilorin Metropolis, Kwara State, Nigeria, focusing on the extent to which SMEs rely on informal financial sources and the impact of such financing on business performance. The study employs a quantitative research approach, using survey questionnaires to collect data from SME owners and managers. A multiple linear regression model was employed. The results established that informal financing positively impacts SME growth, with personal savings having the strongest influence, followed by family and friends and cooperative societies. Based on these findings, the study recommends policy interventions to improve SME access to financing, including reforming microfinance loan structures, strengthening cooperative societies, implementing financial literacy programs, and introducing government-backed credit facilities tailored to SME needs. Additionally, integrating informal financing models into the formal financial system could bridge the gap between SMEs and structured financial products, enhancing business sustainability.