The paper examines the extent to which corporate governance contributed to financial crisis in the Nigerian banking industry between the periods 2000 and 2010. Panel data on post consolidated banks in Nigeria for the pre and post 2004 consolidation reforms were used. Two measures of bank performance (return on equity and net interest income) were used as dependant variable on a model that included both number of board members and related insider loans as measures of corporate governance. It was found that while size of board was significant positive insider loan is negatively related to bank performance. The paper concludes that insider loan was the most detrimental consequence of lack of corporate governance in the Nigeria banking industry. The issue raised in some studies about the size of the board members, this paper found a relatively higher number of board members to be more performance enhancing and aiding effective coordination of banks operating within the peculiarity of Nigerian financial system

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This study uses 1,425 observations, relating to firm level and time series data sets, to examine the effect of macroeconomic variables on the economic value created by the Nigerian quoted companies. The data described macroeconomic variables such as inflation (INF), interest rates (INT), capital expenditure ratio of government (CAR) foreign exchange rates (FRXG), gross domestic product (GDPG) and the developments in the capital (CMKG) and labour market (LBMG) and the economic value added (EVA) by 186 purposively selected quoted companies for the years 2001-2012. To allow for comparison, the companies were categorized into two sub-sectors: manufacturing (715 observations) and services (710 observations). The study uses descriptive and inferential statistical tools such as mean, standard deviation, correlation, pooled ordinary least square (OLS) regression and generalized method of moments (GMM) techniques to analyze data. The study found that EVA followed an autoregressive function after one period and lagged EVA was included in model. Due to the problem of heteroskedasticity, Generalized Method of Moment results were relied upon and significant (positive and negative) impact of CAR ( 0.0173, p<0.05), FRXG ( 0.00857, 0.01), INF ( 0.00896, 0.05), INT ( 0.0262, 0.1) and LBMG ( 0.00158, 0.01) on EVA was found, for all the companies. We concluded that value creation, measured by EVA, is a function of prior year EVA and that inflation rate, interest rate, foreign exchange rate, capital expenditure ratio and the development in labour market were important macroeconomic factors that should be improved upon if quoted companies were to optimally create economic value in Nigeria.

Research Background: The on-going debate concerning the exact relationship that exists between inflation and government expenditure especially in the long and short run prompted this research. Purpose: The study assesses the relationship between government expenditure and inflation in Nigeria. Apart from government expenditure and inflation rate, other variables such as exchange rate and money supply are included to ensure a robust model. Research Methodology: Secondary data from 1980 to 2017 were collected and analysed using the Johansen Cointegration analysis and vector error correction model. Results: The results showed that apart from the bi-directional relationship that exists between the variables, there exists a strong relationship between government expenditure and inflation rate and that a significant impact is sustained from the short run through the long run. The exchange rate and money supply also exhibit a strong association with government expenditure. Novelty: The study has underscored the importance of the inflation rate in Nigeria as it affects government spending by focusing more on inflation rather than the movement that was the focus of most of the previous studies. It has also shown the causality flow from both inflation and government expenditure, which hitherto remains contentious.

This study examines the causal relationship between employees' economic rewards and sustainable performance of the Nigerian quoted manufacturing firms. The study uses 400 firm-year data, involving 50 companies, purposively selected over the period [2006][2007][2008][2009]. The data were sourced from the annual audited reports and accounts of the companies, obtained from the Nigerian Stock Exchange. The study uses correlation and granger causality econometric techniques to analyze the data, after carrying out diagnostic tests such as unit roots and cointegration tests. The study found that relative economic value added (WETREL) was stationary (χ² = 176.425, p<0.01) at level and relative employees' economic rewards (SENREL) stationary (χ² = 317.882, p<0.01) at first difference, using the Philips-Perron Fisher asymptotic chi-square criterion while both WETREL was stationary (Z=-9.8012, p<0.01) and SENREL stationary (Z=-7.2612, p<0.01) at first difference, using Philips-Perron Choi Z-statistics criterion. Also, there was at least one cointegrating equation between SENREL and WETREL of the companies, indicating a long-run equilibrium relationship between the two variables. In addition, WETREL (χ²=7.623, p<0.01) significantly Granger causes SENREL and SENREL (χ²=3.744, p<0.05) also significantly Granger causes WETREL. Thus, a bi-directional causality existed between the variables, indicating that the direction of the causality runs two ways, from WETREL to SENREL, and vice versa. The study concluded that the two variables are good predictor of each other though employees' economic reward is a better predictor of sustainable performance of quoted manufacturing firms in Nigeria.