This study determined the extent and form of internet financial reporting by quoted companies in Nigeria. The study employed secondary data. One hundred and fifty-five financial and non-financial firms quoted on the Nigerian Stock Exchange (NSE) were purposively selected for analysis. These comprise 49 financial firms and 106 non-financial firms between 2009 and 2010. Data relating to financial reporting on the internet were obtained from the websites of the sampled companies. Content and descriptive analyses were employed to analyse data. Findings revealed that 139 companies which constitute 90% of the listed companies have websites while 16 (10%) have no website. Ninety-eight percent of the financial sector comprising of Banking, Insurance, Mortgage and other Financial Institutions have websites. Out of the total of the 139 companies with website, only 77 (55%) disclosed financial information on their web pages while the remaining 62 (45%) did not. The study recommends that Government and stock market regulators should put in place regulatory framework for internet financial reporting and companies should release both the online report and hard copy promptly
The study examines the factors influencing auditor independence among listed companies in Nigeria. A sample of 65 firms out of the 194 listed on the Nigerian Stock Exchange (NSE) were purposively selected for analysis, these comprise 14 money deposit banks (financial), 1 mortgage bank and 50 non-financial firms. Secondary data were employed for the study and were sourced from the audited financial reports of sampled companies and fact book of the Nigerian Stock Exchange between the periods of 2006 and 2013. Data were analysed using descriptive statistics and Generalised Method of Moments (GMM). Preliminary tests were carried out such as Sargan test, Arellano-Bond Serial Correlation Test among others. The study revealed that Big4, audit tenure, profitability, leverage and inventory with account receivable had negative significant impact, which can impair auditor independence, while size of the firms and loss had positive influence on auditor independence in Nigeria. Also, the square root of the number of subsidiaries was positively related to auditor independence, but not significant and the total number of subsidiaries had positive influence on auditor independence but not significant. These results implied that the two variables can increase the complexity of the audit and, consequently, a rise in audit fees expect in their presence. This will in turn reduce auditor independence. The study therefore recommended that joint audit be adopted and audited tenure be reviewed. The findings of the study would enable management, regulators, investors and other stock market participants to play their unique and important roles in enhancing auditor independence in Nigeria.
This study investigated the essentials for institutionalizing technologies for teaching and learning across the three types of universities in South Africa. This was with a view to determining the skills required for teaching and learning in the 4IR era. In order to obtain the data needed for the study, cross-sectional survey design was employed and online interview was conducted on Microsoft Teams and Zoom with the participants to elicit first-hand information. The population consisted of all the Executive Deans/Deans of Faculties in twenty-six (26) South African Universities. A total of twenty-two (22) Universities were purposefully selected to allow fair representation to make the findings generalizable. Seventy (70) Executive Deans/Deans participated in the online data collection via Microsoft Teams and Zoom. Content analysis and descriptive statistics were employed for analyzing data. Findings revealed that the universities in the Republic deployed fifty-seven different technologies to facilitate their teaching and learning activities, and teaching platforms had been supplemented with new technologies such as WhatsApp, Zoom, and MS Teams. Although resistance had been experienced in the past, the teaching staff is competent to moderately competent in the use of existing technologies for teaching because most faculties had provided training in an on-going basis. Improvements in the standard and quality of teaching and learning were observed with the aid of emerging technologies. The study concludes that while Universities are settled to adopt blended learning as the strategy to implement the convergence between human and machines in the era of the fourth industrial revolution, there is a need to have a national policy in place that deals with funding (special grant) to plug the gap on the digital divide.
The study examines the nexus between tourism and economic growth in Nigeria from 1995-2017. Data were sourced from World Development Indicator and World Tourism Council data base online. Autoregressive distributed lag model (ARDL) was used in analyzing the data. The result of the Bounds test shows that the value of the Fstatistics is greater than the value of the upper bound of the Pesaran, Chin and Smith statistics table at 1% level of significance, which showed that there is a long run relationship among economic growth (GRGDP), growth in the receipt from tourism (GRTR) and exchange rate (EXR). The long run result stipulates that there is no significant relationship between GRTR and GRGDP on one hand and LEXR and GRGDP on the other hand. In the short run, tourism had negative impact on Nigeria's economic growth. The estimate indicates substantial role for time, previous state of the economy and tourism growth. While this result seems a contrast to theory, there may have been many factors connected to tourism development and practices which are anti-growth in the case of Nigeria. Furthermore, a percentage change in exchange rate reveals an ignorable though negative relationship with GRGDP. This may be due to uncertainty which surrounds exchange rate in a flexible regime. The study recommends that the government should invest in infrastructural facilities and tourist centers in order to boost economy of the country. Budgetary allocation can be channeled to tourism industry. Tax incentives to tourism firms should be encouraged.
The advent of the internet and the adoption of e-payment platforms as a convenient means of payment have increased the extent of occurrence of e-fraud and cyber-attacks in Nigerian Banks. The study, therefore, investigated why and how e-frauds are perpetrated in the Deposits Money Banks in Nigeria by employees. The survey research design was adopted. Primary data were sourced from 120 fraud investigation officers in the Banks through the administration of structured questionnaires. Data were analysed using simple percentages. Results revealed that e-frauds were perpetrated by the employees whose employment was threatened as a result of not achieving deposit targets and using either expert or legitimate power to connive with other employees to commit e-fraud against the Banks. Furthermore, findings revealed that job losses were occasioned by disruptive technologies and economic challenges which often lead to employees' disengagement without or little compensation created fear in the mind of employees to commit e-fraud through Phishing, Pharming, and breach of internal checks. The study recommended that unachievable deposits and sales targets should be discouraged in the Banks through our labour laws. Also, the human resources department of the Banks should institute whistleblowing policy that can assist employees to get a reprieve from a supervisor that may want to influence them using any form of power to commit e-fraud. Finally, it was recommended that e-fraud consciousness of the general users of e-payment channels and employees' sensitization on negative consequences of employees' e-frauds should be heightened through frequent education and continuous training.
There have been several recent concerns about the deteriorating state of Nigerian companies’ performance. Many investors in Nigeria over the years have accused the quoted companies of not doing enough to improve their performances. Researchers are concerned about the factor that affects performance as a result of this. Therefore, this paper examines the influence of stock liquidity on the financial performance of companies in Nigeria. Data used are sourced from the financial statements of selected companies and the fact book of the Nigeria Stock Exchange for the period between 2012 and 2019. Data are analyzed using both descriptive and inferential statistics. The empirical findings of this study confirm that liquid stock, proxied by the turnover ratio (TOR), greatly impacts the performance of companies in Nigeria. Sequel to this, this paper concludes that the degree of operational success of Nigeria’s corporate entities is commensurate with the liquidity status of their stocks.
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