The study attempts to empirically examine the macroeconomic variables that contributed to the Nigeria stock market bubble, its consequent melt down and its gradual recovery during the period under review and particularly between 2007 to 2013. Relying on the Ordinary Least Square (OLS) regression technique, the study examined the joint impact of gross domestic product (GDP), money supply (M2), exchange rate (EXR), capacity utilization (CAU), and inflation (INF) on All Share Index (ASI). The result shows that the coefficients of gross domestic product and money supply were statistically significant while the remaining three: exchange rate, capacity utilization and inflation were not significant. The paper observes that the post melt down macroeconomic policies including banking sector reforms contributed to the gradual recovery of the stock market. The paper therefore recommends the need for policies that could further strengthen and stabilize the banking sector, ensure low but steady interest rates, favourable exchange rate, low inflation and consistent policy environment that could boost a steady growth in the real sector.
The study examines the effects of the adoption of cashless policy on the profitability performance of commercial banks in Nigeria. By using ATM and POS as proxy for the adoption of cashless policy and ROA and ROE as proxy for profitability and using the Ordinary least Square multiple regression analysis, the study reveals that there is a high positive correlation between the adoption of cashless policy and commercial bank profitability in Nigeria. The multiple regression analysis also revealed that the use of cashless policy instruments particularly ATMs and POS increases the ROA and ROE of the banks. It is therefore recommended that the cashless policy should be strengthened and all bottle necks like poor power supply and all loopholes that could lead to fraudulent exposure be tactically proactively tackled.
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