The working paper series are intended to mirror the advancement of activities and projects of the Department of Economics, University of Ilorin, Nigeria.
Purpose – In this paper, we investigate the impact of remittances on control of corruption in Nigeria for a
period of 1986–2016.
Design/methodology/approach – The study uses ARDL modeling framework, dynamic OLS estimation,
variance decomposition and impulse response analysis to examine the relationship between the two variables.
Findings – The study finds that remittances significantly improve the control of corruption in Nigeria. We
further examine the robustness test of the results using dynamic OLS estimation, variance decomposition and
impulse response analysis. Our results remain significant and consistent to the earlier one reported in ARDL
framework which supports the extant literature.
Practical implications – Our study suggests that international remittances can be used, through the crossborder
transfer of norms and practices, to significantly impact the socioeconomic progresses of a country by
Originality/value – The existing studies on the relationship between corruption and remittances document
conflicting results. In addition, study on corruption - remittances nexus that specifically focuses on any African
country is largely absent despite the fact that most of the countries in the region are recognized as highly
corrupt. This paper provides insights on how remittances can be used as part of tool kits to control corruption
in African nation.
The study investigates the impact of oil price,
institutional quality (proxied by corruption and legal
environment) and firm-implicit elements on the
dividend policy of listed Nigerian companies for a period
of 2001-2016. System-GMM analysis was used in the
estimation process and findings revealed that oil price,
quality of institutions and firm-inherent drivers play
significant roles in firms’ dividend decisions. Oil price,
institutional quality and firm-implicit variables exerted
statistically significant influence on dividend per share.
This study thus suggests, that prevailing institutional
and macro-economic conditions should be considered
when making dividend policy decisions and that the
nation’s high corruption index poses great threats to
dividend behaviors of Nigerian corporate life.
This study examines the determinants of organizational
performance in trade associations with specific reference
to professional bodies in Nigeria. Based on a purposive
sampling framework, 10 professional bodies in Nigeria
were selected as sample for the study. The procedure was
adopted because of paucity of data that cover the area of
interest. Seventy-five questionnaires were administered
on the sampled professional bodies, and data collected were
analysed using multiple regression with the aid of
Statistical Packages for Social Sciences (SPSS) version
25. Findings indicate that stakeholders' relation, public
perception and effectiveness of strategic planning play
vital roles in shaping the performance of an organization.
Specifically, the results show that all these variables are
significant and positively impact professional bodies
performance. This result has important implication for
professional bodies, in that professional bodies stand to
benefit from a good relation with its stakeholders. It is
therefore recommended amongst others that professional
bodies should ensure professional competence by ensuring
increase in sense of belonging and satisfaction that
accompanies stakeholders' good relation to their
Over the years, both structural and conduct regulations had been experienced in Nigerian deposit money market. Structural regulation focused on market structure, featured with the functional separation of firms into complementary activities (for example, caving out microfinance bank from the conventional commercial banking functions), restrictions on entry and rules regarding the operation of foreign banks. However, this structural regulation may tend to make entry difficult, and may tend to protect incumbent firms from competitive pressure. This arrangement might increase the level of market power of Nigerian deposit money market. By definition, market power specifies how firms in a market influence prices, and reveals the level of competition in the market. This study investigated the level of market power in Nigerian deposit money market using Bresnahan-Lau’s model. Annual data for the period of 1986-2012 were sourced from annual financial statements of Nigerian banks and Central Bank of Nigeria statistical bulletin. The model was estimated using Two-stage-Least Square (TSLS). The results revealed that Nigerian deposit money market maintained monopolistic competition. The study concluded that the banking reforms introduced had improve competitive condition of the industry, hence; the practice of monopolistic competition.
The fallout from the financial crisis has placed a heavier focus on best practices for corporate governance principles. Boards of directors feel more pressure than ever before to be transparent and accountable. The study examined the effect of board size and its independence on the performance of listed entities in Nigeria. It further determined the effect of board diligence and board diversity on the performance of quoted firms in Nigeria. These were with the view of examining the relationship that exists between board characteristics and performance of quoted firms in Nigeria. The study which covered a ten-year period (2009–2018) made use of secondary data sourced from published annual reports and accounts of 35 purposively selected listed companies on the Nigerian Stock Exchange (NSE). The Pooled Ordinary Least Square (OLS) and Generalised least square method of regression techniques were employed in analyzing the data obtained. Findings from the study revealed that a significant negative relationship exists between earnings per share and board size with a coefficient of -0.33 and p-value of 0.0095 (>0.01) and between earnings per share and board diligence with coefficients of -0.43 and -0.48 and p-value of 0.02 (>0.05) and 0.0095 (>0.01) respectively, but no significant relationship exists between earnings per share and board independence with coefficients of -2.67 and –1.64 and p-value of 0.0218 and 0.49 respectively and between earnings per share and board gender diversity with coefficients of 0.06 and 0.08 and p-value of 0.42 and 0.36 respectively.The study concluded that board size and board diligence have impact on the performance of quoted companies in Nigeria, while board independence and gender diversity do not have effect on the performance of quoted firms in Nigeria. It was recommended small board size of diverse educational background and wide experiences of members, and regular meetings to discuss matters that concern the performance of firms.
Fiscal indiscipline threatens long-term fiscal sustainability. One important role of the budget and budgetary institutions is to instil fiscal displine in governance. With transition to democratic rule in 1999, the budget process and institutions in Nigeria have changed to a large extent. This study examined whether or not the changes in budgetary institutions have impacted on fiscal displine in Nigeria. Using panel data on Kaduna and Kwara state governments' finances, a set of alternative empirital models of fiscal discipline were estimated using Hausman-Taylor techniques. The results showed that the changes in budgetary insitutions occassioned by the transition to democratic rule have had no significant impact on fiscal discipline in Nigeria.
This paper examines the effectiveness of periodic elections and anti-corruption agencies such as the Economic and Financial Crimes Commission (EFCC) in controlling corruption in Nigeria using a political agency market. We found that, regular free and fair elections may not abate corruption in a multi-ethnic country like Nigeria particularly if electoral system is inefficient and not completely independent. Equally, if politicians can bribe the anti-corruption (monitoring) agency the citiznes are better off without monitoring. The paper concludes that the first best step to control corruption through periodic elections in Nigeria is to establish an efficient electoral system and ensure that zoning arrangement is incorporated in Nigeria's constitution so that electoral positions will be competed for by people of similar ethnic affinities at a time. Orientation of electorates to vote on the basis of performance rather than ethnicity could also help.
Transportation is a necessity if the day-to-day economic activities of the society must move on. There are different modes of informal transport available in Nigeria. This study evaluated the determinants of the modal choice of informal transport among commuters in North central city of Ilorin, Nigeria. The study used primary data generated through a structured questionnaire administered to 100 commuters randomly selected in Ilorin metropolis. This study used a multinomial logit model for data analysis. The results showed that earnings and household size were the core determinants of the choice of informal transport mode. The study concluded that different informal transport modes available to the commuters gave them the opportunity to made choices based on their income and the transmport cost in Ilorin metropolis, Nigeria.
Commercial motorcyclists often violate road traffic regulations where they operate. The traffic offences they commit include, but are not limited to carrying more than one passenger per trip, which is above the passenger capacity of a motorcycle as provided by law. The objective of this study is to examine the determinants of passenger capacity compliance among commercial motorcyclists in Kwara State, Nigeria. This study studied 1,178 randomly selected motorcyclists across the rural-urban divide of Kwara State. Logistics regression models were used as the tool for data analysis. Statistics showed that 62.19 percent of the motorcyclists operate on full-time basis while the rest operate on part-time basis. About 68 percent of the motorcyclists operate without a valid driver's license. It was found that only 25 percent of the motorcyclists comply with the regularion of carrying one passenger per trip. The rate of compliance with the passenger capacity regulation stood at 38.3 percent for the urban areas while that of rural areas was estimated at 13.8 percent. The regression results revealed that license holding, operation mode, age, location, education, and earnings are factors that determine complinance with the passenger capacity regulation among commercial motorcyclists in Kwara State. The study recommends that traffic law enforcement agents should educate commercial motorcyclist on road safety issues and also enforce compliance.
This paper examines the determinants of savings and choice of savings place among commercial motorcycle operators in Kwara State, Nigeria. The study used primary data generated through a structured questionnaire which was administed to 1,197 commercial cyclists across the state. A linear savings model was used as tool of data analysis. The average daily savings of Oka riders in the state stand at N557(US$3.71 US) while the mean daily savings of both t he rural and urban motorcyclists is estimated at N631.37(US$4.14) and N480.93 (US$3,21 US) respectively. About 68.16 percent of the Okada riders save part of their earnings with informal savings outlets such as ajo (daily contribution) and cooperative societies. The results indicate further that earnings, household size, age, education, and location determines savings among Okada riders in Kwara State affect savings. Factors such as education, earnings, license holding, location, operation mode and access to financial institution explain the choice of savings place among the commercial cyclists. The paper recommends that government should liaise with micro-finace banks to capture Okada riders in to the small and medium-scale enterprises frameword to enhance their saving culture.