JOURNAL OF BUSINESS & ECONOMY

This study examines the relationship between deposit money banks, manufacturing sector, and economic development in Nigeria from 1980 to 2025. Main indicators include credit reserve ratio, liquidity ratio, monetary policy rate, minimum rediscount ratio, manufacturing sector output, treasury bills and open market operation. Data were sourced from the Central Bank of Nigeria (CBN) Statistical and the analysis employed the Augmented Dickey-Fuller (ADF) unit root test and the Autoregressive Distributed Lag (ARDL) model to ensure data stationarity and robust examination of long-run and short-run connections. The study used Augmented Dickey Fuller (ADF) test Unit root test to Co-integration and ARDL approach. Results revealed that R 2 = 0.803933 meaning that the various independent variables explain 80% in dependent variable per capita income (PCI) in both the short and long run. The study concluded that deposit money bank indicators significantly affect Nigeria’s economic development. It recommended that the Central bank (CBN) should implement stable policies to improve liquidity management and credit allocation to stimulate overall economic development.

This study examined the effects of monetary policy on the return on asset of Deposit Money Banks in Nigeria for a period of 34 years (1990 – 2023). Cash reserve ratio, liquidity ratio, monetary policy rate and broad money supply (M2) were the monetary policy tools considered as the study adopted the quasi-experimental research design. Secondary time series data were used for the study and these data were sourced from the World Bank (World Development Indicators) and Central Bank of Nigeria (CBN) statistical bulletin for 2023. The major tool of analysis was the Autoregressive Distributed Lag (ARDL) technique that covers short run analysis, bounds test and ECM estimation. Short run analysis revealed that cash reserve ratio has negative but significant effect on the ROA banks while liquidity ratio and broad money supply have negative insignificant effects on ROA of banks. It was revealed that monetary policy rate has positive insignificant effects on return on asset of banks. However, the study showed that there is a long run relationship between the variables; and in the long run, broad money supply has positive insignificant influence on the ROA of banks while cash reserve ratio, liquidity ratio and monetary policy rate have negative insignificant effects on the return on asset of Deposit Money Banks. Hence, the study concluded that monetary policy has an insignificant effect on the return on assets of Deposit Money Banks in Nigeria. The study suggested that policy makers should consider reducing the current cash reserve ratio in order to increase DMBs’ loanable funds and improve profitability; it is imperative for the regulatory authority in the Nigerian banking industry to strictly monitor DMBs’ liquidity levels in a bid to ensure that they maintain a healthy balance between liquidity and profitability; the Central Bank of Nigeria should further consider using monetary policy rate as a tool to boost the profitability of DMBs in Nigeria though there is need for a careful consideration in this regard; and the apex bank should put up better plans to curtail the volume of money supply outside the banking system in order to make monetary policy drives achieve better results.

IFRS 15 (Revenue from Contracts with Customers) was issued in 2014 and became effective on 1 January 2018 to address the limitations of IAS 11 (Construction Contracts) and IAS 18 (Revenue). However, whether the adoption of IFRS 15 has improved financial reporting outcomes, particularly earnings persistence, remains largely unresolved empirically. This study therefore examined the impact of IFRS 15 adoption on earnings persistence in listed Nigerian firms. Using secondary data obtained from S&P Capital IQ and annual reports, the study analysed 103 firms listed on the Nigerian Exchange (NGX) selected purposively from a population of 159 firms based on data availability. The study period covered 2012–2023, divided into the pre-IFRS 15 period (2012–2017) and post-IFRS 15 period (2018–2023). Operating earnings persistence was used as the primary proxy for earnings persistence, while net profit persistence served as a robustness measure. The Mann– Whitney U test was employed for hypothesis testing. The results revealed a statistically significant difference in operating earnings persistence between the pre-IFRS 15 and post-IFRS 15 regimes (U = 212,777.00; z = 3.477; p = 0.001). The findings were robust to alternative earnings persistence measures. The study concludes that IFRS 15 significantly influences earnings persistence in Nigeria and recommends further review and clarification of the standard by the FRC and IASB to strengthen reporting quality.

The need for financial probity cannot be overemphasized as this has drawn the attention of researchers in the field of accounting and finance that demands urgent attention. Despite widespread reforms aimed at enhancing transparency and governance, persistent challenges such as inconsistent compliance, delayed reporting and weak institutional capacity undermine financial accountability at the subnational level. This study addressed a critical gap in the literature by empirically investigating the specific effect of IPSAS within the unique socio-administrative context of Ogun State LGAs focusing on four dimensions: compliance, transparency, corruption and timeliness. The objective of the study was to investigate the effect of IPSAS adoption on financial accountability of LGAs in Ogun State. The study employed a survey research design targeting a population of 475 accountants, internal auditors and accounts staff across Ogun State LGAs. A sample size of 448 was determined using the Olonite sampling technique. Data were collected via structured questionnaires and the instruments reliability was confirmed with Cronbach’s Alpha coefficients ranging from 0.733 to 0.909 indicating excellent internal consistency. Data was analysed using descriptive and multiple regression analysis to test the hypothesized relationships. The results and findings show that IPSAS adoption had a positive and significant effect on Compliance with Financial Reporting Requirements (CMFR) for hypothesis one (Adj R 2 = 0.713, F(4, 345) = 6.898, p < 0.05). IPSAS adoption had a positive and significant effect on Transparency of Financial Reporting (TRFR) for hypothesis two (Adj R 2 = 0.723, F(4, 345) = 2.682, p < 0.05). From the findings and results, the study concluded that IPSAS adoption has a significant effect on financial accountability in LGAs in Ogun State.The study however recommended that local government authorities institutionalize continuous IPSAS training programs for accounting personnel, enforce strict compliance mechanisms, automate accounting processes to ensure timeliness and enhance the public dissemination of financial reports to foster transparency and public trust.

This study evaluates the influence of corporate social responsibility reporting on firm performance as captured via their net profit margin and return on assets over the study period of 2012 to 2022. The study employed the stationarity test because of its statical properties, the panel regression test in its pooled random and fixed effects variants, followed by the co-integration test, error correction model and stacked granger causality test that analyzed causal relationship between relevant variables. The research employed secondary data which were  obtained from annual report of quoted oil and gas companies to test seven hypotheses related to community development costs, human capacity development costs, employee benefit costs, and firm size. The findings reveal a significant positive relationship between community development costs and net profit margin, emphasizing the impact of strategic investments in community development on profitability. However, no significant relationship is found between community development costs and return on asset. Human capacity development costs did not exhibit a significant relationship with either net profit margin or return on asset. Notably, a negative relationship is identified between employee benefit costs and net profit margin, prompting recommendations for careful management of benefit programs. Firm size positively moderates the relationship in the net profit margin model, indicating potential advantages for larger companies, while its impact on return on asset is not statistically significant. Therefore, the study advises decision-makers to act towards optimizing resource allocation, fostering sustainable community development, and maintaining a balanced approach to employee benefits.