With increasing activities of separatists and agitators for self independence taking a heavy toll on the sovereignty of Nigeria, more curiosity has once again been drawn to the accountability strength, transparency quality and the performance trend of the national economy under the post-1999 democratic dispensations in Nigeria. Given the country’s recent exit from economic recession, the scandalous strides of N9 trillion NNPC contracts still awaiting clarifications and the incumbent administration’s recent claim of N1.3 trillion worth of Capital projects execution in 2016, the study intends to substantiate graphically the complementary impact nature of Nigeria’s budget expenditures and her economic performances in the post 1999 democratic dispensations towards appreciating judgmentally, the quality of accountability possibly upheld during this period in the light of exceptional incidences of questionable transparency in public service. This approach will help shed more light into possible implications obtainable given the trend of the nation’s economic growth as witnessed during the years covered. The annual GDP growth rate statistics, annual GDP achieved (in US$), the US to Naira exchange rates, and the annual national Budget of Nigeria (emphasis on Recurrent and Capital Expenditures) as published by the World Bank Group for the years 1999 – 2016 were all adopted and holistically subjected to professional evaluation and assessment using graphics/charts so as to boost readers’ understandability. Evidence from the statistics shows that Nigeria is yet to appreciate the place of accountability, transparency, and absolute compliance to due process in the achievement and sustenance of upward geared economic growth. Further graphical evaluations carried out reveals that while the country’s annual budget figures continued to rise in trillions of Naira especially in the recurrent expenditures, little of this acclaimed effort is felt by the economy and Nigerians, thus depicting possible tendencies of mismanagement of public funds, intransparenvy and poor accountability approach to the same. The study has as a result proffered several antigens to these visible lapses that has since 1999 left Nigeria struggling atop corruption perception index table of Transparency International (TI).
The principal target of this article is to define, initially, a new trading methodology based on the innovative term “Leveraged Inefficiency”, and then to discuss the dimensions, functionalities, and trading returns of this inefficiency (market anomaly). In trading strategies the temporal (time-series) volatility is not well defined as far as the leverage instruments (like 3x ETFs) is concern. The proposed term could be characterized as a concept described by a 3-d array with a number of trading functionalities, because it uses (in market Entry and market Exit tactics) as its third temporal dimension the Jesse Livermore’s “Psychological Time” and the well-known in trading “Emotional Control” and the “Money Risk Management” as the other two dimensions. After back-testing the proposed trading methodology in available 3-year data for the JDST leveraged ETF (gold miners juniors), we found that in choppy markets, overnight-position institutions profit from the proposed “Leveraged Inefficiency” at the expense of long-term investors, and swing traders as well. Similarly, in trending markets, day-trading speculators profit from the proposed “Leveraged Inefficiency” at the expense of hedge-funds. Hence, the presented research shows that the proposed “Leveraged Inefficiency” market anomaly accumulates profit entirely overnight in choppy markets, while in a trending market the profit occurs mainly intraday.
The negative effect of BokoHaram insurgency in the North East Nigeria continues to be a source of worry to all and sundry. The main thrust of this research is to examine the effect of the sect activities on output status of peasant farmers in selected localities in Adamawa state. Three hundred and thirty-three (330) questionnaires were distributed to the target population. Both descriptive and inferential analysis was used in the research. Logit Model was used to determine the productivity of local farmers in the study area. The findings showed that, all the coefficients are statistically significant from 1 to 10% (0.000, 0.034 and 0.087). The major findings showed that: Peasant farmers experience decrease in their productivity, decline in the income of local farmers in the affected areas. Majority of the farmers in the affected areas are women farmers in the affected areas and could no longer access credit facilities. Government could no longer provide farm input subsidy as a result of fear of unknown. The researchers among others recommended that; there is an urgent need for Government and Non-Governmental Organizations (NGOs) to step into the issue of farm input subsidy and increase the provision of credit facilities, special agricultural program and policies are to be initiated in order to resuscitate agricultural potentials of the affected zone.
The study employed descriptive research design to investigate the role of Microfinance Banks credits in the development of Small and Medium Enterprises in Lokoja, Kogi State, Nigeria. Descriptive statistics and Chi-square statistic were employed for data analysis and testing the postulated hypotheses. Data were obtained from one hundred Small and Medium Entrepreneurs located in Lokoja, selected through a random sampling process. The results from the study showed that Microfinance Banks credits have impact on the expansion capacity of Small and Medium Enterprises in Lokoja. The findings also revealed that Microfinance Banks have mobilized savings for intermediation and Small and Medium Enterprises development in Lokoja. The study therefore recommends that Microfinance Banks at all levels of government should be mandated by the Central Bank of Nigeria to support and promote Small and Medium Enterprises as part of the object of their establishment with proper enforcement measures to ensure compliance. In addition, policies that will minimize the entry regulations imposed on Small and Medium Enterprises, promote attainment of high levels of productivity and serve as the bedrock of stable exchange rates and low inflation should be encouraged. Furthermore, good infrastructural facilities that encourage Small and Medium Enterprises to pool their information and resources together should be put in place.
The study examines the determinants Of Triple Bottom Line Accounting Practice Of Listed Manufacturing Firms On The Nigerian Stock Exchange. The specific objectives of this study are to determine the relationship between Firm size, Firm liquidity, Firm leverage and triple bottom line disclosure practice of manufacturing firms listed on Nigerian Stock Exchange. Three research hypotheses were formulated for the study. This study adopted the ex-post facto research design. The sample of the study comprises of eighteen (18) manufacturing companies in Nigeria. The study relied on secondary data from annual financial statements of the companies. The formulated hypotheses were analyzed and tested using multiple regression analysis. The analysis was performed with the aid of E-view 8.0. The study revealed that Firms' size, liquidity and leverage have a significant positive relationship with the Triple bottom line Accounting practice of Manufacturing Firms listed on the Nigerian Stock Exchange. Consequent upon this study, it was recommended among others that triple bottom line disclosure orientation should be cultivated by all firms, irrespective of their size, liquidity and leverage status to make the practice part and parcel of their corporate strategy necessary for long-term business survival.