African Scholar Journal of Business Dev. and Management Research Vol. 30 No. 7


VOL. 30 NO. 7 SEPT., 2023.



African Scholar Publications and Research International,

Centre for African Studies, University of Ibadan, PO Box 10108, Ibadan, Oyo State, Nigeria.


Impact of Firm Attributes on Audit Delay: A Focus on Quoted Manufacturing Firms in Nigeria


Nandak Godwill Yadok1, Helen Oluwatoyin Adebayo2 and Jatau Andrew Yohanna3

1Department of Accounting, Federal University Lokoja – Nigeria. 2&3Department of Accountancy, Federal Polytechnic Nasarawa – Nigeria.



The degree of trust placed in the financial statement may be negatively impacted by audit delay, which has drawn the attention of regulatory organizations and accounting experts. The study’s goal is to discover how firm characteristics affect audit delay, with a focus on publicly traded industrial companies in Nigeria. The design used is correlational. A sample of 25 quoted manufacturing companies was chosen from the population of 74 manufacturing corporations that are listed on the Nigerian stock exchange. The OLS Robust Regression result using descriptive statistics and correlation demonstrated that all the explanatory factors from business size, profitability, age, accrual, and complexity have a substantialinfluence on audit delay. However, the only factors that have a positive, substantial association with audit delay are firm size and firm complexity. Based theoutcomes and recommendations, companies should adhere to all laws and regulations, particularly accounting standards, and have effective internal controls and accounting systems in order to decrease the reporting lag of auditors.

Keywords: Firm Size, Firm Profitability, Firm Age, Firm Accrual, Firm Complexity, Audit Delay




Workplace Bullying and Performance of Hotels in Owerri, Imo State, Nigeria


*Amajioyi, Chizoba Mercy (Ph.D); **Adiele Nneka J.; & ***Ani Brain Nwabugwu

*Department of Hospitality and Tourism Management, Faculty of Management Sciences, Imo State University, Owerri **Department of Management, Faculty of Management Sciences, Imo State University, Owerri. ***Department Of Marketing, Faculty of Management Sciences, Imo State University, Owerri



This study focused on workplace bullying and performance of hotels in Owerri, Imo State, Nigeria. The study was carried out to determine the extent abuse in the work place affect employee effectiveness. The researchers formulated two research objectives, two research questions and two hypotheses. Survey research design was employed by the researcher and questionnaire served as the instrument of data collection. The study population made up of the entire 260 staff in 25 three (3) star hotels in Owerri, Imo State. Though only 240 copies of the questionnaire were returned and used. The data collected were analyzed using simple percentage and mean. Based on the data analysis, it was discovered that verbal abuse significantly affects labour turnover intention in organization; physical attack significantly affect labour turnover intentions and productivity in the hotels. The work concludes that no employee will like to undergo any kind of abuse, but when such is the case, low productivity /effectiveness and high job turnover will be the order of the day. The study recommends that there is need for the organization to develop a policy and standard which will help to minimize, control, and stop all forms of verbal abuse in the organization; hence encouraging employee retention and productivity. More so, there should be regular staff training and customer reorientation so as to achieve positive relationship through communication and stop all forms of physical attack in the workplace.

Keywords: Workplace Bullying, Performance, Verbal Abuse, Labour Turnover Intention; Physical Attack and Productivity.




Risk Management and Shareholders Wealth Maximization among Listed Pharmaceutical Companies in Nigeria


1Josiah, Mary & 2Akamiokhor, Aliu Clifford

Department of Accountancy, College of Business and Management Studies, Igbinedion University, Okada



This study examined Risk Management and Shareholders Wealth Maximization among Listed Pharmaceutical Companies in Nigeria. Specifically, the study examined the relationship between operational risk, liquidity risk, market risk, leverage and shareholders wealth maximization in the pharmaceutical sector in Nigeria. Multiple regression estimation approach was employed on information extracted from a sample consisting of six (6) pharmaceutical companies quoted on the Nigerian Exchange Group between the period of ten (5) years (2017 to 2021). Panel Least Square (PLS) regression technique was employed in estimating the data and testing the formulated hypotheses. The findings revealed that there is an insignificant relationship between operational risk, liquidity risk, market risk and shareholders wealth maximization in the pharmaceutical sector in Nigeria. The results also uncovered that there is a significant relationship between leverage and shareholders wealth maximization in the pharmaceutical sector in Nigeria. In line with the findings, the study recommends that the management of listed pharmaceutical companies in Nigeria should put adequate resources in place that will enable them understand operational risk so as to guarantee effective operational risk management in order to enhance shareholders wealth maximization. It is also recommended that an appropriate debt- equity mix should be adopted by listed pharmaceutical companies in Nigeria if they must improve their shareholders wealth maximization and remain competitive

Keywords: Operational Risk, Liquidity Risk, Market Risk, Leverage, Shareholders Wealth Maximization




Moderating Effect of Firm Characteristic in the Relationship between System-Thinking Competency and Economic Performance of Startups in Lagos


*Imo Okorie Imo; **Prof. F. Epetimehin; & *Dr S.O. Onimole

*Dept. of Entrepreneurship, College of Management Science, Joseph Ayo Babalola University, Ikeji-Arakeji, Osun State, Nigeria. **College of Management Sciences, Joseph Ayo Babalola University, Ikeji-Arakeji, Osun State, Nigeria



This study explores the intricate relationship between system-thinking competency, firm age, and economic performance in startups situated in Lagos, Nigeria. Drawing on a sample of 218 startups in Lagos, we investigate the extent to which system-thinking competency influences economic performance and how firm age moderates this relationship. The empirical analysis employs Partial Least Squares Structural Equation Modeling (PLS-SEM) to test the proposed hypotheses. The findings reveal that system-thinking competency has a positive and significant effect on economic performance in startups in Lagos. Moreover, firm age emerges as a crucial moderator, indicating that the influence of system-thinking competency on economic performance varies across different stages of a firm’s lifecycle. These results contribute to our understanding of the dynamic interplay between entrepreneurial competencies, firm characteristics, and business performance. The study underscores the importance of fostering system-thinking skills among entrepreneurs, especially in the context of emerging markets like Lagos, and highlights the strategic implications for startup success in an increasingly complex business environment.

Keywords: economic performance, firm characteristic, system-thinking competency




Business Performance’s ‘Anthem’ Sung by Female Entrepreneurs


Raheem Shefiu

Business Administration Department, School of Business and Entrepreneurship, SBE, American University of Nigeria, AUN, Yola, Adamawa State, Nigeria.



The popular aphorism states “what gets measured, gets done”. This alludes to the critical importance of measurement in today’s organizations. Undoubtedly, without measurement, a firm cannot determine its position, where it ought to be and what it need to do to get there. The evidence provided in this paper showed that the dynamic and competitive nature of business environment necessitates the need for business organizations to pay a great deal of attention on how to develop and measure performance. The performance of firm is a relevant construct, in strategic management research, across the globe but it suffers from limited conceptualization, selection of indicators based only on convenience, and lack of proper dimensionality. In spite of its relevance, there is hardly any consensus about its definition, dimensionality and measurement, which limits advances in research. The lack of universally accepted standard performance measures left the door open to business organizations to decide and choose its own performance measure that might not truly reflect its performance. There is no optimal mix of performance measure, there is need to complement financial measures with non-financial measures (such as customer satisfaction and retention, measure of employee among others) to enhance business performance. To accomplish this lofty motive, one of the major tasks to be carried out is to develop and implement performance measures that can enhance decision making and improve business performance. The paper employs descriptive and explanatory research approach, by relying on secondary source of information. It concluded that the success of any organization is reflected upon by its performance level which is closely related to its strategies. This review paper makes a contribution towards defining performance-related measurements as regards female entrepreneurs.

Keywords: Female Entrepreneurs’ Business Performance, Measurement Types, Performance Sustainability Strategies, Economic Growth




Effect of Modern Technology on Young Entrepreneurs: Evidence from POS Agent Banking in Kano State


Hauwa Garba Ahmed

Department of Continuing Education, Bayero University, Kano-Nigeria.



The study aimed to assess the effect of modern technology on teeming young entrepreneurs: Evidence from POS Bank Agents banking in Kano metropolis. The study used descriptive survey research design. It used primary data from the administered questionnaire. The population size used for this study was 122 selected POS Bank Agents in Kano Metropolis during the period under review, while the same number was implemented as the sample size. Census sampling method was employed for the study while multiple regression analyses using E-view version 23 statistical software package was used to analyze the data and tested only one out of the three formulated hypotheses at 5% level of significance. The study found that there is a significant impact between modern technology of ATM Banking on or amongst young entrepreneurs from the selected POS Bank Agents in the Metropolis. The study concluded that most of the researchers found modern technology of POS using ATM Banking/Card as a catalyst for entrepreneurship creation and financial service delivery as various banking agencies have promoted the various financial services delivery through the imminent young POS entrepreneurs, ATM, and mobile banking services in Nigeria with specific reference to Kano metropolis. The study recommended that as modern technology in POS system has become more advanced and accepted amongst young entrepreneurs it can also be used to offer additional services to customers beyond just processing. This will create new job opportunities for individuals with the necessary skills to provide these additional services.

Keywords: Young Entrepreneurs, Modern Technology, Banking and POS Agents




Competitive Rivalry and Cost Leadership Strategy on Market Growth of Consumer Goods Sector in Nigeria


*Jacob Olubukola Oladipo; **Akeem Owolabi Usman; and *Akintunde Jonathan Oyedokun

*Department of Business Management. Ladoke Akintola University of Technology. P.M.B 4000. Ogbomoso. Oyo State. Nigeria **Department of Economic Ladoke Akintola University of Technology. P.M.B 4000. Ogbomoso. Oyo State. Nigeria.



Evidence from the literature shows that the global business landscape is marked by fierce competition, rapid technological advancements, short product lifecycles, and ever-changing customer preferences. These challenges have intensified competition across various industries, forcing organizations to grapple with maintaining their competitive edge. Studies in this regard in Nigeria’s consumer sector were few and worthy of exploration. This study examines the effect of competitive rivalry and cost leadership strategy on the market growth of the consumer goods sector in Nigeria. The research was conducted on a sample of the 25 consumer goods companies listed on the Nigeria Exchange Group (NGX) in 2023. Purposive sampling and double-digit market capitalization were employed to select four consumer companies. 442 copies of the structured questionnaire were administered to various personnel from selected household consumer goods companies.  The study used Confirmatory Factor Analysis (CFA) for the data.  Amos software was used for data processing.  The results of 0.043 (p < .001) confirmed that competitive rivalry significantly negatively affects market growth. As competitive rivalry increases, market growth decreases. This establishes the fact that implementing a cost leadership strategy alone will not guarantee substantial market growth. Therefore, the study concluded that intense competitive rivalry has a negative impact on market growth in the consumer goods sector, while the effect of cost leadership strategy on market growth is limited.

Keywords: Competitive Rivalry, Cost Leadership Strategy, Market Growth, Consumers, Firms




The Impact of Nigerian Agricultural Insurance Corporation on Insured Farmers’ Income in Taraba State


Ugbe, John Fidelis

Department of Business Administration and Management, Federal Polytechnic Bali, Taraba State, Nigeria.



Research on the Impact of Nigerian Agricultural Insurance Corporation on Insured Farmers, Income in Taraba State who sustained losses as a result of natural disasters is being done solely empirically to see whether the farmers were able to return and continue operating in agriculture the following year. The main objective of this research study is to determine the Impact of Nigerian Agricultural Insurance Corporation on Insured Farmers Income in Taraba State. The study area is six local government areas of Taraba State which is selected by convenient sampling techniques cut across the three senatorial districts, they are Karim lamindo, Ardo – kola, Lau, Bali, Gossol and Wurkari. 3223 insured farmers make up the study’s population, which represents all the farmers registered with the Nigerian Agricultural Insurance Corporation in Jalingo, Taraba State. Taro Yamane’s sample size formula yielded a sample size of 356 from the population. Data were gathered using a survey sample technique, which entailed the use of questionnaires. Only 348 of the approximately 356 questionnaires that were distributed were returned. The microfinance and commercial banks that disbursed loans and assisted the farmers to insured their farms with Nigerian Agricultural Insurance Corporation (NAIC), which provides farm insurance in Nigeria, helped the researcher gather the respondents via their various farmers’ cooperatives.  T – test method is used to analyzing the null hypothesis at 0.05 level of significance. The research finds out that the Nigerian Agricultural Insurance Corporation plays a significant impact in protecting farmers’ incomes through the payment of compensation that enables farmers to continue operating their farms the following year irrespective of the losses incurred.  Various recommendations were made, including the need for cheap insurance premiums to be offered, among others.

Keywords: Nigerian Agricultural Insurance Corporation, Insured Farmers, Income, Impact, Taraba state




Contribution of Point of Sales (POS) to Rural Economy: During the CBN’s Cashless Introduction: A Case Study of Some Selected Communities in the Oke-Ogun Area in Oyo State


Abubakar Sarafadeen Bayo, Soliu Rasaq Adesina; & Adejumobi Clement Tunrade

Department of Business Administration & Management, The Oke-Ogun Polytechnic, Saki, Oyo State, Nigeria.



This study assesses the contributions of Point of Sales (POS) to the economy of The Oke-Ogun area of Oyo State. The study population was the 1500 POS operators in the study area. Two hundred samples were selected via convenient sampling from Saki, Iseyin, Ago-Are, Ago-Amodu and Tede (all in The Oke-Ogun area). Structured questionnaire and personal interview were used to collect the data. Frequency and percentage was adopted to analyse the data and SPSS was used to test the hypotheses. The study revealed that introduction of cashless policy was ill-fated during the period because the stakeholders are not well prepared. It was also found that the masses were skeptical about the effectiveness of POS as means of payment. The study recommended that there should be proper awareness on the adaptation and use of POS in order to allay the POS users’ fear on network issue as it can be surmountable, the Central Bank of Nigeria (CBN) should embark on enlightenment on the benefits of cashless policy because some people still have the strong belief in cash payment and that all stakeholders in the cashless economy should be prepared before the full implementation of the cashless policy.

Keywords: POS, Cashless policy, Economy and Fintech




Risk taking by MSEs: Consequences on Marketing Performance in North-Eastern Nigeria


Bello Kasim Sanusi; and Nurudeen Ahmad Buhari

Department of Marketing Federal Polytechnic Bali, Taraba State, Nigeria.



The aim of this research is to examine the consequences of risk taking on marketing performance of micro scale enterprises in North eastern, Nigeria. The study was conducted among all creative MSEs sub-sector such as handcraft, fashion, and printing and design in Northeastern Nigeria within the Jalingo metropolis; it examines the effect of one EO dimensions on micro scale enterprise marketing performance. The census approach was used in conducting this survey among 517,973 populations. Out of 384 responded people, only 378 were found usable. The questionnaire was adapted from Prabin (2016) which was used to measure risk taking and marketing performance measurement was based on subjective evaluation involving self-reported measures. Descriptive statistics, correlation and regression analysis were used to analyze the data and to infer result. The findings reveal that significant relationship exist between risk taking and marketing performance. Therefore, the study recommends that the managers and/or owners of MSEs should maintain the way they bear and take risk of establishing business, especially in building, re-building and adding more or different line of businesses. This finding may be of help to the owner/managers of micro scale enterprise to be more entrepreneurial oriented in order for them to survive in the intensively competitive market environment.

Keywords: Entrepreneurial Orientation, Risk taking, Marketing performance, Northeastern, Nigeria.




Enhancing Workplace Productivity through Appropriate Motivational Techniques


Aguomba Ugonna C.; Onyeobia Ezinne G.; and Ajah Nnenna Franca

National Productivity Centre, Imo State Office



Individual behaviours and actions of employees are mostly driven by needs, values and beliefs, and the extent to which these are met r addressed has a high impact on the employee performance or productivity. Since employees are undoubtedly the most important asset of an organization, managers therefore need to know how to address the changing requirements of their subordinates bearing in mind that performance depends on different factors. The paper therefore looks at the reasons why motivation must be a watchword in organizations seeking improvement in their level of productivity. It also outlines the concept, components and importance of motivation in the workplace. Motivating employees is easier said than done, hence the paper examines the different approaches to motivate the employees and the different things an employee can do to motivate himself, because self motivation is also very vital.   Different techniques of motivation were also discussed as well the different factors that can affect motivation, like the work environment, growth opportunities, the feedback mechanism and so on, which will go a long way in helping managers of businesses know the best way to motivate or enhance the performance of their staff in order to enhance the overall workplace productivity.




An Empirical Analysis of the Effect of Industrial Growth on Unemployment in Nigeria: A Disaggregated Approach


*Chigbo Geraldine Ngozi; **Suleiman Oniyangi; & ***Kanu Nnabugwu Chidiebere

*Corporate Affairs and Information (CAI) Department, National Productivity Centre, Enugu State Office. **Procurement Department, National Productivity Centre, Headquarters, Abuja. ***Productivity Measurement and Index (PMI) Department, National Productivity Centre, Imo State Office.



The current phenomenon of ‘jobless growth’ being witnessed across several developing economies, Nigeria inclusive, poses far-reaching challenges to the age-old economic postulate that the growth in the gross domestic product (GDP) of an economy reduces unemployment. Many attempts have been made to verify this postulate otherwise known as Okun’s Law.  However, existing empirical studies of the Nigerian economy generally focused on aggregate output thereby overlooking the differential employment generating capacities of sectors in the economy.  This could undermine policy making on employment as the studies did not reveal the sector(s) or even aspect(s) of the economy that is (are) more efficient in reducing unemployment. This study therefore, investigates the short-run and long-run effects of industrial sectors’ growth on unemployment in Nigeria with time series data spanning 1980-2015. The econometric technique employed in the research is the Autoregressive Distributed Lag (ARDL) bound testing approach. The analysis began with pre-tests for stationarity using Augmented Dickey-Fuller (ADF) unit root tests. Four ARDL models were specified. In the first, bound testing revealed the existence of cointegration between unemployment and GDP growth.  We found that growth in GDP is positively related to unemployment in the long run but a negative relationship was found in the short run. The initial disaggregation of GDP into its components i.e. agriculture, industry, construction, trade and services, in the second ARDL model, showed no long run relationship between unemployment the disaggregated GDP. In the third model, cointegration was found to exist between unemployment, agriculture, industry, services solid minerals and cement. The fourth specification also shows that there is cointegration between unemployment, manufacturing, crude oil and gas, trade and transportation. While manufacturing and services were found to be significantly and positively related to unemployment in the long run, the results on other variables were found to be mixed and insignificant. Also, the short run relationship between unemployment and all the explanatory variables were mixed but statistically insignificant. The study therefore recommend among others, the need for forging a link among the primary, secondary and tertiary sectors of the economy, with the agricultural sector linked to the industrial sectors by developing the value chain from agricultural produce to finished industrial products.  This will reduce reliance on imported raw materials and spear parts used for industrial and agricultural production and thereby increase labour participation rate and employment generating capacity of industrial and other sectorial growth in the economy.

Keywords: Industrial Growth, Unemployment, Agricultural Production, Labour, Agricultural Sector and Nigeria




A Comprehensive Review of Debt Portfolio Supervision and Evolution in Nigeria: Covering the Period 1990-2020


*Abdul Wasiu Sanusi; **Muddassir Ahmad Gado (Ph.D); & ***Ibrahim S. Muhammad (Ph.D)

*Department of Social Studies, Shehu Shagari College of Education, Sokoto. **Department of Sociology, Usmanu Danfodiyo University, Sokoto. ***Department of Economics, Shehu Shagari University of Education, Sokoto, Nigeria



The justification for government borrowing has its foundation in the neoclassical growth models, which prescribes the need for capital-scarce countries to borrow and increase their capital accumulation and steady-state level of output per capita. Paradoxically, this intent has become a conundrum of no end to many developing countries, including Nigeria. According to the World Bank, 50% of low-income developing countries are now either in debt distress or at high risk of default. It is affirmative that most states in Nigeria have huge debt loads, with very low revenue generated. In the past five years, the federal government has committed a total of N11.679 trillion to debt servicing. A breakdown of the amount showed that in 2015 and 2016, N953.620 billion and N1.475 trillion respectively were spent on debt service, while N1.841 trillion went into the same line item in 2017. In 2018, the Federal Government generated N3.48tn as revenue while debt servicing gulped N2.09tn of the revenue. In the first quarter of 2020, the debt service to revenue ratio was as high as 99 per cent with N943.12 billion spent as debt service out of retained revenue of N950.56 billion. Nigeria’s debt at the moment amounts to more than N38 trillion. It is because of this, the paper was designed to assess the Nigeria debt profile, as well as the level of infrastructural development in the country. While all the materials used for the study were drawn from secondary sources, descriptive and analytical methods of historical research were employed in the analysis of data obtained for the study.

Keywords:  Debt, Domestic, Development, Foreign, Government, Infrastructure Nigeria




The Roles of Auditors in Managing the Challenges of Creative Accounting in Nigeria


Oladele Olumuyiwa Samuel

Augustine University, Ilara Epe, Lagos State Nigeria.



The expansion of auditing services is largely responsible for accounting’s continued legitimacy. The difficulty in ascertaining whether auditors are primarily to blame for management’s inventive accounting practises has increased. This study thus aims to shed light on the role auditors play in resolving issues brought about by creative accounting in the Lagos state context of Nigeria. A total of 219 individuals’ responses were used as the primary data. The purpose of this study was to shed some light on the complexities of cosmetic accounting and how they relate to the responsibilities of auditors in corporate reporting in Nigeria. The study found that if accounting principles and standards were standardised, the need for expert opinion in financial reporting would be reduced. In addition, accounting firms, courts, and other regulatory bodies should take severe measures to stop creative accounting practises and punish individuals culpable. The potential for further research was also explored.

Keywords: Auditing, Creative Accounting, Representation, Accounting Standards, Corporate Reporting




The Effect of Cashless Policy on the Growth of Small and Medium Enterprises (SMEs) in Afikpo North Local Government Area of Ebonyi State


Eze Ifeanyi Sylvanus; Akputa Godwin Onya; and Elom Sampson Omena (PhD)

Department of Social Sciences, Akanu Ibiam Federal Polytechnic, Unwana, Ebonyi State



The study examined the effect of cashless policy on the growth of Small and Medium Enterprises (SMES) in Afikpo North Local Government Area of Ebonyi state. The study adopted descriptive survey design for the study and simple percentages was used for analyzing the data.The main purpose of the study is to find out the effect of cashless policy on the growth of Small and Medium Enterprises (SMES) in Afikpo North. From the findings, it was observed that cashless policy has a negative effect on the growth of SMES in AFIKPO North which was attributed from unawareness, corruption and network problems. The study recommends among others that government should collaborate with central Bank of Nigeria (CBN) in providing infrastructure for the improvement of network in Nigeria and increase the efficiency of existing anti craft agencies previously established by Government.

Keywords: Cashless, Policy, Government, Growth, SMES



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