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Article
Publication date: 26 February 2021

Ese Urhie, Ogechi Chiagozie Amonu, Chiderah Mbah, Olabanji Olukayode Ewetan, Oluwatoyin Augustina Matthew, Oluwasogo Adediran, Oreoluwa Adesanya and Adeleke Adekeye

This study aims to analyze the effect of banking technology [automated teller machine (ATM) and mobile cellular devices (MOBs)] and other traditional factors on the level…

Abstract

Purpose

This study aims to analyze the effect of banking technology [automated teller machine (ATM) and mobile cellular devices (MOBs)] and other traditional factors on the level of currency in circulation for a sample of 21 selected sub-Saharan African (SSA) countries. It also assessed the mitigating effect of education on the relationship between banking technology and the cashless economy.

Design/methodology/approach

The study used a panel data approach to design a cashless economy model with banking technology – ATM and MOBs – as well as their interaction with education as regressors.

Findings

This study finds that MOB is significant for promoting a cashless economy, whereas ATM is insignificant in sample SSA countries. The level of education and the number of bank branches were also found to be significant in promoting a cashless economy. The interaction between education and ATM was insignificant but negatively signed, whereas that between education and MOB was significant but had a positive sign.

Research limitations/implications

Non-availability of data restricted this work to a panel study of selected SSA countries. Subsequent studies should consider single-country case studies.

Practical implications

Findings from the study imply that for banking technology to drive a cashless economy effectively, education has to be improved.

Originality/value

The ratio of cash in circulation to total money supply was used as a measure of the cashless economy. The study also evaluated the moderating effect of education on banking technology.

Details

Journal of Money Laundering Control, vol. 24 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 24 July 2020

Alexander Ehimare Omankhanlen, Ediomi Abasi-Favor Tometi and Ese Urhie

Many studies have traced the collapse of most banks in the past to weak corporate governance. In response to this, the Central Bank of Nigeria established a Code of…

Abstract

Purpose

Many studies have traced the collapse of most banks in the past to weak corporate governance. In response to this, the Central Bank of Nigeria established a Code of Corporate Governance which was made mandatory for all banks in Nigeria since 2003. Fifteen years after this provision the amount of actual loss attributed to financial malpractices in banks is still substantial. Available statistics show that the number of fraud cases has been on the increase in recent times.

Design/methodology/approach

This study examined the extent to which corporate governance has mitigated or moderated the effect of two macroeconomic factors – unemployment and inflation – on fraud in Nigerian banks. An interactive model was specified and estimated with PROCESS – a computational tool developed by Andrew Hayes.

Findings

The result revealed that while the structure of corporate governance by banks in Nigeria moderates the effect of unemployment, the reverse is the case for inflation.

Practical implications

This goes to show that the motivation factor stipulated by the fraud triangle theory holds sway in Nigeria.

Originality/value

It is recommended that efforts to bring a lasting solution to the challenge of financial malpractices in Nigerian banks must adopt a holistic approach.

Details

Journal of Money Laundering Control, vol. 24 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 30 June 2020

Olabanji Olukayode Ewetan, Romanus Osabohien, Oluwatoyin Augustina Matthew, Abiola Ayopo Babajide and Ese Urhie

The purpose of this paper is to examine the relationship between fiscal federalism and accountability in Nigeria. Corruption is a global plague and is endemic in nature…

Abstract

Purpose

The purpose of this paper is to examine the relationship between fiscal federalism and accountability in Nigeria. Corruption is a global plague and is endemic in nature. Several policies have been adopted by the Nigerian Government to institutionalize accountability and combat the scourge of corruption that have hindered socio-economic progress but to no avail.

Design/methodology/approach

Thus, this study examined fiscal federalism and accountability issues in Nigeria using secondary data and used the auto-regressive distributed lag econometric technique to analyse the data.

Findings

The results from this study reveal that fiscal federalism fails to mitigate corruption in the long run in Nigeria because of poor bureaucratic quality (BQ) and ineffective law and order (LOR).

Social implications

Fiscal decentralization must be accompanied by legislations that will strengthen BQ of fiscal institutions at subnational levels and promote effective LOR.

Originality/value

This study recommends that for fiscal federalism to mitigate corruption in the long run, government must adopt appropriate policies to improve BQ and further strengthen LOR in Nigeria. The finding also suggests that to promote public sector accountability in Nigeria, government should ensure the simultaneous decentralization of expenditure and revenue to lower tiers of government. This study provides detailed empirical evidence that fiscal decentralization without accountability will accentuate public sector corruption, and in the long run, weaken local economic development initiative to boost growth and development.

Details

Journal of Money Laundering Control, vol. 24 no. 2
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 30 March 2020

Oluwatoyin Augustina Matthew, Abiola Ayopo Babajide, Romanus Osabohien, Anthonia Adeniji, Olabanji Olukayode Ewetan, Omobola Adu, Folasade Adegboye, Felicia Omowunmi Olokoyo, Oluwasogo Adediran, Ese Urhie, Oluwatosin Edafe and Osayande Itua

The purpose of this paper is to examine the challenges of accountability and development in Nigeria. In the literature, corruption is seen as an indicator of a lack of…

Abstract

Purpose

The purpose of this paper is to examine the challenges of accountability and development in Nigeria. In the literature, corruption is seen as an indicator of a lack of political accountability in most countries of the world, especially in less developed countries such as Nigeria. The Nigerian Government has taken several actions to address the problems of bad governance and corruption that have impeded economic development, but unfortunately these measures have not yielded the desired results.

Design/methodology/approach

Thus, this study examined accountability and developmental issues in Nigeria using secondary data and then made use of the auto-regressive distributed lag econometric technique to analyze the data.

Findings

The results from the study found that a rise in total government expenditure poses a danger of reducing Nigeria’s economic development in the long run and that control of corruption and political (the institutional variables) has a direct and significant effect on Nigeria’s economic development.

Originality/value

Therefore, upon these findings, this paper recommended that for Nigeria to experience development, corruption should be eliminated, and the Nigerian Government should spend on viable projects and economic activities that will be beneficial to the populace and the society at large and hence bring about economic development. Accountability is the hallmark of a prudent government that ensures efficient management of resources and transparency in the utilization of funds by the government. The absence of accountability mechanism allows corruption to thrive, which hinders the developmental process.

Details

Journal of Money Laundering Control, vol. 23 no. 2
Type: Research Article
ISSN: 1368-5201

Keywords

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