Browsing by Author "Obadeyi, J. A."
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Item Banking Sector and Hospitality Industry in Ondo State: Issues and Challenges(American Journal of Tourism Management, 2016) Okhiria, A.O.; Paul, Philemon W.; Obadeyi, J. A.; Afuye, Folake O.The study examined banking sector and hospitality industry in Ondo state: issues and challenges. Hospitality industry has remained one of the exciting and rewarding industries in Ondo state, but currently faced with a challenge like unavailability of funds from the banking sector to fund the sector; while recent issue on economic recession presently experienced in the country has further hindered the performance of the sector in terms of reduced local tourists patronizing and the low profit being realized by operators. The banking sub-sector has remained the major funds provider via financial intermediary process ensuring funds availability for the development of hospitality sub-sector (i.e. casinos, hotels, boarding houses, motels, tourist camps, holiday centres, resorts, bars, cafeterias, snack bars, pubs, nightclubs etc., to owners (i.e. ether individuals, group of people or corporate organizations). It was believed that sectors like, agriculture, energy, micro, small and medium enterprises (MSMEs), oil and gas etc., enjoyed more finance assistance from banks than the hospitality industry in Ondo state, Nigeria. The primary source of data adopted was via a structured questionnaire and interview. The statistics that was adopted to estimate the parameter were mean, variance and standard deviation. Also, to determine the standard error, δ√N was adopted. A simple regression was also used to address the responses of the respondents gathered though the questionnaire in order to derive logical conclusion for the study. The result showed that the dwindling trends in the hospitality sector was a result of banks’ restrictive lending patterns by not making funds (e.g. loans) available to achieve development in the industry, unbearable cost of funds and high interest rate charged. The paper recommends that policy makers should periodically evaluate the impact of bank - related policies on the sustainability of hospitality sector and ensure that the hospitality regulatory process is simple, cost effective and consolidated with economic palliatives to proffer solutions to socio-economic challenges facing the country particularly during this period of recession.Item Evaluating Microfinance Banks’ Capacity to Purvey Credits to Micro and Small Enterprises (MSEs) in South-West, Nigeria: Adopting Financial Ratio Technique(IISTE : European Journal of Business and Management, 2018) Obadeyi, J. A.; Oladejo, Moruf O.,; Adesuyi, I. O.Despite the review of Microfinance Banks (MFBs) regulatory and supervisory policy framework in the banking sub-sector in Nigeria, microfinance banks (MFBs) have not satisfied the intended purpose(s) for which it was created in 2005; such as provision of income, creation of employment opportunities and reduction of poverty among unbanked segment of the economy. This has further led to the premature death and untimely liquidation of micro and small businesses because many micro and small business owners found it difficult to access credits from MFBs. This problem has remained a major concern for stakeholders. In view of this, this paper intended to evaluate microfinance banks’ capacity to provide credits to Micro and Small Enterprises (MSEs) in South-West, Nigeria; using financial ratio technique for a period of ten (10) years (2007 – 2016). The study used secondary data that was collected via the financial statements of eight (8) microfinance banks in Lagos–West Senatorial District (5 MFBs) and Ogun Central Senatorial District (3 MFBs). The MFBs were selected through purposive sampling. Data gathered was analyzed via the use of Capital Adequacy Ratio (CAR). Findings showed mixed results as CAR values varied among the selected MFBs. The MFB with the highest CAR was valued at 203% while the lowest CAR valued at 21.2%. CAR benchmark set by Central Bank of Nigeria (CBN) for MFBs was 10%. This explained that the MFBs under consideration were financially strong to provide credits to MSEs’ operators. However, the paper recommended that MFBs should have access to Microfinance Development Funds (MDFs) to further strengthen their liquidity capacity in order to purvey more credits to micro and small entrepreneurs and regulatory authorities should review the current microfinance regulatory framework on a regular basis with global standard.Item Evaluating the Impact of Monetary Policy on the Growth of Emerging Economy: Nigerian Experience(American Journal of Economics, 2016) Obadeyi, J. A.; Okhiria, Adebimpe O.; Afolabi, Victor K.The study evaluated the impact of monetary policy on the growth of emerging economy: Nigerian experience. It was not a gain saying that monetary policy played significant roles in any country’s financial growth and development both in high and low income economies, but are constrained by fiscal dominance, high cost of funds, high inflation etc., but exchange rate, interest rate, money supply and foreign reserve are some of the significant monetary policy indicators that can ascertain national economic growth. The study covers between 1990 and 2012, the scope is considered because it fell within the era of market-based monetary period. Automated Statistical Package Technique (ASPT) was used to analyse the model. The Ordinary Least Square (OLS) technique was adopted in the study in order to assess the relationship among the economic variables. The paper concludes that the major problem of monetary policy was as a result of the CBN’s inability to control the money supply and bank credits, which were very essential for measuring and proffering solution to the substantial credit spreads between short-term central bank policy rates and the rates facing households and firms in the economy. The study recommended that the government should implement countercyclical policy that would lead to the desired expansion of output (and employment); though, it entailed an increase in the money supply, which would also result in an increase in prices, but policymakers should commit to holistic policies, rules and regulations that would remove full discretion in adjusting monetary policy.Item Microfinance Institution (MFIs) and Survival of Micro and Small Enterprises (MSEs): Empirical Evidence of TraderMoni Scheme Beneficiaries in South-Western Nigeria(Advances in Social Sciences Research Journal, 2021-03-25) Adamolekun, Wole; Obadeyi, J. A.; Ogbeide, Sunday Oseiweh; Akande, A. A.Deregulation in Microfinance Institution (MFIs) in accordance with regulatory policy architecture since 2005 has not fully stimulated sustainability towards the informal system due to the inability of MFIs to access funds and government to judiciously administer credits to beneficiaries of various schemes; this has led to the partial collapse of some schemes in Nigeria; despite Government good intentions of creating employment and alleviating poverty. In view of this, this study assessed Microfinance Institution (MFIs) and Survival of Micro and Small Enterprises (MSEs): Empirical evidence of tradermoni scheme beneficiaries in South-Western Nigeria. The study adopted Tedeschi model (2006) that examined incentives available for borrowers to repay loans. Furthermore, reference was made to Markov Chain model to investigate the response of individual borrower as an applicant and beneficiary of tradermoni scheme in the context of this study. Eighteen MFIs were sampled from 2009 – 2020. Panel data was adopted for the study. The result showed mixed influences of MFIs on survival of MSEs. We are hopeful that findings of this paper would help to fill the existing gap on the influence of MFIs on the survival of MSEs.