Browsing by Author "Obadeyi, J.A."
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Item Assessing Banks’ Credits and Tourism Sector Development in Ifedore Local Government, Ondo State, Nigeria(International Journal of Innovative Research in Accounting and Sustainability, 2022) Ololade, B.M.; Adamolekun, W.; Obadeyi, J.A.The development in the tourism sector has been hindered by foreign exchange volatility, virus-outbreak (Covid-19), uncontrollable inflationary trends and inability of tourism operators to access banks’ credits. To this extent, this paper assesses banks’ credits and tourism sector development in Ifedore Local Government, Ondo State, Nigeria. The study adopts primary data that is collected via structured questionnaire. The purposive sampling technique was used to select 50 respondents which include; credit officers, head, credit department, operation managers (employees) of banks operating within the area and tourists that have visited any of these attraction centres in the local government. The collected data is analyzed through the use of descriptive statistics like tables, charts and percentages while inferential statistical method; Analysis of Variance (ANOVA) and one sample t-test were used to test the formulated hypotheses. The result reveals that credits are accessed by the sector at a very low trend. The paper recommends that banks should charge moderate interest rates on credits provided to investors towards the development and sustainability of tourism sector.Item Barriers of Microfinance Banks’ Credit Delivery to Small Enterprises: An Empirical Analysis from South-Western Nigeria(The Romanian Economic Journal, 2020-12-30) Obadeyi, J.A.; Ogbeide, S.O.; Akande, A.AThis study empirically investigated the barriers of Microfinance banks’ credit delivery to small enterprises in Nigeria. The areas of study were Lagos and Ogun States. The population of the study was made up of all the Microfinance banks in Lagos and Ogun States in the South –Western Nigeria. A sample of eight (8) microfinance banks were chosen; with five (5) from Lagos State and three (3) from Ogun State using the purposive sampling method. The choice of the sample size was predicated on ability of the researchers to access financial statements of the selected microfinance banks in the two selected states in the South – Western, Nigeria. Primary data was used through a structured questionnaire. Total of forty (40) questionnaires were administered to the respondents, consisting of MFBs staff – branch managers, operation managers, risk managers, and credit officers who examined and administered credit applications from small enterprises’ owners on behalf of bank management on a one-on-one basis. Mean ranking and factor analysis were used to analyze the data. Findings revealed economic recession as major barrier confronting MFBs in credit delivery to small enterprise owners. The study concluded that despite the roles of MFBs to provide loans and other financial services to small enterprises operators, the sector was faced with different barriers thereby limiting their financial performance. The study recommended that Central Bank of Nigeria (CBN) should adopt a holistic approach on how barriers confronting MFBs would be drastically reduced, controlled and managed to improve MFBs operations.Item Examining the Impact of Micro-Credits Financing on Small Scale Enterprises’ (SSEs) Survival in an Emerging Market, Nigeria.(Archives of Business Research, 2019-05-25) Obadeyi, J.A.; Adesuyi, I. O.; Olubodun, I. E.There were tens of thousands of small scale enterprises (SSEs) operating within business environment in Nigeria, but continuous under-development, inability to access loanable funds, lack of innovation and weak capital base have characterized the informal market and chances of survival have become doubtful and bleak. To this extent, the study examined the impact of micro-credits financing on SSEs’ survival in an emerging market, Nigeria. Primary source of data was through questionnaire. A regression method - simple Ordinary Least Square (OLS) method was adopted to analyze the responses gathered through the research instrument. The result showed that R2 = 0.846, which explained the variations in SSEs survival by micro-credit behavioral funding pattern of micro-banks; while overall result was statistically significant (p˂0.05). The paper concluded that SSEs were often used as indices to measure the level of industrialization. The paper however recommended that policymakers and other stakeholders sx hould consistently review policies guiding the establishment and operations of informal market in order to achieve the expected target of sustainability.Item The Impact of Interest Rates on the Development of an Emerging Market: Empirical Evidence of Nigeria(Journal of Economics and Sustainable Development, 2013) Obadeyi, J.A.The study reveals that interest rate is always difficult to forecast. Interest rates will probably rise with the removal of public sector funds from the industry. The interest rate (MPR) is the rate at which banks borrow from Central Bank to cover their immediate cash shortfall. The higher the cost of such borrowing, the higher also will be the rate banks will advance credit to the real sector. However, in the long-term, with re-capitalization on banks, insurance companies’ e.g. could begin to exploit economies of scale to compete on pricing and improve their deposit mobilization capabilities, which could positively affect interest rates. The Central Bank of Nigeria (CBN) has not formulated a model that will reduce interest rate, inflation and stabilize the exchange rate. However, a time series analysis was adopted for 40 years (1970- 2010).The Error Correction Modelling (ECM) was adopted to reconcile fluctuations or changes both in the short and long run between the variables. The result shows that due to the ability to estimates the parameters of Error Correction Mechanism (ECM), which is generally consistent, sufficient, significant and negative. The non-zero coefficient of ΔINTt and INFt in both ways, if statistically significant, will indicate a short-run causality from ΔINTt to ΔGcft as well as ΔINFt to ΔGDPt. The paper recommends that pragmatic approach needs to be adopted to ensure that the lending rates are reduced to single digit in order to reduce production cost, high unemployment rate and encourage Foreign Direct Investment (FDI). The monetary policy rate (MPR) at 12% (CBN, 2013) is too high for a developing economy such as Nigeria because it will have a negative impact on the naira exchange rate. Monetary and fiscal policies remain necessary and sufficient conditions for attaining a realistic interest rate performance. Interest rate management in a depressionary economy needs regular fine-tuning of relevant instruments by the monetary authoritiesItem Interest Rate Targeting: A Monetary Tool for Economic Growth in Nigeria? - Stakeholders’ Approach(Advances in Economics and Business, 2013) Obadeyi, J.A.; Akingunola, Richard; Afolabi, VictorThe paper assessed interest rate impact on economic growth in Nigeria, considering the stakeholders’ approach. The continuous increase in interest rate always results to a slow economic growth. It is believed that interest rate may not eventually lead to lull economy especially in industrialized economies because these economies do not totally rely on assembling and consumption of goods and services, but majorly on production and distribution of goods and services[1]. The study adopts simple ordinary least square method to identify existing relationship between variables. The regression results were significant and Error Correction Mechanism helped to correct the dynamism that might exist. The time series analysis was adopted for 40 years (1970- 2010), which shows evidence and supports that larger proportion of borrowing by Nigerian government, which are majorly financed by the apex bank has led to uncontrollable excess liquidity and inability of locally manufacturing firms, and small enterprises to raise loanable funds from banks. The paper therefore concluded that it will be difficult to generalize interest rate as equal either in developed or developing economies as result of the significant and un-comparable difference in social –economic belief, approaches and existing structures. It suggests that interest rate should play an un-comparable role in enhancing economic growth and sustainable activities in NigeriaItem Remittances, Monetary Policy Transmission Mechanisms and Economic Performance(Journal of Economics and Administrative Sciences, 2022-02) Ogbeide, S.O.; Olarinde, O.S.; Obadeyi, J.A.This study empirically investigated the impact of migrant remittances through monetary policy transmission channels on the economic performance of Nigeria. Previous impact and causality analysis show varied results for migrant remittances on the economic performance of Nigeria. There remains a dearth of studies investigating the impact of remittances on growth after accounting for its transmission effects on monetary instruments. Time series data from 1962 to 2020 from the statistical bulletin of the Central Bank of Nigeria (CBN) and the World Development Indicators were used in the causal research design as well as the correlation analysis, dynamic general method of moment (GMM) and Johansen co-integration technique. The research findings indicate that remittance inflows once interacted with exchange rate exerted a positive and statistically significant impact on the economic performance of Nigeria. Remittance inflow interacted with inflation rate had a positive yet insignificant impact on the economic performance of Nigeria. Monetary policy rate maintained a positive sign with significant impact on the economy of Nigeria; while capital stock investment exerted a negative and insignificant impact on gross domestic product per capita income of Nigeria. The study finds that the interaction of migrant remittances with monetary policy instruments is economically important to the per capita growth in Nigeria in the short and long-run. The study results confirm that the Central Bank of Nigeria (CBN), should continue to facilitate reducing costs of remittances as well as opportunities for diaspora investments, because of the impacts that remittances have on economic performance through other monetary variables.Item WOMEN ENTREPRENEURSHIP DEVELOPMENT AND WOMEN EMPOWERMENT IN ABEOKUTA SOUTH LOCAL GOVERNMENT, OGUN STATE.(1ST COVENANT UNIVERSITY INTERNATIONAL CONFERENCE ON ENTREPRENEURSHIP (CU-ICE) 2017, 2017-06-14) Obadeyi, J.A.; Oba- Abimbola, A.D.; Oladejo Moruf, O.There is a tremendous increase in the number of women who are now interested in becoming small business owners, starting up a business of their own. Women entrepreneurship in the informal sector has remained untapped source of job creation, business and financial opportunities, innovations and economic development globally. In view of this, the paper is examining the role of entrepreneurship development in enhancing women empowerment within Abeokuta South Local Government of Ogun State. Both qualitative and quantitative research methods were adopted. The study made use of primary data that was collected through structured questionnaire; and it was administered to two hundred and ten (210) female micro finance banks’ customers who were selected through purposive sampling. Analysis of the data gathered was carried out using descriptive and multiple linear regression analysis with the aid of Statistical Package for Social Sciences (SPSS) version 20.0. The result showed that women entrepreneurs were faced with various challenges such as capital, gender differences, meeting family needs etc. The paper concludes that entrepreneurship development will have a great impact on women empowerment if the society can bridge male-female education gap, create opp