Browsing by Author "Ogbeide, Sunday O."
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Item Are There Factors Driving Tax Aggressiveness in Listed Companies? Empirical Evidence from Nigeria('Wanted] international Journal of Management and Entrepreneurship, 2019-06) Ogbeide, Sunday O.This study investigated the factors driving tax aggressiveness of listed companies in Nigeria. A sample of sixty listed non- financial firms was selected for the study using the simple random sampling technique. The data were sourced from the annual reports of the sampled companies in the period (2010-2017) under reference. This study used the descriptive statistics and panel least square and dynamic panel regression methods to analyse the data. The findings from the empirical investigation indicate that managerial ownership and firm size exerts positive effects on tax aggressiveness. Board _size. board independence and leverage exerted negative impacts Off tax aggressiveness. The study concludes that board size, board independence and amount of leverage in firms contribute to the level of tax aggressiveness in Nigeria. Based on the robust empirical findings, the study suggests that quoted firms in Nigeria should ensure the composition of corporate board contains optimal mix of executive and non — executive directors who are professional accountants, tax experts, business strategists and legal experts. This calibre of persons should be able to bring their wealth of experience and training to positively influence key decision making regarding tax expenses minimisation and the strategies.Item BASIC FINANCIAL MANAGEMENT(Giegie Nigeria Innovations,, 2021) Ogbeide, Sunday O.The conceptualization of finance and management dynamics has moved from the realm of mystery to practical problematic, touching on issues such as the mathematics and management of finance, cash management and forecasting, inventory control and working capital management, investment appraisal decision, inflation and taxation in investment appraisal, risk and uncertainty in investment appraisal, financial leverage, capital structure decisions, cost of capital, financial ratio analysis and so on. This book has focused primarily on those issues, providing universal and non-abstract insight into them in a way that many scholars have failed to do. The book definitely stands out among others because it is original, indigenous, scholastic, current, comprehensible and thorough as it brings the reader to terms with the nitty-gritty of basic financial principles and practices that can be applied in the daily (business) activities of individuals and organizations. I am deeply persuaded that going by the content of this book and the high quality of the presentation of the materials therein, the book will be highly useful not only to the students in Tertiary Institution world-wide but also for Professional Examinations particularly in Nigeria such as those of the Institute of Chartered Accountants of Nigeria (ICAN), Chartered Institute of Taxation of Nigeria (CITN), Chartered Institute of Bankers of Nigeria (CIBN), Nigerian Institute of Management (NIM), Chartered Insurance Institute of Nigeria (CIIN) and Chartered Institute of Stockbrokers (CIS).Item CASH FLOW AND FINANCIAL PERFORMANCE OF INSURANNCE COMPANIES: EMPRIRICAL EVIDENCE FROM NIGERIA(STRATEGII MANAGERIALE, 2016) Ogbeide, Sunday O.; Eragbhe, E.; Ololade, Babatunde M.The study examines the relationship between cash flow and financial performance of insurance companies in Nigeria using time series data for the period 2009-2014. Twenty seven (27) listed insurance firms were selected as sample size. The study uses both descriptive and inferential statistics to determine the relationship among the variables. It also employs the series of diagnostic tests to ensure stability of the time series used as well as to ensure the model meets the assumption of OLS. The findings reveal that Cash flow was observed to determine insurance firms’ financial performance and is statistically significant. Cash flow from operating activities was observed to significantly increase financial performance of the insurance companies in the period examined. Cash flow from financing activities was found to increase the financial performance of the sampled insurance firms, but was not statistically significant. The size of the insurance company did not increase the financial performance of the insurance firms and was also not statistically significant. The paper recommends that managers in insurance firm should regularly change the extent of the cash outflows under each activity to avoid negative cash flow position as well as financial crisis. Adequate investment appraisal is really a concern that insurance firms need to take into consideration when customers are taking up insurance coverage. The costs have to be weighed against the benefits accruable therefore.Item CASHLESS POLICY AND BANKS’ FINANCIAL PERFORMANCE IN NIGERIA: : empirical assessment(SCR, 2017-07) Ogbeide, Sunday O.; Fapohunda, Modupe F.This study examined cash less policy and the financial performance of banks data for the period 2007 to 2016 for five variables representing about fifty (5 was generated from the Central Bank of Nigeria Economic Reports and Nig Corporation Annual Reports. The study used Augmented Dickey Fuller stationary state of the variables. It also employs the descriptive statistics a multiple regression method to analyze the data generated. The empirical find less policy largely determined the financial performance of banks in the Nige indicated by the coefficient of determination. The volume of Automated Tell and Point of Sales (POSVL) were found to increased banks financial pe statistically significant. Web based Technique volume and bank size w statistically significant on the financial performance of banks. The study there ATM centers/outlets should be opened by banks through the influence of the C in order to enhance the success of the cash less policy. Point of Sales sho business transactions by investors, the government and the general public at l would further deepen the penetration of the cashless policy.Item Corporate Borrowing and Firms' Growth in Nigeria: Empirical Evidence(Journal of Business and Value Creation, 2015-06) Ogbeide, Sunday O.; Okpamen, P.This study examined corporate borrowing and organizational growth in Nigeria. The ex-post facto research design was adopted in the methodology. The population consists of all quoted companies in the Nigerian Stock Exchange A sample of 40 companies was examined for 2012.2013 financial year Panel Estimated Generalized Least Squares (EGLS) regression with cross-section random effect. !he study showed that long term borrowings enhanced hints' growth and it is statistically significant. Similarly firm age positively enhanced from growth though it is founds be statistically insignificantly. Also interest charges determined organizational growth but were not statistically significant Premised on this, brans are strongly advised to always compare the marginal benefits of using debt financing to the marginal costs of debt financing before concluding on using it in financing their operation.Item Corporate Governance Mechanisms and Financial Performance of Listed Commercial Banks: Empirical Evidence from Nigeria(A PUBLICATION OF THE DEPARTMENT OF FINANCE & BANKING UNIVERSITY OF PORT HARCOURT, 2018-12) Ogbeide, Sunday O.; Ayunku, Peter E.This study examined corporate governance mechanisms and financial performance of Nigerian listed commercial banks. The population of the study consists of all the twenty five commercial banks in Nigeria. A sample of fourteen (14) commercial banks was selected and data were collected over the period 2010 to 2017. Inferential statistics consisting of Panel Estimation Least Square (ELLS) with fixed effect and the General Method of Moment were used for the data analysis. The results obtained reveal that corporate governance mechanisms exerted significant impact on commercial banks financial performance in Nigeria. Specifically, ownership concentration and managerial ownership were positive and significantly impact the financial performance of commercial banks in Nigeria whereas board size positively and significantly. impact financial performance of banks over the reference period. Board gender diversity and board independence were significant and exert negative influence on financial performance of the commercial banks in Nigeria. The study recommended that there has to be a designed framework to efficiently and effectively monitor the interaction between corporate governance and commercial bank financial 'performance. This will drastically minimized the tendency for them to engage in rent seeking behaviour.Item Corporate governance mechanisms and financial reporting quality of commercial banks in Nigeria(jssidoi, 2021-03) Ogbeide, Sunday O.; Ogiugo, Henry U.; Adesuyi, Isaac O.This study examined corporate governance mechanisms and financial reporting quality of listed commercial banks in Nigeria. The population of the study consists of all listed commercial banks on the stock exchange as at 31st December 2018. A sample of nine (9) listed commercial banks were selected and data were collected over the period 2008 to 2018. Descriptive statistics and panel Least Square regression were used for the data analysis. The findings reveal that board size and audit committee were negative and exerted significant impact on financial reporting quality of listed commercial banks while board independence is significant and exerts a positive influence on financial reporting quality of listed commercial banks in Nigeria. Female directorship does not have a significant relationship with financial reporting quality of listed commercial banks in Nigeria. The study therefore recommends that steps should be taken by regulators to stipulate stiffer penalty on firms engaging in earnings smoothing capable of undermining corporate governance ethics and framework for banks in Nigeria as this will serve as deterrent to others and further entrench sanity.Item Do Remittance Inflows Induce Inflation in Nigeria? An Empirical Analysis(CONFLUENCE JOURNAL OF ECONOMICS ALLIED SCIENCES (CJEAS), 2021-06) Ogbeide, Sunday O.; OLABISI, Olabode E.The aim of this study is to empirically investigate the Granger causality effect between remittance inflows and inflation in Nigeria. The motivation of the study was premised on the need to examine the nexus between remittance inflows and the rising inflation rate given the recent Central Bank ofNigeria (CBN) (2019) report of huge remittance inflows in Nigeria. The study employed pairwise Granger causality test, bound test and Autoregressive Distributed Lag (ARDL) approach' to examine both the short and long-run relationships between remittance inflows and inflation using annual time series data spanning from 2000 to 2018. The result of the pairwise Granger causality test showed no causality between remittance inflows and inflation in Nigeria. The bound test result indicates a long-run co-integration among the variables estimated in this study. The results of the control variables indicate that while money supply was signcant and induces inflation, capital stock exerted a negative effect. The error correction model has the expected negative and significant sign. This implies that about 64% of the errors in the short-run dynamics are corrected annually. The implication of this is that remittance inflows are not inflation inducing in Nigeria. Other determinants may be responsible for rising inflation in Nigeria. The study recommends that government needs to introduce an effective policy framework that will promote capital stock and other monetary policy transmission mechanism on the economy of Nigeria. This study has confirmed that in remittance inflows is not inflation inducing in the light of macro-economic instability in Nigeria.Item Do Sunspots and Bubbles Matter in the Capital Market? An Empirical Assessment from the Emerging Economy of Nigeria(KASU Journal of Economics and Development studies, 2020-12) Ogbeide, Sunday O.; Eburajolo, Courage O.The devastating implications of bubbles in an economy cannot be over emphasized. They erode the value of assets when market correction is observed. The empirical test and analyses of bubbles occurrence in the capital is yet to gain significant attention in the Nigeria clime. Against this background, this study assessed literature on sunspots and then empirically analyzed the existence of speculative bubbles with evidence from the Nigerian capital market. The study used data of remittances inflows (REMITR and foreign porfolio inflows (FPI) in the period 1990 to 2018. The surge and drastic decline of these financial assets within these periods informed the choice to empirically determine if it was speculative bubble driven and influenced. The Augmented Dickey Fuller unit mot and co-integration analyses were employed to validate the existence and likelihood of speculative bubble in the capital market of Nigeria. The empirical result is quite revealing in that it confirmed the existence and likelihood of speculative bubbles of the financial assets in the Nigerian capital market. The study recommends that investors in the capital market need to take caution in their investment decision regarding portfolio/securities in order to avoid loss of wealth and output. Investors should always understudy markets trends and the causes in an economy prior to committing their financial resources as this could save them from the consequences of losing their wealth in risky assets whose prices may or may not fundamentally be driven in the financial market. The study contributed to knowledge in the context of developing countries' like Nigeria in that it has established the existence and likelihood of speculative bubbles connected with foreign portfolio inflows and remittance inflows. It is suggested that future researchers need to focus research attention on the implication of remittances inflows on inflation and other monetary policy transmission mechanisms. As this will guide policy makers in fashioning out effective policies to gauge or carry out impact assessment in varying aspects of the Nigerian economy.Item Empirical Assessment of Firm Characteristics on Intangible Assets Disclosure in Nigerian Listed Firms(UIJMS_A MULTI-DISCIPLINARY JOURNAL OF MANAGEMENT SCIENCES, 2018-06) Ogbeide, Sunday O.; OLOLADE, Babatunde M.This study examined firm characteristics and the disclosure of intangible assets in Nigerian listed firms. The population of the study consisted of all the quoted firms as at 31' December 2016. A sample effort-two (48) quoted firms was selected for the period 2012 to 2016. Inferential statistics using Panel Estimation Least Square (EGLS) with fixed effect was used for the data analysis. The study found that firm size and profitability did not contribute to the disclosure of intangible assets and were not statistically significant in the study period. Auditor type contributed to intangible assets disclosure and was statistically significant. The age affirms was ascertained to increase intangible assets disclosure in Nigeria and was not Unison International Journal of Management Sciences (UIJMS) June, 2018 VOL III statistically significant. Leverage and ownership concentration decreased the disclosure of intangible assets in Nigeria and were not statistically significant. Therefore, the study recommended that Regulatory authority should make it mandatory for large and multinational quoted firms in Nigerian to always employ the service of the big (four) 4 auditor firms to promote the full disclosure of intangible assets.Item Empirical assessment of the effects of cashless policy on financial inclusion in the Nigerian emerging economy(Growing Science, 2019) Ogbeide, Sunday O.The present study examined the effects of cashless policy on financial inclusion in the Nigerian emerging economy. The necessary data were collected from the Central Bank of Nigeria Economic Reports as well as Statistical Bulletin and the ordinary least squares method was applied to analyze the data. The findings reveal that the cashless policy maintained a non-significant relationship with financial inclusion both in urban and rural areas of Nigeria. The findings show that the cashless policy had a significant effect on increasing customers’ deposits in commercial banks of Nigeria. Volume of Automated Teller Machine (ATMVL) maintains a positive and significant effect on financial inclusion indicators in urban center compared with the rural areas. Volume of Point of Sales (POSVL) shows more significant and positive influence on financial inclusion in urban area than the rural area. However, Web Based Technique (WBTVL) reveals a non-significant effect on financial inclusion both in urban and rural centers. The study therefore recommends that more branches of commercial banks and ATM centers/outlets should be opened in rural urban centers with efficient network systems and security in order to enhance banking penetration and by extension effectiveness of the financial inclusion and poverty reductions.Item Empirical Test of Market Microstructure Model in the Nigerian Stock Market(IJMA, 2022) Ogbeide, Sunday O.; Umana, Eem E.This study undertakes a test of market microstructure. The trading of securities in the stock market is usually carried out with appropriate models by investors and traders. Most often, the market is not always efficient due to market frictions like asymmetric information and transaction costs. Price discovery could be herculean to traders if there is no efficient market architecture and particularly, the market transparency component. To investigate how uninformed traders could be freed from price discovery problems, this study employed the Glosten- Milgrom information asymmetry model. The stock prices of twenty five quoted companies for the month of May; specifically 9th and 10th, 2017 were used. The study findings indicate that the model predicted accurately the prices of stock of about four (4) listed companies, thus defiling the random walk movement, while for about twelve companies, the model did revealed how current day’s stock price can be a bit high or low of next day’s price. Conclusively, this study has significantly contributed to knowledge by revealing how investors / uninformed ones in the Nigerian Stock Market can be informed and have a foreknowledge of next day’s stock price prediction though with slight difference or variation from the prior day’s price. It is therefore recommended that future researchers should explore the applicability of other models with a view to contributing to price discovery and in the reduction of asymmetry of information in the trading processes in the security market in NigeriaItem EXTENT OF IPSASS IMPLEMENTATION AND QUALITY OF FINANCIAL REPORTING IN MINISTRIES, DEPARTMENTS AND AGENCIES (MDAS): AN EMPIRICAL INVESTIGATION FROM A DEVELOPING COUNTRY(Fuoye Journal of Accounting and Management, 2023) Ogbeide, Sunday O.; Ogunmakin, Adeduro A.; Arijeniwa, Omolola J.This study investigated the extent of international public sector accounting standards (IPSASs) implementation and the financial reporting quality of Ministries, Departments and Agencies (MDAs) in Ondo State in the South-Western Nigeria. The population of the study comprises the two hundred and sixtyeight (268) Accountants and Internal Auditor of MDAs in Ondo state as obtained from the Ondo state Accountant general’s office. Sample size of two hundred (200) respondents, consisting of the professional accountants using purposive sampling method. Primary data collated from four-point Likerttype scale questionnaire was analyzed through descriptive statistics which include frequency distribution table, mean and standard deviation. The hypothesis was tested using the simple linear regression estimation method. Findings from the analysis showed that there is partial implementation of IPSASs by Ministries, Department and Agencies (MDAs) in the State. The finding indicated that few IPSASs were yet to be fully implemented. The analysis from the study indicated that the level of the IPSASs implementation so far is reasonably positive and significant on the financial reporting quality of the MDAs. The study recommends that personnel involved in the preparation and reporting of financial statement should be trained on how to effectively implement IPSASs in compliance with the trend in IFAC financial reporting convergence policy.Item Financial Soundness and Banking Sector Performance: Insights from Nigeria(THE NIGERIAN JOURNAL OF BUSINESS AND MANAGEMENT SCIENCE, 2018-09) Ogbeide, Sunday O.; Evbayiro-Osagie, Esther I.The banking sector is one of the significant sectors in any country; therefore its health and efficiency are crucial to the country. This study examined financial soundness and performance of banking sector in Nigeria. Time series data for the period 1990 to 2015 for five variables representing about twenty-five (25) annual observations was generated. The study used Augmented Dickey Fuller test to determine the stationary state of the variables. It also employs the ordinary least squares multiple regression method, co-integration and error correction mechanism to analyze the data generated. The empirical findings revealed that financial soundness largely determined the performance of banks in the Nigerian banking sector as indicated by the coefficient of determ ination both in the short-run and long-run. Similarly, a long-run relationship exists between financial soundness and banking sector performance in Nigeria. The current periods of capital adequacy ratio, ratio of non-performing loan to gross loan and liquidity were found to increase banks performance and were not statistically significant. In the long-run, only liquidity has a positive impact on banking sector performance was not statistically significant. The study therefore recommends that Central Bank Nigeria should put up constant review of minimum amount of capital requirement as this will reduce moral hazards by putting bank owners' money at risk.Item GOVERNMENT HEALTH EXPENDITURE AND LIFE EXPECTANCY IN NIGERIA EMPIRICAL ANALYSIS(Rhema University Journal of Management and Social Sciences, 2016-03) OGBONNA, G. N.; Ogbeide, Sunday O.This study has examined the nexus between government health finance and life expectancy in Nigeria. The study employs unit root test to determine the stationary state of the variables with the aid of Augmented Dickey-Fuller Test. It also employs the vectorauto regressive model (VAR) statistical technique to determine the dynamic relationship between the endogenous and exogenous variables. The findings emanating from the study indicate government recurrent expenditure on health engenders life expectancy. Premised on this, it is therefore recommended that the government of Nigeria should on yearly basis set aside greater proportion in the budget for health sector given that health persons (citizens) economy implies economy. Grants should be extended to medical practitioners for further training such that they can readily compete with their international counterparts.Item INTERNATIONAL FINANCIAL REPORTING STANDARD AND CORPORATE GOVERNANCE MECHANISMS ON AUDIT QUALITY OF LISTED FIRMS IN NIGERIA(ANAN and KSU_JOURNAL OF LEADERSHIP, ACCOUNTING DEVELOPMENT AND INVESTIGATION RESEARCH (JLADIR), 2020-07) Ogbeide, Sunday O.; Adesuyi, Isaac O.; Obayemi, Benjamin D.Corporate governance enhances the corporate responsibility of firms. This should reflect in the audit of firms, yet too little is known about the audit quality of non-financial firms in Nigeria in the context of international financial reporting standards (IFRSs) interaction with corporate governance mechanisms. It is against this backdrop, this study examines international financial reporting standard (IFRS) interacted with corporate governance mechanisms on audit quality of listed non-financial firms in Nigeria. The population of the study consists of all the listed non-financial firms in Nigeria. A sample of twenty-five (25) firms was selected for the period 2012 to 2018; representing about one hundred and seventy-five (175) annual observations. Inferential statistics consisting of panel generalized method of moment estimation method was used to undertake the data analysis. Findings reveal that IFRS interacted with board reputation capital, audit committee size, managerial ownership and ownership concentration towards enhancing audit quality value of the firms. In conclusion, IFRS interacted with corporate governance indicators to drive the audit quality value of listed firms in Nigeria. The study recommends to policymakers. regulators and academic researchers to always consider the impact of IFRS adoption when examining the corporate governance mechanisms on audit quality.Item MONETARY POLICY TRANSMISSION MECHANISMS, REMITTANCES INFLOWS AND ECONOMIC PERFORMANCE: EMPIRICAL ANALYSIS FROM NIGERIA(KSU RESEARCH JOURNAL OF ACCOUNTING AND FINANCE, 2020-12) Ogbeide, Sunday O.; Ganiyu, Mamudu O.Migrant remittance inflows have witnessed unprecedented surge over time in Nigeria in recent times. These remittances are commonly influenced through the monetary policy of the government towards driving economic' activities and performance in a county. Yet. link is known 011 the empirical front on the nevus between monetary• policy transmission mechanisms. diaspora remittances and economic performance. It is against this backdrop, this study is undertaken. The research used time-series data from 1960 to 2018 was sourced from the World Bank Indicators and Central Bank of Nigeria Statistical Bulletin. The study employed econometric techniques such as the Augmented Dickey-Fuller (ADP) unit root lest. correlation statistics. Granger causality test and the general method of moment (GMM) to analyze the data. The study finding showed that remittances inflows are a major driver of economic activities and growth in the Nigeria clime. Exchange rate exerted a positive impact on gross domestic product per capita growth in Nigeria. Both remittances inflows and exchange rate maintained a hi-directional causality with the performance of the economy of Nigeria. The studs' concludes that remittances inflows have a correlation with monetary policy transmission mechanisms towards enhancing the performance of the economy of Nigeria. It is therefore recommended that the government needs to create investors' friendly environment capable of encouraging migrants to channel their resources into the economy. This will help to boost economic activities. reduce the unemployment rale. increases savings. with the end goal of engendering economic performance of Nigeria. This study, therefore. suggests that the Central Bank of Nigeria CBN) should urgently come up with a policy framework that can increase the mutiny's capital stock instead of expending it as this has the capacity. f. influencing economic activities in the economy.Item OIL REVENUE AND PERFORMANCE OF THE NIGERIAN ECONOMY(JOURNAL OF ELSEARCH I MANAGEMENT AND SOCIAL SCIENCIES, 2016-12) Ogbeide, Sunday O.; Olaleye, John O.; Ikhu-Omoregbe, Godstime O.; Olubodun, Emmanuel I.The broad objective of this study examines oil revenues and performance of the Nigeria economy using times series data for the period 1980 to 2014. The ex-post-facto research design was adopted in the methodology of the study while secondary data were extracted from the Central Bank of Nigeria (CBN) statistical bulletin. The data analysis techniques employed is regression analysis using the ordinary least squares techniques. The study found a positive and significant relationship between oil revenue and economic performance of Nigeria. Gini coefficient was found to negatively affect economic performance of Nigeria and is statistically significant. Openness of the economy was positive and statistically significant Oil revenue was found to be positive and statistically significant. The conclusion drawn in this study is that oil revenues enhance the performance of the Nigeria economy in the period examined. The study recommends that proper and adequate improvement in the revenue generation via other sector in the economy is needed which can be achieved through diversification of the economy.Item Stock Returns of ‘Sin’ and ‘Non- Sin’ Companies in Nigeria: A Comparative Empirical Assessment(THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT, 2017) Ogbeide, Sunday O.; Umana, Emem E.; Ololade, Babatunde M.; Agbonibare, Fidelis O.This study comparatively analyzed the stock returns of sin and non- sin companies in Nigeria. The population of the study was heterogeneous consisting of all the quoted firms regarded as sin and the manufacturing ones at 31st December, 2016 which fall into the categories of non-sin companies. A sample of twenty-six (26) non-sin firms (manufacturing) and twenty-five(25) sin companies including banks was selected for the period 2010 and 2016. Summary statistics such as descriptive and correlation Statistics, Capital Asset pricing models (CAPM) and Panel estimation methods were used to analyze the data. The findings indicate that sin companies have higher stock return (excess returns), earnings per share but a lower dividend payment as against the comparables. Premised on these empirical findings, the study recommends that financial analysts should always encourage investors to invest more in selected companies regarded as sin based on their products and services than the non-sin companies due to better higher stock returns. Some of the companies considered as sin in terms of their production or services rendering need to be viewed differently by investors in that some of them in terms of exponential thinking are really not sin companies and as such investors have to exercise caution so as not be misled.Item University Funding and Financial Autonomy: Issues and Challenges for Public and Private Universities in Nigeria(JOHN ARCHERS, 2022) Fabayo, Joseph A.; Ololade, Moses B.; Ogbeide, Sunday O.THE employment of strategies for funding by university administrators to drive operations cannot be over emphasised. In the light of present-day economic challenges, where institutions, government agencies, departments and the government at the three levels are struggling to pay salaries and meet up with other administrative costs, private and public universities as well as colleges of education and polytechnics whose vision is skewed towards excellence and productivity, cannot afford to completely depend on tuition fee for financing and sustainability. The cause of financial setback in most tertiary institutions is premised on relying on one source of revenue generation. For most private universities, they mainly depend on fees from students, while for public universities, government monthly subventions and student tuition fees are predominantly the sources of revenue; yet, the challenges are continually on the ascendancy. Thus, the aim of this chapter is to x-ray factors driving university self–financing (funding) in the present-day university education system in Nigeria and financial autonomy of the universities including the challenges of universities’ funding and financial autonomy.