Browsing by Author "Ololade, B.M."
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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 Assessment of the Financial Information Disclosures of Pension Fund Administrators in Nigeria(International Accounting and Taxation Research Group, Accounting & Taxation Review, 2018-03-29) Salawu, R.O.; Ololade, B.M.The study investigates extent of compliance of Pension Fund Administrators in Nigeria with PENCOM financial information disclosures guidelines with a view to ensuring that there is transparency and accountability in the management of the contributory pension schemes. Data were collected from both primary and secondary sources. Primary data were sourced from four hundred (400) respondents that are retirees under the contributory pension scheme through administration of questionnaire while secondary data were gathered from the annual reports of eleven (11) Pension Fund Administrators that were purposively selected based on size of fund under management and number of contributions. Primary data were analysed using descriptive statistics while secondary data were analysed using disclosure index to measure the extent of compliance. The study found that 9 out of the 11 sampled Pension Fund Administrators did not achieve 100% compliance on disclosure of financial information in their annual reports in accordance with PENCOM guidelines. Also, the channels of communication of accounting information to members of contributory pension plans in Nigeria on the performance of the fund under management of the PFAs are not meeting members’ information needs. Furthermore, result showed that contributors displayed lack of knowledge of contributory pension schemes investment activities and risks. It was recommended that PENCOM should ensure compliance with the PENCOM financial reporting guidelines by the Pension Fund Administrators to enhance prudency and transparency in the management of contributory pension fund in Nigeria. Although annual reports are used by several users, yet contributors to contributory pension schemes as principals of the PFAs in agency relationship should be given more considerations in the choice of channels of communicating financial information to meet their information need and expectations.Item Behaviour of the Internally Generated Revenue during Financial Reforms in Nigeria(NIGERIAN JOURNAL OF PUBLIC SECTOR MANAGEMENT (NJPSM), 2022-02-01) Odewole, P.O.; Ololade, B.M.The study investigated the behavior of the Internally Generated Revenue among the federal institutions in both Education and Health Sectors during the on-going financial reforms in Nigeria. Data were gathered from the Audited Financial Statements of the public sector entities including the financial statements of individual MDAs from 2009-2016. The study population comprised of 118 institutions spread across the 4 geo-political zones and Abuja, the federal capital territory. The sample size was made up of 50 institutions using Taro Yamane technique. Data were analyzed using descriptive technique approach. The results revealed a positive behavior in the Internally Generated Revenue with the implementation of financial reforms. The study recommended the creation of a central compliance team by the Office of the Accountant-General of the Federation to ensure full compliance with financial management reforms to boost the Internally Generated Revenue in the sectors. The study concluded that it is only when all hands are on deck to ensure an appropriate legal and enabling environment for the implementation of financial reforms in all MDAs that the desired objectives of improved Internally Generated Revenue growth can be achieved in all sectors of the economy.Item EFFECT OF PAID ADVANCE PAYMENTS ON PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES (SMES): EVIDENCE FROM NIGERIA(Academy of Strategic Management Journal, 2022) Ololade, B.M.The study investigates the effect of paid advance payment on business performance of SMEs and identifies solutions to the effect of SMEs paid advance payments in Nigeria. The study adopts cross-sectional and survey research designs. Structured questionnaires were used to collect primary data from randomly selected SMEs that are appointed distributors of local corporate firms which operate in the foods, beverages, and breweries sectors of the Nigerian economy. The results reveal that paid advance payments of SMEs to their corporate firms’ suppliers for which goods are not supplied timely impact negatively on their business performance: It ties down their working capital which when it is a borrowed fund from financial institutions is at cost. It prevents the SMEs from doing other profitable businesses, reduces the business turnovers, increases the business cash conversion cycles, and invariably reduces the business’s profitability. In view of the financial power at the advantage of the corporate firms, it is recommended that government policies should mandate the corporate firms to publish the stipulated time they would deliver goods for all paid advance payments of the SMEs after taking into consideration the locations of the SMEs and transportation logistics. Thus, non-delivery of the goods within the published stipulated time would earn SMEs interest on their paid advance payment at Central Bank Nigeria (CBN) Monetary Policy Rate (MPR) for number of days the actual time of delivery is more than the published stipulated time. This is to discourage the tying down of the SMEs working capital.Item Overhead Grants' Usage and Educational Institutions in Nigeria: Data Envelopment Analysis Perspective(Archives of Business Research, 2022-03-25) Odewole, P.O.; Ololade, B.M.; Akande, A.A.This study appraised the utilization of overhead grants’ efficiency among federal educational institutions in Nigeria between2011-2019. Data for the study were sourced from the Annual Audited Financial Statements of the public sector entities. The sampled size for the study comprised (25) federal educational institutions out of 69 federal educational institutions drawn across the country among four (4) geo- political zones. Data were analyzed using Data Envelopment Analysis. The results of the average efficiency scores from both CCR and BBC models showed that the entities were averagely efficient in overhead grants’ utilization. Overall results showed that federal educational institutions have high capacity to absorb sufficient overhead grants from the center. The study therefore concluded that there is need for an improved overhead grants releases to the federal educational institutions to achieve effective service deliveries of their core mandates. The study recommended a continuous assessment and periodic appraisal of the overhead grants’ utilization among the institutions by their supervising ministry to achieve full efficiency.