₦airaland Forum

Abstract

The aim of the article is to provide a theoretical nexus between social values, deviance and security in Nigeria. In Nigeria today, society at large is threatened by deviance, crime, conflict and violence which are violations of societal values and norms of security and welfare of the citizenry. People now show an increased interest in personal well-being and a decreased interest in the welfare of others. Citizens are not safe and secure on the streets, in their homes and offices. The paper posits that there should be a renewed awareness regarding social values and norms of security and welfare of the citizenry as taking precedence over all other subjects. Societal values and norms, and security and welfare of all citizens must be articulated. The paper challenges the collective lethargy of the state and the citizenry about societal values, norms and security, and effective measures to protect the rights to living and well being of all members of society, and so maintain a safe and secure environment for all citizens.

 

 

 

TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content

CHAPETR ONE

1.0   INTRODUCTION 

1.1        Background of the study

1.2        Statement of problem

1.3        Objective of the study

1.4        Research Hypotheses

1.5        Significance of the study

1.6        Scope and limitation of the study

1.7       Definition of terms

1.8       Organization of the study

CHAPETR TWO

2.0   LITERATURE REVIEW

CHAPETR THREE

3.0        Research methodology

3.1    sources of data collection

3.3        Population of the study

3.4        Sampling and sampling distribution

3.5        Validation of research instrument

3.6        Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix

 

 

 

 

 

 

 

 

 

CHAPTER ONE

INTRODUCTION

Background of the study
 The security and welfare of the people shall be the primary purpose of Government (Federal Republic of Nigeria, 1999). But in Nigeria today the state and citizens are subjected to violations of core values and norms, and exposed to danger even by the very governments that are maintained with their taxes. The problem of security is more disturbing because government functions have been personalized by the ruling class, and national interest and security of the nation have been equated with interest of the privileged class and elites. It is common knowledge that the security organizations have distorted views of their constitutional roles, their commitment to the people of this nation, and their tendencies to be part and parcel of different regimes’ illegalities, oppression, exploitation and extortion of the common citizens (Imobighe, 2003). Deviance or crime is concerned with the process whereby values, beliefs, norms, actions or conditions come to be viewed as deviant or criminal by others. Deviance and crime can be observed by the negative, stigmatizing social reaction of others towards these violations. Criminality, corruption, conflict, cultism, violence and terrorism, and all illegalities, oppression, exploitation and extortion of the common man, can be deviant behaviours. The issue of power cannot be divorced from a definition of deviance or crime because some groups in society can deviantize or criminalize the actions of another group by using their influence on legislations (Goode, 2004). Psychopaths and sociopaths are some of the favourite “deviants” in contemporary popular culture. From Patrick Bateman in American Psycho, to Dr. Hannibal Lecter in The Silence of the Lambs, to Dexter Morgan in Dexter, to Sherlock Holmes in Sherlock and Elementary, the figure of the dangerous individual who lives among us provides a fascinating fictional figure. Psychopathy and sociopathy both refer to personality disorders that involve anti-social behaviour, diminished empathy, and lack of inhibitions. In clinical analysis, these analytical categories should be distinguished from psychosis, which is a condition involving a debilitating break with reality. Psychopaths and sociopaths are often able to manage their condition and pass as “normal” citizens, although their capacity for manipulation and cruelty can have devastating consequences for people around them. The term psychopathy is often used to emphasize that the source of the disorder is internal, based on psychological, biological, or genetic factors, whereas sociopathy is used to emphasize predominant social factors in the disorder: the social or familial sources of its development and the inability to be social or abide by societal rules (Hare 1999). In this sense sociopathy would be the sociological disease par excellence. It entails an incapacity for companionship (socius), yet many accounts of sociopaths describe them as being charming, attractively confident, and outgoing (Hare 1999).

Society is made up of individuals who share common culture, and occupy a particular geographical area, (Zanden, 1996). Notwithstanding the fact that, socialization process is a powerful mechanism, that shapes the behavior of people of, and living in the same society, the distinctive, and unique nature of human personality, make individuals from the same society to behave differently. As a result, some members of one, and the same society conform to the expected patterns of behavior, as dictated by culture of that society whereas, others deviate. Deviation from norms, and rules is what is referred to as deviance, and crime respectively. Conventionally, societies do not allow deviation, and crime unchecked. They do reward comformity for re- enforcement purposes, and condemn deviation for deterrence, and corrective reasons. According to Clinard and Meier, (1998), The notion of deviance is connected to that of social control, possibly because an act that violates a group’s norm is usually followed by the group’s reaction or sanction in a negative form.Chukwukere, (undated), argued that, as long as human society comprises individuals, and the relationship between these individuals components is generally guided by cultural norms and rules of behavior, and as long as the cultural norms are never observed by all the people involved in the society, culture must take deep interest in the diverse processes of social control. Chukwukere’s argument is cogent, taking into cognizance the constituted interplay between society and culture and the influence of the culture via socialization especially, culture’s tendency to impose social sanctions, by rewarding conformity, and punishing deviance.Tanimu, (2003),maintained the ubiquitous nature of deviance. Thus, it becomes an illusion to anticipate comformity by all members of the society. Having such a conception renders the universal nature of deviance questionable. Decades ago, Durkheim, acknowledged the impossibility of deviance or crime free society, especially in periods of rapid social change, or in his jargon, anomie. Consequently, he suggested a collectiveresponse to deviance – social control– toensure moral bound to boundless desires of individuals. Absence of crime or deviance, implies social solidarity, as there is complete consensus over norms and values. For Durkheim, though, this situation is not only impossible to achieve, but the very idea is not congruent with the values placed on individualism in a modern society.Thus, Durkheimasserted that the existence of crime is unavoidable, and as Roshier, pointed out, responses to it must be collective. In the specific case discussed by Erikson, it could be asserted that the deviance of the dissenting group was not a necessary precondition for the acceptance of the new moral boundaries. If no split had occurred, then expectedly,the moral boundaries would have been universally agreed upon, anyway.It should be noted that, deviance, crime, and social control or social sanctions are key areas of criminological enterprise.As Jock Young [1998:451] aptly opined, criminology in general has much to offer to social science: Many of us were attracted to the discipline [criminology] because of its theoretical verve, because of the centrality of the study of disorder to understanding society, because of the flair of its practitioners and the tremendous human interest of the subject. many of the major debates in the social sciences in the 1960s and 1970s focused quite naturally around deviance and social control (quoted in Bell, 2010:157). Similarly, Tierney (2010:1) shared the same view with Young by opening his introductory remark with the following argument: Since the late 1960s the area of study broadly described as criminology hasexpanded enormously in Britain. Nowadays all sorts of writers, researchers andteachers make many and varied contributions to issues of crime and social control,and represent various political and theoretical positions. This paperdiscusses social control, its genesis, typology, and some of its theoretical explanations. Much of the work has been adapted from Clinard and Meier’s, (1998), Sociology of Deviant Behavior, but other literature has beenreviewed to enrich the paper with adequate insight into the subject of social control, and related concepts

STATEMENT OF PROBLEM
The social understanding of the study of deviance and crime examine cultural norms; how they change over time, how they are enforced, and what happens to individuals and societies when norms are broken. Deviance and social norms vary among societies, communities, and times, and often sociologists are interested in why these differences exist and how these differences impact the individuals and groups in those areas. What is deviant to one group may not be considered deviant to another. Sociologists define deviance as behaviour that is recognized as violating expected rules and norms. It is simply more than nonconformity, however; it is behaviour that departs significantly from social expectations. Sociologists stress social context, deviance is looked at in terms of group processes, definitions, and judgments and not just as unusual individual acts. Furthermore, they recognize that established rules and norms are socially created, not just morally decided or individually imposed. It is in view of the above that the researcher intend to explore the nature and consequences of labeling deviant in Nigeria.

OBJECTIVE OF THE STUDY
The main objective of the study is to investigate the nature and consequences of labeling deviant in Nigeria. But to aid the completion of the study, the researcher intend to achieve the following specific objectives;

To ascertain the consequence of labeling deviant in Nigeria
To evaluate the social consequences and implication of lebeling deviant in Nigeria
To examine the relationship between Social Values, Deviance and Security in Nigeria
To examine the implication of labeling deviant in Nigeria society
RESEARCH HYPOTHESES
The following research hypotheses were formulated by the researchers

H0: there is no significant relationship between Social Values, Deviance and Security in Nigeria.

H1: there is a significant relationship between Social Values, Deviance and Security in Nigeria.

H0: there is no significant implication of labeling deviant in Nigeria society

H2: there is a significant implication of labeling deviant in Nigeria society

SIGNIFICANCE OF THE STUDY
It is believed that at the completion of the study, the findings will be of great importance to security management agency as the study seek to explore the consequence of labeling deviant in Nigerian society, as the study intend to give insight into the psychological implication of labeling deviant. The study will also be useful to researchers who intend to embark on a study in a similar topic as the study will serve as a reference point to further research. Finally, the study will be of importance to students, teachers, lecturers, academia and the general public as the study will add to the pool of existing literature on the subject matter and also contribute to knowledge.

SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers the nature and consequence of labeling deviant in Nigeria. But in the cause of the study, there were some constrain which limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Finance: Limited Access to the required finance makes it difficult to broaden the scope of the study;
 

1.7 OPERATIONAL DEFINITION OF TERMS

Deviant

In sociology, deviance describes an action or behavior that violates social norms, including a formally enacted rule, as well as informal violations of social norms

Behavior

Behavior  is the range of actions and mannerisms made by individuals, organisms, systems, or artificial entities in conjunction with themselves or their environment, which includes the other systems or organisms around as well as the (inanimate) physical environment.

Labeling

Labelling or labeling is describing someone or something in a word or short phrase. For example, describing someone who has broken a law as a criminal. Labelling theory is a theory in sociology which ascribes labelling of people to control and identification of deviant behavior.

 

 

Labeling deviant

In sociology, labeling theory is the view of deviance according to which being labeled as a “deviant” leads a person to engage in deviant behavior. Originating in Howard Becker’s work in the 1960s, labeling theory explains why people’s behavior clashes with social norms.

1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding.  Chapter five gives summary, conclusion, and recommendations made of the study





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CHAPTER ONE

INTRODUCTION 

1.1        Background of the study

1.2        Statement of problem

1.3        Objective of the study

1.4        Research Hypotheses

1.5        Significance of the study

1.6        Scope and limitation of the study

1.7       Definition of terms

1.8       Organization of the study

CHAPETR TWO

LITERATURE REVIEW

CHAPETR THREE

3.0        Research methodology

3.1    sources of data collection

3.3        Population of the study

3.4        Sampling and sampling distribution

3.5        Validation of research instrument

3.6        Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix

 

 

Abstract

This study is on usefulness of accounting standard in preparation of financial statement. The total population for the study is 200 staff of Guinness (Nig) Plc, Lagos. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made up production managers, human resource managers, senior staff and junior staff was used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies.

 

 

 

 

 

 

 

 CHAPTER ONE

INTRODUCTION

Background of the study
There have been quite a lot of criticisms in recent years about accountants and the financial report which they prepare.  A lot of people have had to question the validity of the profit measuring procedures applied in arriving at the profit measuring procedures applied in arriving at the profit disclosed in the published accounts. Consequently, the profession has found it necessary to do a re-appraisal of the accepted procedures, which had found it necessary to do a re-appraisal of the accepted procedures, which had hitherto dominated accounting field in profit measurement. Quite a member of proposals has made an attempt in reforming the methods generally in use.  This has resulted in the coming together of different countries with a view to working out modalities for the standardization of these profit measuring and reporting procedures.  This gave birth to the International Accounting Standards Committee (IASC) and local bodies like the Nigerian Accounting Standard Board (NASB) for Nigeria. The International Accounting Standards (IAS) to be followed by all member countries of which Nigeria is one.  Nigeria on the other hand produces additional Statements of Accounting Standards on Accounting Standards (SAS) in an attempt to make the International Standards meet local conditions. The Nigerian Accounting Standard Board (NASB), which was inaugurated in September 1992, was charged with the following responsibilities.

a) To formulate and publish in the public interest accounting standards to be observed in the preparation of financial statements and to promote the general acceptance and adoption of such standards by prepares and users of financial statements.
b) To promote and sponsor legislation when necessary in order to ensure that standards developed and published by the board received nation-wide acceptance adoption and compliance.
c) To review from time to time the standards developed by the board in the light of change in the social, economic and political environment. since 1982 till date, the board has issued statements of accounting standards and two drafts at completion stages.  The standards so far issued by the board are:-
SAS  1        –        Disclosure of Accounting Policies

SAS  2        –        Information to be disclosed in financial statements

SAS  3        –        Accounting for property, plant, and equipment

SAS  4        –        On stock

SAS  5        –        On construction contracts

SAS  6        –        On extra-ordinary items and prior year adjustment

SAS  7        –        On foreign currency conversion and transactions

SAS  8        –        On accounting for employees retirement benefits

SAS  9        –        On accounting for depreciation

SAS  10      –        Accounting by banks and non-bank financial institution

(part 1).

SAS  11      –        On leases

SAS  1        –        On accounting for deferred taxes

SAS  1        –        On investment

SAS  14      –        On petroleum profit

This work intends to analyze and examine usefulness of these standards in the financial statements with particular emphasis on Guinness Nig. Plc Enugu City. Guinness (Nig) Plc, is one of the biggest breweries in Nigeria today.  It is a quoted company in the Nigerian Stock Exchange Commission (SEC).  Guinness (Nig) Plc is an associated of Guinness overseas ltd, with headquarters at Dublin in England. The journey of this company to Nigeria started in 1950 when the company was incorporated to import and distribute Guinness Stout from Dublin for sale in Nigeria.  In 1962, the stout brewery in Ikeja Lagos, was commissioned. This station was the third of it kind in the world and the first outside the British Isles.  A second brewery in Nigeria was commissioned in Benin and from 1982 other breweries stations was commissioned including in other states. The company share capital is made up of 60% ordinary share owned by Nigerians and 40% ordinary shares owned by Guinness overseas limited.  The Enugu Department which happens to be over study interest has a staff strength of about 10000 workers including both skilled and unskilled workers. The accounts section of the brewery share of the total staff strength is about 200 workers.  The accounting department which is charged with the responsibility of providing management with relevant financial information that enable her (management) make decisions, also maintains and keep proper books of accounts which are summaries of the daily financial activities of the company.  Another major responsibility discovered within this accountant department is the preparation of the financial statements annually, which most be in compliance with the requirement of statements of Accounting Standards which external auditor must confirm and report on.

STATEMENT OF THE PROBLEM
“Good accounting practice” means that the accounts must be prepared in compliance and in line with the Statements of Standards Accounting Practice (SSAP), International Accounting Standards (IAS), and Statement of Accounting Standard (SAS). Thus, the burden of this investigation is to find “Good Accounting Practice” is being adhered to in the preparation of the financial statement and its benefits.  The researcher’s aims at achieving this by conducting special  investigation on the requirements of the accounting standard and then relates it to the activities of preparing financial statement at Guinness (Nig) Plc.

OBJECTIVE OF THE STUDY
The objectives of the study are;

To ascertain the effects of the standards on the Nigerian economy
To determine the extent of compliance of the financial statement in the accounting standards.
The benefits or uses of the standards in other areas like students and lecturers.
RESEARCH HYPOTHESES
For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H0:     Accounting standards have not played useful role in the preparation of financial statement of the company.

H1:   Accounting standards have played useful role in the preparation of financial statement of the company.

H02:   Accounting standards does not aid the users of financial statements to understand the financial statement to get better understanding of it.

H2:   Accounting standards does aid the users of financial statements to understand the financial statement to get better understanding of it.

 

SIGNIFICANCE OF THE STUDY
The accounting standards are developed to ensure a high degree of standardization in the published financial statements.  They provide the necessary information about low accounting information should be prepared, presented on order to enhance the value of its contents and facilities thorough understanding.  The significance of this study to the academic world cannot be over-emphasized as this topic is becoming more important to students of accounting and allied courses and they are usually subject of examinations.  For example, many examination questions of Institute of Charted Accountants of Nigeria (ICAN) and other bodies like the Institute of Bankers are directly based on the contents of these standards and their applications in preparing financial statements. This study is intended to be benefit to the “prepares and users” of accounting information who interpret and proper understanding of the financial statement and use the information to derive decision in making managerial decisions for the interest of the organization. This study is also intended to highlight the significance of accounting standards in the Nigeria economy. One most important significance of this study is revealed to the management of Guinness (Nig) Plc, Enugu City on the importance and economic effect of applying accounting standards in preparation of financial statements and also to act as guide to the accounting staff of the organization, its usefulness and compliance procedures.  Infact, this work would be very valuable to all accounting officers in their task of preparing financial statements. Finally, this study would also serve as reference literature to further researchers on usefulness of accounting standards.

1.6 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers usefulness of accounting standard in preparation of financial statements. The researcher encounters some constrain which limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities
1.7 DEFINITION OF TERMS

ACCOUNTING STANDARD: Accounting standards are authoritative standards for financial reporting and are the primary source of generally accepted accounting principles (GAAP).The AcSB has adopted International Financial Reporting Standards (IFRSs) as the accounting standards to be used by publicly accountable enterprises.

FINANCIAL STATEMENT: Financial statements are a formal record of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form easy to understand

1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding.  Chapter five gives summary, conclusion, and recommendations made of the study


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TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content



CHAPETR ONE

1.0 INTRODUCTION

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research Hypotheses

1.5 Significance of the study

1.6 Scope and limitation of the study

1.7 Definition of terms

1.8 Organization of the study

CHAPETR TWO

2.0 LITERATURE REVIEW

CHAPETR THREE

3.0 Research methodology

3.1 sources of data collection

3.3 Population of the study

3.4 Sampling and sampling distribution

3.5 Validation of research instrument

3.6 Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix

















Abstract

This study sought to establish the relevance of International Financial Reporting Standard (IFRS) to small scale enterprises in Nigeria. The international accounting standard board (IASB), in its objectives and preamble, suppose that the beneficial effects from IFRS adoption include transparency, accounting quality and reduced cost of capital. Based on these assumptions, this study applied timeliness, simplicity/ understandability, quality, transparency and comparability to find out whether the adoption of IFRS has relevance to small scale enterprises in Nigeria. The study employed multiple regression analysis and the findings showed that there is a positive significant relationship between the variable timely preparation of financial statement and the adoption of IFRS. The study concluded that the adoption of IFRS is a big move for the firms, accounting regulatory body and the government in Nigeria because the benefits are more than the demerits as discussed earlier in this report. However, the study recommended that the government should introduce some incentives to motivate the SMEs or introduce compulsory adoption of these standards to ensure that all SMEs adhere to the adoption



CHAPTER ONE

INTRODUCTION

Background of the study
Government at all levels in Nigeria have in recent times emphasized on the diversification of the economy through the promotion of small and medium scale enterprises. The importance of small and medium scale enterprises to the economic development of any country whether developed or developing cannot be over-emphasized. They are the driving forces of economic and industrial development. To a large extent, small and medium scale enterprises play significant role in improving the living standard of the citizens of any nation by creating goods and services, stimulating private ownership and entrepreneurial skills, creating sources of revenue to both individuals and government developmental purposes, creating employment opportunities and aiding the development of indigenous technology. According to Adelaja (2014) SMEs are generally seen as labour intensive, capital saving and capable of helping create most of the one million new jobs the world will need by the end of the century.

Owing to the enormous benefits inherent in the development and sustainability of small and medium enterprises, government through the Small and Medium Scale Enterprises Development Agency of Nigeria (SMEDAN), Manufacturers Association of Nigeria (MAN), and other organizations such as the International Accounting Standards Board (IASB) have been on the vanguard of exploring possible means of promoting the activities of SMEs. According to Osotimehin (2012), no other development strategy has enjoyed as much prominence in Nigeria’s development plans as the Small and Medium Scale Enterprises (SMEs) development strategy.

The international Accounting Standards Board (IASB) in July, 2009 introduced the International Financial Reporting Standards (IFRS) for Small and Medium Scale Enterprises (SMEs) as a way of enhancing the activities of small and medium scale enterprises through improved accounting and reporting practices. IFRS for SMEs is a self-contained set of accounting principles that is based on full IFRS but has been simplified for SMEs (Deloitte, 2010).

Accounting and reporting information is a critical component of an enterprise business decision-making strategy. Accounting and reporting information enables an enterprise to perform the function of measuring its financial standing, assessing profitability and cash flow. Good accounting and reporting information can also help an enterprise in accessing funds both locally and internationally. As a result of the importance of SMEs to the economic and industrial development of Nigeria and the role of accounting and reporting information in enhancing the activities and growth of any enterprise, it becomes very pertinent to examine the relevance of IFRS for SMEs to Small and Medium Scale Enterprises in Nigeria, using selected enterprises in Benin, Edo State as case study.

1.2 Statement of Problem

All over the world, including Nigeria, greater emphasis have been on the growth and development o SMEs due to their contributions to economic, industrial and infrastructural development of any country.

However, according to Deloitte (2012), Nigeria has joined the league of Nations reporting IFRS and currently in her second phase of IFRS implementation with first phase drawing to a close on 31st December, 2012 when all listed and significant public entities are expected to produce first IFRS financial statements.

With the issuance of IFRS for SMEs by IASB in July, 2009, SMEs in Nigeria are also expected to adopt and implement IFRS in the preparation and presentation of their financial statements. This research work is thus intended to examine/assess the relevance of IFRS for SMEs to Small and Medium Scale Enterprises in Nigeria and to offer suggestions and recommendations on how enterprises can benefit from the adoption of IFRS for SMEs with reference to the selection and study of some SMEs in Benin metropolis. More so, this research is intended to bridge the gap in knowledge of IFRS and its importance to SMEs in Nigeria.

1.3 Research Questions

In relation to the objective of the study, the following research questions are addressed:

Are Small and Medium Scale Enterprises in Nigeria aware of the introduction of IFRS for SMEs?
Are accounting and reporting practices of Small and Medium Scale Enterprises in Nigeria in accordance with IFRS for SM Es?
Are IFRS for SMEs adoption relevant to Small and Medium Scale Enterprises in Nigeria?
1.4 Objective of the Study

The broad objective of the study is to examine the relevance of IFRS to Small and Medium Scale Enterprises in Nigeria with particular emphasis on Small and Medium Enterprises in Benin metropolis.
Specifically, the objective of this study are to:

Ascertain whether SMEs in Nigeria are aware of the introduction of IFRS for SMEs.
Determine whether SMEs in Nigeria have already adopted 1FRS for SMEs.
Investigate if IFRS for SMEs are relevant to Small and Medium Enterprises in Nigeria.
1.5 Statement of Hypothesis

The study seeks to test the following hypotheses:

Hypothesis One

HO: SMEs in Nigeria are not aware of the introduction of IFRS for SMEs.

HI: SMEs in Nigeria are aware of the introduction of IFRS for SMEs.

Hypothesis Two

HO: SMEs in Nigeria do not carry out their accounting and reporting practices in accordance with IFRS for SMEs.

HI: SMEs in Nigeria do not carry out their accounting and reporting practices in accordance with IFRS for SMEs.

Hypothesis Three

HO: The adoption of IFRS for SMEs is not relevant to Small and Medium Enterprises in Nigeria.

HI: The adoption of IFRS for SMEs is relevant to Small and Medium Enterprises in Nigeria.

1.6 Significance of the Study

This study would be beneficial to practitioners, academicians, management of SMEs government and interested researchers in the following ways;

To practitioners and academicians: this study provides useful information about the relevance of IFRS to SMEs in Nigeria.
To management of SMEs: This study provides information about the theoretical and actual benefits and challenges of adoption of IFRS for SMEs.
iii. To government, IFRS regulatory body and management of SMEs, it helps them to be aware of the perceived and actual benefits and challenges in the adoption of IFRS by SMEs and give insights on how to benefit from IFRS not effectively.

To interested researchers, it help others that are interested in conducting detailed and comprehensive research study on the relevance of IFRS and SMEs in Nigeria to have a spring board to initiate their study on.
1.7 Scope of the Study

The topic International Financial Reporting Standard (IFRS) in SMEs in Nigeria is a wide and complex one. In this study the researcher is quite aware that the study is supposed to be a comprehensive survey of all small and medium enterprise in Nigeria but this could not be possible due to the fact that time and cost does not permit the researcher to move from one enterprise to the other.

However, the study has been designed to study selected small and medium enterprises in Benin metropolis. Only companies that fall within range of small and medium scale enterprises and are located within Benin metropolis are considered in this study. That means companies that are listed on the Nigerian Stock Exchange and publish their financial statements to the public are not covered in the study. A sample size of 50 was employed for effective result.

1.8 Limitations of the Study

This study is mostly limited by scope. The following are the limitations of this research study;

The research is for small and medium enterprises in Nigeria but by design is limited to selected small and medium enterprises in Benin metropolis. This is a small population of the small and medium enterprises operating in Nigeria.
There are larger concentrations of small and medium enterprises in towns like Lagos, Onitsha, Aba and Kano. It therefore becomes difficult to generalize the outcome of this research on the whole population of SMEs in Nigeria.
Another limitation of this study is the difficulty in obtaining data.
Most SMEs do not know the importance of keeping proper books of accounts.
Lack of co-operation from management of SMEs is another trend as most of them are not willing to give their firms financial information, thinking that if might be misused by their competitors and fear of being reprimanded by their employer.
1.9 Definition of Terms

IFRS: This means International financial Reporting Standards. IFRS is used interchangeably with IFRS for SMEs which is the abridged version of the International Financial Reporting Standards for Small and Medium Scale Enterprises.

SMEs: this means Small and Medium Scale Enterprises, that is, not quoted privately owned enterprises that do not publish their financial statements to the public.

IASB: this means International Accounting Standards Board. It is the body responsible for publishing and reviewing of international accounting standards.


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TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research Hypotheses

1.5 Significance of the study

1.6 Scope and limitation of the study

1.7 Definition of terms

1.8 Organization of the study

CHAPETR TWO

LITERATURE REVIEW

CHAPETR THREE

3.0 Research methodology

3.1 sources of data collection

3.3 Population of the study

3.4 Sampling and sampling distribution

3.5 Validation of research instrument

3.6 Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix



















Abstract

The study investigated the impact of liquidity management on financial performance of insurance companies in Nigeria between. The study made use of variables such liquid asset, equity capital, dividend, working capital, investment, under-writing risk and size of the firm in the model. Return on asset ROA is used as the dependent variable and it measures the financial performance. Regression analysis was adopted to estimate the model and the results showed that liquidity management has not been having significant impact on insurance company’s performance like equity management which affects long term stability. Again, both investment and working capital are shown to have significant positive impact on financial performance of insurance companies in Nigeria. It is recommended that insurance companies should place more priority on their equity capital which is having negative impact on their performance rather than liquidity management since they are less involved with liquid cash unlike commercial banks.





CHAPTER ONE

INTRODUCTION

1.1 Background of the study

Primarily, the liquidity management duty is to determine the needs for funds to meet financial obligation and ensure the availability of cash or collateral to fulfill those need as at when due, this is done by coordinating the various sources of funds available to the institution under normal and stressed conditions. It relies on the daily assessment of the liquidity conditions in the insurance system, to determine its liquidity needs and thus the volume of liquidity to allot from the market. Management of liquidity involves a daily analysis and detailed estimation of the size and timing of cash inflows and outflows over the coming days and weeks to minimize the risk that savers will be unable to access their deposits in the moment they demand them. Thus, liquidity is lifeblood of an insurance system. The problem of insufficient studies of the assessment of the relationship between liquidity management and the performance of Insurance companies in Nigeria calls for more work under the subject matter. The assessment of liquidity management in relation to performance becomes imperative as a result of Insurance Market Review in 2009. The National Insurance Commission (NAICOM) makes it important to examine the management of liquidity in Insurance companies in Nigeria. Theoretical studies and empirical evidence have shown that countries with better developed financial system enjoy faster and more stable long-run growth of which insurance companies contribute to. Well-developed financial markets have a significant positive impact on total factor productivity, which translates into higher long-run development. Based on Solow‟s (1956) work, Merton (2004) noted that due to the absence of a financial system that can provide the means of transforming technical innovation into broad implementation, technological progress will not have significant and substantial impact on the economic development and growth. Therefore, the studies on the relationship of liquidity management and performance especially in insurance companies is not conclusive and more empirical evidences are needed to establish the sources of insurance liquidity and identify the strategies adopted by insurance companies in the management of liquidity, the relationship that exists between the sources of insurance liquidity and performance.

The heart of corporate finance literature is based on long term investment, capital structure and various validation methods. These have been the focus of intention of many researchers in the past. In short, it concerns the long-term financial decisions. On the other hand, it is believed that financial decisions of short-term assets and short-term liabilities management also influence the stock price. These decisions are vital because they demonstrate the financial stability of the firm and the market which develop the perception about the firm accordingly (Afza and Nazir,2008). An efficient working capital management can create value for stakeholders while a deprived policy or inefficient management might affect the business in an appalling way and might cause a financial distress. Working capital management is among the four cardinal decision areas of financial management, for which every commercially oriented organization has to make (Pandey, 2005). Working capital components of a firm’s financial management deals with liquidity aspect of a firm and hence fundamental for the effective and efficient operations as well as the sustainability of its going concern status (Enyi 2006). Working capital and liquidity could mean one and the same thing and relate to the management of current assets and current liabilities of an enterprise. This synonymy is based on the observation that working capital ratios are the most common measures of liquidity (Lamberg and Valming,2009). Liquidity management determines to a large extent the quantity of profit that results as well as the value of shareholders’ wealth (Ben-Caleb,2008). For a firm to survive, it must remain liquid as failure to meet its obligations in due time, results in bad credit rating by the short-term creditors, reduction in the value of goodwill in the market and ultimately lead to liquidation(Bhavet 2011). Hence, a good and firm financial management policy seeks to maintain adequate liquidity as to meet its short-term maturing obligations without impairing profitability. Short term signifies obligations which mature within one accounting year. It also reflects the operating cycle: buying, manufacturing, selling and collecting cash. A firm that is unable to pay its creditors on time and continue to fail its obligations to suppliers of credit , services, and goods can be sick or bankrupt. Inability to meet the short-term liabilities may affect the company’s operation and reputation also. Lack of cash or liquid assets on hand may force a company to miss the incentives given by suppliers of credit, services, and goods which result in higher cost of goods and in turn affect the profitability of the business. So there is always a need for the company to maintain certain degree of liquidity. However, there is no standard norm for liquidity. It depends on the nature of the business, scale of operations, location of the business and many other factors. Every stakeholder has interest in the liquidity position of a company. Suppliers of goods will check the liquidity of the company before selling goods on credit. Employees also have interest in the liquidity as to know whether a company can meet its employees’ related obligations in terms of salary, pension, provident fund, etc. Shareholders are interested in understanding the liquidity due to its huge impact on the profitability. They may not like high liquidity as profitability and liquidity are inversely related. However, they are also aware that non-liquidity will deprive the company from getting incentives from suppliers, creditors, and bankers. Liquidity management is a concept that is receiving serious attention globally mostly with the current financial situations and the state of the world economy. The concern of business owners and managers all over the world is how to devise a better strategy of managing their day to day operations as to meet their obligations as they fall due and increase profitability and shareholders’ wealth. Liquidity plays a significant role in the successful functioning of a business firm. Its study is of a major importance to both internal and external analysts due to its close relationship with day-to-day operation of business (Bhunia,2010). Dilemma in liquidity management is to achieve desired trade-off between liquidity and profitability(Rahemen et.al.,2007). Unfortunately, the principal focus of most organizations is profitability maximization while the need for efficient management of liquid assets is ignored. This approach is justified by the belief that profitability and liquidity are conflicting goals. Hence, a firm can only pursue one at the expense of the other, in consonance with the theory of liquidity and profitability trade-off. On the contrary, Padachi(2006) advised that a firm is required to maintain a balance between liquidity and profitability while conducting its daily operations. This is because both inadequate liquidity and surplus liquidity directly affect profitability (Ogundipe , Idowu and Ogundipe (2012). On the other hand, an insufficient working capital, results in a liquidity crises which is life threatening , and can force a firm into bankruptcy, often with little notice. This also affects the returns of the firm. Liquidity requirement of a firm depends on the peculiar nature of the firm and there is no specific rule on determining the optimal level of liquidity that a firm can maintain as to ensure positive impact on its profitability. Certain measures of corporate profitability include Return on Investment(ROI), Return on Equity(ROE) and Return on Assets(ROA). Hence this paper is to investigate the impact of liquidity on return on assets on selected Nigerian firms listed on Nigerian Stock Exchange. Return on assets will all through be used as a measure of profitability. Secondly, the study aims at directing the attention to the importance of active management of liquidity

1.2 STATEMENT OF THE PROBLEM

Insurance industry plays a crucial role in fostering commercial and infrastructural businesses. From the latter perspective, it promotes financial and social stability; mobilizes and channels savings; supports trade, commerce and entrepreneurial activity and improves the quality of the lives of individuals and the overall wellbeing in a country (Malik, 2011). To achieve this role, insurance companies are expected to be financially strong and solvent enough through profitability in their operations. The poor performance of insurance firms in Nigeria as noted by Agabi (2009) stemmed from several years of non-payment of claims by underwriting firms. This tradition of defaulting in claims by insurance firms in Nigeria resulted in reduction of their goodwill which translated to poor image of the sector and as a result, confidence in the sector seems to have eroded significantly. As such, Nigerians no longer consider insuring their valuables due to confidence crisis in the sector. In Nigeria today, there are evidence of performance of several industries such as banking and other financial institutions, however, the insurance sector is not responding appropriately to economic growth due to confidence crises in the sector. This implies that the overall financial performance of insurance firms in Nigeria is weak except for those who have diverse sources of investment. Measuring the financial performance of insurance companies has therefore gained significant attention in the developed and some developing countries in the area of business and corporate finance literature. As underwriters, these companies are not only providing good mechanism for transferring risk but also help to boost entrepreneurial confidence in appropriate way so as to support investment growth and general economic activities. Profitability is a vital concern to all groups who have a direct or indirect interest in the firm. In spite of these vital roles that profit plays in the going concern of insurance firms, the profitability status of most insurance firms operating in Nigeria in relation to firm age, firm size, premium growth, loss ratio, liquidity and leverage of the firm have not attracted much attention of researchers in area of finance. This may be attributed to lack of thorough evaluation of factors that play critical role in profit realization of insurance firms in Nigeria. Therefore, it is of interest to know the extent to which firm specific characteristics (firm age, firm size, premium growth, loss ratio, liquidity and leverage) affect the financial performance of listed insurance firms in Nigeria.

1.3 OBJECTIVE OF THE STUDY

The main objective of this study is to examine liquidity management and firm value of listed insurance companies in Nigeria. But for the purpose of the study, the following specific objectives are put forward by the researcher;

i) To examine the impact of liquidity management on the performance of listed insurance firms in Nigeria.
ii) To ascertain the impact of premium growth rate on the performance of listed insurance firms in Nigeria.
iii) To examine if there is any relationship between liquidity management and firm’s value of listed insurance companies

iv) To evaluate the contribution of firm size to the performance of listed insurance firms in Nigeria
1.4 RESEARCH QUESTIONS

The following research questions were formulated by the researcher to aid the completion of the study;

i) Does liquidity management have any significant impact on the performance of listed insurance firms in Nigeria?
ii) Does premium growth rate influence the performance of listed insurance firms in Nigeria?
iii) Is there any significant relationship between liquidity management and firm’s value of listed insurance companies?

iv) Does firm size contribute to the performance of listed insurance firms in Nigeria?
1.5 RESEARCH HYPOTHESES

The following research hypotheses were formulated by the researcher to aid the completion of the study;

H0: there is no significant relationship between liquidity management and firm’s value of listed insurance companies

H1: there is a significant relationship between liquidity management and firm’s value of listed insurance companies.

H0: firm size does not contribute to the performance of listed insurance firms in Nigeria

H2: firm size does contribute to the performance of listed insurance firms in Nigeria

1.6 SIGNIFICANCE OF THE STUDY

This study is based on the fact that most empirical literatures on the firm liquidity management and firm value and are mostly focused on the insurance sector. By implication, researchers have not paid enough attention to this area in the insurance sector in Nigeria. That is, most empirical literatures are directed towards the sector and not banking sector. To the best of our knowledge, no or little is known about the insurance industry as far as the study under consideration is concerned, most especially from the perspective of an emerging market like Nigeria. This study therefore expected to provide empirical evidence on the firm value and liquidity management affecting the financial performance of listed insurance firms in Nigeria.

1.7 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers liquidity management and firm value of listed insurance companies in Nigeria, but in the cause of the study, there are some factors beyond the researchers control that limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Finance: the finance at the disposal of the researcher is a major constrain to the scope of the study, as the researcher could not cover more grounds for the study.
1.8 OPERATIONAL DEFINITION OF TERMS

Insurance

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured

Liquidity

Liquidity describes the degree to which an asset or security can be quickly bought or sold in the market without affecting the asset’s price.

Firms value

A firm’s value, also known as Firm Value (FV), Enterprise Value (EV) is an economic concept that reflects the value of a business. It is the value that a business is worthy of at a particular date.

Liquidity management

Liquidity management is a concept broadly describing a company’s ability to meet financial obligations through cash flow1, funding activities, and capital management.

1.9 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows. Chapter one is concern with the introduction, which consist of the (background of the study), statement of the problem, objectives of the study, research questions, research hypotheses, significance of the study, scope of the study etc. Chapter two being the review of the related literature presents the theoretical framework, conceptual framework and other areas concerning the subject matter. Chapter three is a research methodology covers deals on the research design and methods adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.



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Abstract

This research is on the importance of packaging of consumer good in Nigeria. Where by to find out the packaging strategies, understand the meaning, possibilities, advantages and effect of modern packaging structure in modern Nigeria market. This work covers the five chapters on deals with the introduction, background of the study, statement of the problems, purpose of study research question, scope and limitation of the study. Chapter two came up with the literature review which takes about various approaches to the definition of packaging importance strategy, social influence etc. chapter four explained the presentation and analysis of data hypothesis and decision findings. While chapter five is all about summary of findings recommendations and conclusion, after investigation and data analysis the findings stand the well articulated and designed packaging increase the sales volume of an organization.









TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content



CHAPETR ONE

INTRODUCTION

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research Hypotheses

1.5 Significance of the study

1.6 Scope and limitation of the study

1.7 Definition of terms

1.8 Organization of the study

CHAPETR TWO

LITERATURE REVIEW

CHAPETR THREE

3.0 Research methodology

3.1 sources of data collection

3.3 Population of the study

3.4 Sampling and sampling distribution

3.5 Validation of research instrument

3.6 Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix

















CHAPTER ONE

INTRODUCTION

Background of the study
In the world of marketing packaging of product is a very and vital name of no doubt. Play a significant role in effective marketing of product especially consumer goods. In marketing a consumer is said to be kind and as such, much effort is made to draw the attention of this king to every individual firm. Many firms have confirmed that packaging has been playing and inestimable role on consumer perception and selection retention.
Packaging has now become a distinct areas study in the marketing department of some universities like Michigan state university. Rochester institute of technology and others certain mechanical devices are presently in use to determine or final use its critical protect it against all external forces that may be acting on the product while in transit despite that a product needs to be adequately packaged organizations need not to over package their products.
The packages to the product do not only perform protective functions it also provide some promotional functions.
According to Okafor and Ugiagba (2004:187-88) said that even before organization started the packaging of their products packaging has already being in existence. God in his creation gave an initial package to the following: Tomatoes, Mangoes, eggs, onions, oranges, carrots, cabbage, maize etc. By his actions, God highlighted the importance of product packaging. Packaging can be thought of as a system of building blocks. The smallest size units are the retail or consumer packages or cartons one seas on the shelves of stores. The building block hierarchy is important to remember because each of the different building block is inside one another and their total effect must be to protect the product. According to Kottler P. (1993:237) many marketer thus product pricing promotion and packaging that make up marketing thus product pricing promotion and packaging that make up marketing elements of the firm.
Also, technology and civilization have their own impact as regards the state of the product packaging care Product Company like PZ cusson industry unit ever etc. Employ high technology equipment and techniques in the design and production of product packages. However, of the two companies maintained above, PZ cusson industry Plc, Aba firms the reference point. It is used on seeking to know and express the factor that are essential in modern product packaging techniques and as well find out the impact of product packaging on the volume of sales of this firms.
Joy toilet soap and elephant blue detergent are two different product altogether although they do almost the same work.
The product of toilet soap or soaps generally is known as specification which is the reaction between caustic soda and oil to provide soap which is been processed with chemicals like titanium dioxide that make it soft skin mild tender and gentle on both the skin and fabrics.
The importance of packaging being carried out by researchers inform of wrapper or carton container plays an important role in the marketing of consumer goods, marketing companies and as well as the consuming community to identify suitable package for them to undertake further market research to identify more packaging materials and process.

STATEMENT OF THE PROBLEM
Many packaging strategies has been adopted 3d by PZ Cusson in resent years leading to a proliferation of this category of packaging it is really necessary to find out and evaluate the extent of the effect of this proliferation on marketing of consumer products. The problem of this study posed as question includes;

How effective are packaging in the marketing to consumer product.
2. The right material to be most appropriately use for packaging and be able to withstand competition.
3. How to use packaging to minimize damage.
4. How effective is packaging as a tool to increase sales volume.
1.3 OBJECTIVE OF THE STUDY

In the world of business which takes place in dynamic and competitive environment, packaging has assumed a major and auxicillary role of conformity and profitability of every consumer product growing concern therefore, the extent to which packaging as an important tool, affect the marketing of consumer goods.
The following were in this research work.
1. To verify whether packaging plays a significant role on sales volume and profitability.
2. To identify whether packaging serves the purpose of appeal to consumers.
3. To verify whether packaging creates utility of consumer goods.
4. To verify whether those firms consider packaging a major determinant of product identification on the marketing or their goods.

1.4 RESEARCH QUESTIONS

The questions stated below were below were postulated for verification in this study;

What influence has packaging on sales volume and profitability?
2. What is the role of packaging in creating utility product definition, storage and dispensing?
Does packaging ease the problem of product identification during purchase?
4. Are packaging strategies of different consumer packaged goods of PZ Cusson Plc flexible enough to accommodate the numerous types of product in our economy?
Does competition influences the use of packaging on sales volume
1.5 RESEARCH HYPOTHESES

The following research hypotheses were formulated by the researcher to aid the completion of the study;

H0: competition does not influences the use of packaging on sales volume

H1: competition does influences the use of packaging on sales volume

H0: packaging does not have any significant relationship between sales volume and profitability

H2: packaging does have a significant relationship between sales volume and profitability

1.6 SIGNIFICANCE OF THE STUDY

This proposed research generally, would be of both theoretical and practical significance. Specifically, the significance of this proposed research includes: Students and marketers are likely to benefit from the proposed research

This research would provide relevant knowledge to marketers and students on the importance of product packaging

Marketers and students would learn how to make packaging strategic plans Marketers and students would gain knowledge on consumers’ behavior

1.7 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers the relevance of packaging in the marketing of consumer’s goods in Nigeria, but in the cause of the study, there are some factors that limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities
1.8 OPERATION DEFINITION OF TERMS

Packaging

Packaging also refers to the process of designing, evaluating, and producing packages. Packaging can be described as a coordinated system of preparing goods for transport, warehousing, logistics, sale, and end use.

Marketing

Marketing refers to the activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people.



Consumer goods

A consumer good or final good is any commodity that is produced or consumed by the consumer to satisfy current wants or needs. Consumer goods are ultimately consumed, rather than used in the production of another good

1.9 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study



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Abstract

The role of information technology in marketing of goods and services in Nigeria information technology produces better means of living, since data are easily and comfortably conveyed through online. The introduction of information technology will have better prospect in marketing of goods and services. Certainly this is bound to lift the Nigeria market to a more efficient and effective one. The objective of this work includes; finding out the means through which information is gotten and stored in the commodity market. Another objective is to find out how they are being applied in-marketing of goods and services etc. This research is designed using descriptive survey. The sample size for this study has to do with (30%) marketing managers (20%) researchers and then (50%) respondents and all are equal to 100%. The sample technique used is random sampling technique and then the method of data, under primary we have questionnaire and personal interview while under secondary we have libraries newspapers, periodicals etc.







CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Information is a vital tool in almost all fields of human endeavour and based on this one can simply say that a free flow of information is a necessary condition for a healthy business organization. This is so, in that the lack of information in an organization, will heritably lead to inefficiency of that organization and subsequent collapse of the system. This explains why information technology has been much such after by both private business and government parastatals.

Even ordinary individuals go about seeking for one means or the other through which they can receive information like in the installation of computers and internets in their offices. Even in the installation of cable in different hours, these were done due to much quest for information.

Over the years, governments as well as business organization has been experiencing a chain of technological innovations particularly in the areas of communication. This is as a result of much quest for information technology which is due to the complex and competitive nature of every business. This has led to the introduction of the latest technologies especially as they regards to communication case transaction and dissemination of information.

No one doubts the value of information technology (IT) in a modern day economy because the world is increasingly growing into a global village and the degree of interaction and inter dependence occasioned by this lined, cannot be possible without line flow of information.

Arguably, the impact of information technology is mostly felt in the sphere of marketing of goods and services in a globalize lined economy, prospects exchanges international and multinational agencies and all these, cannot be possible without efficiencies and modern information gadgets.

In Nigeria, the management and marketing of goods and services generally, are still in their lowest, it is not that the individual or cooperate bodies in the country do not need them, rather the information to determine the choice, the range, the price and the availability of commodities are simply lacking, moreover, the ever increasing marketing agents are not helping matters. These bodies of persons are bare literates who conveniently do the traditional methods of information management.

It is the submission of this paper that the awing gaps (i.e. the dearth of information in the Nigerian marketing of goods and services) can only be filled by a mansion introduction of information technology.

We also contend that when this is done, the nation’s marketing of goods and services will not only compete admirably with other viable industries in the country but also that the incidence of none-professional marketing agents would have been properly checked.

1.2 STATEMENT OF THE PROBLEM

The marketing of goods and services in Nigeria, is still developing, the development is hampered by two major problems which are as follows:

a) Lack of adequate information which determines the availability, range, nature and price of goods and services in the Nigerian market.
b) The incidence of non-professional marketers in Nigeria.
Therefore, this paper seeks to address the two impediments in the Nigerian marketing, since we have already found out that the dearth of information in marketing of goods and services has led to the inefficiency of the market.

1.3 PURPOSE OF THE STUDY

The aim, is to determine the relevance of information technology to an effective practice of marketing management.

To achieve this aim, the following objectives, will be established:

i) To find out the means through which information is gotten and stored in the commodity market, before this time i.e. the old method of information storage.
ii) To find out how they are being applied in marketing of goods and services.
iii) To find out the latest technology which has been widely introduced within the market.

iv) To find out the impacts or roles which it has created so far in marketing of goods and services in Nigeria.
1.4 SIGNIFICANCE OF THE STUDY

This study is of particular importance to marketing managers who are the main operators in the marketing of goods and services interest. This is because they have the fundamental knowledge and technical knowhow, which is needed to operate in this aspect of marketing.

The need to ascertain the means of disseminating information that would enhance the efficiency and productivity of marketing managers is essential when one realizes the importance of goods and services to humanity. It will retrieve the importance of the information technology innovations in the areas of computer, telephone, internet etc. which could help in solving the insurable problem of information dearth which has remained the bare in the marketing of goods and services.

1.5 RESEARCH QUESTIONS

Is information technology important in the marketing of goods and services?
Do you think that the presence of information technology, gives a better result that the absence of it in marketing?
What are the problems militating against effective research operations in the marketing of goods and services in Nigeria.
What are the impacts of goods information technology on the performance of the marketers?
1.6 SCOPE/DELIMITATION OF THE STUDY

The research is confined to the relevance and extent of information technology in marketing of goods and services in Nigeria. The work does not consider the extent of information so far outside Nigerian shores. However, a comparative analysis is made where necessary.

Limitation of the study

This study, is limited to Enugu state due to some limiting factors which include the following:

Transportation problems encountered while traveling to and fro the different towns and state in the study.

Unwillingness of some respondents in answering certain questions. The attitude of some of them were non-chalets and found it difficult to release necessary information needed for this research work due to the level of crime in the country.

Language barrier: all these notwithstanding, the research is carried out to the best of our knowledge and ability.



1.7 DEFINITION OF TERMS

Goods and services: These are tangible and intangible good that are produced and purchased in order to fulfill the needs and desires of consumers. Goods are simply any tangible product that can be seen and touched. Services are intangible support that is provided to the consumer in some managers.

Goods and services market: This is a market, which deals with rights and interest in goods and services. It is also a market through which buyers and sellers of a particular goods and services comes together to determine a prize at which a certain goods and services can be exchanged.

Technology: This is the application of applied science to practical problems especially in the industrial process.

Information technology: Oxford dictionary defines information technology as the use of electronic equipment or device especially computers for showing, analyzing and distributing information of all kinds including words, numbers and pictures.





1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study. Chapter two highlight the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.


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CHAPTER ONE

INTRODUCTION

Background of the study
Banking industry is an important sector in the business world which has a growing impact on all other sectors of the economy because of financial services provisions. In this volatile situation financial institutions were not left out as they are seriously affected by the level of competition both locally and internationally. The banking industry environment today is highly volatile; Nigerian banks therefore needs to develop effective technique to enhance the interaction of customers and the bank staff. The complexity in the banking industry has made bank managers to focus on how to create close affiliation with their customers. No wonder why Nigeria banks now create a separate department in the bank known as customers care unit to address customer issues and complaint in order to ensure that customers get value for their money thereby enhancing customer loyalty, building and maintaining customer’s cordial relationship in order to achieve an advantage that can lead to customer retention and increase profitability. Furthermore, loyal customers can provide the foundation for growth which leads to competitiveness in the industry. Also, the belief that relationship marketing (RM) investment builds stronger, more trusting customers relationship (Morgan and Hunt 1994) and improves financial performance (Schroder and Lacobulli 2001) has led to massive spending on customer relationship programme. Sheth (2005) also opines that customer relationship marketing would result into customers’ retention which has to do with creating relationship, Customers loyalty which has to do with developing relationship, and customer interaction may lead to customer retention. Considering the above arguments, Nigeria banks now adopt relationship marketing principles and design strategies to achieve and maintain close and long lasting relationship with the customers.

Customer relationship management has come to represent more balanced emphasis on continuing relationships rather than simply having individual transactions. The higher the rate an organization practices good customer relationship, the higher would be the rate of customer loyalty to its brands or products. Ragins and Greco (2003) noted that CRM offers organizations’ several advantages and benefits. They opined that a committed customer has an emotional attachment to the seller. These emotions can include trust, likings and believing in the organization’s ability to respond effectively and promptly to customer’s problem. A customer can be viewed as an organization’s asset because they are likely to be a source of favourable word-of-mouth referral. A new customer can only be made through a complex process of creating awareness of the existence of the firm’s products and channels of distribution (Achumba, 2004). Therefore an organization will improve sales, profit and market share by increasing customer’s identification and retention through effective and efficient CRM. Customer satisfaction has also been linked to increase in organizational financial performance and the practice of CRM (Teikomensah, 2014). Chi & Gursoy, (2009) in their studies similarly noted that there exist a relationship between customer satisfaction employee and a variety of company performance metrics at the firm level of analysis. They also found that although customer satisfaction has positive significance impact on financial performance, employee satisfaction has no direct significant impact on financial performance. Similarly, Anderson et al, (1994) and Ohaka (2015) identified strong positive relationship between customer satisfaction, market share and profitability. The outcome of this study will be useful to students, scholars and future researchers. Furthermore, it will encourage employers and employees and other stakeholders to appreciate the need for relationship management of customers, which will enhance the banks market share and impact positively on the attainment of the organization objectives

STATEMENT OF THE PROBLEM
Complexity experienced in banking industry today makes bank managers to be desperate such that ‘Bank A’ manager does not only see ‘Bank B’ manager as competitor but a branch manager of the same Bank sees each other as a competitor. This level of competition has made bank managers to focus on how to be in a close contact with their customers in order not to lose their active customer to their presumed competitors. Bank services are increasing in Nigeria, yet the level of failure in their services indicate that ineffective relationship with customers seems to be pronounced. Such a gap indicates that there is much to learn about how to develop close contact with customer using the appropriate relationship strategies. Banks generally today has become a chameleon in nature thereby changing from one service provision to the other, most time combining many services together relocating or establishing another branch so as to meet the needs of their customers and to show to the generality of public that their services are unique and better than the others. However, these services or branches established have not translated to customer satisfaction as customers’ experienced human traffic while trying to access these services. This has destabilized customers thereby forcing them to open more than one account across the banking industry in order to satisfy their financial need. This movement of customers from one bank to the other has created serious apprehension among the banks executives thereby leading to the provision of customers’ service point in most bank branches across the country for the purpose of having a relationship that can lead to a consistent patronage by their customers. It is on the basis of the inability of Nigerian bank managers to take cognizance of the impact of customer relationship marketing on bank performance in unity banks

OBJECTIVE OF THE STUDY
The main objective of this study is to ascertain the impact of customer relationship marketing practice and performance of banks in Nigeria. But for the purpose of the study, the researcher intends to achieve the following objective;

To ascertain the impact of customer relationship marketing on banks performance
To ins
To investigate the effect of customer relation marketing on the growth of unity bank
To ascertain the relationship between customer relation marketing and profitability of the banks
To ascertain the effect of customer relation marketing on the efficiency of the banks
RESEARCH HYPOTHESES
For the purpose of the study, the following research hypotheses are formulated by the researcher;

H0: there is no significant impact of customer relationship marketing on banks performance

H1: there is a significant impact of customer relationship marketing on the performance of the banks.

H02: there is no significant relationship between customer relationship marketing and the profitability of the banks

H2: there is a significant relationship between customer relationship marketing and the profitability of the banks.



SIGNIFICANCE OF THE STUDY
It is believed that at the completion of the study, the findings will be of great importance to the managers of unity banks as the study will emphasized on the tremendous benefit of customer relationship marketing which the bank can take advantage off. The study will also be of great importance to the head of marketing unit in the banks, as the marketing technique adopted has to change from the traditional marketing technique to a more focus customer relationship driven so as to wear off competition from other banks, study will also be beneficial to researchers who intends to embark on study in similar topic as the study will serve as a guide to their study. Finally the study will be beneficial to academia’s students and the general public schools

SCOPE AND LIMITATION OF THE STUDY
The scope of this study covers the customer relationship marketing practice and performance of unity banks. But in the cause of the study, the researcher encounters some constraint which limited the scope of the study;

(a)Availability of research material: The research material available to the researcher is insufficient, thereby limiting the study.

(b)Time: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.

(c)Finance: The finance available for the research work does not allow for wider coverage as resources are very limited as the researcher has other academic bills to cover

1.7 DEFINITION OF TERMS

Customer

a customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product or an idea – obtained from a seller, vendor, or supplier via a financial transaction or exchange for money or some other valuable consideration. An ultimate etymology of “client” may imply someone merely inclined to do business, whereas a purchaser procures goods or services on occasion but a customer customarily or habitually engages in transactions (historically: the collection of tolls or taxes – see the Wiktionary etymology of customer). Such distinctions have no contemporary semantic weight.

Marketing

Marketing is a form of communication between you and your customers with the goal of selling your product or service to them. Communicating the value of your product or service is a key aspect of marketing.

Banks

A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries.

BRIEF HISTORY OF UNITY BANK
Unity Bank commenced Operations in January 2006 following the Merger of Nine Financial Institutions with Competences in Investment, Corporate and Retail Banking. Today, Unity Bank is one of Nigeria’s leading Retail Banks with 240 business offices spread across the 36 States and Federal Capital Territory. We are Nigeria’s 7th largest bank by business locations.

Unity Bank is one of the largest employers of labour in Nigeria and a major contributor to its gross domestic product (GDP). The Bank employs over 2,000 people. We are driven by the Vision to be The Retail Bank of Choice for all Nigerians and this is at the core of all that we do.

Our new Head Office is located at Plot 42, Ahmed Onibudo Street,Victoria Island, Lagos with a Head Office Annex at 290A Akin Olugbade Street, Victoria Island, Lagos. Welcome to a Bank where Succeeding Together is how we do business

ORGANIZATION OF THE STUDY
This research work is organized in five chapters, for easy understanding, as follows Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study. Chapter two highlight the theoretical framework on which the study its based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion and also recommendations made of the study.

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TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content

CHAPETR ONE

1.0 INTRODUCTION

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research Hypotheses

1.5 Significance of the study

1.6 Scope and limitation of the study

1.7 Definition of terms

1.8 Organization of the study

CHAPETR TWO

2.0 LITERATURE REVIEW

CHAPETR THREE

3.0 Research methodology

3.1 sources of data collection

3.3 Population of the study

3.4 Sampling and sampling distribution

3.5 Validation of research instrument

3.6 Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix



















Abstract

This study is on the role of Nigeria deposit Insurance Corporation in the banking sector. The total population for the study is 200 staff of Nigeria deposits Insurance Corporation. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made supervisors, controllers, senior staff and junior staff were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies

















CHAPTER ONE

INTRODUCTION

Background of the study
The practice of modern banking in Nigeria dates back to 1892. The pioneer banks were understandably expatriate institutions set up to facilitate the colonial administration as well as trade with Britain. The first bank was set up in 1892 and it was called the African Banking Corporation which opened the first branch in Lagos and this was championed by Elder Dempster and co; a shipping firm based in Liverpool but had it branches in Lagos in 1894 another bank called the British Bank for British West Africa. The bank acted as an agent of the bank received, stored and issued the West Africa silver coins in exchange for sterling coins or London drafts. This bank later changed its name to standard bank. In 1899, the Anglo-African bank was established in compete with the British bank of West Africa. The bank was established in old Calabar but because of the monopoly enjoyed by the British Bank of West Africa for the importation of silver from the royal mint in Britain, the Anglo African bank sold after it, changed its name to bank of Nigeria to BBWA. Another bank opened in 1917 called the Barclays bank DCO (Dominion Colonial and Overseas). Between 1894-1933, the British bank of west African and Barclays bank DCO dominated the banking scene. Another bank joined the banking scene in 1949. This bank was called the British and French bank. The bank became the third expatriate bank to dominate early Nigerian banking scene. The banks at this period were principally these expatriate banks, which were principally to render services in connection with international trade. So their relations at that time were chiefly with expatriate trading companies and with the government. These banks also controlled 90% of aggregate bank deposits. They largely ignored the development of local African entrepreneurship. It should be noted that these various expatriate banks changed their names. The British bank of West African changed its name to standard bank and its presently called 1st bank of Nigeria plc. The Barclays bank DCO changed its name to union bank plc. The British and French bank also changed its name to united bank for Africa Ltd (UBA). However, Nigerians did not take active part in banking ownership until 1930s. In an attempt to create a competitive environment with the expatriate banks, the first indigenous bank was established in 1929. The bank was the industrial and commercial bank. This bank was setup by patriotic Nigerians, but failed in 1930, in 1931, another indigenous bank was established and was called the Nigerian mercantile bank but liquidated in 1936 due to the same reasons like the industrial and commercial bank. The first indigenous bank to survive was established in 1933, called the national bank of Nigeria ltd. Other banks established include: the Agbonmagbe bank; a private indigenous bank founded by chief Okupe in 1945. However, the bank was taken over by the western government in 1969 and its name later changed to WEMA bank plc till date. Also established was the Nigerian penny bank in early 1940s but failed in 1946; the Nigerian farmers and commercial bank in 1947 but failed in 1953 and the merchants banks in 1952 but failed in 1960. Despite the fact that up to 185 banks were established between 1947 and 1952, only four(4) banks survived. These banks include: the National bank of Nigeria established in 1933; Agbonmagbe bank established in 1945 now WEMA bank; the African continental bank established in 1947; an expatriate bank. The British and French bank now united bank for Africa established in 1949 (G.O Nwankwo, 1980). However, this period of banking can be termed free for all because banking activities were unregulated. A committee called the patrons committee was constituted to look into the causes of bank failures. The report of this committee revealed the following; most banks were faced with under capitalization, poor and inexperienced management and competitive pressures from the well established foreign banks. In 1952, the 1st indigenous ordinance was made. This ushered in the era of formal banking practice in Nigeria. it established standards before license is granted to operated banks. This was applicable immediately on new banks and a period of three years was given to all existing banks survived, they include; Agbonmagbe bank, African continental banks, national bank and merchantile bank. The ordinance was later replaced with 1st indigenous banking act of 1959, and has undergone series of amendments in 1972, 1975, 1979 and was fully consolidated by 1990 company and allied matters decree and currently called banks and other financial institution decree of 1991 (BOFID). At this period, a motion was sponsored in the federal legislature for the establishment of a central bank but a complaint was made that there was no developed capital market. However, there were persistent call for the establishment of a central bank. MR. J.L fisher was appointed to examine the desirability and practicability of establishing a central bank. Although Fisher recognized the contribution of a central bank towards improvement and performance of indigenous banks he however, did not see the need for a central bank. He recommended only a more use of the financial secretary’s power (finance minister). The international bank for reconstruction and development (World bank) in 1953 also raised a motion in favour of the establishment of central bank was finally raised by MR. J.B LOYNES, the formal adviser to the bank of England. The report of Loynes committee, favoured the establishment of central bank. On March, 17th, 1958, the central bank ordinance was made. However, the central bank did not start full operation until 1st July 1959. The ordinance of 1958 has gone through series of amendments in 1962, 1967, 1968, 1969, 1970, 1972, 1976 and 1987 law later repealed and replaced with the 1991 central bank decree. Since it’s establishment, the central bank has laid the foundation for sound financial system. It also stands at the apex bank in the financial system and helps in the implementation of monetary control. It also acts as the apex regulatory authority in the banking industry, for the supervision and control of banks, sections 1 of BOFID 1991 states the function of central bank. In 1972, the establishment of the banking enterprises promotion decree affected for all sensitive sectors of the Nigerian economy was restructured to 60:40 indigenes and foreigners respectively. This is a view to taking active control of the economy from the lands of foreigners. The banking sector being one of the sensitive sector of the economy was also affected. This gave rise to the establishment of more banks by indigenes entrepreneur. Another factor that encouraged the establishment of more banks at this period was the oil boom, which sustained an increase in capital flow in the macro economy hence, enhanced the profitability of bank ownership by Nigerian entrepreneur. Therefore, at this period more banks were licensed and established. In 1986, followed the implementation of an economic structural adjustment programme. This led to the deregulation of the financial system in 1987. Entry into banking institutions increased such that the number of a total of 42 banks in 1986, the number of licensed banks increased to 120 at the end of 1992, giving an annual average growth rate of about 31 percent with the removal of control of interest rates, bank deposit jumped from about 20.5 billion in 1986 to N58 billion at the end of 1992, an annual growth rate of 55 percent. Similarly, total assets of banks increased from N68 billion in 1986 to about N232 billion at the end ofcan safe and sound banking practice be restored in the banking system. Can the competitive and creative ability of banks lead to greater efficiency instead of distress. There is no need for promote bank ethics and conduct despite various reforms and new improved banking practices. Can confidence be restored in the banking sector? Does the adoption of the deposit insurance scheme have any justification in fair compensation of depositors of banks during bank failure and liquidation? The need for this study is also borned out of the fact that there is the need to make further research on the role of Nigeria deposit insurance corporation (NDIC) to increase knowledge on previous researcher made.

1.2 STATEMENT OF THE PROBLEM

Over the years the federal government was saddled with the problem of the debt owned depositors by failed banks. This government our as a big problem because more banks are licensed and this means more liability for the federal government. The government after looking critically at the problem decided to establish an organization called NDIC (Nigeria deposit Insurance Corporation) to take full charges of depositors funds in collaboration with central bank of Nigeria (CBN) the idea of a NDIC in the country was welcome to deregulate the banking sectors. The automous condition of banking sector in necessary if developments, international standardization is to be achieved and more so. It economic emancipation is to be a thing of reality. Government over influence in the running of banks is problem that has prompted the establishment of the corporation. Government can only controlled the activities of banks that are owned by over or been incorporated by law and what I mean by incorporated is by paying recapitalization requirement (#256) which introduced on 2004 by CBN governor.

1.3 OBJECTIVE OF THE STUDY

The objectives of the study are;

v To evaluate the problems of mismanagement of fund

v To x-ray depositor fund insecurity in banks

v To investigate the reason for failures of banks

v To know CBN / NDIC roles in saving the depositor fund

v To find the reason for unit bank abnormal growth in the century

v To know whether banks is keeping legal reserved improved by CBN for day to day recording

v To eliminate fraud act among banks managers

v To wipe out distress among incorporated banks in Nigeria banking sectors.



1.4 RESEARCH HYPOTHESES

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H0: there are no problems of mismanagement of fund

H1: there are problems of mismanagement of fund

H02: there is no reason for failures of banks

H2: there is reason for failures of banks

1.5 SIGNIFICANCE OF THE STUDY

In this course of study, throughout the process (information) I have acquired in my study which I have gone through I realized that the NDIC and banks and also my followed student in this field will benefit from this my study because this will make them add more seriousness on their activities and especial NDIC with put more effort in their role in banks. In academically, mostly my colleagues will benefit more from this study by knowing the input NDIC plays in our banking sectors. and also our nation will benefit from the study.





1.6 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers the role of Nigeria deposit Insurance Corporation in the banking sector. The researcher encounters some constrain which limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.
1.7 DEFINITION OF TERMS

The terms in the topic of study are simply defined thus:

Nigeria

This is the longest country in the western region of the context of African. It has a population of well over 120million at the end of 1990 national. Census the country is enriched by God with different resources both human and natural resources. Presently, the country’s major sources of finance and global recognition are from the oil sector. The country Nigeria in muilt tribal nation and has English and French as the official languages.

Deposit

this is the amount or percentage or ratio of money an individual, group of persons, company keeps with an individual, groups of persons of company that is licensed by the corporate affairs commission to operate as a bank or financial house with the purpose withdrawal at any giving time which must attract some interest.

Insurance:

A defined by oxford learners dictionary as “a contract made by company society, or the state to provide a guarantee to compensation for lose, damage, linens. Death etc in return the statement “beware buyers does not apply because the truth about that the intending policy holder intend to insure must be made known to the insurer to make the contract valid

Corporation

This is defined by oxford learner’s dictionary as a group of people having authority to operate a single unit with a separate legal existence.

Role

The part taken or played by an individual group of persons, companies towards achieving a goal as defines by oxford learner’s dictionary.

Banking sector

This is the sector of the country that handler the financial aspect of the economy. This sector has major players in it and they are as follows: commercial banks, merchant banks, community banks etc. this sector remain the life wire of the economy of any nation

1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study

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ABSTRACT

Governments, donors and NGOs have over the years initiated and implemented programmes aimed at empowering women economically and socially. Despite these efforts some challenges still remain. Microfinance as tool for women empowerment has become the main subject of many global and regional conferences, seminars and workshops. This study therefore examined the contribution of microfinance to the socio-economic empowerment of women in Nigeria by using Nsehe Micro Finance microfinance programme as a case study. The survey method was adopted where questionnaires were administered to beneficiaries of the Nsehe micro finance’s microfinance programme. The findings from the study revealed that access to microfinance has contributed immensely to the economic empowerment of women through improvement in their businesses. Besides, the study shows that access to microfinance has improved the status of women both at the family level and in society as a whole. The study therefore recommends that Nsehe micro finance should endeavour to extend more credit facilities to clients to expand their businesses.



CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND TO THE STUDY

Effectively functioning financial markets like micro finance banks have fundamental roles to play in fostering development among small and medium scale enterprises in developing countries like Nigeria. Small and Medium Scale Enterprises are sub-sectors of the industrial sector which play crucial roles in industrial development (Ahmed, 2006). Following the adoption of Economic reform programme in Nigeria in 1981, there have been several decisions to switch from capital intensive and large scale industrial projects which was based on the philosophy of import development to Small and Medium Scale Enterprises which have better prospects for developing domestic economy, thereby generating the required goods and services that will propel the economy of Nigeria towards development. It is based on this premise that Ojo (2009), argued that one of the responses to the challenges of development in developing countries particularly, in Nigeria, is the encouragement of entrepreneurial development scheme. Despite the abundant natural resources, the country still finds it very difficult to discover her developmental bearing since independence. Quality and adequate infrastructural provision has remained a night-mare, the real sector among others have witnessed downward performance while unemployment rate is on the increase. Most of the poor and unemployed Nigerians in order to better their lots have resorted to the establishment of their own businesses. Consequently, Entrepreneurship is fast becoming a household name in Nigeria. This is as a result of the fact that the so called white collar jobs that people clamour for are no longer there. Even, the touted sectors (Banks and companies) known to be the largest employer of labour are on the down-turn following the consolidation crisis and fraudulent practices of the high and mighty in the banking sector. The companies of course are folding up as a result of erratic power supply, insecurity and persistent increase in interest rate which has led to high cost of production and undermines profit making potentials of companies operating in Nigeria (Hassan, 2003).

Since the office jobs that people desire are no longer there for the teeming population, and the few ones that succeeded in getting the jobs are thrown out as a result of the factors identified above, the need for the government and the people to have a rethink on the way-out of this mess became imperative. Hence, the need for Small and Medium Scale Enterprises (SMEs) became a reality as a means of ensuring self-independent, employment creation, import substitution, effective and efficient utilization of local raw materials and contribution to the economic development of our dear nation (Nigeria). All the afore stated benefits of Small and Medium

Scale Enterprises cannot be achieved without the direct intervention of the government and financial institutions like micro finance banks. Over the years a number of policies have been formulated by the government with a view to developing Small and Medium Scale Enterprises. The Nigerian government under the then leadership of Chief Olusegun Obasanjo promulgated micro-finance policy and other regulatory and supervisory frame work in 2005. However, the researcher is examining the contribution of microfinance banks to the Small and medium Scale enterprises in Nigeria.

Microfinance, according to Otero (1999, p. is “the provision of financial services to low-income poor and very poor self-employed people”. These financial services according to Ledgerwood (1999) generally include savings and credit but can also include other financial services such as insurance and payment services. Schreiner and Colombet (2001, p.339) define microfinance as “the attempt to improve access to small deposits and small loans for poor households neglected by banks.” According to Wikipedia definition, a bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords. Therefore, microfinance bank involves the provision of financial services such as savings, loans and insurance to poor people living in both urban and rural settings who are unable to obtain such services from the formal financial sector.

1.2 STATEMENT OF THE PROBLEM

Most of the small and medium scale enterprises in Nigeria have remained relatively small and seen stunted growth over the years. This is due to the fact that a large percentage of entrepreneurs in the country remain unserved by the formal financial institutions. The microfinance institutions available in the country prior to 2005 were not able to adequately address the gap in terms of credit, savings and other financial services. As reported by the CBN, the share of micro credit as a percentage of total credit was 0.9%, while its contribution to GDP was a mere 0.2% (CBN, 2005). The CBN in 2005 identified the unwillingness of conventional banks to support micro-enterprises, paucity of loanable funds, absence of support institutions in the sector, as well as weak institutional and managerial capacity of existing microfinance institutions among other reasons as the major reasons for the failure of past microfinance initiatives in the country. In order to remedy the situation, the Microfinance Policy, Regulatory and Supervisory Framework (MPRSF) for Nigeria was launched by CBN in 2005 to provide sustainable financial services to micro entrepreneurs. However, although microfinance has proven to be one of the ways of bridging the resource gap created in the Nigerian economy, the country has not enjoyed the full benefits from it due to problems militating against its proper execution. The lack of documentation of the practice of micro financing in Nigeria has made it difficult to formulate supportive programmes for the growth of the sector. As a result of this, the high rate of failures of SMEs has become a matter of major concern in developing economies. International Finance Corporation (IFC) reported in 2002 that only 2 out of every 10 newly established businesses survive up to the fifth year in Nigeria. The report was corroborated by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN, 2007) that only 15% of newly established businesses survive the first five years in Nigeria. This is a pointer to the fact that there is a problem. The indispensable role of finance to the growth and performance of SMEs and the adoption of microfinance as the main source of financing SMEs in Nigeria therefore makes it imperative to study the extent to which microfinance can enhance SME growth and performance.

1.3 OBJECTIVES OF THE STUDY

i) To examine the role of microfinance banks in enhancing entrepreneurship among women in Nigeria.
ii) To determine the effectiveness of microfinance banks in Nigeria.
iii) To identify the factors limiting the development of microfinance banks in Nigeria.

iv) To determine the effect of financial services of micro finance banks on women empowerment in Nigeria.
1.4 RESEARCH HYPOTHESES

H0: There is no significant difference in the level of awareness of micro finance banks supports by Nigerian women.

H1: There is a significant difference in the level of awareness of micro finance banks supports by Nigerian women.

H0: There is no significant difference in the difficulties women face when accessing finance from various sources.

H2: There is a significant difference in the difficulties women face when accessing finance from various sources.

1.5 SIGNIFICANCE OF THE STUDY

A study of this nature is very imperative as it provides an average Nigerian a means to access to financial services in their localities to boost their standard of living in a sustainable manner in line with the millennium development goal of alleviating poverty in developing countries. The study will assist micro finance institutions to adopt the necessary measures needed to ensure the desired growth in the small and medium scale business enterprises (SMEs) industry. It is also beneficial for formulation of policies and programmes by the federal and state government as they might be looking forward to taking necessary steps to prevent the collapse or failure of small scale businesses in Nigeria and Cross River State in particular. Again, it will enable the entrepreneurs to have more understanding of how businesses should be financed, thus having knowledge on funding further research in this area. Finally, the study would serve as a source of reference for other researchers or members of the general public who need information in the subject. More importantly, entrepreneurs of small and medium scale enterprises may find it useful in the successful operation of their enterprises as the study will unveil some of the reasons why some small and medium scale business enterprises (SMEs) finds it hard to repay their loans.

1.6 SCOPE AND LIMITATION OF THE STUDY

This study covers the operations of microfinance banks in Nigeria but particularly focused on Nsehe Micro Finance microfinance with a view of identifying their contributions towards the development of women entrepreneurship in Nigeria. In the cause of the study, the researcher encounters some limitations which limited the scope of the study;

Staff Reluctance: In most cases the staffs of Nsehe Micro Finance microfinance often feels reluctance over providing required information required by the researcher. This result in finding information where the structured questionnaires could not point out.

Researcher’s Commitment: The researcher, being of full time student spent most of her time on other academic activities such as test, class work, assignment, examination etc which takes average focus from this study.

Inadequate Materials: Scarcity of material is also another hindrance. The researcher finds it difficult to long hands in several required material which could contribute immensely to the success of this research work.

Financial constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

1.7 DEFINITION OF TERMS

Microfinance: Micro finance is defined as providing micro loan to poorest of the poor (basically those are neglected by banks, microfinance provides them loan facility), and a source of financial services for entrepreneurs and small businesses lacking access to banking and related services.

Bank: A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.

Contribution: Contribution refers to the act of contributing or the thing contributed (such as personal time, money, ideas, private property or assistance).

SMEs: Small and medium-sized enterprises (SMEs, also small and medium enterprises) or small and medium-sized businesses (SMBs) are businesses whose personnel numbers fall below certain limits. The abbreviation “SME” is used in the European Union and by international organizations such as the World Bank, the United Nations and the World Trade Organization (WTO). Small enterprises outnumber large companies by a wide margin and also employ many more people. SMEs are also said to be responsible for driving innovation and competition in many economic sectors.

1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study. Chapter two highlight the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.


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TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research Hypotheses

1.5 Significance of the study

1.6 Scope and limitation of the study

1.7 Definition of terms

1.8 Organization of the study

CHAPETR TWO

LITERATURE REVIEW

CHAPETR THREE

3.0 Research methodology

3.1 sources of data collection

3.3 Population of the study

3.4 Sampling and sampling distribution

3.5 Validation of research instrument

3.6 Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix



























Abstract

This study examined joint audit and audit quality of listed deposit money banks, drawing evidence from auditing firms. Data were collected through statistical bulletin and published financial statement, SPSS statistical package were used to perform using descriptive statistic, Pearson Product Moment Coefficient of Correlation. Findings indicate a statistically significantly positively strong relationship between the measures of audit quality (auditor independence, technical training and proficiency and engagement performance) and financial reporting (measured in terms of reliability of financial report). Given the existence of technical training and proficiency and engagement performance, auditor independence is a prime audit quality in financial reporting. Accounting practitioners should imbibe the ethics of independence to achieve credibility and reliability required of financial reports.









CHAPTER ONE

INTRODUCTION

1.1 Background of the study

The stakeholders’ pressure on corporate managers to maintain firm’s profitability has created economic incentives for management to engage in earnings management practices. Therefore, this study examines the effects of audit quality and corporate governance on earnings management of quoted deposit money banks (DMBs) in Nigeria. This study specifically investigates the efficacy of joint audit and audit quality of listed deposit money bank, board independence, and board size on earnings management of DMBs. The consequential audit failure in Enron’s case of 2002 has brought about series of regulations and guidelines in the accounting profession and other related professions such as the 2002 US Sarbanes Oxley’s, the 2003 Nigerian Code of Corporate Governance, and the UK Financial Reporting Council, just to mention a few. However, despite the aftermath of the regulations and reporting guidelines and significant progress in the quality of audit service; there are still reported cases of audit and corporate failure perhaps stemming from earning management practice, particularly in Nigeria (Cadbury Nigeria Plc, Intercontinental Bank Plc, Savannah Bank and Bank PHB) and also across Europe, Australia and the United States, just to mention a few. Although it has not been proved by any detailed investigation that these audit failures were due to low quality of audit service or weak code of corporate governance stemming from earnings management practice, it could however reasonably be suspected to be the contributing factor. These corporate scandals have discouraged the public from having confidence in audit reports. Meanwhile, the demand for external audit was as the result of the agency problems arising from the asymmetric information between banks’ shareholders and banks’ management. Accounting records have indicated that the existence of asymmetric information between shareholders and management underpin the practice of earnings management in companies. Earnings management occurs when information asymmetry exist between shareholders and managers, shareholders have inadequate access to relevant information to monitor manager’s actions. Earning management is a strategy used by the management of a firm to deliberately manipulate the firm’s earnings so that the figures match a pre-determined benchmark. This practice is carried out for the purpose of income smoothing. Although the different methods used by managers to smooth earnings can be very complex and confusing, the vital point to remember is that the driving force behind managing earnings is to meet a pre-determined target. One of the methods of earnings management is discretionary accruals accounting (which also serve as the proxy for earnings management in the literature and in this study) which gives opportunities of discretion to management in determining the actual earnings of a bank. However, earnings are the powerful indicators of banking business activities. Since a bank’s stock is measured by the present value of its future earnings, investors and analysts look to earnings to determine the attractiveness of a particular stock. Banks with poor earnings prospects will typically have lower share prices than those with good prospects. So, earnings management plays a key role to determine the share price of a bank as well as direct resource allocation in capital markets. Manipulation of accounting records by the preparer of financial statement through recording a fictitious inventory and hiding liabilities even in the face of audited financial reports may be attributable to the stakeholders’ pressure on corporate managers to maintain profitability. Furthermore, since the values of the banks are linked to the reported earnings figures, it creates economic incentives for management to engage in earnings management. In the context of these challenges and foregoing analysis motivated this study to integrate both corporate governance and audit quality to determine the level (extent) of earnings management of DMBs in Nigeria. In 2005, the Central Bank of Nigeria mandated every Nigerian bank to increase capital base from 2 billion naira to 25 billion Naira in order to enhance competitiveness in the international market. Noteworthy capital market expectations were raised and banks were under pressure to achieve survival and generate higher returns to shareholders. This pressure from the Central Bank of Nigeria has occasioned banks falsifying accounts, inflating earnings and capital. The need for reliable reports has led to statutory audit that provides independent authentication of financial statements prepared by banks’ directors. Auditors are instructed to report financial misdemeanors in company’s accounts to increase transparency and accountability through fraud detection. Earnings are made up of accruals and cash items and accruals are basically controlled by company’s stewards. Management can bloat performance of company and future earnings predictions through manipulation of accruals resulting in earnings management. Financial reports contain accounting information which different users use to appraise firm’s performance. Investors use cash flow statement to make investment decisions thereby creating room for highly motivated and intelligent management teams to manipulate the real economic operations to influence the true picture of a company’s cash flow from operations. Since accrual accounting measures the performance of company by recognizing economic events irrespective of when transactions occur. Earnings management is therefore, discovered by conducting tests on the components of accrual assumed to be at the managerial discretionary accruals thereby revealing information asymmetries. Accounting scandals experienced in the last few years have affected the regulators’ trust of financial statements. This scandal and its consequent results are reasons for drawing attention to quality and reliability of financial statements in the banking sector. Therefore, the absence of investors’ confidence in the reported earnings influence the financial market because investors are major players in ensuring availability of capital to support the economic system. Given the above state, this study seeks to assess the effect of audit quality on earnings management in Nigerian listed deposit money banks. The broad objective of this study is to identify relationship between audit quality and earnings management of Nigerian listed money deposit banks while to assess relationship among joint audit, auditor specialization, auditor independence and audit tenure on the earnings management in the listed deposit money banks in Nigeria would need to established.

1.2 STATEMENT OF THE PROBLEM

The bank credit fraud in Nigeria despite the introduction of joint audit and audit committee this has placed a question mark on the quality of audit carried out in deposit money banks (DMBs). The fraud prevalent in the financial statement of DMBs is becoming worrisome, this is because incident of a bank declaring a huge amount of profit at the close of financial year and two months later the bank has either been acquired by another bank or taken over by asset management committee of Nigeria as a result of either inability to meet the stipulated reserve or cost of operation. This and so many other instances is becoming unbecoming in the audit profession, due to the fact that questions are being asked as to the extent of reliability of the audited financial report. Furthermore, banks default and distress have hampered their performance significantly and diminished investors‟ confidence in the banks, thereby casting doubt as to the efficacy of the audit committee functions. There are divergent views on the relationship between joint audit and audit quality in DMBs in Nigeria. Some of the arguments support the link between Corporate Governance and performance while others see no link between Corporate Governance and performance. There is a skew in approach and method on study relating to joint audit, audit committee and audit quality and the studies are mostly concentrated on studies conducted in advanced countries with more matured financial systems compared to the developing countries like Nigeria.

1.3 OBJECTIVE OF THE STUDY

The main objective of this study is to examine the effect of joint audit and audit quality of listed deposit money banks in Nigeria, but to aid the completion of the study, the researcher intend to achieve the following specific objectives;

i) To examine the effect of joint audit on audit quality of listed deposit money banks in Nigeria
ii) To ascertain if there is any significant relationship between joint audit and audit quality of listed deposit money banks
iii) To examine the role of audit committee in ensuring quality audit work in listed deposit money banks in Nigeria

iv) To examine the impact of quality audit on the reliability on the financial report by investors and potential investors
1.4 RESEARCH QUESTIONS

To aid the completion of the study, the following research questions were formulated by the researcher;

i) Does joint audit has any effect on audit quality of listed deposit money banks in Nigeria?
ii) Is there any significant relationship between joint audit and audit quality of listed deposit money banks?
iii) Does audit committee play any role in ensuring quality audit work in listed deposit money banks in Nigeria?

iv) Does quality audit has any impact on the reliability on the financial report by investors and potential investors?
1.5 RESEARCH HYPOTHESES

H0: There is no significant relationship between joint audit and audit quality of listed deposit money banks

H1: There is a significant relationship between joint audit and audit quality of listed deposit money banks

H0: joint audit does not have any effect on audit quality of listed deposit money banks in Nigeria

H2: joint audit does have an effect on audit quality of listed deposit money banks in Nigeria

1.6 SIGNIFICANCE OF THE STUDY

It is believed that at the completion of the study, the findings will be of great importance to the management of deposit money banks as the study seek to explore the benefit of joint audit on audit quality of listed deposit money banks in Nigeria, the study will also be of great value to accounting undergraduate student as the findings of this study will give them a potential insight into the importance of auditing and accounting profession on the existence and functioning of business organization. The study will be of importance to researchers who intend to embark on a study in a similar topic as the findings of this study will serve as a reference point to further studies, finally, the study will be of significance to student, teachers, academia’s and the general public as the study will contribute to the pool of existing literature and also add to knowledge in the subject matter.

1.7 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers joint audit and audit quality of listed deposit money banks in Nigeria, but in the cause of the study, there are some factors that limited the scope of the study which is beyond the researchers control:

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Finance: the finance at the disposal of the researcher is a major constrain to the scope of the study, as the researcher could not cover more grounds for the study.
1.8 OPERATIONAL DEFINITION OF TERMS

Auditing

Financial auditing is the process of examining an organization’s (or individual’s) financial records to determine if they are accurate and in accordance with any applicable rules (including accepted accounting standards), regulations, and laws.

Audit

An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern

Joint audit

A joint audit is an audit on a legal entity by two or more auditors to produce a single audit report, thereby sharing responsibility for the audit. A typical joint audit has audit planning performed jointly and fieldwork allocated to the auditors. The auditors are typically not individuals, but auditing firms

Audit committee

An audit committee is one of the major operating committees of a company’s board of directors that is in charge of overseeing financial reporting and disclosure. All U.S. publicly-traded companies must maintain a qualified audit committee in order to be listed on a stock exchange

1.9 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows. Chapter one is concern with the introduction, which consist of the (background of the study), statement of the problem, objectives of the study, research questions, research hypotheses, significance of the study, scope of the study etc. Chapter two being the review of the related literature presents the theoretical framework, conceptual framework and other areas concerning the subject matter. Chapter three is a research methodology covers deals on the research design and methods adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.


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FOR COMPLETE PROJECT TOPICS AND MATERIAL VISIT
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TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research Hypotheses

1.5 Significance of the study

1.6 Scope and limitation of the study

1.7 Definition of terms

1.8 Organization of the study

CHAPETR TWO

LITERATURE REVIEW

CHAPETR THREE

3.0 Research methodology

3.1 sources of data collection

3.3 Population of the study

3.4 Sampling and sampling distribution

3.5 Validation of research instrument

3.6 Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix



















Abstract

The study investigated the impact of liquidity management on financial performance of insurance companies in Nigeria between. The study made use of variables such liquid asset, equity capital, dividend, working capital, investment, under-writing risk and size of the firm in the model. Return on asset ROA is used as the dependent variable and it measures the financial performance. Regression analysis was adopted to estimate the model and the results showed that liquidity management has not been having significant impact on insurance company’s performance like equity management which affects long term stability. Again, both investment and working capital are shown to have significant positive impact on financial performance of insurance companies in Nigeria. It is recommended that insurance companies should place more priority on their equity capital which is having negative impact on their performance rather than liquidity management since they are less involved with liquid cash unlike commercial banks.





CHAPTER ONE

INTRODUCTION

1.1 Background of the study

Primarily, the liquidity management duty is to determine the needs for funds to meet financial obligation and ensure the availability of cash or collateral to fulfill those need as at when due, this is done by coordinating the various sources of funds available to the institution under normal and stressed conditions. It relies on the daily assessment of the liquidity conditions in the insurance system, to determine its liquidity needs and thus the volume of liquidity to allot from the market. Management of liquidity involves a daily analysis and detailed estimation of the size and timing of cash inflows and outflows over the coming days and weeks to minimize the risk that savers will be unable to access their deposits in the moment they demand them. Thus, liquidity is lifeblood of an insurance system. The problem of insufficient studies of the assessment of the relationship between liquidity management and the performance of Insurance companies in Nigeria calls for more work under the subject matter. The assessment of liquidity management in relation to performance becomes imperative as a result of Insurance Market Review in 2009. The National Insurance Commission (NAICOM) makes it important to examine the management of liquidity in Insurance companies in Nigeria. Theoretical studies and empirical evidence have shown that countries with better developed financial system enjoy faster and more stable long-run growth of which insurance companies contribute to. Well-developed financial markets have a significant positive impact on total factor productivity, which translates into higher long-run development. Based on Solow‟s (1956) work, Merton (2004) noted that due to the absence of a financial system that can provide the means of transforming technical innovation into broad implementation, technological progress will not have significant and substantial impact on the economic development and growth. Therefore, the studies on the relationship of liquidity management and performance especially in insurance companies is not conclusive and more empirical evidences are needed to establish the sources of insurance liquidity and identify the strategies adopted by insurance companies in the management of liquidity, the relationship that exists between the sources of insurance liquidity and performance.

The heart of corporate finance literature is based on long term investment, capital structure and various validation methods. These have been the focus of intention of many researchers in the past. In short, it concerns the long-term financial decisions. On the other hand, it is believed that financial decisions of short-term assets and short-term liabilities management also influence the stock price. These decisions are vital because they demonstrate the financial stability of the firm and the market which develop the perception about the firm accordingly (Afza and Nazir,2008). An efficient working capital management can create value for stakeholders while a deprived policy or inefficient management might affect the business in an appalling way and might cause a financial distress. Working capital management is among the four cardinal decision areas of financial management, for which every commercially oriented organization has to make (Pandey, 2005). Working capital components of a firm’s financial management deals with liquidity aspect of a firm and hence fundamental for the effective and efficient operations as well as the sustainability of its going concern status (Enyi 2006). Working capital and liquidity could mean one and the same thing and relate to the management of current assets and current liabilities of an enterprise. This synonymy is based on the observation that working capital ratios are the most common measures of liquidity (Lamberg and Valming,2009). Liquidity management determines to a large extent the quantity of profit that results as well as the value of shareholders’ wealth (Ben-Caleb,2008). For a firm to survive, it must remain liquid as failure to meet its obligations in due time, results in bad credit rating by the short-term creditors, reduction in the value of goodwill in the market and ultimately lead to liquidation(Bhavet 2011). Hence, a good and firm financial management policy seeks to maintain adequate liquidity as to meet its short-term maturing obligations without impairing profitability. Short term signifies obligations which mature within one accounting year. It also reflects the operating cycle: buying, manufacturing, selling and collecting cash. A firm that is unable to pay its creditors on time and continue to fail its obligations to suppliers of credit , services, and goods can be sick or bankrupt. Inability to meet the short-term liabilities may affect the company’s operation and reputation also. Lack of cash or liquid assets on hand may force a company to miss the incentives given by suppliers of credit, services, and goods which result in higher cost of goods and in turn affect the profitability of the business. So there is always a need for the company to maintain certain degree of liquidity. However, there is no standard norm for liquidity. It depends on the nature of the business, scale of operations, location of the business and many other factors. Every stakeholder has interest in the liquidity position of a company. Suppliers of goods will check the liquidity of the company before selling goods on credit. Employees also have interest in the liquidity as to know whether a company can meet its employees’ related obligations in terms of salary, pension, provident fund, etc. Shareholders are interested in understanding the liquidity due to its huge impact on the profitability. They may not like high liquidity as profitability and liquidity are inversely related. However, they are also aware that non-liquidity will deprive the company from getting incentives from suppliers, creditors, and bankers. Liquidity management is a concept that is receiving serious attention globally mostly with the current financial situations and the state of the world economy. The concern of business owners and managers all over the world is how to devise a better strategy of managing their day to day operations as to meet their obligations as they fall due and increase profitability and shareholders’ wealth. Liquidity plays a significant role in the successful functioning of a business firm. Its study is of a major importance to both internal and external analysts due to its close relationship with day-to-day operation of business (Bhunia,2010). Dilemma in liquidity management is to achieve desired trade-off between liquidity and profitability(Rahemen et.al.,2007). Unfortunately, the principal focus of most organizations is profitability maximization while the need for efficient management of liquid assets is ignored. This approach is justified by the belief that profitability and liquidity are conflicting goals. Hence, a firm can only pursue one at the expense of the other, in consonance with the theory of liquidity and profitability trade-off. On the contrary, Padachi(2006) advised that a firm is required to maintain a balance between liquidity and profitability while conducting its daily operations. This is because both inadequate liquidity and surplus liquidity directly affect profitability (Ogundipe , Idowu and Ogundipe (2012). On the other hand, an insufficient working capital, results in a liquidity crises which is life threatening , and can force a firm into bankruptcy, often with little notice. This also affects the returns of the firm. Liquidity requirement of a firm depends on the peculiar nature of the firm and there is no specific rule on determining the optimal level of liquidity that a firm can maintain as to ensure positive impact on its profitability. Certain measures of corporate profitability include Return on Investment(ROI), Return on Equity(ROE) and Return on Assets(ROA). Hence this paper is to investigate the impact of liquidity on return on assets on selected Nigerian firms listed on Nigerian Stock Exchange. Return on assets will all through be used as a measure of profitability. Secondly, the study aims at directing the attention to the importance of active management of liquidity

1.2 STATEMENT OF THE PROBLEM

Insurance industry plays a crucial role in fostering commercial and infrastructural businesses. From the latter perspective, it promotes financial and social stability; mobilizes and channels savings; supports trade, commerce and entrepreneurial activity and improves the quality of the lives of individuals and the overall wellbeing in a country (Malik, 2011). To achieve this role, insurance companies are expected to be financially strong and solvent enough through profitability in their operations. The poor performance of insurance firms in Nigeria as noted by Agabi (2009) stemmed from several years of non-payment of claims by underwriting firms. This tradition of defaulting in claims by insurance firms in Nigeria resulted in reduction of their goodwill which translated to poor image of the sector and as a result, confidence in the sector seems to have eroded significantly. As such, Nigerians no longer consider insuring their valuables due to confidence crisis in the sector. In Nigeria today, there are evidence of performance of several industries such as banking and other financial institutions, however, the insurance sector is not responding appropriately to economic growth due to confidence crises in the sector. This implies that the overall financial performance of insurance firms in Nigeria is weak except for those who have diverse sources of investment. Measuring the financial performance of insurance companies has therefore gained significant attention in the developed and some developing countries in the area of business and corporate finance literature. As underwriters, these companies are not only providing good mechanism for transferring risk but also help to boost entrepreneurial confidence in appropriate way so as to support investment growth and general economic activities. Profitability is a vital concern to all groups who have a direct or indirect interest in the firm. In spite of these vital roles that profit plays in the going concern of insurance firms, the profitability status of most insurance firms operating in Nigeria in relation to firm age, firm size, premium growth, loss ratio, liquidity and leverage of the firm have not attracted much attention of researchers in area of finance. This may be attributed to lack of thorough evaluation of factors that play critical role in profit realization of insurance firms in Nigeria. Therefore, it is of interest to know the extent to which firm specific characteristics (firm age, firm size, premium growth, loss ratio, liquidity and leverage) affect the financial performance of listed insurance firms in Nigeria.

1.3 OBJECTIVE OF THE STUDY

The main objective of this study is to examine liquidity management and firm value of listed insurance companies in Nigeria. But for the purpose of the study, the following specific objectives are put forward by the researcher;

i) To examine the impact of liquidity management on the performance of listed insurance firms in Nigeria.
ii) To ascertain the impact of premium growth rate on the performance of listed insurance firms in Nigeria.
iii) To examine if there is any relationship between liquidity management and firm’s value of listed insurance companies

iv) To evaluate the contribution of firm size to the performance of listed insurance firms in Nigeria
1.4 RESEARCH QUESTIONS

The following research questions were formulated by the researcher to aid the completion of the study;

i) Does liquidity management have any significant impact on the performance of listed insurance firms in Nigeria?
ii) Does premium growth rate influence the performance of listed insurance firms in Nigeria?
iii) Is there any significant relationship between liquidity management and firm’s value of listed insurance companies?

iv) Does firm size contribute to the performance of listed insurance firms in Nigeria?
1.5 RESEARCH HYPOTHESES

The following research hypotheses were formulated by the researcher to aid the completion of the study;

H0: there is no significant relationship between liquidity management and firm’s value of listed insurance companies

H1: there is a significant relationship between liquidity management and firm’s value of listed insurance companies.

H0: firm size does not contribute to the performance of listed insurance firms in Nigeria

H2: firm size does contribute to the performance of listed insurance firms in Nigeria

1.6 SIGNIFICANCE OF THE STUDY

This study is based on the fact that most empirical literatures on the firm liquidity management and firm value and are mostly focused on the insurance sector. By implication, researchers have not paid enough attention to this area in the insurance sector in Nigeria. That is, most empirical literatures are directed towards the sector and not banking sector. To the best of our knowledge, no or little is known about the insurance industry as far as the study under consideration is concerned, most especially from the perspective of an emerging market like Nigeria. This study therefore expected to provide empirical evidence on the firm value and liquidity management affecting the financial performance of listed insurance firms in Nigeria.

1.7 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers liquidity management and firm value of listed insurance companies in Nigeria, but in the cause of the study, there are some factors beyond the researchers control that limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Finance: the finance at the disposal of the researcher is a major constrain to the scope of the study, as the researcher could not cover more grounds for the study.
1.8 OPERATIONAL DEFINITION OF TERMS

Insurance

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured

Liquidity

Liquidity describes the degree to which an asset or security can be quickly bought or sold in the market without affecting the asset’s price.

Firms value

A firm’s value, also known as Firm Value (FV), Enterprise Value (EV) is an economic concept that reflects the value of a business. It is the value that a business is worthy of at a particular date.

Liquidity management

Liquidity management is a concept broadly describing a company’s ability to meet financial obligations through cash flow1, funding activities, and capital management.

1.9 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows. Chapter one is concern with the introduction, which consist of the (background of the study), statement of the problem, objectives of the study, research questions, research hypotheses, significance of the study, scope of the study etc. Chapter two being the review of the related literature presents the theoretical framework, conceptual framework and other areas concerning the subject matter. Chapter three is a research methodology covers deals on the research design and methods adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.


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TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research Hypotheses

1.5 Significance of the study

1.6 Scope and limitation of the study

1.7 Definition of terms

1.8 Organization of the study

CHAPETR TWO

LITERATURE REVIEW

CHAPETR THREE

3.0 Research methodology

3.1 sources of data collection

3.3 Population of the study

3.4 Sampling and sampling distribution

3.5 Validation of research instrument

3.6 Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix



















Abstract

Corporate governance (CG) safeguards shareholders’ portfolios and ensures optimal returns in terms of dividend policy (DPs) on investment. The association between CG and DPs could be significant in relation to risk exposure, operational and financing activities across firms and sectors. The relationship between CG and DPs has been well documented, however; the role of industry classification on the relationship has not been given adequate consideration in the literature. This study, therefore, examines the moderating effects of sector classification of CG on DPs on listed insurance in Nigeria. Agency theory underpins the model which captures the effects of CG on DPs. Governance indicators (number of independent directors, institutional investors, board size and managerial shareholding) and dividend per share of listed insurance companies in Nigeria.









CHAPTER ONE

INTRODUCTION

1.1 Background of the study

One of the main fundamental issues in corporate finance has been the dividend payout decision of firms, which has always been studied in relation to a firm’s financing decisions. According to Uwuigbe (2012), dividend policy remains one of the most salient financial decisions not only from the viewpoint of firms, but also from that of the shareholders, consumers, employees and regulatory institutions. It is one of the salient components of firm policies and has been viewed as an interesting issue in the literatures. Firms’ decisions related to dividend policy have been a subject of debate in the financial literatures. It remains one of the most controversial topics and researched areas of corporate finance. According to Black (1976), the harder we look at the concept of dividend, the more it seems like a puzzle, with pieces that just do not fit together. Economics and finance researchers have long wondered why firms pay dividends even though cash allotments are less advantageous from a tax perspective than cash retention (Black, 1976). Dividend policy has been analyzed for many decades, but no universally accepted explanation for companies’ observed dividend behavior has been established. Brealey and Myers (2005) described dividend policy as one of the top ten most difficult unsolved problems in financial economics. Dividends as the term implies can be described as the reward for providing finances to a firm. According to Uwuigbe (2012), without any dividend payout, shares would not have any value. Nevertheless, dividend policy in the context of this study, relates to firm’s dividend payout policy that an organisation imbibes in deciding the pattern and size of cash distribution to shareholders over time. For firms, it is a key policy around which other financial policies rotate (Alii et al., 1993; Uwuigbe, 2013). Profit distribution decisions remain one of the key decision areas in economic and finance since it tends to ascertain the amount that flows to investors and the amount that is retained by firm for investment (Ross et al., 2002). Thus, Lintner (1956) opined that firms in developed markets target their dividend payout with the help of current earnings and past dividends. In order to reach such target, various modifications are made in the dividend decisions of firms, and hence firms should maintain stable dividend policies. Miller and Modigliani (1961) on the other hand opined that dividend policy decisions were irrelevant in determing the present value of shares considering the illogical assumptions of market perfections, zero transaction costs, perfect certainty and indifferent behaviour of investors. However, Miller and Scholes (1982) argued that in the real world firms’ dividend decision is inspired more by high taxes on dividends than capital gains and market imperfections. More so, series of theoretical models and explanations describing the factors that managers of organisations should consider when making dividend policy decisions have been developed by academics and researchers. Since then, a number of controversial judgments have been advanced to ascertain the factors which affect the dividend policy decisions of firms (Al-Malkawi, 2007; Uwuigbe, 2013).

In advanced economies, only firms who have relatively grown in size and need more capital for operations approach capital markets for finance, implying that their ownership would be diffused and enlarged. To attract more investors, corporate governance standards that could protect the interests of shareholders need to be enforced (Kowalewski, Stetsyuk and Talavera, 2007). This phenomenon is relatively new in Nigeria, since firms, formerly owned by colonial allies and administrators were transferred to some Nigerians as a result of the indigenisation policy of 1970s. Another major economic transition in the economy in the last three decades (1980’s) is the privatisation (an offshoot of Structural Adjustment Programme–SAP) of public enterprises. Privatisation is a programme of divestiture of public enterprises introduced within the framework of macroeconomic reforms. It is one of the International Monetary Fund’s (IMF) policies to bail her out of economic crisis. It was meant to reduce absolute reliance of commercially oriented parastatals on the treasury for funding and to encourage them to approach the stock market for capital. This reform has made ownership of public limited liability companies in Nigeria, highly concentrated. In Nigeria, the issue of corporate governance (CG) gained importance in the post-SAP era. This period witnessed the growth of listed companies. The country witnessed a very high rate of corporate failures because of the weak corporate culture in these institutions (Anya, 2003). Financial scandals and scams, poor management and weak internal control systems accounted for some of the lapses in the operations of some corporate organisations. Moreover, technical mismanagement involving inadequate policies, lack of standard practices, poor lending, mismatching of assets and liabilities; weak and ineffective internal control systems as well as poor and lack of strategic planning were prevalent in the Nigerian corporate industry (Babatunde and Olaniran, 2009; Ebhodaghe, 2014). To regain the confidence of the public and in response to the need for international CG practices in Nigeria, the Securities and Exchange Commission (SEC) and Corporate Affairs Commission (CAC) aligned CG in Nigeria with international CG best practices; spelt out the code of best practices in CG in Nigeria in 2003 for firms that are quoted on the Nigerian Stock Exchange. This was followed by a similar code by the Central Bank of Nigeria in 2006 (CBN, 2006) and a revised Code of CG (SEC/CAC, 2011) in Nigeria to address CG lapses in Nigeria. Emphasis is placed on CG as a result of the high profile of corporate scandals locally and internationally. Anya (2003) contends that lack of transparency2 obscured the way economic activities were conducted and consequently, contributed to the alarming proportion of economic/financial crimes in the financial industry. The financial fraud witnessed in Nigerian corporate sector most especially in Cadbury Nigeria PLC in 2007 shook investors’ confidence in the Nigerian capital market and the efficacy of existing CG practices in promoting transparency and accountability The use of funds of others in a business requires that returns be given on such funds in addition to the repayment of initial funds obtained for use in the firm. For owners of the firm, dividend may be a necessary reward for providers of funds. The higher these dividends, the satisfied are these owners who see such financial investments as rewarding, and thus attractive to non-owners to invest in. Financial theory supports this idea for such investors to desire holding into such stocks, and others desiring to acquire such stocks. Payment of this rewards, dividend, signals good prospects for firms, Finnerty (1986) observed from his study of American firms over a 40 years period that smaller and younger firms do not play cash dividend to their shareholders. However, he added, at some point in life cycle of any firm it begins paying common dividends. Continuing, he observed that between 80% and 90% of common stocks listed on the New York stock Exchange in any year, pay cash dividends during the year. Park (2009) observed that dividend payments are associated with firms with good corporate governance; concluding that firms in “legal regimes that focus on protecting investors are more likely to pay” even “higher dividends than firms in legal regimes with less investor protection”. Determinants identified in financial theory as affecting dividend paying behavior of firms are the availability of cash with which to pay the dividend, amount payable, government regulations, covenant restrictions in business transactions and the availability of viable investment options for dividend-proposed funds. With these, firms strive to continue regular dividend payments to keep themselves attractive to investors; highlighting the proposed amounts when issuing dividend declarations. Firms exhibit a strong aversion to reducing their dividend rates (Frankfurter and Wood, 2000). Reduction in this rate is interpreted by investors as a signal that the firms earning prospects have worsen; though firms in periods of adversity, reduce dividends rate when factors causing such adversities are obvious. Reductions in dividends rates adversely affect a firm’s share price, and in such cases the share prices of firms in the same industry as investors may interpret such reductions as industry affected. Dividend is also often mixed with capital investment decisions. Investors’ characteristics determine whether dividend payment is necessary or not. Some prefer current income streams with higher relative tax rates to differed income, capital gains, with lower relative tax rates in the present inflationary situation. Use of margin loans for equity investment purposes, require the generation of current regular income to service and pay such cash loans. The present harsh economic environment, high interest rate, low income, high cost of goods, and delayed salaries make it necessary for investors to receive current regular income to augment earned income and meet socio-economic needs. These needs in Nigeria are basically the physiological needs enumerated by Maslow (1954): shelter, safety, security (financial and physical) and love (family and attendant needs).

1.2 STATEMENT OF THE PROBLEM

Due to the peculiarity of dividend problems around the world, few studies in developed countries that have tried to assess the impact of corporate governance on dividend policy on listed insurance firm. Cook and Jeon (2006) conducted their study in korea, Mancilleni and Ozkan (2006) also carried out their study on Italian firms, Mollah, Rafiq and Sharp (2007) equally conducted their study in Bangladesh, and Obema, El-Masry and Elsegini (2008) conducted their study using Egyptian listed companies. Nigeria as an emerging economy differs from those developed countries and inadequacy of data on this research area stimulates a gap in the literature which needs to be filled. This study employed the corporate governance framework to investigate the relationship between corporate governance and dividend policy. On one hand, it is important to take dividend decisions by financial managers, and on the other hand, it is important for corporate investors to understand the firm’s dividend policy. These facts stimulated the researcher to investigate this relationship between corporate governance and dividend policy of quoted Conglomerates in Nigeria.

1.3 OBJECTIVE OF THE STUDY

The main objective of this study is to investigate corporate governance and dividend policy on listed insurance company in Nigeria. But for the successful completion of the study, the researcher intends to achieve the following specific objective:

i) To examine the effect of corporate governance on dividend policy of listed insurance company
ii) To ascertain if there is any relationship between corporate governance and dividend policy of listed insurance companies
iii) To examine the effect of board size on dividend payout ratio

iv) To proffer suggested solutions to the challenges of dividend policy and corporate governance in insurance sector.
1.4 RESEARCH HYPOTHESES

The following research hypotheses were formulated by the researcher to aid the completion of the study

H0: there is no significant relationship between corporate governance and dividend policy of listed insurance companies

H1: there is a significant relationship between corporate governance and dividend policy of listed insurance companies

H0: corporate governance does not have any effect on dividend policy of listed insurance company

H2: corporate governance does have an effect on dividend policy of listed insurance company

1.5 SIGNIFICANCE OF THE STUDY

This study aims to provide additional insights into the relationship between governance mechanism and firm dividend policy. Our focus is on the measurement of corporate governance, abstract from other dimension such as incentive scheme. It is hoped that the evidence would serve as important quantitative information into the cauldron of policy as well as add to the existing body of empirical literature from a developing stock exchange such as that of Nigeria. The need for a study of this kind is characterized by growing all for effective corporate governance particularly for public liability companies.
At the level of firm, it offers the promise of a fair return on capital invested through improved efficiency. It also has some implication for the on-going privatization that the government of Nigeria is currently undertaken Grass-field (2002) citing the works of other scholars, indicated that the effectiveness of privatization is greater. When corporate governance works well, moreover by helping to promote firm performance and the protection of stakeholder’s interest, corporate governance encourages investment and stock market development. Dimirgue-kunt and Levine (1996) have associated with improved micro-economic growth. Further recent evidence in the works of klappers and love (2002)suggest that the firm level corporate governance provisions matters more in countries with weak legal (regulatory) environments implying that the firm can partially compensate for ineffective laws and enforcement by establishing good corporate governance and providing credible investor protection.
1.6 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers corporate governance and dividend policy on listed insurance company, but in the cause of the study, there are some factors that limit the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Finance: the finance at the disposal of the researcher is a major constrain to the scope of the study, as the researcher could not cover more grounds for the study.
1.7 OPERATIONAL DEFINITION OF TERMS

Management

Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body.





Corporate Governance

The methods by which suppliers of finance control managers in order to ensure that their capital cannot be expropriated and that they earn a return on their investment.

Dividend policy

Dividend policy is the set of guidelines a company uses to decide how much of its earnings it will pay out to shareholders. Some evidence suggests that investors are not concerned with a company’s dividend policy since they can sell a portion of their portfolio of equities if they want cash

1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows. Chapter one is concern with the introduction, which consist of the (background of the study), statement of the problem, objectives of the study, research questions, research hypotheses, significance of the study, scope of the study etc. Chapter two being the review of the related literature presents the theoretical framework, conceptual framework and other areas concerning the subject matter. Chapter three is a research methodology covers deals on the research design and methods adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.



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Abstract

The main aim of the study was to analyze women labor utilization in crop production in Nigeria. The specific objectives included identify the role of women labor in utilization in crop production; to ascertain the relationship between women and men labor utilization in crop production; identify the impact of women participation in farm activities; determine the effect of women labour utilization on the value of farm output. Using a simple random sampling technique, the researcher randomly select two hundred farmers across different house hold as the population of the study. A set of structured questionnaire was administered on the relevant women and men farmers in the household to obtain required information. Data were analyzed using descriptive statistics, and simple percentage.











CHAPTER ONE

INTRODUCTION

Background of the study
Agriculture is the back bone of many developing countries. Women account for more than half of the work force by participating in different activities, either directly or indirectly. The gender division of labor varies from one society and culture to another, and within each culture external circumstances influence the level of activity (Nigist, 2004). However, except in few most developed countries, women’s efforts are not yet realized by society. Rural development in Africa cannot be imagined without the active participation of women. Women are, of course form an integral part of farming Household. They are involved in over half of the farm activities in many developing countries, bear most of responsibilities for household food security and contribute to household well being through their income generating activities (Etenesh, 2005). In order to improve the capacity of African countries to meet their food demand, women’s roles have to be recognized and they should be given equitable access to and control over the land, credit facilities, extension services and improved tools as well as membership in cooperatives and other rural benefits (Winrock, 2001). Nigeria at the moment is witnessing an upward trend in the price of foodstuffs partly due to the inability of production to keep pace with increase in demand. Demand itself increases largely as a result of increase in population. The resulting effect of this imbalance between demand for and supply of food is malnutrition, poverty and deteriorating living conditions (Nnadozie and Ibe, 2000). This is mainly because agriculture is being neglected and, sometimes, down played in development strategies. Agriculture is one of the main pillars of the Nigerian economy because it plays many roles. It is a major source of food to the population, it provides employment for over 70 to 80 percent of the population and it is the only thriving economic activity in rural areas. It contributes foreign exchange as well as a source of industrial raw materials for the nation’s industries (Amanze, 2000). However, with the oil boom in the seventies, there was a sharp decline in agricultural production as people’s attention was diverted from agriculture to the oil sector of the economy. The “oil boom” also rendered many indigenous land owners landless and, in some cases, a reduction in the hectare farmed. There was rural-urban movement because of lack of social amenities in the rural areas. Many able bodied men moved to the urban centres in search of white-collar jobs because of the income disparity and availability of amenities in the urban areas. Women and their children were left behind to carry on agricultural production activities which resulted in many household economic activities championed by women. This situation placed on them the responsibility of taking decisions on issues on the farm (Lily, Feidman and Shert., 2001). Attempts to restore agriculture to its former glory, national efforts to boost the production of food and cash crops have been made through a number of agricultural programmes like National Accelerated Food Production Programme (NAFPP), Operation Feed the Nation (OFN), Green Revolution Programmes, Go Back to Land, Directorate for Food, Roads and Rural Infrastructure (DFRRI) etc. Despite these efforts the problem of food shortage continues. Food production strategies so far tried, appeared to have achieved limited success. One of the remote causes of the apparent failure was inability to develop and utilize the nation’s manpower resources effectively and efficiently especially in the rural sector (Okunade, 1998).





STATEMENT OF THE PROBLEM
Due to low recognition of women’s contribution to food production by both the men folk and the government through its established agencies, women are not seen as having little potential to contribute to the economy of the country (Ukonu, 2001). They are seen as playing supportive roles to their husbands. In fact women constitute more than half of the total agricultural work force but there is inequality in access to land and other capital resources when compared to the men (Azikiwe, 1990). Therefore, women’s food production potential is being reduced because it is carried out on small and scattered pieces of land which may be unsuitable for the crops planted. This is worsened by little access to basic agricultural production facilities. Thus, rural women’s production efficiency and capacities are influenced negatively. This has caused lots of problems encountered by the great majority of rural women who wish to fully participate in farm work and contribute more to agricultural production.

OBJECTIVE OF THE STUDY
The main objective of this study is to ascertain the how effective is women labor utilization in crop production; but to aid the completion of the study; the following objectives is put forward by the researcher;

To identify the role of women labor utilization in crop production;
To ascertain the relationship between women and men labor utilization in crop production;
To identify the impact of women participation in farm activities;
To determine the effect of women labor utilization on the value of farm output
RESEARCH HYPOTHESES
For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H0: women labor utilization does not have any significant role in crop production

H1: women labor utilization does play a significant role in crop production.

H02: there is no significant relationship between women labor utilization and men labor utilization in crop production.

H2: there is a significant relationship between women labor utilization and men labor utilization in crop production.



1.5 SIGNIFICANCE OF THE STUDY

It is believed that at the completion of the study the findings will be of importance to ministry of agriculture as the study will seek to highlight the benefit of integrating women labor in crop production so as to explore the tremendous benefit of women labor in crop production. The study will also be useful to the ministry of women affairs as the study will guide them in to provide funds and make land available for women who are willing and able to work in the agricultural sector, The study will also be beneficial to researchers who intend to embark on study in similar topic as the study will serve as a guide to their study. Finally the study will be beneficial to academia’s students and the general public.

SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers women labor utilization in crop production in Nigeria. in the course of the study, the researcher encounters some constrain which limited the scope of the study;

(a)Availability of research material: The research material available to the researcher is insufficient, thereby limiting the study.

(b)Time: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.

(c)Finance: The finance available for the research work does not allow for wider coverage as resources are very limited as the researcher has other academic bills to cover.

1.7 DEFINITION OF TERMS

Woman

A woman is a female human. The term woman is usually reserved for an adult, with the term girl being the usual term for a female child or adolescent. The term woman is also sometimes used to identify a female human, regardless of age, as in phrases such as “women’s rights“. “Woman” may also refer to a person’s gender identity

Labor

Delivery of services by person for payment

Crop

A crop is any cultivated plant, fungus, or alga that is harvested for food, clothing, livestock, fodder, biofuel, medicine, or other uses. In contrast, animals that are raised by humans are called livestock, except those that are kept as pets. Microbes, such as bacteria or viruses, are referred to as cultures.

Crop Production

Crop production is a branch of agriculture that deals with growing crops for use as food and fiber. Degree programs in crop production are available at undergraduate and graduate levels. Graduates are eligible for a variety of agricultural careers.

1.8 Organization of the study

This research work is organized in five chapters, for easy understanding, as follows Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study. Chapter two highlight the theoretical framework on which the study its based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion and also recommendations made of the study.


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CHAPETR ONE

INTRODUCTION 

1.1        Background of the study

1.2        Statement of problem

1.3        Objective of the study

1.4        Research Hypotheses

1.5        Significance of the study

1.6        Scope and limitation of the study

1.7       Definition of terms

1.8       Organization of the study

CHAPETR TWO

2.0   LITERATURE REVIEW\

CHAPETR THREE

3.0        Research methodology

3.1    sources of data collection

3.3        Population of the study

3.4        Sampling and sampling distribution

3.5        Validation of research instrument

3.6        Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix

 

Abstract

This study is on value addition as a basis for enhancing productivity in rice production and processing. The total population for the study is 200 staff of selected rice farms in Enugu state. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made agronomists, soil scientists, supervisors and farmers were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies

 

 

 

 

 

 

 

 

 CHAPTER ONE

INTRODUCTION

1 Background of the study
The struggles of Nigeria farmers in finding ways to increase farm income, interest in “adding value” to raw agricultural products has grown tremendously. The value of farm products can be increased in endless ways: by cleaning and cooling, packaging, processing, distributing, cooking, combining, churning, culturing, grinding, hulling, extracting, drying, smoking, handcrafting, spinning, weaving, labeling, or packaging. According to  (Kaplinsky, 2010) value addition means adding value to a raw product by taking it to at least the next stage of production. This can be as simple as retaining ownership of your calves and wintering them on wheat pasture or placing them in a feedlot. Value can be added through membership in a cooperative that processes your products, such
as a cooperative cotton gin. Or, adding value may be as elaborate as going all the way to the consumer with a “case-ready” food product. Hence rice farmers have keen interest in adding value to their rice production and processing so as to enhance the product. Rice is an important staple food in Nigeria. Many Nigerians have developed tastes for polished and size-sorted medium to long-grained rice.  Local production of rice has been increasing over the years. Besides offering a higher return, value addition on rice production and processing can open new markets, create recognition for a farm, expand the market season, and make a positive contribution to the community like in the case of Adani in Uzo-Uwani Local Government Area of Enugu state of Nigeria. Though, value addition will enhance productivity in rice production and processing in the area but it is a long-term approach, not a “quick fix.” It requires the willingness and ability to take on risk, as well as adequate capital, management skills, and personal skills such as the ability to interact with the public to succeed (; Kaplinsky and Morris, 2000). Production is the process of transforming certain goods and services known as inputs into other goods and services known as products (Akubiloet al., 2007). It implies a series of processes, techniques, activities or procedures involved in combining resources of land, labour, capitals, water and management to generate useful effect or products. Value on the other hand implies worth, Benefits price or measure of importance. It is a factor of utility. Value can also be seen as the monetary term in which the utility of a product or an item can be explained. Therefore, value addition in the production and processing of rice implies all the activities, processes or strategies and distribution of rice which in one way or the other contribute to benefit/utility maximization (Owoh, 2008). It seeks a careful exploration into all the activities, processes or strategies of operation carried out in the production, processing, packaging and distribution of rice which contribute to the maximization of profit or utility derived from rice.

1.2 STATEMENT OF THE PROBLEM

Neglect of agricultural activities has been a very serious problem affecting both producers and marketers of agricultural produce in the country. This situation appears to be aggravated by government and policy makers who have not considered production and marketing of food crops as serious problems to the economic development of the nation. Nigeria has great potential to greatly enhance productivity in rice production and processing. Nigeria is one of the largest rice producing country in Africa. Though the rice locally produced and processed does not compare the foreign rice product in the market and this has made Nigeria the second world largest importer of rice. This is as a result of poor production and processing of locally produced rice. The application of value addition to rice production and processing will enhance the product.  Therefore, the basis for value addition is a necessity for enhancing productivity of rice production and processing.

1.3 OBJECTIVE OF THE STUDY

The broad objective of this study is to study value addition as a basis for enhancing productivity in rice production and processing in Adani, Uzo-Uwani Local Government Area of Enugu state of Nigeria.

The specific objectives are as follow;

Identify the socio-economic factors that affect the respondents in the production and processing of rice.
Determine the available technology that affects value addition in rice business.
Determine the cost and returns involved in rice processing
Examine the various value chains in the production and processing of rice in the area.
Identify the factors that encourage value addition.
1.4 RESEARCH HYPOTHESES

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H0: there are no socio-economic factors that affect the respondents in the production and processing of rice

.H1: there are socio-economic factors that affect the respondents in the production and processing of rice

H02: there is no available technology that affects value addition in rice business.

H2: there is available technology that affects value addition in rice business.

1.5 SIGNIFICANCE OF THE STUDY

From all indication the rate of rice importation is high due to insufficient production and lack of value addition to enhance the productivity of the rice production and processing. The result of this study will enable researcher, government and policy makers to know the problems and constraints that have hindered adequate local rice production, as this will help them to make policies that will tackle this problem. Also the result of this study will educate farmers on the importance of value addition on rice production and processing in order to improve productivity. Furthermore, this study will serve as a useful tool in guiding policy makers and to students who intend to carry out a research on related topic.

1.6 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers value addition as a basis for enhancing productivity in rice production and processing. The researcher encounters some constrain which limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.
1.7 DEFINITION OF TERMS

ENHANCING: Intensify, increase, or further improve the quality, value, or extent of.

PRODUCTIVITY: Productivity describes various measures of the efficiency of production. A productivity measure is expressed as the ratio of output to inputs used in a production process, i.e. output per unit of input.

PRODUCTION: Production is a process of combining various material inputs and immaterial inputs in order to make something for consumption. It is the act of creating output, a good or service which has value and contributes to the utility of individuals.

PROCESSING: Processing is an open-source computer programming language and integrated development environment built for the electronic arts, new media art, and visual design communities with the purpose of teaching

RICE: Rice is the seed of the grass species Oryza sativa or Oryza glaberrima. As a cereal grain, it is the most widely consumed staple food for a large part of the world’s human population, especially in Asia

1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding.  Chapter five gives summary, conclusion, and recommendations made of the study





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TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research Hypotheses

1.5 Significance of the study

1.6 Scope and limitation of the study

1.7 Definition of terms

1.8 Organization of the study

CHAPETR TWO

LITERATURE REVIEW

CHAPETR THREE

3.0 Research methodology

3.1 sources of data collection

3.3 Population of the study

3.4 Sampling and sampling distribution

3.5 Validation of research instrument

3.6 Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix



























Abstract

This study examined joint audit and audit quality of listed deposit money banks, drawing evidence from auditing firms. Data were collected through statistical bulletin and published financial statement, SPSS statistical package were used to perform using descriptive statistic, Pearson Product Moment Coefficient of Correlation. Findings indicate a statistically significantly positively strong relationship between the measures of audit quality (auditor independence, technical training and proficiency and engagement performance) and financial reporting (measured in terms of reliability of financial report). Given the existence of technical training and proficiency and engagement performance, auditor independence is a prime audit quality in financial reporting. Accounting practitioners should imbibe the ethics of independence to achieve credibility and reliability required of financial reports.









CHAPTER ONE

INTRODUCTION

1.1 Background of the study

The stakeholders’ pressure on corporate managers to maintain firm’s profitability has created economic incentives for management to engage in earnings management practices. Therefore, this study examines the effects of audit quality and corporate governance on earnings management of quoted deposit money banks (DMBs) in Nigeria. This study specifically investigates the efficacy of joint audit and audit quality of listed deposit money bank, board independence, and board size on earnings management of DMBs. The consequential audit failure in Enron’s case of 2002 has brought about series of regulations and guidelines in the accounting profession and other related professions such as the 2002 US Sarbanes Oxley’s, the 2003 Nigerian Code of Corporate Governance, and the UK Financial Reporting Council, just to mention a few. However, despite the aftermath of the regulations and reporting guidelines and significant progress in the quality of audit service; there are still reported cases of audit and corporate failure perhaps stemming from earning management practice, particularly in Nigeria (Cadbury Nigeria Plc, Intercontinental Bank Plc, Savannah Bank and Bank PHB) and also across Europe, Australia and the United States, just to mention a few. Although it has not been proved by any detailed investigation that these audit failures were due to low quality of audit service or weak code of corporate governance stemming from earnings management practice, it could however reasonably be suspected to be the contributing factor. These corporate scandals have discouraged the public from having confidence in audit reports. Meanwhile, the demand for external audit was as the result of the agency problems arising from the asymmetric information between banks’ shareholders and banks’ management. Accounting records have indicated that the existence of asymmetric information between shareholders and management underpin the practice of earnings management in companies. Earnings management occurs when information asymmetry exist between shareholders and managers, shareholders have inadequate access to relevant information to monitor manager’s actions. Earning management is a strategy used by the management of a firm to deliberately manipulate the firm’s earnings so that the figures match a pre-determined benchmark. This practice is carried out for the purpose of income smoothing. Although the different methods used by managers to smooth earnings can be very complex and confusing, the vital point to remember is that the driving force behind managing earnings is to meet a pre-determined target. One of the methods of earnings management is discretionary accruals accounting (which also serve as the proxy for earnings management in the literature and in this study) which gives opportunities of discretion to management in determining the actual earnings of a bank. However, earnings are the powerful indicators of banking business activities. Since a bank’s stock is measured by the present value of its future earnings, investors and analysts look to earnings to determine the attractiveness of a particular stock. Banks with poor earnings prospects will typically have lower share prices than those with good prospects. So, earnings management plays a key role to determine the share price of a bank as well as direct resource allocation in capital markets. Manipulation of accounting records by the preparer of financial statement through recording a fictitious inventory and hiding liabilities even in the face of audited financial reports may be attributable to the stakeholders’ pressure on corporate managers to maintain profitability. Furthermore, since the values of the banks are linked to the reported earnings figures, it creates economic incentives for management to engage in earnings management. In the context of these challenges and foregoing analysis motivated this study to integrate both corporate governance and audit quality to determine the level (extent) of earnings management of DMBs in Nigeria. In 2005, the Central Bank of Nigeria mandated every Nigerian bank to increase capital base from 2 billion naira to 25 billion Naira in order to enhance competitiveness in the international market. Noteworthy capital market expectations were raised and banks were under pressure to achieve survival and generate higher returns to shareholders. This pressure from the Central Bank of Nigeria has occasioned banks falsifying accounts, inflating earnings and capital. The need for reliable reports has led to statutory audit that provides independent authentication of financial statements prepared by banks’ directors. Auditors are instructed to report financial misdemeanors in company’s accounts to increase transparency and accountability through fraud detection. Earnings are made up of accruals and cash items and accruals are basically controlled by company’s stewards. Management can bloat performance of company and future earnings predictions through manipulation of accruals resulting in earnings management. Financial reports contain accounting information which different users use to appraise firm’s performance. Investors use cash flow statement to make investment decisions thereby creating room for highly motivated and intelligent management teams to manipulate the real economic operations to influence the true picture of a company’s cash flow from operations. Since accrual accounting measures the performance of company by recognizing economic events irrespective of when transactions occur. Earnings management is therefore, discovered by conducting tests on the components of accrual assumed to be at the managerial discretionary accruals thereby revealing information asymmetries. Accounting scandals experienced in the last few years have affected the regulators’ trust of financial statements. This scandal and its consequent results are reasons for drawing attention to quality and reliability of financial statements in the banking sector. Therefore, the absence of investors’ confidence in the reported earnings influence the financial market because investors are major players in ensuring availability of capital to support the economic system. Given the above state, this study seeks to assess the effect of audit quality on earnings management in Nigerian listed deposit money banks. The broad objective of this study is to identify relationship between audit quality and earnings management of Nigerian listed money deposit banks while to assess relationship among joint audit, auditor specialization, auditor independence and audit tenure on the earnings management in the listed deposit money banks in Nigeria would need to established.

1.2 STATEMENT OF THE PROBLEM

The bank credit fraud in Nigeria despite the introduction of joint audit and audit committee this has placed a question mark on the quality of audit carried out in deposit money banks (DMBs). The fraud prevalent in the financial statement of DMBs is becoming worrisome, this is because incident of a bank declaring a huge amount of profit at the close of financial year and two months later the bank has either been acquired by another bank or taken over by asset management committee of Nigeria as a result of either inability to meet the stipulated reserve or cost of operation. This and so many other instances is becoming unbecoming in the audit profession, due to the fact that questions are being asked as to the extent of reliability of the audited financial report. Furthermore, banks default and distress have hampered their performance significantly and diminished investors‟ confidence in the banks, thereby casting doubt as to the efficacy of the audit committee functions. There are divergent views on the relationship between joint audit and audit quality in DMBs in Nigeria. Some of the arguments support the link between Corporate Governance and performance while others see no link between Corporate Governance and performance. There is a skew in approach and method on study relating to joint audit, audit committee and audit quality and the studies are mostly concentrated on studies conducted in advanced countries with more matured financial systems compared to the developing countries like Nigeria.

1.3 OBJECTIVE OF THE STUDY

The main objective of this study is to examine the effect of joint audit and audit quality of listed deposit money banks in Nigeria, but to aid the completion of the study, the researcher intend to achieve the following specific objectives;

i) To examine the effect of joint audit on audit quality of listed deposit money banks in Nigeria
ii) To ascertain if there is any significant relationship between joint audit and audit quality of listed deposit money banks
iii) To examine the role of audit committee in ensuring quality audit work in listed deposit money banks in Nigeria

iv) To examine the impact of quality audit on the reliability on the financial report by investors and potential investors
1.4 RESEARCH QUESTIONS

To aid the completion of the study, the following research questions were formulated by the researcher;

i) Does joint audit has any effect on audit quality of listed deposit money banks in Nigeria?
ii) Is there any significant relationship between joint audit and audit quality of listed deposit money banks?
iii) Does audit committee play any role in ensuring quality audit work in listed deposit money banks in Nigeria?

iv) Does quality audit has any impact on the reliability on the financial report by investors and potential investors?
1.5 RESEARCH HYPOTHESES

H0: There is no significant relationship between joint audit and audit quality of listed deposit money banks

H1: There is a significant relationship between joint audit and audit quality of listed deposit money banks

H0: joint audit does not have any effect on audit quality of listed deposit money banks in Nigeria

H2: joint audit does have an effect on audit quality of listed deposit money banks in Nigeria

1.6 SIGNIFICANCE OF THE STUDY

It is believed that at the completion of the study, the findings will be of great importance to the management of deposit money banks as the study seek to explore the benefit of joint audit on audit quality of listed deposit money banks in Nigeria, the study will also be of great value to accounting undergraduate student as the findings of this study will give them a potential insight into the importance of auditing and accounting profession on the existence and functioning of business organization. The study will be of importance to researchers who intend to embark on a study in a similar topic as the findings of this study will serve as a reference point to further studies, finally, the study will be of significance to student, teachers, academia’s and the general public as the study will contribute to the pool of existing literature and also add to knowledge in the subject matter.

1.7 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers joint audit and audit quality of listed deposit money banks in Nigeria, but in the cause of the study, there are some factors that limited the scope of the study which is beyond the researchers control:

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Finance: the finance at the disposal of the researcher is a major constrain to the scope of the study, as the researcher could not cover more grounds for the study.
1.8 OPERATIONAL DEFINITION OF TERMS

Auditing

Financial auditing is the process of examining an organization’s (or individual’s) financial records to determine if they are accurate and in accordance with any applicable rules (including accepted accounting standards), regulations, and laws.

Audit

An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern

Joint audit

A joint audit is an audit on a legal entity by two or more auditors to produce a single audit report, thereby sharing responsibility for the audit. A typical joint audit has audit planning performed jointly and fieldwork allocated to the auditors. The auditors are typically not individuals, but auditing firms

Audit committee

An audit committee is one of the major operating committees of a company’s board of directors that is in charge of overseeing financial reporting and disclosure. All U.S. publicly-traded companies must maintain a qualified audit committee in order to be listed on a stock exchange

1.9 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows. Chapter one is concern with the introduction, which consist of the (background of the study), statement of the problem, objectives of the study, research questions, research hypotheses, significance of the study, scope of the study etc. Chapter two being the review of the related literature presents the theoretical framework, conceptual framework and other areas concerning the subject matter. Chapter three is a research methodology covers deals on the research design and methods adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.

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Abstract

Gender equality is one of the major problem that is affecting people in the society, it affect everybody in one way of the other. The study identified the level of gender equality in Makurdi local government Area, Benue State. The objective of the study is to explain the causes of gender equality in Makurdi. To explain the roles and status of women in Makurdi local government area, Benue State. To determine or explain how gender equality hinder or affect the Social economic and political development of people in Makurdi. Data was collected from one source which is the primary through the use of questionnaire: Sample from the research is one hundred and twenty (120) people, which was gotten through random technique. Table 10 from the findings indicates that the status and roles of women in Makurdi local government Area of Benue State have considerately change after the Beijing conference, it shows that as much as 95(79.1%) respondents agreed that formal education for women in Benue State have increased over the years and teenage marriage declined. The study recommends that, there should exist a mutual relationship and inter-networking projects between local women groups, N.G.O’S and government agencies so that more women can be involved in the efforts towards achieving women empowerment







CHAPTER ONE

INTRODUCTION

Background of the study
The history of women equality in Nigeria can be traced to pre-colonial, colonial and post colonial to the present dispensation, globally, the struggle of gender equality occurred for over a long period of time by leading countries such as the United States of America, France and Britain (ojiakolor and Nwachukwu, 1998). Early efforts were made at the 4th world conference on women held in Beijing, china, between 4th _15th September, 1995 in order to adopt a women’s right charter which would allow women to compete favorably with their male counterparts and ensure global gender equality.

Despites the provision in the constitution of the federal republic of Nigeria which prohibits discrimination on the basis of sex, religion, ethnic group and state, it has been duly observed that the male folk in Nigeria have continued to treat women as inferior and subordinate. Women have been grossly marginalized in organizations and public offices where leadership positions are reserved only for men, in most societies, the place of women no matter how educated they are believed to be, the kitchen. Toye olori, (2005).

Going by statistics in Benue state, Angya (2003) holds that women have continued to be underrepresented in higher post in the civil service, judiciary executive and legislative arms of the government at the detriment of woman, although they have immensely contributed towards the nations socioeconomic development at least, women have remained the unheard voice, disempowered by un even distribution in the allocation of power, wealth and status. Women in Makurdi area of Benue state have been stratified, manipulated, relegated and marginalized against the back drop of a century were they represent a potent force in agricultural and economic production and also constituting an unprecedented percentage of global population.

There are various disparities in the socio existence of people due to the differences based on their sexes and fair balance which would ensure that one sex has no advantage over the other is what is implied here to mean gender equality, it is against this background that this research work aims at assessing the impact of the fourth world conference and women held in 1995, Beijing, china, the declaration and the adoption of the plat form for action on the status with particular reference to Makurdi local government area of Benue state.

1.2 STATEMENT OF THE PROBLEM

Gender inequality has remained a serious problem in all societies world over. The debate on women equality has attracted vast attention in many countries recently, the united state of America, various demonstration and protests over rights against discrimination and violence against women have become salient in the country’s history. In Makurdi Benue state, the situation is not quite different, it more appalling. Over the years, Benue state have experienced a tremendous occurrence of gender equality given the fact that women have contributed significantly to the general development of their various societies yet their effort are not recognized. This is more evident in rural communities were women are actively involved in the cultivation of food and cash crops to boost the economy of family and state, but their effort in this direction are often not appreciated and they lack the right to decide in the allocation of the resources they produce.

Women in Makurdi local government area of Benue state have always played five key roles which include that of mother’s agricultural producers, sex providers, house wives and community organizers, but despite their increasing population and crucial roles in the development process, the division of roles between males and females assigns the subordinate position to females. This is usually prescribed by the dominant culture where by customary practices are biased against women and only serve to further oppress and subjugate, them.

This undermining their individual self esteem, rural communities in Benue state have approved practices such as preference for the male child, degrading widowhood rites, physical abuse, molestation and sexual abuse etc. even in urban centre’s and civilized circles, the stereotyped, gender roles condition women into accepting social debasements and over playing their felinity by accepting the position of the weaker sex, and this over emphasizing the dainty nature of their sex.

In other words, the question on the lips of many is what changes has the world conference on women held in 1995 in Beijing, china brought to Makurdi local government area of Benue state are exposed has not really changed for the better compared to what it used to be during the pre-colonial era , therefore the negligence of women as a main gender classification in Makurdi local government area of Benue state and how the Beijing conference have influenced their status gave rise to the study of this research project.

RESEARCH QUESTION
The following research questions will guide this study

What are the causes of gender equality in Makurdi local government area of Benue state?
What are the roles and status of women in Makurdi local government area of Benue state?
How does gender inequality hinder or affect the social economic and political development of Benue state.
To what extent do the Beijing declaration and the platform for action affect gender equality in Makurdi local government area of Benue state?
How can discrimination against women and all forms of gender based violence be curbed. Makurdi local government area of Benue state.
How can women be empowered in Benue state.
1.4 OBJECTIVE OF THE STUDY

Based on the research questions, the objectives of the study can be concisely summarized as follows

a) To explain the causes of gender equality in Makurdi local government area of Benue state.
b) To explain the roles and status of women in Makurdi local
Government Area, Benue state?

c) To determine or explain how gender equality hinders or affects the social economic and political development of people in Makurdi local government area of Benue state?
d) To determine the extent Beijing declaration and the platform for action affect gender equality in Makurdi local government area of Benue state?
e) To ascertain how discrimination against women and all forms of gender based violence can be curbed in Makurdi local government area of Benue state?
f) To examined ways of empowering women in Makurdi local
Government Area, Benue state?

SIGNIFICANCE OF THE STUDY
The study of gender equality is a very sensitive barometer of social problems and an indicator that sheds light on many important social problems, and the level of development a society has attained.

In Makurdi local government area of Benue state, the process of the establishment of gender equality is going ahead in an inseparable unity with society’s economic political and cultural process.

This study is significant because it will highlight the role of gender equality in societal development, similarly, it is hope that the findings and recommendations of this study will help many Non- governmental organization (NGO), and international organizations in devising and planning appropriate ways towards women empowerment and it will also influence policy makers to better status of women in Nigeria.

Finally, this research is hoped to serve as a source of information to various authorities that could help for further research project would also serve as a reference point for the other researchers interested in gender related issues.

1.6 DEFINITION OF TERMS

Gender

Gender refers to those characteristics of men and women that are socially and culturally defined, that is the different behaviours, roles, expectations and responsibilities all men and women learn in the context of their own societies (American Health organization, 1997).

Women

The united nations (1986) defined women as the feminine components of the human species who apart from serving as a vehicle of nurturing human life also sere agents for fostering a whole some political, social and economic development in any society, women are different from male counterparts, which reflects the genetic and biological make up of the sexes.

Gender Mainstream

According to the united nations economic and social council (1997;2), gender mainstreaming is the process of assessing the implications for women and men of planned action, including, legislation, policy and programming in all and at all levels.

Gender Inequality

Gender or women inequality is defined by article one of the united nations convention on the elimination of all forms of violence and discrimination against women as any distinction, exclusion or restriction made on the basis of sex which has the effects or purpose of impairing the recognition, enjoyment or exercise by women irrespective of their marital status, on a basis of equality of men and women, of human rights and fundamental freedoms in the political, economical, social, cultural, civil or any other field.

Women Empowerment

According to sand brook (1993), women empowerment can be defined as a process which involves the transformation of the economic, social, psychological, political and legal circumstances of women.

Women empowerment also refers to the dismantling of the cultural norms and traditional practices that devalue, disempowered and disposes women, the process must also necessarily include the expansion of women’s access to educational opportunities, facilities for skill acquisition and positions of authority (Win, 2005)

Stereo Types

These are over simplified but strongly ideas about the characteristics of males and females.

(Barsow 1986), they help maintain gender roles by shaping ideas about gender equality to which men and women are naturally suited (Barbara lioyd 1985).


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Abstract

The persistence of Boko Haram insurgency impinges upon Nigeria’s relations with US, which have been cordial but restricted. Researchers have divergent opinion about the extent U.S. should be committed in assisting Nigeria in countering Boko Haram insurgency. Researches on the interconnectivity between Boko Haram insurgency and Nigeria’s-US military-security partnership, trade and aid are inadequate and do not reflect current developments. Consequently, the study set out to examine the effects of Boko Haram insurgency on Nigeria’s relations with US from 2009 to June 2014. It was guided by two research questions. This study employs pre-test post-test research design, qualitative descriptive and quantitative method of data analysis. Linkage Politics was the theoretical framework applied to interrogate the issues under discuss. The research discovered that persistence in Boko Haram insurgency has resulted to changes in the content of Nigeria’s military-security partnership with US, as typified in unprecedented direct request by Nigeria and assistance from US, coupled with reactive change in policy of both nations. It was also ascertained that persistence of Boko Haram insurgency failed to cause a decline in U.S

CHAPTER ONE

INTRODUCTION

Background of the study
Universally, security is the heart of sovereign political entities. This is the reason why national security, construed as the “socioeconomic, political, cultural and military strategies that would promote, preserve and maintain the interest of a nation, including its citizens’ interests” (Pogoson, 2013:10) and the protection of all the values, including political independence and territorial integrity of a state (Baldwin, 1997), is a central element of the national interest and policy objectives of all sovereign states. In Nigeria, national security, as articulated by President Olusegun Obasanjo (1999- 2007), is “the aggregation of the security interests of all individuals, communities, ethnic groups and entities, and institutions, which make up Nigeria” (Pogoson, 2013:22). The aim, Obasanjo noted, is to strengthen the country, promote national interest and goal, enhance human development, contain instability and control crimes. In the same vein, Nigeria’s national security has been explained as the protection of the country from external aggression, containing internal upheavals, enhancing genuine development and improving the general wellbeing of the citizens (Ibid). These conceptualizations are plausible because they recognise that national security in Nigeria encompasses the physical/state security (defence of sovereignty, unity and territorial integrity) of the country, as well as the security of the people from hunger, crimes, diseases, social conϐlicts, unemployment, political repression, and environmental hazards (otherwise called human security) (Booysen, 2002; UNDP, 1994). These conceptualisations of Nigeria’s national security draw from the country’s federal constitutions since independence in 1960, in which the defence of sovereignty, independence, unity and territorial integrity, together with the welfare of the people are highlighted and emphasised. The 1999 [amended] Constitution, for example, like its predecessors, establishes, on the one hand, the security architecture for ensuring the physical/state security of Nigeria, including internal policing and protection from internal and external aggression, and, on the other hand, mandates the government to promote the welfare of the people. The security architecture, according to sections 214 and 217 of the Constitution, includes the police and the armed forces, consisting of an army, a navy, an air force and such other branches of the armed forces that may be established by an Act of the National Assembly (Federal Republic of Nigeria [FRN], 2010). National image is a psychological objective of foreign policy. Positive image building and good image substance are among other determinants that determines the level of influence and relevance of a nation in international politics. Therefore, the positive perception of any country’s image is an important gauge for judging her standing in the international political system. A good image translates to respect, influence, and prestige and to some extent economic prosperity, as this will encourage prospective foreign investors. On the other hand, a bad or negative perception of a country’s image indicates that such a country loses respect, influence and prestige in the comity of nations. As a result, every nation tries to build, maintain and enhance their images in relation to other nations. The factors that determine a nation’s image can be both internal and external. Internally, a succession of regimes of bad policies and practice can lead to bad image; and externally, it could be through participation in foreign military and humanitarian missions. An image problem usually occurs when there are both internal and external factors that sway the pendulum towards a bad/negative image. Egwemi (2010:131) notes that, Nigeria’s external image has swung between periods of extreme positivity to periods of extreme negativity. Over time, Nigeria’s image in the comity of nations have been characterized with times of good (1960-1967, 1970-1983 and 1999- 2007), and bad periods (1993-1999, 2007-2014). Successive governments in Nigeria, have committed huge resources to foreign agencies to launder her badly damaged image arising from such factors as corruption, nepotism, ethno-religious fundamentalism, authoritarianism, advance fee fraud (also known as 419), human trafficking, electoral malpractices, internet fraudster, the hanging of Ken Saro-Wiwa and the nine Ogoni environmental activists and involvement of Nigerians in other forms of trans-national criminal activities. The Niger-Delta crisis which was devastating impacted negatively on the image of Nigeria in the international system (Ademola, 2006:14) and on its national economy.

STATEMENT OF THE PROBLEM
In recent years, terrorist activities of the Boko Haram insurgent group in North Eastern Nigeria have been a cause for concern to the Nigerian state, Nigerians and the world at large. The group drew the attention of Nigerians and that of the international community following series of violent attacks in Nigeria since July 2009 (Ola, 2013:3). The sequence of events informed the US African Command (AFRICOM) commander General Caryter Hamin in September of 2011 to list Boko Haram as one of the three African terrorist groups. In June 2012, the US government named three leaders of the sect as global terrorists and on November 2013, the United States’ Department of States added the Nigerian based Jihadist group, Boko Haram and its splinter faction known as Ansaru, to the list of foreign terrorist organisations and specially designated Global terrorist entities (Vanguard, November 2013). This meant that Nigeria is now listed as a country where terrorism thrives; this posture has impact on the nation’s external image. It is against this premise that the researcher intend to investigate the impact of Boko Haram insurgency and Nigeria’s relations with the united nations state.

OBJECTIVE OF THE STUDY
The main objective of this study is to ascertain the effect of Boko Haram insurgency and Nigeria’s relations with the united nations states but to aid the completion of the study, the researcher intend to achieve the following specific objective:

To ascertain the effect of Boko Haram insurgency in Nigeria’s foreign image
To ascertain the effect of Boko Haram insurgency in Nigeria’s relationship with united nations member states
To appraise the impact of Boko Haram insurgency in Nigeria’s foreign relations
To proffer suggested solution to the identified problem
SIGNIFICANCE OF THE STUDY
It is believed that at the completion of the study, the findings will be of great importance to the federal government and the national emergency management agency in developing appropriate strategy in and curtailing the adverse effect of the activities of the Boko Haram sect.

The study will also be useful to the state government; as the findings will guide them in coming up with strategies on how to carter for the survival of the attack of the Boko Haram sect. the study will also of great importance to researchers who wants to embark on investigation in similar topic as the study will serve as a guide to them. Finally the study will be of great importance to academia, teachers, students, lecturers and the general public.


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CHAPETR ONE

INTRODUCTION 

1.1        Background of the study

1.2        Statement of problem

1.3        Objective of the study

1.4        Research Hypotheses

1.5        Significance of the study

1.6        Scope and limitation of the study

1.7       Definition of terms

1.8       Organization of the study

CHAPETR TWO

2.0   LITERATURE REVIEW

CHAPETR THREE

3.0        Research methodology

3.1    sources of data collection

3.3        Population of the study

3.4        Sampling and sampling distribution

3.5        Validation of research instrument

3.6        Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix

 

 

Abstract

This study is on violations of ethical journalism among media practitioners in Nigeria: causes, effects and solutions. The total population for the study is 200 members of NUJ, Abuja. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made production chairmen, secretaries, new members and old members were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies

 

 

 

 

 

 

 

 

 CHAPTER ONE

INTRODUCTION

Background of the study
Journalism entails a high degree of public trust. To earn and maintain this trust, it is morally imperative for every journalist and every news medium to observe the highest professional and ethical standard. In the exercise of these duties, a journalist should always have a healthy regard for the public interest. Journalism is information. ‘’It is communication and it is the events of the day distilled into few words, sound  or pictures, processed by the mechanics of communication to satisfy the human curiosity of the world that is always eager to know what is news Journalism may also be entertained or reassurance to people who are ‘’always eager to be comforted with the knowledge just like us’’. Basically, Journalism is news. ‘’It is the profession of gathering writing and editing news’’. A Journalist is therefore “someone whose training in Mass communication and mass media makes him or her witness and prophet of cultural, economic, media and ethical norms of the society. Truth is his watchword.”His primary role is to seek for and report events of public interest in an objective manner. He should publish only facts and never to suppress or falsify such facts to suit his own purpose. News must be represented to the public untainted by any personal bias or outside influence. Journalism is an editorial staff of a newspaper, radio, television, magazine, ministry of information, freelance or those that have branched into Public Relation Practice.  In Nigerian, the Nigeria Union of Journalism (NUJ) serves as the professional trade union umbrella shielding journalist apart from other associations which are subordinate to the NUJ. Journalism goes beyond mere writing; there are more complex, technical sides of the profession like News Gathering, News reporting, sub – editing, page planning and design, photography and cropping, etc. For the purpose of this study, we will settle with the definition as given by David Wainwright, which says, “Journalism is communication” as stated earlier. According to Frank Cadin, “Journalism is a highly responsible profession which calls for outstanding qualities of mind and character. Journalism can be described as a profession of someone who earns his regular means of livelihood by contributing to the making of a media organ either by writing, editing or newspaper production. In addition, it can be referred to as catalysis of the development of the society when talking about ethics. It is all about opinion, principle or standard set of laws. Ethics is simply the norms for conduct that distinguish between acceptable and unacceptable behaviour. It is normal principles that govern a person’s or group behaviour. Journalistic ethics is the branch of philosophy which aids journalists in determining what is right to do and it is ultimately concerned with providing moral principles or norms for Journalistic actions. It set guideline, rules, norms or codes that will lead the journalist to be more humane as there have being abuse of the profession by the media. An Ethical code is without doubt a sine qua non in any profession. Journalism today faces an increasing need for critical reporting, accuracy fairness and objectivity. The Ethics of journalism is therefore, the companion of the practicing Journalist as well as the informed public in providing ethical guidelines by which practitioner can judge and be the judged. There are bodies which regulate and provide these ethics for this profession such as: New Nigerian Union of Journalists, Nigerian Guild of Editors (NGE), and Newspaper Proprietors Association of Nigerians (NPAN) among others.  Media ownership is an excuse of practicing corrupt journalism by which Journalist are compelled to write, gather and publish information to suit the interest of the owner. A Government owned media will not allow the truth to be published concerning the government, that is, government mismanagement of office, wrong use of power, bribery and other forms of corruption cannot be investigated by a Journalist working under the government. Such media only reflect false positive image of the Government on the society. Same to private, Journalist is required to praise, fear and obey his boss. It allowed unskilled Journalist in the field and also encourages lack of professionalism. An example of lack of accuracy in journalism of Nigeria Media, is the recent killings and bombings by some religious or group (BOKO HARAM) especially in the Northern part of the country, different station with different information that is the place of event or number of victims involved or those that were suspected. In this case, the society is thrown into confusion of which media are to believe and trust for information and how concerned or effective the information is to every individual. Also an example of past event of violations of Ethical Journalism was the wrong published of Akinloye’s death who was the former Chairman of the defunct National Party of Nigeria on the front page of Vanguard Newspaper on April 21st 1998. Which turned out to be false after it was discovered that chief Akinloye was in London, Hale and Healthy and the newspaper was made to call and correct it earlier misinformation on Friday April 22nd 1998. Perhaps, the newspaper had called London in the first instance for verification of the information it would not have been published and of course, such error question the media credibility. As truth is the cornerstone of journalism, both journalists and media houses should strive diligently to ascertain the truth of every event.

1.2 STATEMENT OF THE PROBLEM

Journalism practice in Nigeria is increasingly becoming difficult to situate within the mainstream of what journalism ought to be in the real sense of its professional practice as guided by its ethics. Today, there are internal and external factors that pose a great challenge to the practice of journalism as a profession. Arguably, studies have shown that the absence of a prescribed qualifying test has made it difficult to moderate the standard of journalism practice in Nigeria (Adaja, 2012; Oso, 2012). The self-censorship syndrome, inducement through brown envelope, pressure from individuals, groups and organizations, laws and administrative decisions, poor remuneration for journalists, absence of technical know-how amongst others, have all combined to make the journalism profession a mockery of its standard of practice. Certain inadequacies among the regulating bodies and non-professional filtration of yellow journalism practice and other unprofessional approaches to the profession have reduced and threatened the code of ethics upon which the journalism profession is expected to thrive. It is on this premise that this study sought to investigate violation of ethical journalism among media practitioners in Nigeria: causes, effects and solutions

OBJECTIVE OF THE STUDY
The objectives of the study are;

To ascertain the causes of violations of ethical journalism among media practitioners in Nigeria
To examine the effect of violating the ethical journalism among media practitioners in Nigeria
To ascertain whether ethical challenges and non-professionalism affects journalism practice in Nigeria
To find the possible solution to the causes of violation of ethical journalism among media practitioners in Nigeria
1.4 RESEARCH HYPOTHESES

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H0: there are no causes of violations of ethical journalism among media practitioners in Nigeria

H1: there are causes of violations of ethical journalism among media practitioners in Nigeria

H02: there is no effect of violating the ethical journalism among media practitioners in Nigeria

H2: there is effect of violating the ethical journalism among media practitioners in Nigeria

1.5 SIGNIFICANCE OF THE STUDY

This study will give clear insight on violations of ethical journalism among media practitioners in Nigeria: causes, effects and solutions. The study will be beneficial to practitioners of journalism and the general public. It will also serve as a reference to other researchers that will embark on this topic.

 

 

 

1.6 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers violation of ethical journalism among media practitioners in Nigeria: causes, effects and solutions. The researcher encounters some constrain which limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.
1.7 DEFINITION OF TERMS 

VIOLATION: The action of violating someone or something.

ETHICAL JOURNALISM: Journalism ethics and standards comprise principles of ethics and of good practice as applicable to the specific challenges faced by journalists.

MEDIA PRACTITIONER: Media relations and public relations practitioners should read as many magazines, journals, newspapers, and blogs as possible, as they relate to one’s practice. Organizations often compile what is known as a media list, or a list of possible media outlets who may be interested in an organization’s information.

Ethics: Set of concepts and principles that guide behaviours and conducts of a particular group of people (i.e. Journalists). They are also seen as motivation based on ideas of right and wrong

Journalism: The process of gathering, processing, and disseminating of information to mass heterogeneous audience through the mass media. It also entails reporting or photographing or editing news stories for the media.

Practice: A way of operation that is customary. It is the exercise of a profession (i.e. Journalism Profession).

Challenges: Demanding situations that hinder the operations of journalists based on their principles of behavior and conduct of operation.

1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding.  Chapter five gives summary, conclusion, and recommendations made of the study



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CHAPETR ONE

INTRODUCTION 

1.1        Background of the study

1.2        Statement of problem

1.3        Objective of the study

1.4        Research Hypotheses

1.5        Significance of the study

1.6        Scope and limitation of the study

1.7       Definition of terms

1.8       Organization of the study

CHAPETR TWO

2.0   LITERATURE REVIEW

CHAPETR THREE

3.0        Research methodology

3.1    sources of data collection

3.3        Population of the study

3.4        Sampling and sampling distribution

3.5        Validation of research instrument

3.6        Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix

 

 

Abstract

This study is on violations of ethical journalism among media practitioners in Nigeria: causes, effects and solutions. The total population for the study is 200 members of NUJ, Abuja. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made production chairmen, secretaries, new members and old members were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies

 

 

 

 

 

 

 

 

 CHAPTER ONE

INTRODUCTION

Background of the study
Journalism entails a high degree of public trust. To earn and maintain this trust, it is morally imperative for every journalist and every news medium to observe the highest professional and ethical standard. In the exercise of these duties, a journalist should always have a healthy regard for the public interest. Journalism is information. ‘’It is communication and it is the events of the day distilled into few words, sound  or pictures, processed by the mechanics of communication to satisfy the human curiosity of the world that is always eager to know what is news Journalism may also be entertained or reassurance to people who are ‘’always eager to be comforted with the knowledge just like us’’. Basically, Journalism is news. ‘’It is the profession of gathering writing and editing news’’. A Journalist is therefore “someone whose training in Mass communication and mass media makes him or her witness and prophet of cultural, economic, media and ethical norms of the society. Truth is his watchword.”His primary role is to seek for and report events of public interest in an objective manner. He should publish only facts and never to suppress or falsify such facts to suit his own purpose. News must be represented to the public untainted by any personal bias or outside influence. Journalism is an editorial staff of a newspaper, radio, television, magazine, ministry of information, freelance or those that have branched into Public Relation Practice.  In Nigerian, the Nigeria Union of Journalism (NUJ) serves as the professional trade union umbrella shielding journalist apart from other associations which are subordinate to the NUJ. Journalism goes beyond mere writing; there are more complex, technical sides of the profession like News Gathering, News reporting, sub – editing, page planning and design, photography and cropping, etc. For the purpose of this study, we will settle with the definition as given by David Wainwright, which says, “Journalism is communication” as stated earlier. According to Frank Cadin, “Journalism is a highly responsible profession which calls for outstanding qualities of mind and character. Journalism can be described as a profession of someone who earns his regular means of livelihood by contributing to the making of a media organ either by writing, editing or newspaper production. In addition, it can be referred to as catalysis of the development of the society when talking about ethics. It is all about opinion, principle or standard set of laws. Ethics is simply the norms for conduct that distinguish between acceptable and unacceptable behaviour. It is normal principles that govern a person’s or group behaviour. Journalistic ethics is the branch of philosophy which aids journalists in determining what is right to do and it is ultimately concerned with providing moral principles or norms for Journalistic actions. It set guideline, rules, norms or codes that will lead the journalist to be more humane as there have being abuse of the profession by the media. An Ethical code is without doubt a sine qua non in any profession. Journalism today faces an increasing need for critical reporting, accuracy fairness and objectivity. The Ethics of journalism is therefore, the companion of the practicing Journalist as well as the informed public in providing ethical guidelines by which practitioner can judge and be the judged. There are bodies which regulate and provide these ethics for this profession such as: New Nigerian Union of Journalists, Nigerian Guild of Editors (NGE), and Newspaper Proprietors Association of Nigerians (NPAN) among others.  Media ownership is an excuse of practicing corrupt journalism by which Journalist are compelled to write, gather and publish information to suit the interest of the owner. A Government owned media will not allow the truth to be published concerning the government, that is, government mismanagement of office, wrong use of power, bribery and other forms of corruption cannot be investigated by a Journalist working under the government. Such media only reflect false positive image of the Government on the society. Same to private, Journalist is required to praise, fear and obey his boss. It allowed unskilled Journalist in the field and also encourages lack of professionalism. An example of lack of accuracy in journalism of Nigeria Media, is the recent killings and bombings by some religious or group (BOKO HARAM) especially in the Northern part of the country, different station with different information that is the place of event or number of victims involved or those that were suspected. In this case, the society is thrown into confusion of which media are to believe and trust for information and how concerned or effective the information is to every individual. Also an example of past event of violations of Ethical Journalism was the wrong published of Akinloye’s death who was the former Chairman of the defunct National Party of Nigeria on the front page of Vanguard Newspaper on April 21st 1998. Which turned out to be false after it was discovered that chief Akinloye was in London, Hale and Healthy and the newspaper was made to call and correct it earlier misinformation on Friday April 22nd 1998. Perhaps, the newspaper had called London in the first instance for verification of the information it would not have been published and of course, such error question the media credibility. As truth is the cornerstone of journalism, both journalists and media houses should strive diligently to ascertain the truth of every event.

1.2 STATEMENT OF THE PROBLEM

Journalism practice in Nigeria is increasingly becoming difficult to situate within the mainstream of what journalism ought to be in the real sense of its professional practice as guided by its ethics. Today, there are internal and external factors that pose a great challenge to the practice of journalism as a profession. Arguably, studies have shown that the absence of a prescribed qualifying test has made it difficult to moderate the standard of journalism practice in Nigeria (Adaja, 2012; Oso, 2012). The self-censorship syndrome, inducement through brown envelope, pressure from individuals, groups and organizations, laws and administrative decisions, poor remuneration for journalists, absence of technical know-how amongst others, have all combined to make the journalism profession a mockery of its standard of practice. Certain inadequacies among the regulating bodies and non-professional filtration of yellow journalism practice and other unprofessional approaches to the profession have reduced and threatened the code of ethics upon which the journalism profession is expected to thrive. It is on this premise that this study sought to investigate violation of ethical journalism among media practitioners in Nigeria: causes, effects and solutions

OBJECTIVE OF THE STUDY
The objectives of the study are;

To ascertain the causes of violations of ethical journalism among media practitioners in Nigeria
To examine the effect of violating the ethical journalism among media practitioners in Nigeria
To ascertain whether ethical challenges and non-professionalism affects journalism practice in Nigeria
To find the possible solution to the causes of violation of ethical journalism among media practitioners in Nigeria
1.4 RESEARCH HYPOTHESES

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H0: there are no causes of violations of ethical journalism among media practitioners in Nigeria

H1: there are causes of violations of ethical journalism among media practitioners in Nigeria

H02: there is no effect of violating the ethical journalism among media practitioners in Nigeria

H2: there is effect of violating the ethical journalism among media practitioners in Nigeria

1.5 SIGNIFICANCE OF THE STUDY

This study will give clear insight on violations of ethical journalism among media practitioners in Nigeria: causes, effects and solutions. The study will be beneficial to practitioners of journalism and the general public. It will also serve as a reference to other researchers that will embark on this topic.

 

 

 

1.6 SCOPE AND LIMITATION OF THE STUDY

The scope of the study covers violation of ethical journalism among media practitioners in Nigeria: causes, effects and solutions. The researcher encounters some constrain which limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.
1.7 DEFINITION OF TERMS 

VIOLATION: The action of violating someone or something.

ETHICAL JOURNALISM: Journalism ethics and standards comprise principles of ethics and of good practice as applicable to the specific challenges faced by journalists.

MEDIA PRACTITIONER: Media relations and public relations practitioners should read as many magazines, journals, newspapers, and blogs as possible, as they relate to one’s practice. Organizations often compile what is known as a media list, or a list of possible media outlets who may be interested in an organization’s information.

Ethics: Set of concepts and principles that guide behaviours and conducts of a particular group of people (i.e. Journalists). They are also seen as motivation based on ideas of right and wrong

Journalism: The process of gathering, processing, and disseminating of information to mass heterogeneous audience through the mass media. It also entails reporting or photographing or editing news stories for the media.

Practice: A way of operation that is customary. It is the exercise of a profession (i.e. Journalism Profession).

Challenges: Demanding situations that hinder the operations of journalists based on their principles of behavior and conduct of operation.

1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding.  Chapter five gives summary, conclusion, and recommendations made of the study



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TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content

CHAPETR ONE

1.0   INTRODUCTION 

1.1        Background of the study

1.2        Statement of problem

1.3        Objective of the study

1.4        Research Hypotheses

1.5        Significance of the study

1.6        Scope and limitation of the study

1.7       Definition of terms

1.8       Organization of the study

CHAPETR TWO

2.0   LITERATURE REVIEW

CHAPETR THREE

3.0        Research methodology

3.1    sources of data collection

3.3        Population of the study

3.4        Sampling and sampling distribution

3.5        Validation of research instrument

3.6        Method of data analysis

 

 

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix

 

 

 

 

 

 

 

ABSTRACT

Nigeria has three major tribes of which Yoruba is one of them. It is important to state that Yoruba as a tribe is also a language spoken by more than thirty million Nigerians. The language cuts across Nigeria to the neighboring countries like Benin republic and Sudan. The Yoruba culture is one of the most celebrated in the country and is welcoming to anyone that cares. The Yoruba culture is being propagated by its indigenes but needs more promotion; more especially for in this technological age. The radio is a medium of communication. It cuts across regions and states. In this project, we examined the role of radio in propagating the Yoruba culture. The study discovered that it is possible for the radio to help promote the Yoruba culture, also, the study highlights the various ways through which the culture can be promoted.

 

 

 

 

 

CHAPTER ONE

INTRODUCTION

1.1       Background to the Study

Culture entails peoples’ way of life. Culture refers to the cumulative deposit of knowledge, experience, belief, values, attitudes meanings, hierarchies, religion, notion of time, roles, concept of the universe, and material objects, possessions acquired by a group of people in the course of generation through individual and groups striving. Culture is the system of knowledge shared by a relative large group of people. Culture is communication and communication is culture, culture according to Aguene (2003) is “all the qualities which group mend together and distinguish them from the rest of the animal kingdom. Lawal, A.T. (2000) quoted Edward Tylor who defines culture “as that complex whole of man’s acquisition of knowledge, beliefs, art, morals, custom and any other capabilities and ability acquired by man as a member of the society” the above definitions shows that culture is what distinguishes human from animals. Also culture gives the identity of a particular group of people, because through a given peoples culture, one can easily point out where his fellow man came from just as pointed out in the word. Culture is the total way of life of a people, culture can also be defined as the identity through which a particular set of people are identified. Irrespective of the high level of civilization or modernization or low level of civilization every society has its totality way of life, that is simply refers to as culture. This pattern or way of life is carried on from one generation to another. It is technically and naturally impacted on to the young one’s through various agent of socialization of which mass media (radio) is one. Radio plays an important role on the Nigeria culture compared to all other media of mass communication. This is because of the incomparable characteristics it possess. Radio is more portable and it can be carried to almost every place such as room, kitchen, toilet, office, market even on the farm land. This era also make radio more portable and relatively cheap has almost all the mobile phones now come with radio features that make cultural programme available to people. Radio also has the widest coverage compared to all other media. It is the most common among the literates and illiterates in the society, as a result of its simplicity in language, and ability to communicate in various languages in society like Nigeria. Radio programmes come in Hausa, Igbo and Yoruba, and all forms of local languages.

Some of the cultural orientated programmes on radio include but not limited to discussion programme, talk show, quiz/debate, personality interview, live coverage of carnival such as Abuja Carnival, Lagos Carnival, Oluyole carnival Ibadan, tourism and traditional festival like Osun Osogbo, Eyo festival in Lagos, Crown Festival in Ojo town Osun state and Ifon Osun, Obalufon Festival in Ido-Osun, Sango festival in Ede, Olojo festival in Ile-Ife, New yam festival. Ikiriji War Camp Site, Obatala festival etc. other aspect given prominence attention is dressing, hair style, greeting, music, arts and dying, foods and drinks etc. It is against this backdrop that the research examines the role of radio in propagating Yoruba culture.

1.2   Statement of the problem

Yorùbá is a tonal language spoken natively by about thirty million people in Nigeria and in the neighboring countries of the Republic of Benin and Togo. In Nigeria, Yorùbá speakers reside in the Southwest region in states such as Oyo, Ogun, Osun, Ondo, Ekiti, Lagos, Kogi and Kwara states. Yorùbá is a Kwa language, which belongs to the Yoruboid group under the Niger-Congo phylum. It has three basic but significant tones. One of the effects of the large number of Yorùbá speakers and their geographic spread is the emergence of geography-bound linguistic variations. Yorùbá is a dialect continuum including several distinct dialects (Bamgbose (1966)). Estimates of the total number of Yorùbá dialects vary from twelve to twenty-six (Ojo (1977), Adetugbo (1982), Oyelaran (1970, 1992), Mustapha (1987), Ojo    (2001).
The differences inherent in these dialects are marked in the areas of pronunciation, grammatical structure and vocabulary. There are other dialects found all over West Africa. In the Republic of Benin, Yorùbá dialects include Ketu, Nago, Ije, Ajase, Idaitsa, Tsabe; while Ana and Itsa are two of the dialects found in Togo. Some Yorùbá dialects are also found in the African Diaspora, especially the Caribbean. The dialect of Yorùbá used in Brazil is called Nago, while the one used in Cuba is referred to as Lucumi. It is however possible to classify Yorùbá dialectal forms, found in Nigeria, into five regional groupings: North-West Yorùbá (NWY); North Eastern Yorùbá (NEY); Central Yorùbá (CY); South-West Yorùbá (SWY); South-East Yorùbá (SEY). The Yoruba culture in this technological age needs to be upheld by its indigenes and neighbors. The radio is seen as a technological medium of disseminating information. The radio can reach a large number of people who ordinary cannot at the same time. Thus the radio can help to propagate the Yoruba culture. It is against this premise that this study is undertaken to examine the role of radio in propagating the culture of Yoruba.

1.3   Objectives of the Study

The following objectives forms the focus of this study:

Is radio one of the right medium for propagating the Yoruba culture?
How can the radio propagate the Yoruba culture?
How can organizations maximize the role of radio in promoting the Yoruba culture?
1.4   Research Hypotheses

H0: The Radio is not the right medium for propagating the Yoruba culture.

H0: There are no ways on how the radio can promote the culture of the Yoruba.

H0: Organization cannot maximize the role of radio in promoting the Yoruba culture.

1.5   Significance of the study

The study will help create awareness on the culture of Yoruba to both the indigenes and non-indigenes of the Yoruba tribe. Furthermore, the study will serve as a reference tool for further research. The study is finally a contribution to academic work.

1.6   Scope and Limitation of study

The study covers the role of radio in promoting the Yoruba culture. It highlights the possibility of propagating the culture and the various ways through which it can be done. The study is limited to the Yoruba tribe and does not include other tribes. Furthermore, the study largely highlights the radio as a major means of propagating the Yoruba culture and not other forms of medium of information.

1.7   Definition of Terms

Radio: the transmission and reception of electromagnetic waves of radio frequency, especially those carrying sound messages. It is the activity or industry of broadcasting sound programmes to the public.

Propagating: to cause to spread out and affect a greater number or greater area: extend, to foster growing knowledge of, familiarity with, or acceptance of (something, such as an idea or belief)

Culture: the arts and other manifestations of human intellectual achievement regarded collectively.

1.8       Organization of the study

The study is divided into five chapters. Chapter one deals with the study’s introduction and gives a background to the study. Chapter two reviews related and relevant literature. The chapter three gives the research methodology while the chapter four gives the study’s analysis and interpretation of data. The study concludes with chapter five which deals on the summary, conclusion and recommendation.



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Abstract

Accountants have been bestowed with the role of providing information to the management regarding the affairs of the organization in particular and to the stakeholders in general. Internally, in manufacturing organization, management has always relied on the management accountant for cost evaluation and performance efficiencies of cost element. This role of management accountant to the management has been in doubt because of incessant increase in the cost elements of goods manufactured in Nigeria which in cause has resulted in constant increase in the price of goods. The aim of this research study is to evaluate the role of management accountant to cost control and profit performance in an organization. Two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staff of Nigeria breweries was selected randomly. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study





CHAPTER ONE

INTRODUCTION

Background of the study
Prices of goods and services are gradually increasing day by day, and due

to the fact that the sole aim of a businessman, producer or manufacturer is to make profit they end up making use of low quality materials for production so as to reduce cost of production and maximize profit. Moreover, with the increase of competitors around, most of the producers have thought it wise to manufacture or package a quality product and also enhance their profit level. This elevated the interest of the researcher to bring to light of how this goal can be achieved through intensive study of the role of management accountants to cost control and profit performance in an organization. Apart from cooperate scandals; there has been anosmatic pressure for better profit maximization as the business environment became more volatile, prices of products increasing at an alarming rate, and the production of low quality products. In the past management accountants operation is strictly on workers capacity usually separated from the managers for whom they provided reports and information. But in this present period, management accountant now serve as internal business consultants. Working together in cross functional teams with managers from all sectors of the organization. However, the management faces a broad array of decisions including production, marketing, financial and other relevant decisions. Also having in mind that decision making is a fundamental part of management; the management accountant must be equipped with some knowledge of accounts and management. He must have an understanding and knowledge of the environment and the operations of the organization in which those systems are implemented and appropriate technology to apply in each case for the provision of management information. It is obvious that the management of a manufacturing firm will need information that will enable them consider the factors affecting cost of production, cost reduction, product pricing and investment etc, so as to choose the best alternative. Management accountants are assigned with managing cost elements of products among other responsibilities. He aligns cost with efficiency; provide required information for cost minimization so that profit could be maximized. These assignments should reduce product pricing, but instead there have been a consistent product price racketing. These problems therefore brought the need for this research work which intends to find the reason for this persistent increase in product pricing where the services of management accountants were engaged and therefore putting up the following questions:



Do management accountants perform in their responsibility?



Is cost performance inefficiencies of management accountants included in the product pricing?



Is the recent in price caused by other factors rather than elements of cost of production managed by management accountants?



How would the role of management accountant in an organization improve profit performance?



STATEMENT OF THE PROBLEM
In recent years, the cost of products manufactured in Nigeria has been very expensive beyond the reach of common Nigerians. This cost challenges has made many products manufactured in the country patronized by the consumers, and as a result of that expires in the hands of the sellers. There is also a problem of poor inventory management which leads to overstocking thereby tying down the company’s working some or most of the manufacturing firm is the installation of improper plan to reduce cost of production so as to maximize profit,

1.3 OBJECTIVE OF THE STUDY

The main objective of this study is the role of management accountant to cost control and profit performance in an organization. But for the successful completion of the study; the researcher intends to achieve the following sub-objectives;

To determine the relevance of management accountant in organization cost control
To ascertain the role of management accountant in cost control effectiveness
To ascertain the impact of efficient cost management and control in the profitability of the firm
To ascertain the relationship between cost control and profitability of the organization.
RESEARCH HYPOTHESES
For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H0: management accountant is not relevant in organization cost control

H1: management accountant is relevant in organization cost control

H02: management accountant does not play any role in cost control effectiveness.

H2: management accountant does play any role in cost control effectiveness

SIGNIFICANCE OF THE STUDY
The management accountant makes the necessary information available to the management by the application of his skill and knowledge. The significance of this study is to bring to the notice of the management the exemplary role of the management accountant and the technique he uses to provide information and also how these would affect the operations and the attainment of the organizational goal if these information provided are not recommended for use by the management. And with such knowledge and information put to use, management would be able to plan and control the organization such that the cost of operating the business will be at a minimum while profit will be maximized. The study will also be of great benefit to the researchers who intends to embark on research on similar topics as it will serve as a guide. Finally, the study will be of great importance to academia’s, lecturers, teachers, students and the general public.

SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers the role of management accountant to cost control and profit performance in an organization. The researcher encounters some constrain which limited the scope of the study;

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.


DEFINITION OF TERMS
Accountant: An accountant is a practitioner of accountancy or accounting ( referred as an accounting in the united states), which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.

Management Accountant: Are those key officers that provide business data and analysis to managers within organizations to assist in decision making and control.



Profit maximization: A process that companies undergo to determine the best output and price levels in order to maximize its return. The company will usually adjust influential factors such as production costs, price of goods and output level as a way of reaching its profit goal.

Performance; General accomplishment of a given task measured against present standards of accuracy, completeness, cost and speed

Management: This is defined as the process of dealing with or controlling things or people. It is the responsibility for control of a company or similar organization.



1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.


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ABSTRACT

The accountants the business and the economy are inseparable. They are mostly needed in resolving various conflicting investment decision, initiating and co-ordinating meaning of economic development and growth. In Nigeria, this function has largely been restricted to the reporting role, book-keeping accounting and auditing.This research project is thus a search part for what the role of the accountant, has been and what it should be in enhancing economic development in the area of company formation and profitable business acquisition. Moreover in this period of high business mortality rate, what the role of the accountant in corporate rescuer should be.Chapter one of the study lays a theoretical framework for subsequent chapters. Following the general introduction, the problem statement and the objective of the study which provided basis for the significance of the study and the hypothesis were stated. The limitation of this study were also highlighted.In the literature review as contained in chapter two, works of various authors, international and local journals were reviewed to elicit views on the roles and relevance of the account in business and economic development.Chapter three, research methodology, description of population and sampling procedure for data collection were discussed. Methods of questionnaire design, determination of sampling sige and questionnaire distribution were also highlighted.Chapter four was based on analysis of data collected. This? Chapter was sub-divided into data analysis, hypothesis testing and summary. Percentage table, figure and narration were carefully employed for proper understanding and testing of hypothesis.Finally, chapter five was divided into summary of findings, recommendation and conclusion. Recommendation for resolving various conflicting issues bordering on the accountant and his role problems were drawn based on findings which were discussed.

PROPOSAL

A proposal on the role of the public accountant in the formation, acquisition and liquidation of companies.The accountants, the business and the economy are inseparable. They are mostly needed in resolving various conflicting investment decision, initiating and co-ordinating meaning of economic development and growth. In Nigeria, this function has largely been restricted to the reporting role book-keeping accounting and auditing.

This research project is thus a search part for what the role of the accountant has been and what it should be in enhancing economic development in the area of company formation and profitable business acquisition. Moreover in this period of high business mortability rate, what the role of the accountant in corporate recue should be.Chapter one of the study will lays a theoretical framework for subsequent chapters. Following the general introduction the statement and the objective of the study will provides basis for the significance of the study and the hypothesis will be stated. The limitation of the study will also highlight.Literature review will contain in chapter two, works of various authors, international and local journals will also review to elicit views on the roles and relevance of the account in business and economic development.Chapter three, research methodology, description of population and sampling procedure for data collection will be discuss. Methods of questionnaire design, determination of sample size and questionnaire will also highlight. Chapter four will base on analysis of data collected. This chapter will be divided into data analysis, hypothesis testing and summary. Percentage table, figures and narration will carefully employ for proper understanding and testing of hypothesis.Finally, chapter five will be divided into summary of findings, recommendation and conclusion. Recommendation for resolving various conflicting issues bordering on the accountant and his role.

CHAPTER

1.1 INTRODUCTION

The public accountant is an independent practitioner who works on a gee basis for business management or for individuals wishing to use his services or as member of an accounting firm. Most public accountants are also external authors.The commonly known services offered by the public accountant include the following:

Those that are substantially of auditing nature
Those who involve primarily accounting
Those pertaining to taxes.
Most people perceive the roles of the public accountant as being limited to the traditional one balance sheet in the process of auditing the financial statements of companies.

The have failed to realize and appreciate that the public accountants provides services in respect of problems relating to conceptualization of business ideas, formation, registration and development of business most importantly on how to do with the collection and presentation of accounting data. They also undertake routine book-keeping for enterprises without adequate book-keeping personnel.

Very often, the accountant is consulted with respect to income tax implication of proactive transactions. In his contribution, Okugi said consultant of his client, the task will be more cost effective and efficient. Hence, he will be able to make comprehensive report to avoid as much tax as possible and avoid unnecessary duplication.

C.A. Okafor2 see the designing of accounting systems for clients as one of the frequently ignored aspects of public accounts in Nigeria.

The public accountant helps in the planning stage of company preparing feasibility studies, writing the expected financial flow-making realistic projections and determining the cost implication of intended projects. He also co-ordinates and uses the input from other professionals to compute, analyze and expose the financial implications of the entire line of action.

Nnam3 added that the accountancy firms perform appraisal of investor to determine their viability and profitability and to check the stability of expected cash flow.

The public accountant draft the Articles of Association, memorandum of Association and formulate the internal policy of the firms. These documents are then filed with the Register of companies. He can also help in the preparation of budget, business plan and installs control systems and procedmes that generate necessary data from which information needed by business if processed. In same circumstances, a new or existing company may rely on the public accountant for recruitment of some specialized manpower or he can send his staff on recommendation to a new business for specified period during which the firm is expected to stand on its own4

He also has important roles to play in the diversification and enhancing of the company’s profitability and stability of income. This is done through regular, advisory service on the best way to utilize ideal funds. He should be able to advise on the more profitable lines in the production process, the services which generate more value added, which services, products or departments should, which services, products or departments should be initiated and which should be discontinued. The accountant gathers and analyzes quantitative information and gives opinion as to which alternative makes economic sense5.

The public accountant can also act, as an insolvency practitioner by examining the company to the whether immediate liquidation is needed or whether the company still stands a chance to succeed.

He can act as a receiver by taking possession of the assets as charged to debenture holders and realizing them and which he withdraws from the company.

He can also act as liquidation by selling and collecting (in case of debts) the assets of the company and pays the proceeds to the entitled.

1.2 THE NATURE OF ACQUISITION, MERGER AND LIQUIDATION

Acquisition refers to all form of merger, amalgamation and take-over bids. It is the process of becoming a holding company or subsidiary involving significant cash out flow from the acquiring company to the acquired company’s shareholders as consideration for acquired interest.

Mergers, also called pooling of interests, describe an acquisition through the exchange of equity shares. Specifically, the parent company issues its own share certificate in exchange of equity shares certificate of the subsidiary. There is no purchase/ sale transaction between the affiliates, so the long term investment by the parent company is carried at the book value of the shares issued as consideration.

Amalgamation is the merger of two or more companies or undertakings of the interest in business or undertakings. The merger could be temporary and involve only certain aspects of a business operation (eg the pooling of orders or sales or formalized co-operation in production or procurement of inputs) this is referred to as partial merger.

It can also be a complete amalgamation and usually involves the absorption of one or two companies by an existing company by new company specially formed for that purpose.

In its narrowest sense, it is the formation of entirely new company to acquire existing separate concern. This necessitate the winding up of the existing companies. In its wider sense, it could be used to mean absorption whereby there is new company formation and is a two company situation, there will be only one liquidation.7

Liquidation can be described as a situation whereby authorization is given to sell business of the old company to a new company and in consideration to accept, shares in the new company for the agreed asset value. The only asset in the hands of the liquidator is now these new shares and he distributes them to the old shareholders. The end result is the shareholders now hold share in the new company at the agreed reduced valuation and the new company owns the business.

The principal advantage from the point of view of the shareholders is that dissenting shareholders have the right to acquire the liquidator either to abstain from carrying the resolution of effect or to purchase their shares at an agreed price.

1.3 REASONS FOR ACQUISITION, MERGER AND LIQUIDATION

Expansion is a major objectives of most organizations. Usually a large and profitable company with adequate records invests on other companies.

The investment can be short term or long term; it can be an investment in debt securities or in the share capital of the other company. When a company invests in the shares (ordinary or preference) of another company, the reason may be just to employ idle case and earn some additional revenue or it could be to enhance growth through the production and sale of new products and services.

Additional reasons may be to gain access to new markets and supply sources or to exercise influence and control over the company whose shares are acquired. When the desire is to effect control a company invests in the ordinary shares of the other company.

Companies who could not stand the presume of the government economic policy collapsed due to structural Adjustment programme (SAP) introduced in 1986 which was directed towards encouraging Nigerian companies to source their raw materials locally and the self-sustaining. To provide themselves with a strong common front against the industrial constraints, many other average companies came together to form a merger. And yet the big one emerged to acquire the weak companies. For instance, seven-up Bottling company acquired’ schwapps’, lever Brothers Limited also merged with liptons Nigeria limited.



In Nigeria today, the number or record of company, failures mergers and acquisition is intriguing and the trends from all indications are expected to continue as more and more companies continue to absorb the stringent impact of ASP. And only those companies with the correct and adequate mix of resources can survive.

1.4 STATEMENT OF PROBLEMS

Peter Langard stated that the most proprietors of small businesses look upon the statutory audit as an imposition and do not feel that there is any value to the business firm from it.

Thinking makes it imperative on the accountants to emphasis the non-audit roles in order to retain the prestige, improve their income, ensure the satisfaction of their clients and enhance national economic development.

Thus, most people including potential investors and entrepreneurs do not understand the expert services the professional accounting firm can provide them.

The above problem, that is the lack of understanding of the accountants other capabilities has called for some questions, answers to which will give an insight into the non-auditing roles of accounting firms, especially at the formation and infancy staged of business. The quest are:

(i) What are the usual problems proprietors encounter prior to, at the formation and at the initial stage of their business?

(ii) Which of the accountants usual function are specifically relevant to the needs of new firms?

(iii) Can public accountants assist in the planning, registration and management of young firm? To what extent can the accountant’s involvement help the firms to achieve growth and profitability?

(iv) Is it feasible and advisable for public accounting firms to initiate enlightenment programme through organization of lectures, symposia, seminars and so on with an aim of encouraging potential entrepreneurs to set, up business?

1.5 PURPOSE OF STUDY

The purpose of this study is to bring to the notice of the public particularly potential investors and entrepreneurs, the services the professional accountants can provide them.

It is at exposing to them the problems firms will undergo at infancy and highlighting those areas where the public accountants will readily provide succour.

Besides, it seeks to bring to the notice of the chartered accountants, the pressing needs of today’s small firms in the Nigerian context with a view to making them respond swiftly and decisively to such needs.

In summary, the purpose of this study is to answer the questions raised at the problem statement which this writer believes will be of mutual benefit to the public as well as the accountant.

1.6 SIGNIFICANCE OF STUDY

The main beneficiaries of this study are public, the accounting firms, professional accounting bodies and government.

PUBLIC:This study will enable the public appreciate the duties of the accountants and their capabilities. In particular it will be useful to budding entrepreneurs who may find in the accounting firms, a useful instrument for realizing their dreams of owing their business and making profit through
ACCOUNTANT FIRMS: Though this work, the accounting firms may understand more clearly the problems firms and individuals encounter which they are in position to solve.
Subsequently, it will enable them to broaden their services, acquire new clients and provide other related services to their audit clients. This undoubtedly will help improve their image and ultimately their income.

PROFESSIONAL ACCOUNTING BODIES:The outcome of the study may aid the understanding of the new challenges facing accountancy professional in their peculiar environment.
Consequently, this will guide professional accountancy bodies life institute of chartered Accountants of Nigeria, (ICAN) in determining and designing the type of training and exposure that, will be given to its existing and intending members in order to equip them adequately to tackle such problems. Thus, it may find the need to introduce courses and organize lectures with a view to making qualified accountants acquire new skills relevant to the needs of clients and the economy.

GOVERNMENT: The active participation of accountancy firms in the formation and development of new firms will help in the realization of governments objectives of encouraging small and medium scale industries. This study may show necessity of government to review certain laws that hinder the accountants from performing their roles in ensuring survival and growth of such firms and make new laws where necessary. Besides, government will benefit from the survival of such companies as it will derive income through taxes and job opportunities will be created.
1.7 HYPOTHESIS

The hypotheses developed for this study are:

(1) That the most compelling constraint to company formation survival and growth in Nigeria is lack of adequate business information and expertise and not, capital shortage.

(2) That Nigerian investors have failed to understand fully the roles and relevance of the accountant to the survival and growth of their businesses.

(3) The Nigerian public Accountants have consistently emphasized their traditional roles of Book-keeping Accountancy and Auditing and neglected their non-audit functions.

1.9 DEFINITION OF TERMS

(a) FORMATION: Implies bringing into being or “bringing into existence.

(b) COMPANIES: Denotes to partnership firms, sole proprietorship, public or private companies, or all forms of business operated.

(c) PUBLIC ACCOUNTANT: Those accountants whose services are rendered to the general public on fee basis.

(d) ACQUISITION: Here refers to all forms of merger, amalgamation, and take-over bids. It is the subsidiary involving significant outflow of cash from the acquiring company.

(e) LIQUIDATION: Act of bringing an existing company that could not continue in business to a close.

(f) ACCOUNTANCY FIRMS: This means business organization consisting primarily of professional accountants registered with ICAN and are qualified to be external auditors to other firms.

(g) CHARTERED ACCOUNTANTS: Refers to follows and Associate members of institute of chartered Accountants of Nigeria and other bodies of accountant recognized in Nigeria which qualifies one to be external auditor of a company.


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ABSTRACT



This study was to examine theinfluences of doctrinal differences among churches in Nigeria, which often hampered unity among the competing denominations in the 21st century. The findings of this study showed that there is lack of national unity among the churches in Nigeria. Factors that conditioned the doctrinal controversy included sacraments, sola scriptura, sola fide, sola gracia, indulgence, perpetual virginity of Mary, purgatory, infallibility of the Pope, women ordination, infant baptism, homosexuality among others. The work recommended that oneness of Christians in Nigeria should be Christocentric, unity in diversity, and sola scriptura. Methods of approach are historical, comparative and descriptive methods.

This study used a mixed method approach combining focus group discussions, in-depth interviews and congregant’s survey. The findings of the study revealed that conflict was understood differently in church, understanding conflict as violence and conflict as misunderstandings. Major causes of church conflicts are doctrinal differences, social and political in nature.



TABLE OF CONTENTS

CHAPTER ONE

Introduction

1.1 Background of the Study

1.2 Statement of the Problem

1.3 Objectives of the Study

1.4 Research questions

1.5 Research hypotheses

1.6 Significance of the Study

1.7 Scope and limitation of the Study

1.8 Definitions of terms

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

2.2 The Concept of Pentecostalism

2.2.1 Antecedence of Modern Pentecostalism

2.3 Historical Overview of the Nigerian Christendom

2.4 Expansion of the Pentecostalism

2.5 Pentecostalism in Nigeria

2.6 Typologies of Pentecostalism in Nigeria

2.6.1 African Initiated Form of Christianity- Sola Churches

2.6.2 African Initiated Form of Christianity- Scriptura Churches

2.6.3 African Initiated Form of Christianity- Et Churches

2.6.4 African Initiated Form of Christianity- Traditions Churches

2.7 The Relationship Between Pentecostal And Charismatic

2.8 Theoretical Framework

CHAPTER THREE

3.0 Research Methodology

3.1 Research Design

3.2 Study Area

3.3 Sampling Design and Procedures

3.4 Data Collection Instrument

3.5 Administration of the Data Collection Instrument

3.6 Data Presentation

3.7 Statistical Tools for Data Analyses

CHAPTER FOUR

4.0 Data Analysis and Interpretation

4.1 Introduction

4.2 Data Analysis

4.3 Research Questions and Testing Of hypotheses

CHAPTER FIVE

Findings, Summary and Recommendation

5.1 Findings

5.2 Summary

5.3 Recommendation

References



CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY
Doctrinal differences led to Pentecostalism which is now one of the fastest growing Christianity movements within Nigeria and the world at large. Today, one will not go through the history of the Early Church without getting involved with this subject, and be struck by the observation that he/she is dealing with an age of innumerable controversies arising from churches with different doctrines. Pentecostalism in Nigeria was inspired by new Religious Movements in Nigeria caused by doctrinal differences, which share some common features with them. Gaiya (2002:para.4) buttresses this view that “during an influenza epidemic in 1918, revivals flared within Mission Churches and the Aladura Churches expanded”. For example, the Cherubim and Seraphim Society was founded in 1925 as well as the Church of the Lord(Aladura) in 1930 respectively. The Anglican form of prayer known as the Precious Stone Society came up to heal the influenza victims in 1918.The group left AnglicanChurch in the early 1920s and was affiliated with Faith Tabernacle Church based in Philadelphia. Also Joseph Babalola of Faith Tabernacle led a revival that converted thousands of people. The movement initiated ties with the Pentecostal Apostolic Church in Great Britain in 1932, but the ties were dissolved over the use of modern medicine. Pew Forum on Religion (2011: para.1) reports that the Celestial Church of Christ also came into western Nigeria from Benin and rapidly grew and expanded across the northern region. Later it became one of the largest Aladura Churches in Africa. Pa Josiah Akindayome, one of their members later established the Redeemed Christian Church of God. The Redeemed Christian Church of God “became increasingly Pentecostal in theology, practice and growth” Pew Forum on Religion (2011: para.2). It has become very large and their churches cut across the globe including United States. Another form of revival emerged between 1930 and 1960 which included both Charismatic and Pentecostal movements. Kalu (2008:34) maintains that this wave of revival includes “the Charismatic Youth Movement among the youth ofvarious denominations that occurred in different parts of the country; challenging the parent group which allegedly suffered from power failure”. The group aimed at re- evangelizing the mainline churches and converting new souls for God. The Pew Forum on Religion (2011: para.2) confirms that the 1930 and 1960 revival aided the evangelical revival of the 1970s.This was a wave of Pentecostal expansion that started operating as fellowship but was later transformed into the establishment of new Churches. One of the leaders of such Churches was Benson Idahosa, who established the Church of God Mission International in 1978.

According to Francis Wernick, division and disunity have marked the history of the Christian Church from at least the end of the first century. While not immune from this danger of dissent, Seventh-day Adventists have been relatively free of serious discord, having a remarkable unity on Bible truth. But danger is always present as the enemy of the church seeks in every way possible to bring in variance and disagreement. Controversial issues have the potential of dividing the church. It is in view of this that the researcher intends to investigate the impact of doctrinal difference on in Nigerian churches.

STATEMENT OF THE PROBLEM
The continuous question of why are there so many Christian denominations in Nigeriahas led to the argument that will be addressed in the course of this study. Looking at scholar’s response to the above question, we must first differentiate between denominations within the body of Christ and non-Christian cults and false religions. Denominations are based on disagreements over the interpretation of Scripture. An example would be the meaning and purpose of baptism. Diversity is a good thing, but disunity is not. If two churches disagree doctrinally, debate and dialogue over the Word may be called for. This type of “iron sharpening iron” (Proverbs 27:17) is beneficial to all. If they disagree on style and form, however, it is fine for them to remain separate. This separation, though, does not lift the responsibility Christians have to love one another (1 John 4:11-12) and ultimately be united as one in Christ (John 17:21-22).Unlike other religions with just one or few denominations, the Christian religion posted so many challenges ranging from doctrinal differences. Which led the researcher to look into this problems.

PURPOSE OF THE STUDY
The main purpose for this research work is to examine the impact of doctrinal difference on the church.

OBJECTIVE OF THE STUDY
the researcher intend to achieve the following objectives;

To ascertain the effect of doctrinal difference on the church
To examine the relationship between the early church and today’s church
To find out the issues between Pentecostal churches and orthodox churches in Nigeria.
To examine the role that doctrine plays in solving religious fanatics issues in Nigeria
To proffer possible solutions to the challenges associated with doctrinal differences in Nigeria.
1.5 SCOPE OF THE STUDY

This study will cover the role of the church and Christianity in general as regards to the issue of doctrinal differences, societal peace and harmony.

1.6 SIGNIFICANCE OF THE STUDY

The following are the significance of this study:

The findings of this study will be useful for the government, church leaders and the general public on the role of the church in ensuring sustainable peace and harmony among churches.
This research will also serve as a resource base to other scholars and researchers interested in carrying out further research in this field subsequently, if applied will go to an extent to provide new explanation to the topic.
1.7 LIMITATION OF THE STUDY

In the cause of the study, there were some constraint which limited the scope of the study;

Financial constraint– Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

1.8 RESEARCH QUESTIONS

Why are there so many Christian denominationsin Nigeria?
What is the doctrinal difference between the orthodox and Pentecostal churches?
What is the impact of indoctrination in curtailing religious misconception among Nigerian churches?
1.9DEFINITION OF TERMS

Doctrine:Doctrine (from Latin: doctrina) is a codification of beliefs or a body of teachings or instructions, taught principles or positions, as the essence of teachings in a given branch of knowledge or belief system. The Greek analogue is the etymology of catechism.

Differences:the quality or state of being dissimilar or different, like the different between right and wrong or black or white.

Doctrinal differences:this is defined in this context as the different views, belief and mode of operation of various churches that varies with that of others.

Church:A church building, often simply called a church, is a building used for Christian religious activities, particularly for worship services. The term in its architectural sense is most often used by Christians to refer to their religious buildings, but it is sometimes used (by analogy) to refer to buildings of other religions.

Pentecostal:Pentecostalism or Classical Pentecostalism is a renewal movement within ProtestantChristianity that places special emphasis on a direct personal experience of God through the baptism with the Holy Spirit.


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A DISCOURSE ANALYSIS OF JESUS’ CONVERSATION WITH THE SAMARITAN WOMAN
SPROJECT NG
ABSTRACT It is a known fact that Discourse Analysis is the analysis of language in use. This work showed how discourse analysis and pragmatic elements…

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THE THREATS TO SUSTAINABLE PEACE IN NIGERIA; THE ROLE OF THE CHURCH
SPROJECT NG
ABSTRACT Crises and conflict poses a major challenge in every human society and often it is inevitable. In a developing country like Nigeria, crises and…

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THE ROLE OF CHURCH LEADERS IN CHURCH GROWTH USING THE RCCG LP20 LAGOS STATE AS CASE STUDY
SPROJECT NG
Abstract The various leadership styles emanating from the ever increasing number of churches and their consequences on the growth of the gospel calls for concern….

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THE IMPACT OF DOCTRINAL DIFFERENCE ON THE CHURCH
SPROJECT NG
ABSTRACT This study was to examine theinfluences of doctrinal differences among churches in Nigeria, which often hampered unity among the competing denominations in the…

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THE EFFECT OF LEADERSHIP ROLE ON CHURCH GROWTH
SPROJECT NG
Abstract The various leadership styles emanating from the ever increasing number of churches and their consequences on the growth of the gospel calls for concern….

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THE EFFECT OF DENOMINATIONAL PRACTICES ON THE GROWTH OF THE CHURCH
SPROJECT NG
Abstract The study on the effect of denominational practices on the growth of the churches tries to find out if denominational practices have significant effect…

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THE CHRISTIAN LIFE IN THE SOCIETY: A CASE STUDY OF THE EARLY BELIEVERS
SPROJECT NG
ABSTRACT This study provides a primer on the basics of Christian life in the society as it relates to the early believers. The history…

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THE BIBLICAL EXAMINATION OF FACTORS RESPONSIBLE FOR DIVISIONS IN THE CHURCHES
SPROJECT NG JANUARY 26, 2019
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MARKETING OF CHURCH SERVICES IN A CONTEMPORARY
SPROJECT NG
Abstract Worldwide, church membership is decreasing. A decline in the number of young adults that attend church services is also evident. The purpose of the…

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INFLUENCE OF RELIGIOUS BELIEF ON POLITICAL PARTICIPATION IN SOUTH WEST
SPROJECT NG
TABLE OF CONTENT Title page Approval page Dedication Acknowledgment Abstract Table of content CHAPETR ONE INTRODUCTION 1.1 Background of the study 1.2 Statement of problem 1.3 Objective of…

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Abstract

The study set out to examine the ever increasing problem of the rate of pollution in major cities in Nigeria with emphasis in Edo state. In doing so, the study has on the basis of personal observation and secondary sources examined the effects of environmental pollution in Nigeria. The findings show that environmental problems in Nigeria generally are many, diverse in nature, and are caused by man’s interaction with nature (environment) for exploits in a number of ways-both in the cities; where industrial activities predominate, and rural areas; where agriculture thrives. The study posits that man utilizes air for survival, harnesses land and water resources for domestic, commercial, industrial, agricultural and other purposes. Through these activities; man directly and/or indirectly create problems which are detrimental to his health/survival, wellbeing, natural existence and stability.









CHAPTER ONE

INTRODUCTION

Background of the study
It is observed of recent that the role the environment play to a nation’s development process cannot be over emphasize. Apart from being the physical surrounding for natural habitats, the environment provide the basis for human exploits for agricultural, industrial, commercial, technological and tourism development of a society. For this and several other reasons, environmental issues now occupy a center stage in academic discourse and other public fora both at the national and international levels. Recorded evidence has also shown that the environment represents a wide range of the external circumstances, conditions and the things that affect the existence and development of an individual, organism, group (Isaichei 1999) and/or society. In Nigeria for instance, environmental issues did not gain official prominence until the 1988 Koko toxic waste dumping saga which also brought to the fore the exigent need to establish the Nigeria Federal Environmental Protection Agency (FEPA), Federal Ministry of Environment and other relevant agencies, ostensibly to tackle environmentally related issues, in the country. These include issues such as environmental pollution, sanitation, depletion of ozone layer, desertification, flooding, erosion, poverty, bush burning, deforestation, soil conservation etc. All these mentioned above are a pointer to the fact that issues of environment and in fact environmental pollution which forms the basis of this study has taken a center stage in the nation’s (Nigeria’s) development process. Environmentally minded scholars: Ocheri (2003:174), Gbehe (2004), and Aja (2005:114) have associated environmental pollution with human activities and albeit persistent human interaction with the environment. Research has also shown that as the population of a country grows/increases with attendant pressure on the environment especially in the wake of improved technologies, environmental abuse and pollution is nevertheless heightened with corresponding effects on lives of people and other living organisms, (Ocheri, 2003: 175 and Hausers, 1971). It has been observed further that man through industrial, agricultural and the ever increasing urbanization process, security and terrorist activities tend to directly and/or indirectly pollute the environment. Jande (2005) and Aja (2005:114) in their separate observations, also in tandem with the foregoing agree that unrestricted use of pesticides, insecticides, herbicides and indiscriminate dumping of refuse, excreta and animal dung as well as spillages from refineries, large scale bush burning etc are perceived as some of the leading factors of environmental pollution in Nigeria.

Environmental Pollution is any discharge of material or energy into water, land, or air that causes or may cause acute (short-term) or chronic (long-term) detriment to the Earth’s ecological balance or that lowers the quality of life. Pollutants may cause primary damage, with direct identifiable impact on the environment, or secondary damage in the form of minor perturbations in the delicate balance of the biological food web that are detectable only over long time periods. The industrialization of our society, the introduction of motorized vehicles, and the explosion of the human population, have caused an exponential growth in the production of goods and services. Coupled with this growth has been a tremendous increase in waste byproducts. The indiscriminate discharge of untreated industrial and domestic wastes into waterways, the spewing of thousands of tons of particulates and airborne gases into the atmosphere, the “throwaway” attitude toward solid wastes, and the use of newly developed chemicals without considering potential consequences have resulted in a lot of environmental disasters throughout the world. Environmental pollution usually occurs as a result of energy conversions and the use of resources which leaves their by-products behind in water, soil or air. Technology has begun to solve some pollution problems, and public awareness of the extent of pollution will eventually make government bodies to be more proactive rather than reactive and also undertake more effective environmental planning and adopt more effective antipollution measures.

STATEMENT OF THE PROBLEM
The industrialization of our society, the introduction of motorized vehicles, and the explosion of the human population, have caused an exponential growth in the production of goods and services. Coupled with this growth has been a tremendous increase in waste byproducts. The indiscriminate discharge of untreated industrial and domestic wastes into waterways, the spewing of thousands of tons of particulates and airborne gases into the atmosphere, the “throwaway” attitude toward solid wastes, and the use of newly developed chemicals without considering potential consequences have resulted in a lot of environmental disasters throughout the world. It is in view of this that the researcher intends to holistically investigate the effect of the ever increasing problem of the rate of pollution in major cities in Nigeria.

OBJECTIVE OF THE STUDY
The main objective of this study is to ascertain the rate of pollution in major cities in Nigeria with emphasis on Edo state. But for the completion of the study, the researcher intend to achieve the following sub-objective;

to ascertain the effect of air pollution on the wellbeing of the populace
to evaluate the effect of waste management on the health of the populace
to investigate the effect of oil spillage on the economic development of the state
to investigate the effect of solid waste management on the environment
RESEARCH QUESTION
For the successful completion of the study, the following research questions were formulated

Is there any effect of air pollution on the wellbeing of the populace
What is the effect of waste management on the health of the populace?
What is the effect of oil spillage on the economic development of the state?
Is there any effect of solid waste management in the development of the state
SIGNIFICANCE OF THE STUDY
At the completion of the study, the findings shall be of great importance to the federal environmental protection agency as the study seek to proffer avenues for effective environmental management and pollution control in the state and country as a whole. The study will also be of importance to waste management board as the study seek to proffer solution to effective waste management and control of environmental pollution. It shall investigate the effect of solid waste on the environment The study shall analyze strategies for effective waste management practice. It shall provide a reference source of information for environmental experts.

The study will also be of importance to researchers who intend to embark on study in similar topic as the study will serve as a reference point to the researcher.

SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers the ever increasing problem of the rate of pollution in major Nigerian cities, with emphasis on Edo state. But in the cause of the study, there are some constraint which limited the scope of the study;

(a) Availability of research material: The research material available to the researcher is insufficient, thereby limiting the study.

(b) Time: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.

(c) Finance: The finance available for the research work does not allow for wider coverage as resources are very limited as the researcher has other academic bills to cover

1.7 DEFINITION OF TERMS

Pollution

Pollution is the introduction of contaminants into the natural environment that cause adverse change. Pollution can take the form of chemical substances or energy, such as noise, heat or light. Pollutants, the components of pollution, can be either foreign substances/energies or naturally occurring contaminants. Pollution is often classed as point source or nonpoint source pollution.

Air pollution

Air pollution is a mixture of solid particles and gases in the air. Car emissions, chemicals from factories, dust, pollen and mold spores may be suspended as particles. Ozone, a gas, is a major part of air pollution in cities. When ozone forms air pollution, it’s also called smog. Some air pollutants are poisonous.

Health

Health is the level of functional and metabolic efficiency of a living organism. In humans it is the ability of individuals or communities to adapt and self-manage when facing physical, mental or social changes. The World Health Organization (WHO) defined health in its broader sense in its 1948 constitution as “a state of complete physical, mental, and social well-being and not merely the absence of disease or infirmity.” This definition has been subject to controversy, in particular as lacking operational value, the ambiguity in developing cohesive health strategies, and because of the problem created by use of the word “complete

Air

The atmosphere of Earth is the layer of gases, commonly known as air, that surrounds the planet Earth and is retained by Earth’s gravity. The atmosphere of Earth protects life on Earth by absorbing ultraviolet solar radiation, warming the surface through heat retention (greenhouse effect), and reducing temperature extremes between day and night (the diurnal temperature variation)

1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study. Chapter two highlight the theoretical framework on which the study its based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study

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Abstract

This study was to examine and find out the role of auditing on management’s control success with a particular reference to the Department of Audit, Ministry of Finance, Uyo, Akwa Ibom State. To achieve this objective, four research questions and three research hypotheses were formulated to guide the researcher study. The data collected were analyzed using simple percentages and tables to analyze research questions, and Chi-square statistical tool was used for testing the research hypotheses. A structured questionnaire was used as the major instrument for data collection from the staff and management of Department of Audit, Ministry of Finance, Uyo. After careful analysis of the data, the following findings were revealed that; auditing enhances accountability in public sector in Nigeria. The study was concluded with some recommendations that the state government should improve the remuneration and fringe benefits of internal auditors as this would enhance their efficiency and honesty in the discharge of their duties. Undoubtedly, upholding integrity, objectivity and transparency in the conduct of their respective audit functions will make the internal auditors to be more relevant in the public sector and the rate of inadequate qualified manpower in the audit departments in the public sector should be minimized.


CHAPTER ONE

INTRODUCTION

Background of the study
Organization all round the world be it public or private or otherwise needs auditing for proper assessment of their financial statements. Auditing is an independent examination of an expression of opinion on the financial statement of an enterprise or organization by an appointed auditor in pursuance of that appointment and in compliance with any relevant statutory obligation (Chamber, 2008). It aims at providing solution to the inevitable problem of credibility in report and accounts. It prevents and detects errors and frauds and also produces a report of the true and fairness of the financial statement (Coper, 2003). They also obtain full understanding of the operations under review. The role of internal audit has grown tremendously in most organizations in the recent past. This can be attributed partly to the growth of the organizations, which entails widely extended operations and the need to ensure that the organizations policies and basic accounting controls are observed at every facet of the organization. Again, it can be observed as a measure by management to ensure that the government regulations concerning the operations of organizations, both public and private are duly complied with so as to guard against conflicts and inconsistence with the law.

As the organization expands and supervisory responsibility broadens, the head can no longer have personal knowledge of every aspect of the organization. It becomes impossible for him to control or monitor the continuing effectiveness of all controls. This calls for the delegation of this responsibility to a separate department called the internal audit department. Internal Audit Department is a department set up by management, usually manned by a Chartered Accountant, as established in section 358 of the companies Act 1976, to receive the activities of other employees thereby enhancing controls in the organization. Management’s Control Success

Decisions may be made for various purpose and they vary from one business to another. Internal control provides assurance and dependability of the financial statements used in making decision, hence, there is need for auditing of financial statement, Auditing therefore is made to determine whether persons in positions of fiscal responsibility in government and commerce are acting and reporting in an honest manner.

The ministry of finance plays a vital role in the overall planning, controlling and disbursement of government funds, for the day to day running of the state administration. Basically, these functions are carried out by various departments in the ministry, the departments; personnel, finance and supplies, planning, research and statistics, office of the Accountant general. Internal Auditing

The personnel department is headed by a director and its functions include appointment, promotion and discipline of staff and other staff welfare matters. The department of finance and supplies is headed by director, whose functions include provision of finance management information to the ministry of decision making.

Planning, research and statistics department is headed by a deputy director research into various aspects of government finances and economy while executive director is in charge of ministry of finance incorporated.

The office of the Accountant general is headed by Accountant general whose functions include provision of efficient Accounting services to the government and advising on financial matters. At the helm of affairs in the ministry is the Chief Executive called Honourable Commissioner for Finance while the Chief Accounting Officer is the Permanent Secretary. Management’s Control Success. In general, this ministry takes charge to disbursement of funds to ministries, departments, boards and parastatals for payment of staff salaries and wages, pensions and statistics. The main focus of this research state the intention of the researcher to study the impact audit could create on public sector accounting system in Akwa Ibom State.

It is argued that if shareholders have perfect information about managers‟ actions, there would be no information asymmetry between the two parties. Information asymmetry exists when perfect information is absent, which is the assumption of agency theory and since information asymmetry exists, stockholders have difficulty detecting earnings management (Fama, 1980). Though, it is argued that businesses adopt some level of discretion in their decision because no firm adopts a hundred percent rule based accounting systems when reporting their economic performances and financial position. In fact, Bello (2002) is of the opinion that it is unimaginable to have accounting systems that are totally rule based without room for occasional judgments.



The chemical and paints industry in Nigeria is considered one of the most susceptible sub-sectors of the country to earnings management. This is due to the ongoing effort by both government and industrialists to develop the industry as priority area of industrial investment and a support toward government housing policy for Nigerians. The sub-sector has undergone various levels of transformation from themanual based processes to more technologically advanced production methods. In view of the renewed interest in the industry owing to its recent impressive performance and high level of activities, it is imperative to examine its earnings management practices and how it is affected by audit quality.

1.2 Statement of problem

In the wake of corporate accounting scandals and unethical behaviours despite the existence of the code of best practice for corporate governance, earnings management has become a focal point of business strategists and academic research. The interestfeatures numerous corporate governance components like audit committee characteristics, board monitoring, corporate governance characteristics, institutional monitoring) and accounting standards, as well as the role they play in reducing earnings management. This is because unethical behaviour in reporting the earnings of firms negates the rudiments of agency relationship and misrepresents the organizations financial status.



Many studies have been conducted in the area of earnings management and audit quality most of which recognized the audit quality mechanisms as effective factors that restrain excessive opportunistic behavior amongst corporate management. Most of the studies focused on developed countries, and reported mixed findings (Krishnan, 2003; Balsam, Krishnan & Yand, 2003,DeFond, Raghunandan & Subramanyam, 2002; Beasley & Petroni, 2001; Abbott & Parker, 2000; Craswell, 1999).Some of the studies documented that Big 8, Big 6,Big 5 and Big 4 audit firmsprovide higher audit quality thannon-Big 8, Big 6, Big 5 and Big 4 audit firms (Davidson & Neu, 1993; Teoh & Wong, 1993). The studies of Kim, Chung and Firth(2003) and Lam and Chang (1994) indicate that Big 8, Big 6, Big 5 and Big 4audit firms might not always provide higher quality audit service than the others. This gave rise to the issue of inconclusiveness of findings. Given that the developed markets offer different institutional settings and litigation environments from those in the developing markets, the generalization of their findings is limited. Few studies have been conducted in emerging economies like Nigeria. The studies also documented mixed and inconclusiveness findings (Okolie, et. al.2013; Okolie, 2014; Gabriel & Ioraver, 2015).While these studies have covered some important aspects of audit quality, none of them used auditor tenure in measuring the independence of audit firms despite the strong relationship that exist between auditor tenure and quality of audit.

In addition, the studies used ordinary least square procedure with pooled data (which tends to be biased,to generate serial correlation, cross-sectional correlation and differing variances)instead of extracting panel data to test for cross-sectional effect in line with best practice in earnings management and audit quality studies.This study therefore represents a modest effort to fill the gaps identified in the literature. The study extends its analysis to cover variables that are often neglected in audit quality. The study also extends to a sub-sector that has attracted little attention with regard to earnings management despite its strategic importance to the economy of Nigeria.

1.3 Research questions

This study sets to provide answers to the following questions:

To what extent does audit firm size affect earnings management in Ministry of finance, Akwa ibom state?
What is the effect of auditor independence on earnings management in the listed chemical and paints firms in Nigeria?
How does industry specialist auditor affect earnings management in the listed chemical and paints firms in Nigeria?
1.4 Objectives of the study

The main objective of this study is to examine the impact of audit quality on earnings management of listed chemical and paints firms in Nigeria. The specific objectives of the study are to:

examine the impact of audit firm size on earnings management in listed chemical and paints firms in Nigeria;
assessthe impact of auditor independence on earnings management in Ministry of finance , Akwa ibom state
examine the impact of industry specialist auditor on earnings management in Ministry of finance, Akwa Ibom state.
1.5 Hypotheses of the Study

Based on the objectives of the study, the following hypotheses were formulated:

H0: Audit firm size has no significant effect on earnings management

H0: Auditor independence has no significant impact on earnings management.

H0: Industry specialist auditor has no significant impact on earnings management.

1.6 Scope of the Study

The study covers the period of seven (7) years, from 2006 to 2012.The period was considered adequate because prior studies on this subject matter used maximum of five(5) years. Extending the study to cover seven(7) years would enhance the robustness of the analysis. The period also covers 2007 and 2008 when the global economic crisis that exposed many world corporate scandals started. The justification for the choice ofthe domainis that chemical and paints sector has received little attention from researchers in Nigeria despite the important role it plays in the country and its contribution to the country‟s economy.

1.7 Significance of the Study

Apart from contributing to the existing literature on the subject matter, the findings of this study will be of interest to policy makers, audit firms and professional accounting bodies, as well as existing and potential investors. Policy makers may use the findings of the study regarding the auditor independence to consider the potential benefits of regulating the minimum length of audit firm tenure, in years, that same auditor should audit the financial statements of a company. It has been posited that as the auditor tenure increases, the auditor is better at assessing risk of material misstatements by gaining experience and better insights into the client’s operations and business strategies as well as internal controls over financial reporting (Arens, Elder&Beasley,2003). Therefore, this study will provide a yardstick which professional accounting bodies will use in establishing policies, procedures to guide members on improving the quality of their audit in order to reduce the way and manner earnings are being manipulated by firms.

Financial analysts may also use the findings of this study to understand how the market interprets higher audit quality in constraining earnings management effect on capital market decisions. If the market sees the firms with industry specialization, longer audit tenure and audited by a big-4 auditor as being associated with higher financial reporting quality, the reported financial statements may be viewed as more reliable for investment decision and credit assessment. Also, both existing and potential investors may be educated on earnings management’s indicators, patterns and how well to monitor and make good out of their investments. In addition, the study will contribute to increasing the available studies on audit quality and earnings management, especially in this sector.







1.8 OPERATIONAL DEFINITION OF TERMS

Internal audit

Internal audit is a dynamic profession involved in helping organisations achieve their objectives. It is concerned with evaluating and improving the effectiveness of risk management, control and governance processes in an organization

Management

Management is the administration of an organization, whether it is a business, a not-for-profit organization, or government body

Control

The power to influence or direct people’s behaviour or the course of events. ‘The whole operation is under the control of a production manager’ ‘the situation was slipping out of her control’

Success

Success is the achievement of a high position in a particular field, for example in business or politics. Nearly all of the young people interviewed believed that work was the key to success.



1.8 ORGANIZATION OF THE STUDY

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study


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Abstract

Corporate organizations owe a duty to fully disclose matters concerning their operations so as to aid investors in making investment decisions because Investment decision makers rely on information obtained from financial statements to predict future rates of return. Without the financial statement, there will be a problem of how to determine the profit of a company, and evaluation of performance of a company. The general objective is to ascertain the role of financial statement in investment decision making. The study will be based on survey and questionnaire will be used to gather information. There is a total population of 70 personnel but the sample size is 60 using Taro Yamane’s formula. The methods used in analysing this study are simple percentage and chi-square. We discovered from the test of hypotheses that financial statement is relied upon in investment decision making and financial statements are useful for forecasting company’s performance. Concluded was drawn based on the findings that financial statement plays a vital role in investment decision making and recommends that no investment decision should be taken without the consideration of a company’s financial statements

 

CHAPTER ONE

INTRODUCTION

Background of the study
Decision making process requires information – financial and non-financial information as well. The most important financial information needed in the process of business decision comes from accounting. Therefore, we can say that accounting is a service function to management. It basically, processes or gathers and studies “raw data” and converts them into suitable information in the process of decision making. The basic characteristics of the accounting are: Gathering, processing and presenting accounting (financial) information; information considering company’s business and those directed towards different interested users. Accounting process contains several phases. Basically, it is a process in which input data are converted into output information. Katarina Zager, Lajos Zager, 2006). Organizations both public and private need to disclose financial information relating to their operations in order to assist investors in making investment decisions. They do so as a matter to satisfy the legal requirement, retain existing investors and to attract potential ones through the publication of their financial statements where the capital stock of an organization is widely held and its affairs are of interest to general public relations (Amedu, 2008).  Corporate organizations owe a duty to fully disclose matters concerning their operations so as to aid investors in making investment decisions. Both large and small organizations in addition to satisfying the legislating requirement tend to retain existing investors and to attract potential ones through the publication of their financial statements where the capital stock of a corporation is widely held and its affairs are of interest to general public relations. The discussions and illustrations of the study is centered on the financial statement presented to shareholders and also available for potential investors, bond holders and trade creditors as a tool of information for investment decision. Financial statement based on result for the past activities was analyzed and interpreted as a basis for predicting future rate of returns and assessment of risk (ICAN, 2013).

Financial statement provides important information for a wide variety of decision, investors draw information from the statement of the firm in whose security they contemplate investing. Decision makers who contemplate acquiring total or partial ownership of an enterprise expect to secure returns on their investment such as dividends and increase in the value of their investment [capital gain]. Both dividends and increase in the value of shares of company depends on the future profitability of the enterprise. So investors are interested in future profitability. Past income dividend data are used to forecast returns from dividend and increase in share prices.

The insurgence of corporate failures, like that of Enron Corporation and World.com in the year 2002 and other accounting scandals compounded by the global energy, food and financial crisis leading to credit sqeeze across the globe, has partly been attributed to impact of financial statement manipulations which portrayed some ailing company as if they were sound. In Nigeria also, corporate failures and distresses have been witnessed in the banking sector. Evidence was the huge collapse of the Cooperative and Commerce Bank (CCB), Orient Bank of Nigeria, African Continental Bank (ACB) all due to massive accounting related frauds. This problem resulted in the establishment of Asset Management Company of Nigeria (AMCON) to prevent corporate failures particularly in the Nigeria banking sector by acquiring and financially distress companies This trend has now more than ever ensures that financial statements are sternly scrutinised. Investors, Financial analysts and other users of accounting information tend to use their ‘third’ eye to scrutinise financial statements. This became necessary because audited financial statements, which used to provide assurance as to the healthy nature or otherwise of a firm has now, become an object of criticism due to manipulations done in these statements. According to Bishop and Wells (2002 ),one of the most difficulties facing the auditing profession is that there is no auditing process that can provide absolute assurance in detecting all fraudulent financial reporting. Calls have been made on the accounting/auditing profession to employ investigative principles in the preparation and audit of financial statements in order to restore confidence of the investing public on the financial statements. Silverstone and Sheetz (2007) opine that contrary to the external auditor who is basically concerned about compliance, the forensic accountant should employ investigative, law and business principles and accumen to carry out investigations on financial statement and prepare it for the court. Obviously it is the responsibility of the companies’ directors and management to prepare the final account of their companies. When a company prepares its own final account purely for internal use by the directors and management, it can draft them in any way which is most suitable. Although such accounts might have been prepared with strict adherence to accounting theory and principles but will not necessarily be the one to be published. These separate sets of statements are viewed by investors as creative accounting and has contributed to eroding public confidence on the published financial statements. Banks have accused of publishing paper profits (Soludo, 2009). There is therefore the general belief that published financial statements have failed in its responsibility of provide credible information for investors and other users of financial statements. This study therefore investigates the degree of reliance on the published financial statements by corporate investors in Nigeria with a view of finding the extent of the erosion of public confidence on the published financial statements. The study focuses on the banking sector because the banking sector in any country plays a pivotal role in setting the economy in motion and in its developmental processes. Banks promote growth and success of businesses in both developed and developing countries. According to Kamath (2007), the banking sector is an ideal area for this type of research because the banking sector is “intellectually” intensive and its operations more homogeneous than those in other economic sectors.

 

STATEMENT OF THE PROBLEM
It was observed, that the position of financial statements as an investment decision making tool in Nigeria, has some problems to both investors and managers of businesses who are not aware of the importance of interdependence relationship that exist between investors and business organizations. Such problems include: Firstly, whether all necessary disclosure have been made by the management of the enterprises, which can now convince a person that deductions made base on the financial statement is not misleading. Secondly, evaluation of performance of a company in investment decisions making and how to determine the profitability of a company. in view of the above stated problem, the researcher intend to investigate the role of financial statement in investment decision making by potential investors

1.3 OBJECTIVE OF THE STUDY

The main objective of this study is to investigate the role of financial statement in investment decision making; specific objective includes:

To ascertain the role of financial statement in investment decision making
To investigate if there is any relationship between financial statement report and investment decision of potential investors
To evaluate the effect of window dress financial statement on investment decision making of the investors
To ascertain the impact of financial statement report on investors confidence
RESEARCH HYPOTHESES
To aid the completion of the study the following research hypotheses are formulated by the researcher:

H0: financial statement report does not play any significant role in investment decision making

H1: financial statement report does play a significant role in investment decision making

H02: there is no relationship between financial statement and investment decision by potential investors

H2: there is a relationship between financial statement and investment decision by potential investors.

 

SIGNIFICANCE OF THE STUDY
It is believed that at the completion of the study, the findings will be of great important to investors and potential investors, as the study seek to evaluate the role of financial statement in investment decision making.

The study will enhance benefit to different types of stakeholders by improving their organizational performance, such stakeholders are financial analysts, investors and other financial organization by widening their knowledge on the use of the financial statement in decision making process The study will make organization to appreciate the importance of sound financial statement in provision of information necessary for decision making. Finally this research will equally serve as reference to students in this noble institution and other school who may be interested to embark on further research study

SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers the role of financial statement in investment decision making, in the cause of the study, there were some factors which limited the scope of the study

a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study.
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities        and examinations with the study.
c) FINANCE: The finance available for the research work does not allow for wider coverage as resources are very limited as the        researcher has other academic bills to cover.
1.7 DEFINITION OF TERMS

Financial statement

Financial statements are a formal record of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form easy to understand.

Decision making

decision-making is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities. Every decision-making process produces a final choice, which may or may not prompt action.

Investors

An investor is a person that allocates capital with the expectation of a future financial return. Types of investments. This definition makes no distinction between those in the primary and secondary markets.

ORGANIZATION OF THE STUDY
This research work is organized in five chapters, for easy understanding, as follows Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study. Chapter two highlight the theoretical framework on which the study its based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding.  Chapter five gives summary, conclusion, and recommendations made of the study.





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CHAPTER ONE

INTRODUCTION

Background of the study
Taxation is not a new word in Nigeria or the world as a whole. In Nigeria, taxation has been in existence even before the coming of the colonial men or the British. Taxation can be defined as the system of imposing a compulsory levy on all income, goods, services and properties of individuals, partnership, trustees, executorships and companies by the government (Samuel and Simon, 2011;Yunusa, 2003). Income tax is one of the major sources of revenue to all government. In Nigeria, it is a factor to be reckoned with in Federal Government’s budget the taxes so collected come back to the taxpayer in form of services. This has over the years encouraged or discouraged some activities in the private sector; though, this depends on whether the policy of the government is towards discouraging or encouraging such companies (Ola, 1999). Taxation is recognized as a very important tool for national development and growth in most societies. It has viewed as a major vehicle for long term development of infrastructures of the state.

With the growth and increasing globalisation of businesses (including the increased mobility of capital and rise of e-commerce), the opportunities for taxpayers to violate tax laws are expanding, prompting the need for the tax administration to continually update and broaden the strategies it uses to deal with this problem. Tax fraud occurs when an individual or business entity willfully and intentionally falsifies information on a tax return in order to limit the amount of tax liability . Tax fraud essentially entails cheating on a tax return in an attempt to avoid paying the entire tax obligation. Examples of tax fraud include claiming false deductions; claiming personal expenses as business expenses; and not reporting income. Most developed countries are characterized by a broad base for direct and indirect taxes with tax liability covering the vast majority of citizens and firms. Developing countries, in contrast, are confronted with social, political and administrative difficulties in establishing a sound public finance system. As a consequence, developing and emerging countries are particularly vulnerable to tax fraud activities of individual taxpayers and corporations. This can be considered one of the primary reasons for large differences in the ability to mobilize own resources between developed and developing countries.

Detecting and preventing tax fraud and making sure that it cannot be repeated is not solely the responsibility of tax authority and tax officials. Without the cooperation of general public working in high risk areas, it is very difficult to detect illegal tax malpractice and illegitimate personal gain. Therefore, it is up to all levels of hierarchy in public institutions to create an environment of transparency, ethical conduct and accountability in order to ensure proper handling of the very important issues of prevention, detection and handling of tax fraud cases in among the general taxpayer.

The doctrine describes tax fraud as a form of deliberate evasion of tax which is generally punishable by law. The term ‘tax fraud’ includes situations in which deliberately false statements are submitted, fake documents are produced, etc. Sanctions may include civil or criminal penalties Finally, the revenue generated by the government from taxation forms a major source of finance to the federal government capital expenditure which is crucial to sustainable economic development. A major challenge to the government in generating this revenue has been the increasing rate of tax fraud offences committed by both tax payers and tax officials.

Therefore tax fraud and other related tax offences are important factors to be considered as they affect both the volume and nature of government finances which is the key to economic development.

1.2. STATEMENT OF PROBLEM

Tax Fraud and other tax offences perpetrated by tax payer heavily harm the economy, lower investment levels and reduce government revenue generation. Anti-tax fraud and tax authority strategies are often not effective enough. Damages done to economy and their budgets as a result of tax fraud can be enormous ranging from financial loss to reduction of economy performance, reputation, credibility and public confidence.

Tax systems in many developing countries are characterized by tax structures being not in line with international standards, by lack of tax policy management, low compliance levels and inappropriate capacities in tax administration. The difference in revenue mobilization also stems from economic conditions (size of the informal sector).

In fact, most developing countries show a trend towards the prevalence of indirect taxation. Many of them rely to a great extent on indirect taxes such as value-added taxes (VAT) with indirect taxes amounting for up to two-thirds of total tax revenues, yet it is not new that, the negative menace of tax fraud deprives governments of revenues needed for public spending Forces honest taxpayers to pick up the tab Erodes community confidence in the equity of the revenue system.

Finally, the current method of collecting taxes/levies from tax payers lack proper organization and prone to obvious fraudulent activities, thereby resulting to loss of funds by the State Government. This however, leads to the inability of the Government meeting the basic projects requirements like rehabilitation of roads, building/ renovation of hospitals, schools and so on.

The tax administration system does not clearly states the strategy that is being used to apportion taxes or levies or charges to some key business enterprise like electronic shops, saloon, hawkers, petty shops, barbing saloon, recharge card resellers, cosmetics shops, super markets etc. Random amount is being collected as taxes/levies from these business enterprises, which might be below or over charged taxes; and most times the levies/taxes might not be remitted to the state Government or if remitted, a reasonable amount would have been diverted by the officers in charge of the collection. This situation occurs because there is no proper structure on ground to determine the exact monies and the number of petty shops or saloons in a given location, to enable the State Government to ascertain the actual figures, in terms of Naira and Kobo that is generated from most small scale businesses majority of who are individual taxpayers.

1.3. OBJECTIVES OF THE STUDY

The main objective of this research work is to assess the role of tax officials in the prevention and detection of tax frauds in Nigeria.

The research study will highly focus on specific objectives particularly which will be to:

Identify the concept of taxation and tax fraud offences under Nigeria tax system;
Identify legal and administrative measures used to address tax frauds.
Evaluate the techniques/modes adopted by the taxpayers in committing tax fraud.
Identify weaknesses in addressing tax fraud by tax authority.
Examine the impact of tax fraud offence on the revenue of the Government in particular and the economy of the country, as a whole.
Recommend mechanisms that should be used to control and curb tax fraud offences.
1.4. RESEARCH QUESTIONS

People talk about tax matters, complain about them and try to dodge them when they can. Some always pay; some always cheat; and some cheat when they think they can get away with it. Businesses also react to taxes, both in how they organize their activities and, perhaps, in where they carry them out.

This research is intended to find the possible solutions for the following questions:

Concept of taxation and tax fraud offences under Nigeria tax system?
What are the legal and administrative measures used to address tax frauds?
What are the various techniques/modes adopted by the taxpayers in committing tax fraud?
Weaknesses in addressing tax fraud by tax authority?
Are there any effect of tax fraud offence on the revenue of the Government in particular and the economy of the country, as a whole?
Recommend mechanisms that should be used to control and curb tax fraud offences.
1.5. STATEMENT OF HYPOTHESIS

The following null hypotheses were formulated and tested:

Hypothesis one

Hi: Tax officials plays a significantly role in the reduction/prevention of tax Fraud among taxpayers.

Hypothesis two

Hi: Tax fraud has drastically reduced revenue generation in Nigeria.

1.6. SIGNIFICANCE OF STUDY

Tax fraud is a general phenomenon that is probably as old as taxation itself. Wherever and whenever authorities decide to levy taxes, individuals and firms try to avoid paying them. Though this problem has always been present, it becomes more pressing in the course of globalization as this process extends the range of opportunities to circumvent taxation while simultaneously reducing the risk of being detected.

For the purpose of this study, this research study would contribute to the existing literature on tax fraud by focusing on reform of tax laws and policy in Nigeria with a view to identifying the critical problems on the collection of tax levy and causes of tax fraud among taxpayers so that appropriate measures could be taken to tackle them.

This study shall also seeks to set out, a concrete analysis of other tax fraud offences such as tax evasion/avoidance perpetrated by individual tax payers and corporations, and it will also consider the ‘dark’ side of professional practice by examining the involvement of tax officials in facilitating tax fraud, tax avoidance, tax evasion and other related tax offences in Nigeria.

Finally this study will be of great significance to government, tax officials, tax authority, small scale entrepreneur, investors, corporate organizations, schools and students who are regular taxpayers, it will serve as a reference point for student who would like to make future research or contribute to the existing literature.

1.7. SCOPE OF THE STUDY

In the light of broad coverage, the researcher focuses on the role of tax authority in detection and prevention of tax fraud in Nigeria, particularly among small tax payers in Ibadan, Oyo State.

The researcher limit his research to small scale entrepreneur in Ibadan Metroplis because they constitute 50percent of taxpayers in the states, some of which are used to avoiding the payment of tax, thereby reducing internal revenue generated by the state government.

1.8. LIMITATION OF THE STUDY

Little time and inadequate funds: the researchers was not able to generate complete and concrete research material, this is because of time and money constraints at the disposal of the researchers, on one hand, and the unwillingness and the busy schedule of the Tax officials, in the other, in order to provide us with more appeal cases and their valued opinions.

However, we had to convince the respondents by giving gentlemen word that the names of the corporate firms would not be disclosed in our study and the materials would be used for this study purpose only.

Not enough previous research work has been carried out on this study, thus creating a lump sum of work for the researcher, and extending the duration initially budgeted for the completion of the research study.

1.9. DEFINITION OF TERMS

Tax fraud: tax fraud occurs when an individual or business entity wilfully and intentionally falsifies information on a tax return in order to limit the amount of tax liability.
State Taxes: Personal Income Tax, Road Taxes, Pools betting and lotteries, Business premises registration, Development Levy, Naming of street registration in state capitals, Right of occupancy on land owned by state, and Market taxes on state financed taxes.
Tax Evasion:Tax evasion is a deliberate and wilful practice of not disclosing full taxable income so as to pay less tax.
Tax Avoidance:Tax avoidance has been defined as the arrangement of tax payers’ affairs using the tax shelters in the tax law, and avoiding tax traps in the tax laws, so as to pay less tax than he or she would otherwise pay
Non-Compliance: can be defined as the failure on the part of a taxpayer to correctly file returns, report actual income, claim the correct deductions, reliefs and rebates and remit the actual amount of tax payable to the authority on time.
Tax: is a compulsory levy payable by individual economic units or corporate bodies to government without any direct quid pro quo from the government.
FRAUD: is an act or course of deception, deliberately practiced to gain unlawful or unfair advantage; at the detriment of another.
Direct and Indirect Tax:direct taxes are levied on persons or property, while indirect taxes are levied on manufacture, sale, consumption, and the like, and are indirectly paid by the consumer.
ORGANIZATION OF THE STUDY
This research work is organized in five chapters, for easy understanding, as follows Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study. Chapter two highlight the theoretical framework on which the study its based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.


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TABLE OF CONTENT
Title page
Certification page
Approval page
Abstract
CHAPTER ONE
INTRODUCTION
Background of the study
Statement of problem
Research questions
Objective of the study
Significance of the study
Scope of the study
Limitation of the study
Operationalisation of the study
CHAPTER TWO
Gap in iterature(quaote authors)
Theoretical framework
Research hypothesis
Research methodology
CHAPTER THREE
Testing of hypothesis
CHAPTER FOUR
Testing of hypothesis
CHAPTER FIVE
Summary of findings
Conclusion
Recommendations
Reference

Abstract
Africa has witnessed various efforts of economic integration at the continental and regional levels. While the idea of regional integration is as old as the Organization of African Unity now renamed as African Union, recent summits have reaffirmed Africa’s commitment toward boosting intra-Africa trade and integration. With the grand aim of forming a continental economic community (African Economic Community) in the future, African countries aspire to use the various regional economic communities as building blocks. Despite such endeavors, however, the continent’s economy has remained fragmented, inter alia, due to low level of infrastructure development and the state-centric nature of the integration efforts. The overlapping multiple memberships of countries to the regional groupings has complicated the integration effort. The absence of clear rule on the relationship between the existing regional economic communities and the ‘to-be-formed’ African Economic community has also contributed to the uncertainty in the integration process. In view of these challenges, I argue that the focus on speeding up the formation of the continental wide free trade area (FTA) does not seem timely; and the focus should rather be redirected at strengthening the regional economic communities



CHAPTER ONE
INTRODUCTION
1.1 Background of the study
Economic integration (EI), which is an embodiment of custom unions, trade blocs, and free trade area, has the ultimate aim of promoting trade participation of Members and in the long-run enhancing economic performance and welfare of their citizenry. EI cannot operate in a vacuum, it requires some sort of components such as transport and communication facilities, critical mass of capital, institutions, and so on to meaningfully realize its objectives (Essien, 2009). It is on this axiom that regional economic communities (RECs) are established across the world, which Economic Community for West African States (ECOWAS) is good example. Countries wish to join their economies for various reasons, some of which include attraction of foreign investment, enhancing cooperation, fostering security and generally attaining economic development. With these aims in mind, governments sign and become members of multiple regional integration schemes. However, some of these integration schemes simply reflect the desire but not always the political will to capture the economic gains and international negotiating strength that regionalization can bring.8 Africa is not peculiar in this respect. A number of initiatives have been launched in the continent to bring economic and political integration. These integration efforts have been undertaken concurrently at continental and regional levels. On the continental level, the effort of integration started with the adoption of the OAU Charter in 1963 which envisions initiatives to integrate the Africa region for the promotion of economic and social development. The integration effort in Africa was taken a step further, at least on paper, through the adoption of the Lagos Plan of Action (LPA) in 1980. The failure of African countries to implement the LPA did not stop the governments from wishing to have a continent wide economic and political integration. That is why, in 1991, the Heads of States decided to give another try for the talk of integration and revived the 1980 LPA through the adoption of the Treaty Establishing the African Economic Community (Abuja Treaty). The Abuja treaty, which entered into force in 1994, aims at forming an African Economic Community composed of all African states over a period of 34 years and using six stages of integration. The preexisting Regional Economic Communities (RECs) are to be used as a building block for the establishment of the AEC. Parallel to the continental wide movement, there are various RECs in the different corners of the continent. In the Eastern and Southern parts of the continent, the Common Market for Eastern and Southern Africa (COMESA) replaced a Preferential Trade Agreement (PTA) and the Southern African Development Coordination Conference changed into the Southern African Development Community (SADC) whereas the Mahgreb and Mashraq groups have renewed their integration efforts in the Northern Part of Africa.9 We have also the Economic Community of West African States (ECOWAS), Economic Community of Sahelo-Saharian States (CENSAD), the Intergovernmental Authority on Development (IGAD) and the East African Community (EAC). Despite all these efforts at integration, the continent still remains to be fragmented as a market, and its aspirations toward political unity is far from being real. A cursory observation at some indicators of EI indicate that the share of ECOWAS' import ranges from 11.67% to 17.04% between 2000 and 2010; while that of export share was between 8.40% and 14.18% within the same period. This means that ECOWAS sub-region has greater share in world import than export denoting that it is net importer. It has also been noted that the ECOWAS sub-region meets about 80% of the regional population's food need, which implies that the net food import is about 20% (ECOWAS Commission, 2010). This is crucial given understanding that food is fundamental to human existence and agricultural sector is expected to provide food, among other things. One of the cardinal objectives of RECs is to promote trade within the region (intra-regional trade) as trade barriers are significantly reduced. The values in Figures 1a and 1b show that the level of ECOWAS' total export and import increased markedly between 1999 and 2009. Export increased from USD 20 billion in 1999 to USD 100 billion in 2009 while import increased from USD 18 billion to USD 60 billion. However, intra-regional trade (both import and export) declined within the same period. For instance, intra-regional export fluctuated between 8.4% and 14.2% from 2000 to 2010, while that of import was between 11.5% and 19.9%. Thus, both intra-regional export and import were less than 20%, which implies that more than 80% of trade in ECOWAS sub-region is with other countries in other regions. The export of ECOWAS Members within the region was very low. It was as low as 0.1% in 1999 and 0.4% in 2005 for Cape Verde just like Guinea Bissau that was 0.1% in 2001, 2007 and 2011. For the import of ECOWAS Members from the region, it was also very low, where it was only 0.5% and 2.3% respectively in 1999 and 2007 in Nigeria (ECOWAS Trade Data, 2010). Others have similar pattern with the exception of few. Trade facilitation (TF) examines how procedures associated with cross border trade can be improved through the reduction of transaction costs. TF is believed to enhance competitiveness in world market (ICTSD, 2011). Some other indicators of TF, namely: number of documents required for both import and exports as well as number of days required to process goods for import and export show that it requires about 8 and 9 documents for export and import in ECOWAS sub-region compared to about 7 and 8 of same for the world average (World Bank, 2010). Furthermore, it requires about 30 and 36 days to finish the process of export and import documentation in ECOWAS sub-region unlike 26 to 29 days for the world average (World Bank, 2010). It is equally noted that the average teledensity rate in ECOWAS sub-region in 2010 was 17.98 per 100 inhabitants compared to the averages for sub Saharan Africa (SSA) and world that were 23.35 and 83.09, respectively (Olayiwola and Osabuohien, 2012)
1.2 STATEMENT OF THE PROBLEM
In West Africa, there are many regional bodies. Three of them can be identified as explicitly concerned with the promotion of intra-regional trade glows: The Economic Community of West African States (ECOWAS), Communicate Economique de l’Afrique del’ Ouest (CEAO) and MANO River Union (MARIUN). During the last few decades, there has been a great deal of momentum towards regional integration, inspired by the growing awareness of globalization, increasing homogeneity in issues relating to fiscal, financial and technical barriers to trade. These as well as the rapid growth in scientific and technological innovations are all among factors that underlay the importance and need for the various regional cooperation schemes that have come into existence since World War. It is in view of the above that the researcher intend to investigate the challenges of free trade and regional integration among west African state.
1.3 RESEARCH QUESTION
The following research questions were formulated by the researcher to aid the successful completion of the study;
i) Are they effect of economic integration on trade facilitation in ECOWAS?
ii) Is there any significant relationship between regional economic integration and free trade (exports and import) in ECOWAS?
iii) Does ECOWAS play any role ECOWAS in economic integration and trade facilitation among member state?
iv) Are there challenges encountered by ECOWAS in attaining regional economic integration among member state?
1.4 OBJECTIVE OF THE STUDY
The main objective of this study is to examine the challenges of free trade in economic community of west Africa state and regional economic integration, but to enhanced the successful completion of the study, the researcher intends to achieve the following specific objective;
i) To examine the effect of integration on trade facilitation in ECOWA
ii) To examine the relationship between regional economic integration and free trade (exports and import) in ECOWAS
iii) To ascertain the role of ECOWAS in economic integration and trade facilitation among member state
iv) To examine the challenges of ECOWAS in attaining regional economic integration among member state.
1.5 SIGNIFICANCE OF THE STUDY
It is believed that at the completion of the study, the findings will be of great importance to member state of the economic community of west Africa state as the study seek to explore and investigate the challenges that hampered the organization from implementing the free trade agreement among member state, the study will also be of importance to researchers who intend to embark on a study in similar topic as the study will serve as a reference point to further research, the study will also be of importance to students, teachers, lecturers, academia’s and the general public as the study will contribute to the pool of existing literature on the subject matter and also add to knowledge.
1.6 SCOPE OF THE STUDY
The scope of the study covers regional economic integration and the challenges of free trade in economic community of west Africa state (ECOWAS). The study covers a specific time frame between (2010-2018)
1.7 LIMITATION OF THE STUDY
In the course of the study, there are certain factors that limited the scope of the study which are beyond the researchers control;
a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational privacy: Limited Access to the management of the organization (ECOWAS) makes it difficult to get all the necessary and required information concerning the activities.
1.8 OPERATIONAL DEFINITION OF TERMS
ECOWAS
The Economic Community of West African States, also known as ECOWAS, is a regional economic union of fifteen countries located in West Africa. Collectively, these countries comprise an area of 5,114,162 km², and in 2015 had an estimated population of over 349 million.
ECONOMIC INTEGRATION
Economic integration is the unification of economic policies between different states through the partial or full abolition of tariff and non-tariff restrictions on trade taking place among them prior to their integration
FREE TRADE
Free trade is a trade policy that does not restrict imports or exports; it is the idea of the free market as applied to international trade. In government, free trade is predominately advocated by political parties that hold liberal economic positions, while economically left-wing and nationalist political parties generally support protectionism




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TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgment

Abstract

Table of content

CHAPETR ONE

1.0 INTRODUCTION

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research Hypotheses

1.5 Significance of the study

1.6 Scope and limitation of the study

1.7 Definition of terms

1.8 Organization of the study

CHAPETR TWO

2.0 LITERATURE REVIEW

CHAPETR THREE

3.0 Research methodology

3.1 sources of data collection

3.3 Population of the study

3.4 Sampling and sampling distribution

3.5 Validation of research instrument

3.6 Method of data analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS AND INTERPRETATION

4.1 Introductions

4.2 Data analysis

CHAPTER FIVE

5.1 Introduction

5.2 Summary

5.3 Conclusion

5.4 Recommendation

Appendix



















Abstract

This study was designed with the aim of investigating the role of claim settlement in the growth of insurance company within the Nigerian insurance industry. To this end, the researchers have been able to assess the effectiveness and efficiency of claims handling process and thus, examine its promptness in relation to the organizational productivity of insurance companies in Nigeria. Claims handling procedures should be promptly managed to avoid deficiency in organization’s operational objectives, and lastly, Government should ammonize their resources and technical knowhow with the Nigerian insurance industry in ensuring that insurance claims are well designed to curtail fraudulent claims experienced in the past













CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY
Insurance is a unique industry and one of the contributing tractors to its uniqueness is the product on the insurer that is, the promise to indemnity at a future date, is tangible. It has been generally accepted that insurance industry exist to guarantee the continued existence of other industries (Mehr and Camack (1976).

As an illustration if a factory that is insured is destroyed, insurers will indemnify the insured by replacing or reinstating the factory thereby guaranteeing the continued existence of the factory. The reputation of any insurance company depends to a large extend on the sort or claims services provided by that insurance company to its policyholders.A company may be run very efficiently and soundly in every respect, its policies may be delivered promptly and renewals handle efficient claims department may ruin the reputation of the insurance company (OJUKWU 2006: 32).

And company maybe run very efficiently and delivered promptly and renewals handled efficiently, but an unreliable and in efficient claims department many ruin the reputation of the insurance company.

However, any insurance company that wants to safeguard its future and sustain growth must take its claim settlement obligation very serious in order to survive in the comparative insurance markets.

BACKGROUND OF THE ORGANIZATION
I.G.I (industrial and general insurance) commences business in 1992 as a composite insurer to transact the business of life and general insurance (including pensions and special risk).

The company quickly established a reputation for exceptional competence in the delivery of customer centric services as well as product innovation with a strong capital base, highly qualified professional and deployment of modern technology for speed and efficiency, insurance companies has become the preferred insurer for individual and corporate clients seeking premiums insurance and related financial services and related financial services.

In 1996, four years after the insurance company in Nigeria achieve N1billion in premium income.

We have, within our few years of existence been able to power ourselves as market leasers in the insurance companies. In 2004, manicured its leadership position in insurance company with a premium income in excess of N 4billion, the highest in volume of business by any private insurance company in Nigeria.

In insurance company it also has a wide and diversified invest profile which include ownership and majority equity holing.

In companies engaged in telecommunications services, mortgage banking, aviation, oil and engineering services, forestry and health care delivery services amongst others.

From inception, insurance companies has demonstrated exceptional competence and expertise in the underwriting of specialized risk in oil and energy marine, aviation, engineering and industrial risk management.

This reputation earned the company national recognition in 1996 when it was appointed by federal government as the leading member of a consortium of four insurance companies to handle the insurance program of the Nigerian national petroleum corporation (NNPC), the federal government owned oil exploration and refining company.

The remarkable performance achieved in 1996 led to the re-appointed of the insurance companies from 1997 and 1998.

Insurance companies also handles the insurance programmes of foreign oil companies operating in Nigeria including the shell petroleum development companies of Nigeria, ELF petroleum Nigeria, agip oil company, addax petroleum and pan ocean oil corporation, among others.

In 2005, insurance company underlined its resolve to be a key player in the African insurance market when it acquired 60 percent majority shareholding in the national insurance corporation limited (NICL) of Uganda after a competitive international binding exercise.

Through recruiting, deploying, people with diverse talents and capabilities, the company has been able to build solid and substainable value added relationship with customers and other stakeholders.

Above all, the corporation emphasizes the promptsettlement to claims, several measure have been put in place to ensure that genuine claims are paid when due without any bottleneck.

STATEMENT OF PROBLEM
Most business organization aim at achieving and sustaining growth in insurance business, however, efficient claim settlement immensely contributed to the growth of an insurance company.

However, in their bid to attain growth through claim settlement, insurers encounter the following problems.

Members of the public do not think/believe insurance companies settle claims.
Death of professionally qualified insurance personnel is responsible for poor underwriting results/loss in insurance companies.
Most of the claims lodge on companies are fraudulent.
Most of the insured do not insure for full value of risk because they do risk want to pay proportional premium (i.e) (full premium) under insurance a major problem to insurance companies.
Too much restriction on investment through legislations affect the investment income of insurance companies.
Too much restrictions on investment through legislation affect the investment income of income companies.
OBJECTIVE OF THE STUDY.
The major aims of this study is to investigate the role of claims settlements in the growth of an insurance company.

Therefore it specific objectives include

To study the meaning of claim settlement
To study the causes of delay in claim
The researcher will also evaluate the problems of the effects of government restriction to insurers to invest their funds.
To examine the impact of claims settlement in growth of an insurance company examine the challenges of claim settlement.
RESEARCH QUESTIONS
What is claim settlement?
To evaluate the causes of delay in claim settlement by an insurance company.
How does government policies affect the way insurers invest their funds.
To evaluate the extent of claims settlement on the growth of an insurance company.
STATEMENT OF HYPOTHESES
HYPOTHESIS ONE

H0: delays in claims settlement do not affect the performance of can insurance companies.

H1: delays in claims settlement affects the performance of insurance companies.

HYPOTHESIS TWO

H0: prompt settlement of claims does not increase public confidence n insurance and gradual guarantee of growth of the insurance company.

H1: prompt settlement of claims increases public confidence insurance and gradual guarantee of growth of insurance company.

HYPOTHESIS THREE

H0: government policies affects or restricts the way insurers invest their funds.

H1: government policies does not affects or restricts the way insurers invest their funds.

SIGNIFICANCE OF THE STUDY.
The study will be of significance to the insuring public investors, underwriters and government.

As it deals with the ways of settling claims and how affects the growth of the insurance industry.

The insurance industry will understand the more, the effect claim settlement has people and maximize the knowledge by giving claims settlement without unnecessary delay thereby increasing the confidence the public have in insurance business.

The people will definitely be at the receiving end when the insurance companies efficiently pay settlement claims.

The investor on the other hand will have a rosy dividends on their investment when people’s confidence on the insurance company increases which will turn and also bring about increased profits. The government will symbiotically receive from the positive development by the spiral effect that the insurance business boom is going to have on the economy through increased taxed and other indirect means.

SCOPE OF STUDY.
This research work cover the aspects, the role of claims settlement in the growth of an insurance company is a case selected for this project work. The name and address of the selected company is industrial and general insurance (I.G.I) plc; located IGI House 2, AgoroOdiyan Street, off AdeolaOdekuStreet, Victoria Island Lagos; Nigeria.

The above mentioned company is used as a case study due to the fact it is one of the founding pioneer o insurance companies in Nigeria and is a major stakeholder and playmaker in the Nigeria insurance setup. And its occupies a major part of the Nigerian insurance market.

DEFINATIONS OF TERMS.
Claims: is a formal request to an insurance company asking for a payment based on the terms of the insurance company. Farlex financial dictionary (2012).
Settlement: the payment of proceeds by an insurance company to the insured to settle an insurance claim within the guidelines stipulated in the insurance policy.
Insurance: is a contract represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.
Insured: the person who obtains or is otherwise covered by insurance on his or her health life, or property.
Insurer: a person or company that underwrites and insurance risk, the party in an insurance contract undertaking to pay compensation.
Claims settlement: is an agreement between at least two parties to settle a legal claim with a payment.
Delay: is an occurance which can be sometimes deliberate in which an insurance company does not compensate the insured as at when due.
Funds: a sum of money saved or made available for a particular purpose.


REFERECES

Ojukwu (2006:32); insurance law and practice in Nigeria, Ibadan. Henemzin books Nig (plc).

Zeckhauser, Richard (2008); insurance insights

Mehr and Camack (1976); principles of insurance.

Adams J (2012); impact of changing regulations on the industry.

Farlex financial dictionary (2012)



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Business and Management are the disciplines devoted to organizing, analyzing, and planning various types of business operations. And if that sounds really general, that’s just because these fields cover a lot of ground. These degree programs teach the fundamental skills that are required to efficiently run or manage a business. That’s why you’ll find Business and Management majors in every industry, in a variety of different types of jobs. So, whether you want to work for a large corporation, or in a mom-and-pop shop, you can be confident that a degree in Business and Management will teach you the skills and theory you need for a successful career.
WHY SMALL BUSINESS ENTERPRISES SURVIVE IN A SECURITY CHALLANGED ENVIRONMENT A CASE STUDY OF SMALL BUSINESS ENTERPRISE WITHIN JOS AND ENVIRONS
In the past few decades, there has been a shift in approach to improvement of economic growth by every country. For instance, Nigeria for long time, so depended on its natural resources, that oil became a center of controversy. Today new trends have emerged. The most revered countries in the world are no longer those that were respected became of natural resources like oil. Countries with greatness and prospects of greatness are the ones propelled by people who use their minds. Those who trade ideas and products of ideas, people who constitute the wealthiest people in the world today like Bill Gates who started his business very small and eventually became a positive force in the economy of his country. Therefore, there is an urgent need for managers of Nigeria’s economy to increase attention to small business enterprise and re-emphasize their importance to national economic development by improving conducive environment for the creation of new ones and furthering the strength of existing ones (Ejiofor, 2008).
The broad objective of the study is to examine why small business enterprises survive in a security challanged environment a case study of small business enterprise within jos and environs.
Specifically, the objective of this study is to:
1. The primary objective of this study is to point out the factors and reasons why small business enterprise survives in a security challenged environment.
2. To encourage the citizens on embanking on small business as a way to lead to economic growth in the country.


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WAGES AND SALARY ADMINISTRATION IN NIGERIAN CIVIL SERVICE PROBLEM AND PROSPECT
The In a public sector organization, individuals are employed to carryout various activities to achieve the organization stated goals and objective. These individuals are the civil servants or bureaucrats who work in the civil servants is the life wire of the state machinery and an essential factors for initial development also he further stated that civil servants is a large scale organization of per market government paid official who are reunited in a civil capacity by the civil service commission, executive authority of government, and whose activities are guided by certain rules of procedure and operation in a systematically interrelated pattern, to achieve the complex objectives of its government. These government officials who are reunited in the civil service have at their disposal knowledge skills, attitude, experiences and qualification in order to meet with the goals of the government. The government/employer on the other hand have at its disposal to pay to attract the employee/civil servants to work for the government organization and become her member.
The broad objective of the study is to examine wages and salary administration in Nigerian civil service problem and prospect.
Specifically, the objective of this study is to:
1. Attract potentially skilled employees to the service and return best hands available in the economy for its work.
2. Improve the ability of Imo State Civil servants to motivate their staff and boost staff moral.
3. The study among other things will also wish to achieve the following;
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WORK LIFE BALANCE AND ITS EFFECT ON EMPLOYEE PRODUCTIVITY
Today, work-life balance has become an increasingly pervasive concern to both employers and employees of most organizations. Work-life balance which primarily deals with an employee’s ability to properly prioritize between work and his or her lifestyle, social life, health, family etc., is greatly linked with employee productivity, performance and job satisfaction. Where there is proper balance between work and life, employees tend to put in their best efforts at work, because their family is happy. Most research studies have shown that when there are happy homes, work places automatically become conflict free and enjoyable places to be. Increasing attrition rates and increasing demand for work-life balance have forced organizations to look beyond run of the mill Human Resources interventions. As a result, initiatives such as flexible working hours, alternative work arrangements, leave policies and benefits in lieu of family care responsibilities and employee assistance programmes have become a significant part of most of the company benefit programmes and compensation packages.
The broad objective of the study is to examine the effect of work life balance and its effect on employee productivity.
Specifically, the objective of this study is to:
1. To examine various Work-Life balance practices/programs that exists in Merchant bank, Koforidua.
2. To identify work-Life balance challenges faced by employees of Merchant bank, Koforidua.
3. To identify the influence of imbalance Work-Life practices on organizational performance of Merchant bank, Koforidua, and the social life of its employees
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TRAINING AND DEVELOPMENT OF HUMAN RESOURCES AS A CRITICAL FACTOR IN BANKING OPERATION
As man invented tools, weapons, clothing, shelter and language, the need for training because an essential ingredient in the match to civilization. Whether our ancestors stumbled upon, or invented these facets of civilization is of relatively little significance. What is more important is that man has the ability to pass on to others the knowledge and skill gained in mastering circumstances. This was done by deliberate examples, by signs and words. Through these devices, the development process called training was another successfully, we say that learning took place and knowledge or skill was transferred. The ninth century (ninth Century) ushered in an era of social legislation and with it sizeable changes in the concept of workers organization. Through all these changers, however, and constantly developing emphasis has seen upon quality training of workers and this has culminated in the stanch support of the Trade Unions for any legislation that provides a wide range of vocational education. One of the objectives of every organization should be to provide opportunities for it employees to optimize their performance in pursuit of the organizational goals.
The broad objective of the study is to examine the effect of training and development of human resources as a critical factor in banking operation
1. To determine the influence of human resources, training and development on the operations of the banks.
2. To determine whether there is any relationship between labour turnover and availability of training and development opportunities in banks.
3. To examines the training and development opportunities available to staff of banks.
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TRAINING MANPOWER DEVELOPMENT AND EMPLOYEE PERFORMANCE IN AKWA IBOM STATE
The purpose for this study was to determine the training Manpower Development and Employee Performance in an organization. Training of Manpower has been one of the pressing problems that have greatly affected the economy of any nation. Since the problem of training manpower development and employee performance among organizations is not new in the field of educational research, many studies have been carried out, but considerable numbers of literatures and papers have been reviewed. Hence, related literature on this subject therefore has been profound and vast. Some of the studies were quite intriguing. Some were particularly concerned with sporting factors that aided poor employee performance. Such studies have however been helpful in a way that they point to why some employee could not perform or achieve their goals positively thereby opting out as a result.
In the reviewing the related literature for this study, the following areas have been mapped out for review; organization background and employees performance, organization income (socio-economic status) and training Manpower development; Organization changes in labour market and Manpower needs in manufacturing and marketing, and summary.
The broad objective of the study is to examine the effect of training manpower development and employee performance in Akwa Ibom state
To access the staff recruitment, selection and training programmes and from it, establish some relationship between these programmes and problems enumerated.
v To highlight the need for manpower planning and development in the company.
v To identify some techniques of manpower training and development in the company and their relevance to the company needs and the industry at large.
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